Reference no: EM132072116
BUSINESS PLANNING& RESOURCE MANAGEMENT
ASSESSMENT ACTIVITY: WRITE& DEVELOP A FORMAL BUSINESS PLAN
BRIEF
Using the Business Plan template provided by your nominated trainer and assessor write and develop a formal business plan for a small business orenterprise nominated by your Trainer and Assessor.
To demonstrate competency you will need to consider in your analysis the capabilities and resources of the new enterprise, vision, mission, trends and developments in the marketplace, comparative market information, and legal and ethical restraints on the proposed business activity.
ASSESSMENT REQUIREMENTS
For this report it is essential that you develop something more than a common-sense approach.
- Your planwill need to be supported by wide-ranging research, providing a strong rationale for changes proposed.
- The business plan or project plan must present a comprehensive and logical position which is followed through with control measures for implementation and review.
- Key benchmarks to address and include in your presentation and business plan are as follows:
- Analyse and interpret business vision, mission, values and objectives
- Analysis of the strengths and weaknesses of a range of business plans
- Implementation of a business plan including evaluation of performance against documented indicators in key results areas. Include information about your productivity levels.
- Consult with key stakeholders(indicate who these will be) to develop performance objectives and measures through consultation with key stakeholders
- Review market requirements for the product or service, profile customer needs and research pricing options
- Identify financial, human and physical resource requirements for the business. Include any training requirements for you or your staff.
- Consider any permits or licenses that may be required for new activity
- Knowledge of performance measurement approaches and benchmarking
- Your business plan will need to cover all core aspects of business planning, including marketing, financial, human resource, risk management and operational planning.
- Legal requirements and insurance issues should be reviewed and corresponding recommendations made for legal compliance embedded in your plan.
- Finally, the business plan should provide a forecast for the long-range direction of the business and its strategic success.
RELEVANT INSTRUCTIONS
1. The analysis and strategy demonstrates a knowledge and understanding of relevant business, management or industry theory.
2. Evidence of critical thinking in preparing the responses for the Business Plan
3. The strategy is incisive and includes a concise, relevant treatment of the issues and addresses the assessment criteria.
4. The strategy critically discusses and analyses the topic, range statement, performance criteria and foundation skills of the unit descriptor
5. Use of language is appropriate to academic writing, the industry context, Business Planning, Marketing, Human Resource Management principles, Financial Planning, Risk Management themes and the assessment criteria
6. The responses are succinctly and clearly written or presented in English.
7. Include in the risk assessment any failures, in either systems or products that may occur.
8. Include some information on environmental impact.
9. Include how you will review the plan as part of your continuous improvement plan
10. Overall presentation is professional including spell and grammar checked judicious use of headings, font size, layout etc.
11. Communicate and collaborate with others in your class, as determined by your trainer, about your plan and any important aspects that you should review. Ensure you understand everybody's points of view in the group allocated to you. Evaluate the views and see where improvements can be made, and adjust accordingly.
All sources are referenced consistently and comprehensively using the recommended referencing system as prescribed in the subject description/outline