Annual Operational Plan
Every year, new objectives and goals arise in your business. They arise because there may be a new project, new industry trends, or new opportunities to bring your business to a higher level. Because of that, the flow of your operations should change yearly. Having new objectives and goals means changing the ways you do things. If you don’t change them, it would be nearly impossible to achieve those new objectives and goals. That’s why you must plan your operations annually. The next business year is fast approaching. So, start planning your operations asap using our Annual Operational Plan Template Examples.
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What Is an Annual Operational Plan?
An annual operational plan outlines the yearly activities and targets that a company or organization must follow. It emphasizes what changes were made in the operations or standard operating procedures (SOP). That said, it explains a new strategy to achieve a year’s desired business outcomes. It might also entail changes in training employees and marketing the company’s brand.
How to Prepare an Annual Operational Plan
According to Small Business Trends, business planning doubles a business’s chances of achieving success. Well, it’s not really surprising. We all know how planning, in general, guides us towards what we want to obtain. Operational planning is also a form of business planning. So, if you execute it, the upcoming year’s operations will bring success to your business. With that in mind, make sure to take note of these steps in preparing an annual operational plan.
Step 1: Set the Objectives
It wouldn’t be a plan without the objectives. So, don’t forget to set your business objectives on the operational plan. They’re the purpose of your operations and the reason why you need to plan it in the first place.
Step 2: Create a Timeline
A timeline would help in achieving the objectives on time. In creating it, emphasize what specific processes the staff must complete in every period throughout the year. You can divide the year on a weekly, bi-weekly, monthly, or quarterly basis. In each period, you can also indicate how much the operating budget will be.
Step 3: Outline the Procedures
Next, you have to outline the operation’s new procedures. Arguably, this is the most important section of the operational plan. They show the detailed step-by-step processes in obtaining the objective you’ve set. So, if they aren’t in the plan, your staff might think that the previous SOPs are still applicable.
Step 4: Define the Employees’ Roles
Let each staff member in every department know what their roles are in the upcoming year’s operations. More or less, their roles remain the same but with some changes. Write brief descriptions about what each of them will do throughout the year.
FAQs
What are the different types of operational plans?
There are two different types of operational plans. These are:
- Single-use plans – will only be used once for one-and-done events or projects.
- Standing plans – will be used permanently and routinely.
What are the essential elements of planning?
The essential elements of planning include:
- Objectives
- Actions
- Resources
- Implementations
How does operational planning differ from strategic planning?
Operational planning focuses on implementing the right processes or procedures. Meanwhile, strategic planning focuses on identifying the best possible approaches to achieve certain goals.
Operational planning is an integral aspect of business management. Every year, you have to invest time and effort in executing it. Your company’s success depends on it. There’ll be challenges as you formulate your operational plan. It entails a lot of analysis and research, not just within your business, but also in the industry. Thankfully, there are available tools to make it easier for you. Among those tools are our Annual Operational Plan Templates and Examples. So download them now!
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