Reference no: EM132996240

BSBMGT616 Develop and implement strategic plans

Assessment 1 - Written Questions

1 Outline how the following legislation, regulations and codes of practice are relevant to an organisation's strategic plan. Respond in no more than 200 words in total.
a. Work Health and Safety Act 2011 (WHS Act)
b. Fair Work Act 2009 and the Fair Work Regulations 2009.
c. Anti-discrimination legislation and ethical principles contained in the following federal legislation:
• Age Discrimination Act 2004
• Disability Discrimination Act 1992
• Racial Discrimination Act 1975
• Sex Discrimination Act 1984

2 Briefly explain strategic risk management and outline the steps involved in the process in no more than 200 words.

3 Explain the following risk factors relevant to strategic planning and how an organisation can manage these risks, in no more than 200 words each:
a. Intellectual property rights and responsibilities
b. Regulatory risks

4 Briefly describe the following methods used in strategic planning, using at least one example for each factor, in no more than 250 words each.
a. Political, economic, social and technological (PEST) analysis
b. Strengths, weaknesses, opportunities and threats (SWOT) analysis

5 Outline the process for developing or revising organisational values, in no more than 200 words.

Assessment 2 - Project 1 - Analyse organisational strategy requirements

Scenario

CrossFit Endurance is a group of CrossFit gyms in the Brisbane CBD and inner south of Brisbane. Their branches are as follows:
• CrossFit Endurance Brisbane CBD
• CrossFit Endurance Fortitude Valley
• CrossFit Endurance Indooroopilly

In FY 2020, the company successfully added a new program called Mindfully Fit, to be offered at all CrossFit Endurance gyms.

Unlike the company's previous core offering of pure CrossFit, Mindfully Fit combines some elements of CrossFit, such as frequently varied functional training, with modalities such as yoga, mobility training, and mindfulness based exercise, to provide a less intense training program. Mindfully Fit is also aimed at an older target market than CrossFit. However, the program is open to clients of all ages.

With Mindfully Fit, the company has grown its client base, and its target market is now more varied than it was before.

The success of Mindfully Fit has prompted the owners of the company, Vanessa Choi and Arvin Krishnan, to consider incorporating more community based programs in the future. The company wants to make functional training and the pursuit of good health and fitness accessible to even more people.

Some tactics that the owners are considering, to move in this strategic direction, are:
• offer new programs for diverse types clientele who are not currently being targeted by CrossFit Endurance marketing, such as new parents, children, people with disabilities or chronic illnesses, etc.
• fulfil corporate social responsibility by actively participating in the local communities
• embrace strategic alliances and collaborative ventures to support these new endeavours
• continue to maintain high levels of safety, and currency of staff knowledge and skills You are the recently appointed Business Development Manager.
As the new Business Development Manager, you have been given the task of developing a strategic plan for 2021 - 2022, for CrossFit Endurance.

The company has never had a separate strategic plan - strategic goals and opportunities have always been incorporated in the business plan, which is updated periodically.

However, the owners of the company would now like to adopt a more systematic approach to strategic planning and growth.

Part A: Role play - Confirm vision, mission, and values

Review the scenario above, and the organisation's vision, mission and objectives from the CrossFit Endurance Business Plan Extract 2019 in Appendix A.

Make notes on the following, based on your understanding of the Business Plan, in preparation for a meeting with business owners:
• the current vision and mission statements of the organisation as given in the business plan
• changes in the strategic direction of the organisation
• a proposal for the following, based on the information in the scenario:
o a new mission statement
o a new vision statement
o up to 5 new organisational values to support the new vision and mission statements you have developed

Then, conduct a meeting with Vanessa Choi and Arvin Krishan, the owners of CrossFit Endurance.

During the meeting, you must:

a. confirm your understanding of the current vision and mission of the company and discuss and confirm with the business owners if the vision and mission are still held to be current

b. propose changes to mission statement and vision statement that you have identified, based on strategic direction of organisation, and gain agreement from business owners

c. propose the 5 organisational values for the business that you have formulated, obtain feedback from business owners on these, and collaboratively finalise 3 values that are most relevant the revised vision and mission statements

d. confirm your understanding of the strategic direction of the organisation, and obtain the support of the business owners to commence the planning process in this direction

This is a role play. Your assessor will organise two volunteers to play the roles of Vanessa Choi and Arvin Krishnan. Volunteers will be given cue cards to guide their participation in the role play. You must play the role of the Business Development Manager.

