Question : Why it is important for managers to plan in advance?
It is important for managers to plan in advance because strategic planning has the ability to not only provide a sense of direction to rest of business but also outlines its measurable goals. It acts as a guiding tool in the day to day decisions of business followed by evaluating progressions and changes while the business moves forward.
# Planning allows managers to understand what business actually is and what is intends to be over time.
# The outcomes of strategic planning are expressed in measurable goals which ultimately set some specific yet concrete objectives for business.
# It also allows business to evaluate its goals as well as progress in light of company’s ability to achieve these goals and developments.
To make the most out of this strategic planning process, management should consider its strategic objectives followed by backing up these objectives with certain sensible benchmarks for evaluating results.
Question : Outline the ways an operational plan can be implemented?
The operational plan is an important management tool that steers the day to day activities of organizational manpower. To ensure the successful implementation of operational plan, there is a need to thoroughly communicate the operational plan, its purpose as well as its significance to the staff. Following are the ways to implement an operational plan:
# Regular team meetings of senior management with the organizational staff will allow the management to make their staff understand the key aspects of the said operational plan followed by dealing up with their queries as well as doubt regarding it.
# Further to implement the operational plan successfully, the management should breakdown the overall plan into various subsets and should communicate and allocate responsibility of its accomplishment to a work team or department. This enables them to focus on their particular part in implementing the overall plan.
# The provision of training to staff so that they can better understand their tasks/responsibilities as well as how they can effectively contribute towards the achievement of overall operational plan.
Question: What scenarios may arise that highlights the need for contingency plan?
A contingency could be defined as anything that is beyond the control of normal business operations and could adversely affect the organizational ability to operate smoothly. Thus, any plan or blueprint for dealing with such unusual events is known as contingency plan and could be made to protect organizational resources, reduce consumer inconveniences, recognizing key staff or to assign responsibilities in context of loss recovery etc. During the process of contingency planning, the leaders or managers are required to speculate about the events that could halt its business operations. Such events or scenarios are both organization wide and department specific.
Question : What should new employees be informed of during a new employee induction?
Induction training is absolutely vital for new employees. It is the initial step towards gaining employee engagement and ensures that new employees are quickly and happily settled to a productive role or a new working environment. Moreover a good induction program creates a positive impression about the company followed by reinforcing the decision regarding acceptance of a particular job. A good induction program should cover information regarding
# An overview of Company, its history, goals, values and philosophy
# Information regarding processes and other major operations involved in the job, job significance with necessary information regarding job training and job hazards.
# New employees should also need to understand company’s policies, practices, objectives and regulations
# Structure of organization and functions of various departments, employee’s department or job role and how he fits into the organization.
# And of course rules and regulations regarding working shifts, routine for holidays, health and safety rules and also about service, amenities and welfare facilities.
Question : What resources are needed to be able to successfully induct new employees into the organization?
The resources needed to be able to successfully induct new employees in an organization can vary depending upon the size, nature or industry of business followed by the role of volunteers. The collection of these useful resources might include:
# Human resource in the form of participants and supervisors or outside trainers/managers etc.
# Handout or workbook (hardcopy or electronic) containing relevant written information that can be gathered in advance
# Projector or microphone etc. depending upon the medium of communication.
Question : What could be the possible outcomes if company records were inaccurate?
Every business either small or large needs to maintain detailed records of business to ensure normal operations. Such quality record management allows business to keep itself aligned with growing client base as well as to adapt to other changes.
Bad or inaccurate record management as a result of carelessness, lack of knowledge, misinterpretation of data/information or out of dishonest employees can result into a number of major problems. It can leads to bad decision making if such inaccurate reporting of data is difficult to ferret out. For example if the company records were showing miscalculation of profit it can result into high tax liability if profits are reported too high or the company being undervalued if the profits are too low. The goodwill of the company can also be tarnished if any severe problem arises. Moreover continuous failure in maintaining accurate records can either result in legal consequences or can cause business to shut their doors permanently. Lastly, inaccurate maintaining of records will also hurt company’s credibility with its stakeholders such as its investors or the board of directors etc. Thus, it is significant to keep accurate records in each and every area of business.