Submission Details: BSBMGT617 Develop and Implement A Business Plan

BSBMGT617 Develop and implement a business plan
Submission details
Students Name Madelyn Isales Rayses
Student ID TWIMR9339
Group
Assessor’s Name Mohammad Saif Ahmad
Assessment Date/s Jan. 23 , 2021
Compare and contrast business plans and provide comment on

following:
Do the business plans have following quality? Bu
Good text book structure and layout Th

ne
ser
ch
co
ser
co
pr
me
Quality and relevant information Th

rel
ser
cu
TAD17 Version Control

Version: 2.2
Implemented: December 2020
To be reviewed: December 2021
Responsibility: Head trainer
© The Wales Institute Pty Ltd
Page 1 of 26
pr
rea
fri
div
ev
mo
co
Good market analysis and risk analysis Th
so
for
we
tow
ex
be
Th
str
fro
Specific and realistic performance measures Th

fro
de
sh
Ne
dis
de
dif
som
Fa
as
thi

Version: 2.2
Page 2 of 26
Document well set out, easily understandable and pitched at an appropriate level Th
for the reader co
pe
1. Compare the strengths and weaknesses of the business plans with

recommendations for improvemen
2. t of each business plan.
BUSINESS PLAN 1 . – HAIR SALON BEAUTY
Strengths Weakness
 excellent service  Currently struggling to

meet deadlines - too much
 Good relationship with
work?
customers
 High rental costs
 Good internal
communications  Market research data may
be out of date
 maintain a friendly, fair, and
creative work environment.  Cash flow problems
 respects diversity, ideas, and  Holding too much stock
hard work.
 quality products
 a reasonable price/value
relationship
 offering clients a wide range
of services in one setting, and
extended business hours.
 providing an easily accessible
location for customers
 providing an environment
conducive to giving relaxing

Version: 2.2
Page 3 of 26
and professional service.
BUSINESS PLAN 2 – MAHOGANY WESTERN WEAR
Strengths Weakness
 sales keep track of our top 6  limiting the client base

most popular items that bring in to african and americans.
the most sales.
 not yet exploited or used.
 Buying inventory on credit ( untapped market )
 20 to 25 percent of our overall  monthly units break
cost of goods. even
 engage customers on Facebook  monthly revenue break
and Twitter even
 20 percent of sales rising to over
45 percent.
 Retail ICE POS software every
sales transaction.
 50% customers spotlighting
 Reward program
3. Compare and contrast with text book structure and layout.

The structure of the Business Plan was okay , but there were a few areas that
could be added. A business plan provides direction , keeping you on track
and is usually a requirement when you seek finance. Depending on your
business type , your plan could include the following section :
 Title page – this describes what the plan is for and includes general
information on your business
 Business summary – A one page overview written after your business
plan is finalized.

Version: 2.2
Page 4 of 26
 About your business – this is typically called the management plan or

operations plan. It covers details about your business including structure ,
registrations , location and premises , staff and product/services.
 About your market – this is the marketing plan , It should outline your
marketing analysis of the industry you are entering , your customers and
your competitors . This section should also cover your key marketing
targets and your strategies for delivering on these targets
 About your future – This section covers your plans for the future and can
include a vision statement , business goals and key business milestones.
 Overall the structure and layout was suitable and Good
 acceptable layout
Comment on quality and relevance of information
 There needs to be more detail in the business plan. The business
description usually begins with a short description of the industry. When
describing the industry , discuss the present outlook as well as future
possibilities , you should also provide information on all the various
markets within the industry , including any new products or development
that will benefit or adversely affect your business .
 Services section needs improvement
 A lot of the information in this business plan was too short and not
detailed enough
 Overall the information was okay , but there needs to be a lot of
information and detail about the important sections such as the business
details
 background information good
 market analysis good
 risk analysis good
 all sections covered
 some performance measures not clearly defined
Comment on quality of information, e.g. did the business plan

demonstrate adequate research on competition market conditions, etc.
 research seems to be done poorly

Version: 2.2
Page 5 of 26
 needs to take the time to do through research

 must be target demographics , how well the competitors have performed
and projected
 growth rates in the industry and similar statistic
 general information provided
 financial data was lacking
Comment on quantity of information; was there sufficient information

to determine the likely success of the business in accordance with its
performance measures.
 Needed to be a lot information and quality was very vague
 Business plan started to come in fuzzy terms
 Make a good impression and solidify the business plan
 more financial data required
 information was sufficient for the purpose of the document
Were the performance measures specific and realistic.