Part B: Research internal and external environment

Based on the organisational mission, vision and values as agreed in the meeting with the business owners, you must identify business opportunities for CrossFit Endurance to steer the company in its new strategic direction.

In order to identify these opportunities, you must have a clear understanding of the internal and external environment of CrossFit Endurance.

Research and prepare an environment analysis report for business owners. In your report, you must:
a. Identify four types of information that you will need to successfully analyse the internal environment of CrossFit Endurance, and identify at least two sources for each type. Organise your response in the following format:

b. Identify six types of information that you will need to successfully analyse the external environment of CrossFit Endurance, and identify at least two sources for each type. Organise your response in the following format:

c. Conduct and record the outcomes of a PEST (political, economic, social, and technological) analysis for CrossFit Endurance, in a global and national context. In your analysis, you must consider world-wide factors which may impact the long-term strategic direction of the business. Include a reference list of the information sources you have used in your PEST analysis, in APA reference list format, at the end of the report.

d. Identify three competitors (one each in Brisbane CBD, in or around Fortitude Valley, and in or around Indooroopilly) who are currently offering the types of products and services that CrossFit Endurance could offer in the future, based on its strategic direction. Think of what CrossFit Endurance wants to do, and identify competitors who are already doing that, and could potentially be the company's main competitors.

e. Conduct a new SWOT analysis of CrossFit Endurance, in the context of the strategic direction, the new vision, and the new mission that the company has decided to adopt. In your SWOT, you must identify at least two points in each section.

Use the extract of the CrossFit Endurance Business Plan Extract 2019 in Appendix A, and conduct your own further research to complete your SWOT.

Organise your response in the following format:

Part C: Role play - Consult business expert

Conduct a meeting with a fitness industry consultant from Fitlife Business Consulting. Fitlife specialises in consulting individuals and businesses in the Australian Fitness Industry, and provides a suite of services including:
• Business development consulting
• Marketing consulting
• Program and skills development workshops
• WHS and compliance consulting

During the meeting, you must:
• Summarise the PEST analysis you have conducted, and identify its potential impact on the business - e.g. "the political situation is likely to affect us in this way..."
• Check the consultant's agreement with your PEST analysis and potential impact analysis
• Provide the consultant with an overview of the strategic direction of CrossFit Endurance
• Seek the consultant's input on methods to identify business opportunities to fulfil strategic direction
• Make detailed notes of the consultant's feedback and input

Part D: Role play - Consult internal stakeholder about environment analysis and opportunities

Conduct a meeting with operations manager Vanessa Choi (who is also a co-owner of the business) to discuss your competitor analysis and SWOT analysis, and check that your analyses are consistent with her perspective.

During the meeting, you must:
• Identify the three competitors you have selected, and reasons for selection
• Check the operations manager's agreement with your selection
• Discuss the SWOT you have prepared
• Check the operations manager's agreement with your assessment of the organisation's SWOT in the context of strategic direction
• Discuss with Vanessa the input given by the Fitlife Consultant about strategic opportunities CrossFit Endurance could pursue
• Seek feedback and obtain approval to explore the suggestions made by the Fitlife consultant

Part E: Analyse suitability of cooperative ventures

Prepare a comparative report on the two cooperative venture proposals you have received, selecting one venture to pursue.

Your report must contain the following analyses:
a. for each proposal, an analysis of alignment with CrossFit Endurance's new vision, mission and values
b. cost benefit analysis of each proposal
c. 2 strengths and 2 weaknesses of each proposal
d. risk analysis of each proposal, identifying at least 2 risks for each proposal (using the Risk Analysis Template in Appendix C)
e. an analysis of the sufficiency of information that can be provided by each potential collaborator, from a due diligence perspective
f. based on the above analyses:
o a recommendation to pursue one joint venture that is the best fit for CrossFit Endurance's, with the lowest risk score
o a justification for the recommendation

Assessment 3 - Project 2 - Develop strategic plan

Part A - Prepare strategic plan

I. Based on your understanding of CrossFit Endurance business background and strategic direction, prepare a strategic plan to guide the company's business over 2020 - 2021.

