Reference no: EM131088752

Module description

This module describes the skills and knowledge required to run a business operation and covers the steps required to develop and implement a business plan.

It applies to individuals who are running an organisation or who take a senior role in determining the effective functioning and success of the organisation. As such, they may oversee the work of a number of teams and other managers..

Learning outcomes

Upon successful completion of this module, students should be able to:

- analyse and research business vision, mission, values, objectives, goals, competitors, financial targets, management arrangements, marketing approaches and strategic, business and operational plans

- write a business plan which includes a description of the business, products and services, financial, physical and human resource requirements, permit and licence requirements, marketing activity, financial indicators, productivity and performance targets for key result areas

- implement a business plan including ensuring skilled labour is available, and that training is provided where appropriate

- monitor and respond to business performance including evaluation of performance against key results indicators including profit and loss, community awareness or branding, environmental impact, governance, quality, sales, triple bottom line and the workforce

- consult, communicate with and report to key stakeholders including business partners, financiers, customers, staff and technical advisers

- provide an analysis of the strengths and weaknesses of a business plan

Assessment Task 1: Project

Instructions:

This Assessment Project is to be completed in addition to the learning and assessment tutorial activities you complete in class during the course.

This Project evaluates a number of elements of competency that will assess your knowledge and skills in developing and implementing a business plan

Overview of Assessment Project

This project is made up of 4 parts:

1. Develop business plan
2. Develop business plan
3. Monitor performance
4. Respond to performance data

Project Overview

In this project you will be required to work as a senior manager within a fictitious organisation called the International Hotel Group (Appendix 1). You will be required to develop and implement a business plan at a time where your organisation is considering substantial expansion into new markets.

Part 1 Develop business plan

You will need to access information about the organisations:
- current strategic directions
- vision, mission, values and objectives

Task 1
Prepare a report summarising the key information you will need to consider when writing the business plan for the organisation or department within the organisation. You will need to include the following:
o a review the organisation's strategic, business and operational plans, if available
o analysis of the organisation's business vision, mission, values and objectives
o information from consultation with key stakeholders (If completing this activity in the classroom, your fellow learners and trainer can represent key stakeholders)

Task 2
Prepare a report on the marketing requirements for at least 2 products or services of the organisation or new business venture for the organisation. Include a:
o Profile of customer needs
o Summary of researched pricing options

Part 2 Develop business plan

Task 1
Develop a set of performance objectives and measures for at least 2 products or services or a new business venture of the organisation through consultation with key stakeholders.

Task 2
Write a business plan for the organisation or department within the organisation. Include the following information:
o Executive summary - a one page overview written after your business plan is finalised
o Description of the business
o Business products and services
o Marketing analysis
o Marketing plan
o Financial, human and physical resource requirements
o Financial indicators
o Productivity and performance targets for key result areas for the business

Part 3 Monitor Performance

Task 1
a) Run a communication session to discuss your business plan with all relevant parties. (If completing this activity in the classroom, your fellow learners can represent relevant parties)
b) Discuss the process you used to ensure all parties understood the performance requirements and timeframes.

Task 2
a) Write a report outlining the process you will use to:
o ensure that skilled labour is available to implement the business plan
o test the performance measurement systems you will be using to support your business plan
o ensure reports on business activity are available, user friendly and include a balance of financial and non-financial performance
b) Develop a pro-forma to be used to report system failures, product failures and variances to the business as they occur. Describe how you would use this pro-forma.

Part 4 Respond to performance data

Task 1
Analyse performance reports against the planned objectives in your business plan. Comment on:
o Performance against objectives
o Factors contributing to underperformance (if appropriate)
o Usefulness of performance indicators
o Suggestions for refinements of business activities or performance indicators
(If using included case study please refer to notes on summary of performance)

Task 2
a) Conduct a coaching or training session with an individual or group to address a factor contributing to underperformance. (If completing the project in the classroom, this task can be role-played)
b) Report on the effectiveness of this coaching or training intervention.

Task 3
Describe the continuous improvement process you will use to review the system processes and work methods used in support of your business plan.

Assessment Task 2 Class Test

TOPIC

1 - Overview of subject
- Assessment set
- Elements of business plan

2 - Review and evaluate pre-existing strategic, business and operational plan
- Analyse and interpret the business mission, vision, values and objectives
- Review assessment progress

3 - Review market requirements, profile customer needs and research pricing options
- Develop performance objectives and measures
- Review assessment progress

4 - Identify financial, human and physical resource requirements for the business
- Legal requirements
- Writing the business plan
- Review assessment progress

5 - Communicating the plan
- Reports on performance (financial and non-financial)
- Analysing performance
- Review assessment progress

6 - Report failures and variances to the plan
- Underperformance
- Coaching and training

7 - The completed plan
- Continuous improvement
- Revision

8 Assessment Task 1 due
- Presentation of business plans

9 - Presentation of business plans

Assignment as a Oaks Hotels - Please mention the details of Oaks Hotel.

Attachment:- Develop and Implement a business plan.rar