Practice question

Question

Read the passage and answer the question that follow:
Planning is a fundamental managerial function that sets the direction for the entire organization. It involves setting clear objectives, defining the activities needed to achieve them, and deciding on the best course of action. The process includes creating premises, evaluating alternatives, and selecting the best plan to meet the objectives. Effective planning ensures that the organization is focused, avoids redundant efforts, and prepares for any uncertainties or changes in the business environment. However, planning is not a one-time event; it is a continuous process that requires regular updates to adapt to new challenges and opportunities.
What is the first step in the planning process?