10 Nov The Planning FrameworkEdward Ortez has just opened
The Planning FrameworkEdward Ortez has just opened a company that imports fine ceramic gifts from Mexico and sells them over the Internet. In planning his business, Ortez did the following.1. Listed his expected expenses and revenues for the first six months of operations2. Decided that he wanted the company to provide him with income for a good lifestyle and funds for retirement3. Determined that he would keep his expenses low and generate enough revenues during the first two months of operations so that he would have a positive cash flow by the third month4. Decided to focus his business on providing customers with the finest Mexican ceramics at a favorable price5. Developed a complete list of goals, objectives, procedures, and policies relating to how he would find, buy, store, sell, and ship goods and collect payment6. Decided not to have a retail operation but to rely solely on the Internet to market the products7. Decided to expand his website to include ceramics from other Central American countries over the next five years Match each of Ortiz’s actions to the components of the planning framework goal, mission, strategic objectives, tactical objectives, operating objectives, business plan, and budget.
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