Practicing Success
Sonam started a telecom company in New Delhi. His big goal was to connect with 90% of the people in India within a year. He believed that the need for internet services would increase a lot in the next 5 years. To make his ambitious plan work, he had to decide whether to buy an existing telecom business, team up with others, or compete on his own, dealing with strong competition. To make the right choice, he looked at proposals from different companies. He compared things like how much money they make, their taxes, and the dividends they pay. He also looked at their future plans, knowing that these could change if the country's economic policies shift. |
What is the next step in the planning process after evaluating different alternatives? |
Developing Premises Selecting an alternative Implementing the plan Follow-up action |
Selecting an alternative |
The correct answer is option 2 i.e. Selecting an alternative. After identify different alternatives and evaluating them, Best alternative is selected by the company. Planning is a process of decision-making. Planning includes following steps- |