Limitations of Planning

Despite of many advantages of planning there may be some obstacles and limitations in this process. The follow are some of the planning. 1. Lack of Reliable data: Planning is based on various facts and figures supplied to the planners, which are difficult to procure absence of accurate data will upset the plan. 2. Expensive: Planning is an expensive process. The gathering of information and testing of various courses of action, setting up the planning machinery, require huge amount of money. Small companies can not afford to...

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Significance of Planning

1. Minimizes uncertainty: Planning certainly minimizes future uncertainties by basing its decisions on past experiences and present situations. 2. Better utilisation of resources: All the resources are first identified and then operations are planned. All resources are put to best possible uses. 3. Economy in operation: The operations selected being among possible alternatives, there is an economy in operations. 4. Better co-ordination: Planning will lead to better co-ordination in the organisation which will...

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Techniques of Planning

Planning will be useful only when it is effectively implemented. The following techniques makes the planning effective. 1. Consciousness for Planning: Planning will be effective only when there is proper climate for it. The superiors should try to set objectives, review various goals and redraft them as is required for their effective implantation. The hurdles in the ways of planning should be removed. Every body should extend willing and co-operation for making the plans successful. 2. Initiative at top level: The initiative...

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Planning Process

   Planning can be accomplished in a series of steps, it is called as planning process. It starts from perception of opportunities to realisation of opportunities. it determines the future course of action for utilizing resources in the best possible manner to get optimum possible results. The various steps in planning process are described below. Steps in Planning process: i) Awareness of opportunities: While planning basically managers are needed to know the availability of...

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