Develop and implement strategic plan (BSBMGT616)
Assessment 1
- Give three examples of risks that should be considered in developing and implementing strategic plans.
Following are the three examples of risks that should be considered in developing and implementing the strategic plans:
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Economic Uncertainty: The slump in economy may require to alter the implementation schedule. Demand of the product and services of the company may get lower than what it is assumed.
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Competitive Factors: Small businesses faces changes due to competitive landscape. New competitor enters the market. New products and services are launched by the existing competitors.
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Loss of Key Supplier or Distributor: For the key components of the product, some small businesses depend on few suppliers. One can also depend on the ley distributor.
Source: https://smallbusiness.chron.com/risks-may-affect-implementation-business-strategies-66796.html
- Give two examples of risk management strategies that can be used when developing and implementing strategic plans.
- For ensuring the organization’s revenue and expenditure, budgetary control measures are prepared.
- For ensuring that staff is at higher level, staff training development is must.
- For the improvement of the organizational practices, there should be ongoing communication mechanism.
- Give an example of a risk management strategy that can be used to manage intellectual property risks inherent in strategic planning.
- Preparation of non-disclosure intellectual property.
- To keep the track of development and protection cost, develop a strategy
- Development of intellectual property strategy
- Development of infringement strategy of IP.
Source: http://tolmanandwiker.com/7-ways-reduce-intellectual-property-risk/
- Outline the benefit of conducting a SWOT analysis as part of a strategic planning process and how a SWOT analysis is conducted.
Following are the benefits of conducting a SWOT analysis as a part of a strategic planning process:
- It provides information for strategic planning.
- Helps in building strength of the organization.
- Weaknesses are reversed
- Minimizes the opportunities.
- Overcoming the threats.
- Help in identification of the competencies.
- Helps in setting of the objectives.
- Outline four examples of questions that could be used when conducting a SWOT analysis.
Following are the four examples of questions that can be used when SWOT analysis is being conducted:
- Strengths: What do we do best? What unique knowledge, talent, or resources do we have?
- Weaknesses: What could we improve?
- Opportunities: How can we turn our strengths into opportunities?
- Threats: What obstacles do we face?
- Outline the benefit of conducting a PESTLE analysis as part of a strategic planning process and how a PESTLE analysis is conducted.
Following are the benefits of conducting a PESTLE analysis as the part of strategic process:
- Framework is simple.
- Facilitates an understanding of the environment of the business.
- Development of external strategies are encouraged
- Organization is enabled to spot the opportunities of the business.
Source: https://www.cipd.co.uk/knowledge/strategy/organisational-development/pestle-analysis-factsheet#gref
Following is the way in which PESTLE Analysis is being conducted
PESTEL analysis is strategy analysis tool.
It encourages the firm to bring in focus the external environment in which a firm is operating.
PESTEL analysis can provide firms with forward-looking perspectives. This is helpful in providing the warning of threats and opportunities in advance.
Source: https://strategiccoffee.chriscfox.com/2012/10/how-to-do-pest-analysis.html
- Outline four examples of questions that could be used when conducting a PESTLE analysis.
Following are the four examples of questions that could be used when conducting a PESTLE analysis.
- Political
- What government policies can affect the organization?
- What changes can be bring in government policy at regional, national and European level?
- How these changes can affect the organization?
- Economic
- Are there any economic trends
- How volatile is the national, European or global economy?
- Social
- What affects the people’s attitude?
- What implications are there due to demographic change?
- Technological
- What technology can have the implication on the organization?
- Does there be impact on political or economic events due to change in technology.
Source: https://www.open.edu/openlearn/ocw/mod/oucontent/view.php?id=64017§ion=3.1
- List two internal sources of information that a business could use to find out about its market, competitors, customer base, vision, values and capabilities.
Following are the two internal sources of information that a business could use to find out about its market, competitors, customer base, vision, values and capabilities.
- Customer survey and
- Sales report
- List two external sources of information that a business could use to find out about its market, competitors, customer base, vision, values and capabilities.
