Bsbmgt617 : Develop And Implement Assessment Answer

As the company is inclining to perform its business in a very profitable manner such that it is aiming to have new targets so as to have more market share and increase sales by 40% which is a huge proposal for the business to take over (Laudon and Laudon, 2016). For such activity a business plan according to the finances and organizational structure the business possess must be there. A plan is necessary for a business to have forecasting of future and to properly deploy the resources which are there with an association. Hence, keeping all the factors in line a business plan is listed below for achieving the new targets of FTC:

Market research

Before targeting any type of market it is necessary for a business to consider all the factors such that risk and other factors associated with it. So, as to have an idea about whether the product will perform in the market or not (Bryson, 2017). Such that in NSW Fast track courier have found that it has to increase its sales in regional areas by capturing market share within 12 months. So, for this analysis regional market research has to be properly done which is the first step in the business plan.

Operations

There are various types of operations which will be affected by a new business plan such as finance, sales, loading, transportation etc. these factors have to be assessed and according to this there has to be new addition with the company in regards to operations. such that the cost of installation of new trucks and minimizing the cost of one driver by installing lodging carriers at the back of a truck which is the proficient way of investing money in proper direction which is suitable for business expansion (Moran and Morner, 2017). For doing all such activities huge amount of money is required which is to be assisted in a proper manner so as to have optimum utilization. Hence, for this, the new trucks can have drivers from the old trucks as there were two in one so one can be employed to the new truck and the cost of lodging that is $10000 can be beard by the company. Bringing in the new trucks will cost $60000 and 10 new trucks have to be brought for the company to have regional routes which are a preferred step for the business development. In this way, the business of the company will be expanded for the regional area which will help in cutting the cost and deploying it in the more usable manner so as to have proper functioning of business (Azhar, Khalfan and Maqsood, 2015). The company will enormously have to manage the finances mainly so as to increase the sales in the areas of NSW so as to have more market share. It is a consequent task for the company but as per the case, study business has an organizational structure where the functions interrelate with each other likewise the business will have a better performance inclined with the target which is to have more market growth with growth in sales as well.

Risk analysis

There are several kinds of risk which has to be analyzed while making the plan for the business. As the failure of business risk, lodging risk, traveling risk, accident risk etc. these have to be determined as per the business FTC is doing so as to have a backup plan for every activity of the business (Dwivedi et al., 2015). In order to have a proper action plan, there has to be the assessment of the risk associated with it so as to have a strategy to deal with consistencies and inconsistencies of business. Permits and licenses for drivers and trucks which will travel throughout NSW have to be obtained which is a long procedure as well as consists risk of allowance by the legal associations.

Choosing best among alternatives

After analyzing the entire factor best solution to the plan is to be chosen as per the business demand and as per the objects which are being set for the business and its performance (Malcolm et al., 2015). This is totally a decision-based factor where business has to make the decision regarding best sources from its market research to implement in business after analyzing risk and other factors associated with it. Implementing the plan in the business to have a proper functioning.

Follow up

This primarily focuses on controlling the business plan so as to have the best outcome and checking upon factors whether they are performing in line or not (Anderson, Anderson and Parker, 2013). According to the analysis, actions can be taken in accordance with the performance of the plan and results associated with it such as sales target achieved etc.

Consult with key stakeholder (assessor) and document the outcomes of the consultation

A business consists of several people who are internally and externally associated with a business. These people are known as stakeholders (Bamford, Moxham, Kauppi and Dehe, 2015). The key stakeholders while making a business plan are the employees and company's shareholder's who have invested their efforts, time and money into a business. As it is regarding the expansion of FTC than these people has to be consulted so as to have a proper consent for what they want to conclude. As responsible association businesses have to make sure that they are inclining to work with their perspective after discussing with stakeholders. Here, primary funding of the plan will be done through the business capital as the huge amount is required so a company must inform and take consent of people who are associated with it as the main investors (Barry 2016). The outcome of the consultation of this plan with stakeholders was clear and much focused as they were interested in investing money so as to have more expansion of business with promising returns. The result of the interview of this arrangement with partners was clear and much engaged as they were keen on contributing cash in order to have more development of business with promising returns (Battistoni, Bonacelli, Colladon and Schiraldi, 2013). As the business has demonstrated a development in its past business it they have confidence that it will, therefore, become over with time. An endorsement to the point of extending business in a provincial zone is given by the general population in the primary business working. As the business has shown a growth in its previous business it they have faith that it will consequently grow over with time. An approval of the aim of expanding business in the regional area is given by the people in the main business functioning.

