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PROCESS OF PLANNING:PRESENTED BY:HARPREET KAUR &SUKHJIT
KAURMEANING OF PLANNING:Planning is concerned with the
determination of future course of action in advance so as to
achieve the desired results. It is thinking before doing &
deciding in advance what is to be done, how is to be done, when is
to be done & who is to be done.STEPS INVOVED IN PLANNING
PROCESS:Determination of Objectives: The first step in planning is
to determine clearly the objectives of business. First of all,
objectives of the entire organisation are laid down & then
objectives of each department are specified.Constructing Planning
Premises: The second step is to determine the forecasts upon which
the planning shall be based. If these forecasts are accurate, the
planning process will be more useful like price of product, wage
rate, materials, power,etc. ContiCollection, analysis and
classification of information: For effective planning, all relevant
data should be collected, analysed, & classified. All useful
data should be included to faciliated analysis &
interpretation.Determine Alternative Courses: The fourth step of
planning is to discover the alternative courses of action i.e to
develop more than one course of action. All these courses should be
properly evaluated to discover the most useful course of
action.ContiEvaluating alternative course of action : Each
alternative is evaluated in terms of its expected results and
benefits. The strong & weak point of each alternative should be
clear.Selecting a Plan : The next step is to select the best
alternative . A plan should be clear & accruate.Formation of
derivative plans: For achieving the objects of master plans ,
Conti..subsidiary or derivative plans are framed. If a company
decides to develop a new product by installing certain new
machines, the subsidiary plans are hiring of new employees,
procurement of funds, purchase of raw material etc.Communication of
plans: The next step in planning is to communicate the plan to
every manager in the organisation so that they cooperate whole
heartedly in the implementation of plans.
Contii.Controlling the plans: The last step in planning is to
watch the progress a plan & note down its shortcomings &
weaknesses. A continuous review of plans helps the management to
keep the plans up to date.Thank you
