BSBOPS502 Chapter 1

Chapter 1 - 'True' or 'False' Quiz Tick 'True' if the statement is correct, and 'False' if not. True False The most Important difference between a strategic and an operational objective is its time frame; operational objectives are short-term goals, while strategic objectives are longer-term goals. Strategic objectives are specific and short term enough to be considered usable in everyday time and asset allocation. Fixed costs are the costs of actually acquiring the new equipment that you will need to make the plan actually happen. Your performance indicators need to be an accurate reflection of your organisational mission and vision. Operational objectives are still usually too broad to make sense as a specific set of daily tasks or weekly projects. Physical resources are any resource that you can buy, feel and touch. When it comes to gaining approval, the way you present your materials is just as important as the content itself. Consultation should involve all relevant personnel, colleagues and specialist resource managers, employees at the same level or more senior managers, other managers, work health and safety committee/s and other people with specialist responsibilities, supervisors and or union or employee representatives. Contingencies rarely occur in business; it is the execution you do to get around the situation which is most important. Business planning attempts to bring a new idea into fruition within an organisation