Develop and Implement a Business Plan

The Business plan will proceed and prepares a communication plan. Under this plan, the purpose of the plan has been addressed, the various stakeholders have been identified, the information that is shared have been outlined, and the purpose of communication, the recommendations or the various changes that are required has been mentioned. Lastly, the goal is to provide a solution to Grand wines on how they can use technology (Current Business Plan) and make customer happy receive their orders on time.

T1671.2.2 Comment on quality and relevance of information
The information from both of the business plan is competent and excellent. The information is also relevant since we can be able to see clear driven points.

T1671.2.3 Comment on quality of information, i.e. did the business plan demonstrate adequate research on competition market conditions?
The research that has been done is not deep enough to showcase both of the business models
T1671.2.4 Comment on quality of information – was there sufficient information to determine the likely success of the business in accordance with its performance measures?
The quality of information is good and also sufficient to the business model being analysed for the business plans

T1671.2.5 Were the performance measures specific and realistic?
• Summarizing projections and key lines in the profit and loss account, and comparing them to both historical results and the current year’s outturn;
• Commenting on the consistency of the accounting policies used in the preparation of projections with those used in historical accounts;

T1671.2.6 Was the document well set out, easily understood and pitched at an appropriate level for the reader?
The document is well set out for the user

T1671.2.7 Discuss the meaning of the business vision, mission, values and objectives and what they mean
• A detailed information with regards to meet customers’ expectation.
• A well described analysis about financial analysis and its mission
• The keys to success is beautifully presented.
• The queries such as how are goods and services produced and delivered to customers. Where are they produced? Have been described in both of the business plan but the detailed description can be found in Bryan’s tutoring service rather that in the former one.
The data presented in the business plan of Bryan’s Tutoring Service gives a very good overview of company’s structure and financial state.

T1671.3 Analyse and interpret the current business environment, goals and objectives embedded in the case study
Both of the companies don’t include a detailed description of all revenue streams (product sales, advertising, services, licensing) and the company’s cost structure (salaries, rent, inventory, and maintenance). Be sure to list all assumptions and provide a justification for them.

T1671.4 Consult with your assessor (assume the assessor is a key stakeholder) and discuss and agree upon performance objectives and measures.
• The services described in Quality Training is classified in different categories such as national recognized and stand alone.
• The services in Bryan’s include the price of each services being provided
Task 1672 – Develop a Business Plan for your organisation, a community group you’re involved in OR a case study listed in the assessment area.

 T1672.1 Submit a completed business plan

T1672.2 Consult with key stakeholder (assessor) and document the outcomes of the consultation

T1672.3 Submit a communication plan

T1672.4 The business plan must include the following:
• Table of contents
• Executive summary
• Introduction
• Description of the business (background)
• Business products and services
• Marketing activity – the market requirements including profiling customer needs
• Business operations:

  • Productivity and performance targets for key result areas (in consultation with key stakeholders)
  • Include financial and non-financial performance measures
  • detail resource requirements, including capital or financial equipment and other resources required to achieve business goals
  • Detailed Human Resources and the skilled labour both available and required to implement the plan
    • Management and organizational structure
    • Proposal
    • Schedule or program the first 6 months of activities for the plans implementation
    • Financial background
  • trading to date
  • 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
  • include any permits or licenses required
    • Performance objectives and measures in discussion with stakeholders (assessor)
    • Conclusion

T1672.5 Communication strategy
Produce a report or document which covers the following areas:

T1672.5.1 Who are the key stakeholders?
o Owner
o Employees
o Suppliers
o Unions
o Government
o Customer
o Environment

T1672.5.2 What information will each person (position) require?
The need to maintain current marketing activities and a high level of service and product quality to ensure its competitiveness. It needs to have a clear market position to target and promote the quality and value for money of products and service
T1672.5.3 What are the relevant timeframes?
Between 8 am and 12 pm

T1672.5.4 How will you communicate this information?
Through adverts and making of advertisments
T1672.5.5 How will you ensure their understanding of their role in implementing the business plan?
Maintain continuity of customer relationships
Maintain market share and sales through the change of ownership then grow market share to 40% in 18 months
Task 1673 – Monitor Performance

 T1673.1 Review a completed business plan from Project 1671

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.

T1673.2 Identify the key performance objectives
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.

T1673.3 For each key performance objective produce a report to capture and test the performance measure

T1674.4 Write a brief report on how you would test the performance measurement systems, including:

a. Acceptable levels of variance to planned objectives (where applicable)
b. The timeframe for each report – how frequently reports will be completed
c. What benchmarking will be used
d. Who will be the key stakeholder for each report

Task 1674 – Written Questions (Please remember to write a minimum of 4-6 sentences for each)

Q1671. After completing a comparison of current performance (form either Business Plan from Task 1671) against desired performance levels, identify the corrective actions required to achieve the business plan goal of improving productivity by 10%. What type of corrective actions do you recommend for each performance improvement (e.g. interim, adaptive, corrective, preventative or contingency)?
Area Required corrective action
Average order processing time Improve the efficiency of workers
Average cost to process an order Packing material recycle
Improve the efficiency of workers
Reduce the cost of labours
Error rate Build a risk assessment, minimize risk
Build an accurate system, administrator will monitor the each step that staff doing
Average number of orders processed per day Improve worker efficiency, increase the system efficiency by cut off redundant step

Q1672.1 Critically analyse the performance against planned objectives.

  • Identify areas of non-performance
    To this point, we have considered monitoring and evaluation in connection with the traditional concerns of businesses, namely, performance with respect to some of the following areas:
    • Expenses,
    • Productivity,
    • Quality,
    • Sales,
    • Employee engagement.

