One of ValuTech's objectives for the year is to bring down the firm's production costs by 5 percent. To meet this objective, managers have suggested the following alternatives:
(1) Use alternate suppliers who can provide raw materials at a lower cost.
(2) Adopt cutting-edge technology that makes the production process more efficient.
-Which of the following steps in the planning process should precede all the others?
A) develop premises upon which each alternative is based
B) develop plans to pursue the chosen alternative
C) list alternative ways of reaching objectives
D) choose the best alternative for reaching objectives
E) A reduction in production costs leads to lower prices. F) put plans into action

Question

Quizplus · Accepted Answer

Listing alternative ways of reaching objectives is the first step in the planning process. This step involves brainstorming and generating multiple ideas to pursue the objective. Once all alternatives are listed, premises can be developed for each one, and the best alternative can be chosen based on those premises. Plans can then be developed for the chosen alternative, and the final step is putting those plans into action.

One of ValuTech's Objectives for the Year Is to Bring