BSBMGT616: Strategic Plans - Cost-Benefit and Risk Analysis - Management Assignment Help

Assignment Task:

Develop and implement strategic plans

This unit describes the skills and knowledge required to establish the strategic direction of the organisation, sustain competitive advantage and enhance competitiveness. It covers analysis and interpretation of relevant markets, capability assessment of the organisation and analysis of the organisation s existing and potential competitors and allies. It also covers implementation of the strategic plan and developing specific actions and initiatives that will be undertaken by people working in various roles.

It applies to individuals working in senior roles in the organisation who have responsibility for ensuring that the organisation is positioned to ensure its long-term viability and success.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Elements

To achieve competency in this unit students must demonstrate their ability to:

1. Confirm organisational vision and mission

2. Analyse the internal and external environment

3. Write strategic plan

4. Implement strategic plan

Performance Evidence

Evidence of the ability to:

• consult and communicate effectively with relevant stakeholders to:

• confirm or revise the organisation s mission, vision and values

• validate findings of research and analysis

• get input to and endorsement of strategic plans

• brief relevant parties about the plan

• analyse organisation s internal and external environment to formulate strategic plans including:

• background and research relevant to the plan

• legislation, regulations and codes of practice, including for intellectual property

• objectives, strategies and priorities

• roles and responsibilities

• performance indicators

• timeframes

• consideration of co-operative ventures

• cost-benefit and risk analysis

• seek advice from appropriate experts wherever necessary

• monitor and evaluate the implementation of the plan and make refinements as appropriate

• review effectiveness of planning processes and identify opportunities for improvement.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

• outline the legislation, regulations and codes of practice relevant to the organisation s strategic plan.

• give examples of risks and risk management strategies relevant to strategic planning including:

• intellectual property rights and responsibilities

• other risks

• outline strategic planning methodologies including political, economic, social and technological (PEST) analysis and strengths, weaknesses, opportunities and threats analysis (SWOT)

• identify internal and external sources of information relevant to the organisation's market, competitors, customer base, vision, values and capabilities

• outline techniques for developing organisational values.

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