Q1672. 2 Report on systems failures which contributed to these results.

  • Consider failures in communication, planning, reporting and training.

_Obviously, for the old system, there is no appropriate way for communication between head office staff and labours. Meetings and reporting should be held on regular days. HR manager need to detail the rules to record the absenteeism.
Also, the manager should arrange certain person to response the warehouse layout, which could save time to access and find stock. And in order to reach goals, it requires staff to have time away from packing floor to attend training.
In terms of training, it would be associated with the employee system. Now the warehouse supervisors are all junior and new to management roles, they require intensive coaching and support form warehouse manager. In sight of drivers, which the core roles in the chain, company should train the drivers to get licences and drive safety, familiar and fast
Q1672.3 Review performance indicators and refine if necessary.

  • Comment on the suitability of performance indicators and what changes might be required to achieve organisational goals.
    Distributing the scorecards to the employers to ensure that all warehouse employees understood the performance measures for their role. Additionally, majority of KPI’s are not written using SMART format – they are not providing employees with clear expectations on what needs to be achieved and by when. 

    Performance ratings indicate that 50% of employees exceeded performance expectations for the last performance year, which is inconsistent with warehouse end-of-year results (the warehouse did not achieve its operational plan goals last performance year).

Q1673.1 Recommend performance improvement strategies.
• Change the plan
• Implement contingency plans
• Increase or decrease the resource levels
• Bring in resources with different skills
• Change timelines
• Increase budget

Q1673. 2 Identify and redefine performance measures, if necessary
When monitor performance we are comparing the organization’s actual results against planned performance. For the toy warehouse, the performance measures should be:
• Time
• Cost
• Quality
• Production
• Sales
Each of these measure monitors and evaluates different components of this company’s performance. They can be used to monitor and compare actual performance against planned performance to determine how this organization is tracking and where improvements need to be made to bring performance back on track.

Q1673.3 Document training, coaching and development strategies to address the performance of underperforming individuals or teams.

  • Identify development needs of individuals and groups
  • Identify training/coaching needs
  • Present in a development plan
    • Each position of the staff should be familiar with their job responsibilities, so that to distribute the goods quickly and accurately. This, for company, could contribute to increase the effectiveness and save costs.
    • In one group, members of the groups need to understand the duties of others, and can be support a good job with the next link. If so, this can reduce the gaps in the various aspects of the error exits.
    • Company’s culture
    • Company’s regulation and rules
    • Technique’s skills of staff

Q1674.1 Develop and supply a strategy for reviewing systems processes and work methods at your chosen business from Task 1671

As Tony found, 20% workers do not know the goals, while, understanding the objective of the initiative is essential to defining why you need to do an evaluation, how it will be used and by whom. Monitoring reports should include substantive content with robust data to measure outcomes.
As part of the planning process, clearly define the objectives and outcomes of the policy that is being implemented. It is essential to determine what successful outcomes will look like and what evidence will be needed to demonstrate success. As this has planning implications, thinking needs to occur from the outset and ensure activities are fit-for-purpose. Other important elements include:
Involve stakeholders: All relevant stakeholders need to be engaged for monitoring, review and evaluation activities to be successful. Clearly communicating the benefits of activities and providing the necessary support creates opportunity for willing participation and ownership. An open process that allows stakeholders access to information increases credibility.
Review regularly: Factor in reviews as part of your planning process to assess progress of implementation at critical milestones or in response to specific issues. Reviews are a ‘snapshot’ in the life of an initiative and tend to focus on operational issues, effectiveness of governance and project management structures, and may also include policy outcomes. Findings and recommendations from reviews should be used to improve implementation.
Evaluate the outcomes: The success of an initiative is determined by the extent to which intended and unintended policy outcomes are achieved and how they have affected stakeholders. Planning for evaluation should identify and map baseline information as well as ensure that ongoing access to consistent data sources will be available through monitoring over the life of the initiative. Data can be quantitative (hard or numerical data) or qualitative (soft or categorical). Those managing an evaluation need to focus on asking good questions to assess the data collected. Credibility of an evaluation is enhanced through sound evidence, professional and ethical standards, and the degree of independence of the evaluator. Effective evaluation is the result of a planning process over the life of the initiative.

Q1674.2 Describe how the implementation of your strategy would lead to continuous improvement
As with all performance monitoring, we need to ensure that the objectives and targets are specific and measureable, so that we can effectively track the progress toward our target over time. The targets also need to be achievable, so that we can recognise milestones and celebrate them. Then, we need to create a strategy that outlines performance indicators and targets, we intended monitoring activities, the opportunity and benefit for the organization and relationship other organizational strategic goals, policies and so on. In other words, we should make the key performance indicators and performance targets are covered in more detail in documents.

*Assessment Requirements

Complete ALL assessment tasks, projects and questions to a Satisfactory standard, ensuring that you provide enough evidence for your Assessor to prove that you are competent in the unit.
Complete this Assessment which involves research and other activities that will make sure you have the skills and knowledge required to demonstrate that you are competent in this unit.
Each assessment task is designed to assess your understanding of the unit, the skills required to apply the unit to a workplace as well as the stipulated requirements of the unit.
The activities will help you understand the ‘whys’ and the ‘how’s’- the theories and techniques- and to enrich your skills so that they are transferable to other situations.
If you do NOT complete some sections of a task, provide enough details etc, your evidence will be deemed Not Satisfactory – More Evidence Required
Your Assessor will then ask you to provide ‘More Evidence’, so that you can resubmit your assessment or ask you some further questions. You are allowed to resubmit your assessment evidence up to 3 times before you are deemed Not Yet Competent for the unit – Please refer to Global Training Institute Handbook, found on your Online Student Area, for more details.

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