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It involves improving the efficiency of the business by using optimum recourses and meeting the market demand. It requires flexible and skillful planning.
Strategic planning is the process of determine organisation’s strategy, and making solutions on distributing recourses to follow this strategy or direction. It distributes the recourses as a whole.
The original financial link between OM and strategic planning is the creation of the budget. OM is used to define the proper use of recourses such as facilities and equipment, whereas the strategic plan outlines the exact recourses needed for accomplishing the goals.
In order to run an effective business, both operational management and strategic planning must be followed. The difference between OM and strategic planning is the difference between how the organisation does with something and how actually it needs to be done. An operational management focuses on short-term task that needs to be done whereas the strategic plan focuses on long-term objectives and the general vision of the company.
Explanation and implementation of the three …show more content…
Those objectives allow the organization to measure its operation’s performance and achieve strategic goals.
The cost refers to making a product for a price relevant to the market. The company has to ensure that the cost of the goods and services remains the lowest, which can be accomplished by lowering the material acquired by the company.
The quality refers to doing the things right. Good quality is very important for satisfying customers because if the product does not fit, or it does not meet customer’s expectation there is a risk of losing them.
The speed relates to the time, doing things fast. The organisations should maintain the speed of the product’s delivery.
The dependability mostly relates to time and quality. It is about keeping promises to customers and suppliers. Maintaining the quality improves the dependability.
The flexibility refers to matching customer’s needs despite of the changing technology and demand. Every organisation should be flexible, be able to introduce new products and services, and satisfy different
Strategic planning is the process of determine organisation’s strategy, and making solutions on distributing recourses to follow this strategy or direction. It distributes the recourses as a whole.
The original financial link between OM and strategic planning is the creation of the budget. OM is used to define the proper use of recourses such as facilities and equipment, whereas the strategic plan outlines the exact recourses needed for accomplishing the goals.
In order to run an effective business, both operational management and strategic planning must be followed. The difference between OM and strategic planning is the difference between how the organisation does with something and how actually it needs to be done. An operational management focuses on short-term task that needs to be done whereas the strategic plan focuses on long-term objectives and the general vision of the company.
Explanation and implementation of the three …show more content…
Those objectives allow the organization to measure its operation’s performance and achieve strategic goals.
The cost refers to making a product for a price relevant to the market. The company has to ensure that the cost of the goods and services remains the lowest, which can be accomplished by lowering the material acquired by the company.
The quality refers to doing the things right. Good quality is very important for satisfying customers because if the product does not fit, or it does not meet customer’s expectation there is a risk of losing them.
The speed relates to the time, doing things fast. The organisations should maintain the speed of the product’s delivery.
The dependability mostly relates to time and quality. It is about keeping promises to customers and suppliers. Maintaining the quality improves the dependability.
The flexibility refers to matching customer’s needs despite of the changing technology and demand. Every organisation should be flexible, be able to introduce new products and services, and satisfy different