Fluent Essays

It is time to put it all together! This week, you will combine all components of your business plan together into one document, and develop an executive summary to place at the beginning of your plan. Be sure the components of your plan have been edited to reflect your instructor’s feedback, so you submit a final draft of each as opposed to just submitting the same version that was already submitted previously.  five to six references 2 Operation, Production and Supply Students’ Name Institutional Affiliation Course Professors’ Name Date Operation, Production and Supply The definition of business management is the management of the coordination and organization of company operations. Management is responsible for planning, organizing, directing, and managing the businesss resources to achieve the policys goals and objectives (Santoro, et al., 2019. To manage a company well or effectively, one of the company management has to develop key measurements that will aid in deciding how various actions will be performed in the entire manufacturing process. The following management approach will be used in my company and will be integrated into the entire manufacturing of the wireless phone charger. The first approach is on company operations. Company operations is a broad word that encompasses a wide range of activities such as investments and finance (Brennan & Merkl-Davies, 2018). Several activities will be carried out in my business, including funding for the manufacture of the wireless phone charger, among others. Thus, it will be possible to accumulate some money that can be utilized to cover the projects costs. Any action that a company participates in with the main goal of generating a profit is considered part of its business operations. This is a broad word that refers to any economic activities a firm engages in throughout its commercial operations. Business operations, including operating, investing, and financing, are continuous and geared toward maximizing shareholder value (Salvioni & Gennari, 2017). The second part of the statement of cash flows contains information about investing activities. A commercial activity that is capitalized over more than one year is defined as follows: It is reported in this part as an expenditure of cash to acquire long-term assets. Additionally, the sale of real estate is included as a source of funds. Investing activities, such as capital expenditures, are recorded in this part of the cash flow statement, where the line item capital expenditures is located. The second approach is on company production. The production strategy is comprised of choices that influence the long-term capabilities of a manufacturing organization. My company will implement a production plan that will aid in making sound choices, ensuring that the output of the production system fulfills client needs in the most efficient manner possible (Tarigan et al., 2021). If my business produces goods or products that meet customer desires, it will be possible to gain a competitive advantage hence company success and achieving set goals. The last approach that my business will employ to ensure that it runs smoothly will be on supply. Supply chain management is not complete without the involvement of logistics. Products must be moved in a timely, safe, and effective manner; therefore, it is used to organize and coordinate their transportation. No matter how far the client is located, every customer wants their goods to be delivered promptly and perfectly. My company is going to ensure that all six Rights in supply chain management are keenly observed. Such rights may include; right place, time, condition, quality, quantity, and price, which will be observed to both the company itself and customers (Hrušecká et al., 2017). References Brennan, N. M., & Merkl-Davies, D. M. (2018). Do firms effectively communicate with financial stakeholders? A conceptual model of corporate communication in a capital market context. Accounting and Business Research, 48(5), 553-577. Hrušecká, D., Pivnička, M., & Borges Lopes, R. (2017). Logistics management as a system constraint. Polish journal of management studies. Salvioni, D. M., & Gennari, F. (2017). CSR, Sustainable Value Creation and Shareholder Relations. Salvioni, DM & Gennari, F.(2017). CSR, Sustainable Value Creation and Shareholder Relations, Symphonya. Emerging Issues in Management (symphonya. unimib. it), 1, 36-49. Santoro, G., Fiano, F., Bertoldi, B., & Ciampi, F. (2019). Big data for business management in the retail industry. Management Decision. Tarigan, Z. J. H., Mochtar, J., Basana, S. R., & Siagian, H. (2021). The effect of competency management on organizational performance through supply chain integration and quality (Doctoral dissertation, Petra Christian University). Sheet1 particulars 1st year 2nd year 3rd year 4th year 5th year mixers 104,000 104,000 114,400 119,600 124,800 cookers 46800 46800 57200 62,400 67600 purifiesr 36400 36400 41600 46800 5200 fryer 18200 18200 20800 26000 31200 food mixer 10400 10400 13000 15600 20800 freezer 41600 41600 46800 52000 62400 oven 62400 62400 67600 72800 78000 marketing 52000 52000 62400 67600 72800 graphic design 13,000 13,000 15600 20800 26000 mobile app 78,000 78,000 83200 88400 93600 revenue 462,800 462,800 522,600 572,000 582,400 particulars 1st year 2nd year 3rd year 4th year 5th year total revenue 462,800 462,800 522,600 572,000 582,400 cost ofgoods 1000 2000 3000 4000 5000 gross profit 461,800 460,800 519,600 568,000 577,400 expenses auditors fee 200 200 300 350 400 advertisement 1600 1600 1600 1800 1800 insurance 1000 1050 1103 1158 1216 F&F 2700 2754 2809 2865 2923 maintanance 600 600 700 700 800 miscellaneous 1800 1800 2200 2300 2700 telephone charge 180 180 190 190 200 internet 200 200 200 200 200 utilities 1000 1000 1000 1000 1000 depreciation 2200 2200 2200 2200 2200 total operating expenses 11480 11584 12302 12763 13439 operating profit 450,320 449,216 507,298 555,237 563,961 particulars year 1 year 2 year 3 year 4 year 5 starting cash 1000 1600 15672 35548 67160 sources profit -1000 12472 22276 31412 40548 depreciation 2200 2200 2200 2200 2200 changes in inventory supplies -300 -300 -200 -200 -350 changes in accounts payable 400 400 300 300 250 expected new investor proceeds 7500 total sources 8800 14772 24576 33712 42648 uses capital