Operational managers are the backbone of a company, overseeing day-to-day operating activities and ensuring that personnel perform required tasks adeptly. Managers often face challenges in various corporate areas, including information technology, finance and human resources.
Financial Management Controls
Operational managers must ensure that financial accounting and reporting mechanisms are adequate and functional. Dysfunctional mechanisms typically cause a company to report inaccurate financial statements, including balance sheets, statements of profit and loss, cash flow statements and statements of retained earnings.
A sound operational management policy helps manufacturing department heads and segment chiefs ensure that a company possesses adequate computer software and hardware to meet business requirements. Absent this policy, a firm may be unable to effectively operate and meet profitability goals.
Operational managers generally must ensure that corporate policies and operating guidelines adhere to top leadership's stipulations, human resources procedures and professional standards. These policies also must conform to industry practices and government regulations.
Safety management is a key challenge that operational managers must confront when performing duties. Managers typically implement safety guidelines to prevent occupational accidents and operating losses resulting from litigation and regulatory fines.