Operation Plan Assignment Help
Create an Operational Plan
An Operational plan is the strategic or pragmatic part of a business plan. It specifically details how to go about accomplishing the goals of a strategic business plan. Candidates should complete either Scenario A or B:
Scenario A: Get approval from your trainer to use a scenano of your own choice. It could be the company or business you are currently working for or a business that you are in the process of establishing.
Scenario B: You have convinced ten (10} investors, fnends and family, to invest $5,000 each into a business that you want to start-up. But before they hand over the money they want to see that you have an operational plan in place that is sound and that shows that you are taking it seriously. They want to be convinced that you will succeed and that you have planned this business venture property and taken everything into consideration. They want to see HOW you will spend their money and a GNATT chart of when each step of the process will be implemented. They want to see realistic KPI's and a contingency plan. They want to see enthusiasm and professionalism in the report. You are opening up a small restaurant located at unit 3, 118 Mawson Pi, Mawson in Canberra. The name of the Malaysian Restaurant will be "Spices of Melacca"
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The operational plan is a guide that helps to ensure that the business activities are being conducted according to the plan. I would like to develop an operational plan for my business which I would like to start up. I would like to use Scenario B for My business. We know that the restaurant industry has been growing and therefore I would like to open a small restaurant which is located at unit 3, 118 Mawson Pl, Camberra. The name of the restaurant would be spices of Meiacca. The restaurant business will be started during the summers with some refreshing drinks.
The purpose of preparing an operational plan for my business is to attract investors for my business and to inform them about the operational activities of my business and how the business activities will be conducted. This is basically to ensure that the money provided by them for doing business would yield them with high returns and will be utilized appropriately.
The main purpose of creating an operational plan would be to gain a complete and detailed understanding of how the business needs to be set. The operational plan would help me and give me a clear picture of all the tasks that need to be performed for starting up the restaurant as well as the roles and responsibilities that would be required in order to achieve the goals as well as the objectives of the business that I wish to start. The operational plan developed would contain all the details of the business setting process like the resources that will be needed, the capital required, human resources and their responsibilities, the marketing strategies required for the business, the attitude towards the customers and many more.
I would like to ensure that everything that has been detailed is being properly executed and by checking the status of the plan on a regular basis. I would like to obtain daily feedback on the progress of the plan in order to ensure that the operational plan set is successful and achieved as planned.
Every business requires a certain amount of resources for it to start. The resources can be of various types like physical, human as well as financial resources. I will need all these resources in order to start my restaurant. One of the most important physical resources that I will need to open up the restaurant would be a building where I can open my restaurant. I would like to take a floor of the building on lease. Initially, the lease contract will be for 2 years which can be renewed after the expiry of 2 years. The rent amount is $800 per week which requires abond of three months. The bond will require one month rent to be paid in advance. There are other physical resources that will be required for my restaurants like equipment that will be needed like for preparingthe food and also for storing them like refrigerator and freezers. Some more equipment that I would need food processors, fryers, different types of utensils like plates, cups as well as forks.
The human resources are the most important resources for any business. A company should alwaysfocus on getting top quality human resources. I wish to do the same for my restaurant. I would need an overall staff of about at least80-100 employees. The pay structure of each employee would depend on the job and responsibilities of the employee. Each staff of the restaurant will have a different role to play in the restaurant. The different types of staff that will be needed are cooks who should be professional, their helpers,dish cleaners, serving staff, staff for taking orders, a cashier who will discharge bills and accept payment from the customers and a manager who would manage all these departments. The manager will be paid the highest of all as his job is more diverse.
The recruitment process of the staff of the restaurant would be very professional. A lot of attention would be given to the personality as well as the communication skills of the staff. The cook that will be recruited will be required to have an experience of cooking of at least 2 years. The manger ho have a hotel management course will only be recruited for the job. I would like to personally recruit all the staffs of my restaurant. Also, the employees that will be employed will be given training in a frequent manner of how they should deal with the customers.
In order to operate a restaurant business, there are a lot of regulatory requirements that have to be complied with. The first step would be to obtain an ABN number. ABN is an AustralianBusinessNumber (ABN) which is an11-digit number. It is a unique number that is given anidentification certificate to businesses in order to conduct business. This will tend to identify my business to the governmental agencies as well as other communities. This will be the first step of getting the business started in a legal manner. This number will also be used for the tax purposes of my restaurant as well as for other purposes.
One more important license which is very important for doing the restaurant business is the food license. The next step of the plan would be to obtaina food license for my restaurant. This is the most important document required for opening a restaurant. The food license obtained would also be regarded as permissionto do the food business and it also requires certain quality standards which should be met and I would ensure that it is being met.
