Question:
Explain the following steps of the planning process :
(i) Setting objectives
(ii) Developing premises
Explain the following steps of the planning process :
(i) Setting objectives
(ii) Developing premises
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Setting objectives means deciding clearly what is to be achieved. Developing premises means making assumptions about future conditions on which the plan depends.
Updated On: Oct 26, 2026
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Solution and Explanation
Step 1: The planning process:
The planning process is a series of logical steps that a manager follows, from setting objectives to following up. We explain the first two steps asked.
Step 2: (i) Setting objectives:
This is the first step of planning. Objectives are the targets the firm wants to reach, and they must be stated clearly.
They should be specific and measurable. Every department and every later step of planning is guided by them.
Step 3: (ii) Developing premises:
Premises are the assumptions about the future conditions in which the plan will work. They may relate to the economy, taxes, technology or demand.
Premises can be internal, as in the policies of the firm, or external, as in government rules. Planners must use the same premises so that the plans stay consistent.
Step 4: Sequence:
Objectives are fixed first. Premises come next. The planner then looks for alternatives, evaluates them and selects the best.
Final Answer:
Setting objectives gives the target of the plan, and developing premises states the assumptions about the future on which the plan is based.
The planning process is a series of logical steps that a manager follows, from setting objectives to following up. We explain the first two steps asked.
Step 2: (i) Setting objectives:
This is the first step of planning. Objectives are the targets the firm wants to reach, and they must be stated clearly.
They should be specific and measurable. Every department and every later step of planning is guided by them.
Step 3: (ii) Developing premises:
Premises are the assumptions about the future conditions in which the plan will work. They may relate to the economy, taxes, technology or demand.
Premises can be internal, as in the policies of the firm, or external, as in government rules. Planners must use the same premises so that the plans stay consistent.
Step 4: Sequence:
Objectives are fixed first. Premises come next. The planner then looks for alternatives, evaluates them and selects the best.
Final Answer:
Setting objectives gives the target of the plan, and developing premises states the assumptions about the future on which the plan is based.
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