Page 3 - Lesson Note 2

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 reoccur 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 one week 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, Businessman plans to establish a new business Entrepreneur drafts business plan

before opening the doors to their business, and they can use their plan to guide their efforts for

years into the future.

(i) Objectives: Objectives are the ends towards which the activities are directed. They axe the
end result of every activity. e.g., increase in sale by 10%.

(ii) Strategy: A strategy is a comprehensive plan to achieve the organisational objectives.

(iii) Policies: Policies are genera] statements that guide thinking or channelize energies towards

a particular direction.

(iv) Procedures: Procedures are required steps established in advance to handle future
conditions. The procedure can be defined as the exact manner in which an activity has to be

accomplished.