12th September 2018

businessdictionary
13

What is an operational strategy?

A plan specifying how an organization will allocate resources in order to support infrastructure and production. An operations strategy is typically driven by the overall business strategy of the organization, and is designed to maximize the effectiveness of production and support elements while minimizing costs.

Furthermore, what is included in an operational plan?

Operational planning is the process of planning strategic goals and objectives to tactical goals and objectives. Therefore, a five-year strategic plan would typically require five operational plans funded by five operating budgets.

Why is an operational plan important?

The purpose of the Operational Plan is to provide organisation personnel with a clear picture of their tasks and responsibilities in line with the goals and objectives contained within the Strategic Plan. Basically, the Operational Plan is a plan for the implementation of strategies contained within the Strategic Plan.

What is the operational plan in a business plan?

An operational plan can be defined as a plan prepared by a component of an organization that clearly defines actions it will take to support the strategic objectives and plans of upper management. However, to fully understand operational plans, we should first look at the overall planning process within a business.
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