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Assessment Guidelines (BSBMGT617) DATE OF SUBMISSION 12/06/2020 Assessment task 1 Part (A) Submit a complete report, analysing the business plan of WorkChairs (Appendix 1). Words Limit 1500 Please...

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Assessment Guidelines (BSBMGT617)
DATE OF SUBMISSION 12/06/2020
Assessment task 1
Part (A)
Submit a complete report, analysing the business plan of WorkChairs (Appendix 1).
Words Limit 1500
Please follow the report format as mentioned below.
1) Executive Summary regarding your report
2) Introduction (WorkChairs)
3) Analysis (this is your part of analysis
· Action plan
· Business goals
· Competitor analysis
· Financing a
angements or financial targets
· Management a
angements and/or personnel requirements
· Marketing approaches
· Product / services research and analysis
· Compare strengths and weaknesses of the business plan.
Part (B)
i) Submit a completed business plan (No words limit)
Review and analyse the information in the case study ‘Fast Track Couriers’ (see Appendix 2) and complete the following tasks:
· Cover sheet
· Executive summary
· Table of Contents
· Description of business
· Business product / services
· Marketing activity
· Business operation
· Management and Organizational structure
· Personnel plan
· Financial Plan - Forecasting
· Physical Resources Plan
· Risks (Risk Analysis)
· Licensing and Permit requirements
· Conclusion
ii) Consult with key stakeholder (assessor) and document the outcomes of the consultation
· Analyse and interpret business vision, mission, values and objectives embedded in the case study.
· Consult with your assessor (assume your assessor as a key stakeholder) about the information essential for writing a business plan. Describe which consultation process you opted for this activity. Attach the outcome of the activity as evidence for consultation.
· Review the marketing activity of the business. Discuss about the following in this section.
· Market requirements for the product /service
· Customer needs
· Pricing options.
· d) Consult with your assessor (the key stakeholder) about developing performance objectives and measures to monitor and evaluate the effectiveness of the business plan you will develop in the later steps. Use “Three Steps to monitoring and evaluating performance” for this task. Develop at least 2 financial and 2 non-financial performance objectives for this task.
Assessment task (2)
1) Submit a presentation on The Business plan you created in Assessment 1.
Please make presentation slides on the topics listed below.
· 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?
2) A written report of 750 words on selection and implementation of performance management system to measure you selected financial and non-financial performance objectives.
Executive Summary
Introduction
Analysis
i) Selection of performance management system you will implement to measure both financial and non-financial performance objectives. You have developed in your assessment task 1.
ii) To test financial performance objectives, use financial plan you developed in assessment 1.
iii) You can select from the following performance management system:
a. Review of variance
. Balanced scorecard
Other requirements of the report which helps you to understand the ingredients of the evidence.
· One report for selecting and implementing performance management system
· Variance report for financial performance objective and Balance scorecard for non-financial performance objectives
· One report for testing performance management system
· Your report should cover all 4 points asked in Question 3.
· 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
3) Write a report of 1250 words on testing performance management system and refine, if necessary considering the following points:
Executive Summary
Introduction
Analysis
i) Acceptable levels of variance to planned objectives (where applicable).
ii) The timeframe for each report – how frequently reports will be completed.
iii) What benchmarking will be used.
iv) Who the key stakeholder will be for each report.
Other requirements of the report listed below.
i) Acceptable levels of variance to planned objectives (where applicable).
ii) The timeframe for each report – how frequently reports will be completed.
iii) What benchmarking will be used.
iv) Who the key stakeholder will be for each report.
Assessment Task 3)
Please review the case study ‘B&A Toy Warehouse’.
Please answer a written response that addresses all questions in the assessment tool see page 16 and 17 for potential help.

BSBRES401A Analyse and present research information
Develop a business plan
BSBMGT617 Develop and implement
a business plan
Session 1
Purpose of this presentation
At the end of this session, you should be able to:
eview and evaluate pre-existing strategic, business and operational plans (if available)
analyse and interpret business vision, mission, values and objectives
consult with key stakeholders
eview market requirements for the product or service
Purpose of this presentation
(continued)
develop performance objectives and measures
identify financial, human and physical resource requirements for the business
consider any permits or licences that may be required for new activity.
3
Internal uses for business plans
Implementation of a new system, process or piece of equipment that requires a financial investment.
