Question

Explain the following limitation of planning function of management:

Planning does not guarantee success. 

Answer 1

Even with careful planning and in-depth analysis, plans do not always work out or produce the intended results. The assumptions, predictions, and forecasts that form the basis of planning are always speculative and open to change. External variables can cause disruptions and reduce the success of plans, including market dynamics, competitive pressures, technical improvements, and legislative changes. Although planning offers a path forward, it cannot guarantee success or remove risk. Rather, managers should take a proactive and flexible approach to planning, tracking performance over time, seeing new patterns, and modifying plans as necessary to improve agility and resilience.