BSBMGT617 Develop and implement a business plan

Business Plan 1:

1: 1. Read the business plan ‘Quality Training’ (see Appendix 1).

2. Compare and contrast the business plan against the criteria for effective business plans, as described in your workbook or other reference materials.

3. Compare the strengths and weaknesses of the business plan. 

4. Complete a written report, detailing a critical analysis of the strengths and weaknesses of the business plan.

Business Plan 2:

1. Choose a business plan from the following website: a. Bplans.com, 2010, ‘Free sample business plans’, viewed October 2010, <http://www.bplans.com/sample_business_plans.cfm>.

2. Compare and contrast the business plan against the criteria for effective business plans, as described in your workbook or other reference materials.

3. Compare the strengths and weaknesses of the business plan.

4. Complete a written report, detailing a critical analysis of the strengths and weaknesses of the business plan.

Task Specifications

Deliverable specifications — Submit two completed reports (500 words each), analysing the strengths and weaknesses of two separate business plans.

Quality specifications— Each report should be properly formatted and logically structured. 

Identify relevant strengths and weaknesses of the plan, including discussion on the following areas: Compare and contrast with text book structure and layout. Comment on quality and relevance of information. Comment on quality of information, i.e. did the business plan demonstrate adequate research on competition market conditions? Comment on quantity of information – was there sufficient information to determine the likely success of the business in accordance with its performance measures? Were the performance measures specific and realistic? Was the document well set out, easily understood and pitched at an appropriate level for the reader?  

Reviewing of business plans in the present report includes reviewing of the quality training business plan. Quality training is operated as one of the registered training organizations that have several objectives to achieve. Simón-Moya and Revuelto-Taboada (2016) stated that the objective of this business plan is produce profit and develops business at challenging as well as manageable rate in order to be good citizen. The mission of quality training business plan is to exceed expectations of the customers through providing effective training and services for development. Quality training offers following qualifications and courses of training to the clients of business (McKenzie, 2015). National e recognized qualifications and stand alone training like manual handling, presentation skill and time management are provided.

Quality training has addressed classes of the competition in training as well as services of development. Thomas et al. (2015) asserted that in-house training for departments or personnel generally employed through larger organizations, which can afford fixed costs of the staffs in the organization. On the other hand, public training providers are usually established as well as respected that offers public courses and qualifications in a broad range. Private registered organizations of training offers training as well as qualifications in order to provide quality training and targeting of similar base of client. According to Larson (2014), quality training has not any intension to target the large operations and tendency to own in-house departments for training. Private training providers offer same qualifications as well as highly recognized training provider. There is limitation to offer flexible and work-based training as well as delivery in public training providers, which is focused in quality training approach. However, private RTO provides threat to quality training through providing services to the business with different franchises.

It is important to analyze strengths and weakness of the business that will be useful to focus on the areas of improvement required and strengthen the core values of the business plan. Laud, Betts and Basu (2015) mentioned that quality training can bring advantages in new business through providing alternatives to the unhappy clients in current provider. It can clean record, whereas history is not changed. Quality training is flexible and adaptable to the requirements of clients. It has low start-up costs and personalized service for training that is conducted by people owned the organization and meeting with new clients.  Quality training is useful in targeted local area that able visiting of trainees as well as clients regularly. It minimizes costs of the business and understands cultural influences.

However, implementing quality training has several limitations in the organization. In terms of new business, it is not known in the market place and has not ant references from the former clients (DaSilva & Trkman, 2014). As quality training is operated by owner and has limited resources, issues may arise in the business. Lack of funding for larger campaign of marketing is one of the weaknesses of quality training.