Reference no: EM132449829
BSBMGT617 Develop and implement a business plan
You are required to prepare a strategic business plan report and perform a presentation for your business plan. To complete this assessment, you are required to follow the reporting structure as provided to complete the business plan (PART A) and perform a presentation of your plan (PART B).
PART A - STRATEGIC BUSINESS PLAN REPORT
Using the Strategic Business Plan template provided in this assessment, develop a strategic business plan for anenterprise of your choice (within Australia) or use the simulated organisational context of Academies Australasia Group.
You will be working to develop a strategic business plan for your chosen business to open a new branch at Hobart. The paper and the presentation should include a well-laid process to actualize the business idea, strategic financial feasibility, marketing feasibility, and operational feasibility. In order to open a new branch to offer services at Hobart, the company needs to have the appropriate legal clearance from the relevant authority. You will also need to conduct an extensive research to identify the legal requirements and summarize your findings.
To demonstrate competency you will need to consider in your analysis the capabilities and resources of the new enterprise, vision, mission, trends and developments in the marketplace, comparative market information, and legal and ethical restraints on the proposed business activity. Finally, the strategic business plan should provide a forecast for the long-range direction of the business and its strategic success.
PART B - PRESENTATION OF STRATEGIC BUSINESS PLAN
In PART B, you are required to prepare a presentation to communicate and consult with relevant stakeholders on the organisation's strategic business plan and discuss the critical issues such as organisational details, business strategies, marketing strategies and analysis, operational plan, and financial plan.
• Your presentation will be a PowerPoint presentation of 15-20 slides using the critical elements of the presentation structure. You may not use more than 20 slides.
• Include a list of reference or sources that you may have used to prepare the presentation.
• Marking weights for the presentation is within the marking criteria table.
• You are also required to attach the presentation slides at the end of the report as APPENDIX.
In this section you are required to provide a short summary to your Director (your trainer will act as the director) on the Strategic Business Plan that you have created. This is an important start to your plan. Include the following information:
1. Review of the business vision and mission statement and the operational plan. Verify the existing vision, mission, and operational plan with the stakeholders and suggest some changes using a 3 minute communication pitch.
2. Analyse the growth strategy and operational plan and provide a business case for opening a new branch in Hobart, Tasmania.
3. Develop at least 3 new organisational values based your changes to strategies and operational plan.
4. Consult with stakeholder and gain feedback and support from them.
1. INTRODUCTION & BUSINESS PLAN
This section should include organisation descriptions, products and services, location, number of employees, turnovers and revenues of the last fiscal year, and most importantly why the expansion is needed in Hobart, Tasmania (or a different state). Your Introduction should be within 300 word limit.
2. REVIEW MARKET REQUIREMENTS IN THE NEW LOCATION
In this task you will include a "Market Research Analysis" andplan for the organisation. For this task, you are also required to look strategically so that your new branch can reach the break-even and move towards a good market share in future.
You are required to provide relevant market research analysis such as
a. Market size (in terms of numbers, amounts, clients, etc) in the area
b. 4Ps analysis
c. Target customers (demographics, characteristics, and their geographic locations)
d. Pricing strategy (low cost, premium, specialised, etc)
3. DEVELOP PERFORMANCE OBJECTIVES FOR THE EXPANSION AND GROWTH
In this section you are required to develop performance objectives and targets to achieve below, in combination, form a performance scorecard for easily tracking the performance improvements generated by this plan.
4. IDENTIFY FINANCIAL, HUMAN AND PHYSICAL RESOURCE REQUIREMENTS
In this section you are required to identify financial, human and physical resource requirements for the organisation's expansion.
5. PERMITS AND LICENSE REQUIREMENTS FOR EXPANSION
In this section you are required to identify permits and licensing requirements for the organisation's expansion.
6. DETERMINE INFORMATION REQUIREMENTS
In this section you are required to conduct an environmental analysis using the PESTLE template provided below.
7. INTERNAL AND EXTERNAL ENVIRONMENTAL ANALYSIS
In this section you are required to conduct an environmental analysis using the PESTLE template provided below. You may wish to add/reduce the bullet points depending on the number of factors
identified for the HR planning of the organisation.
8. SEEKING ADVICE FROM DIRECTOR ON ENVIRONMENTAL ANALYSIS
Based on the Internal and External Environment analysis that you have prepared in the previous section, in this section you are required to seek advice from your director who will provide you approval on your completed internal and external environment analysis.
9. SWOT ANALYSIS
In this section you are required to conduct an SWOT analysis using the template provided below. This should include the strengths, weaknesses, opportunities and threats relevant to your potential competitors and your allies.
a. List each of your businesses strengths, weaknesses, opportunities or threats in the table below. You may wish to add/reduce the bullet points depending on the number of factors identified SWOT analysis.
b. Outline how you plan to address each of the weaknesses/threats.
c. Complete the competitor analysis table.
10. PLAN FOR HUMAN RESOURCES/SKILLED WORKFORCE AVAILABILITY AND COSTS
In this section you are required to mention your predicted or forecasted labour requirements for the organisation and the options from where you will source for your recruitment. Consider doing an Internet research on the Hobart city and Tasmanian economy (or your chosen city and state). You are also required to detail future plan for staffing purposes.
a. Identify the availability of skilled workforce for your expansion to Hobart/chosen city.
b. Identify the staffing requirements for your business along with a table showing the budget requirements for each position over the next three years.
c. To ensure skilled workforce, write one generic advertisement to be postedatwww.seek.com.au to hire skilled workforce for the positions required. (Case organisation will need to hire casual teachers, campus managers, academic coordinators, student services officers, IT support staff, marketing officers, logistics staff and casual cleaners).
