Ticket 1 Enterprises (firms) field of activity and its main characteristics

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1. The need for state regulation of the economy.
Regulations are indispensable to the proper function of economies and societies. They create the “rules of the game” for citizens, business, government and civil society. They underpin markets, protect the rights and safety of citizens and ensure the delivery of public goods and services. The ideal goal of economic regulation is to ensure the delivery of a safe and appropriate service, while not discouraging the effective functioning and development of businesses. Regulation consists of requirements the government imposes on private firms and individuals to achieve government’s purposes. These include better and cheaper services and goods, protection of existing firms from “unfair” (and fair) COMPETITION, cleaner water and air, and safer workplaces and products. Failure to meet regulations can result in fines, orders to cease doing certain things, or, in some cases, even criminal penalties. “Economic regulation” refers to rules that limit who can enter a business (entry controls) and what prices they may charge (PRICE CONTROLS). For example, taxi drivers and many professionals (lawyers, accountants, beauticians, financial advisers, etc.) must have licenses in order to do business; these are examples of entry controls. As for price controls, for many years, airlines, trucking companies, and railroads were told what prices they could charge, or at least not exceed. Companies providing local telephone service are still subject to price controls in all states.
2. Operational calendar planning is a way of business management and strategy implementation.

An operational plan outlines the day-to-day activities of an organization at the project, business unit, functional, or department level. They’re tactical. They’re detailed. They involve action! And they’re typically single-use. Operational plans support the strategic plan by laying out an action plan for a particular goal or project. They can also map out how individual business units or departments will contribute to organizational goals.
Typically, operational plans have a short-term time horizon, typically a fiscal year. These plans are created by mid-level management and provide specific answers related to execution: who, what, when, where, and how much. Operational plans serve as a roadmap for daily operations.

• Goal. The goal of operational planning is to support the strategic plan with day-to-day activities and tactical plans that focus on execution. It supports organizational goals through detailed plans for short-term activities related to a specific department, unit, or function.

• Time horizon. Operational planning is done on the short-term, typically yearly, quarterly, or monthly. 

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  Modification and updates. The operational plan undergoes frequent evaluation and pivots, changing every year, quarter, or month.
  
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  Created by. Operational plans are created by mid-level management and department heads. 
  
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  Scope. The operational plan considers internal business environment: Technology, KPIs, budget line items, projects, tasks, and the individuals responsible.