Communication plan

As the company is already following a communication channel through which it is informing its employees regarding the new plans and procedures of the organization and it is mostly through brochures and the e-mails (Bianchi and Åhlström, 2014). But further, for the new business plan, it can have better strategies which can be according to the requirement of the stakeholders. For example, employees should be told about the plans they have to work upon, customers about the new product launch and the stakeholders about the financial deployment of resources. Hence, in this way, the communication must proceed with various sections of the organizations so as to make sure everyone has the right amount of information to proceed with the formulated plan. In a similar way a communication plan is listed below:

Collect data

There are so many data which are there regarding the formulated plan in the organization which has to be collected first by the company (Bouchery, Corbett, Fransoo and Tan, 2016). This data must be gathered so as to have a proper knowledge.

Formulate information

The information analysis through the data which has to be given to various sections of the organization must be done to achieve the various informational targets (Brown, Bessant and Lamming, 2013). This way it will become easy for everyone to understand as they will be given information related to their work.

Divide it according to requirements

Dividing according to requirement means top level, middle level and operational level management information where people have to make sure that right information is given to the right person (Brown, Blackmon, Cousins and Maylor, 2013). This will help in having a communication of data properly.

Delegate using channels

There are several methods of delivering the data and information. Communication channels such as face to face, e-mails, phone etc. should be chosen to give information about the plans and procedures of the company.

Follow up

Checking up whether the communication plan is working properly or not whether people are doing right work and there is the proper directional action for each activity of FTC.

Part B

Analyzing the strengths and weaknesses of the business plan

The proposed business plan is associated with the business requirement which is necessary for FTC. Hence, there are several measurements of success factors which are associated with its success and further description about if it will work or not. There are always two sides of a coin and these coins have to be assessed properly in order to reach out to a conclusion of obtaining better results from the inclined operations for raining the sales by 40% of FTC which is important for the business to expand in the regional area. This section of business is important as it plays a very significant role in making proper directional outreach for the business objective which is being proposed (Goetsch and Davis, 2014). Hence there will definitely be the improvement in the quality and quantity aspects of the services. A range of profit slab will be raiding from 17 million to 22 million which is only because of the new operations which business plan is proposing for FTC operations. This will have positive variances on the activities of business as it has various departments working under its functionaries and it is important. Similarly to have a proper study as to business and its functions there must be the analysis of strengths and weaknesses. After going through the case study it has been propounded that the business is having very good services in NSW which shows out the quality status of the business it is doing. It is the most preferred courier firm in NSW by most of the people who are wishing to send good on metropolitan areas of Sydney.

 

Strengths · It will help the business to grow and expand in regional areas of NSW which is important for it for long-term sustainability and growth. · The result of the plan is very specific and inclined to increase the overall growth of business with the increase in sales of 40% which is a strength. · Functioning of the plan is so smooth and clear that it has a proper framework upon which everything will be preceded. For example the structure, resources and so on. · The research is so proper that there is the least chance of any type of default or further mechanism (Habib, 2014).

Weaknesses · The risk associated with the business is high so there might be an acquisition of license risk for driving and traveling (Gupta and Starr, 2014). · The plan may have some inconsistent problems which are difficult to predict. · The price range of installation of new trucks and other things is high which might be difficult to ascertain all at a single point in time. · The estimated sales of services might not have all fortune chances of success which is also a weakness for the plan.