Question

Identify and describe the steps in the planning process. (hint: there are 5 steps)

Answer 1

The following are the 5 steps of a planning process:

Step 1: Set objectives- In this step the objectives are set i.e. the basic goal for which the planning is being done. For example, to set a plan to lower the turnover rate of the employees.

Objectives should be SMART:

Specific

Measurable

Attainable

Realistic
Time bound

Step2: Generate alternate strategies: This step is basically finding out various ways in which the objectives can be attained. For example, raise the salary, give extended paid offs, lower working hours etc.

Step 3: Evaluate alternate strategies: To evaluate each strategy by listing their pros and cons. The strategies should be carefully determined in terms of the business impacts.

Step 4: Implementation: Implement the best alternative.

Step 5: Monitor (control and evaluation): Monitor the process for any improvements. If any required repeat step 1.