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Q1.There are various models and methods used for organisational operational plans. Describe three models and methods operational plans and explain how they are used.3Q2.List and explain four key elements of an operational plan.4Q3.List and briefly explain three alternative approaches to 3Operational Management, Assessment 1 v2 Last updated on 10/09/2019 Page 7
T-1.8.1_v3developing Key Performance Indicators.Q4.Explain (within 300 words) the role of an operational plan in meeting organisational objectives.5Q5. Explain the steps in budgeting process within an organisation.5TOTAL MARKS20Operational Management, Assessment 1 v2 Last updated on 10/09/2019 Page 8
T-1.8.1_v3PART B: OPERATIONAL PLAN PROJECT – 80%SIMULATED WORK ORGANISATION (if not using an organisation of your choice)Note:The organisational details used in this assessment have been mostly sourced (and to some extent paraphrased) fromthe organisation’s website and other relevant external sources. Several of the organisational information within this assessmentcontext is imaginary or modified for the purpose creating simulated workplace scenarios for the unit BSBMGT517. Sourcedinformation used here are solely for educational purposes.WOOLWORTHS SUPERMARKET (Simulated Workplace)History and Origins (sourced)Woolworths Supermarkets (is known as "Woolies") is an Australian supermarket/grocery store chainowned by Woolworths Group. Founded in 1924, Woolworths along with Coles forms a near-duopoly ofAustralian supermarkets accounting for about 80% of the Australian market. Woolworths mostlyspecialises in selling groceries (vegetables, fruit, meat, packaged foods, etc.), but also sellsmagazines, DVDs, health & beauty products, household products, pet and baby supplies andstationery items. Woolworths currently operates about 1000 stores across Australia: 976Supermarkets and an additional 19 "Metro" convenience stores carrying the same logo. Woolworthsalso operates Woolworths Online (at Woolworths.com.au), originally known as "HomeShop", as a"click and collect" and home shopping delivery service. For more information on the organisation andthe operations, please visit the organisation’s website at .Woolworths Group, formerly called Woolworths Limited, was founded in September 1924, originally under the name "Woolworths Bazaar Ltd.", a play on the internationally renowned F. W. Woolworth name. After discovering the name had not been registered in Australia, and Woolworths had no plans for overseas expansion, the company became "Woolworths Limited" on 22 September 1924. Following the company's first "Bargain Basement" opening in the Imperial Arcade, on Sydney's Pitt Street, there was little interest in shareholders to accelerate the brand's growth. However, as trading continued and shareholders brought more capital, the dividends paid by the company increased from 5% to 50% after its third year of operation.