BSBMGT617/BSBRSK501: Manage Business Risk - Business Planning - Management Assignment Help

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Task: 1 You are to be the new Branch manager hired by the Business Owners, Rufus Supreme and Emma Clarendon at ACA Travel Agency. ACA Travel Agency has been running since 2009 and the current CBD ACA Travel Agency Business Plan is attached in elearning for your reference. Sections of the ACA Travel Agency Business Plan are used throughout this assessment and you may refer to other details in it for your task completion. A detailed review of the ACA Travel Agency Business Plan prior to commencement is required. The owners have asked for you to complete the following tasks, using the background knowledge of the ACA Travel Agency Business Plan and new information you will research and apply. Task: 1 Business Description, Target Markets and Legal Requirements A business plan can be described as the picture of your business, which reflects present and future ventures. It is presented in a well-researched and concise form of document in front of the business’s stake holders, investors and financial investors, which lets them understand how and what is your business doing or planning to do. A business plan helps entrepreneurs in many ways:

• It makes the job easy for owners to attract new investors in order to raise capital
• It helps in hiring services of key professionals or consultants
• It increases chances for success of new business or expansion in current operations of limited use if you cannot show how it affected sales or met the used

A business plan should include information on:

• Executive Summary
• Mission Statement
• The Business Description
• The Market
• Target Segments
• The Product Offerings
• Competitive Analysis and a SWOT Analysis
• Operations / Production Layout
• Resource Requirements
• Legal Considerations/Requirements
• Key Personnel and an HR Outline
• Cost and Financial Analysis
• Marketing Strategy
• Key Issues

Requirements: This report assessment covers 5 topics. Each topic should be covered separately and completely. The report should be based on your individual branch and be specific to that branch location. The report should be a minimum of 6 pages of font 10 single spaced. Students need to determine the requirements of reports and determine categories and logical sequences of data, information and knowledge to achieve document objectives. (BSBWRT401 1.4, 1.5) The student should use relevant material from the weekly topics as well as other resources such as E-learning articles, ACA Travel Agency Business Plan and internet searches to support your ideas. Students will need to ensure that the following information is detailed and all criteria are covered in their report: 1.1.  A General Business Description

• Analyse and interpret business vision, mission, values and objectives, found in ACA Travel Agency Business Plan (BSBMGT617 1.1)
• Develop performance objectives and measures through consultation with key stakeholders – List these and describe the relationship requirements (BSBMGT617 1.5)
• Supply a listing of Company Goals (a minimum of 3 short term and 3 long term goals)
• Identify internal and external stakeholders and their issues (BSBRSK401 1.3)
• Explain how key stakeholders will be involved in these processes (BSBMGT617 1.3, 1.5)

1.2 Location Choice for the Business with All Reasoning’s and Considerations including:

• Description of Location selected (General demographics of the area)
• Goggle map or other map showing location in relation to known landmarks
• Reasoning for location selection
• Advantages and disadvantages of the location

1.3 A SWOT report

• Review political, economic, social, legal, technological and policy context and provide: (BSBRSK 1.4)
• Review strengths and weaknesses of existing arrangements (BSBRSK 1.5)
• Use tools and techniques to generate a list of risks that apply to the scope, in consultation with relevant parties (BSBRSK 2.3)
• A listing of Strengths and Weaknesses (minimum of 6 each)
• A listing of Opportunities and Threats (minimum of 6 each)
• A listing of direct competitors
• A listing of indirect competitors
• A discussion on likeliness of new entrants into the market (expansion of competition environment)

1.4 Target Market Selection

• Review market requirements for the product or service, profile customer needs and research market segments (BSBMGT 1.4)
• Describe which target market segments have been chosen to attract to your location
• Description of the segments, demographics, and new grouping segmentation, potential size (how many people)
• Why those segments were chosen

1.5. Legal Requirements

• Consider any permits or licences that may be required for new activity (BSBMGT617 1.7)
• Describe the legal obligations the new branch will be under
• Describe the insurances the new branch will have

