1. Setting Objectives- If management set long and short term goals for their company they are giving not only their employees something to refer to, they are establishing what management hopes to acquire in the near and far future.
2. Analyzing and Evaluating the Environments- The management team determines what resources available to them; manpower, supplies, finances, and company regulations/policies. If a company compiles a database with specific information about each of the resources above, they can be better prepared to plan out what events need to take place and how they are going to be achieved.
3. Identifying the Alternatives- Formulating a backup plan in case something comes up and hinders the original plan. This is having a list of contacts who can work late or on weekends to get tasks completed.
4. Evaluating the Alternatives- Having a plan on what to do if the set goals cannot be made in a timely manner; such as approve overtime and hiring temporary specialists to aid in completing the task at hand in a timely manner. It is also a good idea to have a backup on resources so that if a problem arises, there is financial stability to cover all expenses.
5. Selecting the Best Solution- Going through the backup plan and