Assignment : Supply Chain Management and Financial Plan
"One of the most important steps in launching a new business venture is fashioning a well-designed, practical, realistic financial plan" (Scarborough & Cornwall, 2015, p. 454).
With this assignment, you are creating two important elements of a financial plan: an Income Statement and Balance Sheet. You also are preparing an outline of a presentation of your business plan to potential investors or lenders.
Using the business you created from Assignments 2 and 3, write a three to four (3-4) page paper in which you:
1. Prepare a simple pro forma (projected) income statement and balance sheet for the first two years of operation, using income projections and incorporating an advertising plan.
2. Outline a plan for hiring and retaining competent, motivated employees for your business.
3. Prepare an outline for a "pitch," i.e., a short 20-30 minute business plan presentation that will be made to lenders or investors.
4. Include at least two (2) references outside the textbook.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
Discussion Questions
"Location and Quality Control" Please respond to the following:
• Identify three (3) factors you would recommend be used to select a location for a business in order to provide it with a competitive advantage. Next, select a location, and state the reasons that support your site selection. (If you envision this business being online only, then identify a temporary, pop-up site that will help this business enter a new market.)
• You want to adopt a program to improve quality and efficiency within a company. Analyze four (4) quality control tools (Lean Principles, 5S Principles, Six Sigma, and Total Quality Management). Next, discuss which tool you would select to implement into a business. Justify your response.
"Inventory and Staffing"
• Discuss three (3) inventory factors that you believe could present problems for a business. Next, create a strategy that would help mitigate these challenges.
• Outline a strategic plan for hiring and retaining competent, motivated employees within a business.