Question

32. On the introduction of the Goods and Services Tax Act, experts in the
field of business started analyzing and forecasting its impact on various
sectors and industries. Vansh, an established businessman, attended a
few seminars and conferences organised by such experts to familiarize
himself with this information. He wanted to use these forecasts to
reduce the uncertainty in making decisions for the future in his
business.
(a)Name and explain the step in the planning process that is being
discussed in the above paragraph.
(b) Also explain the next four steps which will have to be carried out to
complete the process.​

Answer 1

Answer:

developing premises :> making assumptions keeping future in mind

next four steps :->

identifying alternative courses of action :- collection of different ways of carrying out operation

evaluating the alternative :-> each and every alternative is measured with its positive and negative side.

selection :-> the alternative whose positive side weighs more is selected to carry out further operation

implementation :-> putting a plan into action is concerned with this step.