ASSESSMENT INSTRUCTIONS - hub.evolvecollege.com Busi… · Web viewThis Assessment Workbook...

AssessmentWorkbook

BUSINESS 1Small Business Planning

- Major Project -

COVER SHEET

STUDENT NAME

STUDENT NUMBER

BUSINESS NAME

DATE

IMPORTANT:

This Assessment Workbook contains section references pertaining to the combined study of:BUSINESS 1 - SMALL BUSINESS PLANNING, andBUSINESS 2 - SMALL BUSINESS OPERATIONS.

You are required to complete this workbook as part of BUSINESS 1, therefore some sections have been removed as they relate to BUSINESS 2 and will appear as strikeouts within the workbook.

B u s i n e s s P l a n v 1 6 . 2 3

EVOLVE COLLEGE Page | 2

CONTENT

ASSESSMENT INSTRUCTIONS.............................................................................................................4

ASSESSMENT CONDITIONS..........................................................................................................4

ASSESSMENT INSTRUCTIONS......................................................................................................4

1. BUSINESS PROFILE.......................................................................................................................6

2. EXECUTIVE SUMMARY.................................................................................................................8

3. PRODUCT/SERVICE AND MARKET ANALYSIS...............................................................................9

3.1 GOALS AND OBJECTIVES.....................................................................................................9

3.2 PRODUCT AND SERVICES....................................................................................................9

3.3 MARKET ANALYSIS............................................................................................................10

3.4 INDUSTRY DESCRIPTION AND OUTLOOK..........................................................................10

3.5 SWOT ANALYSIS................................................................................................................11

3.6 IDENTIFYING AND RESEARCHING OTHER BUSINESSES IN YOUR INDUSTRY......................11

4. MARKETING PLAN..................................................................................................................... 13

PART A.......................................................................................................................................13

PART B....................................................................................................................................... 13

5. LEGAL MATTERS AND RISK MANAGEMENT...............................................................................15

5.1 BUSINESS STRUCTURE......................................................................................................15

5.2 CONTRACTS, LICENCES AND AGREEMENTS......................................................................15

5.3 INTELLECTUAL PROPERTY.................................................................................................16

5.4 INSURANCE.......................................................................................................................16

5.5 LEASES.............................................................................................................................. 16

5.6 EMPLOYEES...................................................................................................................... 16

5.7 FINANCIAL........................................................................................................................ 16

5.8 WORK HEALTH AND SAFETY.............................................................................................16

5.9 RISK MANAGEMENT.........................................................................................................17

5.10 COMPLIANCE....................................................................................................................17

5.11 STANDARDS, AND LEGAL AND ETHICAL TRADING............................................................18

5.11.1 LEGAL AND ETHICAL CONDUCT........................................................................18

5.11.2 ETHICS...............................................................................................................18

5.11.3 TECHNICAL STANDARDS...................................................................................19

6. OPERATING PLAN......................................................................................................................20

6.1 LOCATION.........................................................................................................................20

6.2 PRODUCTION....................................................................................................................20

6.3 SYTEMS & PROCESSES......................................................................................................20

B u s i n e s s P l a n


6.4 COMMON INDUSTRY STANDARDS...................................................................................20

6.5 STRATEGIES FOR INNOVATION.........................................................................................21

6.6 CUSTOMER MANAGEMENT..............................................................................................22

6.7 CHANGE MANAGEMENT..................................................................................................22

6.8 SUPPLIERS.........................................................................................................................22

6.9 PLANT AND EQUIPMENT..................................................................................................22

6.9.1 PLANT AND EQUIPMENT NEEDED TO OPERATE BUSINESS...............................22

6.9.2 PLANT AND EQUIPMENT AQUIRED TO OPERATE BUSINESS.............................22

6.10 STOCK AND INVENTORY...................................................................................................22

6.10.1 CURRENT STOCK...............................................................................................22

6.10.2 MANAGING STOCK............................................................................................22

6.11 PERFORMANCE MEASURES..............................................................................................23

6.11.1 GENERAL ASSESSMENT.....................................................................................23

6.11.2 KPI’s.................................................................................................................. 24

6.12 OTHER PRACTICALITIES.....................................................................................................24

6.13 QUALITY ASSURANCE.......................................................................................................25

7. HUMAN RESOURCES (STAFF) PLAN...........................................................................................26

7.1 STAFF PROJECTIONS.........................................................................................................26

