Advantages Of Planning | Disadvantages Of Planning
FEATURES OF PLANNING
- It is primary function of management.
- It is an intellectual process.
- Focuses on determining the objectives.
- Involves choice and decision making.
- It is a continuous process.
- 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
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