The physical resources purchasing budget for fitting out SoundWave Stereos new

The physical resources purchasing budget for fitting

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21. The physical resources purchasing budget for fitting out SoundWave Stereo’s new store was $87,500. They havecurrently spent $82,420 and, based on quotations received, have another $17,000 of equipment purchases stilloutstanding. They are currently 5.8% under budget but, if all outstanding purchases are made, will be 13.6% overby the completion of the plan. Which of the following is a viable recommendation to resolve this issue that stillallows the store to open on time with the necessary equipment? Re-evaluate equipment purchases and the cash flow budget. If needed, investigate sources of additional funding. Source cheap, non-brand name alternatives online and arrange for express delivery so it arrives in time. Name: BSBMGT517 – Assessment 1 Version: V.2019.1 Last Reviewed: January 2019 Page|8
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BSBMGT517 – Assessment 1 Re-evaluate the store layout, reduce the display floor space to match available equipment and plan for a two-stage (partial and full) opening.Make all necessary equipment purchases, as any financial shortcomings will be offset by revenue earned after opening. 22.What are two methods you can use to identify staff development needs? 23.Once development needs have been identified, what techniques can you use to support individuals and teams sothey can complete activities in the operational plan effectively and safely? 24. Monitoring process has indicated that physical resource purchases for SoundWave Stereo’s new store will soonbe over budget. As a result, you need to recommend changes to the operational plan. What should you prepareprior to negotiating changes to the plan? Obtain all performance data and comparisons to objectives, and prepare a detailed report outlining recommendations, adjusted timelines and contingency plans.
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