TASK 2 - ASSESSMENT

Learner Guide

BSBMGT616 Develop and Implement Strategic

Plans

This learner guide is copyright protected and belongs to:

T A B L E O F C O N T E N T S

TABLE OF CONTENTS ........................................................................................................................................ 2

COURSE INTRODUCTION .................................................................................................................................. 5

ABOUT THIS GUIDE .................................................................................................................................................. 5 ABOUT THIS RESOURCE ...................................................................................................................................... 5 ABOUT ASSESSMENT .......................................................................................................................................... 6

ELEMENTS AND PERFORMANCE CRITERIA ....................................................................................................... 8

EVIDENCE REQUIREMENTS ............................................................................................................................ 10

KNOWLEDGE EVIDENCE .......................................................................................................................................... 10 PERFORMANCE EVIDENCE ....................................................................................................................................... 10

ASSESSMENT CONDITIONS ............................................................................................................................ 12

PRE-REQUISITES ............................................................................................................................................. 12

TOPIC 1 – CONFIRM ORGANISATIONAL VISION AND MISSION ....................................................................... 13

WHAT IS A STRATEGY? ........................................................................................................................................... 13 WHAT IS A VISION STATEMENT? ............................................................................................................................... 14 WHAT IS A MISSION STATEMENT? ............................................................................................................................ 14 VALUES AND VALUE STATEMENTS ............................................................................................................................ 15

CHECK WITH STAKEHOLDERS THAT ORGANISATIONAL VISION AND MISSION ARE STILL HELD TO BE CURRENT

AND ARE SUPPORTED .................................................................................................................................... 16

YOU AND YOUR STAKEHOLDERS ............................................................................................................................... 16 WHO SHOULD GIVE INPUT? ..................................................................................................................................... 16

How do you get the information you need?................................................................................................. 17

MAKE ANY CHANGES OR REFINEMENTS TO VISION OR MISSION STATEMENT AS REQUIRED ........................ 19

WRITING A VISION STATEMENT ............................................................................................................................... 19 WRITING A MISSION STATEMENT ............................................................................................................................. 20

REVIEW OR DEVELOP ORGANISATIONAL VALUES TO SUPPORT THE VISION AND MISSION STATEMENT ....... 22

WRITING A VALUES STATEMENT .............................................................................................................................. 22 TECHNIQUES FOR DEVELOPING ORGANISATIONAL VALUES ................................................... ERROR! BOOKMARK NOT DEFINED.

GAIN SUPPORT FOR STRATEGIC PLANNING PROCESS FROM ALL RELEVANT STAKEHOLDERS ......................... 25

how to perform a Stakeholder Analysis ....................................................................................................... 25 STAKEHOLDER PLANNING ........................................................................................................................................ 28

TOPIC 2 - ANALYSE THE INTERNAL AND EXTERNAL ENVIRONMENT ............................................................... 31

DETERMINE INFORMATION REQUIREMENTS AND UNDERTAKE OR COMMISSION RESEARCH TO DELIVER

RELEVANT INFORMATION AND ANALYSE POLITICAL, ECONOMIC, SOCIAL, AND TECHNOLOGICAL

DEVELOPMENTS IN A GLOBAL CONTEXT ........................................................................................................ 31

THE ENVIRONMENTAL SCAN .................................................................................................................................... 31 STRATEGIC PLANNING METHODOLOGIES: POLITICAL, ECONOMIC, SOCIAL AND TECHNOLOGICAL (PEST) ANALYSIS...................... 32 PEST ANALYSIS – THINGS TO KEEP IN MIND & REMEMBER ............................................................................................ 34

SEEK ADVICE FROM APPROPRIATE EXPERTS WHEREVER NECESSARY ............................................................ 37

IDENTIFY INTERNAL AND EXTERNAL SOURCES OF INFORMATION RELEVANT TO THE ORGANISATION'S MARKET, COMPETITORS,

CUSTOMER BASE, VISION, VALUES AND CAPABILITIES ..................................................................................................... 37 OUTLINE THE LEGISLATION, REGULATIONS AND CODES OF PRACTICE RELEVANT TO THE ORGANISATION’S STRATEGIC PLAN ........... 38

IDENTIFY AND CONSIDER STRENGTHS AND WEAKNESSES OF EXISTING AND POTENTIAL COMPETITORS AND

ALLIES ............................................................................................................................................................ 40

OUTLINE STRATEGIC PLANNING METHODOLOGIES INCLUDING POLITICAL, ECONOMIC, SOCIAL AND TECHNOLOGICAL (PEST) ANALYSIS

AND STRENGTHS, WEAKNESSES, OPPORTUNITIES AND THREATS ANALYSIS (SWOT) ............................................................. 40 INTERNAL & EXTERNAL ENVIRONMENT FACTORS ......................................................................................................... 41 IDENTIFYING THE ISSUES TO ADDRESS ........................................................................................................................ 43

ANALYSE ORGANISATION’S STRENGTHS, WEAKNESSES, OPPORTUNITIES AND THREATS .............................. 45

CONSIDER COOPERATIVE VENTURES THAT ARE SUPPORTED BY RISK AND COST-BENEFIT ANALYSES ARE

CONSISTENT WITH THE ORGANISATIONAL VISION, MISSION AND VALUES AND PROVIDE FOR DUE DILIGENCE

AND CHECK THAT ANALYSIS OF INTERNAL AND EXTERNAL ENVIRONMENT IS CONSISTENT WITH THE

PERSPECTIVES OF OTHER INFORMED PEOPLE ................................................................................................ 47

RISK ANALYSIS ...................................................................................................................................................... 47 RISKS AND RISK MANAGEMENT STRATEGIES RELEVANT TO STRATEGIC PLANNING INCLUDING INTELLECTUAL PROPERTY RIGHTS AND

RESPONSIBILITIES, AND OTHER RISKS .......................................................................................................................... 48 COST BENEFIT ANALYSIS .......................................................................................................................................... 49 DUE DILIGENCE ..................................................................................................................................................... 50 PERSPECTIVES OF INFORMED PEOPLE ......................................................................................................................... 50

TOPIC 3 - WRITE STRATEGIC PLAN ................................................................................................................. 51

WHAT IS A STRATEGIC PLAN? .................................................................................................................................. 51

DOCUMENT RELEVANT RESEARCH AND BACKGROUND FOR INCLUSION IN THE STRATEGIC PLAN AND

FORMULATE STRATEGIC OBJECTIVES AND STRATEGIES NEEDED FOR THE FUTURE AND DETAIL EACH

STRATEGY WITH AN ASSIGNED PRIORITY, A TIMEFRAME, RESPONSIBLE PARTIES AND MEASURABLE

PERFORMANCE INDICATORS ......................................................................................................................... 52

FIVE ELEMENTS OF A STRATEGIC PLAN ....................................................................................................................... 52 BUILDING THE ELEMENTS ........................................................................................................................................ 53

CIRCULATE STRATEGIC PLAN FOR COMMENT, SUPPORT AND ENDORSEMENT .............................................. 56

COMMUNICATIONS PLAN ........................................................................................................................................ 56

TOPIC 4 - IMPLEMENT STRATEGIC PLAN ........................................................................................................ 57

COMMUNICATE STRATEGIC PLAN TO ALL RELEVANT PARTIES ....................................................................... 57

BRIEF PEOPLE WITH A SPECIFIC ROLE IN RELATION TO STRATEGIES ............................................................... 59

USE PERFORMANCE INDICATORS TO MONITOR PROGRESS IN IMPLEMENTING PLAN ................................... 60

KEY PERFORMANCE INDICATORS .............................................................................................................................. 60 QUANTIFYING KPI’S ............................................................................................................................................... 60 GOOD KEY PERFORMANCE INDICATORS VS. BAD ......................................................................................................... 61

MAKE NECESSARY REFINEMENTS TO PLAN .................................................................................................... 62

CHANGING THE PLAN ............................................................................................................................................. 62

EVALUATE ACHIEVEMENT OF OBJECTIVES AT AGREED MILESTONES ............................................................. 64

FREQUENCY OF MONITORING AND EVALUATION ......................................................................................................... 64

REVIEW EFFECTIVENESS OF PLAN AND CONSIDER METHODS FOR IMPROVING STRATEGIC PLANNING

PROCESSES .................................................................................................................................................... 66

REVIEWING THE SYSTEM ......................................................................................................................................... 66 RESPONSIBILITIES FOR MONITORING AND EVALUATION ................................................................................................ 66

SUMMARY ..................................................................................................................................................... 68

REFERENCES ................................................................................................................................................... 69

C O U R S E I N T R O D U C T I O N

AB OUT TH IS GU IDE

This resource covers the unit BSBMGT616 - Develop and implement strategic plans.

