Reference no: EM133590597

Knowledge Assessment

Question 1. What is meant by 'strategic planning' and what is a strategic plan used for?

Question 2. Explain the difference between a strategic and operational plan.

Question 3. Explain the importance of contingency planning.

Question 4. What type of plan can be used to predict the current and future cash flow of a business?

Question 5. Provide three (3) benefits of having a marketing plan.

Question 6. Describe three effective marketing strategies for Business to Customer (B2C).

Question 7. Describe the difference between an asset and a liability.

Question 8. Provide three examples of additional supporting information or documentation that could be attached to your business plan.

Question 9. How would you calculate the 'working capital' of a business?

Question 10. What is the difference between liquidity and profitability?

Question 11. Explain what a 'cash flow statement' is.

Question 12. Explain the similarity between a SWOT analysis and feasibility studies.

Question 13. In the table below explain the legal and compliance requirements relating to business operation against each of the headings.
Business registrations
Fair trading
Privacy laws
Employment laws and Industrial relations
Equal opportunity and Diversity
Work health and safety (WI-IS)
Environmental protection
Marketing compliance

Question 14. a) List the four (4) strategies for risk management.
b) List and give an example of the four (4) main types of risk.

Assessment Task 2: New Business Client

The following assessment tasks use a simulated business called Complete Business Solutions Australia (CBSA). To complete the assessment tasks, students will need to access information, templates, policies and procedures associated with CBSA. These documents can be accessed on CBSA's intranet accessible via the website. To access; head navigate to the staff intranet and enter your RTO's username and password prior to completing your assessment tasks.

For this assessment you will play the role of Jay Gartner Business Compliance Specialist for CBSA. CBSA is a consultancy service providing assistance with compliance, finances, human resources, information technology and other business needs to ensure that businesses have the expertise and support they need to survive and prosper. You should familiarise yourself with what CBSA does, its services and history, the organisational structure of the business, its employees, and its mission, vision and business objectives.

This task has two parts:
In Part A, you must prepare to develop a business plan.
In Part B, you must develop a draft business plan.

PART A: PREPARE TO DEVELOP BUSINESS PLAN

TASK INSTRUCTIONS
Based on the email, you need to read the business information and research suitable websites such as
• Business Victoria
• Business Australia
• Licensing and Registration

STEP '1
Answer the questions in the email attachment, based on the business information you have been given and your completed research.
STEP 2
Send the email to Gavin Stead attaching the completed questions.

1. Why is having a business plan important? Provide at least five reasons.
2. What external specialist services or providers would you need to operate the business? Provide at least four (4) providers and their purpose.
3. Provide three ways you could measure and evaluate business performance.
4. Why is it important to seek the objectives of all the business partners?
5. Why is it important to develop business goals and outcomes?
6. Why would undertaking market research be important for the business?
7. How would you communicate your ideas to your client, potential investors and potential market?
8. Provide at least five main components required in a business plan.
9. What components need to be included when calculating a dog grooming service's break-even cost to ensure you cover all your costs and not run at a loss?
10. What is an average mark-up rate on a product or service in the dog grooming industry?

PART B: DEVELOP DRAFT BUSINESS PLAN

BUSINESS SUMMARY
Include a 200 word summary of the business (include information on who, what, how and why of the business).

What is the business vision statement? (What is the future plan of the business?)

What is the business mission statement? (How will you achieve your vision?)

Provide five short term goals and how you will achieve this:

Provide five long term goals and how you will achieve this:

PRODUCTS AND SERVICES

Individual session prices range from $30-$100 depending on the length and type of treatment required. The average price is $60.
During initial launch, promotional offers will be introduced Long term contracts to be secured with clients

Brushes range from $15-$30 depending on size and type. The average price is $20.

Who will supply your product? A third party local supplier called 'Pooch products'
How does your service/product compare with others in the market?

What is your unique selling position which gives your products/services the edge?

What is the anticipated demand of your customers/clients? I.e. quantity of treatments per week and per month?

What is your pricing strategy? What will be your price modifiers? Provide at least three.
Explain what the value is to the customer.
What is the anticipated growth potential? What will drive this growth?