Next, the plan or target will be to obtain a liquor license. I believe that a liquor license is very important for a food business to get. It is absolutely illegal to sell liquors without having a liquor license. The liquor license will be obtained for my business. It is mandatory to have a liquor license in order to produce as well as sell liquor. These are some of the licenses that I would like to acquire for my restaurant business.
Customers should be a top priority of any business. They are the most important asset for any business or organization. I would like to keep the customers at the priority. I would need a certainnumber of customers for my business to survive. The number of customers that I will need in order to sufficient revenues would be at least50 customers on a daily basis. Then I would require a growth rate of atleast 20%.
It is very important to get customers at the right time. For this, it becomes important to attract customers. I would like to devise a proper strategy in order to get the required number of customers for my restaurant business. Initially, each customer who visits the restaurant for the first time would be given a 20% discount and a further 15% discount on next visit on referring the restaurant to other people. This would increase the chain of the customers as one would inform the other and this way, I would get more customers to my restaurant. The discount offer will tend to attract customers. The first customer who visits will refer the restaurant to its friends or relatives in order to availa 15% referral discount and the chain will continue in this manner.
Another way to attract customers would be to provide them with the best service ever. A customer who is satisfied will tend to come again and again. A happy and satisfied customer ultimately becomes a loyal and permanent customer. The employees of the restaurant will be specifically trained in order to provide the best treatment to the customers. We would tend to concentrate on the quality that is being provided to the customers as only the fresh ingredients will be used to prepare foods. Nowadays, we know that customers have become too much health conscious. This will be kept in mind while preparing food at the restaurants and would be at the top priority.
Key Performance Indicators (KPI)
A key performance indicator is basically a performance measurement tool that can be used to measure the progress of the organization on an overall basis including the employees of the restaurant. There are various types of key performance indicators that can be used for this purpose. Service quality would be used as the key performance indicator in order tosee if the quality standards that have been set are being met or not. The examples that can be used for this would be the number of complaints received from the customers, late deliveries being done, the feedback provided by the customers and more. This would definitely help to analyze the performance of the employees as well as how the operational plan devised is being executed at the workplace.
Next, I would like to use efficiency as akey performance indicator. This would help to analyze how efficiently the performance is being performed. The factors like a number of errors or mistakesdoneby the employees, waiting time by the customers, time exceeded by the time set for the training as well as administration of the employees. These key performance indicators would definitely help to monitor the progress towards the goals and outcomes of the operational plan of the business. The SMART KPI can and will also be used to monitor the performance of the business from time to time This requires the employees to be specific, measurable, attainable, relevant as well as time-bound. This would answer questions like is the goal to be achieved specific, measuring progress towards this goal, relevance of the goal for the business and the time frame within which the goal is to be achieved is achievable or not.
Marketing is the most important part of any business. In today’s world, it becomes increasingly essential to devise good marketing strategies for the success of the business. It helps in getting the product or service delivered to the customer in the most appropriate manner. For this, it is essential to have an effective and efficient marketing strategy. The restaurant business requires to be marketed in a very effective manner. The main goal of marketing is to ensure that a large number of customers get to know about the business.
There are different mediums of marketing that are available today.It is important to recognize the correct medium for the business. We know that social media has grown a lot today. There are different social media platforms that are available that can be used for business purposes like Facebook, Instagram, Twitter and many more social media pages. A logo of the restaurant will be developed that will contain key features of the restaurant and this will be circulated on these social media platforms. Also, the menu will be posted on these websites with online ordering facility so that more and more people can get to know about this. Also, customers would be given free delivery whoever shares the logo of the restaurant to their respective pages.
Further, advertisementson magazines, newspapers, televisions, radios will be given informing the customer about the opening of the restaurant. In each locality, hoarding of the restaurant will also be put which should be medium sized which would be sufficient to capturethe attention of the people crossing that area.
A contingency plan is developed in order to help the company to take a particular course of action in future because of any situation or an event that may or may not arise in the future. Any business can face any type of risk in the future. Therefore, it becomes extremely important to remain prepared to face such situations in the future. The restaurant business that I wish to start would also face certain potential risks in the future.
The two potential risks that the business might face includethat people would stop eating junk or food that would tend to increase the weight. The customers have become too much concerned about their health, which might stop them from coming to the restaurant. The tastes and preferences of the customers have been constantly changing which is a major risk for the company. Also, competition is another risk which might impose a difficult in the completion of the operational plan. As of now, thereis no restaurant in the locality which makes it easier t attract the customers. However, if a new restaurant company comes in a few days then implementation of the operation plan might become difficult.
Both the types of risks are extremely important and therefore, a plan of how to deal with them would help to face them if and when they arise. Only healthyingredients are allowed to be used in order to make the products for diet-conscious customers at the restaurant.
Overall, it can be said that the business is expected to provide good and sufficient returns in the future considering the market and the demand for the restaurant industry.
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