Q:

What is the most significant barrier to effective planning?

A:

Quick Answer

The most significant barrier to effective planning is change. Effective planning strategies typically include changes, both real and perceived, to people, systems, processes and structure. This can be highly disruptive to an organization.

Know More
What is the most significant barrier to effective planning?
Credit: Thomas Barwick Stone Getty Images

Full Answer

People may fear their roles within an organization diminishing or disappearing altogether due to anticipated changes. System technologies may need an overhaul to accommodate the new strategy, and this could affect the ability of employees to do their jobs.

Organizational structure may also be revamped, shifting the chain of command as old departments within an organization are eliminated and new ones are created. Processes will also be under scrutiny during effective planning, and concerns may be raised about how implementing more effective processes could phase out specific jobs.

Learn more about Financial Planning

Related Questions

  • Q:

    Why do businesses plan?

    A:

    Planning for businesses provides several crucial benefits, such as financial planning, setting goals and objectives, and identifying areas of strength and weaknesses. Business plans help all companies plan for the future by taking into consideration short-term and long-term goals, such as projected revenue and ideal sales volumes. Planning also allows companies to examine the resources they have, including personnel and finances, and how to use those resources to meet certain goals.

    Full Answer >
    Filed Under:
  • Q:

    What are some examples of good financial planning?

    A:

    Some examples of good financial planning include a strategy in which the individual determines his financial situation, develops objectives, chooses and evaluates alternatives, and then puts the strategy into action, according to McGraw-Hill. Another strategy for good financial planning is determining long-range goals and then setting short-term objectives that slowly work up to that goal, explains Wells Fargo.

    Full Answer >
    Filed Under:
  • Q:

    What are some services of ECCU HomeBanking?

    A:

    ECCU HomeBanking, called eBanking as of July 2015, provides personal checking and saving accounts; business accounts; loan services such as home mortgages, credit cards and auto loans; and investment services such as retirement planning and education funding. It also provides business lending and insurance services, states ECCU.

    Full Answer >
    Filed Under:
  • Q:

    What services are offered by Sun Life Financial in Canada?

    A:

    Sun Life Financial provides financial planning services for various life and work situations, according to the company website. Typical products involve plans for financial security, including health and life insurance, and investments for savings and income growth. One unique product available as of October 2015 is the SunFlex Retirement Income investments account.

    Full Answer >
    Filed Under:

Explore