Importance of Planning Essay Example
Plans are something we often do in our daily life. In our everyday life, we always make plans one such example is planning our expenses when buying certain products with a list, here we plan out how we are going to spend, what can and how many products will I be able to afford with what I have. Just as we use planning in our everyday life, this extends to the business side of things like how we plan to improve previous weaknesses and fix blunders if made and done correctly; it is possible to do so. Based on what I read and my existing knowledge regarding planning, I can summarize what planning is, its importance, advantages, limitations, and most importantly how one can overcome said limitations to give it higher chances of success. We know 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. Planning is a way to prepare and take notes on how we should proceed about a particular 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 which is why knowing limitations will help one organize plans better. The right mindset should be starting with what we have and then growing it from there until we reach new heights, something we previously can’t achieve at the time, and like so 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 thinking of future directions we can take for when we get to that point making new objectives to reach afterward. The advantages of planning include being able to identify threats to our business, what opportunities we can take, how we can adapt to changes in the environment, what countermeasures do we have for problematic scenarios, do we have full control of the situation, how are we going to effectively and efficiently use our workforce so that unnecessary tasks are lessened and lessening of risks we can encounter are some of the more known advantages and there are a lot more to list. That being said, the limitations involving planning leans on what available resources are 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 gets addressed correctly and them having initiatives to make beneficial decisions, careful planning about what may happen in the future and making countermeasures in place so that we are prepared for 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 the 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 makes ways to overcome them and with this mindset will one be able to make an effective and efficient plan in incorporating various ideas for the improvement of a business.