11.FINANCIAL PLANNING (P&L STATEMENT, CASHFLOW STATEMENT)
In this section you are required to prepare the financial plan for the case organisation (or the business you have selected) and forecast the financial strategy for the next three years.
You are required to prepare:
a. Projected Profit and Loss Statement for three years
b. Cash-flow Statement for three years
12. SIMULATED SCENARIO FOR BUSINESS QUARTERLY REPORT
Scenario: Assume you have operated a quarter of a year within the new branch location. Your director has requested for a quarterly report of the branch activity and review the performance. Based on previous business analysis and the research, prepare the business quarterly report. This report should be based on the first quarter of the business operation.
13.REDESIGN PERFORMANCE INDICATORS FOR STAFF MEMBERS OF NEW BRANCH
In this section you are required to redesign the performance indicators for staff members of the new branch.
14. COMMUNICATE & BRIEF STRATEGIC BUSINESS PLAN
In this section you are required to communicate and brief the strategic business plan to relevant stakeholders, parties and new staff members. Modify the email and brief templates according to your organisational requirements.
You are required to:
a. Communicate the business plan to the new staff members of the new branch using an email to ensure that they all understand the performance requirements and timeframes. You must communicate the KPIs, acceptable standards and timeframes that you planned in previous table along with the organisational strategies.
b. Provide a strategy brief to all individuals/teams on their specific roles in achieving the strategies. You may wish to explain them about targets and goals.
15. SIMULATED SCENARIO FOR SYSTEM FAILURE(WH&S) & VARIANCE REPORTING
Scenario:Assume that there had been several WH&S breaches and minor incidents in the new organisational premise/branch where there are approximately 40 individuals working on each day. This is because the new staff members were not trained in regards to Work Health and Safety issues. In addition, the old members who have transferred from your original office are not practising the WH&S procedures of the organisation adequately.
a. Based on the WH&S Act 2011, identify the following: What type of training (for example, refresher course) is required in the new premises/location/branch. How many person needs to have a first aid certificate? What requirements do you have in regards to safety committee? What type of safety procedures should you have? Which external organisation (third party) will you hire for the WH&S training? What would be the costs?
b. Prepare a 300 report for your Director at Sydney office mentioning the system failures and WH&S failures and incidents and explain your case for WH&S training and WH&S Management Systems. You are also required to explain the variances that will be required to the strategic business due to these additional time, effort and expenses for implementing Work Health & Safety Management Systems.
16. SIMULATED SCENARIO FOR PERFORMANCE DATA ANALYSIS
This section includes a scenario after the operations have started in Hobart/chosen location.
Scenario:
After 4 weeks of operations in Hobart (chosen) branch you have realised that there are several areas of concerns within the implementation of the business plan. First of all, you find in performance reports databases that there are several failures in meeting performance objectives. These include performance failures such as:
• Marketing targets are not being met
• Classrooms (operations, if using a separate organisation) and facilities are not setup in advance
• Trainers and teachers have not provided adequate support to the students/ CSR have not provided adequate service to clients
• Classroom punctuality issues / Staff attendance issues
• Enrolment of all student/ clients has not yet being completed in the EMS database
• Inductions for all students/clients are yet to be completed
Based on these performance issues mentioned, you have decided to analyse and review the existing performance against the objectives that you have set earlier. You have also decided to review the performance indicators, system processes and work methods.
To complete this section you are required to
a. Analyse performance reports against objectives
b. Review performance indicators and refine if necessary
c. Ensure individual and group performance with coaching and training
d. Review system processes and work methods
a) Performance Report Analysis
b) Review of Performance Indicators
(Develop and review at least one KPI for each of the positions mentioned in the template or use at least 3 positions relevant to the organisation of your choice)
c) Identify Training Needs, Provide Training and Coaching (ROLE PLAY ON TNA)
Scenario:A student services employee named Mellissa who was responsible for enrolment of all student/ clients in the EMS database and the inductions had performance issues as she did not complete the tasks within the timeframe. As she is a new employee it would be reasonable for you to identify her training needs and gaps and provide her with adequate coaching and training to ensure she can take on increased responsibilities and new tasks, by her own without missing deadlines.
You will need to complete TNA template below along with a 3 minute role-play session on this meeting (that you will need to attach in Appendix). You will play the role of general manager and a fellow classmate can play the role of Mellissa for this Training Needs Analysis Meeting.
d) Review system processes and work methods
To complete this task you are required to
Develop at least four system processes and work methods that are relevant to the work/roles in your organisation.
17. AUDIT OF MILESTONES ACHIEVED
Scenario:In this section you are required to evaluate the achievements of the agreed milestones. The agreed milestones (you will need to decide on agreed milestones if you are using your chosen organisation) for this new branch were:
• Setup the new premises by 4 weeks for operations
• Complete enrolments for all students by Week 2
• Staff performance levels are around 80% accuracy and timeliness
• Marketing has reached its sales target of 30 students per month
• Teachers and trainers have received a positive feedback of 60% or more
18. COST BENEFIT & RISK ANALYSIS
Scenario: As you have managed the strategic and business plan for this new branch, the investors and stakeholders are motivated by the prospect o setting up another venture in a different location in near future. You reporting director have requested you to conduct the following analysis for the next venture project as you have gained the experience in analysing. Based on the experience you had in this branch location and strategic project; conduct the following analysis for another venture:
a. Identified Risks
b. Risk Analysis& Assessment
c. Cost Benefit Analysis
Identified Risks
Identify at least 3 potential risks to this project and explain your strategies to reduce/eliminate/control the risks.
Attachment:- Develop and implement a business plan.rar