Provide at least three types of research and development activities you would conduct for the business.
How will you protect your intellectual property? Provide three strategies

Sustainability Planning
provide at least three types of impacts the business could have on the environment. For each impact identified, provide a control measure.

You need to review the additional information below you will need to develop the draft business plan, by completing the steps as required.

STEP 1
Before developing the draft business plan, you will need to analyse the idea, identifying specific goals, objectives and other requirements needed to compile the plan:
n Use the subheadings included within the business plan template to guide your response. You can complete this template by filling out your answers in the spaces provided or copying and pasting the template into a new document.
• Refer to the 'Additional information' section above, as this will help you to develop your plan. You may also need to do some research.
Note: Some fields in the template have already been pre-filled for you. STEP 2
Once you have developed your draft business plan, send the email to Gavin Stead attaching the draft business plan for his approval.

Assessment Task 3: Finalise Business Plan

Part A Develop the business operation plan

TASK INSTRUCTIONS
To begin this part, read the following email and attachments, then complete the tasks that follow.

How do you Maintain a positive working relationship With your suppliers?

Briefly explain the process of how you will provide the service on a daily

Complete the fields with approximate prices and add three more items to the list.

What software do you require? Provide at least three types.

Inventory
Complete the fields with approximate prices and add three more items to the list.

How will your customers get in touch with you? Provide at least five ways.

MARKETING STRATEGY

What market research activities have you completed to help analyse your market? Provide at least three activity types.

What have been the findings of your market research in terms of industry, analysis and trends?
Define your target market, including the following demographics - age, gender, social status, education.

How will you target your products and services to your key customers? Provide at least three strategies.
What will be your customer services standards? Provide at least five.

List at least five businesses strengths, weaknesses, opportunities or threats in the table below and then outline how you plan to address each of the weaknesses/threats.

What strategies will you use for promoting your products and services over a 12 month timeframe? Provide at least three strategies.

How will this help the business? Provide at least three benefits Target date

Provide an overview of sales techniques, resources required and monthly sales target per team

Provide sales channels with three advantages and disadvantages of each.

After calculating the total cost of your expenses complete the following:
What is your total start-up cost?
What are your monthly equipment running
expenses? What are your yearly equipment running expenses?
What will be total costs of wages for owners per year? Explain your calculation
What is the total amount required for the business?

STEP 1
Developing the business operations plan:
- Use the subheadings included within the business operations plan template to guide your response. You can complete this template by filling out your answers in the spaces provided or copying and pasting the template into a new document.
- You will also need to do some research for some areas of the operations plan, such as:
- The marketing sections of the plan, advertising costs and analysis of competitors
- The financial sections to find the costs of products and services.
Note: Some fields in the template have already been pre-filled for you.

STEP 2
Once you have developed your business operations plan, send the email to Gavin Stead attaching the business operations plan for his approval

Part B Develop A contingency plan

Provide contingency plans for three areas of the operations plan that may be required for the business. For each contingency type complete the following analysis:

Based on the email, and business operation plan developed in Part A, develop a contingency plan using the oar' ,te provided.

Step 1 Provide a contingency plan for three different areas of the operations plan that may be required to ensure the business continues to trade, minimising the impact on cash flow and reputation.

STEP 2
Once you have completed the contingency plan, send the email to Gavin Stead attaching the contingency plan for his review.

Part C - Client Meeting

To begn this part, read the following email, then complete the tasks that follow.

You have done a great job completing the business plan and operations plan.
Please schedule a meeting with the clients tomorrow afternoon to present the business and operation plans. Ensure you get their feedback and approval for the documents.

Based on the email, you will be required to facilitate a meeting with the clients. Your assessor will have arranged for an area in which you can meet, your assessor and two students will role play the business partners who will attend your meeting
You should review the Communication Policy and Procedures as this discusses your professional responsibilities.

STEP
Facilitate the meeting and present the business and operations plan for feedback and approval.

During your meeting, your assessor will be observing your ability to demonstrate the following:
- Use oral communication structure and language to suit the audience
- Present the information clearly and concisely.
- Seek feedback.
- Display a respectful and positive communication approach.
- Encourage and participate in two-way communication.
- Address any communication challenges or areas of conflict.
- Used techniques to influence, negotiate, gain consensus and approval.