Operational and Strategic Management Tasks for Growing a Business

As a business expands, it has to decide which services to double-down on and which to eliminate. To accomplish this, you need more than just a great idea. You require a clearly defined plan that will help you overcome the operational challenges that growth creates.

Operational management tasks are specific steps required to execute a business strategy however, strategic management requires more expansive ideas and concepts which are usually derived from higher management positions such as the CFO, or the founder of the business. These long-term plans and plans are more complex than operational strategies, but they help to guide departments in establishing efficient procedures for work that allow the company to provide quality products to its customers.

Assure a consistent standard of product quality by setting and monitoring production standards that are reviewed at least every year. This includes assessing the performance of each employee in line with the company’s quality standards and also taking into account external and internal feedback from customers to assess the overall quality of the product.

Reduce the company’s direct and indirect business costs to lower the price for the market, attracting more sales and freeing resources to pursue other goals. This is achieved by implementing the subsidiarity principle, which allows employees to make their own decisions at the local level or individually in a specific area, instead of central management.

Maintain the ability to respond to fluctuations in demand. Adjust production levels during times of high demand and decrease inefficiencies during slow periods. This is accomplished by analyzing the market situation to determine how the competition is performing in terms of pricing as well as the kinds of services or products they provide.

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