Course Title: Complete a business plan

Part B: Course Detail

Teaching Period: Term2 2011

Course Code: BUSM6205C

Course Title: Complete a business plan

School: 350T Fashion & Textiles

Campus: Brunswick Campus

Program: C6082 - Advanced Diploma of Textile Design and Development

Course Contact : Julia Raath

Course Contact Phone: +61 3 9925 9201

Course Contact Email:Julia.Raath@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Mark Reid

mark.reid@rmit.edu.au

Nominal Hours: 50

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

Complete a Business Plan is 1 of 3 clustered courses from the Business Project: whioch includes

BUSM6206C Manage finances
MKTG5771C Develop and implement a sales or marketing plan 

You are strongly advised to ensure you are enrolled in all 3 courses to succesfully complete the project

Business Project is taught concurrently with a Design Project and an Industry Project.

Course Description

Determining an enterprise’s financial requirements and setting structural policies and strategies in place is critical to the short and long term financial viability of the business plan.

This subject covers the knowledge & processes required to assess and complete an industry standard small business plan.

Students will consider financial requirements, business viability and future performance of the proposed business venture

This unit is particularly suitable for those wishing to begin small and micro businesses in a variety of textile-based product & service-oriented industries including retail & smallgoods.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSX02302A Complete a business plan

Element:

1. Specify business goals & objectives

Performance Criteria:

1.1 A succinct statement is made about the desired direction of the business and is clearly communicated to relevant stakeholders
1.2 Explicit short, medium & long term objectives are established as a basis for performance measurement, control & adjustment mechanisms
1.3 Stakeholders are encouraged to express their specific interests & objectives & their alignment with the planned business direction is clarified

Element:

2. Identify the need for specialist services

Performance Criteria:

2.1 Specialist services, sources of advice and resources available are identified & costed
2.2 The need for specialist services to compliment in house capabilities is identified as a basis for planning of resource requirements

Element:

3. Formulate the business plan

Performance Criteria:

3.1 The business plan is formulated on the basis of information obtained through research into customer needs, resource requirements and business viability


3.2 A financial plan is formulated t o estimate cash flow projections & budgetary information & to describe the means by which the production/service plans can be implemented and supporting marketing activities can be sustained
3.3 The business plan identifies sales strategies to optimise market exposure and profitability
3.4 A production/service plan is formulated, aimed at supplying goods & services to meet customer expectation & satisfy quality assurance criteria
3.5 Means of achieving the business objectives & communicating benefits of the product/service to the target market are identified in accordance with the financial plan
3.6The plan identifies options for delivery, service & support in accordance with customer requirements, market expectations, budgetary constraints, business objectives and the industrial relations climate
3.7 The business plan specifies the means of supply and distribution to support business initiatives
3.8 The plan specifies human resource requirements needed to effectively produce & deliver the products/services
3.9 The financial plan includes an evaluation of sources and costs of finance required for the liquidity of the business
3.10 Risk management strategies are developed according to the planned business needs

Element:

4. Apply the business plan

Performance Criteria:

4.1 Components of the business plan are mutually supportive and integrated to provide clear and coherent direction for the business operations
4.2 The type & level of information contained in the business plan is oriented to satisfying the needs of financial backers
4.3 Operation & revenue control systems are identified to monitor business performance & customer satisfaction
4.4 The business plan is clearly communicated to relevant stakeholders & staff to ensure their understanding & support


Learning Outcomes


The following learning outcomes relate specifically to Federally-endorsed Employability Skills.

Provided evidence of the following skills is considered essential to demonstrate competency in this unit – on completion the student should be able to:

• Analyse relevant information to identify trends, opportunities, constraints affecting business viability
• Assess financial requirements of the business including finance & capital
• Specify strategies to manage identified risks
• Identify external resources/support required for successful operation of the business
• Identify forms and sources of finance
• Evaluate the strategic advantages of potential alliances
• Relate financial, human resource and operational requirements to the goals & vision of the enterprise
• Analyse complex information & data to determine progress towards business goals & make adjustments to achieve profitability of the business
• Prepare contingency plans for changes in business directions


Over this unit the student should provide evidence of consistency in performance when:

• Organising work
• Completing tasks according to instructions
• Working systematically with attention to detail
• Identifying improvements & avoiding damage
• Using workplace & OHS practices
• Recording and reporting accidents & incidents
• Assessing operational readiness of equipment
• Recognising & adapting to cultural differences in the workplace, including modes of behaviour & interactions



Details of Learning Activities

The main learning activity focusses on the completion of a business plan with a perceived view to establishing a small Textiles or Arts-based business enterprise.

