Business plans Free Essay Samples & Outline
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Essay on Business plans
Business plans are the foundations from which successful businesses are constructed. It can be a statement of goals of the business, the reasons as to why these goals can be attained, and the plans that can be used to attain the set goals. A plan may contain information such as; the problems that the company is facing, the solutions that the company may offer to those problems the gap or the niche that the company is planning to fill and the market that the company is planning to cover. Implementation refers to carrying out the plans to accomplish the set goals. It is important that the set goals are accomplished. They can only be accomplished by increasing the willingness to work and motivation of the workers by the management. Following the strategic plans will help a great deal in accomplishment and the implementation of the plans.
Operation management pertains to controlling the production process and the activities of the business in the most efficient manner possible (Killen, etal , 2012). The responsibilities of operation management include; ensuring that the organization operates efficiently in both the usage of the available resources and in customer satisfaction. The four theories that the modern management revolves around include business process redesign (BPR), six sigma, lean manufacturing, and reconfigurable manufacturing systems. BPR is applied in helping the company to restructure the organization by designing the business process from the ground. Reconfigurable manufacturing systems help in allowing the systems to adjust according to the need of the market or the changes that are there in the market. Six Sigma approach may focus on the quality of the produce. This may lead to increased profitability or the lowering of production cost. Lean manufacturing helps in elimination of waste within the production process. It aims at minimizing or eliminating wasteful resource expenditure.
The attraction of human resource management refers to recruiting. The recruitment process starts with identifying who should be recruited. Secondly, making efforts to reach the targeted individuals, then you determine the time that the recruitment should take place, the recruitment message is then designed, then there is planning of an organizational site visit, evaluation of past recruitment efforts, and finally management of the entire recruitment operation. For the organization to maximize profits, recruitment must be free and fair (Taylor, 2014).
The various management theories are implemented to help increase organizational productivity and the quality of services. The different functions of management such as planning, organizing leading, and staffing can be realized through the application of these theories. Some of the theories include contingency theory, systems theory, chaos theory, and theory X and theory Y. The contingency theory helps the managers in that they should make decisions based on the situation at hand or the current situation. Systems theory helps the manager to realize how different systems affect a worker and how the worker affects the systems in the organization. It is, therefore, crucial that the managers take keen interest to look at these theories to enable him to lead and carry out his or her work effectively.
Entrepreneurship is the process of designing launching and running any new business with the aim of making the profit (Stevenson, & Jarillo, 2007). The person who comes up with the idea of starting the business and gets the necessary items to run that business is called an entrepreneur. Entrepreneurs are supposed to have several characteristics to excel. For example, they should be creative, innovative, and ready to take the risk and they should also be willing to seek information. Any entrepreneur should strive to have these characteristics so that he or she can maximize profits. They will also help them be successful in their business.
Killen, C. P., Jugdev, K., Drouin, N., & Petit, Y. (2012). Advancing project and portfolio management research: Applying strategic management theories. International Journal of Project Management, 30(5), 525-538.
Stevenson, H. H., & Jarillo, J. C. (2007). A paradigm of entrepreneurship: Entrepreneurial management. In Entrepreneurship (pp. 155-170). Springer Berlin Heidelberg.
Taylor, S. (2014). RECRUITMENT AND SELECTION. Strategic Human Resource Management: An International Perspective, 139.