All steps of planning process with explanation is given in this slide and can also be used for explanation.

1. Planning process
By Raj Narayan yadav

2. 1. Setting objectives:
The first and foremost step of planning is setting
objectives. Objectives are the end results which
are to be achieved during plan period. Objectives
may be set in quantitative terms like 20% growth
in sales per annum or qualitative terms like
developing employees, undertaking research and
development activities and so on.

3. 2. Developing premises:
After setting objectives next step is developing
premises. Planning premises are the assumptions
about the likely shape of events in future. It forecasts
the obstacles, problems or limitations in the path of
the effective planning because of which the plans
may deviate. Planning premises supply relevant facts
& information already to future.

4. 3. Identifying alternative courses of action:
Once objectives are set and premises are developed, alternative
course of action are identified. There are many alternative ways
through which an organisation may achieve its stated objectives,
for example, growth objective may be achieved either by
expanding present business or diversifying in a new business.
At this step , attempt is made to identify as many alternatives as
possible so that organisation has flexibility in choosing the most
appropriate alternative course of action.

5. 4. Evaluating alternative Courses:
In this step positive and negative aspects of various
alternative courses of action are evaluated to identify the
most appropriate alternative through which the desired
objectives may be achieved. For evaluating various
alternatives organisations fix certain criteria in the light of
stated objectives. These criteria are fixed in terms of cost,
return, risk, and an organisation’s vision, that is, what is
wants to be in the distant future.

6. 5. Selecting an alternative:
After comparison and evaluation, the best
alternative is chosen for reaching organizational
objectives. On the basis of merits, demerits,
resources and consequences, the best plan has to
be adopted, which must be the most feasible,
profitable and with least negative

7. 6. Implementing the plan:
Once the plans are developed they are put into action.
Successful implementation of the plan ensures
understanding and whole-hearted cooperation of all
the employees. For example, for implementing a plan for
opening a new factory, action plans for acquiring
financial resources, human resources, physical facilities,
etc., are prepared.

8. 7. Follow up action:
To see whether plans are being implemented,
activities are performed according to schedule.
Monitoring of implementation of plans is quite
important for ensuring that the stated objectives
are achieved. In case of any deviations, changes
are made in the plans.