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    Trupthi S Reddy
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    The planning process involves 7 steps: 1) Recognizing the need for action by being aware of opportunities in the external environment and within the firm. 2) Gathering necessary information by collecting relevant facts and figures before planning. 3) Listing alternative courses of action by considering different options to achieve goals. 4) Evaluating alternatives to select the best option. 5) Making plans both long-term and short-term based on the selected alternative. 6) Implementing plans by taking action to execute the plans. 7) Follow-up by evaluating progress and results to determine if modifications are needed.

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    BUSINESS MANAGEMENT

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    The planning process involves 7 steps: 1) Recognizing the need for action by being aware of opportunities in the external environment and within the firm. 2) Gathering necessary information by collecting relevant facts and figures before planning. 3) Listing alternative courses of action by considering different options to achieve goals. 4) Evaluating alternatives to select the best option. 5) Making plans both long-term and short-term based on the selected alternative. 6) Implementing plans by taking action to execute the plans. 7) Follow-up by evaluating progress and results to determine if modifications are needed.

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    3 views1 page

    Business Management

    Uploaded by

    Trupthi S Reddy
    The planning process involves 7 steps: 1) Recognizing the need for action by being aware of opportunities in the external environment and within the firm. 2) Gathering necessary information by collecting relevant facts and figures before planning. 3) Listing alternative courses of action by considering different options to achieve goals. 4) Evaluating alternatives to select the best option. 5) Making plans both long-term and short-term based on the selected alternative. 6) Implementing plans by taking action to execute the plans. 7) Follow-up by evaluating progress and results to determine if modifications are needed.

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    © All Rights Reserved
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    PLANNING PROCESS

    The planning function of management is one of the most crucial ones.It involves setting the goals of the
    company and then managing the resources to achieve these goals.

    These are the 7 steps in planning process:

    . RECOGNISING NEED FOR ACTION:

    An important part in the planning process is to be aware of the business opportunities in the firm’s
    external environment as well as within the firm. Once such opportunities get recognised the managers
    can recognise the action that need to be taken at the prospect of these new opportunities, and our
    product strongly adheres to the first step

    as this product is exclusively for youngsters, keeping them ever ready and on track to carry on their tasks
    for the day.Our newly launching limited edition ELEC 21

    not only helps us to be on time but also it monitors our sleep quality, heart rate and blood pressure.

    . GATHERING NECESSARY INFORMATION:

    Before actual planning is initiated relevant facts and figures are collected.All information relating to
    operation of a business should be collected in detail, and adhering to it our team has done a detailed
    study in it.Our team has looked into all the factors and has done a thorough analysis.

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