7.2 SUB-CONTRACTORS AND SPECIALIST ADVISERS...............................................................26

7.2.1 SPECIALIST SERVICES **...................................................................................26

7.2.2 BUSINESS ADVISERS AND OTHER EXTERNAL CONTACTS..................................27

7.3 RECRUITMENT (HIRING STAFF) **....................................................................................27

7.4 TRAINING..........................................................................................................................28

7.5 INTERESTED PERSONS......................................................................................................28

8. FINANCIAL PLAN........................................................................................................................29

8.1 START-UP COSTS...............................................................................................................29

8.2 CASH FLOW FORECAST.....................................................................................................29

8.3 PROFIT AND LOSS FORECAST............................................................................................29

8.4 PROFIT AND LOSS STATEMENT.........................................................................................30

8.5 BALANCE SHEET................................................................................................................30

8.6 FINANCIAL RATIOS............................................................................................................30

8.7 SALES ANALYSIS AND FORECAST......................................................................................31

8.8 SOURCES OF FINANCE......................................................................................................31

9. ACTION PLAN.............................................................................................................................32

CLOSING CHECKLIST......................................................................................................................... 33



ASSESSMENT INSTRUCTIONS

ASSESSMENT CONDITIONS

1. Only students enrolled in the Evolve College Subject may complete the assessment tasks2. Under no circumstances can another person or party complete assessments on behalf of

the student without prior consultation with Evolve College Student Services Department3. By logging into the Evolve Hub you agree that you are the student completing each

assessment task as identified by your unique log in credentials4. You do not divulge your log in credentials to any other third persons or third party5. As an Evolve College Student you agree that the work completed for each assessment task

is entirely your own individual work6. In order to achieve satisfactory result in this subject, all questions must be completed and

answered correctly

ASSESSMENT INSTRUCTIONS

1. Each Assessment Task has a unique description and series of numbered assessment questions within it

2. View the colour coded Progress Key located at the top of the screen to monitor your progress on any given Assessment Task

3. Assessment Tasks may consist of Multiple Choice Questions, Matching Exercises, Short Answer Questions, Reports or Assignments

4. Utilise your subject resources including textbooks, manuals, supplementary material and online resources as well as clinical client experience as part of completing your assessments

5. Learning resources for each assessment are indicated under each assessment questions title, this may include references to textbook chapters, online resources or downloadable links

6. Assessments Tasks and the questions within each task may be completed in any order7. Assessment questions do not time out however we recommend you complete at least a

single Assessment Task in one sitting


IMPORTANT:

If you are currently not running a business then use a simulated business to answer all questions.

If NA (Not Applicable) is entered as an answer for any questions your workbook will be deemed incomplete and will be returned to you for resubmission.


8. If you need any assistance at all please contact us by phone on 1300 880 885 (Mon-Fri 9-5pm) or email your query to our Student Services team at [email protected] and place ATT: EVOLVE HUB in the Subject field.



1. BUSINESS PROFILE

BUSINESS NAME

DATE REGISTERED

ADDRESS

PHONE

FAX

MOBILE

EMAIL

AUSTRALIAN BUSINESS NUMBER (ABN)If you do not have an ABN then insert a fictitious number with the correct number of digits for hypothetical purposes.For details refer to: https://abr.business.gov.au/HelpAbnFormat.aspx

DATE REGISTERED

BUSINESS STRUCTURE

OWNERS


https://abr.business.gov.au/HelpAbnFormat.aspx


REGISTERED FOR GOODS AND SERVICES TAX (GST)

Yes / No

ACCOUNTING BASIS

Cash / Accruals (Non Cash)

DATE REGISTERED

TAX FILE NUMBER (TFN)Insert a fictitious number with the correct number of digits, for hypothetical purposes. Do not insert your actual TFN.For details refer to: http://www.mathgen.ch/codes/tfn.html

AUSTRALIAN COMPANY NUMBER (ACN)

