Develop Business Plan | My Assignment Tutor

BSBMGT617 Assessment 2 – Develop Business PlanThis assessment requires you to develop a comprehensive business plan for a new hospitality-based venture (such as anew restaurant). Your proposed business is to be located in your local area, to ensure you have access to local knowledgein 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 someideas 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 smallbusiness.(Use Business Plan 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 thebusiness• 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 goalsand objectives• Include information on sustainability and environmental impact of running the businessDashboard ► 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 availableDevelop strategies for minimising risks, ensuring you:• Identify specific interests and objectives of relevant people and seek and confirm their support of the planned businessdirection• Identify and develop risk management strategies according to business goals and objectives, and relevant legalrequirements• Develop contingency plan to address possible areas of non-conformance with the planYou are to submit your assignment as a professional market submission for your potential business, covering all pointsmentioned aboveSubmission status Attempt numberThis is attempt 1 ( 5 attempts allowed ).Submission statusNo attemptGrading statusNot gradedLast modified–Submission commentsComments (0) ADD SUBMISSIONYou have not made a submission yetNAVIGATIONDashboardSite homeSite pagesMy coursesHospitalitySIT50416 – Diploma of Hospitality ManagementSIT60316 – Advanced Diploma of Hospitality ManagementSIT60316 – 2021SIT60316 – Adv Diploma of HM – General InformationSITXFIN005 Manage Physical AssetsSITXMPR007 Develop and Implement Marketing StrategiesBSBMGT617 Develop and Implement a Business PlanParticipantsCompetenciesGradesGeneralZoom Class RecordingsLearner ResourcesLearner VideosOnline Lecture RecordingsAssessmentsBSBMGT617 Assessment 1 – Review 2 Business PlansBSBMGT617 Assessment 2 – Develop Business PlanBSBMGT617 Assessment 3 – Implement a Business PlanBSBMGT617 Assessment 4 – Monitor Business PlanWritten AssessmentEvidence SubmissionBSBFIM601 Manage FinancesSITXWHS004 Establish and Maintain a Work Health an…BSBRSK501 Manage Risk© Copyright VIT (Victorian Institute of Technology Pty Ltd) 2019-2020Victorian Institute of Technology Pty Ltd. City Campus Address: Level 14, 123 Queen Street, Melbourne, Victoria 3000AustraliaPhone: (61) 1300 17 17 55 Email: [email protected] RTO No: 20829 CRICOS Provider No: 02044E ABN: 41 085 128 525You are logged in as shehan mihidukulasuriya (Log out)BSBMGT617-2021Moodle 3.5.12 (Build: 20200704)


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