Bsbmgt617 develop and implement a business plan answer

BSBMGT617 Develop and Implement a Business Plan

Assessment Task 1

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Assessment Task 1-Analyse a business plan

(Written Report)

Submission details

The Assessment Task is due on the date specified by your trainer. Any variations to this

arrangement must be approved in writing by your trainer.

Submit this document with any required evidence attached. See specifications below

for details.

You must submit both soft copies and printed copies of your answers.

Soft copies-

Upload on the eLearning to the specific submission folder with a cover page clearly indicating

your name, student id, assessment no and the unit name or put those information in the header

and footer of your documents.

Printed copies-

Submit to your Trainer with the "Assessment Cover Sheet" (Filled out and signed appropriately)

attached on top of your documents.

Assessment description

Review two completed business plans. Analyse the strengths and weaknesses of each business

plan, and prepare two written reports of your findings.

Procedure

Business Plan 1:

1. Read the business plan ‘Quality Training’ (see Appendix 1).

2. Compare and contrast the business plan against the criteria for effective business plans, as

described in your workbook or other reference materials.

3. Compare the strengths and weaknesses of the business plan.

4. Complete a written report, detailing a critical analysis of the strengths and weaknesses of

the business plan.

BSBMGT617 Develop and Implement a Business Plan

Assessment Task 1

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Business Plan 2:

1. Choose a business plan from the following website:

a. Bplans.com, 2010, ‘Free sample business plans’, viewed October 2010,

.

2. Compare and contrast the business plan against the criteria for effective business plans, as

described in your workbook or other reference materials.

3. Compare the strengths and weaknesses of the business plan.

4. Complete a written report, detailing a critical analysis of the strengths and weaknesses of

the business plan.

Task Specifications

Deliverable specifications

● Submit two completed reports (500 words each), analysing the strengths and weaknesses

of two separate business plans.

Quality specifications

● Each report should be properly formatted and logically structured.

● Identify relevant strengths and weaknesses of the plan, including discussion on the

following areas:

○ Compare and contrast with text book structure and layout.

○ Comment on quality and relevance of information.

○ Comment on quality of information, i.e. did the business plan demonstrate adequate

research on competition market conditions?

○ Comment on quantity of information – was there sufficient information to determine

the likely success of the business in accordance with its performance measures?

○ Were the performance measures specific and realistic?

○ Was the document well set out, easily understood and pitched at an appropriate level

for the reader?

BSBMGT617 Develop and Implement a Business Plan

Assessment Task 1

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Business Plan

QUALITY TRAINING

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Assessment Task 1

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Table of Contents

1.0 Executive summary ...................................................................................................... 5

1.1 Objectives .............................................................................................................. 5

1.2 Mission ................................................................................................................... 6

1.3 Keys to success ..................................................................................................... 6

2.0 Company structure ...................................................................................................... 7

2.1 Company ownership .............................................................................................. 7

2.3 Company locations and facilities .......................................................................... 7

3.0 Services ........................................................................................................................ 8

3.1 National recognised qualifications ....................................................................... 8

3.2 Stand-alone (Fee for Service training) ................................................................. 8

4.0 Competitive comparison .............................................................................................. 9

4.1 Analysis of competitors ......................................................................................... 9

4.2 Risks and opportunities ........................................................................................ 9

4.3 Strategies to overcome perceived threats and weaknesses ............................ 10

5.0 Market Analysis Summary ......................................................................................... 12

5.1 Market trends ...................................................................................................... 12

5.2 Marketing strategy .............................................................................................. 13

5.3 Marketing materials ............................................................................................ 13

6.0 Pricing strategy........................................................................................................... 14

7.0 Review of business plan ............................................................................................ 15

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Assessment Task 1

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1.0 Executive summary

Quality Training has been operating as a Registered Training Organisation for 12 months.

Following is a summary of the main points of this plan.

● The objectives of Quality Training are to generate a profit, grow at a challenging and

manageable rate and to be a good corporate citizen.

● The mission of Quality Training is to exceed our customers’ expectations by providing them

with effective training and development services, relevant to their needs and in line with

national quality standards.

● The keys to success for Quality Training are marketing and networking, responsiveness and

quality, and generating repeat customers and word -of-mouth business.

● The initial primary service offered will be nationally recognised qualifications Certificate IV

in Business (Frontline Management) and Certificate IV in Workplace Assessment and

Training. We will also offer Fee for Service training, tailored to individual client needs.

● Quality Training will explore opportunities to extend its scope to maximize business

opportunities and meet customer needs.

● The local market for this business is growing and is open to new service providers who can

offer superior individualised services.

● An initial financial analysis of the viability of this venture shows that Quality Training is well

positioned to maximise on profit opportunities, has few ongoing capital expenses and has

sufficient funds to negate the need to go into debt. Operating costs are minimal due to the

owner/operator style of operation.

● During 2006–2007, the intention will be to use opportunities gained through existing client

networks and scope extension to grow the business and increase trainee numbers.

● In 2005 (for 2006), Quality Training will apply for New Employee government funding to

remain competitive with other RTO’s.

In conclusion, as shown in the highlights chart below, this plan projects rapid growth and

moderate net profits over the next three years. Implementing this plan will ensure that Quality

Training quickly becomes a profitable venture for the owners.

1.1 Objectives

The objectives of this business plan are:

● To provide a written guide for the ongoing management of this training and development

business; a strategic framework for developing a comprehensive tactical marketing plan.

● The intended audience includes the owners of this business and representatives from the

State Training Authority.