expenditure 6000 5000 3000 2000 net change in cash 2800 14772 19576 30712 40648 ending cash 3800 16372 35248 66260 107808 particulars 1st year 2nd year 3rd year 4th year 5th year assets cash 1000 1600 15672 35548 67160 inventories 200 500 800 1000 1200 total current assets 1200 2100 16472 36548 68360 long-term assets 1000 1050 1103 1158 1216 depreciation 2200 2200 2200 2200 2200 total assts 4400 5350 19775 39906 71776 liabilities and equities accounts payable 1900 2850 17275 37406 69276 total current liabilities 1900 2850 17275 37406 69276 paid in capital 2500 2500 2500 2500 2500 total liabilties and capital 4400 5350 19775 39906 71776 1 Development of Business Plan Student’s Name Institutional Affiliation Course Professors’ Name Date Development of Business Plan First item I will use a restaurant business as an example of a firm that has achieved significant milestones. (Include just the completion dates for each of your goals.) · Date of commencement/opening · Set up your social media accounts, such as Facebook and Twitter. · Inventory turns need investigation. · Having to choose your Menus Top 10 Best Sellers/most popular food/drink · Review of sales figures for the previous month · A yearly assessment of ones performance In order to get your business in front of the media, you need to convince them that your customers would care or profit from what they have to say. As a result, if your business is featured in the media, this tells investors that your consumers are interested in what youre doing. In addition, if consumers see that you are concerned about their experience, they are more likely to return to your restaurant in the future. Second item Creditors and investors also want to examine projected financial data that shows sales and profit projections. This list of financial forecasting requirements is a must have. · For each year that I have been in business, project your income statements, balance sheets, cash flow statements, and capital expenditure budgets. · Monthly or quarterly financial forecasts should be included in the first year of company for the sake of completeness. Four years of quarterly or annual predictions are sufficient once the first year has been documented. · I am supposed to make sure funding requests match my estimates to avoid any discrepancies. It can assist in clarifying any underlying assumptions in my forecasts. 2 Organizational Chart Student Name Institution affiliations Professor’s Name Due Date Organizational Chart According to Berg et al. (2021), an organizations organizational chart is a visual diagram conveying its internal structure by showing the relationship between leadership positions in the entity. The above organizational chart is a graphical representation the organizations structure, showing the various job positions and departments that connect the organization’s employees and the top management. Chief executive officer The CEO will be the highest ranked executive and will be required to have at least a bachelor’s degree and related and extensive industry and business experience of more than ten years. The responsibilities of the CEO will be as follows; - · Communicating with the public, government agencies, and shareholders on behalf of the company · Leading the organization’s development in the short and the long run · Developing and implementing the organization’s mission and vision · Assessing the organization’s risks and ensuring they are well monitored and reduced Chief design officer The chief design officer will drive the development of the technical design of the product. The person holding this position will be required to have a bachelors degree related to design and more than eight years of experience in design-oriented jobs. The responsibilities of the chief design officer include; - · Develop design processes · Collect consumer needs through research methods like interviews, observations, and translate the findings into refinements and design solutions · Develop process flows, visual design, and wireframes for consumers · Stay updated on design trends · Mentor, motivate and supervise the design team Chief operating officer The (COO) chief operating officer will be in charge of handling the daily operation and administration of the organization. The minimum educational qualification for this position is a bachelors degree in business or a related field with extensive experience of more than eight years within the industry. The COO will have the following responsibilities; - · Groom the company’s next CEO · Compliment the experience and management style of the CEO · Lead strategic imperative · Execute the strategies created by the management team Top vice presidents The top vice presidents will oversee the planning, implementation, maintenance, and development of the organizations financial, administrative, and technological departments promoting and supporting objectives and worthwhile goals. The top vice presidents will be required to have a Bachelors degree in their respective fields and more than eight years of related experience. The responsibilities will include; - · Maintenance of trends and development knowledge in the respective departments · Facilitate modifications of the existing systems and development of new systems · Ensure availability of appropriate systems and equipment · Draft and implement best practices and policies to support the achievement of required standards and objectives in the departments Vice presidents The vice presidents will provide guidance and leadership to the organizations human resources, communications, marketing communications, interface design, and industrial design. The vice presidents will be required to have a Bachelors degree in their respective field and more than eight years of experience in their related field. The responsibilities of the vice presidents will include; - · Participating in networking and professional development events and conferences · Lead the respective departments, units, and the overall operations of the organization · Participate in the CEO team for developing the organization’s directional strategies · Develop and implement strategic plans · Assess the organization’s success References Berg, A., Leder, A., Rico, A., Medina, J., Hannah, R., Campas, S., ... & Reid, L. (2021). FY2022 Organizational Chart. Policy, 602, 364-3086.