Reference no: EM133064720

Assignment - Operational strategy

1. Why are advisors important to you new venture? For two of your business ideas, list who three key advisers will (or might) be. At least one of these people on each list should be someone that you already know.
2. Briefly describe the difference between organisational structures of product, functional, geographic, matrix and hybrid.
3. For two of your business ideas, select one of these structures and create an organisational chart. Briefly explain why you chose this structure and provide a brief role description for three key positions in this structure (regardless of whether you are initially filling one or more of these roles).
4. What are your supply requirements, in terms of nature (i.e. what supplies do you need), quality, timeliness and price. For two of your business ideas list who a key supplier might be.
5. Taking a step back and looking at your business plan, what use could you make of on-line outsourcing for your operations? Select one important task for each business and go to an outsourcing site (e.g. freelancer.com; upwark.com; fiverr.com; mturk.com). What skills can you purchase, and how much do they cost compared to a traditional approach?
6. Following the approach of Hirai (2010), for two of your business ideas list the three biggest ‘company killer' risks; their likelihood, consequences; mitigation tactics; mitigation costs and status (i.e. what would you actually do to manage this risk).
7. According to Rauch and Hatack (2016) what are the three types of HR-motivating practices positively correlated with success of SMEs? How can you use the insights of this research for your own venture?