Business Plan

Assignment 2: Operations Management Tool Application Reflection

Individually review the tools, concepts, and theories presented in this class and prepare a word doc format write-up in no more than 3 pages single spaced where you discuss which course tools, concepts, and ideas you see as having the greatest relevance and application to your current personal/professional responsibilities, current employment or future employment positions or entrepreneurial aspirations if you plan to be self-employed in a business venture. See the next page for additional suggestions on Individual Assignment # 2.

The goal of the class is to provide you with relevant tools, concepts, and approaches that will add value in the following ways:
If you are currently working full-time or part-time, being able to apply the course ideas to improve the efficiency and effectiveness of the operations at your work site.
If you are not currently working, the course provides ideas to improve the efficiency and effectiveness of the operations at your future work site.
If you have an entrepreneurial idea for a business start-up, the course ideas can be used to complete the operations management plans section of your business plan or to manage the operations of your established startup venture.
Many students also see creative transfer of the course ideas to increase their own professional and personal efficiency and effectiveness with tasks.

The following are offered as illustrations of what some individuals have described as benefits from using course ideas and tools:

Currently Working: Some individuals have taken course ideas and prepared a brief operations audit for their supervisor and employer including suggestions for change. Students have mentioned to me getting pay raises, bonuses, or promotions as a result. A few students were asked to present their ideas to the COO of the firm after they presented their ideas to their supervisor.

Entrepreneurial Venture: When writing the business plan, the operating plan section describes the physical necessities of your business’ operation, such as your business’ physical location, facilities and equipment. Depending on what kind of business you’ll be operating, it may also include information about inventory requirements and suppliers, and a description of the manufacturing process.
Keeping focused on the bottom line will help you organize this part of the business plan; think of the operating plan as an outline of the capital and expense requirements your business will need to operate from day to day.