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Describe the different elements of an operational plan. - Entrepreneurship

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Describe the different elements of an operational plan. 

Explain the following elements of an operational plan:

  1. Scheduling
  2. Follow-up
  3. Inspection
Long Answer

Solution 1

Following are the elements of operation plan:

  1. Routing: It is a process which determines the exact path a product has to follow right from raw material till its transformation into finished product.
  2. Scheduling: It means fixation of time, day, date when each operation is to be commenced and completed.
  3. Dispatching: It is the process of initiating production according to pre-conceived
    production plan. It involves issuing necessary orders instructions, guidelines, etc.
  4. Follow-up: It relates to evaluation and appraisal of work performed. A properly planned follow-up procedure is helpful in finding errors and defects in the work.
  5. Inspection: Inspection is the art of comparing materials, product or performance with established standards. This helps to setup laboratories or evolve methods to ensure predetermined quality of product.
  6. Shipping: It describes the flow of goods/services from production to the consumers. It is a detailed presentation by the entrepreneur explaining the chronological steps in completing a business transaction efficiently and profitably.
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Solution 2

  1. Scheduling: In order to guarantee that particular jobs and activities are finished effectively, scheduling entails arranging and assigning them to specific time periods. It's similar to creating a thorough schedule for every task that needs to be completed. It facilitates work organisation so that everyone is aware of their responsibilities and deadlines. For instance, scheduling would dictate when each stage of the production process should take place in order to achieve the ultimate deadline if a business were creating a product.
  2. Follow-up: The process of keeping an eye on and evaluating the status of tasks to make sure they are proceeding according to plan is known as follow-up. This entails routinely assessing if everything is proceeding as planned. Follow-up aids in the early detection of any delays or issues so that remedial measures can be implemented. For example, follow-up guarantees that actions are performed to expedite work that is behind schedule or modify the plan as necessary.
  3. Inspection: Inspection entails assessing and verifying that the completed work satisfies the necessary criteria in terms of accuracy and quality. This is a quality check to ensure that everything is completed accurately and up to par. Before the products are shipped to clients, inspection in a manufacturing process would entail looking for flaws or mistakes. By making sure that any problems are found and resolved prior to the delivery of the finished product, it contributes to the maintenance of high-quality outputs and customer satisfaction.
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Business Plan - Elements of Operational Plan
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Chapter 2: Enterprise Planning - Long Answers (250 words) [Page 88]

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CBSE Entrepreneurship Class 12
Chapter 2 Enterprise Planning
Long Answers (250 words) | Q 2 | Page 88
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