In this assignment, you will focus on these sections of
Overview
In this assignment, you will focus on these sections of your business plan:
- Operations.
- Technology.
- Management and Organization.
- 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:
- The business plan (A3-Operations, Technology, Management, and Ethics Plan Template Download A3-Operations, Technology, Management, and Ethics Plan Template[doc]).
- 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, 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.
- 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?
- Consider questions such as these regarding facilities:
- 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?
- Include any equipment you plan to use, if applicable.
- 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?
- Facilities.
Technology Section (1-2 pages)
Notes
- 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.
- 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?
- Software Needs.
Management and Organization Section (1-2 pages)
Notes
- 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.
- 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 textbook as a guide.
- Import/include all charts or diagrams into the MS Word document.
- Key Management Employees.
Social Responsibility Section (1-2 pages)
Notes
- 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.
- 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?
- 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.
- 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.
- Impact on Stakeholders.
Formatting
Format your assignment according to these requirements:
This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the Library site for all supports. Check with your professor for any additional instructions.
- 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.
View RubricWeek 8 Assignment – Operations, Technology, Management, and Social Responsibility Plan (With Financials)Week 8 Assignment – Operations, Technology, Management, and Social Responsibility Plan (With Financials)
COMPANY OF YOUR CHOICE* GUIDELINES • You will create a business plan for a company of your choice. • You must focus on a very specific product or service. • *The instructor will approve your company in a reply to yourWeek 1 discussion post in which you will describe this business. You will revise your
work based on feedback provided. • You must adhere to the guidelines in this document. • You will be the CEO of the new business. • You will develop the business plan with the intention to raise funds and increase sales.
Key Business Plan Parameters Key
Parameter Explanation Business Size You are a startup not yet in operation. You have been operating from your home, but sales are small. You will develop the business
plan with the intention to raise funds and increase sales. Your sales must be over $1 million by the end of the second year. Product or Service Be specific about the product or service on which you are focusing and how you will differentiate yourself from similar products or
services in the marketplace. Market Size You will start marketing and selling the product or service in your geographical area within a 100-mile radius from your home.
Existing Funds You already have some funds (small loan, savings, et cetera).
Intention to Raise Money
To grow the business further, you will need funds from outside investors, either angels, venture capitalists, a group of individual investors on Kickstarter.
Facility You will rent or purchase.
Employees You will have employees, and you will develop your own organizational hierarchy.
Annual CEO Salary
As CEO you have the option not to draw a salary in the first year of business.
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Specific Business Details This table identifies specific details you need to consider in your business plan. Reflect any costs in your business plan narrative and in the Business Plan Financials Excel Template. The f inal column specifies the specific worksheet within the Business Plan Financials Excel Template where you need to input data.
Item Worksheet Within the Business Plan Financials Excel Template
EQUIPMENT PURCHASES AT THE START OF THE BUSINESS AND AS THE BUSINESS GROWS Examples:
• Production equipment • Vehicles for distribution • Computers • Software • Printer
Capital Expenditures Worksheet
PERSONNEL Current Personnel CEO (you) Considerations:
• Your goal is to reach sales of over $1 million by the end of the second year. You will need to hire personnel in all areas of the business to meet this goal.
• Consider increasing the number of employees in operations in the second year as sales increase.
Staf f Budget Worksheet
BUSINESS EXPENSES Marketing Expenses Professional Services
• Consultants • Attorneys • Accountants • Industry specialists
Inventory Purchases (as needed)
Marketing Budget Worksheet Professional Services Worksheet
Inventory Worksheet
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Item Worksheet Within the
Business Plan Financials Excel Template
Additional Expenses • Telephone/fax • Business insurance • Off ice supplies • Mailings and postage • Building maintenance • Utilities, including
o Water/sewer o Gas o Electricity o Trash removal
Income Statement Worksheet
FINANCIAL INFORMATION Available Funds Balance in the bank from loans and savings Future Funds You will need to raise funds from investors. You will determine this based on how much you plan to grow the business. Reminder:
• You will need to pay taxes. • You will determine sales projections.
Capital Investments Worksheet
Cash Flow Statement Worksheet Sales Projections Worksheet
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Guide to Complete the Business Financials Excel Template The Business Plan Financials Excel Template is the base pro-forma financial statement for your business. Complete the worksheets in order.
Worksheet Data Entry Worksheet #1: Set Up and Assumptions Line 9—Enter the month the academic quarter starts.
Line 12—Enter the year the academic quarter starts. Line 15—Enter 2; you choose the number of product lines you will have up to 10 lines. Line 21—Standard default is 30 days, you may adjust this for your business. Line 43—Enter the balance in your bank account as you open your business. Remember you were selling from home.
Worksheet #2: Sales Projections Speculate how much your company will grow and how much you will sell. Ref lect this information in the Operations Section of Your Business Plan (Week 5 Discussion and Week 8 Assignment). You will need to reach sales of over $1 million by the end of the second year.
Worksheet #3: Inventory (adjust as needed) Enter the cost of ingredients, packaging, bags, et cetera. Repeat these lines for each product line.
Worksheet #4: Capital Expenditures (applies to purchased NOT leased equipment)
Insert the cost of your facility, equipment, vehicles, computers, et cetera, you decide to purchase.
Worksheet #5: Staffing Budget Account for every paid employee using the appropriate lines for the six categories of employees
1. Management 2. Administrative/Support 3. Sales/Marketing 4. Operations/Production 5. Other 6. Part-Time/Hourly
Indicate when their employment will start according to the Operations and Management and Organization sections of your business plan.
Worksheet #6: Marketing Budget Enter the cost for the marketing vehicles you plan to use (Week 4 Discussion and Weeks 5 and 8 Assignments).
Worksheet #7: Professional Services Enter payments to accountants, consultants, attorneys, industry specialists as needed. Worksheet #8 Capital Investments Worksheet: Enter equity capital investments, loans, et cetera.
Enter projections of other funds you intend to raise.
Worksheet #9: Income Statement Enter the cost of your expenses; see Business Expenses in the table that appears under the Specific Business Details section of these guidelines.
Worksheet #10: Cash Flow Statement Pay off taxes. Worksheet 11: Balance Sheet This will automatically populate from the other completed worksheets.
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- COMPANY OF YOUR CHOICE* GUIDELINES
- Key Business Plan Parameters
- Specific Business Details
- Guide to Complete the Business Financials Excel Template
,
SNACK FOOD COMPANY GUIDELINES • You must build your business plan using the information included within these guidelines.You can add to this information as needed. • You will create a business plan for a company operating in the snack food industry. • The instructor will approve your company in a reply to yourWeek 1 discussion post in which you will describe this business.You will revise your
work based on feedback provided. • You will be the CEO of the new business. • You will develop the business plan with the intention to raise funds and increase sales.
Key Business Plan Parameters
Key Parameter Explanation Business Size You are a startup not yet in operation. You have the recipe for the snack, and you have been operating from your home, but sales
are small. You were selling the product for $3 per item at a cost of $1. You will develop the business plan with the intention to raise funds and increase sales. Your sales must be over $1 million by the end of the second year.
Product You must focus on a snack. You decide what the snack will be and whether it will be sold in individual sizes or wholesale. The Snack Food industry produces snack foods, such as potato and corn chips, pretzels, roasted and salted nuts, nut butters, popcorn and other similar snacks.
Market Size You will start marketing and selling the product in your geographical area within a 100-mile radius from your home.
Existing Funds You received $50,000 from your grandmother as a gift, and you borrowed $30,000 from your family and friends.
Intention to Raise Money
To grow the business further, you will need funds from outside investors, either angels, venture capitalists, a group of individual investors on Kickstarter.
Facility You will rent.
Employees You will have employees, and you will develop your own organizational hierarchy.
Annual CEO Salary
As CEO your salary will be $60,000 the first year, $120,000 the second year, and finally adjusted to $160,000 for all remaining years in the position.
1
Specific Business Details This table identifies specific details you must use for your snack company business plan. Reflect any costs in your business plan narrative and in the Business Plan Financials Excel Template. The f inal column specifies the specific worksheet within the Business Plan Financials Excel Template where you need to input data.
Item Worksheet Within the Business Plan Financials Excel Template
EQUIPMENT PURCHASES AT THE START OF THE BUSINESS AND AS THE BUSINESS GROWS
• 2 machines to produce and package the product @ $10,000 each; about 50 bags per minute each
• 2 vans for distribution @ $15,000 each • 3 computers @ $1,400 each • Software for inventory, payments, and customer accounts management • Printer
Capital Expenditures Worksheet
PERSONNEL Current Personnel
• CEO (you) • 1 part-time production worker @ $15.00/hour (20 hours/week) • 1 IT support person @ $25.00/hour (20 hours/week) • 1 paid consultant (your neighbor); retired executive in the snack food
industry Considerations: Your goal is to reach sales of over $1 million by the end of the second year. You will need to hire additional personnel to meet this goal. Potential additional hires include: • 2 production line foremen • Production employees (more than one shift)
o Business size of business will determine number • Maintenance staff
o Business size will determine number • Additional employees according to your preferences
Staf f Budget Worksheet
2
Item Worksheet Within he Business Plan Financials Excel Template
BUSINESS EXPENSES Marketing Expenses Professional Services
• Consultant (your neighbor); 1st year only • Attorney • Accountant • Industry specialist
Inventory Purchases (as needed) Additional Expenses
• Telephone/fax • Business insurance • Off ice supplies • Mailings and postage • Building maintenance • Utilities, including
o Water/sewer o Gas o Electricity o Trash removal
Marketing Budget Worksheet Professional Services Worksheet
Inventory Worksheet Income Statement Worksheet
FINANCIAL INFORMATION Available Funds
• Balance in the bank • Gif t from grandmother • Loan f rom relatives and friends
o This is to be paid by the end of the second year of operation with 5% interest.
