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Explain the following step in the process of planning: Setting objectives - Business Studies

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प्रश्न

Explain the following step in the process of planning:

Setting objectives

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उत्तर

Setting precise goals that outline what is needed or results to be attained is the first stage in the planning process. Goals serve as standards for judging performance, direct the distribution of resources, and offer a methodical framework for decision-making. Effective goals are in line with the purpose, vision, and strategic priorities of the organization and are SMART (Specific, Measurable, Achievable, Relevant, Time-bound).

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