About planning its needs and steps of planning, All 7 steps of planning are explained here.

1. STEPS
OF
PLANNING
23
FEBRUARY
2020
PACHIGALLA BHARATH
TEJA
B180953CS
PALASH BAJPAI
B180759CS
PRAVEEN
E
B180692CS

2. OBJECTIVES
What is planning?
Need of planning
Steps of planning
23
FEBRUARY
2020

3. What is
Planning?
• Setting objectives and
determining course of
action
• Planning is a function
of Management REQUIREMENTS:
• To be aware of
Environmental
Conditions
• be good decision
makers

4. Needs
What is the need for
planning?
Needs
• Efficient Use of Resources
• Establishing Organizational Goals
• Managing Risk And Uncertainty
• Team Building and Cooperation
• Creating Competitive Advantages

5. STEPS
IN
PLANNING • Setting Objectives
• Developing Planning Premises
• Identifying Alternative Courses of Action
• Evaluating Alternative Course of Action
• Selecting One Best Alternative
• Implementing the Plan
• Follow Up Action

6. Setting
Objectives • This is the primary step in the process of
planning which specifies the objective of an
organization, i.e. what an organization
wants to achieve.
• The planning process begins with the setting
of objectives.
• Objectives are end results which the
management wants to achieve by its
operations
Step
1
--------------

7. Developing
Planning
Premises
• Planning is always done keeping the future in
mind, however, the future is always uncertain. So
in the function of management certain
assumptions will have to be made. These
assumptions are the premises. Such assumptions
are made in the form of forecasts, existing plans,
past policies, etc.
• These planning premises are also of two types –
internal and external. External assumptions deal
with factors such as political environment, social
environment, the advancement of technology,
competition, government policies, etc. Internal
assumptions deal with policies, availability of
resources, quality of management, etc.
Step
2
---------------

8. Identifying
Alternative
Courses of
Action
• The third step of the planning process is to
identify the alternatives available to the
managers.
• There is no one way to achieve the objectives
of the firm, there is a multitude of choices.
All of these alternative courses should be
identified. There must be options available
to the manager.
Step
3
-------------

9. Evaluating
Alternative
Course of
Action
• In this step, the positive and negative aspects of
each alternative need to be evaluated in the light
of objectives to be achieved.
• Every alternative is evaluated in terms of lower
cost, lower risks, and higher returns, within the
planning premises and within the availability of
capital.
Step
4
---------------

10. Selecting
One Best
Alternative
• The best plan, which is the most profitable
plan and with minimum negative effects, is
adopted and implemented.
• In such cases, the manager’s experience
and judgment play an important role in
selecting the best alternative
Step
5
-------------

11. Implementing
the Plan
• This is when all the other functions of
management come into play and the plan is put
into action to achieve the objectives of the
organization.
• The tools required for such implementation
involve the types of plans- procedures, policies,
budgets, rules, standards etc.
Step
6
---------------

12. Follow Up
Action
• Monitoring the plan constantly and taking
feedback at regular intervals is called
follow-up.
• Monitoring of plans is very important to
ensure that the plans are being
implemented according to the schedule.
• Regular checks and comparisons of the
results with set standards are done to
ensure that objectives are achieved.
Step
7
-------------

13. FEBRUARY
2020
P.Bharat
Teja
Palash
Bajpai
Praveen
Thank you!
This was all about steps in planning.