Future Funds You will need to raise funds from investors. You will determine this based on how much you plan to grow the business. Reminder:
• You will need to pay taxes. • You will determine sales projections.
Capital Investments Worksheet
Cash Flow Statement Worksheet Sales Projections Worksheet
3
Guide to Complete the Business Plan Financials Excel Template The Business Plan Financials Excel Template is the base pro-forma financial statement for your business. Complete the worksheets in order.
Worksheet Data Entry Worksheet #1: Set Up and Assumptions Line 9–Enter the month the academic quarter starts.
Line 12—Enter the year the academic quarter starts. Line 15–Enter 2; you choose the number of product lines you will have up to 10 lines. Line 21—Standard default is 30 days; you may adjust this for your business. Line 43—Enter $15,000; this is the money you currently have in the bank.
Worksheet #2: Sales Projections Speculate how much your company will grow and how much you will sell. Ref lect this information in the Operations Section of your Business Plan (Week 5 Discussion and Week 8 Assignment). You need to reach sales of over $1 million by the end of the second year.
Worksheet #3: Inventory (Adjust These Figures Line 7– Enter the cost of ingredients. As Needed) Line 8—Enter the cost of bags.
Line 9—Enter the cost of cartons to package the products. Repeat these three lines for each product line.
Worksheet #4: Capital Expenditures (applies to purchased NOT leased equipment)
Insert the cost of the equipment, vehicles, computers, et cetera, you decide to purchase.
Worksheet #5: Staffing Budget Account for every paid employee using the appropriate lines for the six categories of employees
1. Management 2. Administrative/Support 3. Sales/Marketing 4. Operations/Production 5. Other 6. Part-Time/Hourly
Indicate when their employment will start according to the Operations and Management and Organization sections of your business plan.
Worksheet #6: Marketing Budget Enter the cost for the marketing vehicles you plan to use. (Discussion 4 and Assignments 2 and 3).
Worksheet #7: Professional Services Line 6—Enter $3,000.00. Line 7–Enter $2,500.00. Line 9—Enter $2,000.00 Line 11—Enter $10,000.00 (f irst year only)
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Worksheet Data Entry Worksheet #8 Capital Investments Worksheet Equity Capital Investments
Line 6—Gif t—Enter $50,000.00. Loans (Friends and Family) Line 24–$30,000 Note: The loan period = 24 months; interest rate = 5%
Worksheet #9: Income Statement Enter the cost of your expenses; see Business Expenses in the table that appears under the Specific Business Details section of these guidelines.
Worksheet #10: Cash Flow Statement Pay off taxes. Worksheet #11: Balance Sheet This will automatically populate from the other completed worksheets.
5
Resources on the Snack Food Industry
These resources are a good starting point for you as being researching the snack food industry.
C. Barnes. 2020. 2020 U.S. industry & market report–NAICS 31191: Snack food manufacturing, 1–196.
Jan Conway. 2018. U.S. Snack Foods Industry—Statistics & Facts. Statista. https://www.statista.com/topics/1496/snack- foods/
Patrick Limdico. 2019. 47 Snack Food Industry Trends and Consumption Statistics. Foodtruck Empire. https://foodtruckempire.com/news/snack-food-industry/
Douglas J. Peckenpaugh. 2019. State of the Industry 2019: Defining the Future of Snacking. SF&WB. https://www.snackandbakery.com/articles/93232-state-of-the-industry-2019-defining-the-future-of-snacking
L. Petrak. 2019. Mindful Munching: The Evolution of Mealtime Is Fueling the Trend Toward New Kinds of Nibbles. Progressive Grocer, 98(5), 50–54.
Statisa. No date. Consumer Market Outlook: Snack Food; United States. https://www.statista.com/outlook/40110000/109/snack-food/united-states
Mordor Intelligence. No date. Snack Food Market—Growth, Trends, and Forecasts (2020–2025). https://www.mordorintelligence.com/industry-reports/snack-food-market
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- SNACK FOOD COMPANY GUIDELINES
- Key Business Plan Parameters
- Specific Business Details
- Guide to Complete the Business Plan Financials Excel Template
- Resources on the Snack Food Industry
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