Assessment descriptionThis assessment requires you to to research and determine the business needs, and develop a detailed Business plan for your small business. You plan must provide finance, marketing, and provision of products / services to facilitate the business goals and objectives, identify and plan for WHS and Duty of care responsibilities and also include risk management strategies. ProcedureThis requires you to:Research:• Identify the purpose of your business plan• Identify and review the essential components of your business plan• Identify and document your business goals and objectives as a basis for measuring your business performanceDevelop the plan, ensuring you:• Research resources, legal and compliance requirements, specifically in relation to occupational health and safety (WHS), in accordance with business goals and objectives• Research market needs, and market size and potential• Identify sources and costs of finance, from the financial plan, to provide required liquidity and profitability for the business• Identify methods, from the marketing strategies, to promote the market exposure of the business• Identify methods/means of production/operation from the production/operations plan to conform with business goals and objectives• Identify staffing requirements to effectively produce/deliver products/services• Identify specialist services and sources of advice, where required, and cost in accordance with resources availableDevelop strategies for minimising risks, ensuring you:• Identify specific interests and objectives of relevant people and seek and confirm their support of the planned business direction• Identify and develop risk management strategies according to business goals and objectives, and relevant legal requirements• Develop contingency plan to address possible areas of non-conformance with the planSpecificationsYou are to submit the following:• You are to submit your assignment as a professional market submission for your potential business, covering all points mentioned in assessment procedure.Your assessor will be looking for your ability to:• analyse and research business vision, mission, values, objectives, goals, competitors, financial targets, management arrangements, marketing approaches and strategic, business and operational plans• write a business plan which includes a description of the business, products and services, financial, physical and human resource requirements, permit and licence requirements, marketing activity, financial indicators, productivity and performance targets for key result areas• implement a business plan including ensuring skilled labour is available, and that training is provided where appropriate• monitor and respond to business performance including evaluation of performance against key results indicators including profit and loss, community awareness or branding, environmental impact, governance, quality, sales, triple bottom line and the workforce• consult, communicate with and report to key stakeholders including business partners, financiers, customers, staff and technical advisers• provide an analysis of the strengths and weaknesses of a business plan.Adjustment for distance-based learners? No variation of the task is required.? Documentation can be submitted electronically or posted in the mail.
