NAME: Christopher Tranx Delos Reyes

SECTION: 12 ABM 3

Research Feasibility
SENIOR HIGH SCHOOL: GRADE 12
2nd Semester: MODULE 2

Parent Signature: _________________________ Date Submitted: ___________

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Quiz 1/ Activity 1/Seatwork 1

Directions: Answer the following questions:

1. Define Planning and its importance in business?

Planning and its relevance in business is important to understand because it helps in the
identification of a company's objectives. Having a consistent business plan from the start
keeps you focused on the most critical objectives and offers guidance for day-to-day
activities and decisions. A great business plan will help you set targets for the coming
month, year, and beyond. A successful strategy reduces your chances of failure and
increases your chances of success, which may lead to an immediate solution to a major
problem.

2. Illustrate how proper planning help to solve the problems at your business?

Individuals and organisations alike benefit from problem-solving because it allows us to

assert control over our surroundings. Problem-solving provides a method for defining these
issues, deciding why they are broken, and devising a plan to address them. Planning, in
particular, aids in objectively assessing the target to see if it is achievable. It aids decision-
making and allows for the establishment of a timeline by forecasting when the organization
will achieve its objective. It also specifies how success will be measured in relation to the
defined objectives and who will be responsible for doing so. Planning ahead of time is
beneficial to a business, for example, if you have a company event and things do not go
according to plan, you will lose money. It's a good thing you had a proper plan and didn't
just plan for plan A, but also for plan B, C, D, and so on for potential issues and
complications, so nothing goes wrong.

3. Identify and explain the steps in the planning process.

When identifying the steps in the planning process, keep in mind that you should always
begin by defining your objectives and goals. Since not knowing what you want will sabotage
your whole strategy. Define your goals. The first and most important step in the planning
process is to figure out what needs to get done during the planning period. The second stage
in the planning process is to develop premises. A manager is expected to make certain

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 assumptions about the future, and these assumptions are known as assumptions. The third
stage of the Consumer Buying Decision process is the evaluation of alternatives. Consumers
assess all of their product and brand choices on a scale of attributes that have the potential
to provide the value that the customer is looking for at this time. Economic, marginally
economic, and subeconomic resources have been identified. These economic divisions can be
subdivided into assessed resources, indicated resources, and inferred resources to represent
varying degrees of geologic certainty. Plan and implement tasks. Determine tracking and
evaluation methods. The plan should determine which tasks are most critical, which tasks
are most likely to encounter problems, and which could cause bottlenecks that could delay
the overall plan. Managers can then determine performance and schedule milestones to
track progress.

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