Course Title: Develop and implement a business plan

Part B: Course Detail

Teaching Period: Term2 2021

Course Code: BUSM7924C

Course Title: Develop and implement a business plan

School: 650T Vocational Business Education

Campus: City Campus

Program: C6169 - Advanced Diploma of Business (Public Relations)

Course Contact: Nick Reynolds

Course Contact Phone: +61 3 9925 0791

Course Contact Email: nick.reynolds@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Joe Matthews

joseph.matthews@rmit.edu.au 

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 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.

Business plans are critical tools for business growth and development. They will vary depending on the needs of the organisation. This unit covers the typical elements of a business plan and the standard approaches to be used in implementing a business plan.

The business plan should be supported by a strategic plan, and may also be supported by a marketing plan and cash flow forecasts.

In this course you will acquire the skills and knowledge required to:

  • Develop a business plan
  • Monitor performance
  • Respond to performance data


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


On successful completion of this course you will have developed and applied the skills and knowledge required to demonstrate competency in the performance outcomes, skills and knowledge required to run a business operation and cover steps required to develop and implement a business plan.


Details of Learning Activities

This course is structures to provide you with the optimum learning experience. A range of learning activities are provided during the semester and are designed to enhance learning and understanding of the topics.

You will participate in a combination of group and individual learning activities. These activities will be provided through classroom work time and additional learning activities will be provided to you to complete outside of the scheduled class time.

A range of in class activities, case studies and independent research is included as the learning activities for this course. We expect you to participate and contribute in all scheduled learning activities.

The learning activities will also include group discussion, group problem solving activities and opportunities to practice your skills in a simulated workplace environment.


Teaching Schedule

Weekly Schedule 

BUSM7924C    Develop and implement a business plan

Semester 2 2021

Week number 

Week beginning 

Topic 

Assessments 

O-Week

5th July

Introduction

·         Teacher, student introductions

·         Assessments and Feedback

·         Course overview

·         Assessment Tasks

·         Groups

·         Workshop

Brief all assessments and assessment overview 

2

12th July

Business Profile/ Introduction to Business Plan  


3

19th July 

Understanding the business  

  

4

26th July

Assignment 1 workshop  

(Business Proposal) 

Assignment 1  

Business Proposal due: Sun 11.59pm 

5

2nd August

Industry Analysis  


6

9th August

Market Analysis  


7

16th August

Competitive Analysis  


8

23rd August

Marketing plans  


Mid Semester Break 30th August - 5th September

9

6th September

Assignment 2 workshop  

Assignment 2 due: Sun 11.59pm 

10

13th September

Operating Plan: Production   


11

20th September

Operating Plan: Purchasing Plan  


12

27th September

The Management Plan  

  

13

4th October

Financial Plan  


14

11th October

Implement, monitor and measure performance    


15

18th October

Assignment 3 workshop  

Assignment 3 due: Sun 11.59pm 

16

25th October

Resubmissions


17

1st November

Grade Entry


Learning Resources

Prescribed Texts


References


Other Resources

All resources will be available on Canvas


Overview of Assessment

Assessment Methods

A range of assessment methods will be used to assess practical skills and knowledge. The following assessment methods will be used specifically to assess competency in developing a business plan:

  • Project management
  • Written reports supported by practical assignments or tasks for individual assessment
  • Observation of workplace practice supported by personal interviews
  • Knowledge tests
  • Practical display with personal interview, presentations or documentation
  • Case studies
  • Real situations
  • Interaction with others.

You will be assessed on the criteria below:

Performance Evidence

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, you must:

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

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the management and leadership field of work and include access to:

  • appropriate documentation and resources normally used in the workplace
  • strategic, business and operational plans
  • business information and data
  • interaction with others.

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. You will be provided with feedback throughout the course to check your progress.

Feedback

Feedback will be provided throughout the semester in class and/or with 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. 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 1 Task -  Business plan development 

Date and time due         : Week #4 

Purpose: Completing this project allows students to demonstrate their ability to run a business operation and covers the steps required to develop and implement a business plan.

