Differentiate Single use and Standing plans

Question

Differentiate between the terms Single use and Standing plans?

Answer 1

SINGLE USE PLANS and STANDING PLANS their differences on basis of following:-

1.    Meaning

SINGLE USE PLANS:

A single-use plan in a business refers to plans developed for a one-time project or event that has one specific objective.

STANDING PLANS: A standing plan in a business refers to plans developed for using over and over again because they focus on organizational situations that occur repeatedly.

2. Objective:

SINGLE USE PLANS:  Single use plan is developed to carry out a course of action that is not likely to be repeated in future time.

STANDING PLANS: Standing plan however is developed for activities that occur regularly over a period of time.

3. Scope:

SINGLE USE PLANS:  Single use plans generally encompass a narrow scope targeting a specific project or event.

STANDING PLANS: Standing plans generally encompass a wider scope involving more than one department or business function.

4. Stability:

SINGLE USE PLANS:  Single use plans are discarded when the situation, project or event is over.

STANDING PLANS: Standing plans are relatively stable and used over and over again with necessary modifications or updation.

5. Example

SINGLE USE PLANS:  Budget for Annual General Meeting of shareholders.

STANDING PLANS: Employment as well as selection procedure for a particular post in the company.