Assessment Task 1 (BSBMGT617) Develop business plan Submission details Candidate’s name Phone no. Assessor’s name Phone no. Assessment site Assessment date/s Time/s The assessment task is due on the...

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Assessment Task 1 (BSBMGT617) Develop business plan Submission details Candidate’s name Phone no. Assessor’s name Phone no. Assessment site Assessment date/s Time/s The assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor. Submit this document with any required evidence attached. See specifications below for details. Performance objective You will demonstrate the skills and knowledge required to research, analyse and develop a business plan. Assessment description There are two parts to this assessment. Part A Use 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 B Review the completed business plan (see Appendix 2). Analyse the strengths and weaknesses of the plan, and prepare a written report of your findings. Procedure Part A 1. 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 B Business 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. Specifications You 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? Adjustment for distance-based learners: · No variation of the task is required. · A follow-up interview may be required (at the discretion of the assessor). · Documentation can be submitted electronically or posted in the mail. Assessment Task 1BSBMGT617 Develop and implement a business plan © 2015 Innovation and Business Industry Skills Council Ltd1st edition version: 1 Page 1 of 21 Appendix 1: Fast Track Couriers General Information History Fast Track Couriers is a courier company operating in New South Wales for the last 15 years. Their primary business function is delivering medium to large size packages across metropolitan Sydney. The business has a good reputation in the marketplace for reliability and value for money. After a slow start entering the competitive delivery market, Fast Track Couriers has built a solid reputation over the past 12 years, and this has been reflected in their growth and profit margins. Fast Track Couriers primarily targets small to medium-sized business which make up 80% of their customer base. They are limited by their geographic location, as they currently do not deliver outside of the Sydney metropolitan area. The company has been marketed through direct sales, telephone, internet listings and mail-outs. Through a program of telephone follow-up to ensure customers’ ongoing satisfaction with the business, Fast Track Couriers has an admirable 87% retention rate for existing customers. Although sales and profits have increased each year by an average of 5%, the owners are looking to move forward by delivering to regional areas in NSW. Organisational structure The organisation is family owned, with three family members acting as a Management Board and responsible for approving all business decisions. · Managing Director – responsible for daily operational management decisions. · Logistics Manager – responsible for the scheduling of the trucks and drivers. · 20 truck drivers. · 5 office support employees – responsible for administration, accounts, human resources and sales. Strategic plan goals The organisation’s strategic goal is to grow the business and increase business profits over the next three years by expanding delivery routes to include regional NSW. Operational plan goals Fast Track Couriers will: · commence deliveries to regional NSW within 12 months · increase sales by 40% in the next three years. Background The owners of the business are not risk takers. They are aware that their ongoing success is the result of a small, experienced team, close personal ties with clients and a reputation for reliable, low cost service. Moving forward, their vision for the company is to retain those strengths and core values through any expansion process. The strategic and operational plans were developed as a result of external market research, indicating a shortage of delivery organisations providing services to regional NSW towns. Fast Track Couriers were looking for their next growth opportunity and saw that this was an ideal opportunity to be seized upon. It was also felt that the company was now sufficiently stable and experienced, and in a financial position to expand the business without risk to their current financial stability or reputation. Reports from the Sales Manager indicated that contracts have been lost because some clients want to engage a courier who can deliver to their regional offices, in particular Newcastle, Wollongong and the Central West. Fast Track is currently unable to meet this demand and therefore some potential clients have been lost. This became a motive to expand operations for both financial and customer service reasons. Proposed strategy Fast Track Couriers currently allocates two drivers per truck to ensure that drivers are able to load and unload heavy packages. The strategy going forward is to remove the need for two drivers per truck by installing an automatic lift gate on the back of each truck, at a cost of $10,000 per truck. This will mean that only one driver is needed per truck, as no heavy lifting will be required. This will allow Fast Track to purchase 10 new trucks and use the existing drivers for regional routes. Each new truck will cost $60,000 (including installation of an automatic lift gate). The money to purchase the trucks will be borrowed from the bank on a business loan. Financial information Annual sales Current sales Estimated sales (Yr 1) $17 million $22 million Annual net profit Current