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1. Develop a business Monitoring and Evaluation Report Develop a business Monitoring and Evaluation Report that addresses: An overview of business performance based on the data provided for this year,...

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1. Develop a business Monitoring and Evaluation Report
Develop a business Monitoring and Evaluation Report that addresses:
An overview of business performance based on the data provided for this year, as well as the data provided for the previous year (as documented in the scenario information for Assessment Task 2).
An analysis of business performance to determine if the performance indicators have been achieved.
An evaluation of the non-financial information gained from the survey, impact on the business and variations that could be made to the business plan based on this information.
A review of additional performance measures that can be used to measure customer retention and customer satisfaction based on the decrease in residential customers as advised in the scenario information.
You will need to research the range of performance measures that could be used and report on performance indicators that you consider to be suitable.
Your report should include a clear explanation of the performance indicators and your rationale for using these indicators.
An evaluation of the strengths and weaknesses of the business plan (the plan you developed for Assessment Task 2) and recommended improvements.
Review the information at the link below and for each component of your business plan.
Provide an assessment of your plan, noting that some areas may not have been covered.
Provide an overall assessment of the strengths and weaknesses of your plan based on your assessment.
http:
coba.belmont.edu/fac/schenkelm/etp3000/Course_Documents/Business%20Plan%20Assessment%20Template.pdf
Provide a summary of recommendations for the upcoming year based on your evaluation as above, as well as required changes to the business plan.
Assessment Task 3 Instructions


Carefully read the following:



It is one year since the business plan was implemented and as the Operations Manager, you are rev iewing
the performance of the business against the performance indicators identified in the plan, testing performance
indicators used and recommending changes to performance indicators as provided.

You have also been asked to provide an overall evaluatio n of the strengths and weaknesses of the business
plan to date (this will be the Business Plan you developed for Assessment Task 2).

Assume that the performance indicators identified in the business plan are as follows:
 A 20% increase in total sales revenue.
 A gross profit margin of 20%.
 Reduction of 50% in debtor days
 10 new commercial customers in the first year of the business plan.
 Reduction of 10% of workforce turnover based on employing two full -time permanent cleaners, as well
as increasing wages to above award.

Data provided by the accountant for this financial year show the following figures:
 Total sales revenue: $450,000
 Total cost of sales: $320,000
 Debtor days: 30
 15 new commercial customers

The Administration Manager has advised you th at at least 10 of the previous residential customers no longer
use the company’s services, so while sales revenue has increased, the sales revenue attributable to
esidential sales has declined.

In addition, follow up emails to the customers who no long er used the services indicated the following
esponses to the question asked about why they no longer use the services:
 Moved interstate: 1
 Dissatisfied with the quality of cleaning services provided (not enough attention to detail, cleaner finishing
earlier than time paid for): 5
 Moved to a competitor as better service and price offered: 4


Complete the following activities:
Answered Same Day Aug 09, 2021

Solution

Swati answered on Aug 12 2021
133 Votes
Business Monitoring and Evaluation Report
Financial Evaluation
Oz house Cleaners are performing well in market since last 1 year. There financial growth has been tremendous. Total sales revenue generated this year is $4,50,000 which was $3,60,000 last year. Also, total cost of sales was $3,20,000 depicting the profit of $1,30,000 this financial year. Last financial year the profit margin was $40,000. Debtor days have reduced to 30 days this year which was 40 last year along with engagement of 15 new commercial customers. Sales revenue has increased this year but 10 residential customers have backed off and have moved either to other service providers or are dissatisfied with the quality and only 1 has moved interstate to discontinue the services. So, the sales attribute has decreased. Also, the employee turnover has reduced significantly due to several benefits, motivation and work culture has been provided along with job.
    Performance Indicators
    Targeted
    Achieved
    Total sales revenue
    20% increase
    20%
    Total gross profit margin
    20% increase
    69.23%
    Debtor days
    50% decrease
    25%
    New commercial customers
    10
    15
    Workforce turnove
    10% Reduction
    10%
Non financial evaluation-
Ozhouse cleaners have grown and developed its reach to commercial customers and fetching good business from new 15 commercial customers but with respect to existing 40 residential customers, there has been turnover of 10 due to varying reasons majorly because of quality and the time. As the Residential customers has turned back significantly, it impacts the business as follows-
· Word of mouth and reputation of company may get harmed
· Decline in sales in context of Residential services.
· Non-competitive in market.
· Rise in complaints.
To combat this, Oz house needs to do work on it with the help of some strategies and actions. Some of which are following-
· Pay more attention to details.
· Complete job in specified time (neither less nor more)
· Follow competitive pricing strategy
· Quality check
· Feedback from customer
Additional performance measures for measuring customer retention and satisfaction includes-
· Seeking continuous feedback from customer.
· Taking a follow up with the instructions provided and followed by staff.
· Customer satisfaction survey may help to get the data.
· Social media monitoring is another way to measure the satisfaction and retention of customers.
Performance measures- several performance measures may be used to assess and analyse the performance of Ozhouse cleaners. Some of these are as...
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