Importance of Planning Essay Example
Plans are quite important to have in our daily life. In our everyday life we always make plans one such example is planning your expenses when buying certain products and more on a list, in this case we plan out how we are going to go about our expenses, what can we afford and how many products can I buy with what I have. As planning is used in everyday life it can of course be used in making businesses thrive if made and done correctly. Based on what I read and my previous knowledge in regard to planning, I can summarize what planning is, its importance, advantages, limitations and most importantly how can one overcome said limitations to give it higher chances of success.
We know for a fact that businesses be it already existing ones or new ones yet to be made all start with planning. Planning done knowing what we can realistically reach and what we may reach based on results must always be considered when making plans as it will be essential to its success. Basically, planning is a way for us to prepare and take notes on how we should proceed pertaining to a certain goal or task in mind. In a business sense, one of the core reasons for planning is to make a profit by assessing what is possible with our current resources. Making a plan that is impossible with what you currently have is essentially a plan that is no doubt going to fail that is why knowing limitations will help one to organize plans better. Going by this the right mindset should be starting with what we have and then growing it which in turn will let us reach new heights which was something we previously can’t achieve at the time and as such the general logic is that as we grow our businesses, what we can do also rises with it. The importance of planning is that it lets one focus on a goal and with that goal in mind we can make decisions that will help us get closer to that goal as well as having future directions for when we get to that point making new objectives to reach afterwards.
The advantages of planning is that with it we can identify threats to our business, what opportunities we can take, how we can adapt to certain changes in the environment, what countermeasures do we have for certain scenarios, do we have full control of the situation, how are we going to effectively and efficiently use our manpower so that unnecessary tasks are lessened and lessening of risks we can encounter being some of the more important advantages and there are a lot more to list. That being said, the limitations involving planning heavily leans on the available resources at hand which I have previously reiterated many times throughout this reflection along with the fact that planning is costly, and it will not always go the way we want due to many factors such as time restraints, inflexibility, external factors, and the like. To overcome such limitations, it is imperative that in planning we should consider proper and realistic objectives that can be met and understood by employees, the managers in the business having a means of obtaining accurate information about situations in the business so that it can be addressed properly and them having initiative, careful planning about what may happen in the future and making countermeasures in place so that we can be prepared when issues arise, keeping track of current resources and having a means of having alternatives, having flexibility so that the business can change with regards to external change and lastly making it so that the plan will incur more benefits than the costs made to sustain it.
My conclusion for this paper would be that all in all planning is the core and preparation of sorts before doing things to reach goals we have in mind and for it to be successful we must always know what is realistic at the moment and knowing our limitations make ways to overcome them and with this mindset will one be able to make an effective and efficient plan.