Reference no: EM133836177 , Length: word count:500

DEVELOP AND IMPLEMENT BUSINESS PLANS

Case Study - Ozhouse Clean

Assessment Task 1: Knowledge questions

Provide answers to all of the questions below:

Question 1. Outline three reasons why a company may choose to develop a business plan.

Question 2. Outline the key steps involved in developing a business plan.

Question 3. Outline five common components of a business plan.

Question 4. Outline three areas that the initial business planning process may address.

Question 5. Outline the purpose of a SWOT analysis in a business planning process.

Question 6. Describe the relationship between performance objectives and key performance indicators in a business plan.

Question 7. Explain why it is important for a business to use a range of performance measures within its business plan. Get professional assignment writing service now!

Question 8. If a business plan has an objective of improving customer satisfaction, describe three performance measures that could be used to measure customer satisfaction.

Question 9. Outline key stakeholders who may be involved in business planning.

Question 10. List the information that can be obtained from pre-existing strategic, business and operational plans when writing a new business plan (include at least 5).

Question 11. Identify at least three regulations/permits requirements/licence requirements to consider when initiating a new business activity that may require a permit or licence.

Assessment Task 2: Project Portfolio

Activities
Complete the following activities:

1. Carefully read the following:
This project requires you to develop and implement a business plan. As part of the assessment you, you will:
• analyse and research the aspects of your business relevant to the business plan.
• write a business plan.
• implement the business plan.
• monitor, evaluate and respond to performance relating to the business plan.
Vocational education and training is all about gaining and developing practical skills that are industry relevant and that can help you to succeed in your chosen career. For this reason, we are giving you the choice to base this project on your own business, one you work in or are familiar with, or you can use the case study provided. This will mean that you are applying your knowledge and skills in a relevant, practical and meaningful way to your own situation!

To complete this assessment, you must assume a senior role in your chosen business that contributes towards the effective functioning and success of the business.

It is important that you are able to access enough information for your chosen business in order to be able to do your assessment. As a minimum this should include at least one pre-existing strategic plan, business plan or operational plan.

You will also need information to monitor and evaluate your business plan and the related performance. Take a look at the requirements in Section 3 of your Project Portfolio for more information.

You will need to communicate with stakeholders who are associated with creating your business plan. Your communication may be either directly with actual staff members or fellow students/your assessor can play the roles of relevant people/parties. Communication can be in any appropriate format (e.g. face to face, video conference, email) as long as it meets the requirements outlined in the Project Portfolio.
You will be collecting evidence for this unit in a Project Portfolio. The steps you need to take are outlined below.
 
Preparation

Make sure you are familiar with the organisation you are basing this assessment on and have read through the necessary background information. For the case study business, this is all of the documents included in the Simulation Pack. If it's your own business or a business where you are working or are familiar with, have your business or case study (and supporting documentation/evaluation data) approved by your assessor.

Complete Page 4 of your Project Portfolio for this unit.

Read through the requirements of Section 1, 2 and 3 of your Project Portfolio.

3. Planning for your business plan
Complete Section 1 of your Project Portfolio. To do this, you need to:
• describe the legislative and regulatory requirements relevant to developing your business plan.
• describe the organisational requirements relevant to developing your business plan, including:
o pre-existing strategic, business and operational plans
o existing business vision, mission, values, objectives, goals, financial targets, management arrangements and marketing strategies.
• research the market requirements for your business' products/services/programs (include mathematical information in your research).
• research information relevant to the competitors of your business and business plan (include at least one competitor and include mathematical information in your research).
• research other industry-related information.
• analyse your business (consider the research you've done on the vision, mission, values, objectives, goals, competitors, financial targets, management arrangements and marketing approaches).
Make sure you have answered all questions in Section 1. Submit to your assessor for review.
You are also required to attach certain documents as part of your evidence - review the documents you need to attach as outlined in Section 1 of the Project Portfolio and make sure you attach these when you submit this section.
You will use the work done in this section of the Portfolio to meet with stakeholders, discuss key aspects of your business and develop a business plan.
 
