ASEC/SLDI FINANCIAL MANAGEMENT COURSE 1 TOPIC: STRATEGIC PLANNING, OPERATIONAL PLANNING AND BUSINESS PLANNING MODULE 5 BY: CORAT AFRICA.

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Presentation transcript:

ASEC/SLDI FINANCIAL MANAGEMENT COURSE 1 TOPIC: STRATEGIC PLANNING, OPERATIONAL PLANNING AND BUSINESS PLANNING MODULE 5 BY: CORAT AFRICA

STRATEGIC, OPERATIONAL & BUSINESS PLANNING 2 STRATEGIC, OPERATIONAL AND BUSINESS PLANNING  Strategic planning  This is a high level process which deals with establishing the vision and mission of the organization, its values, key objectives and focus areas, and key performance indicators  It is more futuristic and broader in scope

STRATEGIC, OPERATIONAL & BUSINESS PLANNING 3 Strategic planning cont--  It is part of the corporate governance process as the plan is signed off at the Board level  The strategic plan process is better accomplished with the help of a facilitator, particularly if it is being done for the first time  It is an organization’s summary of the development process and the presentation of core directions

STRATEGIC, OPERATIONAL & BUSINESS PLANNING 4  Operational planning  This is more routine to ensure daily operations are running  It focuses on the day-to-day operations with no more than a 12 month cycle  This is an annual work plan explaining how the goals of the strategic plan will be implemented and what budget and processes are required

STRATEGIC, OPERATIONAL & BUSINESS PLANNING 5 Operational planning cont—  Focuses on adjusting and developing controls, increasing efficiencies and reducing time and costs  The purpose of an operational plan is to effectively execute the goals identified in the strategic plan  An operational plan shows where to focus attention

STRATEGIC, OPERATIONAL & BUSINESS PLANNING 6  Operational plans answer key questions like who is doing what? What are the day to day activities? What are the labor requirements? What are the sources of raw materials?

STRATEGIC, OPERATIONAL & BUSINESS PLANNING 7  Business planning  Business planning is the process which carries the strategic plan to each level and functional area of the organization, ensuring alignment with the strategic plan  If the business plans of the functional areas are not aligned to the  A business plan which deals with operational issues will lack the objectives to address the strategic issues

STRATEGIC, OPERATIONAL & BUSINESS PLANNING 8  Business plans have greater descriptive detail than a strategic plan and may include the business cases for specific courses of action

STRATEGIC, OPERATIONAL & BUSINESS PLANNING 9 Business planning cont—  A business plan will include sections such as market analysis, competitor analysis, product plan, strengths, weaknesses, opportunities and threats analysis, risk management and other sections unique to the organization.