STUDENT ASSESSMENTDEVELOP AND IMPLEMENT A BUSINESS PLAN – BSBMGT617InstructionsYou are advised to commence work on your assessment from week 1 and all tasks must be submitted by the due dates provided.1. All assessments must be completed and delivered individually. Where an assessment involves group discussions, you should consider the input of your group but submit an individual assessment to your trainer.2. Please read all instructions on completing each assessment. Instructions for completion are provided at the beginning of each assessment.3. All written answers must be typed in a word document using Arial font, 12 size and single spacing if similar instructions are not provided in the assessment.4. Your trainer will not be able to assist you in answering questions. However, your trainer will address any issues concerning questions requiring further explanation.5. You may refer to your student learning resources or any other relevant resources when completing your assessment.6. Assessments are due for submission as specified in the assessment schedule. Any variations to this arrangement must be approved by your trainer prior to the due date for submission.7. You have access to computers which are equipped with Microsoft suite of products or any other relevant software and printing facility.8. Use assessment templates if provided, to complete relevant sections of the assessment. You can also create your known templates for assessment evidence.9. You must achieve a satisfactory result for all tasks to achieve competency in this unit.10. All assessment answers should be submitted to the trainer in required format (soft or hard copy) as per trainer instructions with completed assessment cover sheet (if required).Assessment ScheduleTask Due DateTask 1 Week 1Task 2 Week 2Task 3 Week 3Task 1: Develop business planPerformance objectiveYou will demonstrate the skills and knowledge required to research, analyse and develop a business plan.Assessment descriptionThere are two parts to this assessment.Part AUse the information provided in the case study ‘Fast Track Couriers’ (see Appendix 1) to develop a business plan to support the company’s strategic and operational goals. Develop a plan for communicating the business plan to relevant parties.Part BReview the completed business plan (see Appendix 2). Analyse the strengths and weaknesses of the plan, and prepare a written report of your findings.ProcedurePart A1. Review the information in the case study ‘Fast Track Couriers’ (see Appendix 1)2. Analyse and interpret the current business environment, goals and objectives embedded in the case study.3. Consult with your assessor (assume the assessor is a key stakeholder) and discuss and agree upon performance objectives and measures.4. Document a business plan to assist the organisation to achieve its goals.5. Document a plan for communicating the business plan to all relevant parties.6. Present the business plan to your assessor (assume the assessor is a key stakeholder).Part BBusiness Plan 1:1. Read the business plan ‘Quality Training’ (see Appendix 2)2. Compare and contrast the business plan against the criteria for effective business plans, as described in your workbook or other reference materials.3. Compare the strengths and weaknesses of the business plan.4. Complete a written report, detailing a critical analysis of the strengths and weaknesses of the business plan.SpecificationsYou must:? for Part A:? submit a completed business plan? consult with key stakeholder (assessor) and document the outcomes of the consultation? submit a communication plan? for Part B:? submit a completed report, analysing the strengths and weaknesses of the business plan.Your assessor will be looking for:? in Part A:? the business plan includes:– Table of contents– Executive summary– Introduction– Description of the business (background)– Business products and services– Marketing activity – the market– Business operations – productivity and performance targets for key result areas (in consultation with key stakeholders); include financial and non-financial performance measures; and detail resource requirements, including human resources, capital equipment and other resources required to achieve business goals– Management and organisational structure– Proposal– Financial background – trading to date; and forecasts– Risks (risk analysis) – include a section on how you will ensure skilled labour is available to implement the plan, such as a recruitment or training strategy; Licensing; and include any permits or licences required– Conclusion? Communication strategy: Produce a report or document which covers the following areas:– The process you used to develop the business plan– Who are the key stakeholders?– What information will each person (position) require?– What are the relevant timeframes?– How will you communicate this information?– How will you ensure their understanding of their role in implementing the business plan?? In Part B:? The report is properly formatted and logically structured.? Identify relevant strengths and weaknesses of the plan, including discussion on the following areas:– Compare and contrast with text book structure and layout.– Comment on quality and relevance of information.– Comment on quality of information, i.e. did the business plan demonstrate adequate research on competition market conditions?– Comment on quantity of information – was there sufficient information to determine the likely success of the business in accordance with its performance measures?– Were the performance measures specific and realistic?