BSBOPS601 - Develop and Implement Business Plans

Assignment Task

Introduction

The assessment tasks for BSBOPS601 Develop and implement business plans are outlined in the assessment plan below. These tasks have been designed to help you demonstrate the skills and knowledge that you have learnt during your course.

Please ensure that you read the instructions provided with these tasks carefully. You should also follow the advice provided in the Business Works Student User Guide. The Student User Guide provides important information for you relating to completing assessment successfully.

Questions

Provide answers to all of the questions below:

1. Outline three reasons why a company may choose to develop a business plan. 

2. Identify the key steps involved in developing a business plan (at least four).

3. List five common components of a business plan. 

4. Outline three areas that the initial business planning process may address.

5. Describe the purpose of a SWOT analysis in a business planning process.

6. Explain the relationship between performance objectives and key performance indicators in a business plan.

7. Explain why it is important for a business to use a range of performance measures within its business plan.

8. If a business plan has an objective of improving customer satisfaction, identify three performance measures that could be used to measure customer satisfaction.

9. Identify key stakeholders who may be involved in business planning and explain how they are involved.

10. Explain the importance of pre-existing strategic, business, and operational plans to the development of a new business plan.

11. Explain why it is important to understand a business’ vision, mission, values and objectives when developing a business plan. Give an example to illustrate your answer.

12. Describe at least three regulations/permits requirements/licence requirements to consider when initiating a new business activity that may require a permit or licence.

Task 2: Project Portfolio

Activities

Complete the following activities:

A) Carefully read the following:

This project requires you to develop and implement a business plan. As part of the assessment you, you will:

• Analyse and research the aspects of your business relevant to the business plan

• Write a business plan

• Implement the business plan

• Monitor, evaluate and respond to performance relating to the business plan.

B) Plan to develop a business plan

Research and analyse your business in preparation for developing a business plan. To do this, you need to:

1. Describe the legislative and regulatory requirements relevant to developing your business plan and explain how they are relevant to your role

2. Describe the organisational requirements relevant to developing your business plan, including:

• pre-existing strategic, business and/or operational plans

• Existing business vision, mission, values, objectives, goals, financial targets, management arrangements, marketing strategies and pricing structures

• Other organisational requirements (such a templates etc.)

Research the market requirements for your business’ products/services/programs (include mathematical information in your research)

Research information relevant to the competitors of your business and business plan (include at least one competitor and include mathematical information in your research)

Analyse your business and its objectives (consider the research you’ve done on the vision, mission, values, objectives, goals, competitors, financial targets, management arrangements and marketing approaches).

3. Propose performance and productivity targets

4. Develop performance objectives and measures in consultation with others.

5. Develop a business plan

7. Communicate the business plan.

8.  Confirm that skilled labour is available to implement the plan.

9. Report system failures or variances promptly.

10. Update your business plan to address variances and refine performance indicators

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