 The performance measures were vague and didn’t really help with the
specific quality training business.
 Not very specific and did not provide a realistic goals or objectives
 No forecast or budgeting plan to review the performance measures
 not clearly defined; could have been more specific and measurable
Was the document well set-out, easily understood and pitched at an

appropriate level for the reader
The document that have been provided in the above business plan helps in
understanding the different procedures that help in evolving the
performances of the company is an efficient manner.
The company effectively deals with its performances and performs a
budgetary evaluation of the future profits .

Version: 2.2
Page 6 of 26
Learner Instructions 2
(Develop a business plan)
Submission details
Group
Assessment Date/s January 23 , 2021
Introduction
A business plan is a written document that helps in describing how a business is
going to achieve its goals. Its is a written plan under marketing , financing , and
operational working procedures , in this context an efficient illustration of the
business products that Fast Track Couriers produce and have a good reputation
in regarding the packages across the city. The company had been using operating
in New south Wales for the last 15 years and their primary function is to deliver
medium and large – outs size packages around the country . The company had
marketed trough direct-sales , telephones , internet listings and mail-outs .
Description of the business

Fast track is a courier is a courier company, which operates from New South
Wales for 15 years. The primary work of the company is to perform delivering
packages across the state. The business has good reputation in the market place
and performs reliability with the performance that it provides. The company
currently plans on mainly targets small and medium-sized business and this
makes 80 % for the existing customer. The company markets through direct sales
Version: 2.2
Page 7 of 26
, internet listing , and telephone services. The future plans of the company retain
the customer base through the use of new courier patterns that may be helpful
and in providing new and digital use of courier performances.
Business products and services

The company provides delivery products to its customer , has built a good
reputation for the past 12 years. The company grows effectively with annual
sales of $17million for the year. The company’s main services is to market sales
,telephone and interest listing into the market. The company has been reflecting
their growth and profit margins and primarily targets small and medium sized
busines which will help the company to grow their customer base to 80 % . The
sales of the company had also increased to 5 % and had been looking forward of
delivering to regional areas in NSW.
Marketing activity
The company mainly focuses on the small to medium sized companies and
provides couriers service to 80 % of its customer base. The geographical location
of the company is very limited and currently , the company does not deliver
outside the state. The sales and profit of the company have increased to 5 % on
an average. The company has been making 80 % of its customer base with the
use of its current plan and these needs to be analyzed and take into consideration
as per the requirement . The geographic location is considered to be the main
factor for the company as currently the company has not been delivering its
servicing outside Sydney metropolitan area.
Business Operation
The strategies that are being made in the company help developing and getting
the result through the external market research and also indicates the shortage
of delivery and providing services to the NSW towns. The company
Is also looking to grow their opportunities and sees on the ideal opportunities
that are required to get the works on time and as per the rules and regulations .
The company has been working and marketing through direct sales and internet
listing and with this program taken into consideration of telephone follow up the
customer ongoing satisfaction with the business had also increased.
Management and organizational structure

Version: 2.2
Page 8 of 26
The company is organized through three different members that act as the Board
of Management and the responsibility for approving the business decision. The
organizational structure consist of the personnel as follows :
 managing director  the person is responsible for the

operations that are happening on the
daily basis and takes the necessary
decisions as well.
 Logistic manager  The person is responsible for the

decision making and scheduling of
the trucks and deliveries that are
will be done throughout the day .
 5 office support employees  The people are responsible for the

maintenance of the account ,
administration , and sales of the
company.
 20 truck drivers
 The people are responsible for the
delivering of the goods to its
destination,

Version: 2.2
Page 9 of 26
Proposal
The company currently allocates two drivers to load and unload heavy packages
and the strategy relating to this has moved forward. It is to removed the need for
two drivers per truck through installing of the automatic lift gate on the back of
each truck . The cost of the construction will lead to $ 10, 000 per truck and this
means that one of the drivers is needed for each of the truck has no heavy lifting
will be necessary for this process . under this , it will allow the company to
purchase 10 new trucks and use the existing drivers into the regional routes,
each of the truck will cost $60 , 000 including the installation of the lifts . The
money will be borrowed from the bank and will be implemented in the business
plan.
Financial background

