BSB60420 Leadership And Management
Task:
Section 1: Planning to develop a business plan
a. Provide an overview of your business What is the name of the business? What are the main products, services or programs of the business?
b. Describe the legislative and regulatory requirements relevant to developing your business plan (include at least one).
What is the legislation/regulatory requirements called?
How are the legislation/regulatory requirements relevant to your business?
How are the legislation/regulatory requirements relevant to yourself?
c. Describe the organisational requirements relevant to developing your business plan.
Are there any pre-existing strategic, business and operational plans?
What is the business’ vision?
What is the business’ mission?
What are the business’ values?
What are the objectives and goals of the business?
What are the financial targets of your business?
What are the management arrangements/organisational structure of your business? (use a diagram and/or words to answer)
What is your business’ current marketing strategies?
Attach proof of the existing plans/organisational requirements to this section of your portfolio.
d. Research the market requirements for your business’ products/services/programs (include mathematical information in your research).
What does the market want?
What is an acceptable price point?
What are the quality expectations?
Are there opportunities for different quality/price point options?
What are other market requirements?
Attach proof of your research/information sources to this section of your portfolio (e.g. websites, surveys etc.)
e. Research information relevant to the competitors of your business and business plan (include at least one competitor and include mathematical information in your research).
Who are your competitors?
What are your competitors’ business models/approaches?
What is your competitors’ market position and brand awareness?
What are the geographic locations of your competitors?
What is the pricing of your competitor?
What is your competitors’ sales channels?
Attach proof of your research/information sources to this section of your portfolio.
f. Research other industry-related information
What are industry trends?
What are marketing trends?
Attach proof of your research/information sources to this section of your portfolio (e.g. websites, surveys etc.)
g. Analyse your business (consider the research you’ve done on the vision, mission, values, objectives, goals, competitors, financial targets, management arrangements and marketing approaches).
What are the strengths of your business?
What are the weaknesses of your business?
Are there any opportunities for improvement?
What are the existing or future threats to your business?
Note: You may use any method of analysis suitable to the information you researched instead of the questions above.
Section 2: Developing a business plan
a. Plan to meet with relevant stakeholders (at least two)
Who will you meet with?
What will you discuss?
How will you demonstrate your ability to:
•lead others
•facilitate group interaction
•influence the direction of the outcomes
•present information/seek advice?
b. Develop performance objectives and measures for your business plan.
What are the key result areas (at least three)?
What are the productivity and performance targets (include at least one financial indicator such as revenue)?
How will they be measured/monitored?
c. Identify any licence or permit requirements to be included in your business plan.
d. Describe your proposed marketing strategy.
e. Identify financial, human and physical resource requirements for your business plan (at least one each).
What financial resources are required to achieve the performance objectives?
What human resources are required to ensure the success of your business?
What other physical resources are necessary for your business plan to succeed?
e. Use the work done in this section to develop a formal written business plan.
Note: Use appropriate business language and terminology. You will be assessed on this.
Make sure your business plan includes:
•a description of the business
•products/services/programs
•performance objectives and measures (including financial indicators)
•financial, physical and human resource requirements
•regulatory requirements
•marketing strategy
•productivity and performance targets for key result areas
Section 3: Implementing and monitoring a business plan
a. Communicate your business plan to all relevant stakeholders.
Note: You may communicate in any appropriate manner as long as it meets the requirements in the project portfolio and adheres to any organisational policies and procedures (e.g. internal communications policy). You may need to communicate in different ways to different stakeholders. For example, a face-to-face presentation may be required to present the business plan to the executive team, and a promotional video clip may be used to communicate the plan to other office employees.
Who will you communicate to?
How will you communicate (e.g. face-to-face at a team meeting, email summary, poster)?
If not already viewed in person by your assessor, attach proof of your communication to this section of your portfolio (e.g. video recording of team meeting or promotional video clip).
b. Confirm that skilled labour is available to implement the plan.
Note: Confirmation can take place in any appropriate format (e.g. draft email to HR or other managers confirming employee availability, or a screenshot of a project plan showing skilled labour availability) as long as it adheres to relevant organisational policies and procedures. Confirmation may take place as part of the communication in the previous step.
What skilled labour is required?
What skilled labour is already available?
What skilled labour must still be recruited?
Attach proof of your confirmation to this section of your portfolio (e.g. Email to HR or other relevant managers confirming the availability of existing employees to implement the business plan, verbal confirmation while communicating the business plan to stakeholders etc.).
Assume a period of time has passed.
c. Test the performance measurement systems associated with your business plan.
Note: you have already identified ways to monitor performance objectives in Section 2 of your project portfolio.
What systems are in place to test performance (e.g. job descriptions, performance reviews, income statements, self-evaluations, induction checklists, customer reviews etc.)?
Choose one performance measurement system and test it (e.g. conduct a survey to staff members to see whether their understanding of their job description matches the actual job description).
Attach proof of how you’ve tested the system to this section of your Project Portfolio (e.g. survey results).
d. Report failures (system, product and/or services) and variances to your business plan as they occur.
Who will you report to?
How will you report the failures?
Unless viewed in person by your assessor, attach proof of how you’ve reported the failures/variances to this section of your portfolio (e.g. email to CEO). Make sure your proof shows that you’ve responded promptly (e.g. dated email etc., updated business plan)
e. Refine performance measurement systems (if required).
If relevant, attach proof of how you’ve refined the system to this section of your portfolio (e.g. modified job description, induction checklist, feedback register, training/mentoring/coaching).
f. Evaluate the legislative compliance of your business.
Have the business activities and your own actions complied with legislative requirements?
g. Evaluate the key aspects of your business against the planned objectives.
Note: If you are using the case study, assume this evaluation takes place three months after the business plan has been communicated to the directors.
How has the performance in key aspects of the business (identified in Section 2 of your Portfolio) compared to the objectives planned in your business plan?
h. Refine performance indicators, if required.
Are the performance indicators (identified in Section 2 of your Portfolio) realistic and accurate? Refine if necessary.
i. Evaluate staff performance.
Are there any underperforming staff members (at least one)?
How they are underperforming?
j. Coach underperforming staff (at least one staff member).
Who will you coach?
Unless already viewed in person by your assessor, attach proof of a coaching session to this section of your Portfolio (e.g. video recording of coaching).
k. Establish ongoing review processes for the underperforming staff member.
Attach proof to this section of your portfolio (e.g. flowchart showing review process, review policy and procedure, performance review template etc.).
l. Report on outcomes of your business plan.
Who will you report to?
Report on key aspects and objectives of the business.
What are the strengths and weaknesses of your business plan?
Note: Use the answers from the questions already completed in this section. Match the style of your writing to the purpose and audience. You will be assessed on this.
