Accounting technicians scheme west africa
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- Operational Plans
- (B) Plans Based on Time Frame This takes into consideration the following ii bLong Range Plans
| Synergy – which means the integration of the efforts of various organizational sub- units to better accomplish corporate-wide business objectives. (ii) Tactical Plans these plans are developed at the division or departmental level. They specify the activities that must be performed, when they must be completed, and the resources a division or department will need to complete the portions of the strategic plan under its purview. 109 The primary criterion of effectiveness for tactical plans is the extent to which they contribute to the achievement of the company’s strategic objectives. In general. Tactical plans cover a period of one to two years. Two important aspects of tactical plans are division of labour and budgeting (Gomez-Mejia, Balkin, and Cardy, 2005). Thus, tactical plans fall in between strategic and operational plans and have more narrow, intermediate term, and specific than strategic plans, hence, tactical plans deal more with issues of efficiency than with long-term effectiveness. iii) Operational Plans: are management plans normally created byline managers and employees directly responsible for carrying out certain tasks or activities. This type of plan is focused, short-term, and specific. It translates the broad concepts of the strategic plan into clear numbers, specific steps, and measurable objectives for the short term. Besides, these plans tend to be narrowly focused on resources, methods, timeliness, and quality control issues fora particular kind of operation. In general, the time frame for operational plans is shorter than for tactical plan. Thus, operational plan requires efficient, cost-effective application of resources to solving problems and meeting objectives. (B) Plans Based on Time Frame This takes into consideration the following ii bLong Range Plans these cover many years, perhaps even decades. The time span for long-range plan varies from one organization to another. Here, we regard any plan that extends beyond five (5) years as long range. iii bIntermediate or Medium Range Plans are somewhat less tentative and subject to change than a long-range plans. Intermediate plans usually cover periods from one to five years and are especially important for middle and first-line managers. Thus, intermediate plans generally parallel tactical plans. iii) Download 3.37 Mb. Share with your friends:
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