GBC160159_BSBMGT617.docx - George Brown College Assessment BSBMGT617 Develop and implement a Business Plan GBC160159 ELLEN EIMY HAYASHIDA Task 1 PART A

GBC160159_BSBMGT617.docx - George Brown College Assessment...

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George Brown College Assessment BSBMGT617 Develop and implement a Business Plan GBC160159 ELLEN EIMY HAYASHIDA
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Task 1 PART A Introduction Fast track couriers is a company operating in a New South Wales for the last 15 years. Their primary business function is delivering medium to large size packages across metropolitan Sydney. The business has a good reputation in the marketplace for reliability & value of money. Although sales & profits have increased each year by an average of 5%, the owners are looking to move forward by delivering to regional areas in NSW. Strategic Plan Goals; The organisations strategic goal is to grow the business & increase business profits over the next 3 years by expanding delivery routes to include regional NSW. Operational Plan Goals ; Fast Track Couriers will: • Commence deliveries to regional NSW within 12 months. • Increase sales by 40% in the next three years. Analyse & interpret the current business environment.
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Fast Track Couriers has built a solid reputation over the past 12 years, and this has been reflected in their growth & profit margins. Fast Track Couriers primarily targets small to medium-sized business which make up 80% of their customer base. They are limited by their geographic location, as they currently do not deliver outside of the Sydney metropolitan area. The company has been marketed through direct sales, telephone, internet listings and mail- outs. Through a program of telephone follow-up to ensure customers' ongoing satisfaction with the business, Fast Track Couriers has an admirable 87% retention rate for existing customers. Consult with Stakeholders; When developing a business plan, it is essential to consult with key stakeholders to ensure you have all the information you need to complete the plan. Key stakeholders include; • Senior management teams • Business partners • Customers • Shareholders • Staf • Technical experts Consultation can involve any of the following; -Meetings -Interviews -Feedback sessions -email communications – Newsletters. Develop performance objectives and measures; When developing a business plan, it is important to identify a set of performance objectives and measures, to monitor and evaluate the efectiveness of business plan. Performance objectives and measures may relate to; • Efficiency measures
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• Input measures, such as employee time or dollars allocated • Outcome measures • Qualitative indicators, such as feedback from customers, efect on the wider market or competitors, staf reports • Quantitative indicators, such as numbers produced and sold, turnover, customer satisfaction ranking, lower staf turnover.
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