MBA-602 - Small Business Administration - Jane Case Study - Management Decision Making - Strategies For Success - Report Writing Assignment Help

Assignment Task -

This Assessment Task will address the following Learning Outcomes:
LO1: Analyse small business management decision making and strategies for success.
LO2: Create a three-year financial plan given a business scenario.
LO3: Create a proposal for strategies to improve business performanceYour Task.

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Your Task -

Create a business plan using the information provided.

Assessment Description - 

You are required to read the scenario provided.  

After reading the scenario, you will be required to submit a business plan your client can  take to her board to justify the expansion including raising $350k. The plan must include  the following:  

• Identify an Australian city to expand into which will provide a profitable return-on investment. This will include conducting market research to determine which city is  suitable based on FutureProfit’s current target market. 

• Determine the best solution regarding location – e.g., leasing a commercial property,  renting a co-working space, or having employees / consultants work from home.  Discuss the advantages and disadvantages of in the proposed city including the  financial requirements. Keep in mind the change in working conditions due to COVID 19. 

• Complete a business model canvas for FutureProfit Pty Ltd. A good video to  understand and present the business model canvas, watch  

https://youtu.be/IP0cUBWTgpY (The Business Model Canvas - 9 Steps to Creating a  Successful Business Model - Startup Tips). 

• Identify the specific training staff neede have in order to be ‘future-ready’.  • Discuss two strategies / solutions you think will improve business performance and  sustainability (e.g., how and what to automate). This information will also provide the  basis for capital injection (e.g., technological requirements).  

• Simple financial projections for the next three years.

Scenario -

Jane has asked you to provide her a business / strategy plan for her FutureProfit Pty Ltd in  moving forward as the business was impacted by border closures and lockdowns in 2020.  Despite the challenges, she is still keen to expand , FutureProfit Pty Ltd,  for five years. She has done quite well for herself being in accounting for over 20 years and being  recognised in her field locally, nationally and internationally. Though she has a few clients  overseas, the majority of her client base is in Canberra, where her business is currently located  and where she has resided all her life.  

Despite her success, she is concerned about the sustainability of her practice over the next 5  years due to the changing nature of business in general from COVID-19 and the reality of  technological advances that are impacting every industry, including accounting. She has read  that artificial intelligence, cloud computing and blockchain will continue to affect the industry.  Additionally, she is concerned that her staff do not have the technical, analytical, leadership and  consulting skills needed to continue their success in the future. She currently has four full-time  employees: two accountants, one bookkeeper, and one office manager. She also has two part time bookkeepers and a marketing/social media coordinator who all work off-site.  

Her target market is SMEs who are in a growth phase and have a minimum turnover of $1 million  per annum. Though she doesn’t target a specific industry, she tends to attract those companies  that are in either health, education or the STEM (science, technology, engineering, mathematics)  fields – just due to the nature of Canberra.  

She currently promotes her business mainly via word-of-mouth and networking at local  professional associations such at the Canberra Business Chamber, the Australian Institute of  Company Directors, and the Canberra Women in Business. Her breadth of networks has  expanded due to many organisations having their functions online.  

Last year’s sales revenue was $550,000. Her key expenses are her own wage ($150k), the two  accountants ($80k each), the two part-time bookkeepers ($40k each), the office manager ($45k),  and the part-time a marketing/social media coordinator ($35k). Operationally, she budgets $50k  for marketing/advertising and $100k for general operations. She has two directors which she  pays a $25k each per year. She currently operates her business out of a detached building on  her property and allocated $24,000 towards rent. Through aggressive marketing, Jane believes  that the expansion will increase their sales revenue by 50% the first year, 60% the second year,  and 70% the third year.  

Her company currently uses XERO, a cloud-based accounting software platform for small and  medium-sized businesses. Other than that, no other automation has been implemented.

Capital Raise -

It is anticipated that the breakdown of the capital raise will be as follows: (a) One full-time  technical programmer @$100k; (b) one full-time accountant @$80k; (c) $100k towards interstate expansion (including operational and occupancy costs), and (d) $70k for marketing.

Assessment Instructions - 

A template business plan is provided on the portal to you to use if you wish. You are not required to use the template business plan. You are required to have a minimum of 10 references which can include journal articles, market research documents, government publications, industry reports, etc.

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