What are the different steps involved in the planning?

Different steps involved in the planning are :-
1. Premising

a. Acts as a great tool for carrying out the planning of the business.
b. Act as the judgments about the future plans, depending on the type of the situation in which they will work.
c. Decides whether to proceed with the plan or not.
d. Helps in basing the judgment about the certain things that may work or not.
e. Must be correct as in case they are wrong, then the whole plan will go wrong.
f. Help in tackling the environment around a certain plan.
g. The premises must be consistent to all the plans and the sub plans.
h. A number of premises can be used to arrive at a certain plan.
i. The premises can be the possible growth in the market, the availability of the resources, the nature of the future competition, the strategic considerations etc.

2. Information / intelligence collection and the forecasting:

a. In this step, all the relevant data that is needed for the plan is collected.
b. Both the primary data and the secondary data can be used.
c. Primary data can be collected by interviewing the people and the secondary data is in the printed form or the published data that is available.
d. This data is interpreted in terms of the future utility.
e. In this step, the forecasting of the various changes, which take place during the implementation process of the data, is done.
f. Ultimately this forecasts acts as the premises for the future planning of the activity.

3. Establish vision:

a. Vision is what we do not see but what we feel is in store for the future.
b. Vision is dreaming as well as having faith in the activities that are being implemented.
c. Vision is very much personal in the nature.
d. It is required for giving the much needed direction for moving ahead in the future.
e. Acts as the compass that guides an individual in the correct direction.

4. Define mission:

a. Serves the beneficiaries depending on their needs and the satisfaction.
b. The mission is stated in terms of the recipient.
c. The mission is thought of in the angle of the receiver of the goods and the services.
d. It is very subjective in the nature.

5. Decide the policy:

a. The guidelines in the nature of an umbrella of the decisions of the long term are settled mainly to provide a firm guideline for many subsidiary decisions.
b. The policy can be written or unwritten in the nature.
c. The boundaries can be defined with the help of the various policies.
d. Provides the discretion within the boundaries, hence helping in the adjustment of the performance to the situation.

6. Set the objectives:

a. Objectives are defined as the achievements that mainly aim at in the broad terms to establish some of the guidelines, in order to take the required action.
b. Objectives can be many in the number.
c. May consist of the hierarchy along with the network of the objectives depending upon the divisions like the strategic business units, the departments and the levels in the organization.
d. It is very essential that these divisions are mutually consistent and also well coordinated in the nature.
e. Setting up of the objectives is done at the higher levels of the organization.
f. The objectives must be able to help the subordinates in determining the goals in the concrete terms.
g. Goals are actually in the terms of the performance.

7. Set the goals

a. Are short term and are operational within a financial year as these are more tied up with the budgets.
b. Provide the much needed, practical orientation to the plans.
c. Goals are divided into people working, so that each one has a target to achieve.

8. Draw the program

a. For the achievement of the objectives simultaneously, synchronization is very necessary.

9. Convert the program into the budget:

a. Budget can be defined as the available achievable targets and expressed in the money terms with the revenue and the expenditure for all the activities aiming at the possible surplus.
b. All the plans are converted into the budget.
c. After this conversion, the budget is used as the control and the evaluation document.

10. Collect the information on the feedback:

a. After the implementation, this step is performed.
b. The various required corrections in the future plans are carried out.
c. The revised plans are reintroduced.