Task: 2 Business Plan Elements A business plan can be described as the picture of your business, which reflects present and future ventures. It is presented in a well-researched and concise form of document in front of the business’s stake holders, investors and financial investors, which lets them understand how and what is your business doing or planning to do. There are several integral parts to every business plan. In assessment 1, a description of the company its mission, vision and goals were developed. Added to this was the selection of target market segments and the comparison analysis – a SWOT analysis. But it is not enough for a company to know where it is and what it wants to achieve, it must have plans on how to get there. A good business plan will ensure that all necessities and contingencies are planned for, prepared for and executed in a timely and correct order. Requirements: This report should be based on your individual new branch and be specific to that new branch. You should use relevant material from the weekly topics as well as other resources such as E-learning articles and internet searches to support your ideas. This report, assessment 2, covers 7 topics. Each topic should be covered separately and completely. The report should be based on your individual branch and be specific to that branch location. The report should be a minimum of 10 pages of font 10 single spaced. Students need to determine the requirements of reports and determine categories and logical sequences of data, information and knowledge to achieve document objectives. (BSBWRT401 1.4, 1.5) The student should use relevant material from the weekly topics as well as other resources such as E-learning articles, ACA Travel Agency Business Plan and internet searches to support your ideas. Students will need to ensure that the following information is detailed and all criteria are covered in their report TASKS 2.1. A Outline of the proposed Production Plan Just like planning a holiday when preparing a business plan a list of what needs to be done, of list of what resources/supples are needed, a timeframe for all each task to be done and an allocation of who will plan, research and activate each task must be done. In general terms this is what when combined together is known as a production plan. Each student must:

• Develop a complete Production plan covering all 11 steps discussed in class and in the production power point (week 4) in e-learning

To ensure complete coverage is achieved students should include in the production plan:

• A review and evaluation of the pre-existing strategic, business and operational plan from ACA Travel Agency Business Plan main office to use as a guideline, 
• An analysis and interpretation of the business vision, mission, values and objectives from Assessment 1 
• Consultation with key stakeholders 
• A review of the market requirements for the product or service, profile customer needs and research pricing options 
• A developed action plan for implementing risk treatment 
• A communicate outline for risk management processes to relevant parties 
• An assurance all documentation is in order and appropriately stored 
• Action plan for implementation and monitoring all aspects of the plans 
• An analysis plan for financial needs and a plan for meeting those needs 
• The Production Plan should also outline the plans and systems developed for:
• Testing performance measurement systems and refine, if necessary 
• Ensuring timely reports on all key aspects of the business are available, user-friendly and balanced in terms of financial and non-financial performance 
• Reporting system failures, product failures and variances to the business plan as they occur 
• Analysing performance reports against planned objectives 
• A system for planned processes and work methods to be regularly reviewed as part of continuous improvement 
• Reviewing performance indicators and refine if necessary 
• Methods for ensuring timely reports on all key aspects of the business are available, user-friendly and balanced in terms of financial and non-financial performance 

B) Design either a Gantt chart or an excel sheet outlining the timetable for all elements of production 2.2 Complete A Purchasing Plan

• Compile a general purchasing list in excel spreadsheet format for necessities for opening the new branch
• Complete a listing of policies and procedures to be used in purchasing.

2.3 Develop a Human Resources Plan for the new branch based on ACA Travel Agency Business Plan format

• Identify human resource requirements for the business BSBMGT617 1.6
• Ensure skilled labour is available to implement this plan BSBMGT617 2.2
• Ensure groups and individuals contributing to under-performance are coached, and provide training where appropriate 

2.4 Outline a Marketing Plan 2.5 Develop a Distribution Plan 2.6 Set Pricing Strategies 2.7 Develop a Communications Network and Plan which includes: Communication of the business plan to all relevant parties and ensure understanding of performance requirements and timeframes Task: 3 Managing and Monitoring on Going Success This report assessment covers 4 topics. Each topic should be covered separately and completely. The report should be based on your individual branch and be specific to that branch location. Students need to determine the requirements of reports and determine categories and logical sequences of data, information and knowledge to achieve document objectives. The student should use relevant material from the weekly topics as well as other resources such as E-learning articles, ACA Travel Agency Business Plan and internet searches to support your ideas. Students will need to ensure that the following information is detailed and all criteria are covered in their report: A Business Plan must contain a section on financial needs, allocations and monitoring / assessment. The bare minimum a Financial Plan should provide information on includes:

• Financial Needs Assessment
• Funding Sources
• Financial Allocations
• Financial Projections
• Monitoring and on-going assessment

A TQM Plan should include information on:

• What standards and KPIs are to be set
• By whom
• Who is to be informed of each and by what communications methods?
• Who is to measure, how and when?
• What records are to made and kept?
• What corrective processes are to be utilised?

A Risk Management Plan should include:

• A risk Analysis
• A risk rating for identified risks
• A risk treatment plan
• A risk monitoring plan

Recordkeeping should include delegation on:

• What records are to be kept?
• When?
• By whom?
• How they are to be stored?
• What security processes should be apply?

