Answer: There are two types of models and methods for operational plans that are single-use plan and ongoing plans. The Single-use plan is supposed to be used in case of single time occurring activities like events or advertisement campaigns. Such a plan has an expiry date and is not repeated for the long term. Whereas the Ongoing plan is intended to be used for the long and repeated term, the plan is designed to achieve long term goal and are flexible to be changed in future whenever required.
Answer: The operational plan plays a significant role in achieving the organizational goal because it is an integrated part of the strategic plan of the organization that is set as per the future objective of the business and the operational plan helps the strategic plan to get aligned with the organizational objective in short term period.
Answer: Budgeting process is done to control the expenses in the business for a specific time in an organization. It is a systematic activity in an organization that includes the development, implementation and evaluation of business plan regarding the allocation of resources including fixed and non-fixed resources like money, land and labour.
Answer: In the contemporary companies the OKR is being used as the alternative to KPI and considered as superior to KPI. The OKR stands for Objective Key Results that is a novel approach to measure the performance of a firm and using this metric a company can keep the company's and team's objective altogether at the same time. Instead of indicating the performance of each step and initiatives, it gives the indication overall achievement toward the ultimate goal of the specific area.
Answer: There are several legislative and regulatory compliance at a different level in any industry. In the context of the operational plan of the organization, the company should ensure that the plan is ensuring the occupational health and safety, equal employment opportunity, privacy and environment. Moreover, it should also ensure other factors as special permit wherever required, safety standards, standard operating procedure, emergency procedure and management procedure.
Answer: Below are some example of the policies, practices and procedures that directly relate to the operational plan of fitness centres,
Except for water bottle, no outside eatables or drink would be allowed inside the premise.
No member would be allowed to come if suffering from flu, cold or fever.
Sneakers, athletic trousers and T-shirts would be considered as the appropriate attire, no jeans and other such casual attire would be entertained
No beginner should perform any risky exercise in the absence of the trainer.
Before doing any exercise everyone should perform the warmup
All members are expected to communicate politely with other members.
Before entering, everyone is expected to show their Id card at the gate.
After entering, all the members should first get their attendance marked.
After getting attendance marked, each member should report to their respective trainer.
Resources required for the business plan of the Bounce Fitness are
1) Human Resource including a manager for each centre and 3 fitness staff. It will be acquired through an external recruiting firm.
2) Tools and Equipment including Mobile Mercury Sphygmomanometers, exercise tools, meal preparation tools. It will be purchased from the gym shop.
3) Finance from the capital and external funding from the financial institution.
To develop the plan, I would like to consult with the fitness expert, business consultant and the CEO. In planning the activities for the old member, I will seek help from the fitness expert regarding the kind of exercise and their duration and special precautions and potential hazard elimination. In the planning regarding the expenses and future expansion of the business, I will consult with the external business consultants. In the case of using more fund or investing in new pieces of equipment, I will consult with the CEO.
The key performance indicators that can help in measuring the progress toward the attainment of the goal is the fitness level of the participants and their attendance. Another KPI would be an increment in the annual revenue.
Wear and tear or malfunctioning of equipment- In such a case, the equipment should be kept in extra quantity to immediately replace with the defective or obsolete ones.
Absence of all members due to lockdown- In such a case, the members should be trained remotely through the internet and video conference.
Fund for an emergency- The business should have a reserved provision fund.
The operational plan has been developed under the supervision of the executive. The KPI is developed by aligning it with the organizational goal. In case of any exigency, the plan "B" is also prepared and communicated with the stakeholders. The performance management system has been implemented across the departments. All the financial plan has been formulated within the stipulated budget of the company.
To get the plan approved, I will need to propose the plan to the CEO and Board of Directors because they have the decision making power in the organization. To inform the team, I will ask them to join me in a meeting where I will explain to them the plan and the activity to be performed through a demo session. Then I will give a written copy of the same so that they can refer to it if required. Also, I will be available to guide them whenever they will need me.
Strategies for the recruiting and inducting staff to Bounce fitness project are
Employees should be hired through an external HR recruitment firm as they have more experience doing so and they are also expert in that.
Once the staff is selected by the recruiting firm, another round of interview should be held at the office by the manager.
If the candidate is found suitable then his mental aptitude and manual dexterity should be tested.
If the student passes meeting all these the criteria, then he should be finally hired and he should be called for induction program.
In the induction program, the student should be introduced about the company, his job role and duty, policies of the company including leave, timing, payroll etc. then he should be explained about emergency exit plan at the building and whom should he report.
Once all the required training is given to the candidate, a regular follow up and performance evaluation system should be implemented for him.
I will write a requisition to the centre manager and the centre manager will place the order as per the price of the product under the approved purchasing method.
To ensure that the intellectual property rights are not breached it is required to make appropriate policy to take stringent action policy against the violator.
To monitor and review the plan made, I will check them weekly and monthly basis. Then, I will compare the result obtained with the expected result and will revise if required.
The profitability expectation of the firm should be after 1 year because currently, the focus should be to increase the customer base and later when they become a happy and satisfied customer then an ideal amount could be charged from them to finally generate revenue in the business.
Considering the system and processes, the underperformance in each of the area can be managed by conducting daily, weekly and monthly review on the performance related to each field. All the performance here can be improved by the training to the staff and regular follow-up post to the training.
To manage the staff underperforming, it is required to listen to their challenges and prepare a tailored program for their training to improve their performance. All the staff should be called for one by one personal interview on monthly to discuss their deteriorating performance and after training them, the regular review will be required every month.
If I will find, areas require a variation to plan then I will communicate this to the respective stakeholders including executive, staffs, Senior manager or CEO. I will communicate to them through the email, telephone or even call for a meeting. To record the performance of the staff, it will be required to measure the KPI of the staff daily.
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