CPA Business Environment and Concepts (BEC)

Certified Public Accountant Business Environment and Concepts examination.

Corporate GovernanceEconomic Concepts and AnalysisFinancial Management
Information Technology and Data AnalyticsStrategic Planning and Operations ManagementRisk Management and Internal Controls
Business Ethics in PracticeEffective Communication in BusinessApplying Cost Accounting Techniques
Time Management for Exam SuccessActive Learning and PracticeMastering Multiple-Choice Questions
Corporate GovernanceEconomic Concepts an...Financial ManagementInformation Technolo...Strategic Planning a...Risk Management and ...Business Ethics in P...Effective Communicat...Applying Cost Accoun...Time Management for ...Active Learning and ...Mastering Multiple-C...
Advanced Topics

Strategic Planning and Operations Management

Setting the Course

Strategic planning is about defining where a business is headed and how to get there. Operations management ensures daily activities align with those goals.

Steps in Strategic Planning

  • Vision and Mission: Where do we want to go?
  • SWOT Analysis: Strengths, Weaknesses, Opportunities, Threats.
  • Setting Objectives: Clear, measurable goals.

Operations Management

  • Process Optimization: Making everything run smoother.
  • Resource Allocation: Using time, money, and people wisely.

In Action

A company might use strategic planning to enter a new market and operational planning to ensure production meets new demand.

Examples

  • A business uses SWOT analysis to identify expansion opportunities.

  • Managers streamline production to reduce waste.

In a Nutshell

Strategic and operational planning drive business growth and efficiency.

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Risk Management and Internal Controls