Develop and implement business plans
BSBOPS601 Develop and implement business plans Task 2 – Performance and Skills Assessment Task summary This assessment is to be completed using the Bounce Fitness simulated work environment. Required Access to textbooks/other learning materials Access to Bounce Fitness site via Canvas Computer with Microsoft Office and internet access Timing · Your assessor will advise you of the due date of this assessment via Canvas. Submit · This completed workbook Assessment criteria For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all the assessment criteria. If part of this task is not satisfactorily completed, you will be asked to complete further assessment to demonstrate competence. Re-submission opportunities You will be provided feedback on your performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task. If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date. You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal. You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment. Assessment Cover Sheet Candidate name: Candidate ID Trainer’s Name: Date Submitted: Candidate declaration: I declare that: · I have read and understood all the information provided in relation to the assessment requirements to complete this unit, the instructions and the purpose and processes of undertaking this assessment task · This assessment is my own work and where other’s works or ideas have been used, I have appropriately referenced or acknowledged them · I understand that plagiarism is a serious offence that may lead to disciplinary action. Candidate signature: Task 2 –Case Study Read through the following case study and then complete all the tasks. Case Study Although Bounce Fitness is known in the local community, it is seeking an extended presence and identity to promote the organisation’s unique approach and lifestyle vision to an older audience. This will include a new initiative called Bounce Fitness: Fitness in Maturity and focus on specifics such as weight, health, and flexibility. You have three (3) months to plan and advertise this new initiative. Target Audience: Bounce Fitness’s target audience is over 50 years of age and considered ‘old school’. Starting from the initial contact and assessment, these individuals are looking for innovative, effective and convenient solutions for their needs. They may have already heard of Bounce Fitness, but are looking for additional information. They may have weight or health issues or concerns (diabetes, restricted mobility etc.) and have an interest in improving their fitness but have not addressed these needs until advised by their health provider of the necessity. Experience, connections, and quality are important factors in the decision-making process. The group has limited understanding of computers and does not tend to pursue difficult processes for gaining information online. They have a comfortable disposable income but spend carefully and must-see real value. They tend to read extensively and are large subscribers to newspapers and magazines. Communication Strategy: Print advertising will provide information and should emphasise the ‘user-friendly’ and health-knowledge side of the business for the older, less experienced and self-conscious individual. The health assessment and support must be clear as this will provide security and comfort. The online information will provide profiles, special offers, featured health articles, and company information. It will be mostly a brochure-type site with database origination. Task 2 requires you to analyse and research the business vision, mission, values, objectives, goals, competitors, financial targets, management arrangements, marketing approaches and strategic, business and operational plans to produce a targeted business plan designed to raise funding and support for the project. To achieve this, you must complete the following questions using the Case Study and the additional information from Bounce Fitness You will also be required to conduct independent research. Part A – Develop business plan 1. Using the Vision, Mission, Values, Business Strategy, Objectives and Key Performance Indicators analyse and interpret each in relation to the project. How do they meet the requirements of the organisation in each area? Answer: 2. What are the organisational and legislative frameworks relevant to this project? Answer: 3. Referring to the organisational Hierarchical Structure, discuss who would be appropriate to consult, how you would consult (include timelines) and your reasoning for consulting with your chosen individuals. These individuals will be your key stakeholders. Answer: 4. Conduct your own research and report on the market requirements for the Case Study in terms of competitors, customer needs and pricing options. Answer: 5. Develop performance objectives and measures and discuss how you would gain input from key stakeholders. Answer: 6. Outline how you would consult with key stakeholders to discuss your performance objectives and measures, as discussed in Q4, above. · If you would consult via email, write an email to consult with the key stakeholders to discuss performance objectives and measures. Assume that they reply to your email, and include recommendations from the key stakeholders below. · If you would have a meeting, hold a meeting with the key stakeholders to discuss performance measures and objectives. (This could be your classmates, housemates, friends. The meeting does not have to be recorded). Include recommendations from the key stakeholders below. Answer: 7. What financial, human and physical resources will be required to implement your chosen option? Answer: 8. Are there any licenses or permits that will be required to implement your chosen option? If so, describe what these are and how you will obtain them? Answer: 9. Bounce Fitness already has a business plan (see additional information), However, you are to produce a new business plan appropriate to the Bounce Fitness: Fitness in Maturity Brief intended to be used to raise funding or promote the venture. Your business plan must include at a minimum: • Description of the business • Community awareness or branding • Environmental impact • Governance • Products and services • Quality • Financial, physical and human resource requirements • The workforce • Permit and license requirements • Marketing activity • Sales • Financial indicators: • Profit and loss • Triple bottom line (abbreviated as TBL or 3BL) is an accounting framework with three parts: social, environmental (or ecological) and financial. These three divisions are also called the three Ps: people, planet and profit, or the ‘three pillars of sustainability’). • Productivity and performance targets for key result areas. · Communication plan Answer: Part B – Monitoring the plan You must complete the following Tasks using the business plan you have designed in Part A. 10. How will you communicate the business plan to all relevant parties and ensure understanding of performance requirements and timeframes? Answer: 11. How will you ensure skilled labour is available to implement the plan and how will you manage training if required? Answer: 12. How will you test and evaluate the performance measurement systems and refine, if necessary? Answer: 13. How will you ensure timely reports on all key aspects of the business are available, user-friendly and balanced in terms of financial and non- financial performance? Answer: 14. How will you report system failures, product failures and variances to the business plan as they occur? Answer: Part C – Respond to performance data Respond to the performance data of a business plan. To enable you to achieve this, discuss each of the following points for the business plan that you created and use the ‘Fitness in maturity advertising brief review’ document from Bounce Fitness 15. Analyse the performance reports against planned objectives. Review the performance indicators and refine if necessary. Outline the strengths and weaknesses of the business plan. Answer: 16. Are any groups or individuals under-performing? If so, how will you ensure groups and individuals who are under performing are coached, and necessary training is provided. Answer: 17. How and with what frequency will you review system processes and work methods as part of continuous improvement? Answer: End of Assessment! IH Sydney Training Services Pty Ltd RTO Code: 91109 CRICOS Code: 02623G 2 | Page BSBOPS601 Develop and implement business plans Task 1 – Knowledge Questions Task summary · This is an open book knowledge test, to be completed in your own time. · You need to answer all the written questions correctly. Required · Access to textbooks/other learning materials. · Access to a computer and Microsoft Office. · Access to the internet. Timing · Your assessor will advise you of the due date of this assessment via Canvas. Submit onto Canvas This completed workbook Assessment criteria · All questions must be answered correctly for you to be assessed as having completed the task satisfactorily. Re-submission opportunities · You will be provided feedback on your performance by the Assessor via Canvas. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task. · If any parts of the task are not satisfactorily completed, the assessor will provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date. · You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal. · You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment. Assessment Cover Sheet Candidate name: Candidate ID Trainer’s Name: Date Submitted: Candidate declaration: I declare that: · I have read and understood all the information provided in relation to the assessment requirements to complete this unit, the instructions and the purpose and processes of undertaking this assessment task · This assessment is my own work and where other’s works or ideas have been used, I have appropriately referenced or acknowledged them · I understand that plagiarism is a serious offence that may lead to disciplinary action. Candidate signature: Task 1: Knowledge Questions Question 1 Outline the processes that you will use to develop the business plan for Bounce Fitness in Task 2 Answer: Question 2 Describe performance objectives and measures that you have identified for the business plan for Bounce Fitness in Task 2 Question 3 Identify the key