To achieve growth targets.
To increase market share.
To ensure the ongoing profitability of the organisation.
External uses for business plans
To seek investors in a new business venture or existing business.
To secure funds from a financial institution to purchase a business.
To assist you with running your own business.
To obtain a grant or regulatory approval.
General content of a business plan
The business objectives.
How and when these objectives will be achieved.
The resources required to achieve objectives.
6
Review existing documentation
action plans to implement planned activities
usiness goals
competitor analysis
financing a
angements or financial targets
management a
angements and/or personnel requirements
marketing approaches
product or service research or analysis.
7
Key stakeholders
May include:
senior management teams
usiness partners or financiers
customers
shareholders
staff
technical experts or advisors.
8
Consultation process
Consultation may involve any of the following:
meetings or interviews
ainstorming sessions
focus groups
feedback sessions
email communications
newsletters.
9
Review market requirements
What business are you in?
Who are your target markets?
What do your customers buy?
What benefits do your customers think they receive from your products or services?
10
Market segmentation
    Demographic segmentation
    Grouping customers together by personal attributes such as:
age
sex
education
socioeconomic positioning.
11
Market segmentation
    Geographic segmentation
    Grouping customers together based on where they live and choose to buy. In most cases, customers choose to buy locally because of convenience, however, customers will travel to make a purchase for other factors, such as:
quality
availability
price.
12
Market segmentation
    Benefit segmentation
    Grouping customers together based on the benefits the product or service provides to them.
13
Performance objectives and measures
Performance objectives and measures may relate to:
efficiency measures
input measures such as employee time or dollars allocated
outcome measures
qualitative indicators, such as feedback from customers, effect on the wider market/competitors, staff reports
quantitative indicators, such as numbers produced and sold, turnover, customer satisfaction ranking, lower staff turnover.
14
Monitoring and evaluating performance
Decide on:
what you will measure
how you will measure performance
how you will analyse the results.
15
Decide what you will measure
What is most important to your organisation?
expenses
quality
sales
productivity
customer satisfaction
employee engagement.
16
Decide what to measure
What is your business plan trying to achieve?
usiness growth
introduction of new products and services
change in business direction
egulatory compliance
secure financial investment.
17
Determine how you will measure performance
    It can be useful to categorise focus areas into the following categories:
time
cost
quality
production
growth.
18
SMART objectives
Specific
Measureable
Agreed
Realistic
Time-framed.
19
Identify resources
financial resources
human resources
physical resources.
20
The next step
You should now:
Complete all activities in Section 1 of the Student Workbook.
Review any assessment requirements.
Discuss any additional learning needs with your facilitator.
Write a business plan
BSBMGT617 Develop and implement
a business plan
Session 2
Purpose of this presentation
At the end of this session, you should be able to:
produce a document that is well written and structured, and contains accurate information about the business
communicate the business plan to all relevant parties, to ensure a clear understanding of performance requirements and timeframes.
Contents of a business plan
Cover sheet
Executive summary
Table of contents
Description of business
Products/Service
The market
Operations
Management
Financials
Risks
Conclusion
Appendices.
Cover sheet
The cover sheet to your business plan details:
the business name
the autho
s or the business plan
contact details of the author.
Executive summary
Your summary should, at a minimum, include an overview of:
your business and structure
what you are proposing
why it will be successful
what you need from the reader, e.g. if money, how much money?
26
Description of business
What is your business?
When did the business form?
How was it formed?
Who formed it and why?
Why it will be successful?
27
Products and services
The product/service you provide.
How the product/service is supplied or distributed to the customer.
The benefits your product/service offers.
Any unique qualities of the product or service you provide.
Where/how do you obtain your product – what are you supply a
angements?
Supply issues or constraints.
28
The market
You should describe:
the structure of the market - who are the ‘main’ players?
your competitors and how they compete with you
market segments - who purchases your product/service and why do they choose you?
trends
price
marketing plan.
29
Management
Who are the management team involved in implementing the plan?
Who are the support resources required to implement the plan?
What are their roles and responsibilities?
Where can you access additional expert support and guidance if required?
30
Financials
Financial information may include:
sources and allocations of funding
financial plan or budget
alance sheet
profit and loss statement.
31
Risk
When documenting risk, you should answer the following questions:
What are the risks associated with implementing the business plan?
What mitigants exist to reduce the likelihood of these risks having an impact?
