Bsbmgt617 Develop And Implement A Assessment Answers

A business plan is a document used by managers to communicate a business Idea, and obtain approval or financial support that will allow the idea to be implemented. A business plan serves four critical functions:

1. Allows managers and business owners to research and plan business goals and strategies from a realistic and considered basis, and to focus their energies and resources appropriately.
2. Ensures that all aspects of business planning including risks and market conditions, are factored In to provide clarity and direction for the organisation.
3. Provides managers or business owners with a document they can use to communicate with key stakeholders or third parties such as banks, shareholders, employees or investors.
4. Documents performance goals and objectives which can be measured and used to benchmark actual performance against planned performance criteria.

Competitor analysis

• Most organisations are competing with similar businesses to attract market share.
• When analysing competitors, you need to consider their strengths and weaknesses in comparison to your own business, as well as marketing strategies, product/service offers and points of difference.
• When developing a business plan, having a well-researched and realistic understanding of your competitors will ensure you set realistic measures, and focus your business activities and resources appropriately.
• When using the business plan as a basis for attracting funding or investors, you will need to demonstrate how you will combat the threat of competitors, and that your business has analysed market opportunities to achieve the desired business goals.

Financing arrangements or financial targets

• Analysing financial arrangements such as available capital, leasing arrangements, interest payment schedules or other financial implications means that the business plan will be realistic and practical.
• You will need to demonstrate that the business plan has realistic financial goals or targets based on analysis of the organisation's current and planned financing arrangements.

Researching market requirements Involves understanding the needs and wants of the market In which you operate, or In the case of a start-up business, intend to operate In. Understanding your market Involves asking the following three questions:

What business are you In? Review your mission statement and be sure you are dear on what It is you are trying to achieve, and how your offering is different or unique to what your competitors are offering. tf you cannot articulate what business you are In then it will make it very difficult to market what you are offering.

Who are your target markets? You must identify who your target market is.

Who Is your 'ideal customer' and what are their needs and wants? Knowing this information will help you to develop a product/service that meets a specific market need. It will als0 allow you to develop a marketing plan that caters directly to this need.

What do your customers buy? What benefits do your customers think they receive from your product/service? Accessing and analysing data that demonstrates what your 'ideal customer' buys and what benefits they perceive this product/service provkfes them with will inform your marketing plan. For example, if research data shows that customers purchasing refrigerators value a good energy rating, because it means the refrigerator Is more cost-efficient to run, then it would be critical for a retailer selling fridges to include this Information in their marketing plan/

Answer:

Introduction 

Fast Track Couriers is a courier company which serves from last 15 years. The purpose of this business plan is to propose a new business strategy for the company that can help the company to enhance their profit by providing extended services across the current business region Sydney. The business plan will also includes the stakeholder communication strategy and Performance measurement plan.

Description of the business 

History:

Fast Track Couriers is a courier company which serves from last 15 years. The reputation of this company in delivery market has increased from last 12 years. The sales profit has increased throughout the business history with the steady growth of the client based and consumer satisfaction level.

Business objectives:

The mission of this business is satisfying the clients with quality and time efficient service while increasing the Net revenue by increasing market share, extended business operation, accessibility and high profit margin.

• To commence deliveries to the several other regions including Sydney within next 12 months
• To Increase sales by 40% in next 3 years

Keys of success

• Satisfying the customers through the service excellence
• Facilitating and advancing the trucking operation to increase operational efficiency
• Increasing recognition through strategic promotion and marketing
• Increasing the Return On Investment my reducing the operational cost wile keeping the product and service price unchanged

Products and service 

The product and service of Fast Track Courier is related to the pickup and delivery system within the NSW, mainly in Sydney. Apart from that the company has also online booking and payment facilities for their customer. Apart from that, online and telephone based consumer helpline is also available during the working hours. The major products and services are listed below:

• Order booking for courier, delivery and logistics operation
• Picking the medium to large packages from the customer site
• Delivering the packages to the detestation within the time by truck
• Customer helpline

Market analysis and strategy 

Structure of market

The courier service market of NSW mainly operates the individual clients with lightweight goods, dealers and distributers with medium to high weight goods. The price range of the service is based on the weight of the product and the fragility. Because of the geographical advantage, the courier service of this region is land based traffic.  

