OPMAN - Gov Agency part 1

SEC

established through Commonwealth Act No. 83 in 1936, serves as the government agency responsible for regulating the corporate sector, capital markets, and securities industry. It ensures a fair and transparent financial system by enforcing corporate laws and protecting investor interests.

DTI

is a government agency tasked with promoting economic development, fostering trade and industry growth, and protecting consumer rights. It plays a crucial role in supporting businesses by creating policies and programs that enhance competitiveness, encourage innovation, and ensure fair trade practices

BIR

is a government agency that is affiliated to the Department of Finance who is responsible for ensuring that there is a fair form of collecting taxes from people.

Operational planning

is the process of turning your strategic plan into a detailed map that outlines exactly what action your team will take on a weekly, or sometimes even daily, basis.

During the operational planning process, outline each team or person’s responsibilities for the next quarter, six months, or fiscal year.

STRATEGIC PLANNING

A ___ is a business-level plan of your long-term strategy for the next three to five years.

Scope, timeline, Stakeholders

THERE ARE THREE LEVELS TO
WHO SHOULD CREATE AN OPERATIONAL PLAN:

Scope

Your operational plan will capture the who, what, and when of each activity. It should be laser-focused on a team or initiative.

Timeline

Depending on how fast

your organization moves, your operational plan should span a quarter, six months,

or a fiscal year.

Stakeholders

Make sure the people involved in operational planning are close to the work, so they can accurately project and predict what work should be included in the plan.

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only ___% of knowledge workers have a very clear understanding of how their individual work relates to company goals.

Financial Management

is the practice of

making a business plan and then ensuring all

departments stay on track

Planning

The financial manager projects how much money the

company will need in order to maintain positive cash

flow, allocate funds to grow or add new products or

services and cope with unexpected events, and shares

that information with business colleagues.

Budgeting

The financial manager allocates the company’s

available funds to meet costs, such as mortgages or

rents, salaries, raw materials, employee T&E and other

obligations.

Static Budgeting

Remains the same even if there

are significant changes from the

assumptions made during

planning.

Flexible

Adjusts based on changes in the

assumptions used in the planning

process.

Managing and

assessing risk

Line-of-business executives look to their financial

managers to assess and provide compensating

controls for a variety of risks, including: market risk, credit risk, operational planning

Procedures

The financial manager sets ____ regarding how

the finance team will process and distribute financial

data, like invoices, payments and reports, with security

and accuracy.

Market Risk

Affects the business’ investments as

well as, for public companies,

reporting and stock performance.

Strategizing

Identifying what needs to happen

financially for the company to

achieve its short- and long-term

goals. Leaders need insights into

current performance for scenario

planning, for example.

Decision Making

Helping business leaders

decide the best way to execute

on plans by providing up-to-

date financial reports and data

on relevant KPIs.

Controlling

Ensuring each department is

contributing to the vision and

operating within budget and in

alignment with strategy.

Capital Budgeting, Capital Structure, Working Capital Management

The Three Types of Financial Management

Capital Budgeting

Relates to identifying what

needs to happen financially for

the company to achieve its

short- and long-term goals.

Where should capital funds be

expended to support growth?

Capital Structure

Determine how to pay for operations

and/or growth. If interest rates are low,

taking on debt might be the best

answer.

Working Capital Management

As discussed above, is making

sure there’s enough cash onhand for day-to-day

operations, like paying workers

and purchasing raw materials

for production

Product Design

is one of the crucial

steps. Customers have many

alternatives to choose from. one must have something

special among the many competitive

products to make the customer try it. in

operations management is the

process that creates an item that

fulfils the above conditions.

User Research

One can do user research in different ways. It depends on the product and the

customer segment as to which method is best. Sometimes all the methods will be used

to understand what the customer wants.

User Interviews

This is a method users are interviewed either in

person or by telephone to understand their needs and

what they expect from a new product.

Online Surveys

Customers are observed when they use the

products in a natural environment. It is an

excellent way to empathise with the users and

put yourself in their shoes.

Contextual Inquiry

this method, the company publishes questionnaires

online and requests users to fill them out. This method

can provide a large quantity of data in a very short time.

Market Research

Studying the competitors and how they satisfy the

customers is an excellent way to know what the

market needs.

Narrow Down and Define

It is the next phase of product design in operations management,

where a huge amount of data is analyzed to determine the exact

customer needs

Ideate

Once the team has an idea about what the customers need, it is time

for them to sit down and ideate. The members have a brainstorming

session where they discuss the different features that can provide

answers to the users’ problems.

Create Prototype and Deliver

The next step is to put the ideas into practice. The company starts by

creating a prototype that only has the necessary functions. The

prototype helps the company test the product and ensure it delivers

what is promised.

LGU

It refers to the government structure at the local level, which includes provinces, cities, municipalities, and barangays. LGUs are responsible for governance, public services, and development within their respective areas.

DOLE

a Philippine government agency responsible for formulating policies, implementing programs, and enforcing labor and employment laws to protect workers' rights and promote fair labor practices. 

DOH

In the context of business, the Philippine Department of Health (DOH) acts as a national health policy-maker and regulatory institution ensuring access to basic public health services, regulating health goods and services, and providing technical assistance to health providers.

SSS

is a government-mandated social insurance program. The program is funded through contributions from employers, employees, and members.

Philhealth

Its main purpose is to provide affordable and accessible health insurance coverage to all Filipinos.

Paging

The fund aimed to create a mandatory savings scheme through employee and employee contributions, which would also facilitate affordable home loans at lower interest rates compared to private banks.

PRC

plays a crucial role in Philippine businesses by regulating and supervising the practice of various professions, ensuring competent professionals, and accrediting professional organizations, which ultimately contributes to a skilled workforce for the economy.