This unit describes the skills and knowledge required to establish the strategic direction of the organisation, sustain competitive advantage and enhance competitiveness. It covers analysis and interpretation of relevant markets, capability assessment of the organisation and analysis of the organisation’s existing and potential competitors and allies. It also covers implementation of the strategic plan and developing specific actions and initiatives that will be undertaken by people working in various roles.

It applies to individuals working in senior roles in the organisation who have responsibility for ensuring that the organisation is positioned to ensure its long-term viability and success.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

AB OUT TH IS RESOU RCE

This resource brings together information to develop your knowledge about this unit. The information is designed to reflect the requirements of the unit and uses headings to makes it easier to follow.

Read through this resource to develop your knowledge in preparation for your assessment. You will be required to complete the assessment tools that are included in your program. At the back of the resource are a list of references you may find useful to review.

As a student, it is important to extend your learning and to search out text books, internet sites, talk to people at work and read newspaper articles and journals which can provide additional learning material.

Your trainer may include additional information and provide activities. Slide presentations and assessments in class to support your learning.

AB OUT ASSESSMENT

Throughout your training, we are committed to your learning by providing a training and assessment framework that ensures the knowledge gained through training is translated into practical on the job improvements.

You are going to be assessed for:

 Your skills and knowledge using written and observation activities that apply

to your workplace.

 Your ability to apply your learning.

 Your ability to recognise common principles and actively use these on the job.

You will receive an overall result of Competent or Not Yet Competent for the assessment of this unit. The assessment is a competency based assessment, which has no pass or fail. You are either competent or not yet competent. Not Yet Competent means that you still are in the process of understanding and acquiring the skills and knowledge required to be marked competent. The assessment process is made up of a number of assessment methods. You are required to achieve a satisfactory result in each of these to be deemed competent overall.

All of your assessment and training is provided as a positive learning tool. Your assessor will guide your learning and provide feedback on your responses to the assessment. For valid and reliable assessment of this unit, a range of assessment methods will be used to assess practical skills and knowledge.

Your assessment may be conducted through a combination of the following methods:

 Written Activity

 Case Study

 Observation

 Questions

 Third Party Report

The assessment tool for this unit should be completed within the specified time period following the delivery of the unit. If you feel you are not yet ready for assessment, discuss this with your trainer and assessor.

To be successful in this unit you will need to relate your learning to your workplace. You may be required to demonstrate your skills and be observed by your assessor in your workplace environment. Some units provide for a simulated work environment and your trainer and assessor will outline the requirements in these instances.

E L E M E N T S A N D P E R F O R M A N C E C R I T E R I A

1. Confirm organisational vision and mission

1.1 Check with stakeholders that organisational vision and mission are still held to be current and are supported

1.2 Make any changes or refinements to vision or mission statement as required

1.3 Review or develop organisational values to support the vision and mission statement

1.4 Gain support for strategic planning process from all relevant stakeholders

2. Analyse the internal and external environment

2.1 Determine information requirements and undertake or commission research to deliver relevant information

2.2 Analyse political, economic, social, and technological developments in a global context

2.3 Seek advice from appropriate experts wherever necessary

2.4 Identify and consider strengths and weaknesses of existing and potential competitors and allies

2.5 Analyse organisation’s strengths, weaknesses, opportunities and threats

2.6 Consider cooperative ventures that are supported by risk and cost benefit analyses, are consistent with the organisational vision, mission and values and provide for due diligence

2.7 Check that analysis of internal and external environment is consistent with the perspectives of other informed people

3. Write strategic plan 3.1 Document relevant research and background for inclusion in the strategic plan

3.2 Formulate strategic objectives and strategies needed for the future

3.3 Detail each strategy with an assigned priority, a timeframe, responsible parties and measurable performance indicators

3.4 Circulate strategic plan for comment, support and endorsement

4. Implement strategic plan 4.1 Communicate strategic plan to all relevant parties

4.2 Brief people with a specific role in relation to strategies

4.3 Use performance indicators to monitor progress in implementing plan

4.4 Make necessary refinements to plan

4.5 Evaluate achievement of objectives at agreed milestones

4.6 Review effectiveness of plan and consider methods for improving strategic planning processes

E V I D E N C E R E Q U I R E M E N T S

This describes the essential requirements and their level required for this unit.

KNOWLEDGE EVIDE NCE

To complete the unit requirements safely and effectively, the individual must:

 Outline the legislation, regulations and codes of practice relevant to the

organisation’s strategic plan.

 Give examples of risks and risk management strategies relevant to strategic

planning including:

o intellectual property rights and responsibilities

o other risks

 Outline strategic planning methodologies including political, economic, social

and technological (PEST) analysis and strengths, weaknesses, opportunities

and threats analysis (SWOT)

 Identify internal and external sources of information relevant to the

organisation's market, competitors, customer base, vision, values and

capabilities

 Outline techniques for developing organisational values.

PERFORMANCE E VID ENCE

Evidence of the ability to:

 Consult and communicate effectively with relevant stakeholders to:

o confirm or revise the organisation’s mission, vision and values

o validate findings of research and analysis

o get input to and endorsement of strategic plans

o brief relevant parties about the plan

 Analyse organisation’s internal and external environment to formulate strategic

plans including:

o background and research relevant to the plan

o legislation, regulations and codes of practice, including for intellectual

property

o objectives, strategies and priorities

o roles and responsibilities

o performance indicators

o timeframes

o consideration of co-operative ventures

o cost-benefit and risk analysis

 Seek advice from appropriate experts wherever necessary

 Monitor and evaluate the implementation of the plan and make refinements as

appropriate

 Review effectiveness of planning processes and identify opportunities for

improvement.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

A S S E S S M E N T C O N D I T I O N S

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the management and leadership field of work and include access to:

 Relevant legislation, regulations, standards and codes

 Workplace documentation and resources

 Case studies and, where possible, real situations

 Interaction with others.

Assessors must satisfy NVR/AQTF assessor requirements.

P R E - R E Q U I S I T E S

This unit must be assessed after the following pre-requisite unit:

There are no pre-requisites for this unit.

T O P I C 1 – C O N F I R M O R G A N I S A T I O N A L V I S I O N A N D M I S S I O N

WHAT IS A S TR ATEG Y?

Put simply, a strategy is an overall approach and plan. In this resource, we will be dealing with strategic planning, which is the overall planning that facilitates the good management of a process. The process of strategic planning will take you outside the day to day activities of your organisation and provide you with the big picture of what you are doing and where you are going as an organisation. The strategic planning process will provide you with clarity about what you and your organisation want to achieve and how you should go about achieving it – rather than just looking at things on a daily basis.

The strategic planning process will allow you to answer the following questions regarding your organisation:

 Who are we?

 What capacity do we have/what can we do?

 What problems are we addressing?

 What difference do we want to make?

 Which critical issues must we respond to?

 Where should we allocate our resources/what should our priorities be?

Only once these questions are answered, is it possible to answer the following:

 What should our immediate objective be?

 How should we organise ourselves to achieve this objective?

 Who will do what when?1

This process is such an important one to organisations; during the planning process, it is very important that you work with others to develop and implement your plan. This will ensure you include your organisation’s stakeholders.

1 http://civicus.org/view/media/Strategic%20Planning.pdf

Both people and organisations need to establish a strategic framework for any success. This framework consists of:

 A vision for the future of the company

 A mission that defines what you are doing

 Values that shape your actions

 Strategies that hone in on your key success approaches

 Goals and action plan to guide your daily, weekly and monthly actions

An organisation's success and your personal success depend on how well you define and live by each of these important concepts.

WHAT IS A VISION S TATEMENT ?

A vision is a statement about what your organisation wants to become. It should resonate with all members of the organisation and help them feel proud, excited, and part of something much bigger than themselves. A vision should stretch the organisation’s capabilities and image of itself. It gives shape and direction to the organisation’s future.2 Visions can range in length from a couple of words to several pages.

WHAT IS A M ISSION STATEMEN T ?

A mission or purpose is a precise description of what an organisation does. It should describe the business the organisation is in. It is a definition of “why” the organisation exists currently. Each member of an organisation should be able to verbally express this mission.3

Additionally, each person needs a mission for his or her life. The alignment of your life mission with your organisation’s mission is one of the key factors in whether you are happy with your work and workplace. If they are incongruent, you are likely dissatisfied with your work choice.

