Write a definition of a contingency plan

Reference no: EM133160541

BSBMGT517 Manage Operational Plan

Assessment

Question 1 Why is it important to develop an Operational Plan for a business venture?

Question 2 List FOUR (4) Key Result areas on which a business should focus.

Question 3 Explain in detail what actions you would take if customers started complaining about the quality of your food. Include customer satisfaction considerations in your answer.

Question 4 What legislation(s) do you need to be aware of when developing an operational plan?

Question 5 Explain how you would recruit select and induct the right staff according to your organisational policies and procedures?

Question 6 Write a definition of a Contingency plan

Question 7 How does a business go about protecting brand names, trademarks and intellectual property?

Question 8 With whom should the operational plan be shared? List all stakeholders who need to be aware of the operational plan.

Question 9 Suggest ways in which an operational plan can be effectively monitored.

Question 10 What financial reports will you require to effectively monitor the implementation of your operational plan?

Question 11 There are many ways to measure the success of your operational plan. Include at least FOUR (4) Key Performance Indicators (KPIs) you would use to measure success.

Question 12 What policies, procedures or practices relate to an operational plan?

Question 13 Describe TWO (2) models and methods you could use to develop an operational plan.

Question 14 How can an operational plan help achieve the objectives your organisation has established?

Question 15 What elements do you need to consider when creating a budget?

Question 16 Analyse and interpret the budget below and calculate the variances.
Suggest ways you could improve each variance.

Mary's food truck
Mary's food truck	Budget and Actual from September 2017

Income	Budget	Actual	Variance
Food sales	$25,000	$31,345
Coffee sales	$12,500	$9,275
Cold drinks sales	$5,000	$8,250
Alcohol sales	$17,500	$19,250


Expenses	Budget	Actual	Variance
Food purchases	$7,250	$9,716
Coffee Purchases	$3,000	$2,318
Cold drinks Purchases	$1,650	$2,723
Alcohol Purchases	$3,500	$3,850
Wages	$18,000	$19,074

Question 17 What are the steps involved in creating a budget for an operational plan?

Reference no: EM133160541

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