Assessment: Management and Performance Monitoring Plan

Assessment Activity BSBMGT617A Develop and implement a business plan Assessment 120 Student ID: Type: Assignment Duration/Due: 4 weeks Name: Question # Question 1 You and your business partner have decided to open a small business marketing consultancy in Sydney’s bustling Chinatown district, close to The Sydney Business and Travel Academy. Marks 60 You have borrowed $75,000 from the bank to get started, and have each contributed $20,000 in cash, for a total amount of $115,000.

Initially, the two of you will be the only full-time employees, but you plan to employ more staff as the business grows. For this assessment you will need to develop two profesionally presented and detailed plans – the business plan, and the performance monitoring plan. The business plan should be detailed, practical and have the following sections as a minimum: § Table of contents Company vision, mission, values and objectives § Stakeholder consultation § Market requirements and customer profile § Pricing strategy § Resource requirements (financial, human and physical) § Legislative requirements (local, state and federal) § 30-day Start-up Action plan Your business performance monitoring plan will detail how you will monitor the performance of your startup business.

It will need to include details of the key performance indicators you will use, financial management strategies (including target ratios), human resource performance monitoring, your plan for continuous improvement, and details of how the business plan will be amended and updated as required. A large part of this assignment involves research. The internet is not your only tool. Seek advice and assistance from your trainer, government bodies, associations and business owners where appropriate. All information sources must be acknowledged and referenced. Thursday, 6 October 2011 1/1

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