32
Conclusion
Your conclusion should summarise each of the key sections of your business plan, including:
description of business
products/services
the market
operations
management
financials
isks.
33
Appendices
Examples of appendices include:
licences
esumes of key staff
credit information
leases.
34
Communicating business plans
A communication plan captures:
who the audience is
the message they will receive
when this communication activity will occu
how the message will be communicated (e.g. email, face-to-face, newsletter)
who is responsible for communicating the message.
35
The next step
You should now:
Complete all activities in Section 2 of the Student Workbook.
Review any assessment requirements.
Discuss any further learning needs with your facilitator.
Monitor performance
BSBMGT617 Develop and implement
a business plan
Session 3
Purpose of this presentation
At the end of this session, you should be able to:
test performance measurement systems and refine if necessary
ensure
Answered Same Day Jun 06, 2021 BSBMGT617 Training.Gov.Au

Solution

Tanmoy answered on Jun 11 2021
156 Votes
Assessment Task Part 1
Part (A)
Business Plan – WorkChairs
Executive Summary
WorkChairs is an ergonomics products organization selling its products and services to various business centers in and around the Studio City of California. It was founded by Jake and Lisa Wilson. They sell niche products which are able to resolve the health related problems which are very common among the computer users. They have already established a solid customer base in small and large business houses as well as in home offices. They have developed a website which focuses on online sales and educating people about the various ergonomics issues and sedentary lifestyles. WorkChairs have only one employee Peter Wilson and emphasizes on low expenses, salary and traditional sales forecast. But their financials shows a positive cash inflow and an optimistic Net Worth.
Mission
The mission of WorkChairs is to provide its customers with specialized ergonomic products which will help them to work in a healthy work environment free from injury and pain and at a reasonable price. This will help WorkChairs to grow in both local and online markets.
Introduction
WorkChairs is an ergonomics speciality private company owned by Jake and Lisa Wilson on a 50% ownership by each owner. They sell ergonomics products like speciality chairs, standard and computer workstations, various computer accessories, document holders and foot rest stand, back, wrist and arm supports, lighting for lesser eyes stress and microphones and headsets. The products are targeted specifically to solve health related issues like back problems due to bad chairs, wrist aching from typing, damaged eyes due to staring at the computer screen for long hours. These products are seldom found in office supply or general furniture stores. WorkChairs aims to sell their products through local market as well as online channels. The WorkChairs ergonomics speciality products are expected to be sold to home office users, small and large business centers.
Success factors
The secret behind the success of WorkChairs is its niche products which are unavailable with the large retailers like Staples, Costco, Office Max, IKEA and Office Depot.
Also, their customer service through customer education on health related issues and the usage of their ergonomic products are admirable.
Their products cost are affordable as they tries to keep their cost low and operates efficiently.
WorkChairs online selling of ergonomic products and customer education on the various health issues and benefits of using ergonomic products is an added advantage.
Analysis
The sale of ergonomic products is on the rise with the increase in the usage of computer and resultant health problems associated with sitting and working infront of computer for longer period of time. WorkChairs is a new company and is gradually trying to increase its sales in niche segment as competition in ergonomics and office furniture products is too high in USA. Hence, their niche products are targeted towards the small and large business offices and home offices in California, USA. Their major selling strategy is through local markets. But since office people searches for the ergonomic products through online and internet is on rise, WorkChairs has launch their own website where both products with prices are available and which can be ordered online. Even, they have implemented a customer education programs on the various negative impact that can affect the people due to sedentary lifestyles and usage of computer and other apparatus for longer period of time. In these education tutorials they have introduced many benefits that their ergonomic product imparts and helps to create a healthy, injury free and safety work environment. Also, WorkChairs have no outside liability and is a wholly owned company. This is an added advantage for them as the founders are the shareholders of the company and nobody else are controlling the management of the company. Therefore, it can be stated that WorkChairs future prospects are
ight.
Action plan
The implementation strategy of WorkChairs is to sell the ergonomic products which are rare and are hard to find in local office furniture stores. Also provide the customer with quality informative of the product and its benefits.
Enhance the customer service by building sound relationship and a sense of empathy through customer education.
Sell the WorkChairs products both in local markets as well as online to increase the sales and profits of the company.
