Preview

Single-Use Plans

Good Essays
Open Document
Open Document
413 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Single-Use Plans
Question:

Plans developed for activities that are not likely to be repeated in the future are called single-use plans (programs and projects).

This can apply in many businesses. Can you think of a good example of this used recently? are there always positives when using single-use plans or can they sometimes backfire? And if a single use plan is very successful, is it possible that it might be used again? Do single use plans lose their effectiveness after one use?
Responses:
1. Wouldn’t a budget be a single-use plan? Setting a budget for the month or year is usually a project a manager has to work on for some time, since they are asked to predict what they will need to run a business effectively. This type of plan, along with any type of plan, can have positive and negative feedback, which would then leave the level of success to depend on the effectiveness of solving the problem. If a plan, a budget, or a project has positive results the ideas will usually be remembered by someone in the company, giving it the potential to be used or incorporated in other projects. But as for duplicating the exact plan, I don’t think any plan is exactly duplicated, plans tend to need a little adjusting to fit the needs of the situation that is arising.
2. yes I agree with you erin because the thought occurred to me that if businesses copied their competition their business would be in terrible shape because they would be using the same plan as their competitor... which would not make any sense. this also makes me think that using the same plan over and over would be ineffective eventually.. do to the fact that in the world today, innovation is replacing tradition.
3. An example of a single-use plan would be the Business Administration bus trip to a local business. That could be considered a project/program. It is repeated though, but in different forms each time. I think the whole concept of single-use plans though means just as it state, to use it once. I find it

You May Also Find These Documents Helpful

  • Better Essays

    Budget planning also helps manager to have easy access to review each project’s profitability to help in decision making if there is any loss making projects to be terminated. Budgeting increase the control of the managers within the organisation so that the manager could ensure the organisation is on the right track in achieving future goals and…

    • 1142 Words
    • 5 Pages
    Better Essays
  • Better Essays

    Jet2 Task 2 Essay Example

    • 1914 Words
    • 8 Pages

    A budget, as defined by Hilton (2009 pg 348), is a detailed plan, expressed in quantitative terms that specifies how resources will be acquired and used during a specific period of time. A budget is a financial document utilized to project future income and expenses. A budget is based on how much you make in income and what your monthly expenses are. Budgets evaluate performances while the plan is what is going to happen or refine what you want to accomplish by thinking ahead. The purpose of having a budget is it improves efficiency, assigns responsibility, provides direction, and helps businesses plans and control finances. Managers use the budget as a benchmark against which to compare the results to of actual operations.…

    • 1914 Words
    • 8 Pages
    Better Essays
  • Good Essays

    Competition Bikes Task 2

    • 1502 Words
    • 7 Pages

    A budget is a plan expressed quantitatively in detail. This detailed plan spells out how the company will acquire resources as well as how the resources will be allocated for a specific time. The budget is used for projecting future income and expenses. The purpose of a budget is the assist the company in providing a methodology in determining what direction to go, to improve efficiency, delegate responsibility and provide a means of controlling the finances of the company. In some cases, managers use budgets to determine how to set targets and standards for employees.…

    • 1502 Words
    • 7 Pages
    Good Essays
  • Better Essays

    Hcs 571

    • 1318 Words
    • 6 Pages

    A budget is an instrument used to help managers ensure that the resources used effectively and proficiently toward the goals of an organization. A budget projection can be made on a yearly base depending on previous year or existing one. They can further be broken down quarterly or monthly depending on it use. Generating a budget is complex undertaking, and for a budget to be effective the organization ought to follow it strictly. However, no matter how closely a business follows their guidelines there will always be some form of variances. The organization should expect a few variances and be able to work these discrepancies in any budget constraints.…

    • 1318 Words
    • 6 Pages
    Better Essays
  • Satisfactory Essays

    4. Describe a nonprice competition strategy that you have seen a company use. Do you think this strategy was effective? Why or why not? (3-6…

    • 739 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Task Supply Task 1

    • 3575 Words
    • 15 Pages

    A budget is a financial plan which is expressed in real numbers, typically in monetary units, which set the expectations for the expenses the company will incur to reach its goals, and management objectives. A good budget uses forecasts to determine what amounts should be used to reach desired efficiency and profitability. Budgets can be used to determine whether a not a process is working effectively, whether or not changes in operations need to be made in order to reach goals, and can help solve problems before they occur and help make changes when necessary.…

