Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Planning

Question:

Arrange the steps of Planning Process in sequence :

(A) Selecting an ALternative

(B) Identifying alternative courses of action

(C) Evaluating alternative courses

(D) Developing Premises

(E) Setting Objectives

Choose the correct answer from the options given below :

Options:

(A), (B), (C), (D), (E)

(A), (C), (B), (E), (D)

(E), (D), (B), (C), (A)

(E), (B), (D), (C), (A)

Correct Answer:

(E), (D), (B), (C), (A)

Explanation:

The correct answer is option (3) : (E), (D), (B), (C), (A)

1.Setting Objectives (E): This is the first step in the planning process. It involves defining and establishing clear, specific, and achievable objectives or goals. Objectives serve as the foundation for planning because they provide direction and purpose for the entire planning process. Objectives should be SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) to ensure they are well-defined and can be effectively measured.

2.Developing Premises (D): Premises are the assumptions or forecasts about the future that planners rely on. In this step, planners gather and analyze relevant information and data to form the basis for their plans. This information includes internal and external factors that may impact the organization or project. Developing premises is crucial because it helps planners understand the environment in which their plans will operate.

3. Identifying alternative courses of action (B): After setting objectives and gathering the necessary information, the next step is to generate a variety of potential strategies or courses of action. Planners brainstorm and create different alternatives to achieve the objectives. These alternatives should be creative and diverse to allow for flexibility and
adaptability in the planning process.

4.Evaluating alternative courses (C): In this step, planners assess and analyze the various alternatives identified in the previous step. They compare these alternatives against the established objectives and criteria. Evaluation involves considering the advantages and disadvantages of each option, including potential risks and benefits. The goal is to determine which alternative is the most suitable and likely to achieve the desired objectives.

5.Selecting an Alternative (A): After evaluating the alternatives, the planner selects the most appropriate course of action that aligns with the objectives and is the best fit for the organization or project. The selected alternative becomes the final plan that will be implemented. This step involves making a well-informed decision based on the evaluation of alternatives and the available information.