Following are the two external sources of information that a business could use to find out about its market, competitors, customer base, vision, values and capabilities.
- Journals
- Government Documents
- Explain the purpose of developing organisational values and two techniques that could be used to identify values as part of the strategic planning process.
The aim of developing organizational values explain the principles which the company may abide.
For identifying the values, there are two techniques.
1) Assessing the Current Culture of the organization.
2) Reviewing the Strategic Business Plan
Source: https://www.cornerstoneondemand.com/resources/blogs/6-steps-defining-your-organizational-values/
Assessment 2
- Prepare for meeting with team. Carefully read the scenario information, including the information about the organisational mission, vision and values and business objectives.
Conduct research about developing mission, vision and value statements, as well as formulating strategic objectives. Identify some examples of these statements/objectives from at least two other companies. Compare the vision, mission and value statements to those of Native Bush Spices Australia. Make notes about whether you think the existing mission, vision and value statements are clear enough to guide operations. You will need to share your thoughts at the meeting with the management team, as well as listen to the management team’s ideas.
You should also make notes about the key business strategies and research best practice techniques for formulating strategic objectives.
I am taking two companies those are Native Bush Australia and Ontario Natural Food company on whom I will conduct the research. The details of the company I am mentioning below and also I had made the comparison among both the companies.
Strategic Plan
Native Bush Australia
Executive Summary
Native Bush Spices Australia is based in Coffs Harbour, NSW. It was established in 2010 for catering the demand for the food products in the Australia. Australian native food includes: Native herbs and spices
- Native herbal teas
- Native fruit jams and conserves
Vision
We are working for establishing as the respected supplier of native bush spices.
Mission
It is committed by the Native Brush spices for providing the product of highest quality to all the clients.
Our values are:
Respect: respecting the choice of the customers and taking time to understand and value each customers.
Responsibility: acting with integrity towards our staff, our customers
Caring: a duty of care for staff
Excellence: always providing the best quality product.
Integrity: to act with honesty.
Innovation: to be industry leaders.
Strategic Objectives
Following are the strategic objective of the Native Bush Australia
- To lead the herb and spices market within the next 5 years
- To increase the number of customers
- Investigate new species to add (10% of budget)
- Develop systems that support value chain integrity (25% of budget)
Mission
Brining to the market natural and organic food products.
Vision
Living in a sustainable world from seed to plate.
Values
Ethical Business Practices
Maintence of high standard to deal with the employees, customers and the suppliers.
Corporate Values
Self-help, self-responsibility, democracy, equality, solidarity, honesty, openness, social responsibility, caring for others.
Quality
Product selection criteria which provide wide variety of organic and natural food.
Education
Encouraging the choices for the impact on the personal health.
Innovation
Identifying and adapting the environmental, social and economic changes.
Financial responsibility
Cultivating the corporate activities in financially sustainable manner.
- Meet with the management team (your assessor)
The management team is meeting to discuss the organisational vision, mission and values statements, as well as business objectives.
Share the ideas you researched for activity 1 and listen to the ideas provided by the team. In addition, discuss your ideas about key business strategies and strategic objectives.
Listen to the ideas presented about actions to achieve strategic objectives, as well as
performance indicators.
During the meeting, demonstrate effective communication skills including:
- Speaking clearly and concisely
- Using non-verbal communication to assist with understanding
- Asking questions to identify required information
- Responding to questions as required
- Using active listening techniques to confirm understanding
Strategic Plan
Native Bush Australia
Executive Summary
Native Bush Spices Australia is based in Coffs Harbour, NSW. It was established in 2010 for catering the demand for the food products in the Australia. Australian native food includes: Native herbs and spices
- Native herbal teas
- Native fruit jams and conserves
Vision
We are working for establishing as the respected supplier of native bush spices.
Mission
It is committed by the Native Brush spices for providing the product of highest quality to all the clients.
Our values are:
Respect: respecting the choice of the customers and taking time to understand and value each customers.
