Planning is the first step of management process. It refers to pre deciding the idea to complete the further process. It concerned with the establishment of objectives and analysis of present limitations for attaining such goals Requires decisions on:-
1. What should be done
2. How it should be done
3. Who will be responsible
4. Where the action is to be taken
5. Why is it done
The planning process consist on 8 steps which every entrepreneur must follow as well as companies and other organisation should follow these steps for successful business the following steps are as follows:
- Establish objectives: The first thing is to establish or set objective that what you want to do, only than after you can work according to that.
- Develop strategy: After setting an objective you should develop strategy for the way of working or it means making techniques to work.
- Determination of premises: It is the step of making or determining premises or setting premises for working to get your word done easily or to move toward your goals.
- Evaluation of premises: The process of evaluating the determined premises or to work according them it is the step before the step of course of action or we can say it means when all the plans for your work are fixed and you are ready to work.
- Selecting a course of action: It is the process of choosing the method of doing work or job or it is the main step or course of action.
- Formulation of derivative plans: The time or step to formulate or convert the plan. The most important thing is to formulate or convert the plans in action by working on them.
- Implantation of plans: Doing work in real is directly same as implementing plan in real life
- Reviewing the planning process: The work is completed if you recheck your plans and review the work you have done it Is very important to recheck the work or plans for better growth and development.
So being prepared is must for ever business and company planning will help you to move in right direction and you can develop and grow more through proper plans because it will help to remove hurdles as well as give way and motivation to cross the hurdles and problems .
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