Strategy
Most business strategies have an operations component. For example, if a train manufacturer develops a plan to expand revenue by 50% that plan will include a marketing, sales and operations component. The operations component of the plan would include procurement, manufacturing and logistics strategies that enable the firm to boost production to support revenue growth.
Processes & Practices
Operations is a term for the core processes and practices of a business that generate most of a firm's revenue. It is common for operations to represent most of a firms costs and to have a large impact on strategic goals. Operations teams plan continuous optimizations and improvements to processes and practices in order to meet objectives in areas such as efficiency, productivity, turnaround time, waste reduction, cost reduction, quality, customer satisfaction and sustainability.
Contingency
An operations team may develop a contingency plan as part of risk management. A contingency plan lists risks together with an estimate of their probability and the steps required to reduce each risk. A contingency plan may also include an estimate of risk impact and a risk response. The following is a brief example of a contingency plan for data center operations.
Go-to-market
Go-to-market is a plan to launch a product or service to customers. This typically has both a marketing and operations component. The operations component of the plan is concerned with delivery of the product or service to the customer. This may involve elements of information technology, manufacturing, logistics and customer service. For example, a restaurant chain that plans to launch a catering service from three of its locations might come up with the following high level operations plan.
| Overview: Operations Plan | ||
Type | ||
Definition | Plans to establish, expand or improve the day-to-day processes and practices of a business. | |
Related Concepts | ||
