The major limitations of planning are given below: (i) Planning leads to rigidity: In an organisation, a well-defined plan is drawn up with specific goals to be achieved within a specific time frame. These plans then decide the future course of action and managers may not be in a position to change it.

Planning:
Planning is the process of setting goals, determining the best course of action, and creating a roadmap to achieve those goals. It involves deciding in advance what needs to be done, how it will be done, and who will be responsible for each task. Planning is an essential managerial function as it helps organizations to effectively allocate resources, make informed decisions, and achieve desired outcomes.

Importance of Planning:
- Goal Setting: Planning helps in setting clear and specific goals for the organization, which provides a sense of direction and purpose. It ensures that everyone is working towards a common objective.
- Resource Allocation: Through planning, organizations can determine the resources needed to accomplish their goals. This includes human, financial, and material resources. Proper allocation of resources ensures their optimal utilization.
- Decision Making: Planning involves analyzing various alternatives and selecting the most appropriate course of action. It helps in identifying potential risks and uncertainties, allowing managers to make informed decisions.
- Coordination: Planning facilitates coordination among different departments and individuals within an organization. It ensures that all activities are synchronized and aligned towards achieving the desired outcomes.
- Efficiency and Effectiveness: Effective planning helps organizations to work efficiently by eliminating redundancy and wastage of resources. It enables them to achieve their goals in a timely and cost-effective manner.

Limitations of Planning:
- Time-consuming: Planning requires gathering information, analyzing data, and considering various alternatives. This process can be time-consuming, especially for complex and long-term plans.
- Uncertainty and Change: Plans are based on assumptions and predictions about the future, which may not always be accurate. Uncertainties and unexpected changes can render plans ineffective and require adjustments.
- Resistance to Change: Implementing new plans may face resistance from employees who are comfortable with the existing ways of doing things. This can hinder the successful execution of planned activities.
- Overemphasis on Planning: Excessive focus on planning can lead to analysis paralysis, where too much time is spent on planning and insufficient time is allocated for execution. This can result in missed opportunities and delays in achieving goals.
- External Factors: External factors such as economic conditions, market trends, and legal regulations can impact the implementation of plans. Organizations need to be flexible and adaptable to address these external influences.

In conclusion, planning is a vital process for organizations as it helps in setting goals, allocating resources, making informed decisions, coordinating activities, and achieving desired outcomes. However, it has limitations such as time-consumption, uncertainty, resistance to change, overemphasis, and external factors that need to be considered for effective planning.