Version: 2.2
Page 10 of 26
The annual sales of the company have been recorded as 17 million under which
the estimated sales were recorded as 22 million. The annual profit , which
included current net profit , was resulted in $1.9 million and the estimated net
profit resulted to $ 3.2 million . The cost that the company incurred in the year
was recorded were loan repayments $ 200,000per annum , operating costs were
recorded as $2.2 million , administrative costs were recorded as $100,000 and
the labor costs were for that particular year. The salary range of the company
was paid $ 45 , 000 per annum and the age criteria were between 25-65 .
Risk analysis
Probable Probability Effect Responsible Risk

risk of staff Involved
occurrence
Uncertain High On the use of Managing The

use of the new director techniques
techniques techniques that are being
that are used may not
being sued in sometimes
the company. help the
company as
the digital
techniques
may not help
in
establishing
the
performance
effectively.
Lack of Medium On the Finance The financial

financing profile manager works that
earned for are being
the year. conducted in
the company
may
sometimes
make it hard

Version: 2.2
Page 11 of 26
for the
company to
perform
effectively.
Non – time Low

delivery Rejection by Logistic Delivering
the manager the services
customers in time may
sometimes
not help the
working
procedures of
a company as
this is hard to
maintain time
quality every
time.
Inefficient Medium
business Administration
operations The business
On the officer
employees of operation
the company that are being
performed by
the company
may be
inefficient as
the works
that are being
performed to
maintain the
performance
are not to the
point and

Version: 2.2
Page 12 of 26
effective
As per the above discussion can be made using the probable risk factors which
include the following factors like uncertain use of techniques , lack of financing ,
non-timely delivery , and Inefficient business operation. All the factors provide
different views in consideration of the performances that may lead to inefficiency
of the procedures for the customers. In this consideration , the different skills
that may be required in maintaining the risk factors are skilled labors that are
available to implement the plan recruiting and training of the employees would
need to be done as per the requirements. Secondly, Licensing will help the
performance of the company to deal with the delivery concern , which the
company to deal with the delivery concern , which the company may face at any
given time. All the skills need to be implemented in order to deal with the risks
that may arrive at any moment.
Conclusion
As per the study which provides an effective illustration of the business and
describing the different business product and services . Marketing activity will
provide the total costumer base earned during the year . A suitable
organizational structure has also been provided to show the affectability of the
delivering of the products . The products description and the services that the
company provides will also help deciding the performances of the company in
effective manner .
The business plan that has provided in the above points will effectively provide
the business plan to the stakeholders. Under this the performances that are being
done in the company will effectively help the company with the different
performance criteria as the stakeholders holds a important place in context of the
company . this will provide with the necessary requirements and take necessary
stakeholders procedures to take decisions as per the requirement.
Communication plan
Stakeholders Message Timeline Methods of Monitoring

communication
Human Its deals with Monthly Face to face

resources the hiring and
Version: 2.2
Page 13 of 26
firing of the
employees
Managers Managers 3 weeks Email , phone

need to take
care of the
performances
in company
so can be
maintain of
the
procedures
need to be
implemented
Owners Needs direct Monthly Email , phone

plan and
implement it
into the
company.
Managing Responsible
director daily
Monthly Face to face
operation
management Email
decision, Phone
Logistic Person
manager responsible
the Monthly
scheduling of Phone , face to
the trucks face
and drivers.
Truck drivers Take the

services and Monthly
deals with the Face to face
delivering of

Version: 2.2
Page 14 of 26
the products.
Submission details
Group
Key performance Objectives
A financial objectives objective is business financial needs and goals for the
future. Corporate financial planning involves identifying these financial
objectives and determining how to achieve them. Simply put the main
financial objective is to make money, but financial objectives often also
determine the amount that is needed or desired , the time frame in which it
must be made , and how the money will be spent.
Revenue Growth
Increasing revenue is the most basic and fundamental financial objective of

any business. Revenue growth comes from an emphasis on sales and
marketing activities , and is solely concerned with increasing top line
earnings – earnings before expenses. Companies often set revenue goals in
terms of percentage increases rather than aiming for specific dollar amounts.
Many business experts argue that the primary purpose of a business is to

produce financial returns for its stakeholders , but many organizations also
pursue a number of non-financial objectives. Though these items may not
appear to directly contribute to the organization’s bottom line , non financial
objectives can help improve a number of metrics critical to the company
success.
Key non-financial objectives for Fast Track Courier

