BSBSMB404: UNDERTAKE SMALL BUSINESS PLANNING - Management Assignment Help

Business: Ayurvedic Clinic that gives lifestyle/diet consultations as well as Ayurvedic massage treatments

Your plan should be developed to the point where an accountant need only check the figures with you, add a little more analysis (for example projected ratios) then have it prepared for presentation to third parties.

The business plan can take any form you wish and can relate to an intended or imaginary business, but must include:

• an executive summary
• a situation analysis
• customer needs analysis—market research results and analysis
• the vision and mission statement for the business (the driving force which makes the plan a living document)
• your aims and objectives, both business and personal
• marketing, operational and financial plans and strategies
•  indications of financial support or intended sources of finance
• staffing requirements
• details about how you will meet legislative requirements
• sales and growth forecasts
• specialist services that are likely to be required
• stakeholder identification and engagement strategies
• risk matrixes and risk management strategies
• how you plan to measure success—the performance criteria that will be used for measurement
• possible contingencies that will be addressed

Provide data/ tables, graphs and statistical analyses that show that the business will be viable and successful.

Part 1

Develop an action plan for your business that clearly documents how operational strategies will be developed, implemented, reviewed and updated as required.

Detail your operational targets and the criteria against which business success will be measured. How will you conduct the relevant assessments?

The following things should be taken into consideration when developing the action plan and describing operational targets:

• health and safety
• environmental concerns
• technology
• quality assurance
• innovation
• changing customer requirements
• stock control
• expenditure/ cost control
• wastage/ shrinkage control
• staffing
• compliance with technical, legal and ethical standards
• time, quality and cost control to meet customer expectations
• design, development and implementation of KRAs and KPIs
• use of innovative ideas
• continuing market research activities
• adjustments and improvements to plans, goals and objectives, over time.

Part 2

Give answers to the following questions:

• Describe the market research—type and purpose—that you conducted, or will conduct, prior to your business start-up. Why is such research necessary and why is it necessary to continue, through the business operation, to conduct appropriate research?
• Explain how and why business plans need to be regularly reviewed. How do you, or how do you think you will, conduct reviews in your organisation? Describe the processes and steps involved.
• How can such reviews be utilised to take advantage of new business opportunities? ? Through what procedures is it possible to identify new markets?
• In what ways might plans and goals need to be adjusted as a result of market research?

Assessment Task: Observation

1. Carry out some research to identify “best practice” in the area of business planning and management, with particular focus on the complementary health industry.

2. Prepare a 100 word report, describing the results of your investigation.

3. Using this research, review the business plan prepared as part of your online assessment in BSBSMB404: Undertake small business planning, identifying areas that could be improved to ensure your business continues to be viable.

4. On the basis of this review, prepare a 100 word report, recording any proposed changes to your business plan. Explain your reasoning for making any changes.

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