BSBMGT617: Develop and Implement Business Plan - Methods of Communication with Stakeholders - Management Assignment Help

Assignment Task:

Written Assessment Task 1 (BSBMGT617)
1. List 5 characteristics that should form part of a Key Performance Indicator 
2. List 3 alternative approaches to developing', key performance indicators to meet business objectives 
3. What is the difference between a strategic KPI and an operational KPI, 
4. What should you consider when formulating your business goals, 
5. What is normally included in a typical business plan? 
6. What should be included in your financial plan? 
7. Define the mission vision values & objectives of an organisation and explain why they are important in making a business plan, 
8. Why is important for an organization to consult with the stakeholders? What are the different methods of communication with stakeholders? 
9. Develop performance objectives in consultation with key stakeholders 
10. Identify how organizations can review current market trends customer needs and pricing options 
11. Why it is important to identify training requirements for employees and list a few methods of providing training in an organization 
12. Why it is necessary to resew system processes and work methods? 
13. What are the key components of a business plan, 

TASK 2(BSBMGT617)

For this task, you am to develop a new business plan Consider areas of your expense - benefit into a business environment This requires you to 
(a) Research 
• Identify the purpose of your business P.

• Identify and review the essential components of your business plan business

• Identify and document your business goals and objectives in order to measure business performance 
(b) Develop the plan, ensuring you.

• Research resources, legal and compliance requirements. specifically in relation to occupational health and safety (WHS). in accordance with business goals and objectives

• Research market needs. market size and potential • Identify sources and costs of finance_ to provide required liquidity and profitability for the business

• Identify marketing strategies to promote the business

• Identify means of production/operation to conform with business goals and orvbiceecstives

• Identify staffing requirements to effectively produce/deliver products and services

(c) Develop strategies for minimizing risks. ensuring you

• Identify specific interests and objectives of shareholders and seek the support for the planned business direction

• Identify and develop risk management strategies according to business goals and objectives and relevant legal requirements

• Develop a contingency plan to address possible areas of non-conformance with the plan 

Project Assessment Task 3 (BSBMGT617)
Part A 
For this task, you are to analyze 3 strengths and weaknesses of your business plan You aro to document your review and submit it to your assessor for marking 
Following Assessment 2 you are to implement your business plan 

Part B
Your implementation will encompass running a meeting for your team in which you

• Explain and discuss the business plan in detail

• Allocate responsibilities for at least 2 different strategies outlined within the plan

• Instruct/mentor each person to whom you have allocated a responsibility, to ensure they understand and are empowered to perform their allocated task

• Ensure each staff member are trained in the following strategies

• as appropriate to their allocated responsibility/strategy

o recruitment

o resource allocation

o intellectual-property 
A small group of 3 - 5 will play the role of your team members for 15 minutes You will take turns in groups demonstrating your abilities Your trainer will observe your ability to conduct the meeting efficiently and execute all tasks listed on Part 
The trainer will complete an observation checklist and it will form part of the evidence gathered for this unit 
Assessment Summary You are to submit the following

• Your meeting plan 
Part C 
For this assessment, you are to review the implementation of your business plan in your organization 
In performing this task, you should

• consider your business plan developed in Assessment 2

• Identify the type of information required to determine the effectiveness of each strategy

• Assess the profitability and productivity outcomes of each strategy

• Identify areas of underperformance

• Identify improvements that are appropriate to ensure the viability of the business plan 
Once you have gathered this information you are to provide a written report that

• comments on the effectiveness of the implementation of the plan

• reviews the financial outcome (in terms of viability profitability and productivity) of each strategy

• outlines the areas of underperformance along with recommendations for improvements

• includes an amended version of your business plan, with the changes highlighted

• outlines in detail how the changes will be implemented 

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