Version: 2.2
Page 15 of 26
Employee engagement and satisfaction
Focusing on employee satisfaction allows you to create a workforce of

engaged, loyal employees. With increased employee morale often comes
better attendance and effort. By aiming to improve the workplace for your
employees , you show them that you care about more than simply making
money. Specific objectives related to employee satisfaction include giving
staff greater responsibility , rewarding exceptional work , creating a positive
work environment , promoting teamwork and communicating openly with
your employees
Financial objective – Revenue Growth

 Performance measurement
Suitable performance measurement will be return on investment . Return on

investment (ROI) measures the gain or loss generated on an investment
relative to the amount of money invested . ROI is usually expressed as a
percentage and is typically used for personal financial decisions , to compare
a company’s profitability or to compare the efficiency of different investment.
Roi is one of the most used profitability ratios because of its flexibility . That
being sad , one of downsides of the ROI calculation is that it can be
manipulated , so result may vary between users. When using ROI to compare
investments , its important to use the same inputs to get an accurate
comparison.
 Time frame
The time frame that most suitable for this will be to measure all performance
on
every end of the month. This will provide a detail on the return revenue of
each month and it can be use as a guide to compare each month.
 Relevant Stake holders
There are many stakeholders that need to be taken into account for this
objective . The main stakeholders are :
 Managing director – responsible for daily operational management

decisions
 Logistic Manager – responsible for the scheduling of the trucks and

drivers

Version: 2.2
Page 16 of 26
 20 trucks drivers
 5 office support employees – responsible for administration , accounts ,

human resources and sales
Benchmarking
By monitoring your business’s performance over an extended period of time ,

you can establish useful information on trends. You can then use this data to
refine your business decisions and strategies. Benchmarking is a way of
measuring your performance against similar size businesses in your industry.
You can benchmark almost all the areas of your business that are important
to your success. Benchmarking using trend analysis , involves the collection of
information from multiple time periods and plotting the information on a
horizontal line for further review. The intent of this analysis is to spot
actionable patterns in the presented information.
Non- financial objective : employee engagement and satisfaction
Performance measure
KPI’s are performance measures that indicate progress toward a desirable

outcome.
Strategic KPL’S monitor the implementation and effectiveness of an

organization’s strategies , determine the gap between actual and targeted
performance and determine organization effectiveness and operational
efficiency.
KPLS :
 Costumer satisfaction ratio
 Employee retention ratio
 Number of new customer
Time frame monitor performance
The timeframe to best monitor the performance of employee will be a

quarterly basis . with a quarterly basis timeframe to monitor the result will
not be biased.

Version: 2.2
Page 17 of 26
Relevant stakeholders
There are many stakeholders that need to be taken into account for this
objective . The main stakeholders are :
 Managing director – responsible for daily operational management
decisions
 Logistic Manager – responsible for the scheduling of the trucks and
drivers
 20 trucks drivers
 5 office support employees – responsible for administration , accounts ,
human resources and sales
Benchmarking – companies use benchmarking as a way to compare key

metrics to other business in the industry, This allows companies to see how well
they are performing and identify ways they can become more competitive in the
industry.
Best Practices – this a benchmark report where companies choose to look at a
company or companies that they aspire to be like. By choosing companies that
are on the leading edge of the industry , they can identify best practices
that help improve their own company.
Performance measurement reporting
Key Type of reports Timeframe Bench marking

stakeholders methods
Management Revenue and Monthly basis Best practices –

team profit report this is a
benchmark
Sales report where
management companies
choose to look at
Finance
a company or
management
companies that
they aspire to be

