Mgt613 Assignment No. 1 solution
Tuesday, April 12, 2011 Posted In MGT Edit ThisOpening Date and Time
April 11, 2011 At 12:01 A.M. (Mid-Night)
Closing Date and Time
April 15, 2011 At 11:59 P.M. (Mid-Night)
Note: Only in the case of Assignment, 24 Hrs extra / grace period after the above mentioned due date is usually available to overcome uploading difficulties which may be faced by the students on last date.
This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience.
This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience.
Assignment No. 1 Marks: 20
ABC Company is manufacturing leather bags; the company is going to start a new business of producing baby toys with its existing business. You have been appointed as operations manager of the new production plant. You have to fulfill the following tasks:
1. In your views what would be the existing vision statement of the Company. (5)
2. Prepare a mission statement of this new production plant. (5)
3. What factors you will have to take into account to start the new business? (10)
Note: Vision statement and mission statement should not exceed from 2 to 3 lines.
The solution of the whole assignment should not exceed the limit of 400 words.
SOLUTION:
Q#1:
In your views what would be the existing vision statement of the company?
Answer
ABC= The name of the company
Vision is just like an art of watching the things invisible. The vision of the
ABC company is to have such products that are affordable, reliable, safe and
environmentally acceptable. This company is is high degree characterized
and is accountable for successful fulfillment of their company.
Q#2:
Prepare a mission statement for new production plan?
Answer
The mission statement describes the overall purpose of organization. It is the
mission statement of ABC company to develop manufacturing resources and
to provide a product of good quality to their customers. They conduct their
business responsibly to achieve a great financial return which would be
balanced with their long term business growth.
Q#3:
What factors you will have to take into account to start a new business?
Answer
Before starting a new business you should think about the features of the product which you are going to introduce. You must be very well known that why the customers ill get attracted towards your product instead the product of your competitor. You will need a strong research and development department in this regards.
Research and development department should consider the following factors:
Total project cost
Availability of professionals
Availability of labors
Technology
Economy
Experience
Demand in Market
Capital
