Description
1)How has the material covered in this class helped you prepare for your final project? Which specific content in this class will be applied to your Operational Business Plan? Please explain in no less than two pages and no more than five pages.
2)How has the material discussed in this class relate or apply to your current work environment? Or what aspect of this class has helped you to better understand and perform your current work-related responsibilities? Write a paper to answer in no less than 2 pages and no more than 5 pages.
Please see the attached text book
Explanation & Answer
Attached.
Running Head: OPERATIONAL BUSINESS PLAN
Operational Business Plan
Student Name:
Institution Affiliation:
Date:
OPERATIONAL BUSINESS PLAN
2
Managerial economics has been significantly helpful for the preparation of the final
project. It has allowed for the formation of decision making that is efficient and aided in creating
a final project that is realistic with good profit anticipated. The material is critical in the design of
the project's future, with a strategic plan laid in place with a defined business plan. Further,
different influencing market environment factors such as the available resources in terms of
Labour and capital have been put into optimal use with the aid of the various economic concepts
that define the business decisions complexities and best approaches.
The course material has been essentials in undertaking the production and risk analysis of
the final project; this has helped in determining the effectiveness of the plan and its feasibility in
the current market. The capital budgeting of the project been a critical component has also been
enabled by the material covered in the class; this includes the successful forecast and definition
of the economic feasibility of the project. The supply and demand analysis has also been
covered; it is critical in determining the market forces that influence the project's
competitiveness. These define both the buyer and seller sides of the market that affect the
quantity and costs in the market and how to manipulate them to the project plan (Maurice &
Thomas, 2011).
Specific Content Applied to the Operational Business Plan
Some of the essential contents applied in the operational business plan to make it a
success inclu...