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Entrepreneurial Planning — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Planning4 Marks
Question
What is an operational plan? Discuss its blue print.
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Answer

An operational plan is a system through which a smooth and coordinated flow of work within the factory is achieved through planning and controlling of all the productive operations in all the stages of manufacture, so that the final product is completed in accordance with the plans. So, basically an operational plan aims at getting the work done by making the persons responsible, allocate resources, set a timeline and stipulate performance indicators.Blue print of an operational plan is as follows:
  1. Allocate human resources (Who is responsible?).
  2. Allocate financial resources (How much budget is required).
  3. Set timelines (When will the task commence and be completed?).
  4. Set performance indicators (What are we aiming to achieve?)
The following example gives the blue print of an operational plan of a club which is conducting a drive to increase membership:
Strategies
Time frame
Person responsible
Budget
Other resources
Conduct visits to colleges
Two visits per week to selected colleges starting from 1st April. The visits should be completed by 30th April.
Development officer Mr Rahul
Salary of Mr Rahul ₹ 20,000 pm and expenses of trailer ₹ 5,000 pm
Purchase of trailer
Advertise major events through print and broadcast media
Advertisements to be placed in newspapers in March, June and September.
Promotions co-ordinator Mr Prakash
Cost of Advertisements ₹ 50,000
  

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