Advantages Of Planning | Disadvantages Of Planning

FEATURES OF PLANNING

1. It is primary function of management.
2. It is an intellectual process.
3. Focuses on determining the objectives.
4. Involves choice and decision making.
5. It is a continuous process.
6. It is a pervasive function

Read More about Planning :

Types Of Planning | Classification Of Planning | Planning Example
Importance Of Planning | Purposes Of Planning

ADVANTAGES OF PLANNING /  BENEFITS OF PLANNING

We all know that problems occur from poor planning, but what benefits can we expect from good planning?
• Increases the organization’s ability to adopt future eventualities
• Helps crystallize objectives
• Ensures a relatedness among decision
• Helps the company remain more competitive in its industry
• Reduces unnecessary pressures of immediacy
• Reduces mistakes and oversights
• Ensures a more productive use of resources
• Makes control easier
• Increases effectiveness of a manager
• Improves focus and flexibility.
• Improves action orientation.
• Improves coordination.
• Improves time management.
• Improves control.
• Knowing what to expect reduces stress
• Allows you to have the required materials
• Provides a sense of accomplishment & well-being
• Leaders receive accurate and complete information, and do a better job as a result.
• Helps the organization progress in a manner considered most suitable
• Employees know what is expected.
• Employees stay within the time limits.
• Managers give enthusiasm and confidence to other leaders

LIMITATIONS OF PLANNING
• Effectiveness depends upon correctness of assumptions
• Planning is expensive
• Planning delays actions
• Encourages a false sense of security