Introduction
The Pump NAB Company aims at providing alternative drinks that do not contain the alcoholic content. Due to health complications, some consumers have shifted their drinking habits to non-alcoholic beverages (Ashurst, 2016). Therefore, the Pump NAB Company has staged its operations to fill this gap in the market. This business plan has four main sections in which the first section introduces the business plan and its structure. The second section provides a detailed operational plan. The operational plan discusses the key aspects of operations, cost and time efficiencies, competitive advantages, problems addressed and their outcomes. The third section provides a detailed discussion of the Pump NAB’s technological plan. The technological plan section discusses the software needs, hardware needs, telecommunication needs and the personal needs. The fourth section discusses the management plan in detail. The management plan covers the company's management style, personality of employees, teamwork, company policies, non-monetary recognition and employees' participation.
Operation Plan
Key Aspects of Operations
The Pump NAB Company’s key operations will include the production of its Pump brands, marketing and distributing the products. Therefore, the company will require production facilities such as Vats, Refrigerators, Burners, Ovens and the equipment for bottling. Additionally, the company will require transportation vans and marketing offices in various locations to ensure that it reaches the potential customers easily. Therefore, besides the production and marketing equipment, the company will require the marketing taskforce. Various employees will be deployed to work in the production facility to ensure that the required quality is attained. Since the initial cost of the mentioned production and transportation equipment are costly, the company will consider renting them for one year. However, after the company has made enough cash, it will later consider purchasing its equipment. The company will also consider renting the business premise for the first two years of operations before it establishes its structures. Table 1 provides an estimate of the cost of renting the equipment for the first year and the cost of labor.
Source: Author
Cost and Time Efficiencies
Competitive Advantages
Competitive advantage is vital to the success and existence of any company (Blank, 2013). The Pump NAB Company will maximize on its managerial expertise to ensure that it delivers high-quality NAB drinks into the market. Additionally, the company will invest heavily in research and development (R&D). The R&D will help the production team to understand the changing customer preferences and tastes. Understanding the changing customer tastes and preferences will help the company to incorporate the latest technology and innovations in production to satisfy the customer needs ahead of the competitors (Blank, 2013). Additionally, the company will outsource the complicated production processes to save time and increase the level of efficiency. Besides the common Pump brands, the company is currently developing the branded sugarless beverages to address the issue of diabetes. The introduction of the sugarless non-alcoholic drinks is likely to help the company to acquire a larger market share. Therefore, the Pump NAB Company is likely to have a competitive advantage because it has invested heavily on R&D. Additionally, the company is developing a sugarless beverage which is a new product in the industry.
Problems Addressed and Outcomes
Nowadays, there are various lifestyle diseases linked to the way people eat and drink. Additionally, drinking alcohol has been linked to various health complications. Besides alcohol, the consumption sugary products has contributed to diabetes. Therefore, the Pump NAB Company intends to solve the mentioned health challenges. Therefore, the company will specialize in the production of non-alcoholic drinks and develop sugarless non-alcoholic drinks. With this regard, the production of the non-alcoholic and sugarless beverages will greatly improve the health of the consumers.
Technology Plan
Software Needs
The current and future business operations are quickly changing due to the advancement of technological innovations. Any business entity that does not keep up with the changing technology will be rendered uncompetitive (Blank, 2013). To match up with the changing trends in business operations, the Pump NAB Company will make use of the latest technological software in the accounting department, employee management, and inventory management among other key areas. For instance, the accounting software that will be installed by the company will include quick books, sage, pastel and simply accounting. The accounting software will fasten the payroll processes, financial analysis, and the monitoring financial performance. To monitor inventory control, the company will install an inventory software. The inventory software will help in ensuring that the level of inventory is maintained as desired by the company. The HR will also install human resource information systems (HRIS) software to monitor the progress of its employees. The total cost of software purchase is likely to be $1,500.
Hardware Needs
The hardware equipment that will be required by the company includes the 15 CPUs (Central Processing units, 15 keypads, 15 monitors (TFTs). The hardware equipment is likely to cost the company $ $20,000.
