Define steps in management planning process, Operation Management

Assignment Help:

Define Steps in Management Planning Process.

Planning can be explained as deciding in advance what is to be completed in future. Some of the fundamental steps involved in planning are as follows:

  • Setting objectives: It is the most crucial step in the planning process.
  • Establishment of planning premises: This is an identification of the assumptions as to future conditions.
  • Development of alternative courses of action: - there should be a search by the management for the several alternatives.
  • Critical evaluation of the optional courses of action-going in the plus and minus points of each alternative and determine the net worth of each alternative
  • Selection of the best alternative: such decision is based upon experience and experimentation
  • Formulation of derivative plans - all these plans are derived from the main plans.
  • Implementation of the plan - it is the most important step and the plan would have to be communicated to those who are supposed to start action.
  • Follow- up Action: this shows watching the consequences that arise from the implementation of the plan
  • Restarting the planning cycle - latest plan should be undertaken to take the place of the accomplished plan when planning is a continuous process.

Related Discussions:- Define steps in management planning process

Explain separately compiled modules of a program, A system program that com...

A system program that combines the separately compiled modules of a program into a form suitable for execution A. assembler B. linking loader C. cross compiler D. load

Most vital factor in determining a company''s unit sales, Which of the foll...

Which of the following is the most important factor in determining a company's unit sales and market share of private-label footwear in a particular geographic region? a The len

Define personal selling techniques be applied at target, How can personal s...

How can personal selling techniques be applied at target? Provide specific examples to support your response.

Calculate the two missing amounts, A company is considering whether to repl...

A company is considering whether to replace a machine. The old machine costs $90,000 and is being depreciated at 10% per annum using the straight line method. It is written down va

Explain school cafeteria make or buy its pizzas, The school cafeteria can m...

The school cafeteria can make pizza for approximately $0.30 a slice. The cost of kitchen use and cafeteria staff runs about $200 per day. The Pizza Den nearby will deliver whole pi

Explain what is the number of late -tardy jobs, A single machine work cente...

A single machine work center has five jobs assigned to it. They are labeled, in the order of their arrival in the shop, as jobs A, B, C, D and E. The work center may work on only o

Historical development of operations management, explain the evolution of o...

explain the evolution of operations management, highlighting the key stages of developments taken place in the operations management practices in modern day organizations.

Determine the order size that will minimize the total cost, You are the Sto...

You are the Stores Manager at the Ministry of Information and you have the responsibility of managing store room No. 101 where all blank papers for this Ministry are kept. The ann

Johnson''s rule, Please help with sequencing the following jobs; T,U,V,W,X,...

Please help with sequencing the following jobs; T,U,V,W,X,Y,Z (WORK CENTER 1 - 15,7,4,7,10,4,7) (WORK CENTER 2 - 3,9,10,6,9,5,8) RESPECTIVELY TO THE JOBS. THE REST I WILL CALCULATE

Strengths and weaknesses of a tiny family owned restaurant, Assume you work...

Assume you work for a family owned restaurant, WHAT ARE some of the typical strengths and weaknesses of a small family owned restaurant? What types of opportunities and threats wou

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd