Accounting technicians scheme west africa


A.8.3 Operational Planning (Lower level management)



Download 3.37 Mb.
View original pdf
Page120/327
Date31.08.2022
Size3.37 Mb.
#59434
1   ...   116   117   118   119   120   121   122   123   ...   327
37
A.8.3 Operational Planning (Lower level management)
Operational planning is focused, short-term, and specific. It is the responsibility of lower level management. Operational planning translates the broad concepts of the tactical plan into clear numbers, specific steps, and measurable objectives for the short term. (see dimensions/types of
plans above for more elaborate discussions.
A.9
Benefits of planning

(i)
Assessment of External Forces

Planning requires managers to assess the external forces that affect the company. This helps the company respond to challenges present in the environment. ii)
Developing a sense of Direction and Purpose
A well-designed plan helps both managers and employees to understand what the organisation is trying to achieve as well as the role that each plays in accomplishing those goals. Without a plan, managers and employees may not recognize how they share a common fate, even if they carryout the tasks they think are important. The lack of a clear sense of direction leads to multiple and often conflicting goals and the ineffective use of resources.
(iii)
Identifying the factors that affect the organisation

Properly conducted planning helps the organization focus on factors relating to survival, renewal and growth. iv)
Encouraging participation
When workers participate in managerial activities, they tend to buy in and work much harder to see that an effort succeed. They also experience stronger feelings of commitment to the organisation. vb Coordination of Efforts

Managers who operate independently may not be aware of what other managers are doing. The planning process may help them coordinate efforts more effectively.


118 vi)
Establishment of Priorities
Planning can help a firm prioritize its major problems or issues. Lack of priorities can dilute the organisation’s efforts or make it susceptible to managers who take advantage of the confusion to impose their own agendas. Also, failure to define priorities causes the firm to drift and prevents it from developing a clear strategic focus. vii)

Download 3.37 Mb.

Share with your friends:
1   ...   116   117   118   119   120   121   122   123   ...   327




The database is protected by copyright ©ininet.org 2024
send message

    Main page