Entrepreneurship Development and Communication Skills (1+1)

6.1.5.2. Establishment of Planning Premises

1. Planning premises are the assumptions about the lively shape of events in future.
2. They serve as a basis of planning.
3. Establishment of planning premises is concerned with determining where one tends to deviate from the actual plans and causes of such deviations.
4. It is to find out what obstacles are there in the way of business during the course of operations.
5. Establishment of planning premises is concerned to take such steps that avoids these obstacles to a great extent.
6. Planning premises may be internal or external. Internal includes capital investment policy, management of labour relations, philosophy of management, etc. whereas external includes socio- economic, political and economical changes.
7. Internal premises are controllable whereas external are non- controllable.