Assignment 3: Operation, Technology, and Management Plan (with Financials) (Coursework Sample)
Assignment 3: Operation, Technology, and Management Plan (with Financials)
Due Week 8 and worth 100 points
This assignment consists of two sections: the Word document and your business plan financials. Note: You must submit both sections as separate files for the completion of this assignment.
Use the NAB Company Portfolio (see Required Course Files in Week 1).
Write a 4-8-page paper in which you provide the following information below.
Operations Plan (1–2 pages)
Note: Remember to assign a dollar amount to each operational cost you find, as you will need these figures for your income statement and cash flow in Week 8.
Create an operations plan for your NAB company using the template in the text as a guide (p. 214 | Operations Plan Preparation Form). Extract appropriate information from the NAB Company Portfolio, where applicable. Other required items in the template should be filled in using your personal preferences.
Note: Most of the research pertaining to the hints provided here can be found in the NAB company portfolio.
Hints: Consider whether you will rent or buy your facilities or outsource production to an existing company.
Hints: One of your biggest expenses as a startup non-alcoholic beverage company will be transitioning from a small-batch prototype of your beverage to production on a large scale. Research the equipment you will need (vats, refrigerators, burners, ovens, bottling equipment, and so on), whether you will rent or buy, how you will maintain and clean the equipment, and so forth. Consider how you will ensure quality control. What capacity do you intend to reach?
Hints: Deliberate your inventory control. Where do your supplies come from and what is your turnaround time to produce your beverage once you have received an order?
Hints: Consider your distribution method. Refer back to your notes for the SWOT analysis assignment in Week 2 of the class.
Hints: How will you stay abreast of new developments in your industry? What new products do you have in development now, in addition to your flagship product?
Describe your research and development activities and explain how they will contribute to the company.
Technology Plan (1–2 pages)
3. Create a technology plan for your NAB company using the template in the text as a guide (p. 227 | Technology Plan Preparation Form). Extract appropriate information from the NAB Company Portfolio, where applicable. Other required items in the template should be filled in using your personal preferences.
Hints: Consider the type of technology your company will use to conduct the following activities: managing personnel; taking, fulfilling, and tracking orders; managing inventory; communicating with customers and providing customer service; and producing your beverage.
Management and Organization (1–2 pages)
Create a management plan for your NAB company using the template in the text as a guide (p. 248 | Management Plan Preparation Form). Extract appropriate information from the NAB Company Portfolio, where applicable. Other required items in the template should be filled in using your personal preferences.
Using the flow charts on page 242 as a guide, outline your company’s management hierarchy. Note: Charts or diagrams must be imported/included in the MS Word document.
Create an ethics and social responsibility plan (1-2 pages)
Describe the ways in which your company is committed to being a good corporate citizen.
Hints: Consider the following areas:
Following the laws of every jurisdiction in which your company operates
Fair and honest treatment of employees
Non-discrimination of employees and increasing diversity of your work force
Hints: If your company is designed as a social venture—in which you have a primary purpose of achieving a social or environmental goal—describe what that goal is and what aspects of your company are designed to reach that goal. Provide a rationale for why you have or have not chosen this to be a social venture.
2. Discuss how your company’s activities will affect the environment and identify the steps you will take to mitigate any negative impacts.
Hints: As a beverage company, consider such issues as your choice of packaging, disposal of bottles/packages by consumers, and your use of resources, such as water in areas where water may be scarce.
3. Determine any health issues/claims related to the product you are making, whether negative or positive. Suggest the strategy your company will use to mitigate any negative issues and to ensure any positive claims are true.
Operations, Technology and Management Plan
Operation, Technology and Management
The report presents detailed operation, technology and management plans for the new business venture known as New Millennial Coffee Company (NMCC). NMCC requires the plans to ensure that the company operates as per the defined objectives and also for the achievement of the desired market share in the millennial customers’ market segment of New York City through its offered product of ready to drink coffee.
2. Operations Plan
NMCC’s operational plan helps to provide support to the higher management for the achievement of effectiveness in the operational activities.
2.1. Key Aspects of Operations
The company decides to adopt cost-effective approaches for the production processes, therefore, the production facilities need to be small and only professional and high skilled employees are given the chance to get employed.
The production facility will be rented in New York City. The research and development (R&D) department have identified that at least an area of 5000 square foot is required to carry out the production of ready to drink coffee, therefore, the expected rent for this kind of building is about $20,000 to $30,000 per month (Carmiel, 2020).
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