Develop risk management strategies

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Reference no: EM133071823

BSBESB401 Research and develop business plan

You will be required to participate in a roleplay to review the business plan you developed in the previous assessment task and to-
• Identify specific interests and objectives of relevant people and seek and confirm their support of the planned business direction;
• identify, assess and prioritise internal and external risks
• Identify specialist services and sources of advice
• develop risk management strategies

Activities 1 and 2 require you to do research into common risks relevant to the Ozhouse Clean business and to identify relevant Codes of practice.

Activity 3 requires you to review the SWOT analysis in the Ozhouse Clean business plan, and then develop strategies/contingencies to mitigate the risks and potential non-conformance with the business plan you developed in the previous assessment.

Assessment Task: Case Study & Roleplay

Activity 1: research question - common business risks
Activity 2: research question - industry codes of practice
Activity 3: complete a risk assessment including strategies/contingencies to mitigate risks
Activity 4: participate in a Roleplay to review the business plan

Activity 1: Research and outline below common risks particular to small cleaning businesses or the cleaning industry

Activity 2: Research and clarify below at least two (2) industry codes of practice particularly relevant to the Ozhouse Clean business

Activity 3: Prior to meeting with the business owners and directors (Activity 4), review the SWOT Analysis in the business plan. Referring also to the business strategic direction, goals and objectives, conduct a Risk Assessment by completing the Risk Management Table following.

Your risk assessment must-

  • categorise the weaknesses and threats into internal and external factors
  • assess and prioritise the risks to the business
  • develop strategies/contingencies to mitigate those risks, with consideration to any relevant legislation
  • identify specialist services and sources of advice, if required, to assist mitigate those risks
  • research the costs of those services or advice which could be allowed for in the available resources already included in the business plan.

Activity 4:
Your Assessor will allocate a time to attend and roleplay. Your Assessor will role play as James, a Director who is one of the business owners, and will also observe you whilst participating in this role play. Your Assessor will also allocate another student to role play as Nancy, the other Director and business owner.

STUDENT ROLEPLAY INSTRUCTIONS

1. You will role play as the Operations Manager who is responsible for developing and implementing the business plan. You will chair a meeting with to discuss and confirm support for the business plan and assess and address associated risks.

2. Your Assessor will roleplay as one of the Directors and business owners. One other student will roleplay as the 2nd Director and business owner who is also asked to attend the meeting.

3. You will chair the meeting and be required to actively participate and answer questions when required.

Roleplay Cast:

The following individuals will be at the meeting;

  • Student being assessed role play as the Operations Manager
  • Assessor roleplay as one of the Directors and business owner
  • The 2nd Director and business owner role play by one other student

General instructions for all role players include:

  • participate in discussions about the business plan and associated risks
  • respond to open questions, by elaborating and providing additional information.
  • respond to closed questions, with a single word reply.

During the meeting, you must:

  • Identify specific interests and objectives of each participant and confirm their support of the planned business direction;
  • identify, assess and prioritise internal and external risks
  • Identify specialist services and sources of advice required, if any, and their costs
  • develop risk management strategies
  • Use language and features appropriate to audience
  • Participate in discussions using listening and questioning to elicit the views of others and to clarify or confirm understanding

Attachment:- Research and develop business plan.rar

Reference no: EM133071823

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