BSBMGT616 - Develop and Implement Strategic Plans Assignment -

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Assessment Task 1 -

QUESTION 2 - What is the purpose of a SWOT analysis in a strategic planning process?

Answer - Purpose of the SWOT analysis is a strategic planning process

The purpose of the SWOT analysis is a strategic planning process.

Strengths - A list of the company strengths can be used as an opportunity and can also help to examine how there can be an internal strength (Lidstone, 2017). it can be such as solid financing, modern equipment, valuable intellectual property, etc.

Weakness - It would be an unreliable supplier, outdated equipment and/or machinery, lack of finance, which the company can make it as a key strength during its strategic planning.

Threats - Threats are also the external obstacles, which the business has to overcome. It can also be a threat which is supposed to be a declining economy, a consumer shift to the other technologies, etc.

Opportunities - Opportunities are the external factors which would make the business to grow and to also made it a profitable venture (Kotler, 2017). It can be due to the government support, new potential markets, innovation and the technological advances which can make it would business partners, etc.

QUESTION 3 - Discuss each component of a SWOT analysis.

Answer - Each component of the SWOT analysis

Strength - Strength focus on the internal strength which can make it an important part of the strategic planning process.

Weakness - The limitations and the inability to meet the company procedures that would help the company to focus and overcome it.

Threats - 'the threats would be in the form of the external obstacles and it would be a company ability or strength to focus on the threats.

Opportunities - It can be external factors that can make the business allow to grow and make it profitable and it would be a close step to analyze the competitor's weakness (Jarach, 2017).

QUESTION 4 - What is the purpose of a PESTLE analysis in a strategic planning process?

Answer - Purpose of the PESTLE analysis

The purpose of the PESTLE analysis is to use the various macro-environmental analysis which can make it as an impact of an organization.

The political analysis would analyze the government intervenes in the economy. It would consider the government policy and the related to political stability along with the instability factors.

The economics analysis relates to the organization impact factors such as economic growth, interest rates, and the various economics turbulence factors.

Social factors include the belief and the attitudes which would be examined on the relation of the population.

Technological factors would include the new way of producing, distributing and also communicating with the target markets.

Environmental factors would be attributed to factors such as the scarcity of the raw materials, pollution, and other related factors (Jarach, 2015).

Legal factors health and the safety regulations along with grabbing the advertisement standards etc.

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QUESTION 5 - List four examples of questions you may ask when conducting a PESTLE analysis?

Answer - List four examples which you may ask when conducting PESTLE analysis

The four examples would be launching a new innovative product.

Targeting a new market in a new demographic area.

Understanding the customer key preferences, taste, and demand.

Relation of the global turbulence with the chosen economy.

QUESTION 6 - Discuss three risks that should be taken into account in implementing strategic plans.

Answer - Three risks which would be taken in association with the implementation of the strategic plans

Financial Risk - The financial risk such as the burdening of the high costs and also have to bear the sunk costs, irrelevant costs or the various opportunities costs can lead to the high-risk factors.

Economic risk - The economy in which the company is operating can face economic turbulence such as the high inflation or the high costs, which can lead to the company loss.

Getting diverted from the routed plans - If the internal plans are not in sync with the external plans, then the charted plans can lead to the diverted route for the company (Chernev, 2015).

QUESTION 7 - Discuss why it is important for a business to protect its intellectual property.

Answer - Business to protect intellectual property

The business needs to protect its intellectual property as it would help to protect the innovation, products formation, copyright protection due to the branding, technology insight due to which the customers, important stakeholders remains important. It protects the identity and also makes a mark as on the customers, stakeholders, etc.

QUESTION 8 - Discuss three strategies a business can implement to protect their intellectual property such as that documented in strategic plans.

Answer - Three strategies a business can implement to protect their intellectual property such as that documented in strategic plans.

Registering and patenting their technology, product or copyright licensing.

Branding their product by labeling and setting within the standardized format.

Cost leadership to protect and diversify it (Chernev, 2015).

The organization would take the legislative and the regulations which would be relevant to the code of the practices taken not the consideration during the strategic planning process, as it is important to adhere per the code of ethics, standardized practices and also the regulation. It would also be important to abide per the country legislation practices and also be able to progress in the set standards, as any breaches or non-adherence would lead to penalties, fines and the violation of the code of the laws.

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Assessment Task 2 - Organisational vision and mission project

Q2. Conduct relevant research and complete the following: Review Native Bush Spices Australia's mission, vision and value statements and compare them with other companies with the intention of deciding whether they are clear enough to guide operations. If they are not clear, you may revise them. You will need to share your thoughts and gain support for these statements at the meeting with the management team as well as listen to their ideas.