2 http://www.franchiseindia.com/magazine/2007/november/Vision-Mission-and-Goals_34... 3 http://www.franchiseindia.com/magazine/2007/november/Vision-Mission-and-Goals_34...

VALUES AND VALUE STA TEMENTS

Values are traits or qualities that are considered worthwhile; they represent an individual’s highest priorities and deeply held driving forces. (Values are also known as core values and as governing values; they all refer to the same sentiment.)

Value statements are grounded in values and define how people want to behave with each other in the organisation. They are statements about how the organisation will value customers, suppliers, and the internal community. Value statements describe actions which are the living enactment of the fundamental values held by most individuals within the organisation.

The values of each of the individuals in your workplace, along with their experience, upbringing, and so on, meld together to form your corporate culture. The values of your senior leaders are especially important in the development of your culture. These leaders have a lot of power in your organisation to set the course and environment and they have selected the staff for your workplace.

If you think about your own life, your values form the cornerstones for all you do and accomplish. They define where you spend your time if you are truly living your values. Each of you makes choices in life according to your most important four – ten values. Why not take the time to identify what is most important to you and to your organisation.4 5

4 http://www.slideshare.net/ulhasw/business-policy-strategic-management-for-mba 5 http://humanresources.about.com/cs/strategicplanning1/a/strategicplan_3.htm

C HEC K W I TH S TA K EHOL D ER S THA T OR GA N I S A TI O N A L V I S I ON A N D MI S S I ON A R E S TI L L HEL D T O B E C U R R EN T A N D A R E

S U PP OR T ED

YOU AND Y OUR S TAKEHO LDERS

Because a strategic planning process looks at the big picture, it is useful to get a range of input into the process. The input should make it clear what the opportunities, challenges and threats in your organisation’s internal and external context are. It should also include information from stakeholders about the current state of the vision and mission of the company. It should provide answers to the following questions:

 Is the vision the same or has the company changed direction?

 Does the mission statement still hold true?

 What types of activities does the company perform in relation to the vision

and mission?

 Do the vision and mission statement need revision?

WHO SH OULD GIVE INPU T?

You are looking for someone who understands development, has particular insights into the sector of development in which you are involved or are planning to be involved, and who has some understanding of the kind of contribution an organisation or project such as yours could make.

It is also important to have an authoritative person – someone who is respected in the sector and whom your staff and Board will take seriously. You could have more than one person. In other words, you are looking for stakeholders. Anyone who has an interest in the company or its activities.

Put simply your stakeholders are groups or individuals within your organisation who actually have an interest in the work that you are doing and the outcomes of this work.

Stakeholders may include:

 Employees

 Board members

 Directors

 Investors

 Customers

 Suppliers

 Shareholders

 Owners

 Creditors

 The community

 Government

 Department managers

Stakeholders can contribute a wide variety of information, and at times expertise, that is invaluable in the development of the vision and mission statements. The different perspectives of each of the stakeholder groups may provide vital information that a single individual could have overlooked. Therefore, it is important the gather information from the stakeholders that are relevant to organisation.

HOW DO YOU GET THE INFORMATION YOU NEED?

To gather the information from the stakeholders, they need to understand the basis of their input. You should issue your stakeholders who wish to contribute with a brief.

This brief will be used by them, in advance, to prepare.

If the information will be gathered face to face, you should clearly outline the venue for the meeting, and the time you want the stakeholder to arrive. It is important that the stakeholder is able to be provided with information before they provide input.

Make sure your brief includes the following;

 The purpose of the input – what you hope will happen as a result of the input,

how it will be incorporated into the strategic planning process and the vision

and mission statements

 How long the input should be and the format of the input. This may be a

questionnaire, a report, a presentation or a verbal discussion.

 What the stakeholder should cover in content – this may include information

such as expertise, research, opinions

 How the input will fit into the strategic planning process

 How interactive/proactive you would like the input to be – This include the

form of input, is it a consultation, where the input is open to questions or

discussion, or is it simply providing information to be reviewed and analysed.

Once you have gathered the information you need to set a context. It is time to put that information to use by reviewing and rewriting – if necessary – your mission, vision and values statements based on the input from the stakeholders.

MA K E A N Y C HA N GES OR R EF I N EMEN TS TO V I S I O N OR MI S S I ON S TA T EM EN T A S R EQU I R E D

WRITING A VISION S TA TEMENT

Organisations usually exist because they want to make a difference in their market or to society as a whole. They have a vision of how their organisation could or should be in the future. The vision is not something they can achieve on their own. It is something that guides them in their work and which they believe can be achieved if enough of their projects and their staff members share the vision and work towards it.

An example of a vision is provided below. This vision statement is the vision of the Coca- Cola Company:

To achieve sustainable growth, we have established a vision with clear goals.

 People: Be a great place to work where people are inspired to be the best they can be

 Portfolio: Bring to the world a portfolio of quality beverage brands that anticipate and

satisfy people's desires and needs

 Partners: Nurture a winning network of customers and suppliers, together we create

mutual, enduring value

 Planet: Be a responsible citizen that makes a difference by helping build and support

sustainable communities

 Profit: Maximise long-term return to shareowners while being mindful of our overall

responsibilities

 Productivity: Be a highly effective, lean and fast-moving organisation6

The vision is the starting point for any strategic framework. It shapes the framework and gives the organisation or project a basis on which to answer the following question:

 Will this goal, objective or activity help us to make a contribution to our

vision?

6 http://www.coca-colacompany.com/our-company/mission-vision-values

WRITING A MISSION ST ATEMENT

A mission statement includes the particular way in which your organisation intends to make a contribution towards your vision. A mission statement describes what the organisation does, with whom or for whom it does it, and, in broad terms, how it does it.

A mission statement will have four components:

 What the organisation or project is

 What the organisation or project aims to do or achieve

 Who the work is aimed at – the target group – and who it is done with

 How it does its work – in broad terms what methods it uses7

Note that, when it is possible, a mission statement gives the geographical area in which the organisation or project works.

A mission statement is important to any organisation because:

 It communicates what you do and how you do it

 It helps you to clarify and focus your activities

If the company or its activities change in any way, then the mission statement must also change.

The importance of regularly reviewing your mission statement cannot be underestimated. The mission statement cannot be finalised until you have decided on the goals and objectives of the company. Once these have been determined, then the mission statement should be released.

Continuing with the theme of Coca-Cola, an example of a mission statement is

Our mission is:

To refresh the world in mind, body and spirit

7 http://civicus.org/view/media/Strategic%20Planning.pdf

To inspire moments of optimism and happiness through our brands and actions

To create value and make a difference.8

8 http://www.coca-cola.co.uk/about-us/mission-vision-and-values

R EV I EW OR DEV EL OP OR GA N I S A TI ON A L V A L U ES TO S U PPOR T THE V I S I ON A N D MI S S I ON S TA TE M EN T

WRITING A VALUES STA TEMEN T

TECHNIQUES FOR DEVELOPING ORGANISATIONAL VALUES

In order to write a values statement, you will need to understand shared values that underpin your work as an organisation and your relationships with users and other stakeholders.

Your values are what you believe is the right way to do things and to deal with people in your organisation. Your organisational values will determine your strategies and your operational principles.

Reaching a consensus on your organisational values is vital because it is this these values that provide a basis for you to make business decisions. Some of these decisions may be difficult and therefore, having clear values can provide guidance in the decision making.

The kinds of decisions you need to make based on your organisational values may include:

 Should we work with this group of people, or project, or organisation?

 Should we spend money on this?

 Is what we are doing worthwhile or could the money be better spent doing

something else?

 Can we tender for this particular work?

 Is the way we are going about this project consistent with our values? If not,

what should we do?

 Is the work we are doing consistent with our stated values?9

9 http://civicus.org/view/media/Strategic%20Planning.pdf

If an organisation makes decision that are not in line with their values it can have a negative effect on the organisations reputation and future business opportunities or growth.

The values of a business may also be a fundamental part of the reason employers choose to work for an organisation. Greenpeace is an organisation that has been operating for over 40 years. The values of the organisation are fundamental in the contribution of volunteers and employees. The values of Greenpeace are:

 Personal responsibility and non-violence

 Independence – this includes financial independence from political or

commercial interest

 No permanent friends or foes – the environment is the priority

 Promoting solutions – the goal is to eliminate environmental problems, not

manage them

10

An example of the values of Coca-Cola are:

Our shared values guide our actions and describe how we behave in the world:

 Leadership: The courage to shape a better future

 Collaboration: Leverage collective genius

 Integrity: Be real

 Accountability: If it is to be, it's up to me

 Passion: Committed in heart and mind

 Diversity: As inclusive as our brands

 Quality: What we do, we do well11

10 http://www.greenpeace.org/international/en/about/our-core-values/ 11 http://www.coca-cola.co.uk/about-us/mission-vision-and-values

GA I N S U PPOR T F OR S TR A TEGI C PL A N N I N G PR OC ES S F R OM A L L R EL EV A N T S TA K EHOL DER S

Stakeholder management is critical to the success of every project in every organisation. By engaging the right people in the right way in your project, you can make a big difference to its success.

