STEPS OF PLANNING PROCESS- STEP 5:SELECTING THE BEST ALTERNATIVE

While the earlier steps of planning process are concerned with listing and evaluating alternatives, this step is more about decision making, i.e. selecting the best among the alternatives available. In the previous step alternatives are evaluated, those having maximum positive aspects are listed and the ones with negative points are eliminated. In this step, the managers decide or finalize the one or a combination of plan with which they want to move forward and put in operation.

Among the listed options those which seem feasible based on resources, objective, current situations, future assumptions and expectations are selected. Here, ‘the best alternative’ is not selected based on a mathematical formula or guideline, instead the alternative which seems to be ideal and adoptable for the organization is preferred. In most of the cases, more than one alternative may seem suitable. In such cases, managers choose more than one options, put one in operation and others are reserved for any contingent situation. It may happen that the plan adopted and operative needs modification or alteration depending upon the unexpected business circumstances. Whenever any such situation arises, the managers switch the operative plan with one among the reserved options which seems suitable at that point of time.

Taking the example from the previous post where ‘a company aiming to advertise its products and services has various media options for advertisement like print media, digital media, telecommunication, etc.’ In this example the managers may, after proper evaluation find that the digital media is most suitable at present, however print media also shows potential and thus can be approved. In such situation, the managers would adopt the digital media and put it in operation to move further with the process, keeping print media as a reserve alternative which can be implemented in future if need arises. In addition, managers also can adopt both the alternatives and use it as a combination to advertise their product.

Accordingly, this step is essential and vital in the planning process as it involves decision making which paves the path for further action and future success. Thus, while making a selection, managers must act diligently and prudently to make it feasible and successful. While making such decision some points should be considered, these are:

• The alternative must be viable.
• All the resources required to make the alternative operative should be easily accessible and within the reach of the organization.
• The alternative should be instrumental in achieving the organizational objective.
• Alternative to be selected must consider the future assumptions adequately i.e. planning premises must be effectively prepared for the alternative.