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Q.(OR) Write steps of Planning process.

Madhya Pradesh MpbseMP Board (MPBSE) Higher Secondary (Commerce) 2023Subjective· 4mImportance★★★★★
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Planning process: objectives → premises → alternatives → evaluate → select → implement & follow-up.

Steps in the planning process:

  1. Setting objectives — deciding clearly what is to be achieved.
  2. Developing premises — making assumptions/forecasts about future conditions.
  3. Identifying alternative courses of action — listing possible ways to reach the objective.
  4. Evaluating alternatives — weighing the pros and cons of each against objectives.
  5. Selecting the best alternative — choosing the most feasible and profitable one. …

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