Course Title: Develop and implement a business plan

Part B: Course Detail

Teaching Period: Term2 2017

Course Code: BUSM6247C

Course Title: Develop and implement a business plan

School: 650T Vocational Business Education

Campus: City Campus

Program: C6140 - Advanced Diploma of Business (Public Relations)

Course Contact: Sally Parrott

Course Contact Phone: +61 3 9925 5175

Course Contact Email: sally.parrott@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

None

Course Description

This unit describes the skills and knowledge required to run a business operation and covers the steps required to develop and implement a business plan.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBMGT617A Develop and implement a business plan

Element:

1. Develop business plan

Performance Criteria:

1.1 Review and evaluate pre-existing strategic, business and operational plan, if available 1.2 Analyse and interpret business vision, mission, values and objectives 1.3 Consult with key stakeholders 1.4 Review market requirements for the product or service, profile customer needs and research pricing options 1.5 Develop performance objectives and measures through consultation with key stakeholders 1.6 Identify financial, human and physical resource requirements for the business 1.7 Consider any permits or licences that may be required for new activity 1.8 Write business plan

Element:

2. Monitor performance

Performance Criteria:

2.1 Communicate business plan to all relevant parties and ensure understanding of performance requirements and timeframes 2.2 Ensure skilled labour is available to implement plan 2.3 Test performance measurement systems and refine, if necessary 2.4 Ensure timely reports on all key aspects of the business are available, user-friendly and balanced in terms of financial and non-financial performance 2.5 Report system failures, product failures and variances to the business plan as they occur

Element:

3. Respond to performance data

Performance Criteria:

3.1 Analyse performance reports against planned objectives 3.2 Review performance indicators and refine if necessary 3.3 Ensure groups and individuals contributing to under-performance are coached, and provide training where appropriate 3.4 Review system processes and work methods regularly as part of continuous improvement

Learning Outcomes



Details of Learning Activities

A range of learning activities are planned for this course including self-paced and collaborative class room based activities.

The self-based activities will be delivered through various technology platforms and will include quizzes, scenario case studies and interactive sessions. The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice skills in a simulated workplace environment.


Teaching Schedule

Week

Week Commencing

Topics

Assessment

1

3 Jul

Course overview – Develop a Business Plan

 

2

10 Jul

Business Profile/ Introduction to Business Plan

 

3

17 Jul

Understanding the business

 

4

24 Jul

Industry & Market Analysis

 

5

31 Jul

Competitive Analysis

 

6

7 Aug

Marketing plans

 

7

14 Aug

Student Consultation session

(Assessment Task 1)

Assessment 1 due

20 Aug. Sun. 11.59pm 

8

21 Aug

Production and Purchasing Plan

 

 

28 Aug –           3 Sep

Mid-Semester Break

 

9

4 Sep

The Management Plan

 

10

11 Sep

Financial Plan

 

11

18 Sep

Implement, monitor and measure performance

 

12

25 Sep

Business Plan - Review

 

13

2 Oct

Student consultation session#2

(Assessment Task 2 – Group Business Plan) 

Assessment 2 due

8 Oct. Sun. 11.59pm

14

9 Oct

Students to prepare for Week 15 & 16

(Business Plan project presentation)

 

15

16 Oct

Business Plan project presentation#1

 

Assessment 3 – Group A Week 15

16

23 Oct

Business Plan project presentation#2

Assessment 3 – Group B Week 16


Learning Resources

Prescribed Texts


References


Other Resources


Overview of Assessment

Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical assessments, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.


Assessment Tasks

Assessment Task 1 – Proposed Business Idea (Business Proposal)

Date handed out: Week 1

Date and time due: Week 7 (20 Aug. 2017: Sun.11.59pm.)

Group or Individual: 2 to 3 students per group

Purpose: This assignment will allow you to develop a business proposal outlining your business idea and revenue streams. The business proposal is to identify if the business idea is a viable business venture.

Requirements: You are required to submit a written business proposal (using the template supplied) which will be an overview of your business idea. The proposal will indicate the feasibility of the idea, the potential income streams, business objectives, structure and licensing requirements, the market available and the financial viability. The proposed document is to be submitted electronically via Blackboard. The report should not exceed 3,000 words.

Assessment Task 2 – The Business Plan Report

Date handed out: Week 4

Date and time due: Week 13 (8 Oct. 2017: Sun.11.59pm.)

Group or Individual: Groups of no more than 4 students

Purpose: This assignment will allow you to demonstrate an understanding of how to develop the various components of a business plan.

Requirements: The second assessment tasks will require students to submit a marketing, operational (production/purchasing), management and financial plan on their business idea. Students are also required to implement and analyse performance reports against planned objectives. The marketing plan will cover elements of market research, marketing objectives, marketing tactics and strategies, market segmentation, targeting & positioning, competitive analysis and promotional plan. The operational plan will include operational requirements (production/purchasing), strategies for increased demand, systems for monitoring key performance areas, business development and industry networks. The management plan will include internal and external management considerations. The financial plan will cover the following elements: estimating revenue relevant to the proposed business idea, estimate expenditure, determining business start-up costs, complete cash flow statements and projections. The report should not exceed 4,000 words.

Assessment Task 3 – Oral presentation

Date handed out: Week 12

Date and time due: Week 15/16 (Class time)

Group or Individual: Individual

Purpose: This assessment will require students to present an overview of their business plan highlighting their findings and reflections. The presentation is an opportunity for you to showcase your business idea and to explain your approach to the development of the business idea and how your business plan has been influenced by topics covered over the semester. 

Requirements: The third assessment tasks will require students to present an overview of their business idea, marketing, operational, management and financials including recommendations. Students are required to submit a hard copy of their oral presentation slides on the day of the oral presentation to the teacher prior to presenting. Students are expected to dress appropriately in an office/business attire and to present themselves in a professional manner.

Feedback

Feedback will be provided throughout the semester in class and/or online discussions.  You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.

 


Assessment Matrix

Course Overview: Access Course Overview