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.