Requirements:  Students are required to submit a written business proposal (using the template supplied) which will be an overview of a business idea.  The business idea could be something students have worked on in other classes, or be a new activity, department or similar within an existing business.  The idea must be: 

  • Able to be implemented, monitored and reviewed by the end of this study unit.  Only one aspect of the plan needs to be implemented, monitored and reviewed. 
  • Viable with regards to the cost, timelines and other resources for that one aspect being implemented.  

The proposal will indicate the feasibility of the idea, the potential income streams, business objectives, structure and licensing requirements, initial set-up cost, the market available and the financial viability.   

Students will need to complete each activity as indicated in the criteria in the Marking Guide at Section B of this assessment.  The activities build on the information gathered in previous activities, so it suggested that they complete all of the activities and then write their business plan.  

Students’ business must be professionally presented using different information presentation methods and breakdowns of information to communicate with stakeholders effectively.  

Students will need to work with the business, or a peer playing the role of someone connected to the business, in order to answer questions, generate information and ideas and get feedback.   

The rest of the business plan needs to be researched and decisions made through analysis of quality information sources.  

Students will implement their plan in Assessment Task 2 and evaluate the idea outcomes in Assessment Task 3.  


Assessment 2 Task - Business plan implementation

Date and time due:        Week #9

Purpose: Completing this project allows students to demonstrate their ability to run a business operation and covers the steps required to develop and implement a business plan.

Requirements: This task follows on from Assessment Task 1.   

Students must now implement their accepted business plan by communicating the requirements to stakeholders, planning for labour, undertaking performance management using appropriate systems and reporting on the outcomes.  

Students will need to address the criteria in the Marking Guide at Section B of this assessment.  Students should use this to plan and carry out all activities and identify what needs to be recorded, collated and submitted to the assessor for review.  


Assessment 3 Task - Business plan report

Date and time due:        Week #15            

Purpose: Completing this project allows students to demonstrate their ability to run a business operation and covers the steps required to develop and implement a business plan.

Requirements: 

This task follows on from Assessment Tasks 1 and 2.  

Students must collate a portfolio of evidence to address the criteria in the Marking Guide at Section B of this assessment.  

Students will need to continue to implement and embed their business plan within their business context and track their progress against the plans as they do so. Student will use this information to: 

  • Undertake different types of monitoring activities
  • Improve the performance of the human resources and stakeholders involved in the activity
  • Identify ways to improving, and undertaking the improvement, of the plans, schedules, communications and other aspects of the business plan. 
  • Analyse your own performance in business planning and implementation to identify ways to improve performance in the future.  

Students will need to collect, analyse and interpret a range of information and make assumptions, where necessary, to complete these tasks.  Where assumptions are necessary, they must indicate this in their findings.  

Students are to collate their collected documents into a single PDF for submission, using labelling to indicate where each criteria is addressed.  


Assessment Matrix

The assessment matrix that maps all the assessment is available on CANVAS.
Submission Requirements

You should:

  • Ensure that you submit assessments on or before the due date.  Non submission without supporting evidence such as ELP or special consideration will mean a result of Did Not Submit (DNS) 
  • Always retain a copy of your assessment tasks. (hard copy and soft copy)
  • When you submit work for assessment at RMIT University you need to use the Assessment task document that includes a declaration and statement of authorship.
  • Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. 

Other Information

Late Submission Procedures 
You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.  If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More Information:  https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work
Where an extension of greater than seven days is needed, you must apply for Special Consideration.  Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.
More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration
Resubmissions:
If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission.  Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.  
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
Re-submissions
Successful re-submissions will contribute a CA only (Competency Achieved) result to your overall grade for the course.
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:  https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/adjustments-to-assessment
Marking Guide (Competency): 
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you about your progress and how well you are performing. 

Final Grades table:


CA Competency Achieved  NYC Not Yet Competent DNS Did Not Submit for assessment
Further information regarding the application of the grading criteria will be provided by your teacher

Course Overview: Access Course Overview