DATE REGISTERED


http://www.mathgen.ch/codes/tfn.html


2. EXECUTIVE SUMMARY



3. PRODUCT/SERVICE AND MARKET ANALYSIS

3.1 GOALS AND OBJECTIVES

GOAL OBJECTIVE

1 Customer needs

2 Family or community benefits

3 Financial projections

4 Lifestyle issues

5 Market focus of the business

6Proposed size and scale of the

business

7 Social responsibility

3.2 PRODUCT AND SERVICES

1. Product/Service

2. Key Features

3. Unique Features and Benefits

4. Limitations



5. Cost and Sale Price

3.3 MARKET ANALYSIS

1. Clientele

2. Local/Regional/National Market

3. Target Customers and what they are like/are looking for

4. Type of Market, Industry or Environment business will operate in

5. Market Size

6. Seasonal Influences

7. Price Ranges

8. Growing/Declining Market

3.4 INDUSTRY DESCRIPTION AND OUTLOOK



3.5 SWOT ANALYSIS

STRENGTH Strategy

WEAKNESS Strategy

OPPORTUNITY Strategy

THREAT Strategy

3.6 IDENTIFYING AND RESEARCHING OTHER BUSINESSES IN YOUR INDUSTRY

COMPANY/BUSINESS NAME SIZE

SALES MIX (PRODUCTS/SERVICES)

YEARS IN BUSINESS

CUSTOMER REACTION OR RESPONSE





4. MARKETING PLAN

PART A

ITEM NOTES/ANSWER ACTIONS

1 Promotion/launch of product/service

2 Brand development and strategy

3 Signage requirements?

4 Printed materials

5 Selling methods

6 Online presence

7 Trade shows, exhibitions or networks

8Development of relationships with clientele

9Assessing how effective different media and promotions have been

10 Marketing budget and allocation

PART B

ADVERTISING AND PROMOTION



PLANNED PROMOTION/ADVERTISING TYPE

Cost

EXPECTED BUSINESS IMPROVEMENT

Target date



5. LEGAL MATTERS AND RISK MANAGEMENT

5.1 BUSINESS STRUCTURE

APPLICABLE

Indicatewith a X

BUSINESS STRUCTURE

Company

Sole Trader

Partnership

Other (provide details):

5.2 CONTRACTS, LICENCES AND AGREEMENTS

APPLICABLE

Indicatewith a X

LICENCE/CONTRACT/AGREEMENT STATUS/ACTION

Operational licences, permits or registrations

Business purchase or sale contract

Franchise agreement

Plant and equipment purchase or maintenance

Advertising contracts

Distribution rights

Purchase or supply contracts

Service contracts

Loan/finance contracts

Agreements with customers and contractorsCooperative agreements with



other businesses

5.3 INTELLECTUAL PROPERTY

IP ASSET TYPE OF PROTECTION EXPIRY DATE CONDITIONS OF PROTECTION

5.4 INSURANCE

5.5 LEASES

5.6 EMPLOYEES

5.7 FINANCIAL

5.8 WORK HEALTH AND SAFETY

WHS RISK LIKELIHOOD IMPACT STRATEGY



LEGAL CONSIDERATIONS

5.9 RISK MANAGEMENT

RISK DESCRIPTION

INTERNAL OR EXTERNAL RISKINT / EXT

LIKELIHOODVL/L/M/H/VH

IMPACTVL/L/M/H/VH

PRIORITYVL/L/M/H/VH

PREVENTATIVE ACTION (Risk Management Strategy)

CONTINGENCY PLANS

5.10 COMPLIANCE

RESEARCHWhere would you go to find the

information?

ACTIONHow would it apply to a business

scenario?

Note: you currently are not in business please use a simulated business

1 Racial Discrimination Act(example

Prohibits discrimination on the basis of race - website: Commonwealth Consolidated Acts

Let all employees know that racial discrimination will not be tolerated in the workplace.



provided)

2 Sex Discrimination Act

3 Age Discrimination Act

4 Disability Discrimination Act

5Australian Taxation Office (ATO)

6

Australian Competition and Consumer Commission (ACCC)

7

Australian Securities and Investments Commission (ASIC)

8 WHS legislation

9 Workers Compensation Act

10 Fair Work Act

5.11 STANDARDS, AND LEGAL AND ETHICAL TRADING

5.11.1 LEGAL AND ETHICAL CONDUCT

ITEM NOTES ACTION

1 Business activities regulated under Australian Consumer Law (ACCC)

2 Policies whereby employer and staff understand legal obligations to clients



3 Customer privacy laws

5.11.2 ETHICS

ITEM NOTES ACTION

Government or industry Codes of Practice (or conduct)orOwn established Business Code of Practice

5.11.3 TECHNICAL STANDARDS

ITEM NOTES ACTION

Technical standards applying to the business

Responding to goods and services not being provided in accordance with requirements



