Accounting technicians scheme west africa
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- (a) Action Plan
| Short-Range Plans: are plans that generally cover a span or time of one year or less. Short-range plans greatly affect a manager’s day-to-day activities. There are two (2) basic kinds of short-range plans, these area) Action plan, and (b) Reaction plan (a) Action Plan – is a plan used to operationalize any other kind of plan (b) Reaction Plan – is a plan designed in order to allow a company to react to an unforeseen circumstances. (C) Contingency Plan – is a plan used to determine alternative courses of action to betaken if an intended plan of action is unexpectedly disrupted or rendered inappropriate (Froof, 110 1994). Contingency plan is becoming increasingly important for most organizations and especially for those operating in particularly complex or dynamic environments. Few managers have such an accurate view of the future that they can anticipate and plan for everything. Contingency plan is a useful technique for helping managers cope with uncertainty and change. However, this plan should also be periodically updated and revised (Hambrick and Lei, 1995). (D) Single-Use Plans – are plans developed to carryout a course of action that is not likely to be repeated in the future. They are aimed at achieving a specific goal that, once reached, will most likely not recur in the future. There are three (3) major types of single – use plans, these are i) a programme, ii) a project, and iii) a budget. ii bA Programme: This is a comprehensive plan that coordinates a complex set of activities related to a major nonrecurring goal (Newman and Logan, 1987). A programme is also referred to as a single-use plan fora large set of activities which might consist of identifying procedures for introducing anew product line, opening anew facility, or changing the organization’s mission (Griffin, 1999). Banga and Sharma (2008) defined a programme as a specific plan drawn fora specific purpose keeping in view the organisational policies, procedures, rules, budgets, etc. once the specific purpose for which programmes were drawn is achieved, this programme is not likely to be used again in the same form, therefore, this is termed a single-use plan. Programmes usually involve several different departments or units of the organization, are composed of several different projects, and may take more than one (1) year to complete. Programmes usually include six (6) basic steps as identified by Bartol and Martin (1998), these are i) dividing what is to be done into major parts, or projects ii) determining the relationships among the parts and developing a sequence iii) deciding who will take responsibility for each part iv) determining how each part will be completed and what resources will be necessary v) estimating the time required for completion of each part and vi) developing schedule for implementing each step. iii bA project A project is similar to a programme but is generally of less scope and complexity. A project maybe apart of a broader programme, or it maybe a self-contained single-use plan. Projects are used to introduce anew product within an existing product line or t add anew benefit option to an existing salary package (griffin, 1999) 111 Furthermore, a project is a plan that coordinates a set of limited-scope activities that do not need to be divided into several major components in order to reach an important nonrecurring goals (Symonds, 1989). Like programmes, projects often have their own budgets. A project maybe one of several related to a particular programme. iii) A Budget is a statement that outlines the financial resources needed to support the various activities included in a programme or a project (Newman and Logan, 1987). Furthermore, a budget is a statement of expected results expressed in numerical terms. These are mostly prepared in terms of money units. Download 3.37 Mb. Share with your friends:
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