New Terms Introduced in Business Studies
NEW TERMS INTRODUCED IN BUSINESS STUDIES CLASS XII 2012-13
UNIT–4: PLANNING
Sub Topic: Single Use and Standing Plans PLAN A plan is a specific action proposed to help the organization achieve its objectives. It is a document that outlines how goals are going to be met. The importance of developing Plans is evident from the fact that there may be more than one means of reaching a particular goal. So with the help of logical plans, objectives of an organization could be achieved easily.
SINGLE USE PLAN A Single use plan in a business refers to plan developed for a one-time project or event that has one specific objective. It applies to activities that do not recur or repeat. It is specifically designed to achieve a particular goal.. Such Plan is developed to meet the needs of a unique situation. The length of a single-use plan differs greatly depending on the project in question, as a single event plan may only last one day while a single project may last weeks or months. For example, an outline for an advertising campaign. After the campaign runs its course, the short term plan will lose its relevance except as a guide for creating future plans.
STANDING PLANS Standing plans are used over and over again because they focus on organizational situations that occur repeatedly. They are usually made once and retain their value over a period of years while undergoing revisions and updates. That is why they are also called repeated use plans. For example, Business plan to establish a new business. Entrepreneurs draft business plan before opening the doors to their business, and they can use their plan to guide their efforts for years into the future.
2
DIFFERENCE BETWEEN SINGLE USE AND STANDING PLANS
BASIS
OF SINGLE USE PLANS
STANDING PLANS
DIFFERENCE
1. Meaning
A single-use plan in a business A standing plan in a business refers refers to plans developed for a to plans developed for using over and one-time project or event that has over
UNIT–4: PLANNING
Sub Topic: Single Use and Standing Plans PLAN A plan is a specific action proposed to help the organization achieve its objectives. It is a document that outlines how goals are going to be met. The importance of developing Plans is evident from the fact that there may be more than one means of reaching a particular goal. So with the help of logical plans, objectives of an organization could be achieved easily.
SINGLE USE PLAN A Single use plan in a business refers to plan developed for a one-time project or event that has one specific objective. It applies to activities that do not recur or repeat. It is specifically designed to achieve a particular goal.. Such Plan is developed to meet the needs of a unique situation. The length of a single-use plan differs greatly depending on the project in question, as a single event plan may only last one day while a single project may last weeks or months. For example, an outline for an advertising campaign. After the campaign runs its course, the short term plan will lose its relevance except as a guide for creating future plans.
STANDING PLANS Standing plans are used over and over again because they focus on organizational situations that occur repeatedly. They are usually made once and retain their value over a period of years while undergoing revisions and updates. That is why they are also called repeated use plans. For example, Business plan to establish a new business. Entrepreneurs draft business plan before opening the doors to their business, and they can use their plan to guide their efforts for years into the future.
2
DIFFERENCE BETWEEN SINGLE USE AND STANDING PLANS
BASIS
OF SINGLE USE PLANS
STANDING PLANS
DIFFERENCE
1. Meaning
A single-use plan in a business A standing plan in a business refers refers to plans developed for a to plans developed for using over and one-time project or event that has over