Operational and Strategic Management Tasks for Growing a Business

When a business grows, it needs to determine which services to invest more time in and which ones to give up. But it takes more than an idea. You need a clear roadmap that outlines how you can overcome the operational challenges that growth can bring.

Operational management tasks are specific steps needed to implement a strategy for business and strategic management is a process that involves more expansive ideas and concepts that typically come from upper management positions such as the CFO, or the founder of the business. These long-term plans and objectives are more complex than the operational strategies. However, they help departments to develop efficient working procedures to enable them to offer quality products for customers.

Assure consistency in the quality of your product by establishing production standards and monitoring them. These standards should be reviewed at a minimum of once a year. This includes assessing the performance of each employee in line with the company’s quality policies, as well as reviewing external and internal feedback from customers to assess overall product quality.

Reduce the indirect and direct expenses of the company to make more customers and free the resources to pursue other goals. This is achieved by implementing the principle of subsidiarity which is a way of letting employees at a local or individual level make decisions in a particular field instead of centralizing management.

Maintain the ability to respond to changes in demand by making adjustments to production levels during periods of high demand and reducing inefficiencies during lulls. This is done by looking read at the market conditions to determine where competitors stand in terms of pricing and types of products or services they provide.