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Communication tool; planning is a very good communication tool especially to stakeholders, banks, publics, intermediaries therefore if a company doesn't have a plan or it doesn't plan well, it can't stand a better chance convencing, attracting & winning over such parties.
Strategic guidence;planning is an essential & necessary requirement in strategic guidence in in turn brings about business success & prosperity, therefore if a company doesn't have a plan or it doesn't plan well, its most likely to experience breakdown, failures, closure or run bankrupt.
Benchmarking; planning is very essential in business benchmarking because its through this framework that actual performance can be measured, assessed, evaluated, compared and reviewed, therefore if such a benchmark doesn't exist, a company is likely to run out of truck, loose its direction & in the end such suffer failure.
Feasibility assessement & re- assessement; planning is very essential in clarifying, focusing & research or project development needs, therefore without a plan or planning, the company would be lagging behind or static in its operations & performance
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