Course Title: Develop and implement a business plan

Part B: Course Detail

Teaching Period: Term2 2016

Course Code: BUSM7924C

Course Title: Develop and implement a business plan

School: 650T Vocational Business Education

Campus: City Campus

Program: C6145 - Advanced Diploma of Marketing

Course Contact: Tim Wallis

Course Contact Phone: +61 3 9925 5423

Course Contact Email: timothy.wallis@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Chris Lee

chris.lee@rmit.edu.au

Phone: 99255471 (Direct)

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.

It applies to individuals who are running an organisation or who take a senior role in determining the effective functioning and success of the organisation. As such, they may oversee the work of a number of teams and other managers.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBMGT617 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


This course is structured to provide students with the optimum learning experience in order to demonstrate the skills and knowledge required to run a business operation and covers the steps required to develop and implement a business plan.


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   Starting    TopicAssessment         
1 4 JulCourse Overview - Develop a Business Plan 
2 11 JulBusiness Profile/ Introduction to Business Plan 
3 18 Jul Understanding the business 
4 25 JulIndustry & Market Analysis 
5 1 AugCompetitive Analysis 
6 8 AugMarketing plans 
7 15 AugStudent Consultation session - (Assessment Task 1)Assessment 1 due 21 Aug. Sun. 11.59pm.
8 22 AugProduction and Purchasing Plan 
  29 AugMID SEMESTER BREAK 
9 5 SepThe Management Plan 
10 12 SepFinancial Plan 
11 19 Sep(Implement, monitor and measure performance) 
12 26 SepStudent consultation session - (Assessment Task 2) 
13 3 OctStudent consultation session (Assessment Task 3)Assessment 2 due 9 Oct. Sun. 11.59pm.
 14 10 Oct

Students to prepare for:

1a. Week 15 Assessment Task 3 - Oral Presentation to the class teacher)

1b. Week 16 (Oral WIL project presentation to the client)

15 17 OctOral presentation to the teacherAssessment Task 3 due week 15
16 24 Oct

1. Oral WIL project presentation to the client

2. Final resubmissions & feedback

 

Week 1 will consist of an induction to the course which will include completion of a pre training review and familiarisation with:
• Your teacher(s) and other students.
• Services and facilities
• Student responsibilities
• Where to get support
• Course requirements, key learning outcomes, assessment, feedback and grading.
• Submission requirements and the resubmission policy
• Plagiarism
• Appeals
• Extensions and Special Consideration
• Privacy

Please note that the above schedule is a guide and may be altered as deemed necessary by your teacher.


Learning Resources

Prescribed Texts


References


Other Resources


Overview of Assessment

Assessment Methods

Assessment methods have been designed to measure achievement of the requirements in a flexible manner over a range of assessment tasks, for example:

  • direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
  • review of final printed documents
  • demonstration of techniques
  • observation of presentations
  • oral or written questioning to assess knowledge of software applications

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Performance Evidence

You must provide evidence of the 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.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • outline processes for developing business plans
  • describe performance objectives and measures including key performance indicators
  • identify key stakeholders.

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 Tasks

Assessment Task 1 – Proposed Business Idea (The Business Proposal)
Date handed out: Week 1
Date and time due: Week 7 (21 Aug. Sun. 11.59pm)
Group or individual: Group of no more than 4 students

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.

 

Details of Assessment:

This assignment MUST be done in relation to your WIL project client’s company.

 

Note: The required structure for this assessment is included in the assessment cover sheet on blackboard.  Students must adhere to the assignment format provided including the assignment cover sheet, and adhere to the presentation requirements below.

 

The assignment must:

    • Include headings and sub-headings,
    • Use Arial font type and size 11pt.,
    • Use minimum one and a half line spacing,
    • Use only black font colour,
    • Be typed print (not hand written) and include numbered pages;
    • Be proofread, including spelling and grammar checked;
    • Include a title page,
    • All information used or cited in your assignment must be referenced where applicable (include a reference page).

 

Information must be well presented in a clear, concise, logical and business-like manner, using clear English expression

 

 

Assessment Task 2 – The Business Plan Report
Date handed out: Week 4
Date and time due: Week 13 (9 Oct. 2016: Sun.11.59pm)
Group or individual: Group 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.

 

Details of Assessment:

This assignment MUST be done in relation to the WIL project client’s company.

 

Note: The required structure for this assessment is included in the assessment cover sheet on blackboard.  Students must adhere to the assignment format provided including the assignment cover sheet and also adhere to the presentation requirements below.

 

The assignment must:

    • Include headings and sub-headings,
    • Use Arial font type and size 11pt.,
    • Use minimum one and a half line spacing,
    • Use only black font colour,
    • Be typed print (not hand written) and include numbered pages;
    • Be proofread, including spelling and grammar checked;
    • Include a title page,
    • All information used or cited in your assignment must be referenced where applicable (include a reference page)

 

Information must be well presented in a clear, concise, logical and business-like manner, using clear English expression.

 

 

 

Assessment Task 3 – Oral Presentation
Date handed out: Week 12
Date and time due: Week 15
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.

Details of Assessment:

Students must address the key requirements specified by the client brief. The order of your oral presentation is important. Has to be succinct and logical flow. Highlight your strengths and show that you understand the client’s requirements. Clearly describe the benefits they will receive from the proposed solutions in your recommendations. It is recommended that you have 10 to 15 slides. Use bullet points, graphs, charts or tables where relevant.

 

 

Submission requirements:
Assessment tasks must be submitted online through blackboard.

You must:
• Retain a copy of your assessment tasks.
• Complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of work for assessment is available on blackboard.
• For group assignments - all group members must complete and sign the cover sheet.
• Each page of your assessment you should include footer with your name(s), student number(s), the title of the assessment, unit code and title and page numbers. For example, Julie Macpherson, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.


Final Date for All Assessments.
Unless the Late Submission Procedures (see above) are applied, No assessment tasks or resubmissions will be accepted after 5pm Friday, Week 16.
 


Assessment Matrix

Marking Guide (competency):
Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.
You need to demonstrate you are competent in each element of the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.

Marking Guide (Grading)
After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills.

You will be provided with an assessment matrix in the assessments area of the unit blackboard shell. Generally, your grading will be assessed against how well you:
• Perform the activities as required by the learning elements of this unit of competency.
• Demonstrate the required knowledge for this unit of competency.
• Execute the required skills for this unit of competency.
• Demonstrate your employability skills through contribution to learning activities related to this assessment, timeliness, use of technology and teamwork.

Final Grades table:
DNS - Did not submit for assessment
NYC - Not yet competent
CAG - Competency achieved – graded
CC - Competent with credit
CDI - Competent with distinction
CHD - Competent with high distinction

Other Information

Late submissions
If circumstances outside your control are likely to prevent you from submitting an assessment item on time, you may apply to your teacher for an extension of up to seven calendar days.
You must apply for an extension at least one working day prior to the submission deadline.
More Information: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf

Special Consideration
Extensions of greater than seven days will only be granted to eligible students through the special consideration process. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.
More Information: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf

Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
More Information: http://rmit.edu.au/browse;ID=7usdbki1fjf31
 

Course Overview: Access Course Overview