    • 3575 Words
    • 15 Pages
    Good Essays
  • Satisfactory Essays

    Assesment 3

    • 436 Words
    • 1 Page

    4. Describe a nonprice competition strategy that you have seen a company use. Do you think this strategy was effective? Why or why not? I have seen Wal-Mart give buy one get one free products. This is a good strategy because it gives the customer the chance to get a second item for free.…

    • 436 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    There are two different types of budgeting periods, periodic moving budget and milestone budgeting (Liebler & McConnell, 2012). Both types of budget periods are very useful, however the company should pick the type that best suits their requirements and limits. In addition, there are also various types of budgets and different approaches to budgets; again, the company should pick the method that best suits their needs and limits. It might also be beneficial for a company to have a general audit in order to prevent issues such as fraud. In addition, I would also make sure to follow the budgetary process. There needs to be an initial preparation, review and approval process, and then an implementation phase (Liebler & McConnell, 2012). Furthermore, I would also follow the six requirements of a sound budgetary procedure, which includes: a sound organizational structure, consistent budget period, development of adequate statistical data, reporting system, uniform code, and a regular audit system (Liebler & McConnell, 2012). By following the budgetary process and the six procedure requirements, I could ensure that my budgeting plan would be effective and fit the requirements…

    • 666 Words
    • 3 Pages
    Good Essays
  • Good Essays

    After being in a market for X amount of years and being successful, other people will try to get in to get a piece of the pie. We have seen this over the years with numerous different products / services. One that I can think of off the top of my head was the evolution of online media. I remember as a kid when AIM “AOL Instant Messenger” was the coolest way to communicate with your friends and family. A couple years after that MySpace was introduced to the public and that went viral as well. Today we have numerous sites such as Twitter, Facebook, Myspace is actually still around as well, Instagram, and so on. The point that I’m making is eventually you will encounter competition and as time goes on ideas are constantly being used up!…

    • 904 Words
    • 3 Pages
    Good Essays
  • Good Essays

    A budget plan is the most effective way to keep the business and its finances on track. It gives you the opportunity to review the business’ performance and any factors that are affecting or may affect your business. Also to manage your money more effectively, allocate appropriate resources, monitor performance, meet planned objectives and plan for the future.…

    • 663 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Plan Implemation

    • 352 Words
    • 2 Pages

    Without practice, an unexpected disaster can overwhelm employees and could leave the companies ability to do the plan at a high. This can cause loss of productivity and could potentially lose revenue as well.…

    • 352 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    ACC 363 Exam 2 Study Guide

    • 1830 Words
    • 7 Pages

    A budget is the quantitive expression of a proposed plan of action by management for a specified period…

    • 1830 Words
    • 7 Pages
    Good Essays
  • Good Essays

    A budget is a plan which predicts how much a company makes in revenues and how much it is going to pay in expenses and so predicts a profit or loss. A budget is can be prepared whenever a company wants two and for however long a period of time it wants to prepare it for. Companies and people would budget in order to avoid overspending and even if this does happen as it will predict how much money will be needed then the person/ business can arrange for it by getting an overdraft facility or loan. There are two types of costs, the first is fixed costs which stay the same and the other is variable costs which are always changing. Shareholders and banks may want to see budgets as the shareholders may want to know how well the company is predicted to do and banks may want to see it in order to get a clue on whether the business/ person will be able to pay back the money borrowed.…

    • 1637 Words
    • 7 Pages
    Good Essays
  • Satisfactory Essays

    Caf's Study Notes Hsc

    • 373 Words
    • 2 Pages

    Formulating a Research Proposal - A plan is useful for looking at the entire research project. This outlines what is to be done, how it will be done and when it will be done. It should provide a clear direction although changes may need to be made.…

    • 373 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Public Admin

    • 616 Words
    • 3 Pages

    a plan is a proposed set of specific actions intended to help implement a plan…

    • 616 Words
    • 3 Pages
    Satisfactory Essays