State any two advantages and any two limitations of ‘Planning’.

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Approved answer

ADVANTAGES OF PLANNING: 1. Primacy of Planning:Even though there are other managerial functions such as organising, staffing, directing and controlling which helps to achieve the organisational goals, planning precedes all other managerial functions. It establishes objectives necessary for all group effort.

2. Helping to Management:Since the planning is a future course of action, mangers are able to define their objectives and get direction. Also it creates a unity of purpose.
1. Corporate Planning is not Integrated into the Total Management System:The top management fails to identify and associate properly the formal planning with the central concept of the organisation’s mission.
2. There is a Lack of Understanding of the Different Steps of the Planning Process:The management may not be knowledgeable or skilled in understanding all steps of the planning requirements.