BUSINESS PLAN REPORT - Accounting for Decision Making

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BUSINESS PLAN REPORT - Accounting for Decision Making

For this assignment, you are required to remain in the same group formed for your class presentation.

This assessment has 2 parts:  PART A: Written Business Plan and  PART B: Teamwork Reflection (included as an Appendix to the Business Plan) PART A: Written Business Plan Objective / Overview Drawing on the research and findings presented for Assignment 1 (that is, in your class presentation), the objective of this major assignment is to devise, formulate and write up a comprehensive business plan to operate a new small local retail or service business – a partnership or private company set up in Melbourne/Victoria not interstate or overseas in the near future. Public companies or Manufacturing businesses should not be considered. Do NOT base your business plan on an already existing business. A focus will be to present financial information. Requirements: You may wish to allocate or divide up the research areas across your group, but keep in mind that you must come together regularly to share your findings with your team members. Write up your business plan Your written business plan should include the results from the research you conducted for Assignment 1 (class presentation), as well as your financial plan, operating budgets and preliminary financial requirements. You should communicate how the business will be viable and successful. You could target the report to a potential lender, potential supplier, potential distributor or potential investor for your business. The following plan/report template should be used to formulate your business plan however, you may include additional information relevant to your business and success strategy. Also included is a guide to the number of words appropriate for each section of the business plan.

Template for your formal Business Plan Report: 1. Title page (not included in word count) 2. Table of Contents (not included in word count) 3. Executive summary (150 words) (Brief Outline. This is NOT an Introduction) a) An overview of the business idea and goals b) Brief summary of Marketing c) Brief summary of Operations d) Brief summary of Finances  Note: this section (especially parts b to d) is best done after all other sections of the Business Plan have been completed. 4. Background (250 words) a) Detailed description of business b) Business strategy c) Ownership and legal structure (including justification for ownership structure chosen) d) Owners skills and expertise 5. Marketing (400 words: 200 words for sections a) to d) and 200 words for e) [pricing policy]) a) Products or services to be offered b) Target market / customer demographics/ competitors c) Industry Characteristics d) Promotion and Advertising e) * Pricing policy * Note: Your business plan must use Cost Volume Profit analysis to demonstrate how the Pricing Policy has been determined. 6. Operations (450 words) a) Organisational structure and staffing b) Regulation considerations c) Professional advisers d) Business premises e) Plant and equipment required f) Service/Retail processes g) Key sustainability considerations.

Objective / Overview Your assignment team is to reflect and determine how effective it has been in completing all the tasks required to research, develop and produce the Written Business Plan and its content. Use the teamwork reflection template attached at end of this assignment (also provided on the portal under ‘week 1’) to provide your teamwork reflection. You are also required to use the Teamwork criterion in the Marking Rubric to guide the discussion and determine the Performance Level that the team worked at. As a team, indicate what level of teamwork performance you have determined for your team. This level MUST BE justified by providing evidence that your team has documented through the trimester in your personal journals/diaries, notes taken, Facebook entries, text messages, email communication and/or other forms of teamwork evidence. Please note, all forms of communication provided as evidence must be in English. This component of the assignment has a 500 word limit (evidence provided is not included in the word count). Note: Marks will be deducted if teamwork evidence is not provided. Requirements: Demonstrate your Teamwork skills. The assignment team/group will collectively complete the Teamwork Reflection Template provided to write a reflection and assess the team’s level of performance. This may include favourable and/or unfavourable team experiences. It is important that you discuss how you have dealt with the experiences, and if appropriate, how obstacles and difficulties were attempted to be resolved, any synergies that existed within your team which improved the overall team performance and how each member contributed to the cohesiveness of the team and to the task at hand. The team must use the ‘teamwork’ section of the assignment business plan rubric to determine an overall score for the assignment group’s teamwork. To evidence your Group’s teamwork skills, provide personal journal/diary entries, notes taken, Facebook entries, text messages, email communication and/or other forms of teamwork evidence throughout the trimester that documents the group’s teamwork activities such as planning, organisation, management, problem solving and collection of knowledge used for the assignment, etc. The teamwork evidence must be submitted as an appendix to the teamwork reflection template.