Responsibility: acting with integrity towards our staff, our customers
Caring: a duty of care for staff
Excellence: always providing the best quality product.
Integrity: to act with honesty.
Innovation: to be industry leaders.
Strategic Objectives
Following are the strategic objective of the Native Bush Australia
- To lead the herb and spices market within the next 5 years
- To increase the number of customers
- Investigate new species to add (10% of budget)
- Develop systems that support value chain integrity (25% of budget)
Mission
Brining to the market natural and organic food products.
Vision
Living in a sustainable world from seed to plate.
Values
Ethical Business Practices
Maintence of high standard to deal with the employees, customers and the suppliers.
Corporate Values
Self-help, self-responsibility, democracy, equality, solidarity, honesty, openness, social responsibility, caring for others.
Quality
Product selection criteria which provide wide variety of organic and natural food.
Education
Encouraging the choices for the impact on the personal health.
Innovation
Identifying and adapting the environmental, social and economic changes.
Financial responsibility
Cultivating the corporate activities in financially sustainable manner.
- Write a summary of the meeting outcomes.
Following the meeting, summarise the meeting outcomes in about half a page.
The Strategic objectives can be separated into three stages:
Definition of strategic objectives:
- It defines the way to think of mission of the organization.
- Setting the targets for accomplishment of the goals of the organization.
Strategic arranging:
- Formulation of different methodologies and choosing the one that will be helpful in accomplishment of the goals of the organization.
- For accomplishing the techniques, hierarchical design is developed.
Strategic Implementation:
- Make sure that the important exercise are there for gurrenting the procedure.
- Utility of the procedure should be controlled for accomplishment of the goals of the organization.
- Send an email to the Management Team (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
The email text should confirm the organizational vision, mission and values as discussed at the meeting.
You should also report on the cooperative venture as discussed at the meeting.
It should also request approval to proceed to developing the strategic plan based on the agreed vision, mission and values, as well as strategic objectives.
To: Management team
From:
Subject: Organization Meeting
Dear Management Team,
I’m writing this letter to conclude about the meeting which was conducted. In the meeting we discussed the mission, vision and upsides of the Natural Bush Spices Australia. We are looking for the goals, vision and mission of the organization
Thank you,
Regards,
Assessment 3
- Research Native Bush Spice Australia’s customers and competitors.
Identify sources of information to use to research Native Bush Spice Australia’s market, competitors and target customers.
Note down at least 3 sources of information. You will need to record these information sources in your SWOT and PESTLE analysis.
Using the information that you have developed, research trends and development in the industry and competitors, potential new and emerging markets, competitors and any other relevant factors.
Few sources of data to use to investigate local bramble flavor Australia market, contenders are
- official records
- google search
- marketing records and reports
- Research and review potential cooperative ventures as discussed at the meeting. This should include their risks and benefits.
Spice and company is picked up as potential agreeable endeavor and it was set up in 2009 by Stacey casford & Milk Tafe.
Benefits
- The organization has expertise in flavor.
- The organization helps in attracting new customers.
Risks:
- Item can get overshadowed
- There are chances of conflicts among the employees.
- There can be comparison among the items.
- Develop a SWOT and a PESTLE analysis
These should outline all the internal and external factors that will impact on the Strategic Plan based on your research.
Begin a new Word document for the analyses. Save it as SWOT and PESTLE Analysis.
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Strengths
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Weakness
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Opportunities
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Threats
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Political (P) |
Economic ( E) |
Social (S) |
Technologica (T) |
Legal (L) |
Environmental ( E) |
opportunity)
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- Send an email to your assessor.
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should summarise the contents of the attachments and seek their feedback on them.
Attach your SWOT and PESTLE analysis to the email.
Your assessor will review your analysis and provide feedback as required.
To: Assessor,
From:
Subject: Attachment of SWOT and PESTLE Analysis
Dear Assessor,
I want to inform that I have prepared the SWOT and PESTLE analysis on the basis of information that I was provided with. I have also attached the SWOT and PESTLE Analysis with the mail. Kindly go through both the analysis and let me know if any changes are to be made.
