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Question
What is the meaning of shipping in the process of operational plan?
Solution
Shipping is a process that describes the flow of goods/services from production to the final consumers.
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RELATED QUESTIONS
Name the factors which affect the operational plan.
Briefly, explain the objectives of operational plan.
What is an operational plan? Discuss its blue print.
You are an entrepreneur who is deciding the operational plan for your business.
While deciding the technology to be used, you come across three alternatives:
a) Use a cheaper technology which lets you dispose of the waste water and lets
you fix the price of your product low.
b) Use a technology that is a little expensive as it lets you recycle that waste water
into water fit for drinking. In this case, you will have to fix the price a little
higher in order to earn profits.
c) Use the technology that recycles the waste, do not change the price. And go
about cost cutting though efficient utilization of resources.
The production plan aims at "plan your work", whereas operations plan ensures "work your plan". In the light of the given statement, examine the relevance of a operational plan for an entrepreneur.
