Planning is the process of making plans for something. A person who does his work without planning has 90% chance of failing. Then Why Planning is important?
Planning is necessary if you have certain targets which you need to achieve, Since planning helps you to work in systematic manner to get you the desired results.
Why Planning is important?
1. Planning Increases efficiency:
Planning helps to make optimum utilization of all available resources. It helps to avoid duplication. It aims to give the highest returns at the lowest possible cost. Hence, your overall efficiency will be increased.
2. It Helps to achieve objectives:
You may have certain objectives or targets. You keep working hard to fulfill these targets. Planning helps you to achieve these aims, but with some ease and promptness. It also helps you to avoid doing some random ( done by chance) activities.
3. Business-related risks will be reduced:
In any modern business, there are many risks. Therefore Planning helps to predict these kinds of business-related risks. It will help you to take the required precautions to avoid these risks. Thus, it reduces business risks.
4. It helps to Keep good control:
If you plan your work, you can keep good control over your work. A student who planned his studies has been found more efficient than the one who hasn’t planned. Hence, Planning helps to keep good control.