BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Setting objectives
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Developing premises
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Evaluate alternative
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None of the above
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Detailed explanation-1: -The first step in the process of planning is to set the objective for the plan. The managers set up very clearly the objectives of the company keeping in mind the goals of the company and also the physical and financial resources of the company.
Detailed explanation-2: -Define objectives The first, and most crucial, step in the planning process is to determine what is to be accomplished during the planning period. The vision and mission statements provide long-term, broad guidance on where the organization is going and how it will get there.
Detailed explanation-3: -Key Takeaways There are five steps: Define objectives, share them with employees, encourage employees to participate, monitor progress, and finally, evaluate performance and reward achievements.