Assessment task 1 Questions (1 - 6).odt - Q No 1 Explain the purpose of a Strategic Plan and an Operational Plan and the role of an Operational Plan in

Assessment task 1 Questions (1 - 6).odt - Q No 1 Explain...

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Q. No. 1. Explain the purpose of a Strategic Plan and an Operational Plan, and the role of an Operational Plan in achieving the organisation’s objectives. Ans: The purpose of a Strategic Plan is: To focuses your efforts and ensures that everyone in the business is working towards a com- mon goal. To help to agree actions that will contribute to business growth to align resources for optimal results to prioritise financial needs to build competitive advantage to engage with your staff and communicate what needs to be done to help you manage and reduce business risks. The purpose of the Operational Plan is to provide a clear image of the duties and duties of the organization staff in line with the goals and objectives of the Strategic Plan. The Operational Plan is essentially a plan to implement the policies contained in the Strategic Plan. It is a leadership instrument that promotes the coordination of the assets of the organization (human, economic and physical) in order to achieve goals and goals in the strategic plan. References: Q. No. 2. Explain the difference between an operational plan modelled on the organisation as a whole and one that has been modelled to suit a specific organisational goal or department. Ans: Tactical planning is an extension of strategic planning, and for all levels of an organization tactical plans are created. It sets out the particular measures necessary to enforce the strategic plan of a company. Tactical plans are typically short-term in nature and describe what a business needs to do, the order of steps required to accomplish those tasks, and the staff and tools needed to meet the strategic goals of the organization. A company's tactical plan may include many of its departments' inputs. You should check the plan on a frequent basis after finishing and applying the tactical plan of your business to confirm that your business is adhering to the measures described. Focusing on the products and services of a company, operational planning creates plans to maximize market share and create economic projections. Operational planning focuses on a company's manufacturing, machinery, staff, inventory and procedures. An operational plan uses an organization’s financial ratios to analyze profitability.
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