Answer - It is compared with the Coles Supermarket vision, mission, and values.

The mission is accurate, however, the Native Bush can mention, the highest quality products to its valued customers and stakeholders (Chernev, 2015).

Vision-: It should be revised to where they do see after a certain period. it should be revised to this-:

To be an established firm globally and make a mark as a supplier of the Native Bush.

The values are accurate.

b. Review the business's long term objectives given in the scenario and commence formulating strategic goals, strategies and performance indicators for the short term (one year). You should research and make notes about best practice techniques for formulating strategic goals and strategies and performance indicators.

Answer - Short term (1) year.

Goals - The goal is to capture the Australian Canberra region and to be the number one seller there.

Strategies - To provide exclusive discounts, capturing customer base and also making plans.

Performance indicators - The performance indicators such as the high profits, revenues, and the sales growths are forecasted (Chernev, 2015).

c. Research legislative, regulatory Codes of Practice requirements including intellectual property related to Native Bush Spices Australia's business objectives and make note of them.

Answer - Research Legislative the company has to bear the competition of the Coles and the Woolworth and as per the Australian regulation, cannot form a cartel or the joint entry with the leading companies to create a monopoly market or duopoly.

Codes of the Practice requirements Including the intellectual property.

It has to set its unique own trademarks, copyrights and cannot operate based on the other brand's identity. It has formed its code of practices which would adhere to the external environment and also to the set intellectual property (Cunningham, 2019).

d. Research co-operative ventures and collate a list of pros and cons for consideration by the management team.

Answer - Cooperative ventures

Pros - The pros are the added company benefits to easily penetrate, capture and also to be able to rule the market.

Cons - The cons would be losing its own brand identity and to also divide the profits.

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Q3. Meet with the management team (this will be your assessor) to discuss your research and to gain support for the organisational vision, mission and values statements. as well as strategic goals. strategies and performance indicators. In addition discuss your ideas about co-operative ventures and listen to the ideas provided by the team.

Answer - To reach over the management team and also to be able to analyze how there can be the strategic goals, objectives and the performance indicators has to be attributed to the ideas of the cooperative ventures would be beneficial to easily enter into the market and also be able to control the market. Even taking as a back seat, would still be able to capture the market.

Q4. During the meeting, you must demonstrate effective communication skills including:

Speaking clearly

Responding to questions from the management team

Asking questions to elicit feedback from the management team

Active listening to confirm or clarify information.

Answer - The meeting is about cooperative ventures which would be done in sync with the leading supermarkets. It would help to grab the maximum market share, at less time and would be beneficial to formulate a profitable and the sales target territory.

The listening would be base don't the verbal and the non- verbal reactions of the people and discussion would be open based.

Q5. Following the meeting, summarise the meeting outcomes and send an email confirming the details as well as the approval to proceed to developing the strategic plan.

Answer -

To,

XYZ,

Team members of the Native Bush.

Subject-: Meeting agenda discussion points

Hi All,

This summarizes what we have discussed about the meeting concerning the co-operative ventures which address the pros and the cons of it (Cunningham, 2019). As decided that there can be various attributes about the cooperative ventures and it would be examined how the best strategy would be exercised to penetrate the business. Not only it would help the company to formulate and to be able to typecast most of its success stories. Cooperative ventures would be a blessing for the new company strategy and it would also help to penetrate the market easily, capturing maximum customer and to lead along with another company. the flip side would be it would be difficult to back out after forming a successful venture,

Feel free to drop in your suggestions and discussions on it.

Thanks.

XYZ

ABC department

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Assessment Task 3 - Research and development project

Part A - You are required to conduct a PESTEL analysis, as well as a SWOT analysis to inform the development of the Strategic Plan. Following the development of the PESTLE and SWOT analyses, students must use this research to develop their strategic plan.

Answer 1 - a) The report provided indicates that the data provided is levying down and the sales are steeping low (Cunningham, 2019).

b) Performance indicators have been achieved through profitable ventures and high sales strategies.

c) Recommendations would be to penetrate the market, use the internal resources judicial and make alternative plans.

d) The strategic planning process would be best in sync with the organization key planning along with the development planning.

Answer 2 -

To

ABC,

Report as directed

Hi Sir,

Please find the report attached with this email (Jarach, 2017),

Thanks,

XYZ

ABC Department

Complete the following activities

1. 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.

