BENEFITS OF PLANNING
Businesses today face both external and internal pressure.
External pressures include:
· Ethical expectations
· Government regulations
· Ever-more complex technologies
· Uncertainties of a global economy
· Changing technologies
· Sheer cost of investments in labour
Internally pressures include:
· Quest of operation efficiencies
· New structures and technologies
· Alternative work arrangements
· Greater diversity in the workplace
· Related managerial challenges
Planning in under such conditions does offer countless benefits. There are 5 benefits included with planning. The 5 benefits are the following:
1. Planning Improves Focus and Flexibility:
Good planning improves focus and flexibility both are which essential for performance success. The organization with focus knows what it does best. Along with knowing the preference of the customer and meeting their needs. An organization with flexibility is willing and able to alter and adapt to changing conditions.
2. Planning Improves Action Orientation:
Planning is a technique for individuals and organizations to stay ahead of their competition and always become better at what they are doing. This way it helps avoid the complacency trap of simply being carried along by the flow of events or of being distracted by successes or failures.
3. Planning Improves Coordination:
There are various individuals, groups, and sub system in organizations that are each doing a lot of different things all at once. Good planning throughout the organization creates a “means-ends chain”. A means-ends chain is also referred to hierarchy of objectives. It is when lower-level objectives lead to the accomplishments of higher-level ones.
4. Planning Improves Time Management
A side benefit of planning is time management. Many of us have experienced the difficulties of balancing available time with the commitments and opportunities we will also like to fulfil. It is very easy to lose track of time and waste time. You must resist being dominated by other people and other non-essential activities.
5. Planning Improves Control
When planning is done well it facilitates control by making it easier to determine performance results and take action to improve it if needed. Planning makes this possible by defining the objectives along with the specific actions through which they are to be pursued.
Businesses today face both external and internal pressure.
External pressures include:
· Ethical expectations
· Government regulations
· Ever-more complex technologies
· Uncertainties of a global economy
· Changing technologies
· Sheer cost of investments in labour
Internally pressures include:
· Quest of operation efficiencies
· New structures and technologies
· Alternative work arrangements
· Greater diversity in the workplace
· Related managerial challenges
Planning in under such conditions does offer countless benefits. There are 5 benefits included with planning. The 5 benefits are the following:
1. Planning Improves Focus and Flexibility:
Good planning improves focus and flexibility both are which essential for performance success. The organization with focus knows what it does best. Along with knowing the preference of the customer and meeting their needs. An organization with flexibility is willing and able to alter and adapt to changing conditions.
2. Planning Improves Action Orientation:
Planning is a technique for individuals and organizations to stay ahead of their competition and always become better at what they are doing. This way it helps avoid the complacency trap of simply being carried along by the flow of events or of being distracted by successes or failures.
3. Planning Improves Coordination:
There are various individuals, groups, and sub system in organizations that are each doing a lot of different things all at once. Good planning throughout the organization creates a “means-ends chain”. A means-ends chain is also referred to hierarchy of objectives. It is when lower-level objectives lead to the accomplishments of higher-level ones.
4. Planning Improves Time Management
A side benefit of planning is time management. Many of us have experienced the difficulties of balancing available time with the commitments and opportunities we will also like to fulfil. It is very easy to lose track of time and waste time. You must resist being dominated by other people and other non-essential activities.
5. Planning Improves Control
When planning is done well it facilitates control by making it easier to determine performance results and take action to improve it if needed. Planning makes this possible by defining the objectives along with the specific actions through which they are to be pursued.