Course Title: Research and develop business plans
Part B: Course Detail
Teaching Period: Term1 2024
Course Code: BUSM8904C
Course Title: Research and develop business plans
Important Information:
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
School: 525T Business & Enterprise
Campus: City Campus
Program: C4421 - Certificate IV in Entrepreneurship and New Business
Course Contact: Theresa Lyford
Course Contact Phone: +61 3 9925 5444
Course Contact Email: theresa.lyford@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Joe Matthews
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
Nil
Course Description
This unit describes the skills and knowledge required to research and develop business plans for achieving business goals and objectives.
The unit applies to those establishing or operating a business providing self-employment, as well as those establishing a new venture as part of a larger organisation.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBESB401 Research and develop business plans |
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Element: |
1.Prepare to develop business plan |
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Performance Criteria: |
.1 Identify purpose and required components of business plan 1.2 Identify and document business goals, objectives and budget 1.3 Research market needs and estimate market size |
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Element: |
2.Draft a business plan |
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Performance Criteria: |
2.1 Establish resource, legal and compliance requirements according to identified business goals and objectives 2.2 Assess product mix, volumes and pricing opportunities relevant to the identified target market and according to business goals and objectives 2.3 Plan marketing activities relevant to the product mix and according to marketing objectives and strategies and budgetary requirements 2.4 Develop draft plan according to identified business goals, objectives and market needs 2.5 Analyse draft plan and identify, assess and prioritise internal and external risks according to workplace procedures 2.6 Research specialist services and sources of advice and cost according to available resources |
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Element: |
3.Create a business plan |
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Performance Criteria: |
3.1 Identify costs associated with production and delivery of business products and/or services 3.2 Calculate prices based on costs and profit targets, as a charge-out rate for labour or unit price for products and/or services 3.3 Prepare cash flow projections to enable business operation according to business plan and legal requirements 3.4 Select budget targets to enable ongoing monitoring of financial performance 3.5 Identify sources of finance for required liquidity according to business goals and objectives and workplace procedures |
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Element: |
4.Finalise business planning and plan for risk |
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Performance Criteria: |
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Learning Outcomes
On successful completion of this course you will have developed and applied the skills and knowledge required to demonstrate competency in the above elements.
Details of Learning Activities
This unit is 'clustered' (combined) with the unit called BSBESB302 Develop and present business proposals
For unit BSBESB401 - Research and develop business plans, students will be undertaking a range of 'in class' activities where they assume the role of a business advisor. Students undertake research for a fictitious 'client' and then develop and present a business proposal for them.
Teaching Schedule
| Week 1 | 12 Feb |
BEBESB401 – Research and develop business plans Module 1: Foundations of business planning Purpose, goals and objectives, budgets, |
Introduction to the course, review of business planning. Identifying new business opportunity |
| Week 2 | 19 Feb | Market factors, analysis and opportunities |
Review of the business environment and its impact on business decision making |
| Week 3 | 26 Feb |
Module 2: Business plan development Stakeholder, resources, legal and compliance, financials, marketing |
Reviewing 'stakeholders', legal and ethics, and integrating into the business plan BSBESB401 AT2A |
| Week 4 | 4 March |
Developing the operations plan and contingency plan risks and contingencies |
The 'nuts and bolts' of the business plan is the 'operations plan'. Review of content and purpose |
| Week 5 | 11 March | BSBESB401 AT1 Quiz – in class via CANVAS access |
BSBESB401 AT1 Quiz |
| Week 6 | 18 March | Module 3: Finalise the Business Plan |
Finalising the business plan, and ensuring clarity and consistency when presenting to clients BSBESB401 AT2B AT3A AT3B |
| Week 7 | 25 March |
Client meetings – Business Plan
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Mid semester break |
| Week 8 | 8 April |
BSBESB302 – Develop and present business proposals Introduction, Assessments review |
Review the new business opportunity and how to apply the learnings |
| Week 9 | 15 April | Developing business proposals (Module 1) | Reviewing the content and structure of a business proposal as it applies to the student's nominated 'new business venture' |
| Week 10 | 22 April |
Research and evaluate business ideas Risks, legal and statutory framework |
Reviewing the viability of the business concept, and legal requirements for operating the business |
| Week 11 | 29 April |
Preparing business proposals
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Preparing a business proposal, including costs, revenue, ROI, and risks |
| Week 12 | 6 May | BSBESB302 AT1 Quiz – in-class via CANVAS access |
Quiz |
| Week 13 | 13 May | Preparing business proposals | Preparing the new business proposal suitable for showing to stakeholders |
| Week 14 | 20 May | Finalising business proposals (Module 2) | Finalising the new business proposal |
| Week 15 | 27 May |
Presentations – business proposals
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Presenting the new business proposal Assessments Due: BSBESB302 AT2B / AT2C / AT2D |
| Week 16 | 3 June | Re-work if required |
Learning Resources
Prescribed Texts
References
Other Resources
All resources are provided to the student, including an online Learning Management System, learner guides, lecture slides, simulated business environment, and templaes.
Overview of Assessment
Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral/written presentations and through the application of learned skills and insights. Full assessment briefs will be provided and can be found on CANVAS.
Assessment Tasks
BSBESB401 - Research and develop business plans has three (3) assessment tasks undertaken in the second half of the semester.
Assessment Task 1: Written Questions
This is an open book written assessment.
There are fourteen (14) questions and some questions have sub-parts.
You must answer all questions and their parts correctly to achieve a satisfactory outcome for this task.
- Due week
Assessment Task 2: New business client (project)
This task consists of two parts:
- In Part A, you must prepare to develop a business plan.
- In Part B, you must develop a draft business plan
- Due week 15
Assessment Task 3: Finalise the buisness plan (project and role play)
This task has three (3) parts:
- In Part A, you must develop a business operation plan, including the financials and a marketing plan.
- In Part B, you must develop a contingency plan for areas of the business operations plan.
- In Part C, you must present the completed business plan to the clients for approval.
- Due week 15
Assessment Matrix
BSBESB401 - Research and develop business plans has three (3) assessment tasks undertaken in the second half of the semester.
Assessment Task 1: Written Questions
This is an open book written assessment.
There are fourteen (14) questions and some questions have sub-parts.
You must answer all questions and their parts correctly to achieve a satisfactory outcome for this task.
- Due week
Assessment Task 2: New business client (project)
This task consists of two parts:
- In Part A, you must prepare to develop a business plan.
- In Part B, you must develop a draft business plan
- Due week 15
Assessment Task 3: Finalise the buisness plan (project and role play)
This task has three (3) parts:
- In Part A, you must develop a business operation plan, including the financials and a marketing plan.
- In Part B, you must develop a contingency plan for areas of the business operations plan.
- In Part C, you must present the completed business plan to the clients for approval.
- Due week 15
Course Overview: Access Course Overview