net profit Estimated net profit $1.9 million $3.2 million Increased costs Loan repayments Operating costs (fuel, servicing, etc.) +$200,000 per annum +$2.2 million Administrative costs Labour costs +$100,000 Nil General information The company communicates with employees via email for head office employees, and a printed monthly newsletter for drivers. The company provides information regarding policies and procedures through employee manuals that are kept in each truck. Office-based staff can access copies of these manuals in the office. All trucks are fitted with a GPS system to assist drivers in navigating to each pick-up and drop-off location. Trucks are also assigned a PDA that provides drivers with the details of each delivery, and records when a job starts and finishes. The data from this device is sent back to head office to complete productivity reporting. When this device was introduced, drivers were not happy as they felt it meant that the organisation did not trust them to manually record the time spent on each job. Many drivers also resented having to learn how to use the device and thought it was a waste of time. Head office employees work very closely together as a coherent and motivated team. They are generally positive about the organisational direction and respond well to change. Drivers are currently happy with the work environment, as they enjoy working as part of a two-man team. The Logistics Manager typically leaves the drivers alone to do their job as this is what seems to make them happy. In the past, supervisors and HR have tried to encourage drivers to participate in organisational activities, but this was not received well –the drivers complained and asked not to be involved. The drivers’ view is that their team is the two-man driver team, and they seem to like the comforts of that working environment. Drivers are typically negative about change. They have, in the past, done their best to block any changes from being implemented, even going to the lengths of threatening strike action and getting the Union involved to assist in resolving the issue. Summary of current employee populations Head office employees · covered under individual contracts · salary range $32,000 – $75,000 annum · small team of mainly male employees, with a wide range of ages · many opportunities to participate in learning and development programs due to management support, however, have shown little interest · high employee engagement scores, citing team work and opportunities have contributed to the company’s success as real motivators. Drivers · covered by an award · salary $45,000 per annum · heavily unionised · employee demographics are all male employees, aged 25–65. ·
Answered Same DayMar 19, 2021BSBMGT617Training.Gov.Au

Answer To: Assessment Task 1 (BSBMGT617) Develop business plan Submission details Candidate’s name Phone no....

Kuldeep answered on Apr 05 2021
153 Votes
Business Plan
Business Plan
Student Name
University Name
Unit Name
Unit Code
Contents
Executive summary    2
Introduction    2
Description of the business (background)    2
Business products and services    3
Marketing activity – the market    3
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    5
Management and organisational structure    6
Proposal    6
Financial background - trading to date; and forecasts    7
Risks (risk analysis) - include a section on how you will ensure skilled labour is available to implement the plan, such as a recruitment or trai
ning strategy; Licensing; and include any permits or licences required    7
Conclusion    9
Communication strategy: Produce a report or document which covers the following areas:    9
The process you used to develop the business plan    9
Who are the key stakeholders?    10
What information will each person (position) require?    10
What are the relevant timeframes?    11
How will you communicate this information?    11
How will you ensure their understanding of their role in implementing the business plan?    11
In Part B:    12
The report is properly formatted and logically structured.    12
Identify relevant strengths and weaknesses of the plan, including discussion on the following areas:    12
Compare and contrast with text book structure and layout.    12
Comment on quality and relevance of information.    13
Comment on quality of information, i.e. did the business plan demonstrate adequate research on competition market conditions?    13
Comment on quantity of information – was there sufficient information to determine the likely success of the business in accordance with its performance measures?    13
Were the performance measures specific and realistic?    14
Was the document well set out, easily understood and pitched at an appropriate level for the reader?    14
Table of contents
Executive summary
The initial primary services provided will be nationally recognized qualifications for Level 4 Business (frontline management) and Level 4 workplace assessment and training. We will also provide service fee training tailored to individual customer needs. Quality training will also explore the opportunities to expand its scope to exploit business opportunities and meet customer needs. The local market for this business is growing as well as open to fresh service providers that offer exceptionally personalized service. A preliminary financial analysis of the feasibility of this venture capital indicates that quality training maximizes profit opportunities, has little ongoing capital expenditures, and has sufficient funds to offset the need for debt. Operating costs are low due to the way the owner/operator operates.
