Develop and implement business plans

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Reference no: EM133006187

BSBOPS601 Develop and implement business plans

Assessment Task 1

The questions focus on the knowledge evidence required for this unit of competency:

• organisational and legislative frameworks required for the development of business plans, including:
o pre-existing strategic, business and operational plans
o business vision, mission, values and objectives
o permits or licences that may be required for new activity
• processes for developing and monitoring business plans
• customer needs and budgeting information
• performance objectives and measures, including key results indicators
• stakeholders involved in the development of business plans.

Question 1

Outline the organisational and legislative framework for the development of a business plan for a generic company.
Address the following:

Why would you consider pre-existing strategic, business and operational plans?
What inputs would you gather from them? Identify 4-5 in your discussion.
(100-150 words)
What inputs do business vision, mission, values, and objectives provide?
Identify 4-5 in your discussion.
(80-120 words)
Why would you check permits or licences that may be required for business activities?
Provide a practical example from a business you are familiar with in your discussion.
(100-150 words)

Question 2

Outline the process of developing a business plan for a generic organisation and monitoring the implementation of the business plan.
(150-200 words)

Question 3

Think about a business that you are familiar with. Assume that you are developing a business plan for this business.
Address the following:
• Outline four (4) customer needs and three (3) budgetary considerations/information when developing the business plan.
• Identify four (4) SMART objectives for the business plan, including two (2) KPIs for each objective.
• Determine three (3) stakeholders (individuals or groups) that you would involve in developing the business plan. Explain why you chose those stakeholders.

Factor

Customer Needs
(80-120 words)
Budgetary considerations/information
(80-120 words)
SMART Objectives and KPIs

Stakeholders
(80-120 words)

Assessment Task 2

Demonstrated ability to:
• Identify organisational and legislative frameworks relevant to the development of a business plan
• Review market requirements for the organisation's products and service
• Identify and assess business requirements, objectives, competitors and established plans
• Develop performance objectives and measures for business plan in consultation with relevant stakeholders

Develop a business plan

You are a Business Development Manager, recently employed by ABC Contact Services Pty Ltd (Refer to Appendix 1).

The Managing CEO of the company asked you to:
• Review the current business operations
• Conduct an internal and external business analysis
• Develop a draft business plan and consult with stakeholders before you finalise it
• Review the implementation of the business plan

This task will focus on reviewing the business environment and writing the business plan.

Please refer to Appendix 1 - Scenario and Appendix at the end of this assessment document to complete this task.

This task comprises of the following assessment methods:
o Product-based
o Direct observation of Role-Play
o Case Study
o Other (specify)

It has been designed to evaluate your ability to/competency in:

• Identify organisational and legislative frameworks relevant to the development of a business plan
• Review market requirements for the organisation's products and service
• Identify and assess business requirements, objectives, competitors and established plans
• Develop performance objectives and measures for a business plan in consultation with relevant stakeholders
• Identify financial, human and physical resource requirements for the business
• Develop business plan
• Communicate the business plan to all relevant stakeholders
• Test performance measurement systems and refine, where required
• Provide an analysis of the strengths and weaknesses of the business plan

Your assessor will be looking for demonstrated evidence of your competency in the above.

You are required to address the following:
• Task 2.1 Prepare to write the business plan
o The Case Study and consult with stakeholders to understand the business environment and requirements of the business plan
• Task 2.2 Business Plan
o Write the business plan
• Task 2.3 Communicate the business plan
o Communicate the business plan and gather feedback
o Determine strengths and weaknesses of the business plan

Complete the following activities:
You are a Business Development Manager, recently employed by ABC Contact Services Pty Ltd (Refer to Appendix 1).
ABC does not have a current formalised business plan. The company has grown substantially in the past years, and management had little time to dedicate to a formal planning process.
The CEO hired you to apply appropriate techniques and proper documentation to formulate and document the business plan.
The CEO asked you to develop a business plan to support three or more of the following strategic priorities:
• Improvement of customer service operations to enhance the reputation of the business as a quality service provider (differentiation strategy)
• To establish a culture of innovation to support continuous improvement
• Competitive pricing through the progressive decrease of operational costs
• To increase market share for services to SMEs by 7% by the end of the next financial year
• To expand the business footprint interstate by open a second headquarter in Sydney by the end of 2022
• To use digital marketing strategies to drive an overall increase in sales (min. 30% across all products) in 2022
• To increase sales of the live virtual reception services: 20% in two years
• To establish the brand as one of the top three in the Australian market in the next three years
When developing the business plan, use the information gathered from your research and your planning skills to determine the best objectives, timelines and resources for your plan.