Sources of information would be

Magazines, newspapers, and publications

Secondary data resources

Primary data collection.

2. Using the sources of information, you have developed, research trends and development in the industry and competitors, potential new and emerging markets, competitors and any other relevant factors.

2) Research trends and developments in the industry

It's booming and increasing its share

Competitors

Woolworth

Coles

Aldi

Potential new and emerging markets

NSW, Sydney, etc.

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3. Complete a risk assessment and cost-benefit analysis for the potential cooperative venture as discussed at the meeting (Assessment Task 2) with the intention of providing a recommendation to go ahead or not with the venture.

Answer - Risk assessment and cost-benefit analysis of the cooperative ventures

It would be lucrative to capture the market along with the established venture.

The risk would be that it would overshadow the newly established company. Brand formation would be tough and difficult to venture out or call off the deal (Kotler, 2017).

4. Develop a SWOT and PESTLE analysis that outlines all of the internal and external factors that will impact on the Strategic Plan based on your research.

Answer - SWOT - The strength would be understanding the market, the weakness would be imitating the market by doing redundant result,

The opportunity would be to explore the market and the threat would be to analyze the potential external or internal factors.

PESTLE - The political factors would be understanding the working of the government, economic would be the turbulence to be evaluated, legislation to have adhered and environmental would evaluating the external and the internal factors and finally, the social implications would be understanding the diversity and the customer preferences (Meyer, 2015).

Q5. Send the completed PESTLE and SWOT analysis to your assessor. Your assessor will review your analysis and provide feedback as required.

Answer - Please do send.

Q6. Once you have received feedback from your assessor, you may proceed to developing the strategic plan.

Answer -

Strategic Plan

To identify the market,

Identify customer preferences

Plan to penetrate the market

Capture the market by replicating a similar strategy as per the desired demand (Meyer, 2015).

7. Develop 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.

Answer - Strategic plan template (see appendix)

8. Send your completed Plan to the Management team via email (your assessor) inviting comment and feedback. 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.

Answer -

To,

XYZ And Management Team,

Subjects: Evaluation and implementation of the strategic plan

Hi All,

This is to inform you all that the strategic planning has been made and our steps would be to penetrate the market, by identifying our competitors, our target market and our potential investors and the stakeholders.

The process and the action to follow would be briefing the team, identifying the strengths, weakness and how best the action would be matching with the cooperative plans. It would be documented, monitored and made alternative plans.

Looking forward to your valuable inputs.

Thanks,

XYZ

ABC Department

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9. Update your plan with any feedback provided by the assessor.

Answer - Please see the plan in appendix.

Part B - In this part of the assessment task you are required to communicate the strategic plan developed in the part A to the staff (three you in your class) at native bush spices Australia.

Answer -

Meeting Agenda

Strategic plan

Meeting attendees-: 2 employees and the staff

Meeting place-: Jupiter Room

Meeting times: 14.00 to 16.00 EST

As we have gathered here to form a strategic plan, we would be correlating with the choices and the preferred penetration into the market. As revealed we would be targeting a market, understanding the customer's requirements, synchronizing with the key plans and thereby being able to analyze and interpret the plans. Our strategy would be for the 1-year goal and the 5 years goals, we have to make a unique brand and also be able to attain a loyal customer base (Meyer, 2015).

To identify the market, identify customer preferences

Plan to penetrate the market

Capture the market by replicating a similar strategy as per the desired demand.

Assessment Task 4 - Performance Monitoring Project

Q1. Develop a report to send to the management team that addresses.

a. Analyse and report on the data provided.

b. Comment on whether performance indicators have been achieved. Report on your findings.

c. Develop recommendations for year ahead based on your evaluation as above, as well as required changes to the strategic plan.

d. 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.

Answer - a) The report looks supportive of the 20% increase in sales revenue as the company is progressing internationally. It has also derived a 10% increase in sales attributed to the alliance marketing. The sales have increased by $ 250,000.

b) Yes, sales have increased and so are the revenues.

c) Recommendation is to expand and capture more customer centeric sales.

d) The strategic planning process was in line with the production and was also in line with quality, sales, and revenue.

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Q2. Send your report via email to the management team (this will be your assessor).

Answer -

To,

XYZ Manager

Subject-: performance Review

As we are emerging and growing company, I would like to inform you that this quarter sales and last year performance indicators have been quite profitable and attainable. It has not only helped in determining how growth prospects have helped our company but by converting the sales into a profitable revenue, it would help us to sustain our business. I am also attaching report, for your kind review.

Thanks,

ABC quality performance analyst

Report

Sales

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