Manage Operational Plan Assignment Help
1. Consider yourself as a operational manager in your current workplace. You have to develop and implement operational plan using information from your organisation.
Ensure that you:
- Plan adequate resource allocation
- Choose relevant key performance indicators
- Put in place performance monitoring processes
- Develop relevant contingency plans.
2. Communicate effectively with relevant stakeholders (discuss with your assessor assuming him or her as the relevant stakeholder of the organisation) during the development and implementation of the plan.
Ensure that you:
- Provide supporting information (e.g. specialist information, data)
- Seek approvals for plan where necessary
- Identify variations and negotiate for them
- Engage work teams.
3. Develop and implement strategies to achieve the operational plan within the organisation’s policies, practices and procedures.
Ensure that you consider:
- Recruiting, inducting and developing personnel according to the organisation’s policies.
- Acquiring physical resources and services according to the organisation’s policies.
- Protecting intellectual property
- Making variations to the plan
- Develop, Monitor and review of documenting performance in order to achieve productivity.
- Identify and analyse budgets and financial information
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1. Development and implementation of operational plan using information from the chosen company
In order to develop and implement the operational plan in an accurate manner it is very important to plan the adequate resource allocation to prioritise the task within the workplace. For meeting the organisational goals the management needs to allocate the proper resources like for operations determine the proper raw materials, for human resources implement new training software and for accounting using different channels to collect funds. As per the identifying tasks, the management therefore determine source of funding. There are certain contingencies like prioritise the tasks as per the risks associated with it and rank them from high to low. The identification of tasks that can be easily transferable to the other team members can be also anticipated through this process (Noe, Hollenbeck, Gerhart & Wright, 2017).
Selecting the right technique of KPI (Key Performance Indicators) for the operational plan of the given company is one of the vital aspects to achieve the strategic objectives. However, through the availability of a variety of data and information in the digitalisation era it can be a little difficult to choose the right from which the business can get optimal value. In this case KPI to indicate the per unit profit and per unit production cost level has been measured through which the company can easily align both the profitability and productivity aspects which enhance the business insight for taking appropriate decisions to nurture the business orientation (Katayama & Lee, 2018).
Through the data collection, process the monitoring strategy can be originated in which the risk management procedure with mitigating the visibility error can be omitted. Through the performance monitoring procedure, the managers can maintain the strategic framework in order to achieve the goals within specific period of time within less investment. In accordance to this business plan, the company has implemented SMART monitoring framework to measuring the time-bound based on the specific goals to achieve the expected result.
Through the effective contingency plan, the company can strengthen the company's efficiency in such manner that during the uncertainty or unexpected event occurrence the company can stand alone to mitigate the risks management. In this regard, the cross-cultural impact has been there for which the occurrence level to raise a conflict can be there. Thus, the company has implemented contingency plan to develop the internal practices in which the workplace environment along with the disruption related to corporate governance can be established to obtain the business goals (Avgerou & Walsham, 2017).
2. Effective communication process with relevant stakeholders during the development and implementation of the plan
The effective communication process can be very essential in terms of distributing the relevant information to the stakeholders through the help of which the development and implementation plan can be strategically instigated. The stakeholders are key people who are directly and indirectly responsible with the development procedure. The managerial accounting reports are distributed within the internal people of workplace to make decisions and achieve the business goals. The annual reports can be helpful to anticipate the investment related decisions based on the company's past performances (Raymond et al. 2017).
Through the effective communication procedure, the information and all business operation related data can transfer from top-level management to bottom level workers. The communicational flow can play act like the life blood in order to distribute the communication through various channels so that the management can take decisions by critically evaluate the risk assessment procedure in a comprehensive manner. The communication can generate the awareness and build the workplace relationship, which influence the team management to enhance the level of cooperativeness and productivity.
In order to increase the level of variation in the workplace the management can not only influence and encourage the efficiency of the employees but also give them the platform to use their creativity and convert it into reality in an effective manner. The diversification in the workplace can exaggerate the internal atmosphere in an optimal level whereas the diversification can also create a negative impact to instigate the conflict. The leadership management comes in the place of attention through which the leaders can reliable and accountable towards the productivity and profitability within the business environment (Rouhani, Mahrin, Nikpay, Ahmad & Nikfard, 2015). The leaders must be flexible and show their negotiating treat to allow the employees expressing their difficulties and quarries in the diversifying working culture.
Individual effort is far differed from the team effort as in the team effort the communication can transfer the knowledge and skills within the other members of the group which can enhance the productivity level of the company in a multiple way. On the other hand, the individual effort can instigate the single aspect among a wide range of workplace dimensions. By encouraging the team members, the company can not only complete the work within the specific period of time but also run the healthy competition for which all the employees can pay extra effort to get rewards and compensation at the end of the year (Austin & Pinkleton, 2015).
3. Development and implementation of strategies to achieve the operational plan within the organisation's policies, practices and procedures
The company needs to measure the existing policies and based on this they can anticipate whether the company needs to implement any other practices for the sake of the internal control or not. Human resource management is one of the complex and essential aspects through the help of which the company can earn more brand equity as well as profit margin. For this the company needs to spend a bigger amount of investment in its induction and recruitment procedure as the employees are the main internal stakeholders for an organisation (Epstein, 2018).
In order to imply the proper tools of software to record the transaction regarding the physical resource acquire the management can eventually try to reduce the time and cost in order to maintain the administration expenses within a financial year.
The protection of the intellectual property such as patent, copyright, trademark is very essential and creates a substantial impact on the corporate governance hierarchy along with the internal infrastructural procedure. The business policies and practices can be enforced based on the business motive to protect the intellectual property in an effective manner.
The company needs to bring more varieties for implementing a plan for achieving the mission and vision statement. The contingency plan needs to be established so that the company can have the ability to cope up the unexpected events that might occur during the operational development orientation (Bryson, 2018).
The management of the company need to track continuously over each of the performances made by the employees. These activities need to be documented so that in later period of time the company can make further improvement based on the performance penetration.
Atlas the financial performance observation along with the budget forecasting method is one of the foremost agendas in order to meet the project management without spending much money on it. The cost effectiveness of the project can not only generate the business efficiency but also influence the amount of net profits by controlling the operating expenses within an accounting period (Mosadeghrad, 2015).
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