Category: Management

Manage Operational Plan

Management is the coordination of activities to achieve a set goal. Management is considered to be a factor of production that involves marketing and innovation. Essentially, marketing forms an essential part of the economy in society as it provides important input in specifying consumer preference. Thus, the marketing activities create utility in time, place, and ownership. Normally, place and time utility takes place when products are available when and where the customer wants to purchase them. Meanwhile, ownership utility occurs when the products are transferred at the time of purchase.

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Nonetheless, it is important to manage an operational plan as it directs people on how to perform daily organizational tasks through its detailed information. Therefore, it is vital to empower managers to make decisions, take responsibility, and oversee the running of an organization or business activities in a detailed manner. Thus, this paper considers the aspects of management that would lead to a successful operational plan in an enterprise.

Management

The success of any business highly depends on the management of its leaders. The managers of any enterprise should be capable of performing the functions of organizing, planning, controlling, and leading. When planning, organizational goals should be determined, and ways of achieving them should be set (Hill, Jones, & Schilling, 2014). Ordinarily, planning motivates people to improve performance through working harder for longer periods engaging in behaviors that assist in accomplishing goals and developing better ways of doing jobs. Besides, companies that devise such a plan tend to experience faster growth and larger profits. In terms of organizing, decisions should be made regarding who works for whom, who does which tasks, where decisions will be made, and so on.

An example of this is the Yahoo Company that has a group for technology and another for the audience. Therefore, the audience group takes care of Yahoo products like media and communication, while the technology group creates technological platforms that support the whole organization.

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In terms of leadership, an organization should motivate and inspire employees to work harder in achieving organizational goals. People need to feel engaged and motivated to contribute to important matters. Meanwhile, the controlling function should involve monitoring the progress of achieving the set goal and taking the necessary action in case of stagnation (Hill, Jones, & Schilling, 2014). Thus, the main activities in control are setting standards of achieving goals, comparing ground performance with set standards, and returning performance to those principles.

Consequently, for managers to be able to perform these basic functions, they need to share information with other managers, adapt to their subordinates, negotiate for projects, schedules, and resources as well as handle severe pressures and problems. Therefore, good management requires more than just intelligence as conceptual and human skills, and the motivation to manage is important among others. A manager with human skills can work well with others while one with conceptual skills can understand the functioning of different parts of the organization, and the one with skills of motivational management can be able to assess employees' enthusiasm towards work.

Marketing Management

Production could have no meaning if a system of marketing does not exist, hence making the exchange process a source of marketing. Thus, relationship marketing has been of greatest success as it focuses on developing long-term consumer relationships and delivering superior quality goods. This has created the need to have a marketing framework that supports business growth. Usually, the important aspects of the marketing strategy include having a target market and mixing the variables of product, price, and promotion to satisfy the market need (Wilson & Gilligan, 2012).

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In essence, the marketing activities emphasize the customer; thus, after selecting a target market, most marketers manipulate variables to profitably fulfill the market`s requirements. In product strategy, decisions are made concerning packaging, labeling, customer service, and brand name. Meanwhile, the price strategy involves establishing profitable and justifiable prices as the promotional strategy involves creating a consistent, effective, and unified message.

In the recent past, growth in the service sector has expanded, and marketers have realized that services cannot be marketed in the same way as products. Moreover, due to the lack of service tangibility, it is inseparable from the owner, Services are heterogeneous in that service providers are not the same, and they are perishable as inventories of their products cannot be maintained.

However, service marketers have been able to provide physical evidence in regards to service equipment and personnel while processes have been incorporated to solve heterogeneity and variability, and lastly, the service providers themselves have been influential to perceived service quality as they are the part of the services given. With the advancements in technology, a global audience is now being targeted for products and services. Unfortunately, most international marketers encounter additional challenges like different laws, cultural norms, and consumer preferences, hence making it complex to manage international business environments.

Manage Operational Plan

Commonly, an operational plan aims at bringing a new idea to a successful implementation and completion in an enterprise. Thus, to manage the plan, it has to be divided into parts that allow understanding of what is being done and the direction taken to reach it. New operational plans require proper research of the resources needed to implement the plan (RMIT, 2016). At times, physical resources including human resources may be required.

Also, the plan needs to convey major issues foreseen by the plan as it elaborates consideration of possible outcomes of implementing the plan. Besides, the more detailed the information on organizational performance is, the more detailed impact of the plan on performance is making the plan favorable as a whole.

Table 1

Outline of the Major Sections of a Business Plan.

General Presentation

Ensure that the plan is identifiable as the one that may be used later. In this manner, managers have to know what to expect from parts of the written plan and where to find them.

Table of Contents and Cover Page

The cover page identifies the author of the plan, its title, and whom it was written for. Regarding the table of contents, it should allow finding what the reader wants with ease.

Business Background

This part gives the current business overview including its history, market where it sells its products, and services it provides.

Action Plans

This part explains the resolution process of management and operational issues.

Financial Estimates

This section shows the financial estimates by outlining historical financial information and ways the plan promotes enterprise activities.

Appendix

This section gives more details about previous sections.

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Conclusion

The managers of any enterprise should be capable of performing the functions of organizing, planning, controlling, and leading. However, good management requires additional skills like conceptual and human ones and the motivation to manage. Moreover, without a marketing system, production could have no meaning, hence making the exchange process important.

The most essential aspects of the marketing strategy include having a target market and mixing market variables to profitably satisfy the market. Meanwhile, it is important to have an operational plan when bringing a new idea to an enterprise. The plan should be manageable by dividing it into parts that allow understanding of what is being done and the direction to advance. Thus, operational management requires a thorough comprehension of all the inner processes of an organization for a proposal of viable plans.

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