Question

2. Briefly explain what operating plans are?

Answer 1

Operations plan can be derived for particular company through its operations like revenue, sales , cost etc are the important aspects in the company. Each company has its own measure to develop its operating plan.

example:

Apple inc: Apple is an world best iOS mobile ,laptop desktop Tv provider in the world. But this company has the vision in terms of for this year 2020 Apple all sales are 6 million usd the company vision for 2021 aims to be 8 million usd, mission of particular company is to do more R&d activities to develop and introduce the good product to the customers , the company has to found what are the strategies that can be available in the current situation and it has to do industry analysis like primary research to attain customer pulse and the competitive market.They have to prepare the good strategic plan to attract the customers and increase the revenue by 2021.

The above is the one of the example for the operating plan for particular industry , firm and at any place the main important thing the firm has the good vision and innovative ideas to maintain good operations in it.