Breaking them down and justifying the reason of choosing them as way to anticipate the outcomes of these goals. It will be a must to make these objectives clear, specific and enough information, such as dividing them in sectors or even in departments in order to guarantee realistic objectives and showing the opportunities as well as problems that the company will experience on the course of the activities. Thirdly will be a the stage of Drawing up Premises. This will involve the establishment of planning assumptions, for instance, to show the future environment in which the plans are expected to occur (Cronje, 2004).
The setup of premises is vital to the success of planning and before plans are prepared, the assumptions and conditions need to be defined in order to make possible prediction of the events or activies to happen in the future. Therefor contingency plans may be prepared for alternate possible situations. The fourth stage on this process will be Development of Various Course of Action as a way to establish alternative ways in which the identified goal can be achieved.
It is on this step that as a manager will need to outline the tasks required to meet the objective, as each goal should have a task or projects associated with its achievement. Step five will be Evaluating Alternatives, it is important to bear in mind that the alternatives defined in the previous step need to be evaluated in terms of various factors, including the planning premises developed in step 3.
Prioritizing goals and tasks is about ordering objectives in terms of their importance, so the tasks deemed most important will theoretically be approached and completed first.
Because the prioritizing process may also reflect steps necessary in completing a task or achieving a goal. On the step six, Selecting a Course of Action is the result of step five. A management plan should include a contingency plan if certain aspects of the master plan prove to be unattainable. The selection of course of action can be incorporated into each segment of the planning process or for the plan in its entirety. The seventh step is Formulating Derivative Plans, it involves the drawing up of plans which support the initial plan says Cronje, 2004.
Once the goal are defined and planning premises are identified, management can formulate plans and strategies for the accomplishment of desired results. Although the responsibility of planning belongs to the managers, the subordinates ought to be consulted, as the are the one who will curry out the development of the activities. The available alternatives should be evaluated in the light of objectives and planning premises. If the evaluation shows that more than one alternative is equally good, the various alternatives may be combined in action.
The last step on this process will be the Budgeting, it serves to establish the resources available for the manger to carry out the plans and achieve organizational goals Cronje, 2004. In order to any business plan be possible we must have financial and human resources projections that will make the goals achievable. Depending on what to achieve a management plan may identify the number of people required how much money will be needed for instance.