Milestone Seven: Management Plan In 9-3 Final Project

Milestone Seven: Management Plan in 9-3 Final Project

In this assignment, you are required to develop a comprehensive management plan for your business project as part of the final course requirements. The management plan should clearly identify the governance structure responsible for overseeing the operational aspects of your business. Additionally, you must specify the type of ownership structure that will be used for your enterprise. Furthermore, the plan should include an organizational chart that delineates the company’s hierarchy, including position titles, brief descriptions of responsibilities and duties, and proposed salary ranges for each key role.

This milestone serves as a foundational element of your final project and contributes to the overall grading through the Milestone Submission component of the Final Project Rubric. It is important to focus on providing detailed, well-organized information that demonstrates a thorough understanding of management structures and organizational design.

Paper For Above instruction

Developing an effective management plan is crucial for the success and sustainable growth of any business. This plan acts as a blueprint of how the organization’s operations are governed, how ownership is structured, and how responsibilities are distributed among personnel. In this paper, I will outline the governance structure, ownership type, and organizational chart for a hypothetical enterprise, illustrating how these elements work together to facilitate smooth operations and strategic development.

Governance Structure

The governance structure of a business determines how decisions are made, who has authority, and the framework within which the business operates. For this project, I have chosen a hierarchical governance model, which is suitable for small to medium-sized enterprises seeking clear lines of authority and streamlined decision-making processes. This structure involves a Board of Directors overseeing the top management, with operational decisions delegated to executive officers such as the CEO, COO, and other senior managers. This setup ensures accountability, strategic oversight, and effective control over the organization’s direction.

Ownership Structure

The ownership structure selected is a limited liability company (LLC). An LLC combines the operational flexibility of a partnership with the liability protection of a corporation. It allows the owners, or members, to limit their personal liability for business debts and obligations while maintaining pass-through taxation, which can be advantageous for initial startups and growing enterprises. The LLC structure also provides flexibility in management and profit distribution, aligning with the company's strategic goals and operational needs.

Organizational Chart and Roles

The organizational chart of the business is designed to ensure efficient management and clear delineation of responsibilities. At the top is the Chief Executive Officer (CEO), responsible for overall strategic direction, stakeholder relations, and major decision-making. Reporting to the CEO are the Chief Operating Officer (COO), responsible for daily operations and process management; the Chief Financial Officer (CFO), overseeing financial planning, budgeting, and reporting; and the Chief Marketing Officer (CMO), managing branding, advertising, and customer engagement. Each of these executive roles supervises respective departments and teams.

The management team will include department managers, such as Sales Manager, Human Resources Manager, and Product Development Manager, each with defined responsibilities. For example, the Sales Manager will develop sales strategies, lead the sales team, and target market expansion. The proposed salaries are based on industry averages and regional standards, with the CEO earning an annual salary of $150,000, the COO $120,000, the CFO $130,000, and the CMO $110,000. Department managers will be compensated with salaries ranging from $70,000 to $90,000, depending on experience and role scope.

The organizational chart visually represents these relationships, illustrating the flow of authority and communication pathways. This structure supports operational efficiency, facilitates strategic alignment, and promotes accountability within the enterprise.

Conclusion

Creating a detailed management plan encompassing governance, ownership, and organizational structure is vital for launching and sustaining a successful business. The hierarchical governance model, LLC ownership, and well-defined organizational hierarchy proposed in this plan provide a solid foundation for operational control, legal protection, and strategic agility. Such planning ensures clarity in roles, effective management of resources, and the ability to adapt to changing market conditions. This comprehensive approach prepares the enterprise for growth, stakeholder confidence, and long-term success.

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