Answer to Question #171566 in Management for Ivan anamoah Nkrumah

Question

What types of planning do you do in your personal life? Describe these plans in terms of being (a) strategic or operational (b) short-term or long-term (c) specific or operational

Answer 1

Every day, I engage in a series of tasks, some of which are critical and others which are not. However, in order to complete each activity, I must prepare ahead of time. I rate tasks in order of significance and then take steps to make them effective. In my daily life, I can create the following types of plans based on their value and importance.

Strategic or operational plan: A strategic or operational plan is a collection plan that explains how I can accomplish the ultimate objective of a mission by following a series of clearly specified steps. If I have a significant challenge on my hands, I must build a step-by-step action plan that is geared toward the achievement of the ultimate goal.

Short term or long term. A long-term strategy is vital to an individual's long-term success. For several people, a long-term strategy lasts four to five years into the future. Others can only look two or three years ahead in their long-term plans. After that, predicting the future with some degree of certainty becomes impossible. Short-term plans commit money for a period of one year or less. Since they are concerned with everyday tasks and standard personal operations, they are also known as operating plans. Different execution standards ensure the implementation of various short-term strategies. As a department manager, for example, I am confident in executing a year-long organizational plan for the department.

Operational or specific. Specific plans are described in detail and do not leave any space for interpretation. The plans must have clear goals and be devoid of any uncertainty. For example, I intend to complete my undergraduate degree by the end of my third year. Operational plans, on the other hand, are flexible plans that provide broad life guidelines. In a dynamic world, where individuals must be adaptable to unforeseen changes, the plans are preferable.