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Advantages of
Planning – A
critical trait to
achieve goals in
life
Mar 18, 2022 | Business

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Table of Contents [hide]

1 Advantages of Planning

2 Limitations to Planning

3 External limitations to Planning

4 Characteristics of Planning

5 Planning Process

6 Conclusion

The advantages of Planning are numerous.

What is Planning? Planning is the process
of making and carrying out plans. Planning
can also be dePned as the process of
setting goals and actionable strategies to
achieve the goals. Planning is a necessary
trait to achieve one’s goals in life.

A famous saying says: “He who fails to plan,

plan to fail.” Planning is vital to one’s
success. Anyone that decides to plan must
have a target. Planning is not looking at
what we have achieved. Planning looks at
what we can attain to be better.

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Every organization, either small or big scale

business, needs to plan. Every organization
wants to increase its proPt and reduce loss.
That doesn’t happen overnight; it requires
Planning.

The advantages of planning for individuals

are crystal clear. Planning looks ahead into
what, how, when, and why something is to
be done. To achieve our goals and
objectives, we need Planning. Planning is
one of the functions of management. It
bridges the gap between the present and
the future.

Right from schooling days to the labor

market, we need to plan. Take, for example,
a student who doesn’t plan; it’s apparent
what that student would get. Part of
Planning is preparatory steps to counter
hindrances that might happen in the
future.

Advantages of Planning
]. Planning focuses on goals and
objectives: We are engaged with many
things every day that distract us. Planning
keeps us focused and goal-centered.
Keeping our sight on our goals motivates
us.
_. Planning gives us direction: Planning
directs our actions towards the desired
outcome. Planning gives you a view of
what you want and how to go about it.
Having goals and targets is not only
enough. Everyone wishes to become a
billionaire – but not everyone is planning in
that direction. Or it’s better to say not
everyone is ready to give it what it takes.
Planning draws our goals nearer to us and
makes them more achievable.
a. Planning enhances motivation and
commitment: As earlier said, Planning
draws our goals nearer to us. Our goals will
remain goals only if we don’t plan. One of
the steps to achieving our goal is planning.
After drawing out plans, motivation comes.
Motivation and commitment to our goals
come when we plan.
b. Planning reduces uncertainty: There are
lots of delays both in the business world
and our engagements. Planning helps to
reduce tensions. We know what is
achievable and the risks attached. We
understand clearly what we should expect
and prepare for.
c. Planning facilitates coordination: We
know what to expect and what to put in
place when we plan. Most people complain
that there is not enough time to do the
needful. The truth is that you have enough
time to do what is essential. You don’t have
to do everything – you have to do the
necessary things.
e. Planning helps in setting priorities:
Without Planning, we will do lots of less
important things. Planning helps us to set
our preferences right. We know the things
that need urgency and something that can
come later. Time is money; if we don’t get
our priorities right, we might not make any
signiPcant improvement.
f. Planning helps in setting standards: To
achieve our goals, we have measures that
we must maintain. Again, let’s take a
student, for example. Graduating with a
Prst-class honor is the goal; students know
that they cannot have some lesser grades.
Therefore, setting standards to make the
goal achievable. The same thing happens in
the world; Planning guides us to give
standard performances.
h. Planning allows iexibility: When we plan,
we are open to various options. We can
have multiple plans directed at achieving
our goals. We might not need to change
the whole project at times if the initial plan
is not working Pne. It might only need a
minor adjustment and tweaking some
parts of the program.
j. Planning boosts conPdence: Having
different options to choose from puts us in
control of any form of obstacles. We are
conPdent that we can achieve our goals.
]k. Better Decision Making: Through
Planning, we can compare options and
alternatives to get the best decision.
Planning helps get the most effective plan
with the best approach, low cost, and
better adaptive features.

Limitations to Planning
Planning is good if we want to achieve our
goals in life, but there are some limitations
to Planning.

