Question

Explain the following step in the process of planning:

Developing Premises

Answer 1

Finding and evaluating the hypotheses, projections, and other elements that could affect the planning process are all part of developing premises. This step involves gathering relevant data, researching the market, and evaluating both internal and external factors that may have an influence on the organization's operations. Planners may make better decisions and create realistic plans that take into account potential uncertainties by identifying crucial premises, such as market trends, technical improvements, regulatory changes, and competitive dynamics.