Advantages
•Increases the organization’s ability to adopt future eventualities
•Increases the organization’s ability to adopt future eventualities
•Helps crystallize objectives
•Ensures a relatedness among decision
•Helps the company remain more competitive in its industry
•Reduces unnecessary pressures of immediacy
•Reduces mistakes and oversights
•Ensures a more productive use of resources
•Makes control easier
•Increases effectiveness of a manager
•Helps the organization progress in a manner considered most suitable
Limitations
•Effectiveness depends upon correctness of assumptions
•Planning is expensive
•Planning delays actions
•Encourages a false sense of security
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