Version: 2.2
Page 18 of 26
like
Management Sales and market Quarterly basis SWOT – This is a

team growth report type of
benchmarking
Sales report where
management companies gather
data by looking at
Finance
strengths ,
management
weaknesses ,
opportunities ,
and threats to
help understand
their climate.
Management Customer data Every 6 months Competitive

team report benchmarks
Sales Organizations can

management learn from their
competitors and
Finance can rate their
management performance in
relation to their
competitors
performance
HR manager Employee Every 6 months Internal

performance benchmarking
Logistic report
management The process if
making
Management meaningful
team comparisons
between the
performance of a
company and the
performance of
identified best
practices that
Version: 2.2
Page 19 of 26
often become the

standards for
continued
improvement
used by
employees for
more effective
ways of getting
the job done.

Version: 2.2
Page 20 of 26
Learner Instructions 4
(Respond to performance data)
Submission details
Group
Case study : B & A Toy warehouse

Evaluating performance measures
After identifying the performance measures, Tony evaluated performance by
comparing current performance against the desired level of performance. This
allowed him to determine areas for improvement to assist the warehouse in
achieving its productivity goal.
Area Current Performance target to

performance achieve 10% productivity
improvement
Time 80 minutes 72 minutes

Average order
processing time
Cost $200.00 $180.00

Average cost to
process an order
Quality 10% Less than 1%

Error rate
Production 50 55
Average number of

Version: 2.2
Page 21 of 26
orders processed per

day
Question 1 :
a. After completing a comparison of current performance against desired
performance levels , identify the corrective actions required to achieve
the business plan goal of improving warehouse productivity by 10 %.
What type corrective actions do you recommend for each performance
improvement ( e.g interim , adaptive , corrective , preventative or
contingency )
Area Required corrective action
Time Corrective quality of order processing

system to be improved , can put an
Average order processing time
extra staff to ensure faster processing
Cost
Preventive- unwanted expenses need
Average cost to process an order to be reduced .
Quality Corrective reduce error rate , give

Error rate more detailed attention to orders.
Production Interim – promote more marketing

activities among clients.
Average number of orders processed
per day
Question 2

Version: 2.2
Page 22 of 26
A .Critically analyse the performance against planned objectives. ( I.

Identify areas of non- performance )
 Tony , the warehouse management system has definitely assist in
increasing the warehouse productivity as it enables a simple process for
packing and distributing customer orders and it gives a good orientation
and induction programs to new staffs. However , the WHS also caused
absenteeism and the layout makes the stock dificults to access. Supervisor
also required intensive training support from warehouse manager which
is hassie.
B. Report on system failures which contributed to these result.
 Consider failures in communication, planning , reporting and training.
 Tony encountered failure in communicating the operational plan goals to
his staffs . He should have a clear communication level with staffs and
highlights the importance of detailing the key result areas (KRA) as well
as key performance indicators (KPI)for his management team. The
employees Failure to complete the balanced scorecards goes to show that
his employees are not at all clear of what the warehouse is trying to
achieve which is inconsistent with Tony operations aims. When setting
objectives , it is very important to convey to employees about your
financial objectives and set it clear to them that the KPI should be specific ,
measurable , achievable , realistic and time specific.
C. Review performance indicators and refine if necessary ( Comment on the
suitability of performance indicators and what changes
might be required to achieve organisational goals )
 Based on targeted and actual KRA , result are basically unfavourable
which is a treat to the company. Tony’s goal is to achieve 10 % increase in
productivity when actual absenteeism exceeds the targeted percentage of
3 % turnover rate result are unfavourable as well as it exceeds the
targeted percentage. Tony should develop a corrective action plan
whereby communication with employees should be significantly
improved and personal. By doing so , employees will be able to enjoy
working In a close and motivated team, which in turn , can increase
productivity and reduce absenteeism and the staff turnover rates. It is
important to emphasize on treating employees right and improve the
workplace environment as the employees are the one who helps to
operate and run the business.

