Operational Business Plan

Operational Business Plan-20
The strategic plan embodies very big decisions with major consequences for the overall performance.Strategic and tactical planning are different in kind.

The strategic plan embodies very big decisions with major consequences for the overall performance.Strategic and tactical planning are different in kind.

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At Simply Strategic Planning strategic planning refers to a systematic, formally documented process for deciding the handful of key decisions that an organization, viewed as a corporate whole, must get right in order to thrive over the next few years.

In contrast, operational planning or tactical planning is a short-term, highly detailed plan formulated by management to achieve tactical objectives.

Strategic planning also provides the indicators for assessing and controlling performance of the organization as a corporate whole.

We define operational planning, on the other hand, as the setting of short-term objectives for specific functional areas such as finance, marketing, and human resources.

It enables organisations to think through and document what they are doing, for whom they are doing it, and why.

Operational Business Plan Essay On An Abstraction

A corporate strategic plan, then, consists of a very few but momentous statements about the long-term future of the organization as a whole.'We will merge with a competitor' is a message of the utmost simplicity but of huge importance for any business - if they do merge life will never be the same again.

Despite the clear distinctions we are making it is also important to understand that operational and strategic planning are interrelated and complementary decision processes, which must link to each other, inform and support one another for effective management of strategies.

Operational planning is the day-by-day, week-by-week, and month-by-month planning for a myriad of local and functional activities; strategic planning sets the overall direction of your organisation as a whole, its destiny if you will.

Operational and strategic planning are distinguished primarily by the number, kind and time span of the decisions involved, as summarized in this table.

If you see something that purports to be a strategic plan, and it has a list of 40 objectives for only one year with no overall corporate performance indicator to guide evaluation of the overall implementation of the plan you are not looking at a corporate strategic plan, and it is probably some kind of operational plan.

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