Explain the Differences and Similarities Between Habitualization and Institutionalization

question 29

Essay

Explain the differences and similarities between habitualization and institutionalization.

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Definitions:

Zero-based Budget

A budgeting method that starts from zero each new period, requiring all expenses to be justified for each new period.

Monthly Operating Budget

A financial plan that outlines expected income and expenses for a business over a one-month period, helping to manage resources and achieve financial goals.

Single-use Plan

A specific plan aimed at achieving a particular goal or solving a singular problem, not intended for repeated use.

Operational Plans

Detailed plans developed to implement strategic initiatives at a tactical level, focusing on short-term actions and resources.