Reference no: EM133469162

Homework: Business Finance- Operations Management Operations, Technology, Management & Social Responsibility

Overview

In this homework, you will focus on these sections of your business plan:

1) Operations.
2) Technology.
3) Management and Organization.
4) Social Responsibility.
5) Financials.

You will revise the Operations, Social Responsibility, and Financials sections based on the feedback you received in the discussion threads and any changes you want to make to your business plan.

The Technology and Management and Organization sections are new. You have not worked on these sections in your discussion threads.

The homework consists of two parts:

I. The business plan (A3-Operations, Technology, Management, and Ethics Plan Template Download A3-Operations, Technology, Management, and Ethics Plan Template[doc]).

II. Business plan financials (using the Business Plan Financials Excel Template).

To successfully complete this homework, you must attach both documents to the submission area as separate files and then click Submit.

Reminders and Notes

1) Your chosen company will operate in a 100-mile radius from your home address. Your goal is to reach $1 million in sales by the end of the second year.

2) Be sure to follow the guidelines, whether you use the snack food company scenario or the company of your choice:

a) Snack Food Company Guidelines [PDF] Download Snack Food Company Guidelines [PDF].

b) Company of Your Choice Guidelines [PDF] Download Company of Your Choice Guidelines [PDF].

3) You are not starting this homework from scratch. You have already worked on these sections of your business plan in the weekly discussions:

a) Operations (Week 5 discussion).

b) Social Responsibility (Week 6 discussion).

c) Financials (Week 7 discussion).

Part A: Business Plan

Write a 4 to 8 pages paper, in MS Word, in which you provide the specified information in each section.

Operations Section (1-2 pages)

Notes

1) Chapter 11, "Operations," pages 195-218, of your textbook provides information about developing an operations plan. The chapter also provides a sample operations plan. You've already read this chapter in Week 5. Refer to it on an as needed basis as you work on this section of your business plan.

2) Assign a dollar amount to each operational cost you find; you will need these figures for your financials (Business Plan Financials Excel Template).

3) If you are working with the snack food company scenario, be sure to use the information and costs provided in the Snack Food Company Guidelines.

4) Revise your post and the feedback you received on it in the Week 5 discussion thread to create your operations plan.

Instructions

1) Create an operations plan for your selected company expanding on each of these topics:

a) Facilities.

i) Consider questions such as these regarding facilities:

I. Will you rent or buy your facilities, or will you outsource production to an existing company?

II. If you are renting or buying your facilities, what utilities will be required to run the operation?

III. What will be the costs associated with any necessary utilities?

b) Production Process or Description of How Your Business Will Operate If Retail or Service Company.

i) Include any equipment you plan to use, if applicable.

I. Research needed equipment, such as machines, refrigerators, burners, ovens, and so on.

II. Will you rent or buy needed equipment?

III. How will you maintain and clean the equipment?

IV. How will you ensure quality control?

V. What capacity do you intend to reach?

VI. If you have a retail or service business, consider any equipment you might need in your process.

ii) Explain your approach to inventory, as applicable.

I. Where do your supplies come from?

II. What is your turnaround time to produce your product once you have received an order?

c) Research and Development.

i) How will you stay abreast of new developments in the industry?

ii) What new products or services are in development?

d) Personnel Needs in Operations.

i) How many operations employees do you plan to have?

ii) What will their roles be?

Technology Section

1) Chapter 12, "Technology Plan," pages 225-234, of your textbook provides information about developing a technology plan. The chapter also provides a sample technology plan. You've already read this chapter in Week 5. Refer to it on an as needed basis as you work on this section of your business plan.

2) Assign a dollar amount to each technology cost you find; you will need these figures for your financials (Business Plan Financials Excel Template).

3) If you are working with the snack food company scenario, be sure to use the information and costs provided in the Snack Food Company Guidelines.

4) Consider the type of technology your selected company will use to conduct activities, such as managing personnel; taking, fulfilling, and tracking orders; managing inventory; communicating with customers and providing customer service; and producing your product or providing your service.

Instructions

1) Create a technology plan for your selected company expanding on each of these topics:

a) Software Needs.

i) Examples of software you might need include graphics, customer relationship management, accounting, inventory, and office suite.

b) Hardware Needs.

i) Examples of hardware you might need include computers, monitors, servers, routers, and tablets.

c) Telecommunication Needs.

i) Examples of telecommunication equipment you might need include phones, Internet, fax, and mobile phones.

d) Personnel Needs in Technology.

i) Will your technology personnel be in-house or outsourced?

Management and Organization Section (1-2 pages)

Notes

1) Chapter 13, "Management & Organization," pages 235-258, of your textbook provides information about developing a management and organization plan. The chapter also provides a sample management and organization plan. This chapter was part of the assigned reading for this week. Refer to this chapter on an as needed basis as you work on this section of your business plan.

2) Be sure to include the salary costs associated with the management personnel; you will need these figures for your financials (Business Plan Financials Excel Template).

Instructions

1) Create a management and organization plan for your selected company expanding on each of these topics:

a) Key Management Employees.

i) List key management team members along with a several sentence description of each person's relevant business background and responsibilities.

b) Advisors.

i) List any people you will use as advisors for your business; include a several sentence description of these individuals' areas of expertise and their expected contribution to the business.

c) Management Hierarchy.

i) Outline your company's management hierarchy using the flow charts on page 248 of your textbook as a guide.

ii) Import/include all charts or diagrams into the MS Word document.

Social Responsibility Section (1-2 pages)

Notes

1) Chapter 14, "Social Responsibility & Sustainability," pages 259-270, of your textbook provides information about developing your social responsibility plan. The chapter also provides a sample social responsibility and sustainability plan. You've already read this chapter in Week 6. Refer to it on an as needed basis as you work on this section of your business plan.

2) Revise your post and the feedback you received on it in the Week 6 discussion thread to create your social responsibility plan.

Instructions

1) Create a social responsibility plan for your selected company expanding on each of these topics:

a) Impact on Stakeholders.

i) Describe the ways your chosen company will impact stakeholders, such as employees, customers, suppliers, and the community. This is the people section of the triple bottom line.

I. What types of benefits (such as health care, flexible work hours, and opportunities for advancement and education) will your company offer employees?

II. What types of opportunities (such as classes, sponsored events, and assistance to causes and charities) will your company offer the community?

b) Environmental Impact.

i) Explain how your company's activities will affect the environment.

ii) Identify the steps you will take to mitigate any negative impacts.

I. How will you minimize your ecological footprint in your operations? Consider energy usage, waste disposal, recycling, using recycled materials, et cetera.

Part B: Business Plan Financials

Revise the Business Plan Financials Excel Template based on feedback from the discussion thread and changes you make to your business plan.

Be sure the numbers in the Business Plan Financials Excel Template match any numbers included in the Operations, Technology, and Management and Organization sections of your business plan narrative.

1) Remember that the guidelines, whether for your own startup company or for the snack food company scenario, provide helpful information on completing the worksheets within the Business Plan Financials Excel Template.

a) Snack Food Company Guidelines [PDF] Download Snack Food Company Guidelines [PDF].

b) Company of Your Choice Guidelines [PDF] Download Company of Your Choice Guidelines [PDF].

The specific course learning outcome associated with this homework is:

1) Create an operations, technology, and management plan for a company, including considerations for ethics and social responsibility and business financials.