Today ; I was thinking of planning something . The thought came to my mind : Should I plan it for a very Long time : 5 or 10 Years + ? Or should I think it only in terms of this year and next . All of us who believe in planning face this question now and then . So I would get a bit into Pros and Cons of both options :
Long term Option
Pros :
1) Helps us in taking Tough decisions that influence our overall spending Habits , Personality Traits .
2)Helps us plan better for Rainy days and keeping a buffer stock of Finances as well as Resources.
Cons :
1)Long Term Planning might make us in the habit of thinking too much. Also,we may tend to focus too much on future rather than on present .
2)What If conditions surrounding our decisions change beyond recognition . Say;we plan something assuming that Personal Computers would be around for 10 more years at least ;and some new thing comes up that eliminates PCs altogether !!
Short Term Planning :
Pros :
1)We worry less and take faster decisions . 2)Decisions can be better acclimatised to any rapidly changing scenarios . 3)Deciding conditions can be measured and understood by us faster.Cons :
1)Short Term planning might make us to avoid taking hard options which might be beneficial in long run .
2)We might opt for too many knee-jerk solutions which might even harm us in longer term .Which to use when is of course our choice. My say : Use as per the situation and your own line of thought .
Comments