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]. Planning takes time: Planning takes

time; the more apparent the goal, the
longer it takes to plan. In situations where
quick decisions are needed, lots of
Planning might not be applicable. When
Planning takes a longer time, it prevents
action.
_. Planning is costly: In the collection of
data samples, testing plans, prototype
development, etc. It requires money. For a
company, experts will be hired for proper
analysis and recommendations. Apart from
the salary they will pay these experts, the
experts will need to carry out experiments –
which the company will have to provide
them with the necessary resources
required. It is mainly advised that Planning
should not be carried out – if the initial cost
is more than the benePt or proPt to be
gained.
a. Resources might be wasted while
planning: Some plans won’t work, so
spending time and resources on such
projects is a waste.
b. Planning might not work in a dynamic
environment: For instance, in the business
world where some big goons dictate the
market’s iow, Planning might not be
effective. Lately, cryptocurrency investors
lamented the fall in the market. In such an
environment, you learn to iow with the tide
of the market.
c. Lack of accuracy: In Planning, we make
assumptions that are not 100% correct. We
can only plan to meet up with the worst-
case scenario. But some unbelievable cases
can happen. For a start-up company with
great development plans, we have to invest
so much in purchasing gadgets and
instruments. Then came a pandemic like
COVID-19, which would ruin their plans. Or
a 5% iniation has been predicted
throughout the year in the worst-case
scenario, but iniation rose by 15%. It will
affect the project.
e. Inability to adapt to change: Sometimes,
switching from one plan to another is hard,
especially after investing so much in the
initial plan. Change is constant, and
programs might be affected.

External limitations to Planning

Natural disasters: Natural disasters such as
ioods, earthquakes, famine, etc. May affect
one’s plans.

Technology change: Plans may also fail

with the constant technological change in
the world.

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Change in government policy: We don’t
have power over policy made by the
government. It can affect our plans. An
example is planning on traveling to another
country to seek greener pastures, but the
government had just passed a bill that
doesn’t allow immigrants from your
country.

In addition, other limitations include

sickness or unforeseen health expenses,
iniation, change in taste of customers,
change in competitors, etc.

Advantages of Planning

Characteristics of Planning
]. Planning is goal-oriented: Planning is
done to make goals achievable. Planning
draws out plans that can lead to the desired
outcome quickly. The goal is the Prst thing,
then comes Planning. Without having a
dream, you don’t have anything to plan for.
_. Planning is future-looking: When
planning, we don’t look at the ‘NOW’; we
look into the future. In simple terms, we
plan for the future. We don’t say we prepare
for what has happened; we plan for the
future. It involves predicting and analyzing
future happenings.
a. Planning involves choices and decisions:
Planning opens us to various decisions and
selections. The decisions we make are vital
to the entire Planning. The resources
available affect our choices and decisions.
b. Planning is continuous: Planning is a
constant process. Both short-term and
long-term plans are subjected to review
and evaluation. While the project is
underway, Planning should continue as
regards the new conditions known.
c. Planning is iexible: Since we are not sure
of what will happen in the future, Planning
must be done to accommodate changes in
the future. Plans can be revised and
updated depending on the challenges
faced.
e. Planning is designed for efPciency:
Getting the best route to achieving our
goals at the minimum possible cost and
avoiding wastage of resources is what
Planning does. It helps in the better
utilization of men, resources, funds, etc.

Planning Process
Have a goal: Without having a destination,
one would roam around aimlessly. Having a
goal is the bedrock of Planning. When you
don’t have a dream, you don’t have
anything to plan for. Before you plan, have
a goal.

Evaluate your resources: Before drawing

out your plans, evaluate your resources—
having this at the back of your mind will
help you when making plans. You will not
make plans that your resources won’t be
able to Pnish.

Design plans: You can have multiple plans

that lead to your goals. Design and draw
them out. Make achievable plans. Analyze
all other alternatives to the project that you
have.

Choose the best plan: Decide on which

method you want to go with.

Execute the plan

Revise and re-evaluate the plan

Conclusion
Planning is essential to achieving one’s
goal. The advantages of Planning cannot
be overlooked due to its limitations.
Therefore, we must choose our goals right
and plan towards them because “He who
fails to plan, plan to fail.”

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