Planning is an assumption or prediction of business requirements and outcome in the future. It provides a space to review the best strategy to run the business by cutting expenses and maximizing profit.
Some of the planning steps include −
● Planning for infrastructure like plant and building.
● Getting permission and recognition from the government or any other reputed authority.
● Applying for environmental clearance.
● Purchasing of land and licensing of mines, if necessary.
● Applying for electric connection and water supply.
● Planning the final feasibility, technical feasibility, and operational feasibility.
● Study of PPR and preparation of Detailed Project Report (DPR).
● Getting loan and/or capital investment.
● Acquisition of machineries and planning for installation.
Now, let us move forward to see how this planning step is further transformed to implementation steps.
