Types of Plans: Single-use plans and Standing plans
Plan means how goals are going to be met. Types of plans include single-use plans and standing plans.
One-time use plans are the single-use plan. These are designed to achieve a particular goal that once achieved will not reoccur in the future. So, the key features of these plans are
- One time use
- Meet specific demands.
These are repeated use plans, they are used for situations that occur repeatedly. They are made once and can be reused. For example, policy, procedure, rule, etc.
Remember Plans should be S.M.A.R.T
A – Attainable
Types of Standing plans and Single use plans
It is a long-term plan. Objective means the ends towards which all the activities are directed. This is a single-use plan.
The plan which answers the following questions is known as strategy:
- How to achieve objective?
- How to double our profits?
Strategy is a comprehensive plan to achieve the objective. It talks about adopting a particular way of action. It is a long-term plan and the target of this plan is to be achieved in a year.
The general response of an organization to a particular problem or situation. For example, Fixed Price Shops, No credit sale.
It is a way to handle problems.
The exact manner in which the activity can be accomplished. It includes:
- Sequence of steps
- Chronological order
5. Rules (Do’s or Don’t)
- Action or non-action
- Code of conduct
- They are rigid, and complusive in nature.
Objective+ Policy+ Procedure +Rules = Programmes (Single-use plans)
For example, for the construction of a shopping mall, we need the following:
- Detailed statement about a project
- In programmes minutest details are worked out.
7. Method (Way, it is a standing plan)
The method means a systematic way of doing routine or repetitive jobs. It includes:
- No doubts in employees minds on how to do any duty?
- Uniform action for every employee
- Standardization and simplification
- Guide for employees
It is a single-use plan. It is related to financial matters. For example, “expected result expressed in the numerical form”.
With the budget, we can take care of deviation. What was planned, and how much is spent?
You can read more topics related to business studies:
Feel free to join our Facebook group and subscribe to this website to get daily educational content in your mailbox.
Disclosure: Some of the links on the website are ads, meaning at no additional cost to you, I will earn a commission if you click through or make a purchase. Please support me so that I can continue writing great content for you.