Question

Identify the steps of planning followed by Maria in the above case.

Hint:

Planning involves identifying objectives, gathering resources, formulating plans, and organizing for execution. A structured approach ensures that the goals are achieved efficiently.

Answer 1

The steps of planning followed by Maria in the above case are:

• 
  Setting Objectives: Maria identified her goal of starting a tea business using organic products and researched the commercial viability.
• 
  Identifying Resources: She researched existing tea-producing companies in India and identified the resources required, including funds and a business plan.
• 
  Formulating a Business Plan: Maria created a detailed business plan to outline the steps for establishing and running the tea business.
• 
  Approaching Financers: She approached financiers to raise the necessary funds for her business.
• 
  Organizing Resources: Upon receiving funds, Maria established her company and hired an HR manager to recruit and manage employees.