ASSESSMENT 2- BUSINESS PLAN PROJECT

Purpose: The purpose of this assessment is to assess your knowledge required to complete the tasks outlined
in elements and performance criteria of this unit. Find details of the assessment requirements from
https://training.gov.au

ASSESSMENT 2 – BUSINESS PLAN PROJECT

This assessment questions have been mapped against the Knowledge evidence and performance criteria of this
unit. Find details from the mapping document.
LECTURER/ TRAINER: KATE KONGKUM
STUDENT NAME:
STUDENT NUMBER:

While planning can often be considered as time-consuming and temporary loss of earnings, good
planning far outweighs any short-term setbacks that a business will face.

As a matter of fact, planning is one of the most crucial elements of running a business, no matter whether
it is a large multinational corporation trying to plan an expansion or a small business trying to launch a
new product.

For many potential or existing business owners, starting up a project might seem easy, but without
careful planning, it is like building a house without a house plan. The end product might be good but you
will eventually lose track throughout your project that could cause delays and issues which could cost you
a lot more money than first intended.

Similarly, a good business plan will provide a reference point for any business adventurer to return to at
any point during the project. It can help the business planner determine whether they have drifted too
far away from their original vision and therefore allow them to get back on track once again.

Having explained the importance of planning in any business, you will be required to develop a business
plan for the business of your choice and submit your plan one week before the end of your qualification
to your trainer. This project will involve several tasks which as a student, you will need to complete
before starting the next task of your project.
Based on the information provided, you are required to write a business plan for the business of your
choice by answering all the tasks listed below.
ASSESSMENT INSTRUCTIONS
Please complete the student details section.
This project consists of 2 parts:

Part A – requires you to evaluate (if applicable) and plan and develop a business plan for your workplace
or as determined by your trainer or teacher.

Part B – requires you to provide an overview of how you will monitor the performance of the business
plan during implementation and how you will respond to performance data once the business plan has
been implemented.

This assessment is one form of assessment type that is used to collect evidence and will count towards
gaining competence toward this unit.

To demonstrate competence each question must be answered by the student.

You will be required to complete other relevant assessment tasks for this unit.

This project – requires you to plan for and develop a complete business plan.

Essentials Requirements as outlined in the “Context of and specific resources for assessment in the
TP for this unit”:
Assessment must ensure:
 access to appropriate documentation and resources normally used in the workplace.

You are required to use an existing business plan in your workplace or at a minimum have the recent
trading figures and financial details to review the business’ operation.

Alternatively, your trainer or teacher may provide you with a realistic business plan to be applied to an
operation with which you are familiar.

Additional Resources provided for the purpose of this assessment:

1. A business plan template (Word File: BusinessPlanTemplate xx) and a Business Plan Guide
(Wordfile: BusinessPlanGuide xx) which provides detailed instructions for the completion of each
section of the business plan template sourced from www.business.gov.au

2. A template for a 5-year balance sheet forecast which may be used if desired (Excel sheet:
BalanceSheet_5Year).

3. A sample business plan (Word File: Cafe-Paradiso-sample-business-plan) sourced from

https://www.business.qld.gov.au/business/support-tools-grants/tools/business-planning-kit

4. An online template with instructions to prepare a step-by-step business plan can be used by
registering for free with http://toolkit.smallbiz.nsw.gov.au/planning
Part A – Plan and develop the business plan
Your Task:
You are required to review the existing business plan where available and plan and develop a new
business plan for the organisation, addressing all criteria outlined below:

Where the organisation has an existing business plan, review and evaluate the following
documentation if there is no existing business plan these need to be developed using for example the
provided resources listed above. Create a draft and consult with your selected stakeholders to clarify or
verify each aspect.

Attach a briefing document which outlines with whom you have consulted and details of what was
discussed.

You need to reference each source you access to research information like statistics, products,
legislation etc. and attach this as a bibliography to completed work.

