Reference no: EM132923639 , Length: word count:2300

BSBMGT617 Develop and implement a business plan

Task 1: Knowledge Questions

Question 1 Outline the processes that you will use to develop the business plan for Bounce Fitness in Task 2
Question 2 Describe performance objectives and measures that you have identified for the business plan for Bounce Fitness in Task 2
Question 3 Identify the key stakeholders that you have identified for the business plan for Bounce Fitness in Task 2

Task 2 - Performance and Skills Assessment
Task summary
This assessment is to be completed using the Bounce Fitness simulated work environment. This assessment requires you to analyse and research Bounce Fitness' vision, mission, values, objectives, goals, competitors, financial targets, management arrangements, marketing approaches and strategic, business and operational plans to produce a targeted business plan designed to raise funding and support for the project.

Case Study

Although Bounce Fitness is known in the local community, it is seeking an extended presence and identity to promote the organisation's unique approach and lifestyle vision to an older audience. This will include being called Bounce Fitness: Fitness in Maturity and focus on specifics such as weight, health and flexibility. You have three months to plan and advertise this new initiative.

Target Audience:

Bounce Fitness's target audience is over 50 years of age and considered ‘old school'. Starting from the initial contact and assessment, these individuals are looking for innovative, effective and convenient solutions for their needs. They may have already heard of Bounce Fitness, but are looking for additional information. He / she may have weight or health issues or concerns (diabetes, restricted mobility) and have an interest in improving their fitness but have not addressed these needs until advised by their health provider of the necessity. Experience, connections, and quality are important factors in the decision-making process.

The group has limited understanding of computers and does not tend to pursue difficult processes for gaining information online. They have a comfortable disposable income but spend carefully and must-see real value. They tend to read extensively and are large subscribers to newspapers and magazines.

Communication Strategy:
Print advertising will provide information and should emphasise the ‘user-friendly' and health-knowledge side of the business for the older, less experienced and self-conscious individual. The health assessment and support must be clear as this will provide security and comfort. (have a look at the Fitness in maturity advertising brief document)
The online information will provide profiles, special offers, featured health articles, and company information. It will be mostly a brochure-type site with database origination.

Task 2 requires you to analyse and research business vision, mission, values, objectives, goals, competitors, financial targets, management arrangements, marketing approaches and strategic, business and operational plans to produce a targeted business plan designed to raise funding and support for the project.

To achieve this, you must complete the following Tasks using the Case Study and the additional information from Bounce Fitness

You will also be required to conduct independent research.
 
Part A - Develop business plan

1. Using the Vision, Mission, Values, Business Strategy, Objectives and Key Performance Indicators analyse and interpret each in relation to the project. How do they meet the requirements of the organisation in each area?

2. Referring to the Organisational Hierarchical Structure, discuss who would be appropriate to consult, how you would consult (include timelines) and your reasoning for consulting with your chosen individuals. These individuals will be your key stakeholders.

3. Conduct your own research and report on the market requirements for the Case Study in terms of customer need and pricing options.

4. Develop performance objectives and measures and discuss how you would gain input from key stakeholders.

5. Outline how you would consult with key stakeholders to discuss your performance objectives and measures, as discussed in Q4, above.
- If you would consult via email, write an email to consult with the key stakeholders to discuss performance objectives and measures. Assume that they reply to your email, and include recommendations from the key stakeholders below.
- If you would have a meeting, hold a meeting with the key stakeholders to discuss performance measures and objectives. (This could be your classmates, housemates, friends. The meeting does not have to be recorded). Include recommendations from the key stakeholders below.

6. What financial, human and physical resources will be required to implement your chosen option? (add more rows if necessary)

7. Are there any licenses or permits that will be required to implement your chosen option? If so, describe what these are and how you will obtain them?

8. Bounce Fitness already has a business plan (see additional information), However, you are to produce a new business plan appropriate to Bounce Fitness for:

Fitness in Maturity with a focus on specifics such as weight, health and flexibility

Your business plan must include at a minimum (use the headings below for your business plan):
• Description of the business
• Community awareness or branding
• Environmental impact
• Governance
• Products and services
• Quality
• Financial, physical and human resource requirements
• The workforce
• Permit and license requirements
• Marketing activity
• Sales
• Financial indicators:
• Profit and loss
• Triple bottom line (abbreviated as TBL or 3BL) is an accounting framework with three parts: social, environmental (or ecological) and financial. These three divisions are also called the three Ps: people, planet and profit, or the ‘three pillars of sustainability').
• Productivity and performance targets for key result areas.
• Communication plan

Part B - Monitoring the plan

You must complete the following Tasks using the business plan you have designed in Part A.

9. How will you communicate the business plan to all relevant parties and ensure understanding of performance requirements and timeframes?

10. How will you ensure skilled labour is available to implement the plan and how will you manage training if required?

11. How will you test and evaluate the performance measurement systems and refine, if necessary?

12. How will you ensure timely reports on all key aspects of the business are available, user-friendly and balanced in terms of financial and non- financial performance?

13. How will you report system failures, product failures and variances to the business plan as they occur?

Part C - Respond to performance data

Respond to the performance data of a business plan. To enable you to achieve this, discuss each of the following points for the business plan that you created and use the ‘Fitness in maturity advertising brief review' document from Bounce Fitness

14. Analyse the performance reports against planned objectives.

15. Review the performance indicators and refine if necessary.

16. Are any groups or individuals under-performing? If so, how will you ensure groups and individuals who are under performing are coached, and necessary training is provided.

17. How and with what frequency will you review system processes and work methods as part of continuous improvement?

18. Review and analyse the strengths and weaknesses of your business plan and what would you change if anything.

Attachment:- Develop and implement a business plan.rar