Thank you
Regards
- Update your PESTLE and SWOT analysis
Revise these to reflect with any feedback provided by your assessor. Save this document as Updated Analysis.
Updated Analysis
SWOT ANALYSIS
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Strengths
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Weakness
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Opportunities
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Threats
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PESTLE ANALYSIS
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Political (P) |
Economic ( E) |
Social (S) |
Technologica (T) |
Legal (L) |
Environmental ( E) |
opportunity)
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- Develop the Strategic Plan.
Once you have received feedback from your assessor, proceed with developing the Strategic Plan. Using the template provided by your assessor.
You will need to make sure you complete all sections of the Plan and use clear and concise English.
Your strategic plan will need to include specific actions to include each of the strategic objectives.
You must include responsibilities and timelines for each action, as well as key performance indicators.
Each of the actions should be ordered commencing with the most urgent action first.
Strategic Plan
Native Bush Australia
Executive Summary
Native Bush Spices Australia is based in Coffs Harbour, NSW. It was established in 2010 for catering the demand for the food products in the Australia. Australian native food includes: Native herbs and spices
- Native herbal teas
- Native fruit jams and conserves
Vision
We are working for establishing as the respected supplier of native bush spices.
Mission
It is committed by the Native Brush spices for providing the product of highest quality to all the clients.
Our values are:
Respect: respecting the choice of the customers and taking time to understand and value each customers.
Responsibility: acting with integrity towards our staff, our customers
Caring: a duty of care for staff
Excellence: always providing the best quality product.
Integrity: to act with honesty.
Innovation: to be industry leaders.
Strategic Objectives
Following are the strategic objective of the Native Bush Australia
- To lead the herb and spices market within the next 5 years
- To increase the number of customers
- Investigate new species to add (10% of budget)
- Develop systems that support value chain integrity (25% of budget)
The Market
The company manufactures and retails a range of organic, Australian native foods including:
- Native herbs and spices
- Native herbal teas
- Native fruit jams and conserves
Market characteristics & conditions
World’s largest area is in Australia. The industry has grown around US$ 97 billion. USA, Europe and China are the leaders for exporting the organic products that are produced in Australia.
Situation Analysis
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Strengths
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Weakness
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Opportunities
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Threats
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Actions
The following table identifies the actions we plan to take to achieve our strategic objectives.
Actions |
Timelines |
Responsibility |
Key performance indicator |
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With the help of social media and internet, Promoting the company |
1 month, once a month is over then stop the promotion |
Marketing Team |
Sales has been increased by 15% |
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Researching new ingredients and products |
November 6, 2021 |
Research and Strategic Team |
There is an increase in 10% production |
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Contacting new potential customers |
November 4, 2021 |
CEO |
There is an increase in 20% distribution |
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Distributing the free samples at supermarkets and the events |
November 1, 2021 |
Marketing Manager |
There is an increase in new consumers by 17% |
- Send an email to your assessor.
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
In your email, provide a brief overview of the actions that need to be taken over the next 12 months to achieve objectives, as well as the staff that will be involved.
The email text should summarise the contents of the attachment and seek their feedback. Attach your strategic plan to the email.
To: Assessor,
From:
Subject: Attachment of the strategic plan,
Dear Assessor,
This mail is written to inform that strategic plan have been prepared for the Native Bush Australia company. Following topics have been included in the plan: Executive summary
- Vision
- Mission
- Our Values are
- Strategic objectives
- The Market
- SWOT Analysis
- Actions.
Kindly go through the plan once and share the views.
Thank you
Regards,
- Update your strategic plan
Revise your strategic plan, incorporating any feedback that you received from your assessor.
Save this document as Updated Strategic Plan.
Strategic Plan
Native Bush Australia
Executive Summary
Native Bush Spices Australia is based in Coffs Harbour, NSW. It was established in 2010 for catering the demand for the food products in the Australia. Australian native food includes: Native herbs and spices
- Native herbal teas
- Native fruit jams and conserves
Vision
We are working for establishing as the respected supplier of native bush spices.
