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Showing posts from 2018

Strategic Plan vs. Operational Plan

Strategic Plan Vs. Operational Plan:
Do You Know the 5 Main Differences?
What's the difference between a Strategic Plan vs. an Operational Plan? Both are plans but are they the same? If not, what’s the difference? Do you need both? Why do we need both? 
After mentoring Start-Ups from pre-revenue to achieving at least S$1M in revenues since 2012 and supporting growing Small-Medium Enterprises within the S$4M to S$10M range revenues, whose leadership teams are stuck in their day to day operational matters and fire-fighting, I hear these questions frequently.  My response: A strategic plan outlines your Vision, Mission, Core Values to build the Culture with high-level goals for the next 3 to 5 years. It also takes into account how you’ll measure those goals, and the major projects you’ll take on to meet them. An operational plan (also known as a work plan) is an outline of what each of your business departments shall focus on for the next financial year. In essence, your Strategic Plan …