Competitors

The highly reputed courier service companies in New South Wales and corresponding areas are StarTrack, Australia Post, DHL, Fastway Couriers and Toll. All competitors are well experienced in this market and they are operating their business through New South Wales. Some of the competitors have very limited and start-up international courier service.

Market segment

The market is segmented through the order type. The order type is segmented into two types namely order within the Sydney and interregional orders. The orders within Sydney refers the orders that has both peak up and delivery destination within Sydney and the interregional order refers the order that deals with location out of the Sydney.

Trend

As per the report of the sales department it has been found that the recently increasing number of clients is requiring the service that would not be limited in the Sydney. Clients are trying to book the courier services for regional NSW towns, Newcastle, Wollongong and the Central West.

Price

Marketing and promotional plan

Business operation 

Productivity and performance target

Financial resource requirement

Human resource requirement

• 2 employees for marketing and sales
• 1 sales manager for managing the sales team
• 1 financial manager to publish budget and lead accountings
• 1 Accounts Clark for regular accounting plan
• 1 Human Resource Officer for recruiting new employees and empowering existing workforce
• 2 Administration officer to managing the facilities, equipments and maintaining premise
• 1 Logistic manager for leading and managing the drivers and the direct logistic operations
• 20 truck driver for picking up, transporting and dropping the packages to destination

 Physical resource requirement

• 10 new trucks with existing 10 trucks
• Driver controlled automatic loading and unloading system for each truck installed at the gate
• PDA (Personal Digital assistance) system for each track driver and the logistic manager
• GPS system in each truck to systematic navigation and efficient logistic operation

Management and organisational structure 

Structure

The organisational structure follows a hierarchy based structure where the management team and owners are at the top most position and the Truck drivers and accounts Clark are at ground level. In the following figure the organisation structure is presented:

Roles and responsibilities

Operational workflow

In the following operational workflow round shapes represents the operating departments and responsible personnel for specific function. The rectangle shapes of this flow represent the various operations and their value exchange with other function. The thing arrow represents the flow of the procedure and the thin arrow refers the direction of output from different operational units.

Proposal 

The following proposals have been made for improving the total quality of the Fast Track courier services.

• Purchasing 10 new Trucks
• Installing new automatic gate in 10 existing truck an 10 new tracks
• One Driver will be allocated for each Truck, which implies 20 drivers from 20 truck
• Cost for truck will be procured from bank loan

KPI (Key Performance Indicators)

Financial background

Risk analysis 

Licensing 

The following licences and legislative registrations are required to continue the business operation of Fast Track with new changes in physical accessibility and business operation.

• Driving licences for drivers
• Inter region transportation business licence
• Fair Trading Registry
• Class 3 vehicle access permit
• Registration of Australian Business Number
• Registration for Australian Goods and Service Tax
• Licence for Fuel Tax Credit
• Licence for Occupational Health and Safety ensured Workforce

Communication strategy 

Assessment 3- Research Project

Q1.

Corrective performance improvement will be required to improve the average order processing time. In orders to implement the Corrective performance improvement management, the step by step operational plan has to be mapped with the required timeline. After complete documentation the essential requirement have to be identified. As per the findings each and individual operational unit have to be facilitated.

Decreasing average cost per process will require interim performance improvement there the step by step operational plan and required resources have to be mapped with the required cost. After complete documentation the essential adjustment, budget planning and required changes in inbound goods have to be identified (Van Der Aalst 2013). As per the findings each and individual operational cost the new cost planning have to be implemented.