Stakeholder Management is an important discipline that should be used to win support from others. It helps ensure that projects succeed where others may fail.

There are two major elements to stakeholder management:

 Stakeholder Analysis - The technique used to identify the key people who

must be won over

 Stakeholder Planning - To build the support that helps you succeed

The benefits of using a stakeholder-based approach are that:

 You can use the opinions of the most powerful stakeholders to shape your

projects at an early stage. Not only does this make it more likely that they will

support you, but their input can also improve the quality of your project

 Gaining support from powerful stakeholders can help you to win more

resources – this makes it more likely that your projects will be successful

 By communicating with stakeholders early and often, you can ensure that

they know what you are doing and fully understand the benefits of your

project – this means they can support you actively when necessary

 You can anticipate what people's reaction to your project may be, and build

into your plan the actions that will win people's support12

HOW TO PERFORM A STAKEHOLDER ANALYSIS

Identify Your Stakeholders: The first step in your stakeholder analysis is to brainstorm who your stakeholders are. In other words, you need to identify all the

12 http://www.mindtools.com/pages/article/newPPM_07.htm

people who are or will be affected by your work. Stakeholders in your organisation might include:

 Your boss

 Senior executives

 Your team

 Customers/clients

 Lenders

 Suppliers

 Shareholders

 Community members

 The press

 The public

Remember that although stakeholders may be both organisations and people, ultimately you can only communicate with individual people. Make sure that you identify the correct individual stakeholders within a stakeholder organisation.

Prioritise Your Stakeholders: From the above list you may have many people and organisations that you have identified as being affected by your work. Some of these may have the power either to block or advance your activities or goals. Some may be interested in what you are doing, others may not.

Map out your stakeholders on a Power/Interest Grid as shown below, and classify them by their power over your work and by their interest in your work.

Someone's position on the grid shows you the actions you have to take with them:

 High power, interested people: these are the people you must fully engage

with, and make the greatest efforts to satisfy

 High power, less interested people: put enough work in with these people to

keep them satisfied, but not so much that they become bored with your

message

 Low power, interested people: keep these people adequately informed, and

talk to them to ensure that no major issues are arising. These people can often

be very helpful with the detail of your project

 Low power, less interested people: again, monitor these people, but do not

bore them with excessive communication

Understanding your key stakeholders: You now need to identify how they are likely to feel about and respond to your activities. You also need to know how best to involve them in your project and how to communicate with them both effectively and easily.

To determine this you should ask the following questions:

 What financial or emotional interest do they have in the outcome of your

work? Is it positive or negative?

 What motivates them?

 What information do they want or need from you?

 What is the best way of communicating with them?

 Is their opinion of your activities based on good information?

 Who influences their opinions generally?

 How can you win them around to support your project?

 How will you manage their opposition if there is any?

 Who else might be influenced by their opinions?

The best way to determine the answers to these questions is to speak with each one individually. Although this may take some time, it is in your best interests to take the time to ask the questions. Your project or activities may depend on the answers to these questions.

You can summarise the understanding you have gained on the stakeholder map, so that you can easily see which stakeholders are expected to be blockers or critics, and which stakeholders are likely to be advocates and supporters or your project. A good way of doing this is by colour coding: showing advocates and supporters in green, blockers and critics in red, and others who are neutral in orange.13

In the example shown above, you can see that a lot of effort needs to be put into persuading Piers and Michael of the benefits of the project – Janet and Amanda also need to be managed well as powerful supporters.

Whereas, Mike William and Dora Brown have little power or interest in the project and therefore, should be monitored with a minimum effort.

STAKEHOL DER PL ANNING

Once you have performed the stakeholder analysis, you will then move on to the planning stage. You can create a communications table with the following headings for this exercise.

 Stakeholder Name

 Communications Approach – this may be a face to face meeting, or perhaps an

email update.

13 http://www.mindtools.com/pages/article/newPPM_07.htm

 Key Interests and Issues

 Current Status

 Desired Support

 Desired Project Role - if any

 Actions Desired - if any

 Messages Needed

 Actions and Communications

Then complete the table with the information you have gathered from each stakeholder you have spoken to.

Once you have prepared your stakeholder plan, all you need to do is to implement it. As with all plans, it will be easier to implement if you break it down into a series of small, achievable steps and action these one-by-one.

See the following page for an example template.

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T O P I C 2 - A N A L Y S E T H E I N T E R N A L A N D E X T E R N A L E N V I R O N M E N T

DET ER MI N E I N F OR MA T I O N R E QU I R EMEN TS A N D U N DER TA K E OR C OM MI S S I ON R ES EA R C H TO DE L I V ER R EL EV A N T

I N F OR MA TI ON A N D A N A L Y S E P OL I TI C A L , E C ON O MI C , S OC I A L , A N D TEC HN OL O G I C A L DE V EL OP M EN TS I N A GL OB A L C ON TEX T

Once you have determined the information that each of your stakeholders needs, you will have to gather the information and provide it in the appropriate format for each of your stakeholders. This may involve some research on your part. One type of research that you may need to perform could be an environmental scan.

THE ENVIR ONMEN T AL SCAN

In terms of organisations and strategic planning, an environmental scan involves considering the factors that will influence the direction and goals of your organisation. And, it includes consideration of both present and future factors that might affect the organisation, since, of course, we’re planning for the future, not just the present.

For example, an environmental scan might project that in the next ten years, the number of people – potential customers – between the ages of 18-44 will increase from 23% to 42%. That’s important information if we want to decide what kinds of new products we might consider introducing into the marketplace. Should we work on developing products targeted at a dwindling senior population? Or should we develop products to take advantage of the shift to a younger market? The environmental scan forces us to look at these factors.

Some people suggest the environmental scan should address only factors external to the organisation – things like: markets, legislation and government actions, demographics, consumer trends and the like – however, this leaves out a very important part of any environment – yourself. Therefore it is suggested that you also do an internal environmental scan.

An internal environmental scan involves looking at the capabilities of the organisation – hardware, personnel, infrastructure, abilities, and structure – and that information can be compared to what the organisation will need in the future to achieve its strategic goals.

STRATEGIC PLANNING M ETHODOLOGIES : POLITICAL , ECONOMIC, SOCIAL AND TECH NOL OG ICAL (P EST) AN ALYSIS

A PEST analysis is concerned with the environmental influences on a business. The acronym stands for the Political, Economic, Social and Technological issues that could affect the strategic development of a business.14

PEST analysis incorporates four perspectives, which give a logical structure to analysing the external environment. A PEST analysis provides a clear presentation for further discussions, strategic planning and proactive decision-makings. In writing a good PEST analysis, you should ensure that you attempt to define what sort of organisation you are.

Are you?

 A company looking at its market

 A product looking at its market

 A brand in relation to its market

 A local business unit

 A strategic option, such as entering a new market or launching a new product

 A potential acquisition

 A potential partnership

 An investment opportunity15

It is very important to describe the subject – your organisation – of the PEST analysis clearly so that people, contributing to the analysis and those interpreting the results from PEST analysis fully understand the purpose of the PEST assessment and its implications.

The first stage of producing a good quality, useful PEST analysis, is to first brainstorm the relevant factors that apply to the company or to its business environment. Second you must identify the information that applies to these factors; and third, draw conclusions from this information. It is, however, necessary not only to describe factors, but to think through what they mean and how do they impact the business. PEST

14 http://www.businesswire.com/news/home/20080302005014/en/Study-Political-Economic... 15 http://www.coursework4you.co.uk/essays-and-dissertations/pest-analysis.php

analysis is a starting point, and has its limits, meaning that you must test the conclusions and findings against the reality of your situation.16

In conducting PEST analysis, consider each PEST factor as they all play a part in determining your organisation’s overall business environment.

Political – this looks at the political environment. All businesses are affected to some extent by the political environment. This includes the style of government and the type of government in power. In a country like Australia, a conservative party governs a particular way. In some countries, there may be government instability. The political factor also includes topics such as tax policy, trade restrictions, wars and conflicts, and government policies. Political also includes local and state government influences.