At this level, students will exercise considerable autonomy, responsibility and accountability within potential enterprise structures and are required to make primary contributions to the values, goals and operations of the enterprise.

Students have responsibility for the establishment and review of systems for the site or department. They may work with the assistance of external experts to develop plans and strategies.

The application of skills and knowledge at this level is dependent on considerable understanding of the identified concepts and principles, including technical understanding. They may have responsibility for the planning and management of the work of individuals, teams or departments.

The business plan itself may be developed with personnel at this level in consultation with external agents or consultants, senior management, directors or owner operators.


Teaching Schedule

07.07 Work experience placement or other non-contact activities
14.07 Work experience placement or other non-contact activities


21.07 511.02.09
Feedback from previous term. Discussion of new term’s objectives & commitments. Discussion & preparation of Business Plan Innovic template viewed. Discussion of Final Assessment. Discussion of Mission Statements


28.07 Topic: Specialist services and products for industry


04.08 DVD: Starting a Small Business. Maintenance of Business Plan


11.08 Contracts and contractual agreements Maintenance of Business Plan


18.08 Non-contact Planning and Maintenance of Assessment criteria

 
25.08 Industry excursion: Brunswick Business Incubator. Topic: Formulation of financial plans & sales strategies - accounting hints for Small Arts Business


01.09 DVD: Running the planet – Nike’s business skills revealed. Maintenance of Assessment criteria


08.09 Topic: Communicating to the target market: Marketing Effectiveness for Small Arts Business. Activity: Create Market Survey Documents

 
15.09 Industry excursion: Choy Lawyers, Level 5, 410 Collins Street, Melb.

 
22.09 Checklist & individual review of Business Plan


29.09 Term break
06.10 Term break 


13.10 Checklist & individual review of Business Plan

 
20.10 Complete a Business Plan submitted for assessment. Individual PPT Summary presentations discussed & planned


27.10 Complete a Business Plan reviewed and maintained. Required amendments are completed and re-submitted for final approval – Business Plans which have not been amended according to instructions will have marks deducted. 

03.11 Individual PPT Summary presentations. Complete a Business Plan - Venue TBA


10.11 Assessment Week


Learning Resources

Prescribed Texts

www.business.gov.au Business Entry Point, Commonwealth of Australia.

www.dewrsb.gov.au  Department of Employment, Workplace Relations and Small Business, Commonwealth of Australia.

www.fed.gov.au Federal Government Entry Point, Commonwealth of Australia.

www.ato.gov.au Australian Tax Office, Commonwealth of Australia.


References


Other Resources

Students will need a flashdrive, notebooks, pens.

For excursions students will need to organise their own transport to and from hte venues.


Overview of Assessment

To achieve successful completion of this course students must demonstrate an understanding of all elements & performance criteria 

Assessment tasks have been designed to measure achievement of each element in a flexible manner.

In overview there is one individually submitted assessment task for this subject: Complete a Business Plan.


Assessment Tasks

Term 2 Assessment Task 1: Complete a Business Plan. 60 marks.

Content: Individual assessment on collecting of data, analysis, review and written report of gathered information.

Individual PPT Summary Presentation: 40 marks

Presentation: individual assessment on plan summary as designed PPT 03.11.11 

As instructor and mentor I will work individually with each person to clarify issues that may arise



Assessment Matrix

Complete a Business Plan  
1 Specify business goals & objectives1.1, 1.2, 1.3
2 Identify the need for specialist services2.1, 2.2
3 Formulate the business plan3.1, 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, 3.8, 3.9, 3.10
4 Apply the business plan4.1, 4.2, 4.3, 4.4

Other Information

Overview of Assessment

To achieve successful completion of this course students must demonstrate an understanding of all elements of competency in each unit.

Assessment tasks have been designed to measure achievement of each competency in a flexible manner.

Students will be awarded a grade only if competency has been demonstrated within the standard enrolment period on the first assessment attempt.

Units assessed as ‘not yet competent’ on a first assessment attempt and ‘competent’ on a second or subsequent attempt are to have results amended to competent but are not eligible for grading.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher.

All work must be submitted by the due date.

Course Overview: Access Course Overview