Answer To: BSBMGT617 Develop and Implement a Business PlanASSESSMENT COVER SHEET(Please ensure this cover...
Tanmoy answered on Nov 05 2022
BSBMGT617 Develop and Implement a Business Plan
ASSESSMENT COVER SHEET
(Please ensure this cover sheet is completed and attached on top of each assessment)
QUALIFICATION CODE AND TITLE: SIT60316 Advanced Diploma of Hospitality Management
UNIT CODE: BSBMGT617 TITLE: Develop and Implement a Business Plan___________
Assessment Name and Number
Assessment Task Number and Name
Assessment Due Date
☐ SATISFACTORY ☐ UNSATISFACTORY
FINAL OVERALL RESULT
☐ COMPETENT ☐ NOT YET COMPETENT
I declare that:
· This assessment is my own work, based on my own study and research and no part of it has been copied from and other source except where due acknowledgement/reference has been made.
· If this assessment was based on collaborative/teamwork, as authorized by the trainer, I have not submitted the same final version of any assessment material as another student.
· I have not previously submitted this assessment or any part of this assessment for this or any other course/unit.
· I have kept a copy of my assessment.
· I give permission for my assessment to be reproduced, communicated, compared and archived for the purposes of detecting plagiarism.
· I understand that plagiarism is the practice of taking someone else’s work or ideas and passing it off as one’s own work and that the attached assessment maybe checked for plagiarism.
· I understand that collusion is presenting another person’s assessment as one’s own and/or providing your own work to another person to allow them to pass it off as their own.
· Any assessment deemed unsatisfactory will require me to undergo reassessment which may be different to the one originally submitted.
· I am aware that in the event that I disagree with the assessment outcome I have the right to appeal that result. I will follow the complaints and appeals process.
· A late submission fee of $100 per assessment will apply if the assessment is submitted after the scheduled due date unless a formal extension has been granted by the Program Manager or Course Co-ordinator.
Student Signature: Date:
ASSESSMENT SUMMARY SHEET
To be deemed competent students must have a satisfactory result recorded for each assessment activity. If a result is not satisfactory for any assessment task, the trainer/assessor will determine the training and assessment tasks to be completed.
The student has been assessed as competent in the elements and performance criteria, performance evidence and knowledge evidence and in line with the assessment conditions. The students work submitted for this assessment is: ☐ Valid ☐ Sufficient ☐ Current ☐ Authentic
ASSESSMENT TASK 1
☐ NOT SATISFACTORY
☐ NOT APPLICABLE
ASSESSMENT TASK 2
☐ NOT SATISFACTORY
☐ NOT APPLICABLE
ASSESSMENT TASK 3
☐ NOT SATISFACTORY
☐ NOT APPLICABLE
Feedback to Student
The student has been given feedback and informed of the assessment result and the reasons for the decision.
Is this assessment subject to an appeals process
Outcome of appeal
Answer the following questions in brief.
1. Outline the processes for developing business plan.
There are no standard process or format for developing a business plan. Hence, it is essential that the proposal is being presented in a manner which is easy for the readers to understand. There needs to be a number system which will focus on the headings and sub-headings can be very useful. Hence, the process or main headings of the business plan will be as follows:
1. Executive Summary
2. Business Description
3. Rational for business success
4. Management and Organizational Structure
5. Marketing strategies and financial objectives and projections
6. The business operations
7. Administration of Human Resources
2. Describe performance objectives and measures including key performance indicators.
The performance objectives are known as the targets based on which the work-related performances of the individuals are followed. Further, it is the Key performance indicators which should be specific in nature, can be measurable and are easily achievable. Therefore, it is the KPI’s which can help in getting the necessary response as well as provide us with the right practice which needs to be adhered and communicate on the areas of improvement.
3. Identify and list any five key stakeholders.
The five key stakeholders which are essential and interested in the business plan of the company are as follows:
Owner of the company
Employees of the organization
Suppliers or vendors who supplies raw materials and goods to the company
Government of the nation where the organization operates it business
Customers who are interested in the products and services of the organization
The following task must be completed in a simulative environment where you need to conduct a roleplay following the guidelines given below. Also prepare a power point slide reflecting the key points discussed and demonstrated.
1. Analyze and research business vision, mission, values, objectives goals, competitors, financial targets, management arrangements, marketing approaches and strategic, business, and operational plans.
Vision: The Vision of Adore Hotel is open a door for the visitors from around the world as a true spirit of destination.
Mission: The ultimate mission of Adore Hotel is to provide high-quality hospitality services to the customers which will be of highest level and will help to gratify the expectations as well as the preferences and needs of the customers. Further, the aim will be to make Adore Hotel a destination which will be memorable with various events, services, amenities, and cuisines for future business success.
Values and Objectives: The main objectives of Adore Hotel will be to establish and maintain a long-term and consistent relationships with the customers. Gain access to the maximum market share in the hospitality industry in Australia and increase the market share by 35% within the first 5 years. Finally, emphasizing on innovation and upgradation of the Adore Hotel on a consistent basis for delivering a unique experience with respect to the services in-house to the large and small clients.
Competitors: There are various hotels in Australia which provides various services to the customers. The competitors of Adore Hotel will be hotels such as hotel Hilton, Crown Perth, Hotel Grand Chancellor, and Star Gold Coast (10 Times, 2014). These hotels provide various services and holds in-house events such as wedding ceremonies, parties, anniversaries etc. Adore Hotel in order to compete with these players and gain the maximum market share also incorporate these events in their hotel.
Financial targets: The financial target of Adore Hotel will be to achieve a growth of atleast 10% in each financial year over the past years. Also, within a period of 5 years, Adore Hotel is expected to achieve a net profit of $1000000.
Management arrangements: The management arrangement will be with respect to infrastructural setup, maintaining customer relationship and arrangement of various events.
Marketing approaches: The marketing of Adore Hotel will be done through word of mouth, social media and advertisement in newspaper and magazines of hospitality industry.
Strategic, business, and operational plans: The strategic plan of Adore Hotel will be to maximize its market share by providing high-quality customer services. The business plan will be to increase the growth of the hotel and expand itself globally. The Operational plan of Adore Hotel will be to delivery innovative and unique in-house services to the customers.
2. Write a business plan which includes
· a description of the business: The business is providing hospitality services and events spaces by Adore Hotel in Australia.
· products and services: The various products and services that will be provided by Adore Hotel are hotel rooms with 16 deluxe large rooms, café and restaurants, parlor and barber shop, event planning and catering services to the...