Task 2.1 Prepare to write the business plan

Prepare to attend a briefing session with the trainer and assessor in week 2 of class. The trainer and assessor will play the role of the CEO in the organisation in simulated work conditions.
The briefing session will be an opportunity to:
• Clarify the Case Study (Appendix 1)
• Review the pre-existing strategic, business and operational directions of the organisation.
• Analyse and interpret the business vision, mission, values and objectives in consultation with the CEO.
• Understand the market requirements for the product or service and discuss possible customer needs.
• Discuss what strategic priorities the business plan will support and confirm them.
• Discuss the organisational and legislative framework relevant to the development of the business plan.
• Identify the key performance objectives and measures for the business plan.
• Obtain approval from the CEO to proceed with the business planning process.
To prepare for the briefing session:
• Read Appendix 1
• Briefly research the industry and market in which the organisation operates
• Determine the focus of the business plan

The trainer and assessor will validate your participation in the briefing session and provide feedback in the marking sheet.
In their role as CEO, the trainer and assessor will provide approval to proceed with the business planning process and document the approval in the marking sheet.
If you are absent from class, it is your responsibility to make alternative arrangements with the trainer and assessor to attend a briefing session in the simulated work environment.

Task 2.2 Business Plan

Develop the business plan.
• When developing the business plan, it is advisable to brainstorm ideas and conduct research work in a group setting to simulate a real work environment where you would work with different stakeholders, use a diverse range of expertise and seek inputs from others.
• Consult with the trainer and assessor (the CEO in the simulated work environment) and other classmates (who will play the role of different stakeholders in the organisation in simulated work conditions). The trainer and assessor will validate that consultation occurred on the marking sheet.
• Provide an appropriate reference when sourcing information.
• Use Template 1 and follow the instructions.

Task 2.3 Communicate the business plan

A. Consultation
Circulate the business plan for feedback:
• Schedule a time with the trainer and assessor in week 4 of class.
• Ask two of your classmates to play pertinent stakeholders in the organisation and review your business plan in simulated work conditions: a business partner and a financial controller.
• The review will be in a meeting setting where you will present/illustrate the business plan developed in Task 2.2.
o Presentation time (when you illustrate the plan and engage with the stakeholders) is 20 minutes.
o Feedback time to complete the feedback form is 10 minutes.
o The feedback will cover:
» The strengths and weaknesses of the business plan, including a recommendation for improvement.
» A review (test) of the performance management system you included in the business plan.
» An analysis of the effectiveness of the business plan: is it realistic? Do you have enough resources to implement it? Does it align with the strategic direction of the company? Etc...
• Present/Illustrate your plan (sharing your screen in a zoom meeting or showing the plan from your laptop, for example)
• Your classmates will play the role of pertinent stakeholders in the organisation (a business partner and a financial controller). They will listen to your presentation, ask for further information and provide feedback.
• Provide the stakeholders with the feedback form (Template 2) before the presentation in soft or hard copy to take notes.
• Ask your classmates to complete the feedback report, sign and date.
• Provide evidence that the feedback reports were completed: a scanned copy of the two forms attached to your submission.
• Take the feedback received into consideration and finalise the business plan in Task 2.2 before submission.

B. Strengths and Weaknesses Analysis
Analyse the strengths and weaknesses of the business plan based on the feedback received in Task 2.3A.
Outline two (2) strenghst and two (weaknesses). Explain how you would improve the business to respond to the identified weaknesses.

C. Email
Write an email (Template 3) to relevant parties (managers/supervisors of department impacted and/or involved by the business plan ) and brief them about the plan:
• Outline the content of the plan
• Be clear to ensure understanding of performance requirements and timeframes
• Attach the business plan to the email
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
(100-150 words)

Assessment Task 3

Task - Monitor and review the implementation of the business plan

You are a Business Development Manager, recently employed by ABC Contact Services Pty Ltd (Refer to Appendix 1).