Introduction
Description of the business (background)
FAST TRACK SERVICE is Australia's most recognized and largest package delivery and shipping delivery distributor. We integrate the service of world's top shipping and parcel companies into single access point under our product or brand - allowing our consumers to save money, trouble and time on each of them logistics requirements.
The goal of the Fast Track Couriers marketing program is to streamline the increase, which is a new way of doing business that will strengthen its products. Ultimately, Fast Track Couriers is designed to ease concerns of personal and corporate Courier planners by provide an upscale one-stop resolution for distributing packages, security and other privacy.
Business products and services
Company history: 12 years of robust performance; identified demand for increased delivery area; loyal customer base; good retention of existing customers
Description of the business
Company history: 12 years of strong performance Fast Track Couriers will soon achieve direct benefits, which will save costs for corporate customers. Customers are increasingly aware that their Courier and planning features can be out-sourced, and they may more easily attain their objectives throughout the Couriers without having to     expand their courier department. In an end, customers will carry couriers as their services are cheaper and successful, thus establishing a long-term relationship with Fast Track Couriers and their values. Determined the need to increase delivery area; loyal customer base; retain existing customers well
We offer our customers a wide range of shipping, courier, postal, shipping, and handling service with no restrictions on size, values and weight of the items being processed. Regardless of the delivery time, customer's budget, and reliability requirements, we may provide solutions. We have the expertise and resources to provide (and receive from) some destination on planet.
There are the several factors that make us stand out in fast-track services - but no more important than providing customers with the power to choose. We provide services to our customers through the National Retail Service Center network for customer access or phone calls. We also offer a convenient online "quote, reservation and payment" courier service. FAST TRACK SERVICE also provides e-commerce logistics solution for online retailer.
Business operations:
○ Performance and Productivity targets in key outcome areas (after agreement and consultation with key stakeholders - evaluators)
○ Performance and Productivity targets for the main results areas must be realistic, such as sales growth of 10 to 15% / 10% increase per year
○ Includes financial and non-financial performance indicators
Marketing activity – the market
Market analysis chart is an area with a radius of ten miles.
The business market is distinct as an enterprise that holds at least one off-site messenger every year. Company often provide audiovisual or public relations requirements with their Couriers, which might provide marketing capabilities for businesses. Whether it’s entertainment news, customers and board members, companies need delicious food, professional execution, as well as beverages, and consistency between Courier manager/catering service providers and Courier business goals.
The personal markets include households with family income of more than $80,000 a year (the mainly likely to be a high-end messenger at a rental site). This group has put a lot of pressure on Couriers and needs more attention because Couriers may not be common to them. They need to work and plan and expert advice moreover recommendations through the process.
A market non-profit is distinct as the non-profit organization that holds at least one off-site messenger each year. Some non-profit organizations are aware of the benefits of paying great couriers who can actually increase awareness of organization and donations, while other non-profit organizations get the lowest price at an acceptable minimum quality level.
The fast track Courier has traditionally focused on the private and corporate markets. With the launch of the Grand Ballroom, they will continue to focus on this focus. Private customers, although they need extra labor and hand-held fees, may charge higher rates than corporate customers. In addition, they help companies “recession” by providing more stable incomes during the recession.
Corporate business can result in repeated engagements with customers with annual or even quarterly express delivery, and the value gained as a customer is more valuable than that of a private customer, even if the margin percentage per express is lower.
Non-profit customers typically seek low-cost providers moreover privacy, and although they do seeks Courier without the marketing to the group, the businesses bids are often not accepted. Courier will continuous to select particular non-profit organizations to sponsor Couriers to build visibility for strategic reason and based on the philanthropy of the owner, however will not directly market to the non-profit organizations.
Fast Track Couriers will create a temporary “one-stop shop” by...
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