Thursday, January 28, 2010
Types of Plans
Frequency of use: how frequently a plan is being used, one time or most of the time?
Single use plan: A plan which is used for a single purpose e.g. project.
Standing plan: A plan which is made for the activities performed on repeated basis e.g. discipline, hiring, dismissal, salaries, illness etc
Long term plan: Plan for the period of more than 3 years.
Intermediate plan: Plan for the period of 3 years.
Short term plan: Plan for the period of one year or less than a year.
To capture the whole market or to become a market leader (long term plan)
Opening of different offices in different locations (intermediate plan)
Hiring new employees and giving training to existing employees (short term plan)
Breadth (size) wise:
Strategic plans: long term plans involving a direction e.g. to become a market leader but how? By providing good quality product, good marketing etc.
Operational plans: plans which are made to carry out operational activities like activities in process, short term in nature.