This Task will focus on monitoring and reviewing the implementation of the business plan developed in Task 2.

This Task builds on Task 2.

This Task comprises of the following assessment methods:
o Product-based
o Direct observation of Role-Play
o Case Study
o Other (specify)

It has been designed to evaluate your ability to/competency in:

• Communicate business plan to all relevant stakeholders
• Confirm skilled labour is available to implement plan
• Test performance measurement systems and refine, where required
• Prepare reports on key aspects of the business
• Report system failures, product and service failures and variances to the business plan as they occur
• Analyse performance reports against planned objectives
• Review performance indicators and refine, where required
• Identify and coach under-performing staff
• Establish ongoing review processes

You are required to address the following:
• Task 3.1 Implementation
o Develop the following strategies to support the implementation of the business plan:
» Communication
» Skilled labour
» Monitoring
» Training

Complete the following activities:

Review your work in Task 2.
Task 3.1 Implementation

A. Communication Strategy
Develop a communication strategy to ensure that all relevant parties are effectively informed of the implementation of the business plan:
• Plan for six stakeholder groups and/or individuals
• Identify the preferred communication strategy for each stakeholder to include communication needs (for example, a financial institution, providing you with financial resources, would be interested in detailed financial data rather than just a summary)
• In your strategy, specify the preferred communication tool (example: emails, face to face presentation, newsletter etc.)

B. Skilled Labour strategy
Develop a strategy to ensure you can source the skilled labour necessary to implement the business plan.
o This strategy should address the resource and competency needs that you have identified in your business plan (3-4).
o The strategy should include the timelines to acquire skilled labour.

C. Monitoring strategy
Develop a monitoring and control strategy to support the implementation of the business plan. The strategy must include:
• Process/es to test the performance measures (3-4/KPI) that you have identified to review the progress towards achieving your strategic objectives. Example: checklist, observation, user testing.
• A reporting system to ensure that reports on critical aspects of the business (such as finance, marketing, customer service, logistics and so forth, issues and progress towards achievement of set goals are timely available to relevant stakeholders, and they are user-friendly, up-to-date, and respect data integrity. Example: use of a project management software, shared drives, shared calendars, email protocols, version control.
• Timelines for reporting and key monitoring activities by business area as part of a continuous improvement strategy

D. Training strategy
Develop a training strategy to address underperformance and skills gaps in groups and individuals. The strategy will ensure skilled labour is available to implement the business plan.
This can include formal and informal training.
(50-100 words)

E. Skilled labour
Write an email (Template 1) to the CEO to confirm that skilled labour will be available to implement the business plan based on your skilled labour and training strategy.

The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

Task 3.2 Case Study

You are implementing the business plan.
Assume that the following occurred (contextualise the scenarios based on your business plan when required):

Address the following:
1. Outline what monitoring activities were implemented to identify the issues outlined in the scenarios above.
Additionally, the performance indicators used to identify the issues.

2. Address the following:
• Describe how each scenario impacts the implementation of the business plan.
• Outline how each scenario is addressed/managed.

3. Determine the changes/refinements that will be made to the business plan and the monitoring strategy and systems based on the scenarios.

4. Based on the scenario's impact on the business plan, evaluate the achievements of the business plan at the end of implementation (target Vs actual).

5. You have identified that one of the issues with the drop in sales (Scenario D) is that the sales group needs training in innovative sales practices.
i. Develop a training program (Template 2) to upskill the sales group. The training program must include three (3) different training opportunities (options).

ii. Research one of the following topics:
• Storytelling and sales
• Active listening
• Objection handling
Write an email (Template 1) to the sales group to share some tips and best practice about the topic you have researched.
When writing the email, think about coaching and write the email as an e-coaching exercise.
(80-150 words)

6. Write an email (Template 1) to the Board of Directors to inform them of the issues experienced at 50% timeline.

The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
(100-150 words)

7. Develop a Meeting Agenda (Template 3) to inform the Board of Directors about the issues experienced at 75% timeline.

Attachment:- Develop and implement business plans.rar

Reference no: EM133006187

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