BSBMGT617_Develop_and_implement_a_business_plans_task_3.docx - Advanced Diploma of Business BSBMGT617 Develop and implement a business plan Assessment 3

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Advanced Diploma of BusinessBSBMGT617 Develop and implement abusiness planAssessment 3Teacher: Mahbubur Student: MUN HO KHOOID:1282
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Executive SummaryFast Track Couriers is a courier company operating in New SouthWales for the last 15 years. The company basically deliversmedium to large size packages across metropolitan Sydney. Following are the main points and summary of this plan.Strategic plan goals – Grow and increase business profitsover the next 3 years by expanding delivery routes to includeregional NSWOperational plan goals – commence deliveries to regionalNSW within 12 months and increase sales by 40% in thenext 3 yearsVision – maintain strengths and core values throughexpansion processFast Track Couriers primarily targets small to medium-sizedbusiness which make up 80% of their customer baseThe company will propose strategies to expand the businessto the regional NSW without risking its current financialstability or reputation, since potential clients had been lostdue to its inability to deliver in regional officesProposed strategy – remove the need for two drivers pertruck by installing an automatic lift gate to avoid heavylifting and purchase 10 new trucks1
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Introduction Fast Track Couriers has a good status in the marketplace forreliability and value for money and developed a solid reputationover the past 12 years. This has been reflected in its growth andprofit margins. The company limits its delivery by its geographiclocation, which is only within Sydney’s metropolitan area. Hence,the company is looking to move forward by delivering to regionalareas in NSW, even though sales and profits have increased by 5%each year. Fast Track Couriers has an admirable 87% retentionrate for existing customers. Background on Fast Track CouriersThe owners of Fast Track Couriers are not risk takers and they areaware that the company’s ongoing success is the result of a small,experienced team as well as their maintenance in personal tieswith clients. Their services are reputable for being reliable andlow cost. The vision of the company is to retain these strengths intheir expansion of business.The strategic and operational plans were developed as a result ofexternal market research, indicating a shortage of deliveryorganisations providing services to regional NSW towns. FastTrack Couriers were looking for their next growth opportunityand saw that this was an ideal opportunity to be seized upon. Reports from the Sales Manager indicated that contracts havebeen lost because some clients want to engage a courier who candeliver to their regional offices, in particular Newcastle,2
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Wollongong and the Central West. Fast Track is currently unableto meet this demand and therefore, some potential clients havebeen lost. This became a motive to expand operations for bothfinancial and customer service reasons.
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