4. Developing your business plan
Meet with at least two stakeholders to develop performance objectives and measures for key aspects of your business. These must include productivity and performance targets for at least three key result areas.
Before meeting with the stakeholders, complete the relevant section in Section 2 of your Project Portfolio to prepare for the meeting.
This meeting should take 30 minutes.
This meeting may take place with actual people who work for/are associated with your chosen business. Alternatively, classmates or your assessor may play the role of one or more team members. This can either be viewed in person by your assessor or you may like to video record the session for your assessor to watch later. Your assessor can provide you with more details at this step. Make sure you follow the instructions above and meet the timeframes allocated. If this session is not viewed in person by your assessor, you will attach proof of the meeting to Section 2 of your Project Portfolio.
As part of the meeting, you are required to demonstrate your ability to:
• lead a team
• facilitate group interaction
• influence the direction of the outcomes of the meeting
• present information/seek advice (using appropriate language, listening to the views of others, asking questions to clarify and confirm understanding).
You will be assessed on this.
Continue completing Section 2 of your Project Portfolio. To do this, you need to:
• develop performance objectives and measures for your business plan (include at least one financial indicator such as revenue).
• identify any licence or permit requirements to be included in your business plan.
• describe your proposed marketing strategy.
• identify financial, human and physical resource requirements for your business plan (at least one each).
• use the work done in this step to develop a written business plan that includes:
o a description of the business
o products and services
o financial, physical and human resources requirements
o marketing strategy
o financial indicators
o productivity and performance targets for key result areas.
Note: Use appropriate business language and terminology.
Make sure you have answered all questions in Section 2. Submit to your assessor for review.
You are also required to attach certain documents as part of your evidence - review the documents you need to attach as outlined in Section 2 of the Project Portfolio and make sure you attach these when you submit this section.
You will use the work done in this section of the Portfolio to implement, monitor and evaluate your business plan and the related performance.

5. Implementing, monitoring and evaluating your business plan and the related performance.
Communicate your business plan to all relevant stakeholders.
If required, attach proof of your communication to your portfolio.
Before communicating your business plan to stakeholders, complete the first question in Section 3 of your Project Portfolio to prepare for the communication.
Also read the second question before communicating your business plan as you may choose to incorporate the confirmation of skilled labour in this step.
Note: You may communicate in any appropriate manner as long as it meets the requirements in the project portfolio and adheres to any organisational policies and procedures. You may need to communicate in different ways to different stakeholders. For example, a face-to-face presentation may be required to present the business plan to the executive team, and a promotional video clip may be used to communicate the plan to other office employees.
Continue completing Section 3 of your Project Portfolio. To do this:
• confirm that skilled labour is available to implement the plan (unless you've already done this as part of communicating your business plan).
Confirmation can take place in any appropriate format (e.g. draft email to HR or other managers confirming employee availability, or a screenshot of a project plan showing skilled labour availability) as long as it adheres to relevant organisational policies and procedures.
Assume a period of time has passed.
If you are basing this on your own business, make sure you have data available to review and evaluate your business plan and related performance. At least one staff member should show signs of underperformance.
If you are basing this on the case study, information is provided in the simulation pack.
Continue completing Section 3 of your Project Portfolio. To do this, you need to:
• test one performance measurement system associated with your business plan (you have already identified ways to monitor performance objectives in Section 2 of your Project Portfolio).
• report failures (system, product and/or services) and variances to your business plan as they occur (make sure your proof shows that you've responded promptly (e.g. dated email etc., updated business plan).
• refine performance measurement systems (if required).
• evaluate the legislative compliance of your business.
• evaluate the key aspects of your business against the planned objectives (if you are using the case study, assume this evaluation takes place three months after the business plan has been communicated to the directors).
• refine performance indicators, if required.
• coach underperforming staff (at least one staff member).
• establish an ongoing review process for the underperforming staff member.
• use the work you've done in this step to write a report on the outcomes of your business plan, including:
o performance of key aspects and objectives of the business.
o strengths and weaknesses of your business plan.
Note: Match the style of your writing to the purpose and audience.

6. Submit your completed Project Portfolio
Make sure you have completed all sections of your Project Portfolio, answered all questions, provided enough detail as indicated and proofread for spelling and grammar as necessary. Remember to submit all necessary attachments as indicated.