Diploma of Finance and Mortgage Broking

Running head: Diploma of finance and mortgage broking
Diploma of finance and mortgage broking
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Running head: Diploma of finance and mortgage broking
Executive Summary
Operational planning is the procedure of planning the strategic goals in the context of tactical
goals and objectives. It further describes the conditions for success along with the milestones and
portion of a strategic plan to be executed in a particular fiscal year.
It forms the basis for justification of the yearly operating budget request. For every mortgage
broker, the operational plan is the safest way of leading the business towards success. It
represents the framework within which the mortgage broker shall operate.
So, the following report will inform the readers about various aspects of operational plans. It
shall also define one of the budgeting processes to be used by the organization.
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Running head: Diploma of finance and mortgage broking
Contents
Written Activity...........................................................................................................................................3
Introduction.................................................................................................................................................3
Models and methods for operational plans..................................................................................................3
Role of an operational plan in achieving the organization’s objectives.......................................................4
Description of a budgeting process used by the organization......................................................................5
Alternative approaches for developing key performance indicators to meet business objectives...............6
The legislative and regulatory context relevant to the operational plan of the organization........................6
Organization’s Policies, Practices and Procedures that directly relate to the Operational Plan....................7
Conclusion...................................................................................................................................................8
Observation/Demonstration.........................................................................................................................9
SWOT analysis of the proposed tour business.........................................................................................9
Viability of the proposed business...........................................................................................................9
Name of the business.............................................................................................................................10
Mission Statement for the business........................................................................................................10
Vision Statement...................................................................................................................................10
Draft Values Statement of the business.................................................................................................10
Organization Chart indicating the functional units of the business.......................................................11
Draft Management Plan of managing the marketing unit of ‘Cycling Zone’.........................................11
Key Result Areas (KRAs) for the Unit/Team........................................................................................13
Operational Plan that will achieve these 2 KRA....................................................................................13
Resources Required to Implement the Operational Plan.......................................................................13
Resources needed to achieve the goal...................................................................................................14
Strategy for obtaining any identified additional resources including approvals.....................................14
Key Milestones in the Implementation of the Operational Plan.............................................................16
A checklist for monitoring the progress and effectiveness of the Operational Plan..............................18
Methods to monitor and review the implementation of the Operational Plan........................................18
List of contingency plans for the operations..........................................................................................19
Plan for protecting the intellectual property..........................................................................................20
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Running head: Diploma of finance and mortgage broking
Questions...................................................................................................................................................21
Answer to Q1.........................................................................................................................................21
Answer to Q2.........................................................................................................................................21
Answer to Q3.........................................................................................................................................21
Answer to Q4.........................................................................................................................................22
Answer to Q5.........................................................................................................................................22
Answer to Q6.........................................................................................................................................22
Answer to Q7.........................................................................................................................................22
Answer to Q8.........................................................................................................................................23
References.................................................................................................................................................24
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Running head: Diploma of finance and mortgage broking
Written Activity
Introduction
Operational plan defines the milestones and conditions within which a portion of the strategic
plan shall be operated during a given time period. It is the procedure for planning the strategic
goals in the context of tactical objectives.
Thus, they form the basis to justify the yearly operating budget request. So, a five-year strategic
plan would require five operational plans sponsored by five operating budgets. In the context of
mortgage broking, the operational plan consists of strategies or tasks to be accomplished. 1
It shall also mention the individuals having the responsibility of each task and the timelines
within which they should be completed. The number of financial resources shall also be revealed
for completing the task.
So, this report shall discuss the various aspects of operational plans in the context of mortgage
broking. It shall also define one of the budgeting processes to be used by the organization.
Models and methods for operational plans
An operational plan can be subdivided into two forms comprising of a single use plan and
standing plan . A single-use plan can be developed for carrying a course of action which shall not
be repeated in the future. These plans are used for achieving the unique aims of the business.
1 Safari Books Online, The Role Of Operations Strategy (2019)< https://www.oreilly.com/library/view/operations-
management-an/9781118122679/ch2-sec004.html >
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Running head: Diploma of finance and mortgage broking
For example, if the mortgage brokers have a single event coming up, then they can use a single
plan for covering everything relating to that event. On the other hand, a standing plan has been
developed for activities occurring repeatedly over a period of time.
They are intended for solving the repetitive nature of problems of the business. The standing
operational plan shall advise the mortgage brokers about the solutions of the repetitive problems
which arise in the everyday routine of their business2.
Role of an operational plan in achieving the organization’s objectives
The operational plan provides specific information to people so that they can perform specific
tasks which are essential for running a company. The mortgage brokers should refer to the
operational plan frequently for executing their routine activities3.
The role of the operational plan is to provide the strategies and tasks to be undertaken. It also
mentions the people accountable for executing those strategies and tasks. It also mentions the
timelines within which the strategies and tasks must be executed.
2 John M. Bryson, Strategic planning for public and nonprofit organizations: A guide to strengthening and
sustaining organizational achievement (John Wiley & Sons., 2018) 1-50.
3 Malcolm McDonald and Hugh Wilson , Marketing Plans: How to prepare them, how to profit from them(John
Wiley & Sons., 2016) 1-10.
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