When running a business, it is essential that you have a business operational plan in place to help you and your business in setting specific business goals and objectives. An operational plan is defined as a set of clearly defined actions that will support the objectives and strategic plans of higher management. With that being said, operational plans provide an outline of the the specific daily tasks that each member of a team or group must take to accomplish certain goals.
Having an operational plan for your business will make things organized and allow you to focus and reach your business goals within the your estimated timeframe. It is actually very useful that is why a lot of different industries turn to using this awesome tool. Let us further learn about business operational plans. Business operational plan templates and samples has been prepared to help you further understand what it is. You may check them all out below.
Editable Business Operational Plan Template
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Restaurant Sample Business Operational P
What Does Business Operations Mean?
In order for a business to function efficiently in the highest possible manner, business operations plan are created, tested and implemented. It includes business practices that are sure to get the job done and maximize the profit earning capability of the business. Business operations are handled or managed by the operations management team. The operations management team is responsible for converting business materials into useful products and reliable services, as well as in balancing business costs and revenues.
Specific responsibilities of operations management in business:
- Management of various strategic issues, namely project management and different methods of project implementation
- Determining the size of manufacturing plants to build or construct
- Inventory management in all levels, including quality control, work-in-process, maintenance policies, acquisition of raw materials, etc.
- Studying raw materials and their uses
- Minimizing wastes produced in manufacturing
- Inventory control or stock control
It is always best to have a business operational plan in running and managing a business so that you can have the things mentioned above done. Important tasks are handled by business operations and a business operational plan is just the perfect tool to use. If you wish to learn more about operational plans, we have related article that you may find interesting, like Security Operational Plan Samples & Templates and Project Operational Plan Samples.
What Are Operational Plans for a Business?
There are basically three types of operational plans being utilized in business regardless of its nature or the industry it belongs to. The tree types of plans are strategic plans, tactical plans and operational plans. These three plans are categorized based on the level of management where they are being used on. Let us briefly discuss each of them below.
Strategic plans are created by top management and is created with the entire organization in mind as a whole. So the goals and objectives in this plan is very broad and general, which is also true with the level of detail that it included in it. The things that are being planned in a strategic plan include the future goals of the company or organization, their mission and determining the direction to which the company or organization should take to become better.
Just like a strategic plan, tactical plans are also not very detailed but they still prove to be a very useful planning tool within a company or organization. To create a tactical plan, mid-level management from different divisions or departments within the company takes a strategic plan as the basis of their plans and actions. These actions are carefully planned and specifically created to support the strategic plan. Tactical plans are short-term plans and are not used by the entire company and may vary depending on the nature of the job of the department or team using it.
Within a division or department in a company there exists different teams or groups that work together to accomplish specific goals. These teams or groups within a department or division in a company make use of operation plans. Operational plans are created by low-level management. Unlike a strategic plan and a tactical plan, an operational plan is extremely detailed that it provides the who, what, where when and how of certain tasks or activities. Just like how the tactical plan basis its actions on the strategic plan to support it, operational plans are also created in a way that supports the tactical plan and the strategic plan of the entire company or organization. This is where an outline of the day-to-day tasks and specific goals can be found.
An operational plan us further subdivided into two categories, namely single-use plans and ongoing plans.
- Single-Use Plans – As its name implies, single-use plans are only used once and they only take care of current or existing problems. The plan will be stopped and closed ones the problem has been fixed.
- Ongoing Plans – This is the exact opposite of the single-use plan as it is used for a long period of time. The use of the plan continues in the future and changes are done along the way if the need arises.
Knowing the different operation plans in business will help you understand about how they plan for their success, how they are able to reach their goals and they are able to maintain good panning strategies. Other related articles that you may find useful are School Operational Plan Samples & Templates and HR Operational Plan Samples & Templates.
What Are the Key Components of an Operational Plan?
There are eight key components of an operational plan that you should know of, especially if your job requires you to create an operational plan for your team. The key components are the following.
- An operational plan should have clear objectives.
- An operational plan should have activities to be delivered.
- An operational plan should a set of standards for quality.
- An operational plan should have key targets and key performance indicators.
- An operational plan should have a risk management plan.
- An operational plan should have staffing and resource requirements, which includes resources for the budget.
- An operational plan should have a timetable for the implementation of the plan.
- An operational plan should have a progress monitoring process.
Project Operational Plan Template
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How to Create a Business Operations Plan
Want to make an operational plan, but don’t know where to start or how start? Well, worry no more! Now, that we have little background about what an operational plan is and how it is useful in business, we will be helping you with creating your very own business operational plan. And we made sure that they are simple and easy.
- The first thing that you need to do in creating a business operations plan is to take into consideration what the strategic plan and tactical plan of the business is. If these both plans are already created then use it as a basis for your specific goals and objectives. If not, then you will need to create the strategic plan for the entire business first before starting with your operational plan.
- You know how you many specific goals and objectives you can come up with when creating your plan? There is a lot, no doubt about it. And can you really accomplish all of these goals and objectives that you have set? Well, maybe. To ensure that you get things done, make sure that you operational focuses on goals and objectives that matter. Think of what these objectives are from your list and focus on them.
- Now, how do you choose which goals and objectives to focus on or which ones matter? The answer is simple. You will need to use leading indicators. Leading key performance indicators are those that will potentially help the business do better or gain more.
- Take time to create your operational plan. Rushing and being hasty may just be a waste of time and resources if your operational plan appears to be useless or ineffective. Allot enough time for every key performance indicator you choose and create.
- Communicate your plan and key indicators to everyone involved in the business. Conduct a meeting regularly or set specific time to do so. Communication is very important in any business because it lets everyone know what you are up to and what the business needs are.
Follow these simple steps to get you started with your business operational plan. Do not forget that practice makes perfect so in time you will become better with it. Also, to make it easy and convenient for you to create your business operational plan, you can download free and editable operational plan templates online. We also have templates for other related topics that you may be interested in, like Simple Operational Planning Samples & Templates and Annual Operational Plan Samples & Templates.
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