Principles of Management Assignment
Principles of Management Assignment
Principles of Management Assignment
MGT1313
NO ID: 05-0813-00014
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PRINCIPLES OF MANAGEMENT
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INDEX
TOPIC
FRONT PAGE
INDEX
INTRODUCTION OF MANAGEMENT
STRATEGIC PLAN
GOALS SETTINGS
TACTICAL PLAN
OPERATIONAL PLAN
REFERENCES
CONCLUSION
PAGE
1
2
3
4
5
6
7-8
9
10
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resources,
technological
resources,
and
natural
resources.
Since
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"What do we do?"
"How do we excel?"
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One can see from this that the strategy always comes first, then come the tactics. For
example, a value-based commitment to environmentally responsible hospitality could
be reflected strategically by working toward Green Globe certification, and tactically,
incorporating energy efficient appliances in the motel retrofit.Tactical plans are
beneficial to companies because the steps developed in the plan help management
find inefficiencies in its operations. Once operational short comings are discovered,
management can take the necessary steps to make corrections. Tactical plans also
allow companies to benefit from the input of its employees. Effective tactical plans
must include the input of individuals involved in the day-to-day operations of a firm.
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operational plan is the basis for, and justification of an annual operating budget
request. Therefore, a five-year strategic plan would typically require five operational
plans funded by five operating budgets. Operational plans should establish the
activities and budgets for each part of the organization for the next 1 3 years. They
link the strategic plan with the activities the organization will deliver and the
resources required to deliver them. Operational planning focuses on a firm's products
and services and develops plans to maximize market share and develop financial
projections.Operational planning focuses on the production, equipment, personnel,
inventory and processes of a business. An operational plan uses an organization's
financial ratios to analyze profitability. For example, the plan may include
contribution ratio analysis to determine what processes are required to increase
profits. This could include focusing on selling its premium products or reducing
variable costs. An operational plan draws directly from agency and program strategic
plans to describe agency and program missions and goals, program objectives, and
program activities.A benefit of operational planning is that a company is able to
analyze the effect of its operations on profit. Operational planning dissects a
company's financial position, identifies weaknesses and develops ways to increase
profits. A disadvantage of tactical and operational planning is that the developmental
process is time consuming. Some managers are lost in the process because they spend
an excessive amount of time planning and little to no time implementing the plan.
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The operations plan is both the first and the last step in preparing an operating budget
request. As the first step, the operations plan provides a plan for resource allocation;
as the last step, the OP may be modified to reflect policy decisions or financial
changes made during the budget development process. Operational plans should be
prepared by the people who will be involved in implementation. There is often a need
for significant cross-departmental dialogue as plans created by one part of the
organisation inevitably have implications for other parts.
REFERENCES
http://en.wikipedia.org/wiki/Operational_planning
http://en.wikipedia.org/wiki/Strategic_planning
http://en.wikipedia.org/wiki/Goal_setting
http://wafataft.tumblr.com/post/5478833269/on-levels-of-war
http://smallbusiness.chron.com/tactical-operational-planning-18336.html
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CONCLUSION
DIPLOMA IN BUSINESS MANAGEMENT
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The first level is the strategic level. It is often characterized as level in which the
decisions of most political and civilian leaders take place. It is the level of war in
which a country determines the objectives of the war, opportunities and challenges
from and within the war, relevant national resources available to the country as means
to achieve these goals, opportunities, challenges, and how to deal with them. Here,
states develop plans, translate values into objectives, make alliances, assess risks and
costs, as well as outlaying the prospect of the war and visions stemmed from it.
Actors in this level include, but not limited to: government officials, strategic
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