This series include Planning function of management for XII Business Studies AISSCE preparation.

1. Planning
XII Business Studies
Planning Process
Session : 2 Vikash Residential School

2. Prepared by Pratap Naik
Planning Process
What is a Process??
Process is a well directed sequences of steps to be performed to accomplish the predetermined task.
Step 1 Step 2 Step 3 Step 4 Goal
Planning Process (Steps)
 Planning is deciding in advance what to do and how to do.
 Thus, planning is an activity having certain logical steps that must be follow by all planners.
1. Setting Objectives
2. Developing premises
3. Identifying Alternative courses of action
4. Evaluating Alternative Courses
5. Selecting an alternative
6. Implementing the plan
7. Follow up action

3. Prepared by Pratap Naik
1. Setting Objectives
• The first and foremost step is in planning is setting up objectives.
• Objectives or goals specify what the organisation wants to achieve.
• These are concerned with end result and give direction to all departments.
• So, it should be stated clearly for all departments, units and employees.
• It becomes easier to work towards the goal if it is clear so these should be communicated well in
advance to all employees.
2. Developing premises
• Planning is concerned with the future which is uncertain.
• Therefore, the manager is required to make certain assumptions about the future.
• These assumptions are called premises.
• Assumptions are the basis upon which plans are drawn also the essential for successful plan.
Planning Process

4. Prepared by Pratap Naik
3. Identifying alternative courses of action
• The third step in the process of planning is to identify the alternative course of action.
• All the alternative courses of action should be identified.
• An innovative course may be adopted for developing better plan.
• Involvement of maximum member should be secure for better alternatives.
4. Evaluating alternative Courses
• The next step is to weigh the pros and cons of each alternative.
• The positive and negative aspects of each proposal need to be evaluated in the light of the
objective to be achieved.
• Also Alternatives are evaluated in the light of their feasibility and consequences.
Planning Process

5. Prepared by Pratap Naik
5. Selecting an Alternative
• This is the real point of decision making.
• Scientific approach should be applied while selecting the best alternative.
• The ideal plan, should be the most feasible, profitable and with least negative consequences.
• Sometimes, a combination of plans may be selected instead of one best course.
6. Implementing the plan
• The step is concerned with putting the plan into action
• All other managerial functions are activated in this step.
• Plans are useless unless and until it is implemented properly.
Planning Process

6. Prepared by Pratap Naik
7. Follow up action
• This step is concerned with monitoring the plans that are being implemented
• The basic purpose is to check activities are performed according to schedule or not.
• Monitoring the plans is equally important to ensure that objectives are achieved
• Controlling function of management is activated in this step.
• In case of deficiency in the actual result, corrective actions are taken to reach the goal.
Planning Process

7. Prepared by Pratap Naik
Planning Process
1. Setting Objectives
2. Developing premises
3. Identifying Alternative courses of action
4. Evaluating Alternative Courses
5. Selecting an alternative
6. Implementing the plan
7. Follow up action
Recap

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Session Complete Vikash Residential School
XII Business Studies