Manage Business Operational Plans - Desklib

MANAGE BUSINESS
OPERATIONAL PLANS

Table of Contents
MAIN BODY..................................................................................................................................3
TASK 1............................................................................................................................................3
1...................................................................................................................................................3
2...................................................................................................................................................3
3...................................................................................................................................................3
4...................................................................................................................................................4
5...................................................................................................................................................4
6...................................................................................................................................................4
7...................................................................................................................................................5
8. Employee recruitment and induction strategies.................................................................6
9. Physical resource for an organization..................................................................................6
10. Service acquisition strategies..............................................................................................6
11. Key indicators of organizational performance.................................................................7
12. Budget and actual financial relating to profit and productivity.....................................7
13. Methods for preparing operational plans..........................................................................7
14. Methods for preparing contingency plans.........................................................................8
15. Role of an operational plan in achieving an organization’s objectives...........................8
16. Procedures and records associated with documenting performance..............................9
17. Approaches for developing KPI.........................................................................................9
18. Legislative and regulatory framework..............................................................................9
19. Fair trading laws and work health and safety..................................................................9
20. Organisational policies, practices and procedures that relate to the operational plan
...................................................................................................................................................10
TASK 2..........................................................................................................................................10
1.................................................................................................................................................10
2.................................................................................................................................................10
3.................................................................................................................................................11
4.................................................................................................................................................11
5.................................................................................................................................................12
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Inventory Management......................................................................................................13
 Average Inventory...........................................................................................................13
 Average Days to Sell Inventory.......................................................................................13
6.................................................................................................................................................13
7.................................................................................................................................................13
8.................................................................................................................................................13
9.................................................................................................................................................15
10...............................................................................................................................................15
TASK 3..........................................................................................................................................16
Role play 1.................................................................................................................................16
Role play 2.................................................................................................................................20
REFERENCES..............................................................................................................................23
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MAIN BODY
TASK 1
1.
Business operational plan refers to a practical document through which key targets and activities
that an organization is going to undertake in a given period of time, say a year, are outlined. In
every plan concerning business operations, the processes, responsibilities of several departments,
activities and the time frame of the execution of the plan are stated (Moşteanu and Roxana,
2020).
2.
Stakeholders involved in the development & management of operational plan are as follows:
 Escalation points
 Colleagues
 Specialist resource managers
 Employees
 Unions
 Shareholders
 Vendors
 Regulatory agencies
 Owners
 Supply chain partners
 Community members
 & customers.
3.
Key information sources required for the development & presentation of proposal are as follows:
 Business records to analyze current business situation
 Projections to be done in case of new business
 Reviewing the marketing data
 Conducting the SWOT analysis
 Strategic plan of the business
 Previous operational plan
 Budget working papers
3

 Asset register
 Minutes of planning or committee meetings
 Consultation
4.
Resource requirement specialists work in specific groups or communities in order to get the
required help. Their duties involve identification of work to be performed and undertake to plan
in advance to determine resource needs. Accordingly, they confirm the availability of resources
and make arrangements for the shortages (Kyrylov and et.al., 2020).
5.
Consultation process association with operational plan development is the one where
management of the organization undertakes informal & formal interaction between the
organization & its stakeholders. At the time of development & management of operational plan,
consultation with a wide range of people is must which is done through engaging with external
entities such as suppliers, customers or clients, communities, contractors, etc. The consultation
can be done through meetings, interviews and brainstorming (Globocnik, Faullant and Parastuty,
2020). The process of consultation begins by stating the idea on which the whole communication
would be based, then discussion pertaining to the issues where views from stakeholders are
obtained. The purpose for which consultation took place is to invite stakeholders, so that they
can vote on the plans that the management of the company has created and is going to affect
them directly. In this way, information about needs, desires and expectation of organization’s
stakeholders are obtained.
6.
Outlining the content of the operational plan:
 Title page – the name of the company and the name & designation of the person
creating the plan is mentioned beforehand.
 Executive summary – It provides overview of what entire plan includes to give the
reader a rough idea of the entire plan along with encouraging them to continue
reading.
 Definition of mission and objectives of the company – At next step, the mission,
goals and objectives of the organization are determined which indicates the intention
of the company for the period under consideration.
4

 Provision of key performance indicator – it involves breaking down of business by
evaluating metrics that will be used for determining how successful was the planning.
Quality standards should form part of this section.
 Activities to be delivered
 Including a financial summary to indicate the desired outcome in monetary terms.
 Requirements for resources & staff
 Timescale
 A process through which progress would be monitored
7.
Organizational procurement process involves a series of processes & activities that are necessary
for the organization in an attempt to acquire products & services from the suppliers at the best
possible terms (Ávila and et.al., 2019). The procurement process comprises of four stages which
involves identification for the product or services to be acquired, evaluating suppliers and
selecting the best among several alternatives, placing the purchase order and getting the order
delivered as per the set terms & conditions. Therefore, the following steps form part of the
organizational procurement process:
 Identification of the product or services that the company is requiring
 Submission of purchase request
 Assessing and selecting the vendors
 Negotiating the terms & conditions with vendor
 Creation of the purchase order
 Receiving and inspecting the goods that have been delivered
 Approving the invoice and making arrangement for payment
 Recordkeeping
8. Employee recruitment and induction strategies
The recruitment process is consisted the attracting and securing individual to undertake
the specific organisational roles while the induction process is referred as the assuring the new
employees aware about the new roles and working environments. There are various strategies of
recruitment strategies that include the focus on the candidate experience, social media and the
recruiting must go hand in hand, promote and build the employers brand, recruiting metric must
in recruiting as well as career sites of employees are more important than the think (Johnson,
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