Economic – A large topic in the economic factor includes economic growth. This may include the economic growth of the country. Some organisations may also need to consider the economic development of the local area. It can include the current status such as economic policy, interest rates, unemployment, taxation and industry influences.

Social – The social factor is influences by the current social beliefs and attitudes. It includes demographics, social trends, customer attitudes and expectations, fashion and role models, current ethical issues that may be in the interests of people, cultural changes and ethical or religious factors.

Technological – This factor incorporates topics that may technology influences the business. It includes technology development, communication, consumer buying patterns, changes in production methods, technology legislation and potential future technology advancements and development.

16 http://www.coursework4you.co.uk/essays-and-dissertations/pest-analysis.php

Some examples of topics include the following:

Once you have identified the key trends in each of the four categories, the next step is to analyse the potential each trend has to disrupt the way the company does business. The company is able to determine the changes needed to exploit the opportunities and blunt the threats.

PEST AN ALYS IS – TH INGS TO KEEP IN M IND & REMEMBER

When carrying out a PEST analysis it is important to show how much the factors that the firm picks out, influence the nature of competition. It is this appraisal of the impact of each factor that distinguishes an analysis from a mere list – that is, without analysis a PEST is nothing useful to an organisation.

A common error is to try and devise a single analysis to try and cover the entire history of a firm and an industry – rather than just looking at a range of factors each of which may play a significant role in influencing strategy. Your organisation’s analysis must keep past development separate from that of the present situation and future trends.

When analysing PEST factors in the present, make it obvious why the present is different from the past, and how the industry may need to change. Also, remember that it is perfectly legitimate when using PEST to leave some categories empty. If there are no important political/legal influences on a particular industry, just leave it blank.17

Below is an example of a PEST analysis of a country. Please read this and see if you can identify the answers?

Malaysia – PEST Analysis Exercise Government type: constitutional monarchy note: Malaya (what is now Peninsular Malaysia) formed 31 August 1957; Federation of Malaysia (Malaya, Sabah, Sarawak, and Singapore) formed 9 July 1963 (Singapore left the federation on 9 August 1965); nominally headed by the paramount ruler and a bicameral Parliament consisting of a nonelected upper house and an elected lower house; Peninsular Malaysian states - hereditary rulers in all but Melaka, Penang, Sabah, and Sarawak, where governors are appointed by the Malaysian Government; powers of state governments are limited by the federal constitution; under terms of the federation, Sabah and Sarawak retain certain constitutional prerogatives (e.g., the right to maintain their own immigration controls); Sabah - holds 20 seats in House of Representatives, with foreign affairs, defense, internal security, and other powers delegated to federal government; Sarawak - holds 28 seats in House of Representatives, with foreign affairs, defense, internal security, and other powers delegated to federal government. Economy - overview: Malaysia made a quick economic recovery in 1999 from its worst recession since independence in 1957. GDP grew 5%, responding to a dynamic export sector, which grew over 10% and fiscal stimulus from higher government spending. The large export surplus has enabled the country to build up its already substantial financial reserves, to $31 billion at yearend 1999. This stable macroeconomic environment, in which both inflation and unemployment stand at 3% or less, has made possible the relaxation of most of the capital controls imposed by the government in 1998 to counter the impact of the Asian financial crisis. Government and private forecasters expect Malaysia to continue this trend in 2000, predicting GDP to grow another 5% to 6%. While Malaysia's immediate economic horizon looks bright, its long-term prospects are clouded by the lack of reforms in the corporate sector, particularly those dealing with competitiveness and high corporate debt. Ethnic groups: Malay and other indigenous 58%, Chinese 26%, Indian 7%, others 9%. Religions: Islam, Buddhism, Daoism, Hinduism, Christianity, Sikhism; note - in addition, Shamanism is practiced in East Malaysia. Languages: Bahasa Melayu (official), English, Chinese dialects (Cantonese, Mandarin, Hokkien, Hakka, Hainan, Foochow), Tamil, Telugu, Malayalam, Panjabi, Thai; note - in addition, in East Malaysia several indigenous languages are spoken, the largest of which are Iban and Kadazan.

17 http://www.coursework4you.co.uk/essays-and-dissertations/pest-analysis.php

Literacy: definition: age 15 and over can read and write total population: 83.5% male: 89.1% female: 78.1% (1995 est.). Telephones: main lines in use: 4.4 million (1998) Telephones - mobile cellular: 2.17 million (1998) Telephone system: international service good domestic: good intercity service provided on Peninsular Malaysia mainly by microwave radio relay; adequate intercity microwave radio relay network between Sabah and Sarawak via Brunei; domestic satellite system with 2 earth stations international: submarine cables to India, Hong Kong, and Singapore; satellite earth stations - 2 Intelsat (1 Indian Ocean and 1 Pacific Ocean). Radio broadcast stations: AM 56, FM 31 (plus 13 repeater stations), shortwave 5 (1999) Radios: 9.1 million (1997) Television broadcast stations: 27 (plus 15 high-power repeaters) (1999) Televisions: 3.6 million (1997) Internet Service Providers (ISPs): 8 (1999) Merchant marine: total: 361 ships (1,000 GRT or over) totaling 5,000,706 GRT/7,393,915 DWT ships by type: bulk 61, cargo 119, chemical tanker 34, container 55, liquified gas 19, livestock carrier 1, passenger 2, petroleum tanker 57, refrigerated cargo 1, roll-on/roll-off 6, specialised tanker 1, vehicle carrier 5 (1999 est.) Airports: 115 (1999 est.) Airports - with paved runways: total: 32 over 3,047 m: 5 2,438 to 3,047 m: 4 1,524 to 2,437 m: 11 914 to 1,523 m: 6 under 914 m: 6 (1999 est.). Malaysia - PEST Analysis Answers Political Factors.

 Controls on immigration  A fairly new country formed in 1957 (Malaysia) and 1963 (Malay, Sabah, Sarawak, and

Singapore)  Parliament and hereditary rulers

Economic Factors.  Recovering from a very severe recession  High government spending  Very low inflation and unemployment  Favorable prediction for growth in the economy  Lack of corporate reform (high corporate debt and competition)

Socio-cultural Factors.  Mixture of Chinese, Indian, and Malaysian  Variety of religions  Low rates of literacy among women

Technological.  Good national and international lines  A variety of TV and radio stations  ISPs and airports available18

18 http://www.marketingteacher.com/exercise-pest-analysis/

S EEK A DV I C E F R OM A PP R OPR I A TE EX PER TS W HE R EV ER N EC ES S A R Y

IDEN TIF Y INTE RNAL AN D EX TERN AL SOURCES O F INFORM ATION RELEVA NT TO THE ORG AN ISATION' S MARKET, COMP ETITOR S, CUSTOMER B ASE,

VIS ION, VALUES AN D C APABIL ITIES

To understand what kind of environment the company may compete in the near future, it requires understanding of the forces that will shape the change. For a PEST analysis, that means conducting a scan of the external events outside of the company, such as potential regulatory issues, demographic trends, political upheaval, and cutting-edge technology that could move mainstream. In conducting the analysis, it may be essential to seek advice from experts or to look at periodicals, analyst reports, demographics, and any other sources of data that will give exposure to new trends and possibilities.

The type of expert advice that you seek will depend on the organisation or project you are working on. There are a variety of sources of expert advice that may be available both internally and externally to your organisation.

Expert advice may come from:

 Department managers – managers from other departments within the

organisation can provide advice and information regarding the specifics of

their area of the busienss. For example, the Financial Controller of the

bsuienss can provide advice on budgeting, the production manager can

provide advice regarding the production times for products.

 Industry analysts/Consultants – these individuals can provide information

regarding the industry trends, current and projected market conditions,

demographics, consumer expectations and technological influences.

 Financial analysts/Consultants 19 - Financial consultants can provide advice

on the financial structure of the plan and the influence that any of the PEST

factors may have on the organisation and the strategic plan.

 Government agencies – government agencies can provide information and

advice on the legislation and regulations that relate to their area of

19 http://www.coursework4you.co.uk/essays-and-dissertations/pest-analysis.php

government. They may also provide advice regarding grants, permits and

current and future requirements.

 Subject matter experts – this includes qualified professionals such as legal

practitioners, technology consultants, engineers, marketing experts, health

and safety experts, Accountants and tax professionals that provide advice on

specific areas.

