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Business Proposal for a Partnership Firm - Assignment Example

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This assignment discusses the organizational structure and the management team of Millimeters which is supposed to be a partnership firm with three partners involved in it. These three would be the owner of the company and would be responsible for managing the company as a whole…
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Business Proposal for a Partnership Firm
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Download file to see previous pages The assignment "Business Proposal for a Partnership Firm" discusses the organizational structure and the management team of Millimeters which is supposed to be a partnership firm with three partners involved in it. They would hold the managerial positions in three separate departments and would work as full-time employees of the company. Luz having experience in the field of procurement and budgeting would be responsible for the same. Christopher having experience in the field of operations management would be responsible for the daily operations and management of the company. The daily scheduling activities related to the store and the future requirements for the store, all would be managed by Johnathan. Apart from these three, other staffs would assist them in their job. The company would also hire specialists in each field of services that are supposed to be offered by the company.
There are no significant weaknesses of the company regarding the technical knowledge and relevant business activities that are required to be performed to run the company successfully. However, the three owners of the company being new in this field of running a home improvement store business can prove to be disadvantageous for the company in managing its resources effectively and efficiently. In due course of time, this deficiency could be overcome easily through increased knowledge of running the business. A well-constructed personnel plan has been developed for the company to help in running the business efficiently....
Personnel Plan A well-constructed personnel plan has been developed for the company to help in running the business efficiently. The three owners of the company, apart from getting a share in the profits of the company will also receive remuneration for their respective managerial functions being conducted in the company. The personnel plan has been as such that it would include the three managers in the form of its owners, on cashier would be handling all business matters concerned with cash inflows and outflows of the company. Initially there would be four specialists meant for four different services to be offered by the company initially and they would be on-duty at all times during the business hours. The supporting staffs and workers would total around 8 to 10, working on an average every day. The personnel plan constructed for the company has been summarized in the table give below (Table - 1). It includes the first five years’ forecasted figures regarding the salaries and wages of the employees of the company. Table – 1 (Personnel Plan)   Year 1 Year 2 Year 3 Year 4 Year 5             Luz Angela Lopez 50,000 55,000 60,000 65,000 65,000 Christopher Mong 45,000 50,000 55,000 60,000 60,000 Johnathan Douglass 40,000 45,000 50,000 50,000 50,000 Specialists 100,000 125,000 150,000 175,000 200,000 Cashier 20,000 22,000 24,200 26,620 29,282 Others 10,000 11,000 12,100 13,310 14,641 Total Payroll 265,000 297,000 339,200 376,620 404,282 Total Personnel 15 18 20 22 22 Financial Analysis Seating up of the About Millimeters business concern would require a significant amount of investment initially. The major portion of this initial funding would be borne by the three owners of the company. ...Download file to see next pagesRead More
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