In a Short Essay, Define the Following Types of Plans

question 21

Essay

In a short essay, define the following types of plans: strategic plans, operational plans, long-term plans, short-term plans, specific plans, directional plans, single-use plans, and standing plans.

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Definitions:

Diseconomies of Scale

The phenomenon where a firm's per unit costs increase as it increases production, typically due to inefficiencies.

Learning-By-Doing

Acquiring skills and efficiency in a task through direct experience or practice, often leading to reduced costs and improved performance over time.

Dominant Strategies

In game theory, a strategy that is best for a player in a game regardless of the strategies chosen by the other players.

Sequential Version

A process or model that is designed to occur or be executed in a specific order or sequence.