BSBMGT616 Assessment Tasks

BSBMGT616

Assessment Task: 01

  • Give three examples of risks that should be taken into account in developing and implimenting stratergic plan.

Answer:

  • Competitive factors: the competitive factors are changing constantly and new competitors are entering into the market. Existing competitors launch new products and take aggressive steps such as cuttinh prices. Through adjusting the stratergies and implementation steps to counter the actions this can be mitigated.
  • Demand for the comapny’s product and services may turn out to be lower than what is being assumed it would be. Facing weak economicconditions, one can make decisions and change implementation schedule.
  • Give two examples of risk management stratergies that can be used when developing and implementing stratergic plan.

Answer:

  • Make a risk management plan: every business should have a plan to manage risk. There are some consedring factors that needed to assess and manage risk such as make a list of individual risk, assesment of current controls and plan of action.
  • Analyze each risk carefully and ensure implementing effective stratergies to handle the possible risk.
  • Give example of a risk management stratergy that can be used to manage inteellectual property risks inherent in stratergic plan.

Answer:

  • Intellectual property relates risk posed by competitors tend to get most press attention. Intellectual property assists are belong to competitors who are designing, developing, manufacturing, distributing and selling products or services, poses a potential IP risk to any company. Having efficient stratergy for each asspect can manage the risk.
  • Intellectual property relates risk to may come from government activities, industry regulation etc. To adjust with the regulation risk management stratergy can help to manage risk.
  • Outline the benefit of conducting a SWOT analysis as part of a stratergic planning process and how a SWOT analysis is conducted.

Answer:

  • It is a simple process and it doesn’t need any training skills, only understanding to the nature of company and industry is necessary.
  • This analysis is flexible and enhances the quality of organizations stratergic planning.
  • This analysis allows the marketting manager to integrate and synthesize diverse information.

Conducting SWOT analysis

  • Select an individual to facilitate the SWOT analysis.
  • Brainstrom a company or unit’s strength.
  • Consolidate and clarify ideas by asking the groups which items can be added.
  • Identify and summaries the top strengths.
  • Identify weakness.
  • Identify possible opportunities.
  • Identify threats for the company.
  • Give four examples of questions that could be used when conductiong a SWOT analysis/

Strength

·          What are the unique skills?

·         What experiences do you have?

·         What do you do better than your competitors?

·         What specialized knowledge you have?

Weakness

·         In what area do you need to improve

·         What resources do you lack?

·         What cost you time or movey?

·         What parts of your business is not profitable?

Opportunities

·          What are business goals you are currently working towards?

·         How can you use technology to enhance your business?

·         How can you do more for your existing customer?

·         Are there any new target audiance you have the potential to reach?

Threats

·         What obstacles do you face?

·         What are the strengths of your competitors?

·         What are your competitors are doing that you are not?

·         What’s going on the economy?

  • Outline the benefit of conducting a PESTLE analysis as part of stratergic planning process and how a PESTLE analysis is conducted.

Benifits of PESTLE analysis:

  • This analysis is useful for understanding the big picture of the enviroment in which a company operate.
  • This analysis gives a clear outline of understanding diffrerent enviroments and one may take advantage of the opportunities and minimize the threat.
  • This analysis provides the content within which more detailed [planning can take olace to take full advantage of oppurtunities that prresent themselves.

  

    Conduct PESTLE analysis        

Political

·         Government type and stability

·         Tax policy

·         Changes in political enviroment

Economic

·         Stages of business cycle

·         Impact of globalization

·         Labor cost

Social

·         Population growth rate

·         Education and social mobility

·         Lifestyle choice and attitudes

Technological

·         Research and development

·         Impact of emerging technologies

·         Impact of technology transfer

  • Outline for examples of questions that could be used when conducting a PESTLE analysis.

Answer:

 Factors

Questions to  ask

Political

·         Are there any changes to regulations

·         Has new legislation passed?

·         Are there enviroment issues to be address?

·         What trading policy will impact ypur business?

Economic

·         What is the current domestic economic status?

·         What is the impact inflation, interest rates and other montary policies?

·         Are your consumers having enough confidence on your business?

Social

·         Are there any social attitudes about the project?

·         Are consumer opinions changing about the product?

·         How is the changing population demographics impact the business?

·         Have you experience changes in customer purchasing habits?

Technological

·         How is the new technology affecting the business?

·         Are you dependent on third parties for technological support?

·         Are you stable in competitive technology development?

·         Are you compatible with changing information technology?

