Unggayan, Joanarhel F.

BSBA FM 3-10s

ASSESSMENT:
1. What is your understanding of a good business plan?
Every entrepreneur needs to have a viable business plan before starting up a
business. It may just be a written document, but it’s important to note that the business
plan is expected to be detailed as it will serve as a guide or the roadmap of the business
to direct where it should be going. Being specific and realistic is also a factor, the business
plan should clearly define all stages of business from its structure, operations, and growth.
A good plan needs to have all information including executive summary and sections on
products and services, marketing strategy and analysis, financial planning, and a budget.
Of course, planning should consider all aspects of the business together with its inside
and outside factors to ensure that it will generate desirable profits or sales.
2. How does supply chain and logistics work?
Supply Chain and Logistics cover different stages of operation but have related
activities performed. What differs between them is that supply chains are responsible for
the overall sourcing, processing, and delivery of goods to the end customer, while logistics
specifically focuses on moving and storing goods in the supply chain. That said, supply
chain is broad and oversees the connection of suppliers, manufacturers and distributors
until it reaches customers. With logistics, it is just a sub-part of the supply chain that takes
charge with the movement of products or resources in a smooth, timely, cost-effective and
a reliable manner.
3. Why is there a need for manpower planning?
Manpower is extremely important with the operation of a business. It is the
workforce that is responsible with the day-to-day activities and the right human resources
should be designated in order for the goals of the organization to be met. That said,
manpower planning should be done to develop strategies that will increase productivity
and manage personnel effectively. It is about utilizing the strengths of different workers
and putting them together with the right role. Generally, it’s importance relies on taking
steps to ensure that the supply of people and skills meets demand.