Question

Question 1: 250 words

Choose any local company and apply the six questions for planning process Also give your opinion how this process helps the company .

Answer 1

Planning is a management process of defining goals for a company's future direction and deciding the resources required to achieve those goals. A variety of plans like the business plan, marketing plan, etc, are generated by the manager during the planning process.

Goal-setting, analysis, strategy formation, strategy implementation, and strategy monitoring are the five stages of the process.

1. Define your vision.
2. Collect and analyze information.
3. Plan for a strategy.
4. Implement the strategy.
5. Evaluate then Control.

Strategic planning mainly deals with at least one of the three key questions:

• What do we do?
• For whom do we do it?
• How do we excel?

Here, I just selected a local company is "Glob Trading Impex(GTM)". Its headquarters are in Melbourne. It is a community of locals in more than 60 cities across Australia.GTM helps people to get information about their fav places to drink, eat, and enjoy their holidays locally in their cities.

The six questions for the planning process would be as follows:

Why does our business exist?

What would be our attitude and behavior?

Where are we heading towards?

What would make us successful?

What is the most critical thing right now?

What is not very important right now?

This process is very important and is an essential part of the planning process because it provides the direction by questioning what can be the future course of action and how to do it. It also helps managers to look into the upcoming issues and make a suitable judgment or choice from different options.