Planning is a crucial function that lets management understand the bigger picture. It is essential to managing other fundamental management tasks like arranging staffing, directing and coordinating. Many managers are not involved in the planning process and don’t benefit from the process. This could be due to a lack in training or the tendency to not be involved with this role.

Improved Decision Making

A plan requires managers to be aware of the consequences of their decisions. A plan helps to assess the potential risks and advantages of various choices, since it sets out specific goals. It also assists them to keep their eye on the long-term results of their actions – for instance, how a decision they make today could have an impact on the growth of the company in three years three years’ time.

Increased Productivity

A clear plan allows people to break complicated tasks into smaller, manageable components, allowing them be completed in a shorter amount of time. This helps them utilize their time more effectively and minimizes the risk of confusion.

A plan will help an organization determine its strengths and weaknesses in the marketplace. This will allow it to benefit from growing markets before other competitors do and give it an competitive advantage. A thorough and clear plan can be used to provide a framework to plan work and ensure that responsibilities are assigned effectively and that key events are monitored in a timely manner.

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