An operational business planning process is what puts your strategic plan into action within the scope of a financial year. It is a kind of specialized business plan that can focus on a number of working areas including an office, agency, branch, division and production facility. When you are set out on an operational business planning process, it should incorporate the important vision, mission and achievements targeted in your strategic plan and relate those to your particular branch or area. In short, it gives you an action plan to translate the larger vision of the strategic plan into implementation activities on the operational areas of your business.
What are the criteria determining operational business planning?
Before jotting down the basic points of your business plan, you must have a clear idea of what configurations in your product or service can help ensure achievement of the strategic objectives. The needs of your customers, your current ability to satisfy them, and what you can do to improve your service capability need to be considered. The details of your suppliers, the mode of supply, the time and cost involved in the whole supply process are some other factors you have to consider.
After the primary considerations, your operational business planning will require you to identify what need to be done to get your business functions into optimal condition. While producing the plan, you may also assess the possible risks of each step and your contingency plan to overcome them. This part of the business plan is especially important if your industry is subject to volatility and rapid change.
A look into the daily business details
Apart from the major strategic aspects, you must not ignore the possible modifications you can make in the daily operations of your business to improve performance. This may include the physical space it will take up and the infrastructure details like layout and hardware. The raw materials needed for the production, the details of the production process itself, the inventory and the cost involved in the entire process are absolutely at the core of operational business planning.
The future perspective of the operational business planning
Once you have taken care of these immediate priorities, you must extend your vision to those parts of the business plan that have to do with the future action plan of your business. This can include topics like the following:
* The new customer contracts you want to secure
* The important financial investments that you want to undertake
* The revenue milestones you plan to attain
* The important employees you want to hire
Both the short-term and long-term processes are equally integral to the operational business planning. No matter what steps you think crucial and undertake in the future, it always helps to remember that the way you handle the operational business planning will determine how well you execute your company's vision and overall strategic plan.