Project #48622 - Controls

Instructions

Insert the title: Controls below the "Financial Statements" section in your business plan document. To see an example of a human resources section in a business plan, click Sample Business Plan - Controls.

Write three or four well researched and concise paragraphs (a minimum of 300 words for this section)below your "Controls" heading in your business plan document, describing the business controls you will put place to control quality, customer payment methods, costs, crime, credit collections, and risk, along with how you will use computers in this process, incorporating what you have learned from this week's course materials such as laws affecting your business operations.

Example

Controls

Future Books will help ensure quality service by setting clear standards and provide ongoing employee training, reward outstanding performance with bonuses, promotions, and raises, along with uniformly enforcing all rules and personnel guidelines. A suggestion box will be place at the information desk, encouraging employees and customers to provide recommendations and feedback. 

To minimize costs, management will set clear cost standards, reward employee cost saving behavior, and record progress to help with improving cost saving plans.

To control losses from crime, Future Books will invest in a security system and a comprehensive crime insurance policy covering burglary and robbery, along with losses from theft, destruction and disappearance of money, and glass breakage. In addition, the company will secure fire insurance, business interruption insurance, and life insurance for the owners.  

The company will use a single agent to handle our insurance, avoiding the weakening of responsibility. John Smith will be responsible for our insurance program. He will keep complete records of insurance policies, premiums paid, losses and loss recoveries, along with ensuring that we take all steps possible to prevent losses. An equipment list and a list of leasehold improvements will be kept up-to-date, complete with periodic photographical evidence of stock and improvements. Business property will be appraised periodically by an independent appraiser.

 

A computer system will be purchased to support a commercial Web site, including online purchasing, shipment tracking, and customer support. In addition, the website software will enable blogging and other forms of customer interaction. BookAccent software, specifially designed for bookstore accounting, will be used to record in-store sales, track inventory, and provide point of sale support. John and Mary Smith have years of experience in purchasing and supporting computers and will share responsibility for all aspects of the computer system. They will train employees on its proper use and maintenance. 

Subject Business
Due By (Pacific Time) 11/23/2014 12:00 am
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