Version: 2.2
Page 23 of 26
Question 3 - •Recommend performance improvement strategies

 Underperforming individuals should be trained intensely . Tony should
organize a training period with a certain timeframe as well as propose an
expected performance for employees after going through the training , so
that the employees after going through the training , so that the
employees can gauge and improve on their productivity level, instead of
taking the training for granted. Supervisors should monitor the
underperforming individuals as well and report to tony on any
absenteeism or low levels of productivity so that tony can consider on
retaining or letting go of certain employees. In order to improve the
company ‘s productivity , clear communication to employees is essential
.tony should communicate clear goals and expectation to his employees.
For targets to be meaningful and effective in motivating employees , they
must be tied to larger organisational ambitious. He should also share
numbers and information to them so that they would know what is going
on within the company as well as how their jobs contribute to the
productivity and profit of the company . When they are informed with
transparent information , employees will feel a greater sense of worth and
an increased sense of ownership , which will improve their performance.
Question 4
a. Develop a strategy for reviewing systems processes and work methods at
B&A Toy Warehouse
 Proactive management : The strategic plans proposed should be
implemented in a proactive manner with focus on do it now attitude. All
the tasks simplified to minor actions have to be completed at the best
possible time frame with no excuse to delay.
 Quality production : the future of a business depends on the quality of its
products so is the case of Toy warehouse here. If any of the low quality
products go out to market it definitely makes a negative impression on the
customer.
b. Describe how the implementation of your strategy would lead to
continuous improvement.
 This mention strategies play a great role in the companies ‘improvement
goals . The change is management attitude would affect each and every
department of the company with focus on organization growth. The
quality improvement of the products makes take an extra money out of
the budget, but it has a great potential in contributing towards the overall

Version: 2.2
Page 24 of 26
sales of the business in near future.

Version: 2.2
Page 25 of 26

Version: 2.2
Page 26 of 26

Submission Details: BSBMGT617 Develop and Implement A Business Plan

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Submission Details: BSBMGT617 Develop and Implement A Business Plan

Uploaded by

Copyright:

Available Formats

BSBMGT617 Develop and implement a business plan

Students Name Madelyn Isales Rayses

Assessor’s Name Mohammad Saif Ahmad

Assessment Date/s Jan. 23 , 2021

Compare and contrast business plans and provide comment on

Do the business plans have following quality? Bu

Good text book structure and layout Th

Quality and relevant information Th

TAD17 Version Control

Specific and realistic performance measures Th

TAD17 Version Control

1. Compare the strengths and weaknesses of the business plans with

 excellent service  Currently struggling to

TAD17 Version Control

and professional service.

BUSINESS PLAN 2 – MAHOGANY WESTERN WEAR

 sales keep track of our top 6  limiting the client base

3. Compare and contrast with text book structure and layout.

TAD17 Version Control

 About your business – this is typically called the management plan or

Comment on quality of information, e.g. did the business plan

TAD17 Version Control

 needs to take the time to do through research

Comment on quantity of information; was there sufficient information

Were the performance measures specific and realistic.

Was the document well set-out, easily understood and pitched at an

TAD17 Version Control

Students Name Madelyn Isales Rayses

Assessor’s Name Mohammad Saif Ahmad

Assessment Date/s January 23 , 2021

Description of the business

Business products and services

Management and organizational structure

 managing director  the person is responsible for the

 Logistic manager  The person is responsible for the

 5 office support employees  The people are responsible for the

TAD17 Version Control

TAD17 Version Control

Probable Probability Effect Responsible Risk

Uncertain High On the use of Managing The

Lack of Medium On the Finance The financial

TAD17 Version Control

Non – time Low

TAD17 Version Control

Stakeholders Message Timeline Methods of Monitoring

Human Its deals with Monthly Face to face

Managers Managers 3 weeks Email , phone

Owners Needs direct Monthly Email , phone

Truck drivers Take the

TAD17 Version Control

Students Name Madelyn Isales Rayses

Assessor’s Name Mohammad Saif Ahmad

Assessment Date/s January 23 , 2021

Key performance Objectives

Increasing revenue is the most basic and fundamental financial objective of

Many business experts argue that the primary purpose of a business is to

Key non-financial objectives for Fast Track Courier

Employee engagement and satisfaction

Focusing on employee satisfaction allows you to create a workforce of

Financial objective – Revenue Growth

Suitable performance measurement will be return on investment . Return on

 Managing director – responsible for daily operational management

 Logistic Manager – responsible for the scheduling of the trucks and