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- 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.
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- Long-Term and Short-Term Plans
- Operational Plans: Standing Plans and Single-Use Plans
- Policies, Procedures, and Regulations
- The Role of Budgets in The Planning Process
- Forecasting, Scenario Planning, and Contingency Planning
- Management by Objectives (MBO) and Smart Goals
- Benchmarking
- Key Points
When you decided to attend college, you had a long-term plan in mind. You would spend the next four or five years preparing to become a teacher, a businessperson, or perhaps an ecologist. Or, you may have committed two or three years to become a nurse, a medical technician, or an electrician. Your long-term goal was necessary to make sure that your...
An operational plan describes the specific goals and objectives and milestones set by an organization during a specific period. (Objectivesare specific tasks undertaken to meet broader goals. A goal may be to increase product sales by 3 percent; an objective may be to hire two additional sales agents.) It will allocate the tangible resources (labor...
As stated above, the most common examples of standing use plans are policies, procedures, and regulations. These plans are usually published and handed out to new hires or posted on the organization’s employee website for easy reference. 1. Policiesprovide broad guidelines for the smooth operation of the organization. They cover things like hiring ...
Refer back to Figure 1 and locate the box labeled “Budgets.” Notice that budgets are examples of single-use, short-term plans. An organization’s budget is a document that details the financial and physical resources allocated to a project or department. They are single-use plans because they are specific to a particular period or event. For example...
Forecastingis simply making a prediction about the future. Anyone can make a forecast—the trick is to be right or close enough so that important planning decisions can be based on the forecast. Some “botched” forecasts by business leaders follow: Scientific forecasting is using mathematical models, historical data, and statistical analysis to make ...
Management by objectives, or MBO for short, is a tool that can be used to improve the performance of an organization by creating clearly defined objectives agreed upon by management and by the employees. Peter Drucker, a prolific author and a leader in management theory, coined the phrase “management by objectives” in 1954. The intent of MBO is to ...
The last planning tool we’ll discuss in this section is benchmarking. You may think that your organization has an excellent long-term plan and effective short-term plans, but how do you really know? Even if your company is showing growth, is it growing as fast as your competitor? A benchmark is a standard used for comparison purposes. Benchmarkingi...
Planning tools are designed to help you determine goals, guide behaviors within the organization, and help you evaluate your performance against external benchmarks. Plans are essential, but good managers know to be flexible when conditions demand.
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Standing plans are predetermined, long-term decisions that provide guidance for repetitive or routine situations. They establish a framework for addressing recurring problems or opportunities, allowing organizations to respond efficiently and effectively to familiar circumstances.
- Purpose or Mission: ADVERTISEMENTS: The mission or purpose identifies the basic function or task of an enterprise. Every organization has or should have a purpose so that its working becomes meaningful.
- Objectives: ADVERTISEMENTS: Objectives or goals are the ends towards which every activity is aimed-they are the results to be achieved. Objectives are a prerequisite for planning.
- Policies: Policies are general statements or understandings which provide guidance in decision-making to various managers. These are standing plans providing guidance to management in the conduct of managerial operations.
- Strategies: The word ‘strategy’ has long been used in the content of military action plans. It was used to state the grand plans made in the light of what it is believed an adversely might or might not do.
Examples of standing plans include policies for hiring, employee interaction, procedures for reporting internal issues, or complaints to the HR department, etc. and regulations in terms of what is permitted and what is prohibited in the workplace.
Two types of plans in business are designed and implemented depending on the size, scope and nature of the plan being written: standing plans and single-use plans.
Feb 22, 2024 · In single-use planning, the focus is on achieving a particular, one-off goal. This requires detailed planning for a specific scenario. Standing plans, however, focus on guiding ongoing operations and decision-making, offering a long-term approach to managing routine tasks and policies.
