Identify and describe the steps in the planning process.
The five basic steps in the planning process are:
• 1. Define your objectives––Identify desired outcomes or results in very specific ways. Know where you want to go; be specific enough so that you will know you have arrived when you get there, or know how far off the mark you are at various points along the way.
• 2. Determine where you stand vis-à-vis objectives––Evaluate current accomplishments relative to the desired results. Know where you stand in reaching the objectives; know what strengths work in your favor and what weaknesses may hold you back.
• 3. Develop premises regarding future conditions––Try to anticipate future events. Generate alternative “scenarios” for what may happen; identify for each scenario things that may help or hinder progress toward your objectives.
• 4. Analyze alternatives and make a plan––List and carefully evaluate the possible actions that may be taken. Choose the alternative(s) most likely to accomplish your objectives; decide step by step what must be done to follow the chosen course of action.
• 5.Implement the plan and evaluate results––Take action and carefully measure your progress toward objectives. Do what the plan requires; evaluate results; take corrective actions and revise plans as needed.
Source: Management, 11th Edition - John R. Schermerhorn