You are to review the operational plans for the current year for your employer or workgroup.

You are to review the operational plans for the current year for your employer or workgroup.1. Comment on these, providing:o A brief description of the business / workgroup o A summary of the main focus of the operational plan(s) o Identify and comment on the appropriateness of 2 to 3 operational objectives with performance indicators (Note: If no performance indicators have been established, create at least one set relevant to one of the goals) 2. Describe the stakeholders involved:o Who they are and how they were consulted when developing the plans and what method(s) were used when consulting with them o How they are (or should be) involved in monitoring performance and reviewing the plans 3. How will (or should) the plan(s) be monitored? Describe:o How performance variances are identified o The process for taking remedial action in the event that unsatisfactory performance is identified o The supervision and support provided by operational / line manager to assist the team achievement of the operational goals 4. Make some observation on one of the profit / productivity budgets used by the business or workgroup. Is this budget sufficient to enable effective monitoring (explain why) or detail improvements that you could suggest. 5. Analyse one profit / productivity budget performance / variance report. Discuss:o Any variances that have been identified o Actul action taken with regard to identfiying possible causes of the variances o Actual action taken to correct the performance problem 6. Briefly describe how the operational budgeting process is linked to the business systems, procedures and record keeping Note: Some of the operational planning actvities (covered in this unit) may not be implemented. If so, outline what should have been done. Write this assignment as if you were presenting a report to management of the business. Be detailed and specific in your answers.

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