Task 3.1 Financials For the financial section of assessment 3 each student is required to outline (font 11) approximately 5 pages long covering the processes, financial reports and monitoring which is to be utilised. This report should include:

• A description of tools and techniques to be used and generate a list of risks that apply in consultation with relevant parties
• Document critical success factors, goals or objectives for area included in scope BSBRSK 1.6
• Review and organise available data, information according to proposed structure and content BSBWRT401 2.1
• Choose basic design elements for documents appropriate to audience BSBWRT401 4.1
• Ensure data, information and knowledge is aggregated, interpreted BSBWRT401 2.2
• Include graphics as appropriate BSBWRT401 2.3
• Draft text according to document requirements and genre BSBWRT401 2.5

Task 3.2 TQM For the TQM assessment each student is required to write a report (font 10) of approximately 2-3 pages outline the TQM measures and the KPIs to be used to manage the quality in the company. The report should contain coverage of/ or inclusion of:

• The implement and monitor action plan BSBRSK5014.5
• Evaluation of the risk management process BSBRSK501 4.6
• Choice of the basic design elements for documents appropriate to audience BSBRSK501 4.1
• A review of the strengths and weaknesses of existing arrangements BSBMGT6197 1.5
• Documentation of critical success factors, goals or objectives for area included in scope BSBMGT617 1.6
• Review and organisation of available data, information and knowledge according to proposed structure and content BSBWRT401 2.1
• Insurance that data, information and knowledge is aggregated, and properly interpreted BSBWRT401 2.2
• Inclusion of graphics as appropriate BSBWRT401 2.3
• A draft text according to document requirements and genre BSBWRT401 2.5
• Choice of the basic design elements for documents appropriate to audience BSBWRT401 4.1

Task 3.3 Risk Management For the Risk Management assessment each student is required to write a report (font 10) of approximately 2-3 pages outline the processes to be used to manage the risk the company may face. The report should contain coverage of/ or inclusion of: A review of organisational processes, procedures and requirements for undertaking risk management in accordance with current risk management standards 

• Determine the scope for the risk management process
• The identification of internal and external stakeholders and their issues
• A review of political, economic, social, legal, technological and policy context
• A review of strengths and weaknesses of existing arrangements 
• Documentation on critical success factors, goals or objectives for area included in scope
• Discussion on how support for risk management activities will be obtained
• Discussion on the communication with relevant parties about the risk management process and invite participation
• Generation of  a list of risks that apply to the scope, in consultation with relevant parties
• An analysis of the likelihood of risks occurring
• An analysis of the impact or consequence if risks occur
• Evaluation and prioritising of risks for treatment
• Selection of the most appropriate options for treating risks
• Development of an action plan for implementing risk treatment
• Description of how risk management processes will be communicated to relevant parties 

Task 3.4 Record keeping

• The report on recordkeeping must be laid out according to the sample template in the appendix found at the end of the ACA Travel Case Study.
• Review and organise available data, information and knowledge according to proposed structure and content 
• The report should also contain a written dialogue covering:
• How the company will ensure data, information and knowledge is aggregated, interpreted and summarised to prepare text that satisfies document purposes and objectives 
• Choose basic design elements for documents appropriate to audience 
• Draft text according to document requirements and genre 
• Include graphics as appropriate 

Task: 4 Summary of Plan and Outcome A business plan can be described as the picture of the business, but if it is poorly written it can present a negative or harmful picture of the Business and even turn investors away. If the report shows a lack of precision, holes in information, is ill organised and/or demonstrates a lack of concern for attention to detail the reader may attributes those same characteristics to how the business is run. The assumption could be made that if the report is sloppy and missing details so will be the business plan and running of the business. A good business plan will ensure that all necessities and contingencies are planned for, prepared for and executed in a timely and correct order. Requirements: This report should be based on your individual new branch and be specific to that new branch. You should use relevant material from the weekly topics as well as other resources such as E-learning articles and internet searches to support your ideas. This report, assessment IV, covers 2 topics. Each topic should be covered separately and completely. The report should be based on your individual branch and be specific to that branch location. The report should be a minimum of 20 to 30 pages of font 10 single spaced. Students need to determine the requirements of reports and determine categories and logical sequences of data, information and knowledge to achieve document objectives. The student should use relevant material from the weekly topics as well as other resources such as E-learning articles, ACA Travel Agency Business Plan and internet searches to support their ideas. Students will need to ensure that the following information is detailed and all criteria are covered in their report:

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