To reduce quality error rate the preventive performance improvement will be required. In orders to implement the preventive performance improvement management, the step by step operational plan has to be mapped with potential error assessment. After complete documentation of the error the loopholes in the system can be identified (Saunders and Lewis 2012). As per the findings the management has to ensure that in next phase the process will prevent all the potential corrupted operations.  

Adoptive performance improvement will be required to improve the average order processing time. In orders to implement the Adoptive performance improvement management, the workforce have to be assessed though identifying their skills and weakness. As per this report the adaptation plan including train and development will be required for the existing workforce.

Q2

1. The rate of absenteeism is higher than expected, which had a huge impact on overall productivity and quality

The absent rate is very high from the expectation ratio in the initial business plan

The percentage of absence is not stable, within June to August the employee presence is extremely low

The productivity or number of process order decreased within the timeline of April to July because of the lack of employees and proficiency

1. Lack of employee satisfaction could cause a huge absence count and the performance issue

Lack of employee expertise reduces the total workforce affiance and delayed process

Inappropriate leadership and supervising plan reduced the operational integrity within the workforce Poor communication and information integration within the coordinating management and execution teams Lack of employee training and development caused poor performance improvement within the workforce Lack of performance recognition and encouragement system reduce the employee retention and increased employee turnover.

Q3

1. Training and development of existing employees are required to improve their skill and performance level Regular maintenance of electrical and mechanical equipments are required to improve the execution speed and efficiency Monitoring and problem identification system are required to eliminate the faults and loopholes in system.

1. Along with focusing on the productivity and rate of processed order the quality assurance is also essential. For this the management can incorporate new parameters in performance measurement system which is the time quality ratio. Through this the management can identify how much quality is compromised due to strict and critical time limit.
2. Developing a scorecard which comprises all the necessary attributes of performance measurement is essential (Kerzner and Kerzner 2017). This scorecard template has to be distributed among the team leaders. The team leaders will report the management with the scorecards of the team members in a particular frequency.

As per the score card and the attributed scoring system the management can identify the performance deficiency of each of the employees. As per the performance issue the management can make different groups of employees. In every group the employees would have similar deficiencies in performance

After initiating the training and development plan the employees will be interviewed regularly in order to keep the progress report updated (Jeston 2014). As per the preference and ambiguities of the employees the management has to request the Human Resource Officer to make necessary changes in the training and development program.  

The well performing employees will be reworded with incentives, compensations and special bonus. It will allow the workforce to keep themselves motivated under a healthy competitive environment

Q4:

1. This scorecard template has to be distributed among the team leaders. The team leaders will report the management with the scorecards of the team members regular basis (Hammer 2015). The trainee employees will be interviewed regularly in order to keep the progress report updated. As per the preference and ambiguities of the employees the management has to request the Human Resource Officer to make necessary changes in the training and development program.  
2. The score card based KPI implementation plan will help the management to identify the strength, weakness and training needs of each employee. Training and development will increase the performance level and expertise level of workforce. The performance recognition and rewording system will allow the workforce to keep themselves motivated under a healthy competitive environment (Weske 2012). Maintaining the electronic and mechanical equipments with regular services and calibration system will reduce the operational obstacles.

References:

Hammer, M., 2015. What is business process management?. In Handbook on business process management 1 (pp. 3-16). Springer, Berlin, Heidelberg.

Jeston, J., 2014. Business process management. Routledge.

Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Rosemann, M. and vom Brocke, J., 2015. The six core elements of business process management. In Handbook on business process management 1 (pp. 105-122). Springer, Berlin, Heidelberg.

Saunders, M.N. and Lewis, P., 2012. Doing research in business & management: An essential guide to planning your project. Pearson.

Van Der Aalst, W.M., 2013. Business process management: a comprehensive survey. ISRN Software Engineering, 2013.

Weske, M., 2012. Business process management architectures. In Business Process Management (pp. 333-371). Springer, Berlin, Heidelberg.