There may also be other secondary data that can be used to provide information. This

might include:

 Newspapers, periodicals, current books

 Trade and Industry organisations

 Reliable internet data and information

 Government papers

OUTL INE THE LEGIS LAT ION, REGUL ATIONS AN D CODES OF P RACTICE RELEVAN T TO THE ORG A N ISATION ’S STRATE GIC PL AN

When developing your strategic plan, it is vital that you work within the legislation, regulations and codes of practice that are relevant to your organisation and the industry.

You may seek expert advice regarding this to ensure that you do not breach these. Some legislation you should work within may include:

 Australian Taxation Law - this determines the taxation requirements

including GST, Company Tax, Payroll tax and claimable expenses

 Health and Safety legislation relevant to your state - this legislation guides

your organisation to ensure that it operates in manner that provides a safe

and healthy work environment for all employees and clients.

 Health and Safety Regulations (2007) – as above

 Fair Work Act (2009) – this ensures that all employees are treated

appropriately about working conditions and remuneration

 Industrial Relations Act (1996) – this law ensure that all employees rights are

adhered to

 Federal Award Act (2003) – this ensures that your organisation meets the

minimum award rates of its employees

 Long Service Leave Act (1992) – this law ensures that all employees long

service leave entitlements are recorded and provided.

 Outworkers Act 2003 – the legal obligations for any contractors are met and

complied with.

 Equal opportunity Act (2010) – This law provides the obligations to ensure

that your organisation provides opportunities to its employees based on

appropriate factors.

 Competition and Consumer Act 2010 – This law replaces the Trade Practices

Act (1974) and it details obligations that your organisation must abide by

when providing products or services to consumers.

There may also be additional legislation, regulations and codes of practice that are industry or project specific.

You must seek expert advice to ensure that you are aware of this and include it in your strategic planning and implementation.

I DEN TI F Y A N D C ON S I DE R S TR EN GTHS A N D W EA K N ES S ES OF EX I S TI N G A N D P OT EN TI A L C O M P ETI TOR S A N D A L L I ES

An integral part of analysing the external environment is examining competitors and allies. Specifically, identifying and considering their strengths and weaknesses. An excellent and extremely useful tool to examining competitors/allies and identifying their strengths and weaknesses is a method of analysis know as, SWOT analysis. SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats.

OUTL INE S TRATEG IC PLANN ING M ETHODOL OG IES IN CLUD I N G POL ITICAL, ECON OMIC, SOCIAL AND TECH NOL OG ICAL (PEST ) AN ALYSIS AN D

STRENG THS, WEAK N ESSE S, OPPORTU NITIES AN D THREATS ANALYS IS (SWOT)

Well, the name says it all – Strengths, Weaknesses, Opportunities and Threats.

A SWOT analysis is aimed at guiding you to identify anything positive or negative within your organisation as well as external to it. This gives you a real situational awareness which is so important to the strategic planning and decision making process.

The SWOT method was originally developed for business and industry, but it is equally useful in the work of community health and development, education, and even personal growth. SWOT is not the only assessment technique you can use but is one with a long track record of effectiveness. It is commonly taught in higher education and used routinely in business.

A SWOT analysis can offer helpful perspectives at any stage of the strategic planning process.

You can use it to assess:

 Possibilities for new efforts or solutions to problems

 The best path for your initiative

 Where change is possible

 A company (its position in the market, commercial viability, etc.)

 A product or brand

 A business idea

 A strategic option, such as entering a new market or launching a new product

 An opportunity to make an acquisition

 A potential partnership

 Changing a supplier

 Outsourcing a service, activity or resource

 Your competition 20

SWOT also offers a simple way of communicating about your initiative or program and an excellent way to organise information you’ve gathered from studies or surveys.

A SWOT analysis focuses on the four elements of the acronym, but the format you use varies depending on the depth and complexity of your effort. The purpose of performing a SWOT is to reveal forces that work together and potential problems that need to be addressed or recognised by your organisation. Before you conduct a SWOT analysis, decide how you will lay out the information and communicate those issues important to you.

IN TERN AL & E X TER NAL EN VIRONMENT FACTORS

The aim of any SWOT analysis is to identify the key internal and external factors that are important to achieving the objective. These come from within the company's unique value chain. SWOT analysis groups key pieces of information into two main categories:

 Internal factors: The strengths and weaknesses internal to the organisation

 External factors: The opportunities and threats presented by the external

environment to the organisation

The internal factors may be viewed as strengths or weaknesses depending upon their impact on the organisation's objectives. What may represent strengths with respect to one objective may be weaknesses for another objective. The factors may include; product, price, place, promotion, personnel, finance, manufacturing capabilities, and so on.

20 http://swotanalytics.info/index.php/about-us/

Cast a wide net for the external part of the analysis. No organisation is immune to outside events and forces. Consider your connectedness, for better and worse, as you compile this part of your SWOT list. These are forces and facts that you do not control and the external factors may include; macroeconomic matters, technological change, legislation, and socio-cultural changes, as well as changes in the marketplace or competitive position.

In many ways, a SWOT analysis pushes you to think ‘inside the box’ by asking you to categorise with such simple terms. But the purpose of this information gathering is definitely to help you move outside the box of any constraints or limitations that may have hindered you before.21 22

Topics may be helpful or harmful to an organisation. For example, an organisations culture may be a strength, if it is a good culture, or a weakness if it is a negative culture.

The SWOT analysis can be laid out as follows and may include the following topics:

Helpful Harmful

Internal origin

Strengths Industry body or regulator support Cost factors Level of industry expertise Level of experience Low operational costs Low promotional costs Dedication of project team

Weaknesses Organisation size Team size and demands Level of bureaucracy within the organisation Negative organisational culture High operational costs

External origin

Opportunities Industry recognition Customer opportunities Industry growth Technology development Supportive government policies Economic growth Reduction in competition

Threats Duplication of services by competitors Change in relevant legislation Non-payment of invoices Sudden increase in demand Non-supportive government policy

21 http://trinitywebworks.com/blog/swot-analysis-overview.html 22 http://ctb.ku.edu/en/table-of-contents/assessment/assessing-community-needs-and-...

IDEN TIF YING THE IS SUES TO A D DRESS

Strategic issues and goals are usually identified near the end of the strategic analysis activity – which usually includes doing an environmental scan and SWOT and/or PEST analysis.

Identify issues by addressing questions such as:

 What external changes could affect the organisation?

 What could be the effects of these changes in terms of threats or

opportunities?

 What changes must we make to address the threats?

 What strengths can we build on to take advantage of the opportunities?

There are a number of approaches to identify and prioritise the issues that need to be addressed or strengths and opportunities to be realised. Some of these approaches may incude:

 Use a round-robin technique to collect and organise staff input

 Discuss each issue, whether it’s important or urgent or not. Often, issues seem

very important when they’re only urgent

 Facilitate to gain consensus on the top three to five issues and goals, and then

prioritise them. During this process consider the following:

o Issues and goals usually come from strengths to be built on,

weaknesses to be strengthened, opportunities to be taken, and threats

to be avoided.

o Many issues are based on gut feeling or intuition, rather than on

extensive external and internal assessments

o Issues that are too narrow do not warrant planning and issues that are

too broad will bog you down

o Deal with issues that you can do something about23

 Write down the issue articulating clearly so that is can be easily understood

by all stakeholders

23 http://managementhelp.org/strategicplanning/issues-goals.htm

A N A L Y S E OR GA N I S A TI ON ’ S S TR EN GTHS , W EA K N ES S ES , OP POR TU N I TI ES A N D TH R EA TS

As discussed in the previous section a SWOT analysis can be presented in many different formats, depending on the complexity and depth of analysis you wish to achieve. Below are some examples of different formats.

You might like to list internal and external factors side by side;

If a more formal structure is needed to help you work – grouping positives and negatives may work for you.

STRENGTHS WEAKNESSES OPPORTUNITIES THREATS

INTERNAL EXTERNAL

Positives Negatives

Strengths

Assets

Resources

Opportunities

Prospects

Weaknesses

Limitations

Restrictions

Threats

Challenges

Another option for laying out your SWOT is to lay out in a quadrant and then compare different areas.

