Nov 2017 Q1 c.
Good links between operational and strategic planning help in the execution of corporate strategies. However, managers gain from knowing the difference between strategic and operational objectives because this distinction plays a major role in the conversion of an overarching vision into specific tasks.
Required:
Distinguish between a strategic plan and an operational plan. (5 marks)
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A strategic plan is a long term plan that is developed by the organization to enable it achieve its objectives and covers the entire firm. An operational plan on the other hand is a short term plan developed by a middle manager which concentrates on a specific functional area.
Whereas a strategic plan covers a period of about five years and is stated in general terms, an operational plan is stated in specific terms and covers a short period.