BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Standing plans are made to be used multiple times. I.e. again and again. These plans are formulated to guide managerial decisions and actions on problems which are recurring in nature. When there is a pattern, all you have do is to figure that pattern out, front-load this effort and always look out for it.

Detailed explanation-2: -Standing plans are also called ‘repeated use’ plans because these provide guidelines for actions to be taken in future. These plans provide unity and uniformity of efforts in meeting repetitive situations arising at various levels of the enterprise.

Detailed explanation-3: -A standing plan is used for activities that occur regularly over a period of time. It is designed to ensure that the internal operations of an organization run smoothly. Such a plan greatly enhances efficiency in routine decision-making.

Detailed explanation-4: -The repetitive planning process always suggests new aggregate repetitive schedules that replace current aggregated schedules to satisfy net requirements for a given planning period.

Detailed explanation-5: -Single-use plans refer to the plans which are designed for one-time usage, i.e. the completion of a project or an event, and it has a particular objective. Standing plans implies the plans which are formulated for repeated usage, as they are concerned with the situations of the organization which occurs quite often.