As a guideline the following key points need to be addressed (based on the Business template xx) –
your format may however vary:
1. Summary

1. The Business
2. The Market
3. The Future
4. The Finances

2. The Business

2. Business details
3. Registration details
4. Business premises
5. Organisation chart
6. Management & ownership
7. Key personnel
8. Products/services
9. Innovation
10. Insurance
11. Risk management
12. Legal considerations
13. Operations
14. Sustainability plan
3. The Market

1. Market research
2. Market targets
3. Environmental/industry analysis
4. Your customers
5. S.W.O.T. analysis
6. Your competitors
7. Advertising & sales

4. The Future

1. Vision statement
2. Mission statement
3. Goals/objectives
4. Action plan

5. The Finances

1. Key objectives & financial review

2. Assumptions
3. Start-up costs for [YEAR]
4. Balance sheet forecast
5. Profit and loss forecast
6. Expected cash flow
7. Break-even analysis

6. Supporting documentation

ANSWER: A separate template has been provided.

Part B – Monitoring the performance and responding to performance data post-
implementation

Your Task:

This section of the project requires you to answer a series of questions and scenarios
relating to monitoring performance and responding to performance data. Each question
must be answered.

1. Using your completed business plan, who are the relevant parties to whom you need to
communicate the business plan? Which details does this need to include for each party in
terms of performance requirements and timeframes?
Ans: We need to communicated the plan to various stakeholders i.e., The plan needs to be
communicated to the owner and the investors. The owner must know about the
innovative structure and the investors about the financial forecast and requirements. The
owner must know about the innovative structure and the investors about the financial
forecast and requirements. The business plan should be presented within a week of its
completion and the implementation must begin after consultation with the owners and
investors.
All the details that have been mentioned in the plan needs to be included as such for all the
parties. If required detailed financial analysis could be done for the investors.

2. What are the skilled labour requirements in the organisation to implement the business
plan? Provide an overview of skilled labour in each department.
Ans:
 Department  Labour Skills
Requirement
 Human Resources  Hiring the desirable
recruits
 Kitchen  Having an experienced
chef
 Supply chain and  Maintaining a proper
Logistics relation with the suppliers
 Accounts and  Managing the front house
Management and
 3. Provide 2 examples of how you could test the performance measurements you have set
for your business plan.
Ans: By setting benchmarks and assessing the designated outcomes of the plans. Also, by
using quick score balanced scorecard software.

4. List 5 examples for reports and when these would have to be provided to the various
departments in your organisation in terms of timelines and importance.
Ans:
 Type of  Time/Date  Department
Report
 Financial  Soon after the  Accounts
Report business plan
has been formed
 Recruited  Soon after the  Human
Report individuals have Resources
been recruited
 Marketing  After the  Marketing
Report marketing
strategies have
been proposed
 Management  After the  Operations
Report implementation
of the plan
 Innovation  At the initial  The Back
Report stage of the plan House

5. You have noticed that an important product line offered by your organisation becomes
inconsistent due to supply issues. Which actions do you need to take?
Ans: I have to contact the suppliers and make sure that all of the issues have been resolved
and for the time being the purchases have to made from elsewhere. It is of primal
importance that a proper relationship is being maintained with the suppliers

6. On occasion, it may be necessary to refine performance indicators as the set target is

exceeded or can no longer be achieved. List 2 examples where a performance indicator
needs to be refined.
Ans: The two examples are as follows:
When the recruited individuals are not being able to work profoundly

When there is a conflict in the kitchen and the quality of the food is degrading
 7. Your Food and Beverage department showed an underperformance of targeted sales by 5
% last month and again by 7 % this month. The occupancy rate at the hotel for the same
period showed an increase in the average 4% with high profile customers and the number
of covers in the restaurant increased on average by 7 %. There have been also a number
of indications from customers that service attendance is average. Which potential factors
for training could this indicate?
Ans:
The potential factors that must have contributed towards the performance refinement of the
restaurant are:
 The etiquettes of the staff

 The hospitality and the behavioural range of the individuals

 The quality of the food and services

The ability to manage customer relationship in the most authenticated way possible

8. What is the purpose of continuous improvement? How would this be reflected in a

business plan? Provide 2 examples.
Ans: The use of continuous improvement would make sure that an organisation is able to
utilise the resources available properly and ensure the detailed understanding of their
own purpose. It motivates the organisation to work in a much-proliferated manner. The
application of various continuous improvement models would make sure that the
organisation is able to achieve great remarks and the business plan is working in the best
way possible. The two examples include the use of Kanban Model to synchronize the
business operations of the organisation and the use JIT model for enhancing the
productivity and efficiency of the organisation.