In addition to provide directions and reduce the risk of uncertainty, planning helps the managers in many other ways.'

(a) Function of Management Planning:

Characteristics of planning

(i) Planning focuses on achieving objectives.

(ii) Planning is a primary function of management

(iii) Planning is pervasive

(iv) Planning is continuous

(v) Planning is futuristic

(vi) Planning involves decision making.

(vii) Planning is a mental exercise.

(b) Any three limitations of planning:

(i) Planning leads to rigidity

(ii) Planning may not work in a dynamic environment

(iii) Planning reduces creativity

(iv) Planning involves huge cost

(v) Planning is a time consuming process

(vi) Planning does not guarantee success