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BSBMGT617 Develop and Implement a Business Plan Assessment 02- Written Response and Project Section A: Written Response
1. Explain in a paragraph why it is important to regularly review and evaluate existing strategic, business and operational plans when developing a business plan.
2. Describe in a paragraph why is it crucial to consult with key stakeholders when reviewing and developing a business plan?
3. Explain in a paragraph why is it important to constantly review market requirements for an organization’s products and services?
4. How does including a comprehensive customer profile in a business plan help an organization?
5. What information can a customer pricing options involve?
6. Explain in a paragraph what does researching pricing options involved?
7. Describe the crucial step of setting performance objectives and measures in a business plan.
8. Describe why a manager must take responsibility for ensuring that permits, licences and relevant legislation are addressed in a business plan. Give examples to illustrate.
9. Describe the process for preparing a business plan that ensures the content will be easily understood.
10. Describe in a paragraph why it is necessary to test performance measurement systems.
11. Explain in a paragraph how a manager can ensure that reports on all key aspects of the business are available on time, and are user-friendly and balanced in terms of financial and non-financial performance.
12. Explain in a paragraph why is it crucial to report system failures, product failures and variances to the business plan as they occur? Provide an example of a product, service of system failure.
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13. Describe methods to use analyze performance reports against planned objectives.
14. Describe corrective actions that required following a performance analysis.
15. Explain methods for monitoring performance and identifying opportunities for improvement
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Section B - Project
Developing and Implementing a Business Plan at BizOps Enterprises
Task Overview and
Context
You received an email from Rose Hargreaves, Chief Executive Officer.
Subject: Change at BizOps
Hello,
As you know, BizOps is planning to act on the recent research that has been undertaken as part of its annual scoping of the strategic planning process.
Three changes have been identified:
• BizOps plan to increase customer service satisfaction by purchasing and implementing state-of-the-art customer relationship management software, to be established by June. Customer service staff will need to be trained.
• A decision has been made to develop a new luxury hamper product that reflects BizOps’s sustainability environmental policy. Competitors already have a basic one at the low-end of the market, but research shows they are seeking to move into luxury market. BizOps currently has 10% of this market, but wants to increase this to 15% by the end of quarter 4.
• There is a need to introduce a new mentoring program for team leaders and supervisors.
As a result, the business and operational plan must be reviewed and the existing business plan revised, redeveloped, implemented and monitored as part of BizOps’s continuous improvement cycle.
As arranged at the recent management meeting, I would like you to review the current business plan and revise or add to the objectives and performance indicators. Seek advice from stakeholders where appropriate and present your revisions to the management group by 28 May. You will find the business plan revision document in the ‘resources required’ section. As part of our improvements, I would also like you to develop a mentoring program for team leaders and supervisors, and arrange training for the customer service staff for the new CRM software.
Regards,
Rose Hargreaves
Chief Executive Officer
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Instruction to the Student Your first task is to access and read the following BizOps organizational information and procedures:
• Company business plan
• Organization operational plan
• Continuous improvement procedure
• Risk management procedure
See the “Resources for the Project Task” in Moodle.
You are required to demonstrate the skills of running a business operation by providing examples of your work in developing, implementing and monitoring a business plan by responding to the task below.
Resources Required The following materials are required for this project to be completed:
• Computer and office software
• Access to “Resources for Project Task” in Moodle for the following:
- Company-business-plan.pdf
- Organization-operational-plan.pdf
- Continuous-improvement-procedures.pdf
- Risk-management-procedures.pdf
- Bizops-business-plan-revision-document.dox
Question 1.
Review and revise the Business Plan to ensure it reflects the changes in strategic directions and provide the comments where required.
• Check that vision, mission and values are current.
• Check whether the changes are in line with the current objectives or whether new objectives need to be written.
• Write performance measures for the introduction of the CRM software, the production of the luxury hamper and the mentoring program.
• List the financial, human and physical resources required.
• List the specific legislation or regulations that the hamper needs to comply with.
• List the stakeholders you will consult with and how you will communicate with them.
• Review the market requirements for the new product and list pricing options.
• Analyse the strength and weaknesses of the business plan.
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Question 2.
Prepare a Power Point Presentation (of no more than 10 Slides) to communicate the Business Plan changes to management to ensure their understanding of performance requirements and time frames.
Question 3.
Explain how you will ensure that skilled labours are available to implement the changes to the plan.
Question 4.
Describe how you will monitor and respond to the business performance of the three changes in relation to:
• Profit and loss
• Community awareness
• Environmental impact
• Governance
• Quality
• Sales
• Triple bottom line (environmental impact, social impact, financial position).
Question 5.
Develop a continuous improvement checklist to use to review system processes and work methods and ensure system failures, product failures and variance are reported and acted upon.
Note for Students:
Student must produce and provide the followings:
^ A reviewed and revised of the Business Plan.
^ A communication plan to communicate the revised Business Plan.
^ A report that describes how skilled labour will be available to implement the changes to the plan.
^ A description of how the business performance of the changes will be monitored and responded to.
^ A continuous improvement checklist for system processes and work methods.
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Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371CRICOS Provider Code: 02870D
North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 99553888
Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 99553888
BSBMGT617 Develop and Implement a Business Plan Assessment Task 02 - Marking Checklist
Assessment Specification Satisfactory
Yes No
Did the Student submit the required assessment in the specified timeframes?
Did the Student meet the following Requirements: Satisfactory
Yes No
Section A
Important to regularly review and evaluate existing strategic,
business and operational plans when developing a business plan
Reasons to consult with key stakeholders when reviewing and developing a business plan?
Reasons to constantly review market requirements for an
organization’s products and services?
Comprehensive customer profile in a Business Plan.
Information for customer pricing options.
Information for researching pricing options.
Steps of setting performance objectives and measures in a business plan.
Permits, licenses and relevant legislation in a Business Plan.
Process for preparing a Business Plan.
Performance measurement systems.
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Did the Student meet the following Requirements: Satisfactory
Yes No
Reporting process of business.
Reasons to report system failures, product failures and variances to the business plan as they occur.
Methods to use to analyze performance reports against planned objectives.
Corrective actions required to follow performance analysis.
Methods for monitoring performance and identifying opportunities for improvement.
Section B
Review and revise the Business Plan to ensure it reflects the changes in strategic direction.
Presentation to communicate the Business Plan changes to
management.
Ensure the availability of skilled manpower to implement the changes to the plan.
Monitor and respond to the business changes.
A continuous improvement checklist to review system processes and work methods.
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