Reference no: EM132996288

BSBMGT617 Develop and implement a business plan

Assessment 2 - Project 1 - Prepare a draft business plan

Pesto's is a new medium-sized restaurant located in Brunswick in Victoria. As part of the business planning process, the Chef Mario has prepared the outline above, but he has been too busy to actually prepare a business plan.

You have recently been appointed as their General Manager. The business owner has asked you to prepare a business plan for them. To assist you, he has provided you with an outline of a business plan that he has prepared.

Part A: Analyse information provided in the outline of the business plan

This is a simulated task.

You will need to work with the information provided and play the role of the General Manager of Pesto's.

Your first task as the General Manager is to analyse the outline of the business plan that Chef Mario has provided to you.

A. In the space below identify at least four weaknesses in the existing outline of the business plan that you were given.

B. This outline demonstrates some strengths. Identify at least three strengths.

C. Make notes on summarising the key information you will need to consider when writing the business plan for Pesto's.

Part B: Role play - Participate in a Role play discussion with business owner

This is a simulated task. You must:
• Make an appointment with your assessor for a discussion.
• Your assessor will organise the setting for the role play on the agreed date and time.
• Your assessor will play the role of the business owner/ organise for a volunteer to play the role of the business owner.
• During this session, you must contribute your analysis of the business outline and highlight the strengths and weaknesses.
• Based on your analysis, you must ask the business owner for their inputs on:
o a suitable business vision statement
o a suitable mission statement
o financial objectives performance indicators benchmarks for the new business, such as sales figures, personnel costs, break-even point, etc.
o non-financial objectives and performance indicators benchmarks, such as customer satisfaction, performance and productivity
• During/ after the session, you must make notes of the information you have gathered from the consultation in the space given below.
• You must submit these notes with your assessment.

Part C: Prepare a draft business plan for approval

This is a continuation of the simulated Part B, and you are to develop a draft business plan for Pesto's Restaurant, as you would for a real company. You should base your plan on the information provided to you in the scenario for Assessment 2 Part A, and where required you are to use imaginary but reasonable information.

• Include the following information:
• Executive summary - a half-page overview written after your business plan is finalised
• Description of the business (you would need to insert some imaginary details, as this is a simulated activity)
o Business details: General details about the business

o A vision statement which briefly outlines the overall goals for the business

o A Mission Statement

o Registration details including a list of all required licenses and permits

o Business premises, registrations and license required

o Organisation chart: staff hierarchy and the positions you need to fill in the recruitment process

o Management and owner ship: Who owns the business and if more than 1 person the % shares between all owners

• Products/services: What you sell
• Insurance required for the business
• Laws that affect business policies and procedures
• A S.W.O.T. analysis: Research and review the market
• Review of market requirements for the product or service, profile customer needs and research pricing options
• Research competitors and review pricing structures for the business
• Target market and marketing strategy summary and marketing methods you will use. (Review the market requirements for the product or service, profile customer needs and research pricing options while formulating a marketing strategy, identify the advertising methods you will use)
• Financial, human and physical resource requirements
o Financial resources: Briefly outline approximately how much profit you intend on making in a particular timeframe. How much money will you need up-front? Where will you obtain these funds? How much of your own money are you contributing towards the business?

o Key personnel: staff / human resource requirements for the business

• Productivity and performance targets for key result areas of the business

o Two performance measures for financial management:

» Expenses actual to projection

» Income actual to projection

o Two performance measure for marketing strategy

o Two performance measures for customer satisfaction

o Two performance measures for sustainability

o Plan of how you would test the performance measurement systems, including:

» Acceptable levels of variance to planned objectives (where applicable).

» The timeframe for each report - how frequently reports will be completed?

» What benchmarking will be used?

» Who the key stakeholder will be for each report?

You may use the Business Plan Template and guide provided in Appendix A.

Attachment:- Develop and implement a business plan.rar