Operating Plan

This week create the operating plan sections for your business plan (see attachments). Your final post should include these catagories and be in a similar format as shown below.


Section 5. Operating Plan


Organization Structure: The operating portion of the plan deals specifically with the internal organizational structure, operations, and equipment you will need to operate your venture.

Ownership and Management: How the business will be owned and managed, your personnel and physical resource needs, and the legal issues you will have. A useful management tool to use is a job description for each position in the venture. A job description defines in advance what the roles of each individual will be and helps in communicating job expectations. An organizational chart of the positions required and job descriptions for the key employees will help readers understand how the business will operate.

Production Methods: Outline the methods you will use to produce your product (or conduct your service), especially for a manufacturing venture. Pay particular attention to which actions will be done within your business and how you will source the inputs you require. Part of this should be estimates of your production costs. The technical feasibility of producing and distributing the product will be an important aspect of many ventures.

 Facilities and Equipment Estimate: what facilities and equipment you will use and where they will be located in relation to your suppliers and customers. Describe the size and usefulness of the facilities and any modifications needed to start operations and as your business grows.

Operations; Describe how your business will be operated in terms of both schedule and procedures. Your schedule may be part-time or full-time, may only operate in certain seasons, may observe certain holidays, or may have extended hours at times of the year. Operationally, describe how you will manage your business. A manufacturer will want to describe how raw materials will be obtained and transformed into a finished product. A service provider will want to describe where, when, and how the service will be performed. Your operational description should also include your policies and procedures for billing and collections, contract management, inventory control, record keeping, and how you will maintain quality.

Legal Issues:  Intellectual Property Protection Protecting your business and its products from imitators should be a concern early in your venture, particularly if you have innovative products. Trademarks and service marks will protect your companys marketing symbols for products and services. Patents will help protect the products you create.

Compliance: Every business is subject to local, state, and federal regulations. Outline your plan for complying with relevant regulations.


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