STRENGTHS WEAKNESSES

OPPORTUNITIES THREATS

Threat-Weakness (TW) Strategies

Minimise weaknesses and avoid threats

Opportunity-Strength (OS) Strategies

Use strengths to take advantage of opportunities

Opportunity-Weakness (OW) Strategies

Overcome weaknesses by taking advantage of opportunities

Threat-Strength (TS) Strategies

Use strengths to avoid threats

C ON S I DER C OOPER A TI V E V EN TU R ES THA T A R E S U PPOR TED B Y R I S K A N D C OS T - B EN EF I T A N A L Y S ES A R E C ON S I S T EN T W I T H THE OR GA N I S A TI ON A L V I S I ON , MI S S I ON A N D V A L U ES A N D

PR OV I D E F OR DU E DI L I GEN C E A N D C HEC K THA T A N A L Y S I S OF I N TER N A L A N D E X TER N A L EN V I R ON MEN T I S C ON S I S TEN T W I T H

THE PER S PEC TI V ES OF OT HER I N F OR ME D P EO PL E

When analysing the internal and external environment, it is vital that any current or perspective co-operative ventures or strategic partnerships are analysed to ensure they are consistent with the organisations vision, mission and values.

The analysis should also ensure co-operative ventures will benefit the organisation in terms of risk and cost.

RISK AN ALYS IS

The results of the SWOT analysis can provide a strong basis for the risk analysis as it highlights many of the risks that the business or project faces both internally and externally.

Risk analysis is a three step process. These are:

Step 1 - Identify the threats

As explained above, this part of the process is completed during the SWOT analysis. The weaknesses identify internal risks and the threats identify external risks.

Step 2 - Estimate the risks

For each of the weaknesses and threats the level of risk should be estimated. This takes into account the probability or likelihood that the risk will occur and the level of the impact of the risk on the organisation or the project. Risk can be categorised into low, medium, high, severe or critical risks.

Step 3 - Manage the risks

There are number of ways to manage a risk. The ultimate option is the eliminate the risk all together, however, this is not often practical. Therefore, your risk management option should aim to reduce the impact on the organisation as much as possible. Some of the options are:

 Avoid the risk – this may be by not undertaking an action that has the risk

attached

 Sharing the risk – this may involve strategies such as insurance or cost

sharing

 Accepting the risk – the benefit may be worth the risk or the impact is

minimal.

RISKS AN D R ISK M ANAG EMENT STR ATEGIES REL EVAN T TO STRATEG IC PLANN ING INCLU DING INTELLECTUAL P ROPER T Y RIGHTS AND

RESPONSIB ILITIES , AND OTHER R ISKS

Intellectual property (IP) is the “property of your mind or propriety knowledge”. It may be an idea, an invention, a design, a brand or a trademark. IP Australia governs the IP rights within Australia. There are many types of IP. These include:

 Patent – this protects inventions or new processed

 Trademark – this protects logos, letters, colours, branding or any other

particular good or service of a trader that distinguishes it from competitors or

other traders

 Registered design – This includes the visual appearance of a design, but not

the way that it works.

 Plant breeder’s rights – this protects new plant varieties and the commercial

rights of the breeders.

 Geographical indicators – this identifies a particular area that a product

comes from. This is particularly relevant in the wine industry.

 Copyright – this includes drawings, music, literature, computer programs

where the owners expression of the idea is protected but not the idea

themselves. For example, a particular piece of art is protected but not the

style of art such as abstract.

The maximum possible protection period for commercial exploitation of Intellectual property rights is 20 years

When working with strategic planning, the Intellectual risks should be considered and managed including:

 Protecting the Intellectual Property of the organisation

 Ensuring that the organisation does not infringe another organisations

protected IP

This may be managed through insurance that will cover legal costs involved in enforcing protection of your IP and defending infringement claims made against your organisation. 24

Other risk will be identified in the SWOT analysis as explained above.

All risks should be managed using a strategy that involves the three step risk management processes outlined above.

COST BENEF IT AN AL YSIS

A cost benefit analysis is a systematic process to determine the benefits of a plan or project and compare them to the costs to identify whether to continue. The process of the cost benefit analysis involves:

 Identifying all costs associated with the plan or project – The costs may

include:

o Direct costs - costs directly associated with the actual plan or project

o Indirect costs – these costs are spread over a number of plans or

projects. They may include rent or utilities

o Intangible costs – these costs cannot be quantified directly. They may

include a loss in goodwill, or a drop-in employee motivation

o Opportunity costs – opportunity cost is the cost of an alternative that

has not been chosen.

o Cost of potential risks – this may include the impact of the risks and

the costs associated with minimising the risks

 Identify all the benefits of the project or plan – the benefits may include direct

and indirect benefits such as increase in revenue. It may also include indirect

24 https://ipaustralia.govcms.gov.au/

intangible benefits such as a positive organisational culture, increased safety,

increased motivation.

 Apply a common unit of monetary measurement is then applied to each of the

costs and benefits identified – care should be taken to ensure that a

conservative approach is adopted in this process. Intangible costs may be

difficult to place a monetary value on, so taking the analysis to a further level

will provide factors that can attract an estimate. For example, increase in

morale may lead to a reduction in staff absenteeism by one day per staff

member. This can then be calculated into a monetary value.

 Compare the total costs and benefits to identify if the costs outweigh the

benefits – this provides a final figure that will provide an indication of the

potential financial viability or success of the project or plan. 25

DUE D ILIGENCE

Due diligence involves a thorough evaluation of the information to ensure that all of the risks, costs and benefits of the plan or project are reviewed and considered in the decision-making process.

PERSPECTIVES OF INFO RMED PE OPLE

Once the analysis of the internal and external environment has been completed, all perspectives given on the environment should be checked against the opinions of other key stakeholders, both internal and external.

This process is valuable and can ensure that the information is correct, the experts have provided input, the information is clear and concise and that everyone understand the analysis and findings.

This is vital in ensuring the results of the analysis are accurate and do indeed reflect the overall perspectives of the industry sector and organisation

There are many ways you can conduct this check; you would need to evaluate what will work best for your organisation and external stakeholders.

25 http://www.investopedia.com/terms/c/cost-benefitanalysis.asp

T O P I C 3 - W R I T E S T R A T E G I C P L A N

WHAT IS A S TR ATEG IC PL AN ?

A strategic plan is a step by step guide, created by a business or organisation, to map out how it will reach goals, and set a foundation so the entire company knows what will happen and what is expected from them. Essentially, it provides a ‘recipe’ of how to achieve a stated vision, for the chosen target market, and how a company serves customers consistently, effectively and profitably every single time. The plan also serves as a systematic, management tool for problem solving, market planning, product development and preparing business plans. The goal is to integrate all aspects of the business’s activities in a mutually supportive system.

When everyone participates in the planning stages, especially for the strategic planning, all will work harder to carry out the plans and projects. Business owners can’t buy this kind of motivational interest. Likewise, business owners must be an integral part of such vital activities. Include a variety of people in an organisation to participate in any brainstorming sessions, including sales people, perhaps their best customer or other friendly ally, administration, engineering, marketing, finance, distributors and the owner. Five to eight people is ideal.26

26 http://www.answers.com/Q/What_is_a_strategic_business

DOC U MEN T R EL EV A N T R E S EA R C H A N D B A C K GR OU N D F OR I N C L U S I ON I N TH E S TR A TE GI C PL A N A N D F OR MU L A TE

S TR A TE GI C OB J E C TI V ES A N D S TR A TE GI ES N EE D E D F OR TH E F U TU R E A N D D E TA I L EA C H S TR A TE GY W I TH A N A S S I GN E D

PR I OR I TY , A TI M EF R A M E, R ES P ON S I B L E PA R T I ES A N D MEA S U R A B L E PE R F OR MA N C E I N D I C A TOR S

FIVE ELEMENTS OF A S TRATEGIC PL AN

The five elements listed below become the foundation of a workable and achievable strategic business plan;

 Vision

 Mission Statement

 Critical Success Factors

 Strategies & Actions for Objectives

 Prioritised Implementation Schedule

The strategic planning process explores essential questions about the purpose of being in business. Owners and employees must answer these essential questions and come up with a consensus on the answers. Answers to the following questions will help in determining the five important elements to the strategic plan. You may find the analysis gathered from the environmental scan - both internal and external – answer these questions.

 What is our vision?

 What do we do best?

 What is our business?

 What needs can we satisfy for customers that competitors cannot provide?

 What kind of image do we want?

 What do we want to be known for?

 What kinds of customers do we want to have?

 How big do we want to be?

 How many products/services do we want to have?

 What personal needs do we want to satisfy?

 What is our philosophy, ethical and social responsibilities, and values?

 What value do we want to have to our customers, suppliers and distributors?

 Where do we want to be in five years?27

BUILD IN G THE ELEMENTS

Vision: A brief statement describing direction and growth plans. Answers to the above questions will help you create your vision.

