Operations Technology and Management and Social Responsibility Plan with Financials

(33 comments)

I'm working on a business plans project and need an explanation to help me study.

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

  • Operations.
  • Technology.
  • Management.
  • Social Responsibility.
  • 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 assignment consists of two parts:

  1. The business plan (an MS Word document).
  2. Business plan financials (using the Business Plan Financials Excel Template).

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

Reminders and Notes
  • 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.
  • Be sure to follow the guidelines, whether you use the snack food company scenario or the company of your choice:
  • You are not starting this assignment from scratch. You have already worked on these sections of your business plan in the weekly discussions:
    • Operations (Week 5 discussion).
    • Social Responsibility (Week 6 discussion).
    • Financials (Week 7 discussion).

PART 1: BUSINESS PLAN

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

Operations Section (1–2 pages)

Notes:

  • Chapter 11, “Operations,” pages 195–218, 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.
  • Assign a dollar amount to each operational cost you find; you will need these figures for your financials (Business Plan Financials Excel Template).
  • 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.
  • Revise your post and the feedback you received on it in the Week 5 discussion thread to create your operations plan.

Instructions:

  • Create an operations plan for your selected company expanding on each of these topics:
    • Facilities.
      • Consider questions such as these regarding facilities:
        • Will you rent or buy your facilities, or will you outsource production to an existing company?
        • If you are renting or buying your facilities, what utilities will be required to run the operation?
        • What will be the costs associated with any necessary utilities?
    • Production Process or Description of How Your Business Will Operate If Retail or Service Company.
      • Include any equipment you plan to use, if applicable.
        • Research needed equipment, such as machines, refrigerators, burners, ovens, and so on.
        • Will you rent or buy needed equipment?
        • How will you maintain and clean the equipment?
        • How will you ensure quality control?
        • What capacity do you intend to reach?
        • If you have a retail or service business, consider any equipment you might need in your process.
      • Explain your approach to inventory, as applicable.
        • Where do your supplies come from?
        • What is your turnaround time to produce your product once you have received an order?
    • Research and Development.
      • How will you stay abreast of new developments in the industry?
      • What new products or services are in development?
    • Personnel Needs in Operations.
      • How many operations employees do you plan to have?
      • What will their roles be?
Technology Section (1–2 pages)

Notes:

  • Chapter 12, “Technology Plan,” pages 225–234, 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.
  • Assign a dollar amount to each technology cost you find; you will need these figures for your financials (Business Plan Financials Excel Template).
  • 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.
  • 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:

  • Create a technology plan for your selected company expanding on each of these topics:
    • Software Needs.
      • Examples of software you might need include: graphics, customer relationship management, accounting, inventory, and office suite.
    • Hardware Needs.
      • Examples of hardware you might need include: computers, monitors, servers, routers, and tablets.
    • Telecommunication Needs.
      • Examples of telecommunication equipment you might need include: phones, Internet, fax, and mobile phones.
    • Personnel Needs in Technology.
      • Will your technology personnel be in-house or outsourced?
Management and Organization Section (1–2 pages)

Notes:

  • Chapter 13, “Management & Organization,” pages 235–258, 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.
  • 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:

  • Create a management and organization plan for your selected company expanding on each of these topics:
    • Key Management Employees.
      • List key management team members along with a several sentence description of each person’s relevant business background and responsibilities.
    • Advisors.
      • 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.
    • Management Hierarchy.
      • Outline your company’s management hierarchy using the flow charts on page 248 of your text as a guide.
      • Import/include all charts or diagrams into the MS Word document.
Social Responsibility Section (1–2 pages)

Notes:

  • Chapter 14, “Social Responsibility & Sustainability,” pages 259–270, 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.
  • Revise your post and the feedback you received on it in the Week 6 discussion thread to create your social responsibility plan.

Instructions:

  • Create a social responsibility plan for your selected company expanding on each of these topics:
    • Impact on Stakeholders.
      • 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.
        • What types of benefits (such as health care, flexible work hours, and opportunities for advancement and education) will your company offer employees?
        • What types of opportunities (such as classes, sponsored events, and assistance to causes and charities) will your company offer the community?
    • Environmental Impact.
      • Explain how your company’s activities will affect the environment.
      • Identify the steps you will take to mitigate any negative impacts.
        • How will you minimize your ecological footprint in your operations? Consider energy usage, waste disposal, recycling, using recycled materials, et cetera.
Formatting

Format your assignment according to these requirements:

  • Typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
  • You must include headings in your paper for each major topic.
  • Include a cover page containing the assignment title, your name, the professor’s name, the course title, and the date. The cover page is not included in the required page length.
  • Include a source list page. All sources used must be listed in the source list page and have a corresponding in-text citation. Citations and references must follow SWS format. The source list page is not included in the required page length.
    • Note: There is no minimum requirement for the number of resources used in this assignment.

