Explain the purpose of a Strategic and Operational Plan

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Explain the purpose of a Strategic Plan and an Operational Plan, and the role of an Operational
Plan in achieving the organisation’s objectives.
Outline the information that is usually included in an Operational Plan.
Explain a typical process for developing an Operational Plan.
Explain the purpose of a budget.
Explain a typical budgeting process.
Explain the purpose of key performance indicators.
Discuss four approaches to developing key performance indicators.
Discuss the concept of a balanced scorecard as an alternative approach to measuring business
performance through key performance indicators.
Explain the concept of benchmarking as a way of assessing business performance.
Provide a definition of a PCBU and outline their key responsibilities.
Outline the aim and scope of the Fair Work Act 2009.

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