Legal Factors

·         Are there any taxation issues that may affect product/service?

·         Can you go through employment laws?

·         Are you concerned about safety laws?

·         Do you know about competition regulations?

  • List two internal sources of information that a business could use to find out about its market, competitors, customer base, vision, values and capabilities.

Answer:

Business internal reports

Business stratergic plans

  • List two external sources of information that a business could use to find out about its market, competitors, customer base, vision, values and capabilities.

Answer:

Business annual reports

Business websites

  • Explain thepurpose o developing organizational values and two techniques that could be used to identify values as part of stratergic planning process.

Answer:

Every organisation has set values because values guide the perspective of the organisation as well as its action.  Organizational value can help to define the organizations’culture and belifs.

  • Brainstroming can be a technique to use which helps to identify a unique value for organization.
  • Techniques to use as part of stratergic planning process are to identify several numbers of values. Represent those collections of values to the top leaders/managers of the organization along with stratergic planning process. After evalution and analyis, the best value can be picked up and established.

Assessment Task- 03

Executive Summary

Native Bush Spices Australia is a company that provides native food products across Australia. It was established in 2001 and has an organic certificate. The aim of this company is to cater demand for Australian food products. Currently it has several product ranges such as native herbs and spices, herbs teas and native fruit jams and conserves.

Vision

We are constantly working to establish ourselves as the most respected and sought after supplier of native bush spices.

Mission

Native Bush Spices Australia is committed to providing the highest quality product to all its clients.

Core Values

Respect: taking time to understand and value each of our customers and respecting their choices.

Responsibility: acting with integrity towards our staff, our customers, the community and the environment.

Caring: a duty of care for our staff, customers and the environment.

Excellence: to always look to provide the best quality product and customer service.

Integrity: to act with honestly, openness and do what we say we will do.

Innovation: to be industry leaders.

Strategic Objectives

Increasing the growth of company through providing quality products and services.

The Market

  1. Market characteristics and conditions

The demand for Australian native foods is exceeding supply and increasing day by day because people are more conscious about their health and life. So in this demanding and growing industry and to cope up with this increasing demand Native Bush Spices Australia has to be more stratergic and strong to operate in this sector. This market has increased due to all the chefs selling and using and all the media are very much attentive about this industry. But there is short of supplier but demand is growing gradually. Market competitors are moderate but increasing.

PESTLE Analysis

Political Analysis:

  • Changes in provisions. There is a possibility in changing provisions regarding the industry or overall industry segments.
  • Regulation and deregulation trend: It is based on terms and performance of the industry sector. For this industry the regulations are easy going because this sector is growing sector.
  • Tax policy, trade and tariff controls: It can be changed due to market and economic conditions.
  • Environmental and consumer protection legislation may have a huge effect on this industry and trends.

Economic Analysis:

  • Inflation and interest rates have big effect while doing business globally.
  • Labour supply and cost may vary time to time.
  • Changes in economic environment possible because of market growth and industry interactions.
  • Increasing price of raw materials can be another issue.
  • Unstable currency.

Social Analysis:

  • Health and social mobility: it depends on the customer choice and intension, satisfaction, demand and supply operation.
  • Corporate social responsibilities can be a positive effec

Technological Analysis:

  • Impact of emerging technologies
  • Impact of internet
  • Social media branding

Legal Analysis:

  • Legal obligations
  • Legal process and procedure for maintain products and services

Environmental Analysis:

  • The products are natural and environment friend

    

Situation Analysis

Strengths

Weakness

·         Well established production conditions

·         Unique products

·         Offer health benefits to customer

·         Emerging economic growth

·         Huge demand for products

·         High production cost

·         Lack of production chemicals

·         Labour intensive industry

·         Lack of harvest techniques

Opportunities

Threats

·         Increasing demands for herbal and organic products

·         Market development opportunities

·         Brand awareness

·         Food labelling and safety issues

·         Lack of quality control and testing protocols

·         Sesonal variability of crops

·         Inadequate infrastructure

Dear Sir,

We informed you about the meeting that we arranged and discussed recently. Now I want to let you know that I have done a research on Australian native food products and its industries. Besides I also completed PESTLE and SWOT analysis. For your kind review and feedback I have attached both files here with necessary documents of our previous meeting.

Waiting for your kind attention.

Regards

Operations Manager

Feedback Email

Thank you for your valuable recommendations. According to your recommended issues I have updated the PESTLE analysis and SWOT that I attached here for your final review. I hope your will accept it and if necessary give me possible suggestions on it.

