BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Strategic plans are based on longest-term planning horizon, operational plans shortest planning horizon (even on a day-to-day basis), and tactical plans, in between. In terms of relationships, operational plans lead to the achievement of tactical plans, which in turn lead to the attainment of strategic plans.

Detailed explanation-2: -Operational plans support the strategic plan by laying out an action plan for a particular goal or project. They can also map out how individual business units or departments will contribute to organizational goals. Typically, operational plans have a short-term time horizon, typically a fiscal year.

Detailed explanation-3: -In management, there are varying levels of control: strategic (highest level), operational (mid-level), and tactical (low level). Imagine the president of a company decides to build a new company headquarters. He enlists the help of the company’s officers to decide on the location, style of architecture, size, etc.

Detailed explanation-4: -A tactical plan may include detailed schedules or instructions on how to complete tasks. Operational Plans describe what will happen during a given period of time. These plans are often referred to as operational plans because they define the day-to-day operations of an organization.