Develop Business Plan

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BSBMGT617 Assessment 2 – Develop Business Plan
This assessment requires you to develop a comprehensive business plan for a new hospitality-based venture (such as a
new restaurant). Your proposed business is to be located in your local area, to ensure you have access to local knowledge
in terms to position, clientele and associated rental costs.
Once you have identified the business you would like to develop, discuss this with your workgroup to brainstorm some
ideas to see if there could be any other views or ideas that you could include.
Then you are to research and determine the business requirements and develop a detailed Business plan for your small
business.
(Use Business P
lan Template Doc provided in Learner Resources for this assessment)
Before developing your business plan this would require you to:
Research:
• Identify the purpose of your business plan
• Identify and review the essential components of your business plan
• Identify and document your business goals and objectives as a basis for measuring your business performance
• Provide for finance, marketing, and provision of products / services to facilitate the business goals and objectives;
• Research resources, legal and compliance requirements, specifically in relation to occupational health and safety (WHS),
in accordance with business goals and objectives.
• Include risk management strategies.
When Developing the plan, ensure you include:
• Research on market needs, and market size and potential.
• Identify sources and costs of finance, from the financial plan, to provide required liquidity and profitability for the
business
• Identify methods, from the marketing strategies, to promote the market exposure of the business
• Identify methods/means of production/operation from the production/operations plan to conform with business goals
and objectives
• Include information on sustainability and environmental impact of running the business
Dashboard ► My courses ► Hospitality ► SIT60316 – Advanced Diploma of Hospitality Management ► SIT60316 – 2021 ►
BSBMGT617 Develop and Implement a Business Plan ► Assessments ► BSBMGT617 Assessment 2 – Develop Business Plan
• Identify staffing requirements to effectively produce/deliver products/services
• Identify specialist services and sources of advice, where required, and cost in accordance with resources available
Develop strategies for minimising risks, ensuring you:
• Identify specific interests and objectives of relevant people and seek and confirm their support of the planned business
direction
• Identify and develop risk management strategies according to business goals and objectives, and relevant legal
requirements
• Develop contingency plan to address possible areas of non-conformance with the plan
You are to submit your assignment as a professional market submission for your potential business, covering all points
mentioned above
Submission status
Attempt number
This is attempt 1 ( 5 attempts allowed ).
Submission status
No attempt
Grading status
Not graded
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Hospitality
SIT50416 – Diploma of Hospitality Management
SIT60316 – Advanced Diploma of Hospitality Management
SIT60316 – 2021
SIT60316 – Adv Diploma of HM – General Information
SITXFIN005 Manage Physical Assets
SITXMPR007 Develop and Implement Marketing Strategies
BSBMGT617 Develop and Implement a Business Plan
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Learner Resources
Learner Videos
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Assessments
BSBMGT617 Assessment 1 – Review 2 Business Plans
BSBMGT617 Assessment 2 – Develop Business Plan
BSBMGT617 Assessment 3 – Implement a Business Plan
BSBMGT617 Assessment 4 – Monitor Business Plan
Written Assessment
Evidence Submission
BSBFIM601 Manage Finances
SITXWHS004 Establish and Maintain a Work Health an…
BSBRSK501 Manage Risk
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