In your plan, you must:

a. state the organisation's:
o new vision
o new mission
o values

b. briefly describe the organisation's background, including:
o product profile
o management profile
o change in strategic direction
o SWOT analysis

c. research and describe at least two key trends and forecasts for the fitness industry in Australia, and identify how these are significant to CrossFit Endurance

d. formulate 2 objectives that the business must achieve at the end of the strategic plan period - i.e. by 2021 - these objectives may be financial in nature, or a mix of financial and non-financial - objectives must follow the S.M.A.R.T principle

e. based on your research, identify one strategy to achieve each objective - strategies must be business or marketing opportunities, including the collaborative venture you have identified in Part E; there may be common strategies across objectives, but they must relevant to the objective

f. for each strategy, identify:
o at least 1 KPI related to sales, membership numbers or stakeholder satisfaction
o timeframe for completing strategy
o monitoring schedule (at least two points during the strategy implementation timeline when KPIs will be monitored)

g. identify stakeholders responsible for achieving KPIs and strategic objectives, and stakeholders responsible for monitoring KPIs - you must divide responsibilities between the owners, Indooroopilly Centre Manager and yourself as the Business Development Manager

You may use the CrossFit Endurance Business Plan Extract 2019 in Appendix A, and readings provided to you in Appendix B to complete some sections of the plan. However, you must also conduct your own further research into the trends and future of the Australian fitness industry, and opportunities and strategies to achieve objectives.

At the end of your strategic plan, you must include a reference list of the research sources you have used in your plan, organised in APA reference list format.

You must ensure that your plan uses business language and correct grammatical structures.

II. Once you have prepared your strategic plan, you must submit it by email to the owners of the business for their review and approval.

Prepare a cover note addressed to the owners of CrossFit Endurance, to send along with the strategic plan.

In your email, you must:
• Provide a brief overview of the objectives and strategies (50-60 words)
• Identify the research process used to develop the plan
• a request to owners to provide feedback and advice on the plan
• a request for support and endorsement from the owners, for the plan Your email should be no longer than 150 words in total.

Part B: Role play - Present strategic plan

Assume that the owners of CrossFit Endurance have endorsed the strategic plan you have prepared.

You must now present the plan to the owners, Vanessa Choi and Arvin Krishnan, and the Centre Manager for Indooroopilly, Maria Lorenzo.

In preparation for the presentation, develop PowerPoint slides which describe:
• the strategic objectives
• strategies to achieve objectives
• KPIs for objectives
• timelines
• personnel responsible for implementing strategy
• personnel responsible for monitoring strategy

Then, make the presentation to the stakeholders, and:
• brief stakeholders on their responsibilities for implementing and monitoring the strategic plan
• confirm that stakeholders have understood their responsibilities

This is a role play. Your assessor will organise three volunteers to play the roles of the stakeholders Vanessa Choi, Arvin Krishnan, and Maria Lorenzo. The volunteers will be provided with cue cards to guide their participation in this role play.

You must play the role of the Business Development Manager.

Assessment 4 - Project 3 - Evaluate strategic plan

Scenario

For the purpose of this assessment task, assume that you had established the following objectives and strategies, which were endorsed and implemented by the owners of CrossFit Endurance:

You conducted a meeting with the Practice Manager of Family Health Medical Clinic to identify reasons for the low conversion rate.

During the meeting, you informed the Practice Manager that you even offer one free no- obligation workout session to every prospective client referred by the clinic.

The Practice Manager informed you that while the referring doctors stress the importance of exercise to clients during referral, and generally select clients who would be able to handle a formal exercise program scaled to their abilities, the practice cannot guarantee that all referrals will convert.

She also reported that the feedback from client they referred was that while they enjoyed the free session, they did not feel that they could commit to a gym membership.

Task: Evaluate performance of strategic plan and strategic planning process

Review the half yearly performance of the strategy given in the scenario above.

Prepare an evaluation report of the strategy, as part of the 6-month review of your objectives. In your report, you must:
a. describe the performance of each of the strategies towards achieving the strategic objectives

b. identify whether current strategies can be used to achieve organisational objectives within original timeframe

c. what are the reasons for unsatisfactory performance of the plan? (at least 1)

d. for each objective, discuss the following:
• are there any challenges that CrossFit Endurance must overcome to achieve objective?
• is the objective, strategy and KPI realistic and achievable?
• is the scheduled timeframe realistic?

e. refine the objectives, strategies, timeframes, KPIs, monitoring schedules and responsibilities based on the outcomes of your evaluation; you may propose new objectives, strategies, timelines or KPIs to improve performance

f. based on your review of the effectiveness of the plan, and reasons for performance, identify 2 improvements you can make to the overall strategic planning process

Attachment:- Develop and implement strategic plans.rar