Explain developing premises

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Solution

The second phase in the planning process is developing premises. A management must make some assumptions about the future, which are referred to as premises. Assumptions are the foundation from which plans are built. They might take the shape of forecasts, current plans, and so on.

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Similar questions

You are a strategic analyst in XYZ Ltd. While developing the planning premises list out certain assumptions regarding

(i) Tangible and intangible premises

(ii) Controllable and uncontrollable premises

Explain the meaning of planning premises with example.

Which of the following are examples of external premises?

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