Business goals
I. WorkChairs has planned to become profitable within a period of six months of operations.
II. WorkChairs wants to become the market leader of speciality ergonomic products in local market.
III. To uplift the website of WorkChairs among the top five websites of speciality ergonomic products measured both through sales and traffic.
IV. Make an environment where the customers can work with fun and in a safer and comfortable work environment.
Competitor analysis
WorkChairs have a competitive advantage in comparison to its competitors. WorkChairs basically deals in niche ergonomic products which are generally not found in the local office furniture stores and big retailers like Costco, IKEA and Office Depot. They are also emphasizing on online selling of their products and even imparting customer education through their website. Their ergonomic products which are mainly co
ectly designed chairs for a good posture, workstations and lighting facilities to avoid eyes stress are specially designed to provide the customers a healthy and safety work place is seldom available in local office furniture stores. This makes WorkChairs different from its competitors.

Financing a
angements
It is just the first year for WorkChairs and the company has been able to made quality and effective relationships with customers and have agreed to purchase the specialised ergonomic products. The sales is expected to grow by 20% in the first year but the sales of computer accessories and workstations growth will be slower by 15% and needs more marketing and customer education to enhance the sales.
Post one year WorkChairs expected overall growth is projected at 20%. The ultimate aim of WorkChairs is to keep the expenses and payroll low. They have appointed only one employee in their company to conduct the business. There are no major expenditures to be made by WorkChairs and hence they have low cash in hand. Their ultimate aim is to maintain a positive cash balance at all times. There is probability of lower growth in 2003 but is expected to earn huge returns in 2002 and 2004.
Management a
angements and/or personnel requirements
There are three employees working in WorkChairs who are the owners Jake and Lisa Wilson and Peter Wilson who will be working part time on a modest fee $12000 in the first year and $20000 from third year onwards. Presently Jake and Lisa are not taking salaries but are expected to take salaries once they earn profits in 2003. Their salaries will be $21000 each in the first year and $36000 each from the second year onwards.
Marketing approaches
The marketing strategies will be in three specified target markets:
1. Local market strategy: This will be through three specific processes like Cold Calls, Yellow pages, Business Groups.
2. Online Marketing Strategies: Search engines, pay per clicks, Link building campaign, Affiliate program and word of mouth.
Product / services research and analysis
The main products of WorkChairs are its Chairs and are expected to sell in maximum. These are targeted to office and large corporate houses in California. This is followed by sales of workstations which includes regular and specialized workstations. He third includes computer accessories and includes mouse, keyboards and wrist rest pads, glare screen and keyboard trays. These products will be sold to home office and the small office managers which are growing at 5% each year in the United States. But, the sale of ergonomic products will be low at only 2% for large business managers.
Compare strengths and weaknesses of the business plan
The strength of the business plans are as follows:
1. There are no liabilities for WorkChairs and as a result they are debt free.
2. WorkChairs specialises in niche ergonomic products which are seldom found in local furniture stores.
3. They have launched website for online purchases and customer education for the benefits that customers can get from WorkChairs ergonomic products.
The weaknesses are as follows:
1. WorkChairs won’t be able to sustain price competition from the large players in office furniture sells.
2. They are very new and it will take few years to establish themselves and to sustain against the discounts and offers provided by the large retailers in furniture products.
Business Plan – Review and Analysis of Fast Track Couriers
By - Nagendra
Executive summary
Fast Track Couriers is a courier operating company in New South Wales for the last 15 years. They operate in medium and large sized packages across Sydney which is almost 80% of their customer base. They have a reliability and value for money as their
and value. It has been operative over the past 12 years which is reflected in their growth and profits. They operate only in Sydney and not in any other location outside Sydney. They market themselves through sales, telephone, mail outs and internet listings. Also, Fast Track Couriers has an 87% customer retention rate. The Sales and profits of the company have increased over the past years at 5% and the owners are looking to move forward towards delivering in NSW regional areas.
Table of Contents
Description of the Business……………………………………………………. Pg 10
Business product/ services……………………………………………………… Pg 10
Marketing Activity……………………………………………………………… Pg 10
Business Operations…………………………………………………………….. Pg 10
Management and organizational structure……………………………………… Pg 11
Personnel plan…………………………………………………………………… Pg 11
Financial Plan – Forecasting…………………………………………………….. Pg 11
Physical resource plan…………………………………………………………… Pg 11
Risk (Risk...
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