MANAGEMENT

Implementation of Operational Plane

Implementation of Operational Plane

Introduction

Operational planning is the process of converting the strategic goals of a business into managed execution. It is a document that outlines the step by step approach implemented to reach the ultimate goal of a business. The operational plan mentioned in the case study is about a camp trailer business that is newly set up by Rosa. It highlights the several steps taken to transform her idea into a realized business of manufacturing and selling the camp trailers.

The assignment starts with the brief description of the business, focus of the operational plan and the operational objectives highlighted in the case study. It also aims to explain the methods used to approach the key stakeholders and various budgets and variance reports formed to measure the performance of the business. The support techniques and monitoring system are also outlined to help the management improve the performance standards and enhance the efficiency and effectiveness of productivity level.

Discussion

Operational plan helps to translate the business strategy into daily execution tactics of the business that ultimately produce the defined outcomes (www.methodframeworks.com). The operating budget is concerned with cost-cutting efforts and maximizing the wealth of the shareholder. Operational plan outlines the process that will be followed to achieve the vision and objective of the business. It also keeps track of the money flowing in and out of the business, and it provides support to attract the investment in the business.

Overview of the Business

The case study is about the camping trailer business. Rosa is determined to utilize her years of experience in the sales of caravans, in her start-up business. The business is engaged in manufacturing and selling of trailers (www.methodframeworks.com). Travel trailers are the choice of people who want to have a luxurious travel with their family. These are typically used when people hit the roads.

It is a business that starts with larger costs for dealers even before they launch their business. There are different types of the travel trailer including the travel trailer lightweight, RV trailers etc (www.startupbizhub.com).

Focus of Operational Plan

The focus of the operational plan is on the activities that would help to achieve the objective of business. It is highlighting the operational plan for the coming four months with the sales and cost forecast to be accomplished in a specified timeframe (Frans, n.d., p. n.d.). It typically focuses on the annual objectives, followed with tactic goals, which are segmented into quarterly, semi-annually and weekly basis. This operational plan is reflecting that SMART (Smart, Measurable, Agreed, Realistic and Time-bound) operational objectives are set to accomplish the strategic goals of the business.

Operational Objectives

It is the step by step description of steps to be taken to meet the desired business objective. It has key components include the human resource, financial factors, operational factors and integrated risk.

Human factor

The strategy of human resource development is the first and foremost step that involves the cost analysis of people involved, the cost of hiring and training the employees (Burley, n.d., ...