6. OPERATING PLAN

6.1 LOCATION

6.2 PRODUCTION

6.3 SYTEMS & PROCESSES

6.4 COMMON INDUSTRY STANDARDS

OPERATIONAL FEATURE

WHAT ACTIONS NEED TO BE PUT IN PLACE TO DEVELOP YOUR BUSINESS

Cost(example provided)

Ensure costs are kept relative to what the market or clients are prepared to pay so that you are not out-costed (making an on-going loss) from producing the product or service

Quality(example provided)

Ensure that to maintain the quality of the product or service, costings are reviewed and the necessary on-charging to clients is considered and determined (i.e. any required change or increase in price that the product is sold for)

Wastage(example provided)

Ensure staff are educated and trained on correct procedures and techniques/tools for producing the product and how to ensure the raw materials and resources involved in the production process are used efficiently and effectively

Flexibility

Skill levels

Dependability

Scheduling



Downtime

Safety

Service

Technology

Innovation

6.5 STRATEGIES FOR INNOVATION

ITEM YOUR IDEAS/SUGGESTIONS

1 What is the role of innovation and how can it assist you in your business?

2 What technologies are you using/will you use in your business?

3 What technologies could you implement that would better serve you?

4 Could you develop existing products or services or develop new ones?

5 How could you improve customer service?

6 How could you improve budgetary performance?

7 Do your working conditions need to be improved?

8 Is your business socially responsible? Are you an active member of your local/larger community?



6.6 CUSTOMER MANAGEMENT

6.7 CHANGE MANAGEMENT

CHANGE MANAGEMENT REQUIREMENTS

NOTES

In implementing change, you need to ensure all team members are briefed, and the change is given the priority it requires. Change may require an alteration of policy, which should be published and made available to all, relevant IT needs should be addressed, and staff training may be required.In implementing change, or if there is a change in the industry, you will also need to consider how this will impact your business plan. Identify gaps between your current business plan and what is now required, and how you propose to fill that gap.

6.8 SUPPLIERS

6.9 PLANT AND EQUIPMENT

6.9.1 PLANT AND EQUIPMENT NEEDED TO OPERATE BUSINESS

6.9.2 PLANT AND EQUIPMENT AQUIRED TO OPERATE BUSINESS

6.10 STOCK AND INVENTORY

6.10.1 CURRENT STOCK

DESCRIPTION OF ITEMUNIT PRICE

QTY IN STOCK

TOTAL VALUE

6.10.2 MANAGING STOCK



STOCK CONTROL SYSTEM

ADVANTAGES DISADVANTAGES YOUR COMMENTS

Increasing stock level

Keeping lots of stockKeeping little/no stock – ordering as needed

6.11 PERFORMANCE MEASURES

6.11.1 GENERAL ASSESSMENT

ITEM YOUR COMMENTS/SUGGESTIONS

1 What is a qualitative measure?

2 What is a quantitative measure?

3 How will you monitor your business’ performance?

4

How will you identify if your production/operation conforms with your business goals and objectives?

5 What will be your frequency of monitoring?

6 Who will do the monitoring?

7Where will monitoring information be stored, and who will have access to it?

8 How will you research and



record business improvements?

6.11.2 KPI’s

ITEM YOUR COMMENTS/SUGGESTIONS

1 Promotion KPIs

2 Advertising KPIs

3 Market share

4 Customer feedback

5 Number of clients per week

6

Revenue growth/customer growth/ expense reduction/organisational expansion

7Adjustments to business operations as a result of reviewing your KPIs

6.12 OTHER PRACTICALITIES

OTHER REQUIREMENTS COMMENTS/SUGGESTIONS

1 Technology

2 Trading Hours

3 Communication Channels

4 Credit Policy



5 Warranties & Refunds

6 Quality Control

7 Memberships & Affiliations

8 Growth

6.13 QUALITY ASSURANCE

QUALITY ASSURANCE SYSTEMIN PLACE? YES/NO

ACTION(Corrective)

1 Quality system

2 Quality assurance

3 Quality control

4 Quality management



7. HUMAN RESOURCES (STAFF) PLAN

7.1 STAFF PROJECTIONS

NAME POSITIONSKILL AND EXPERIENCE REQUIRED

JOB DESCRIPTION

7.2 SUB-CONTRACTORS AND SPECIALIST ADVISERS

7.2.1 SPECIALIST SERVICES **

** If you currently do not engage these services, please research potential services that you may use in the future.

SPECIALIST SERVICES/SOURCES OF ADVICE WHY REQUIRED COST



7.2.2 BUSINESS ADVISERS AND OTHER EXTERNAL CONTACTS

NAME CONTACT DETAILS

Accountant:

