There are many factors that affect the planning process in business, and there are six steps to the planning process. The six steps in the planning process are situational analysis, alternative goals and plans, goal and plan evaluation, goal and plan selection, implementation, and monitor and control. This six steps are crucial to the planning process of a business, and it is important to be aware of the factors affecting these steps.
A factor that affects the situational analysis of the planning process is current economic conditions. This factor affects the planning process because if current economical conditions are good or bad this will be discovered during the first step, and the condition of the economy provides information that can make the plan successful or unsuccessful. Economical conditions will provide a business with information that will help determine the next steps in the planning process, and this factors in highly on plans.
Another factor that affects the planning process and is priorities, and this factor comes into play highly in relation to the third step of the planning process. Priorities will have to be examined thoroughly during the goal and plan evaluation step. During this step priorities are involved because they must be used to evaluate and choose a plan. Priorities may also be shifted, and some priorities will be given up for higher priorities. This factor affects the planning process because it will allow a business to make choices that will be beneficial.
A factor that influences the planning process is budget, and any plan that does not have a budget to support it will not make it during the implementation stage. A budget is something that should be considered in many steps of the planning process because it has a tremendous effect on the plan. A budget is something that is and should be always considered during all steps of the planning process because it will affect it highly. Budgets can make or break a plan, and realistic ideas about budgeting should always be taken during the planning process of a business.
Organizational responsibilities play a role in the planning process because an organization is responsible for providing stake holders with profit or value first and foremost. What will benefit the stakeholder will always play a role in the decisions of the planning process because the ultimate goal of most businesses is to provide value.
Ethics also play a role in the planning process because ethical beliefs can influence priorities and goals. Ethics will also influence budget decisions which are integral to the planning process. Ethics have an influence on the planning process because ethics will always play a part in the decision making of a business.
There are many factors that affect the planning process in business, and it is important to be aware of these factors in order to use the steps of the planning process effectively.