Mission
It is committed by the Native Brush spices for providing the product of highest quality to all the clients.
Our values are:
Respect: respecting the choice of the customers and taking time to understand and value each customers.
Responsibility: acting with integrity towards our staff, our customers
Caring: a duty of care for staff
Excellence: always providing the best quality product.
Integrity: to act with honesty.
Innovation: to be industry leaders.
Strategic Objectives
Following are the strategic objective of the Native Bush Australia
- To lead the herb and spices market within the next 5 years
- To increase the number of customers
- Investigate new species to add (10% of budget)
- Develop systems that support value chain integrity (25% of budget)
The Market
The company manufactures and retails a range of organic, Australian native foods including:
- Native herbs and spices
- Native herbal teas
- Native fruit jams and conserves
Market characteristics & conditions
World’s largest area is in Australia. The industry has grown around US$ 97 billion. USA, Europe and China are the leaders for exporting the organic products that are produced in Australia.
Situation Analysis
|
Strengths
|
Weakness
|
|
Opportunities
|
Threats
|
Actions
The following table identifies the actions we plan to take to achieve our strategic objectives.
Actions |
Timelines |
Responsibility |
Key performance indicator |
|
With the help of social media and internet, Promoting the company |
1 month, once a month is over then stop the promotion |
Marketing Team |
Sales has been increased by 15% |
|
Researching new ingredients and products |
November 6, 2021 |
Research and Strategic Team |
There is an increase in 10% production |
|
Contacting new potential customers |
November 4, 2021 |
CEO |
There is an increase in 20% distribution |
|
Distributing the free samples at supermarkets and the events |
November 1, 2021 |
Marketing Manager |
There is an increase in new consumers by 17% |
- Send an email to your assessor.
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
In your email, provide a brief overview of the changes that you made to your PESTLE and SWOT analysis and to your strategic plan.
Attach your Updated Analysis and your Updated Strategic Plan to the email.
To: Assessor,
From:
Subject: Updated the Analysis and the Strategic Plan.
Dear Assessor,
This letter is written with the purpose that analysis and strategic planning have been prepared and I have attached the document with the mail. Kindly share your views.
Thank you,
Regards,
Assessment 4
- Write a report for management. The report should address:
- Analyse and report on the data provided.
- Comment on whether performance indicators have been achieved.
- Develop recommendations for the year ahead based on your evaluation as above, as well as required changes to the strategic plan.
- As you have also been asked to evaluate the strategic planning process, research best practice strategic planning processes and report on whether the organisation achieved this with the first strategic plan development and what could be improved.
Native Bush Spices Australia
Management report
Comparison between performance indicators and actual performance
Total revenue of the year is $ 8, 00,000. There is increase in 45.-45% increase as compared to the previous year which was around$ 5, 50,000. And there is increase in sales of 20%.
Sales in foreign market did not meet the expectations. There is fail in the establishment of the alliance market.
Recommendations for the ahead year
- For gaining the rate of sale growth, efforts should be continued. In foreign market, more efforts are needed to be made.
- Research should be conducted and there is a need of finding the needs of the customers and suitable products needed to be made.
- Market alliances should be established in foreign market.
- On both domestic as well as international market, the new product can be launched.
Suggestions
- Research in Marketing trends
- Focus in building the international alliances
- Releasing the 4 new products in the next year
- To grow 20% in the international marketing
- To grow 15% in the Australian marketing
- Send an email to the Management Team (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should introduce and summarise the contents of the attachment. Attach your report to the email.
To: Management Team
From:
Subject: Attaching the report,
Dear Management Team,
I am writing this letter to inform that management report has been prepared. Following are the topics that I have included in the report:
- Comparsion between performance indicators and actual performance
- Recommendations for the ahead year
- Suggestions
Kindly go through the report once and share the views.
Thank you,
Regards,