Solicitor:

Bankers:

Trade or industry association:

Consultants:

Insurance company:

Other:

7.3 RECRUITMENT (HIRING STAFF) **

** If you currently don’t have staff, apply a scenario based on if you were to employ staff.

1. What processes would you put in place for recruitment and interviewing?

2. What would you outline in the staff code of conduct?



3. What would you implement for a staff induction program?

7.4 TRAINING

7.4.1 EXTERNAL TRAINING

7.4.2 ON-THE-JOB TRAINING

7.5 INTERESTED PERSONS

INTERESTED PERSON METHOD OF CONFIRMING SUPPORT

Bank Manager

Local Council

Neighbours (particularly if your business will produce noise)



8. FINANCIAL PLAN

8.1 START-UP COSTS

Complete the following actions regarding your Start-Up Costs spreadsheet:

ACTION TAKEN: YES/NO

BLANK SPREADSHEET DOWNLOADED

DATA ENTERED

COMPLETED SPREADSHEET UPLOADED (SUBMITTED VIA HUB)

Refer to your completed Start-Up Costs spreadsheet to answer the following questions:

TOTAL START-UP OPERATIONS COSTS: $

TOTAL START UP EQUIPMENT/CAPITAL COSTS: $

TOTAL START UP COSTS: $

8.2 CASH FLOW FORECAST

Complete the following actions regarding your Cash Flow Forecast spreadsheet:



DATA ENTERED


Refer to your completed Cash Flow Forecast spreadsheet to answer the following question:

ESTIMATED CASH POSITION at the end of the 12 month period: $

8.3 PROFIT AND LOSS FORECAST

Complete the following actions regarding your Profit and Loss Forecast spreadsheet:





DATA ENTERED


Refer to your completed Profit and Loss Forecast spreadsheet to answer the following question:

TOTAL FORECASTED ‘NET PROFIT’ for the 12 months $

8.4 PROFIT AND LOSS STATEMENT

Refer to your Profit and Loss Forecast and Statement spreadsheets to answer the following question:

NET PROFIT DIFFERENCE b/w P&L Forecast and P&L Statementfor the 12 months

$

8.5 BALANCE SHEET

Complete the following actions regarding your Balance Sheet spreadsheet:



DATA ENTERED


Refer to your Balance Sheet spreadsheet to answer the following question:

TOTAL OWNER’S EQUITY $

8.6 FINANCIAL RATIOS

RATIO RESULT

Gross profit margin (%)

Net profit margin (%)



8.7 SALES ANALYSIS AND FORECAST

SEGMENT CURRENT YEAR

2ND YEAR

3RD YEAR

(e.g. by area, product, store, customer type, distribution method)

Total $ Vol. (units)

Market share %

Total $

Vol. (units)

Market share %

Total $

Vol. (units)

Market share %

Total sales ($) $ $ $

8.8 SOURCES OF FINANCE

FINANCIAL OBJECTIVES COMPLETED ACTION

SOURCES AND COSTS OF FINANCE COMPLETED ACTION



9. ACTION PLAN

ACTION DATE INITIATED

DATE FORFOLLOW UP

PERSONRESPONSIBLE DEADLINES OUTCOME COSTS



CLOSING CHECKLIST

Congratulations you have now completed your Assessment Workbook.

Please ensure you complete the final steps by using the checklist below:

STEP 1 Check you have completed the front Cover Page

STEP 2 Ensure you have answered ALL assessment questions within the documentNote: If you leave any blank boxes your assessment will not be marked and will be returned to you for completion

STEP 3 Ensure you have completed the 4 spreadsheets

STEP 4 Fill out the Declaration FormNote: once filled out and signed you will need to scan your declaration form

STEP 5 Save all your documents

STEP 6 Upload your documents via the Evolve Hub


Date post:	28-Jun-2020
Category:	Documents
Upload:	others
View:	0 times
Download:	0 times

ASSESSMENT INSTRUCTIONS - hub.evolvecollege.com Busi… · Web viewThis Assessment Workbook...

Documents