Annual Budget Monitoring & Review
Added on 2020-07-22
14 Pages3755 Words95 Views
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Managing OperationalPlan
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................4Q1. (a) Need of resources to develop an operation plan........................................................4Q1. (b) Consultation process and requirement of operation plans.........................................4Q2. Key performance indicators that can help in measuring the overall organisationalperformance. ..........................................................................................................................5Q3. Importance of contingency plan .....................................................................................5Q4. (a) Methods used to obtain the approval of operational plan.........................................5Q4. (b) Reason why approval for operation plan is important...............................................6Q5. Way of planning and managing the resources in planning process.................................6Q6. Some performance measures that help to achieve profitability and productivity...........6Q7. (a) Financial supportive document that helps to monitor and review productivity........7Q7. (b) Answering following questions.................................................................................7Q8. Steps used to identify following matters.........................................................................8Q9. Set up system of mentoring and coaching that help to support team members...............8Q10. Examples that help in documenting the overall organisation’s performance................9TASK 2............................................................................................................................................9Q1. Develop operation plan....................................................................................................9Q2. Implementation plan......................................................................................................11Q3. Resource acquisition......................................................................................................11Q4. Monitoring performance of business.............................................................................12Q4 (a). Identify the systems you will put in place to monitor your business performance..12Q4(b). What financial reports can you use to monitor the financial performance of your newbusiness.................................................................................................................................12Q4(c). If you have made some variations in the existing operational plan on the basis of themonitoring and review process, what should you do?.........................................................13Q4(d). List all the documents would you like to record in the process of managing thisexpansion plan......................................................................................................................13CONCLUSION.............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONIt is necessary for every organisation to develop and monitor their operation plans thatcan help to achieve higher profitability and productivity. With the help of operation plan,business is able to make effective and efficient practices at their workplace. Business should usetheir resources in an optimum manner. With the help of operation planning, business can easilyanalyse and measure their performance (De Leeuw and van den Berg, 2011). There are varioussources available that can help in providing data and information which help in increasingcompany’s productivity. Business has made various plans and strategies that can help toimplement their operations and activities. The present report is based on managing operationalplan of Apple which is located in Australia whereby organisational hierarchy is explained. Also,the requirement of resources needed to formulate an organisational plan is discussed. Further,key performance indicators that help in measuring the overall organisational performance isstudied here.TASK 1Q1. (a) Need of resources to develop an operation planIt is necessary for every business to make operation plans that can help to achieve goalsand objectives in the long term (Denney, 2011). The organisation assesses resources such as rawmaterial or equipment, software, human resources and infrastructure that help to develop anoperation’s plan. Q1. (b) Consultation process and requirement of operation plansConsultation process is a part of the operational planning process. This plays animportant role in developing and improving the operational plan to analyse the researches. It alsoincreases the motivation level of people so that they can be able to give their ideas and thoughtsrelating to any matter. Top consultants are the people like college and specialist resourcemanager and relevant personnel who help in meeting the researching requirement of an operationplan (Fillinger and Lindsay, 2011).4
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