Answer:
Planning is a process of deciding in advance what to do and how to do. It is a basic function of a manager which involves setting up of objectives and developing the best possible course of action to achieve these objectives. Three limitations of planning are discussed below: (i) Planning is a Time Consuming Process Sometimes, plans to be drawn up take so much of time that there is not much time left for their implementation. This leads to failure of planning. (ii) Planning does not Guarantee Success Success of planning rests on its implementation. Lack of proper implementation may lead to failure of planning. Even if a plan has worked earlier, it may not work again due to changes in the external environment. (iii) Planning Involves Huge Cost It usually involves a lot of time, effort and cost of the managers. Collection of data, boardroom meetings, investigations and discussions with experts involve a lot of expenditure of the organisation. Sometimes, the cost incurred may not justify the benefit derived from the plans.
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