Advantages and limitations in planning

Advantages
•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

•Helps the organization progress in a manner considered most suitable

Limitations

•Effectiveness depends upon correctness of assumptions

•Planning is expensive

•Planning delays actions

•Encourages a false sense of security