Elements of an Operational Plan

The video tutorial discusses creating an operational plan, focusing on identifying key elements like the value proposition, relationships, and resources. It emphasizes gathering information from various sources to support projections and planning. The tutorial also covers identifying barriers, setting timelines, and ensuring all aspects of the value chain are accounted for. Finally, it highlights the importance of defining roles and responsibilities within the plan.

What is the primary focus of the conceptual portion of an operational plan?

• Determining the value proposition and key relationships

• Creating a marketing strategy

• Identifying the company's mission statement

• Setting financial goals

Why is it important to acquire information from existing sources when making operational projections?

• To increase the company's social media presence

• To reduce the number of employees needed

• To support projections and provide additional insights

• To ensure the company has a strong brand image

What is a potential consequence of leaving out an aspect of the operation?

• Unaccounted costs that could break down the value chain

• Improved employee morale

• Higher profit margins

• Increased customer satisfaction

What should be included in the planning portion of an operational plan?

• A summary of past achievements

• A list of competitors

• A timeline for achieving goals along the value chain

• A detailed marketing plan

Why is it important to have long-term plans in an operational plan?

• To ensure immediate profits

• To maintain investor and team confidence

• To eliminate the need for research

• To reduce the need for marketing