Kind Regards

Operations Manager

                                                                         

    

Develop Strategic Plan

Actions

The following table identifies the action we plan to take to achieve our strategic objectives.

Actions

Timelines

Responsibility

Key performance

indicator

Include specific actions to achieve strategic objectives

Include month and year

Which staff member is responsible

Include key

performance indicators

Developing product range and categories

Feburary,2018

Marketing Manager

Increase availability of different shaped and categorized products

Research potential market segment for expansion

April,2018

Marketing Manager

Expanding business and increasing market shares

Brand awareness policy and steps

March,2018

Marketing Manager, Operations Manager

Increase branding and reputation

Developing of social media and networking policy

May,2018

IT Manager,

Operations Manager

Cover and increase broad area of customers

Developing sales strategy

Feburary,2018

Marketing Manager,

Operational Manager

Increasing sales and performance

Developing skilled workforce

June,2018

Human Resource Manager

Efficiency in handling factory works and other stuffs

Well trained labour engagement

August,2018

Human Resource Manager

Efficiency in Production and Packaging

Alliance marketing program

May,2018

Marketing Manager,

Operations Manager

Increasing marketing efficiency

Email

Dear Sir,

Based on my reports and findings and research work, I gave developed a strategic plan to take action on some issues. Here i attached the file regarding strategic plan and eagerly requesting you to review the plan and provide me your recommendations. Waiting for you kind attention.                                           

Assessment Task-04

The performance indicators identified in the strategic plan are as follows:

  • A 20% increase in total sales revenue.
  • International market identified and exporting commenced. Sales to international markets to comprise 20% of total income.
  • Suitable alliance for marketing identified and 10% increase in sales attributed to alliance marketing.
  • Identify new products through review of competitors ‘web sites.

Data and comments from staff after 12 months from implementation of the strategic plan show:

  • Sales have increased from $550,000 to $800,000.
  • Product now selling in Hong Kong and Singapore. Total international sales identified as $70,000.
  • No progress on alliance marketing as yet. No suitable partner identified.
  • No ideas for new products.
  1. Develop a report for Management

After passing a year, dealing and implementing with new stratergic plan and action we found that the total sales revenue has increased in 20%. The company commenced its business in international target markets. The sales result received from international market is remarkable is its 20% of total income of the company. The selected alliance for marketing is working sucessfully with high brand awareness and the sales has increase to 10% than before. The company also identified new products from different websites and also identified the competitors’ products.

After 12 months of operation, some staffs have commented on new strategic plan and revealed that sales have increased $5,50,000 to $8,00,000, products are selling in Hong Kong and Singapore, and the total international sales identifies $70,000. But three is no suitable partner can be identified and no progress in alliance marketing. Besides there is no innovation idea for new products.

  1. According to the report it seems that some of our key performance indicators didn’t achieved successfully. The new product development is as same as before although the company listed some competitor’s product but no action is taken in this regard. Another key performance indicator was to develop alliance marketing through partners but it seems that the performance is very poor and not effective. It failed to achieve the target objective.
  2. Recommendations for changing in strategic plan
  • Identify new alliance strategies for development
  • Develop new product design, attributes, packaging, categories and size
  • If alliance doesn’t work properly choose another options for (cooperative ventures)


Best Regards

Operations Manager

                                                                      Feedback Email

Dear Sir,

Thank you for your valuable recommendations. According to your recommended issues I have updated the strategic plan and also attached here for your final review. I hope your will accept it and if necessary give me possible suggestions on it.

Best Regards

Operations Manager

Want latest solution of this assignment

+ Submit Your Assignment Here

AssignmentHippo Features

On Time Delivery

Our motto is deliver assignment on Time. Our Expert writers deliver quality assignments to the students.

Plagiarism Free Work

Get reliable and unique assignments by using our 100% plagiarism-free.

24 X 7 Live Help

Get connected 24*7 with our Live Chat support executives to receive instant solutions for your assignment.

Services For All Subjects

Get Help with all the subjects like: Programming, Accounting, Finance, Engineering, Law and Marketing.

Best Price Guarantee

Get premium service at a pocket-friendly rate at AssignmentHippo

FREE SAMPLE FILE

Client Review

I was struggling so hard to complete my marketing assignment on brand development when I decided to finally reach to the experts of this portal. They certainly deliver perfect consistency and the desired format. The content prepared by the experts of this platform was simply amazing. I definitely owe my grades to them.

Tap to Chat
Get instant assignment help