Telecommunication Needs
Communication is vital in the organization, and the Pump NAB Company will ensure that it has in place the best communication equipment. For instance, the company will install internet servers, telephone equipment, and the CCTV cameras to enhance security. The telecommunication equipment will cost $4000. The company will ensure that each employee has access to the communication equipment to facilitate faster coordination.
Personnel Needs
The Pump NAB Company will ensure that it has expertise in software, hardware, and telecommunication to ensure the smooth running of the operations. For instance, the company will employ five information technology (IT) experts to ensure that both the software and hardware equipment are well maintained. The personnel at the accounting department will be conversant with the accounting software while those in the stores will be conversant with the inventory software. Additionally, the telecommunication expert will be deployed in the IT department to ensure that there are no unnecessary disruptions in the flow of communication in the company. The company intends to spend $15,000 in the first financial year. Putting in place the right personnel who are conversant with the changing technology will help the company to adopt any new developments while maintaining the company’s operations.
Management Plan
Company’s Management Style
The Pump NAB Company intends to employ democratic management style in which all employees will be involved in the process of making the decisions that affect the operations of the company. The company's corporate culture is to incorporate and appreciate each employee, customers, and other key stakeholders. The democratic leadership style makes employees feel that they are part of the company. However, management will have the final decision but the input of the employees will also be factored in the final decisions.
Personalities of the Key Employees
Before recruitment is completed, the HR department will ensure that the incorporated individuals’ personality complement the company’s management style. For instance, some of the key traits of the key employees include honesty, hard work, punctuality, responsibility, socially interactive and loyalty. These attributes are vital because the employees are required to provide their input during the process of making decisions. Additionally, the company’s culture incorporates and appreciates all the stakeholders. The management style is democratic, and each stakeholder has an opportunity of making important contributions regarding the operations of the company (Schaper et al., 2010).
Teamwork
The Pump NAB Company will encourage the formation of groups among the employees to perform various functions. The performance of the groups will be regularly reviewed and evaluated. The best performing groups will be awarded. The worst performing groups will be integrated with the best-performing groups to improved performance and productivity.
Company Policies
The Company has in place appropriate rules and policies governing recruitment, compensation, employee benefits, termination terms, suspension terms and promotion. When new employees are recruited, the HR department orients them with the company’s policies to ensure higher levels of compliance. In the case of any changes, the company will use its established communication channels to update all the employees and other stakeholders.
Communication with Employees
Acknowledging Employees
Employee motivation greatly depends on how management acknowledges its employees. The NAB Company will put in place mechanisms in the HR department to ensure that it provides the best compensation strategies. Additionally, the best performing employees will be recognized and rewarded with promotions, bonuses, and other related benefits.
Non-monetary Recognition
The Pump NAB Company is aware that money is not the only motivating factor. The company will put in place measures to ensure that the working environment is conducive. The company will also ensure that employees are regularly trained to improve their productivity. Additionally, those employees willing to further their studies will be supported by the company. Therefore, the company will value the non-monetary recognition to improve the level of productivity.
Soliciting Employees suggestions
As noted earlier, the company will employ the use of democratic management style in which all employees will be given an opportunity to participate. Therefore, employees’ suggestions will be taken into consideration before any major decision affecting the company’s operations is made.
Enforcement of Policies
The company’s policies will ensure fair treatment of employees and equality. However, the highly performing employees will be given special rewards to motivate them to continue exploiting their potential. Those employees who do not meet the expectations of the company will be mentored and trained until they attain the required attributes.
Conclusion
The Pump NAB Company's operational, technological and management plan is tailored towards the achievement of its both short-term and long-term goals. For instance, the operational plan aims at reducing production costs, ensure time efficiency and create a competitive advantage for the company. The technological plan ensures that the company is conversant with the changing trends in the business operations. The management plan also ensures that the company has put in place the appropriate strategies to monitor employees and overall operations of the company.
6 References
Ashurst, R. (2016). Chemistry and technology of soft drinks and fruit juices. John Wiley & Sons.
Blank, S. (2013). Why the lean start-up changes everything. Harvard Business Review, 91(5), 63-72.
Neck, M., & Greene, P. G. (2011). Entrepreneurship education: known worlds and new frontiers. Journal of Small Business Management, 49(1), 55-70.
Schaper, M., Volery, T., Weber, P., & Lewis, K. (2010). Entrepreneurship and small business.
