BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Single-use plans
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Operational Plans
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Tactical Plans
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Standing Plans
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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.
Detailed explanation-2: -A standing plan is a more comprehensive plan that’s intended to be used repeatedly. In general, it’s created to meet the needs of recurring decisions and actions. It serves as a business’s go-to resource for establishing a set of rules, policies, and procedures for recurring common situations.
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: -Standing Plans: 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-5: -The repetitive planning process always suggests new aggregate repetitive schedules that replace current aggregated schedules to satisfy net requirements for a given planning period.