The centre piece of the operational plan is an annual financial plan or budget. Key components of the operational plan are:
• Marketing and Sales plans
• Production plan
• Supply plan
• Distribution plan
• Financial plan
• OHS plan
• Customer Service plan
• R&D and Innovation plan
• Human Resources plan
• Leadership plan
All these plans support the strategic objectives of the current year and are brought together into a fully costed budget. From this budget, Sales, Gross Profit and Expenditure targets can be set and a profit forecast derived month by month.
Key Performance Indicators for every part of the business - daily, weekly, monthly, quarterly and annual, are produced by great businesses, from these plans.
May You Business Be - As You Plan It!
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Dr Greg Chapman is the Director of Empower Business Solutions and is Australia's Leading Advisor on Emerging Businesses and provides Coaching and Consulting advice to Australian Small Business Owners in Marketing & Business Strategies Planning & Systems. He is also the author of The Five Pillars of Guaranteed Business Success and Price: How You Can Charge More Without Losing Sales.
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