– Was the document well set out, easily understood and pitched at an appropriate level for the reader?AppendixCase Study – Fast Track Couriers Business Plan – Quality TrainingTask 2: Monitor performancePerformance objectiveYou will demonstrate the skills and knowledge required to monitor the performance of a business plan.Assessment descriptionFor this task, you will monitor the performance of a business plan, through testing and refining of the performance measurement system, and report on progress of the business plan in a timely and effective manner.Procedure1. Review the completed business plan from Assessment Task 1.2. Identify the key performance objectives.3. For each key performance objective:a. Produce a report to capture and test the performance measure.4. Write a brief report on how you would test the performance measurement systems, including:a. Acceptable levels of variance to planned objectives (where applicable).b. The timeframe for each report – how frequently reports will be completed.c. What benchmarking will be used.d. Who the key stakeholder will be for each report.SpecificationsYou must submit:? a report on capturing performance data for each performance measure? a written report explaining how the performance measurement system will be implemented and tested, and how system/product failures and variances to the business will be reported, to whom and when.Your assessor will be looking for:? in your performance measurement system:? one report for each performance measure? covers financial and non-financial performance measures? report should be pitched at the appropriate level for the recipient? should be presented in a readable and logical format? should include graphs, charts or other methods of presenting data? in your report:? timeframes should allow appropriate action to be taken (where necessary)? identify key stakeholders who will require the information? describe the benchmarking used to determine suitable performance measures, including tolerance levels and variances to plan? document how system failures, product failures and variances to the business will be reported, to whom and when.Task 3: Respond to performance dataPerformance objectiveYou will demonstrate the skills and knowledge required to analyse performance reports, review performance indicators and take appropriate action to address systems failures and variances to the business plan.Assessment descriptionIn this assessment task, you will analyse performance data and reports against planned objectives, implement strategies to refine performance indicators, and address coaching and training needs. You are also required to develop and recommend processes for the review of systems, procedures and work methods.Procedure1. Review the case study ‘B&A Toy Warehouse’.2. Critically analyse the information and write a brief report, responding to each question in the case study.SpecificationsYou must submit:? a written report that addresses all questions in the case study.Your assessor will be looking for:? Question 1:? After completing a comparison of current performance against desired performance levels, identify the corrective actions required to achieve the business plan goal of improving warehouse productivity by 10%. What type of corrective actions do you recommend for each performance improvement (e.g. interim, adaptive, corrective, preventative or contingency)?? Question 2:? Critically analyse the performance against planned objectives.? Identify areas of non-performance.? Report on systems failures which contributed to these results.? Consider failures in communication, planning, reporting and training.? Review performance indicators and refine if necessary.? Comment on the suitability of performance indicators and what changes might be required to achieve organisational goals.? Question 3:? Recommend performance improvement strategies.? Identify and redefine performance measures, if necessary.? Document a training and development strategy to address the performance of underperforming individuals or teams.? Identify development needs of individuals and groups.? Identify training/coaching needs.? Present in a development plan.? Question 4:? Develop a strategy for reviewing systems processes and work methods at B&A Toy Warehouse.? Describe how the implementation of your strategy would lead to continuous improvement.AppendixCase study – B&A Toy WarehouseReferences / recommended resourcesDevelop and implement a business plan – BSBMGT617, 2015, 1st Edition, Version 1, Innovation and Business Industry Skills Council Ltd Australia, East Melbourne, VIC, AustraliaRecommended readingSome recommended reading for this unit includes:? Bangs, D., and Schaper, M., 2003, The Australian business planning guide, Allen & Unwin, Crows Nest.? Barrow, P., 2001, The best-laid business plan, Virgin Books, London.? Finch, B., 2006, How to write a business plan, Kogan Page, London.? Business.gov.au, ‘Starting a business’, viewed August 2015, http://www.business.gov.au/business-topics/starting-a-business/Pages/default.aspx .Printed resources? Bangs, D., and Schaper, M., 2003, The Australian business planning guide, Allen & Unwin, Crows Nest.? Barrow, P., 2001, The best-laid business plan, Virgin Books, London.? Finch, B., 2006, How to write a business plan, Kogan Page, London.? Rath and Strong Management Consultants, 2001, Six sigma pocket guide, Rath and Strong Management Consultants, Massachusetts, pp. 105.Online resources? 2GC, 2010, ‘Balanced Scorecard – an introduction’, viewed August 2015, http://www.2gc.co.uk/balancedscorecard .? Australian Business Licence and Information Service, viewed August 2015, https://ablis.business.gov.au/pages/home.aspx .? Balanced Scorecard Australia, 2010, ‘About the Balanced Scorecard’, viewed August 2015, http://www.balancedscorecardaustralia.com/about-balanced-scorecard/about-the-balanced-scorecard-detail .? Balanced Scorecard Institute, ‘Balanced scorecard basics’, viewed August 2015, http://balancedscorecard.org/Resources/About-the-Balanced-Scorecard .? Burrese, A., 2008, ‘How to determine value of products and services’, Ezine Articles, viewed October 2010, http://ezinearticles.com/?How-to-Determine-Value-of-Products-and-Services&id=1503005 .? Business.gov, ‘Business planning’, Business.gov, viewed August 2015, http://www.business.gov.au/business-topics/business-planning/Pages/default.aspx .? Business.gov.au, ‘Starting a business’, viewed August 2015, http://www.business.gov.au/business-topics/starting-a-business/Pages/default.aspx .? Government of South Australia, ‘Starting your business’, Department of State Development viewed August 2015, http://www.statedevelopment.sa.gov.au/industry/smallbusiness/starting-your-business .? J. Beech & S. Chadwick (eds.), 2004, ‘The business of sport management: Glossary’, Booksites, viewed August 2015, http://www.booksites.net/download/chadwickbeech/Glossary.htm .
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