Assessment Task 1 (BSBMGT617)Develop business planSubmission detailsCandidate’s namePhone no.Assessor’s namePhone no.Assessment siteAssessment...

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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 1BSBOPS601 Develop and implement business plans © 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. · few opportunities to participate in learning and development programs due to being on the road, however, have shown very little to no interest · large number of workplace injuries due to heavy lifting · low employee engagement scores, citing pay as an issue · currently experiencing low turnover Assessment Task 1BSBMGT617 Develop and implement a business plan · history of industrial disputes regarding pay and other change initiatives. © 2015 Innovation and Business Industry Skills Council Ltd1st edition version: 1 Page 8 of 21 Appendix 2: Business Plan – Quality Training Business Plan QUALITY TRAINING Table of Contents 1.0 Executive summary11 1.1 Objectives11 1.2 Mission12 1.3 Keys to success12 2.0 Company structure13 2.1 Company ownership13 2.3 Company locations and facilities13 3.0 Services14 3.1 National recognised qualifications14 3.2 Stand-alone (Fee for Service training)14 4.0 Competitive comparison15 4.1 Analysis of competitors15 4.2 Risks and opportunities15 4.3 Strategies to overcome perceived threats and weaknesses17 5.0 Market Analysis Summary18 5.1 Market trends18 5.2 Marketing strategy19 5.3 Marketing materials19 6.0 Pricing strategy20 7.0 Review of business plan21 1.0 Executive summary Quality Training has been operating as a Registered Training Organisation for 12 months. Following is a summary of the main points of this plan. · The objectives of Quality Training are to generate a profit, grow at a challenging and manageable rate and to be a good corporate citizen. · The mission of Quality Training is to exceed our customers’ expectations by providing them with effective training and development services, relevant to their needs and in line with national quality standards. · The keys to success for Quality Training are marketing and networking, responsiveness and quality, and generating repeat customers and word -of-mouth business. · The initial primary service offered will be nationally recognised qualifications Certificate IV in Business (Frontline Management) and Certificate IV in Workplace Assessment and Training. We will also offer Fee for Service training, tailored to individual client needs. · Quality Training will explore opportunities to extend its scope to maximize business opportunities and meet customer needs. · The local market for this business is growing and is open to new service providers who can offer superior individualised services. · An initial financial analysis of the viability of this venture shows that Quality Training is well positioned to maximise on profit opportunities, has few ongoing capital expenses and has sufficient funds to negate the need to go into debt. Operating costs are minimal due to the owner/operator style of operation. · During 2006–2007, the intention will be to use opportunities gained through existing client networks and scope extension to grow the business and increase trainee numbers. · In 2005 (for 2006), Quality Training will
Answered 6 days AfterDec 29, 2022

Answer To: Assessment Task 1 (BSBMGT617)Develop business planSubmission detailsCandidate’s...

Shubham answered on Dec 31 2022
8 Votes
Assessment 1
Part A
Executive summary
The study includes providing the description of Fast Track Couriers. It includes defining marketing activities of the business along with categories of services that are offered by the business. The marketing includes using social media channel for r
eaching most number of users. It is estimated to have the growth of 5% per year. The risk in the business includes delay in shipment and damage of the parcel.
Introduction
The study describes about business plan for Fast Track Couriers. Courier services handle everything, from shipping to duty and tax costs, and allow you to track your last mile delivery as it makes multiple stops before arriving at its destination. It can concentrate on making parcel deliveries as simple as possible. It includes describing about the plan and services that are offered by the business.
Description of the business (background)
Fast Track Couriers is the courier company and the business function includes delivering packages. The strategic goal includes growing the business and it can help in increasing the business profits. It includes expanding the delivery route. The operational goal of Fast Track Couriers is providing commerce deliveries to the regional NSW in 12 months. It can help in increasing sales of the business by 40% in the next 3 years. The business strategy includes allocation of drivers for ensuring that drivers have the ability for unloading and loading heavy packages.
Business products and services
The service includes option for the overnight services. It ensures that the parcel gets delivered in 24 hours. The parcel can be transported to local depot closest to the delivery address in the early hours. It ensures providing services and ensures that it can reach right person at right time. It provides time of estimation along with tracking ID. The service is ideal for most places. It provides with inexpensive service for all types of couriers and it ensures emergency delivery for medical supplies, accounting forms and hospitals.
Marketing activity – the market
The communication plan for the business includes analysis of information and it provides good ideas for collecting feedback from partners, employees and clients. This required development of taglines for describing the business and it should use key messages across all communication efforts (Franco‐Santos and Otley, 2018). It requires defining the target audience for communication and it can help in identifying segments of customers. The selection of communication channels is best suited for reaching the target audience and it requires cost-benefit analysis that can help in narrowing down the analysis. It is used with the combination of digital and traditional channels. The communication plan should include defining a group of stakeholders that will receive messages.
Business operations
The strategy includes...
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