By: Golam Azam
What is an Operational Plan? A retail store is considered as a simulated business scenario for developing an operational plan. Assume the company operates its business activities through 25 stores around Australia. The company offers different types of products including office supplies, ink and toner needs, electrical equipment and office furniture. A variety of services is rendered along with products like photocopying, printing, equipment hire, packaging and posting services to attain organizational objectives. The assumption is taken as an operational plan example. It is just an operational plan sample, not to mention any company name.
It is the process of determining which portion of strategic goals will be put into action for a certain period of time. It is a tactical planning process to attain organizational objectives. It includes business goals, objectives, strategy, key actions, milestone, budget, timeline etc.
Business goal
The goal of the retail store is to increase profitability, growth and customer satisfaction. Increasing profitability is the first goal of a retail store. To increase profitability, the company need to run a profitable operation. The profitable operation includes increasing revenues and reducing expenses. When the company increases its profitability and reinvests its profits, the growth is ensured by providing additional products and services. To increase profitability, the company must satisfy its customer for recurring purchase. The business goal is set as a part of the operational plan example.
Long-term goals:
-Increasing profitability
-Maintaining growth
-Maintaining customer satisfaction
-Increasing efficiency
-Maintaining retention
-Short-term goals:
-Increasing the profitability of existing operations
-Increasing the quality of products and services
-Increasing customer satisfaction
-Expanding business
-Increasing employee skills
-Providing better customer service
Objectives
The company has some objectives to maximize profitability, growth and customer satisfaction which are:
-10% increase in sales to increase profitability
-Expanding business area for capturing new customers
-Enhancing the quality of product and services
-Increasing employee satisfaction
-Maximizing customer satisfaction
-Increasing customer retention
-Increasing employee efficiency
Strategies for increasing sales:
-Product diversification strategy will be followed to attain a 10% increase in sales which is considered as a sample operational plan. Some new products and services will capture the new market for increasing sales.
-Online marketing and selling strategy will be helpful to conduct marketing and increased selling activities. The company will create a website for selling product and services. It will increase customer order. Some online marketing tools like facebook and google will be effective for increasing sales.
-Product differentiation strategy will be helpful to increase customer who wants unique products and services.
Strategies for expanding business:
-Graphic design services will be introduced to capture new customers.
-Additional equipment, furniture, and human resource are needed for providing new service.
Strategies for increasing the quality of products and services:
-The reorganization of equipment is necessary to facilitate quality production.
-Employee efficiency is inevitable for quality production.
-The quality of equipment is necessary for maximizing product and service quality.
-The new technology is helpful for increasing quality.
Strategies for employee satisfaction
-A suitable working environment is necessary for employee satisfaction.
-Some motivational activities are helpful to make actionable objectives.
Social connection can be helpful to increase employee satisfaction.
Strategies for customer satisfaction
-Increasing the quality of products and services
-Reducing the price of products and services
-Effective delivery system
-Receiving customer order from difference sources
Strategies for customer retention:
-Providing greater customer value
-Maintaining a relationship with customers
-Differentiating products according to customer needs
-Strategies for increasing employee efficiency:
-Appropriate training facilities are necessary for increasing employee efficiency.
-Monitoring employee performance is helpful to attain the objective.
-Proper placement of the employee is necessary for maximizing efficiency
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