Standing plans that furnish broad guidelines for channeling Management Thinking

Table of Contents

A) Single-use plans
B) Programs
C) Procedures
D) Policies.

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The Correct Answer for the given question is Option D) Policies.

Policies are standing plans that furnish broad guidelines for channeling management thinking in specified direction.

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Standing Plans

A standing plan is a plan that can be used repeatedly. The benefit of standing plans is that they foster unity and fairness in an organization and help to support organizational values. There is no need for managers to make unique decisions that have already been addressed by organizational policies. Furthermore, a standing plan saves managers time by allowing them to prepare for common situations. Standing plans also assist with delegation of work, since employees are already knowledgeable about the procedures and regulations followed by the organization.

Examples

Policies,
Procedures, and
Regulations.

Benefits of Standing Plans for an Enterprise

Coordination within an enterprise can be achieved through standing plans. Standardization, uniformity, and unity are characteristics of these plans.
Due to procedures, rules, regulations, etc., senior executives can delegate their responsibilities to subordinates.
These plans help achieve goals even when they are vague, complex, or multi-faceted. In the event that there are difficulties in making decisions, policies, methods, rules, procedures, etc. provide ready frames of reference.
Standing plans are formulated after a great deal of analysis, discussion, and argument. These plans facilitate quick decision-making when decisions need to be taken. As they provide recurring situations with frames of reference, these plans are great labour saving devices.
These plans improve administrative control. Based on these, it’s possible to evaluate the results of efforts made by various people at different levels of the organization.

This provides a blueprint for translating a business strategy into a plan for is.

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Smirti

(Founder of Management Notes)
MBA,BBA.

I am Smirti Bam, an enthusiastic edu blogger with a passion for sharing insights into the dynamic world of business and management through this website.

I hold a MBA degree from Presidential Business School, Kathmandu, and a BBA degree with a specialization in Finance from Apex College,

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Standing plans that furnish broad guidelines for channeling Management Thinking