PART 2: BUSINESS PLAN FINANCIALS

Revise the Business Plan Financials Excel Template based on feedback from the Week 7 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.
  • 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.

LEARNING OUTCOMES

The specific course learning outcome associated with this assignment is:

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

Added Instruction (2021-05-26)

I will upload you the spreadsheet and the comment from the instructor

 
22 mins ago

Comment:

Please check and adjust the following:

  • Inventory- the Inventory Expense must equal the Cost of Goods Sold for every month and product line, for the first two years. Check all the product lines and all the months for the first two years.

How to complete the inventory worksheet – with example

  • Staff budget- You should not have months without employees (see managers and other months were you had employees and then you are at zero).

Please adjust for Assignment 3. Make sure your financials reflect the information you used in your business plan (assignments 1-3).Check the videos for more details.

Added Instruction (2021-05-26)

Week 4 discussion:

  • Describe how your business operations will work. In other words, you want to explain the day-to-day flow of activities necessary to deliver your product or service to customers. Wherever applicable, identify costs. Be sure to address the following, if applicable to your chosen business, in the post:
    • Facilities.
      • Describe the facility, including its location.
      • Specify whether it is rented or owned; include any associated costs.
      • Estimate the cost of utilities, such as water/sewer, gas, electricity, and trash removal.
    • Production Process.
      • Describe the production process (how you will produce the product) or describe how your business will operate if retail or service company.
      • Identify the equipment you will use and associated costs.
      • Describe the capacity to produce the product.
      • Explain your approach to quality control.
      • Explain your approach to inventory, as applicable.
      • Where do your supplies come from?
      • What is your turnaround time to produce your product once you have received an order?
    • Research and Development.
      • Explain how you will stay abreast of new industry developments.
      • Describe the new products or services that are in development.
    • Personnel Needs in Operations.
      • Specify the number of operations employees you plan to have.
      • Describe their roles.

Post:

Facilities

Fresh Oxygen Bar is located in downtown Norfolk 300 Monticello Ave, Norfolk, VA 23510 with the area of 1500 sq. ft.

The location is a rental and the monthly rent is $1600.00

Utility costs include monthly charge of electricity $150, gas $50, water/sewer $50 and trash collection is $125 per quarter.

Production Process.

The oxygen in oxygen bars comes from completely self-contained machines called oxygen concentrators.

These concentrators use a technology called Pressure Swing Adsorption, a NASA created technology that filters out Nitrogen, Argon and other trace gasses from the ambient air. This technology then puts the separated oxygen molecule to 92% purity to the recipient and the Nitrogen and other gasses get released back into the atmosphere. The associated costs to set the business up are nearly $45,000 at the beginning.

Portable cylinders containing 300 l are available, which last for two hours at a flow rate of 2 l/min. This can be extended with an oxygen conservation device Lightweight portable cylinders are available to minimize any extra work from carrying the equipment during exercise.

For the quality control purpose there will be a personnel who will inspects if the cylinders are leaked, dent or open.

The personnel will track the number of cylinders used in a week and the flow of customers in an excel spreadsheet. Once the month is over and the demand of service increased or decreased they will be responsible to re-order of the inventory.

Our supplies comes from well know distributor called Medical Equipment Distributor located in 521 Central Drive, Virginia Beach, VA, 23454.

Once we order our products they will deliver our demand within 3-business day.

Research and Development.

We want to strive for our success and for its growth we will focus on customer service and their feed back. Our customer will be given a flyer on how we performed our service and the quality of our area. In additional we will get updated from different social media platform like facebook, Instagram and most importantly from Yelp.

Once we get our feedback we will see what kind of demand they will ask for it and accordingly we will get that service from our vendor and fulfilled our customer demand.

Personnel Needs in Operations.

In total there will be 4 employees

1 IT/ Inventory Specialist

2 Csutomer Service Provider

1 Administrator

 

Comment:

Specify any major equipment, furniture, vehicles needed in operations and their cost.

How, specifically will you stay in touch with what is going on in the industry? Who is in charge of the research and development activities at your business? What new products and services do you have in development?

Clarify the salaries or hourly wages for the employees in operations. Note that you will increase the number of employees as your business grows.

Keep in mind that you must follow the guidelines provided in the Company of Choice Guidelines document. You must build a solid business to reach sales of over 1 million by the end of the second year.

Added Instruction (2021-05-26)

adjust the number in word according to the spreadsheet for like employee and rent.

Added Instruction (2021-05-29)

  • Research and Development
  • Discuss who will be in charge of the R&D activity at your company.
  • can you answer this question.
6 mins ago
  • Discuss any new products or services you have in development
  • answer for this one as well

Added Instruction (2021-05-30)

I do not see Manager On Management Hierarchy chart. Please include them

18 mins ago

Personnel Needs in OperationsIn total, there will be four employees at the beginning before recruiting other employees later on there will be extra personnel on each department to enhance operations.

Please allign with this statment.

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