Mission Statement: A statement describing the important business capabilities, based on the customer's needs identified in the market research. The themes from the vision statement will help to form the mission statements for the business, and/or the problem or need to be resolved.28

Critical Success Factors: Key factors to address if a business is to achieve the vision and mission statement.

The critical success factors for your organisation might include:

 Achieving credibility

 Maintaining product quality standards

 Performing additional market research to stay in touch with customer needs

 Establishing internal and external communication standards;

 Profitability

 Establishing a continuous improvement policy for reviewing and evaluating

progress

 Buy-in from all levels of the company, which helps understanding and

acceptance through participation

 A financial plan that ensures enough cash flow and sales revenue to grow the

company effectively

 A plan to deal with downturns should they occur

Of course there may be many more that are relevant to your business but these will be for you to decide and would consistute many more pages if we to list every possible success factor that you could outline.

27 http://www.answers.com/Q/What_is_a_strategic_business 28 https://earlsbusiness.wordpress.com/2009/08/16/five-elements-of-a-strategic-plan...

After developing the list of critical success factors, you will need to review them for practicality and achievability.

Strategic objectives: A strategy is a definition of how the work will get done and by whom. Strategy planning may be completed in the large group, or by a team assigned to the objective. Break down each critical success factor objective or goal into a series of strategies for implementation, by priority. For each strategy, define the specific action plans or tasks required to implement.

Prioritised Implementation Schedule: Now that you have formulated the objectives and strategies you will need to prioritise the objectives and corresponding strategies/actions in order of importance.

Each strategy must have measurable performance indicators assigned. These performance indicators send a signal to the workforce every day as to how they should go about their activities to make sure they're in sync with where the strategic plan is trying to take the business.

Once priorities and performance indicators have been assigned, you will need to document a schedule. Your schedule should include the following;

 Start dates

 Milestone dates

 Anticipated completion dates

 Responsible parties/person

You may use a table such as the one below to outline your strategic plan.

STRATEGY 1

STRATEGY 2

STRATEGY 3

Timeframes,

Objectives

Performance indicators

Roles and responsibilities

Objective

Strategies

Priorities

Who is responsible

Resources required

What specific measures must be achieved

C I R C U L A TE S TR A TEGI C PL A N F OR C OMMEN T, S U PPOR T A N D EN DOR S EM EN T

Now the strategic plan has been written it should be distributed to key stakeholders in the organisation for comment, support and endorsement.

Depending on the size of your organisation you may need to devise a communications plan to ensure you communicate the initiative effectively and gain the support and or endorsement you may require.

COMMUN ICATIONS P LAN

The following is a broad list of the general sections of a Communications Plan. Not all sections are always necessary and you will need to determine what is right for your organisation.

 Context – what’s happened before? What’s the history?

 Environmental Scan – what are the key factors that will affect your success?

What is the media saying?

 Stakeholders – your stakeholders and their expected reactions. How you will

manage them?

 Objectives – what do you want to achieve? - should be clear, relevant,

measurable… use the SMART approach if you like

 Strategy – where are you going, and why?

 Audiences – who are the key audiences?

 Announcement – given the strategy, are you making an announcement? What

are you announcing?

 Messages – what are you saying about the announcement?

 Tactics – how will you implement your strategy, both before, during and after

the main announcement (assuming you have one)?

 Issues – what problems may you have to overcome?

 Budget – what will it cost?

 Evaluation – how will you know if you’ve been successful?

T O P I C 4 - I M P L E M E N T S T R A T E G I C P L A N

Once you have a finalised and endorsed the strategic plan for your organisation, it is time to implement and execute the plan.

In the following topics, we will look at the individual tasks/steps that are required to be completed to effectively implement a strategic plan. We will also look at monitoring progress of plan implementation and evaluating achievement of objectives and plan effectiveness.

The first stage of implementation is communication; we will look at this in the next section.

C OMMU N I C A TE S TR A TE GI C PL A N TO A L L R EL EV A N T PA R T I ES

In order to be put in action, the strategic plan must be communicated to a range of stakeholders. Strategic success comes not simply from crafting sound strategy and implementation plans. Both are essential ingredients, but results also come from effective communication of these plans.

To communicate your Strategic Plan, you will need to perform the following:

 Identify who the stakeholders are

 Decide what information each stakeholder needs to have

 Develop a communications approach for each audience

 Deliver Your Messages

 Verify That Your Audiences Understand Your Messages

 Reinforce Your Communication at Regular Intervals

You may use a communication plan similar to the one below:

Purpose Method Frequency Audience Message Evaluation of

communication

Documentation

Initial and

ongoing

provision of

information

Meeting Monthly All

stakeholders

Initial plan at

the first

meeting

Subsequent

meetings

include

progress of

the

achievement

of goals and

objectives

Gather feedback

from stakeholders

verbally via

feedback forms

regarding the

information

delivered at each

meeting. This will

include whether

they believe that

the strategic plan

and its progress

meet the needs of

the business.

Meeting agenda

Meeting minutes

Feedback forms

Updates and

queries

Email As required CEO and

department

managers

Incidental

information,

“good news”,

queries and

requests

Email platform

B R I EF PEOPL E W I TH A S PEC I F I C R OL E I N R EL A TI ON TO S TR A TE GI ES

Briefings, whether in the form of briefing notes, longer briefing papers, or oral briefings, are used to keep all stakeholders informed about the areas they are responsible for and the actions they need to perform. In some organisations, briefings are the principal means of communication between managers and their staff.

Individual stakeholders that play a specific role in the implementation of the strategic plan will need to be briefed regarding their role and responsibility. They need to have a clear understanding of:

 What their individual role is

 What the plan is going to deliver

 When it will be complete

 What work is required

 How the work will be done.

Depending on the organisation briefing stakeholders can actually be a secondary planning session where a work plan is devised. A work plan is a document which will lay out the work to be performed; it will detail method, effort, resources and cycle time that is needed to complete the objective/task.

U S E PER F O R MA N C E I N DI C A TOR S TO MON I TOR PR OGR ES S I N I MPL EM EN TI N G PL A N

KEY PERFORMAN CE IND I CATORS

Key performance indicators, also known as KPI’s or Key Success Indicators – KSI’s, help an organisation define and measure progress toward organisational goals.

Once an organisation has analysed its mission, identified all its stakeholders, and defined its goals, it needs a way to measure progress toward those goals. Key Performance Indicators are those measurements.

Whatever Key Performance Indicators are selected, they must reflect the organisation's goals, they must be key to its success, and they must be quantifiable or measurable. Key Performance Indicators usually are long-term considerations.

Many things are measurable. That does not make them key to the organisation's success. In selecting Key Performance Indicators, it is critical to limit them to those factors that are essential to the organisation reaching its goals. It is also important to keep the number of Key Performance Indicators small just to keep everyone's attention focused on achieving the same KPIs.

QUANTIFY ING KPI’S

If a KPI is going to be of any value, there must be a way to accurately define and measure it. For example, "Generate More Repeat Customers" is useless as a KPI without some way to distinguish between new and repeat customers. Then you need to set the target for the KPI. See below for an example of a good and bad KPI.

GOOD KEY PERFORMANCE INDICATORS VS. BAD

As you can see above there is a distinct difference between the two. The second option provides an actual target that is to be achieved. The first option is impossible to measure as there is no specific measurement or target for the KPI.

When monitoring the plan the KPI’s should be clearly defined and the progress toward achieving them measured regularly, and monitored to identify whether they are on track. In the above second example, the turnover is an annual target. This could be measured and monitored each month to identify whether the organisation is on target. If it looks like there has been no effect on staff turnover, then the business should be aware of this so that they can take action to rectify the situation.

BAD 

• Title of KPI: Increase Sales

• Defined: Change in Sales volume from month to month

• Measured: Total of Sales by Region for all region

• Target: Increase each month

GOOD 

• Title of KPI: Employee Turnover

• Defined: The total of the number of employees who resign for whatever

reason, plus the number of employees terminated for performance

reasons, and that total divided by the number of employees at the

beginning of the year. Employees lost due to Reductions in Force (RIF) will

not be included in this calculation.

• Measured: The HRIS (Human Resource Information System) contains

records of each employee. The separation section lists reason and date of

separation for each employee. Monthly or when requested by the SVP,

the HRIS group will query the database and provide Department Heads

with Turnover Reports. HRIS will post graphs of each report on the

Intranet.

• Target: Reduce Employee Turnover by 5% per year.

MA K E N EC ES S A R Y R EF I N EMEN TS TO PL A N

CHAN GING THE PLAN

There is always room for change and sometimes you may find that you will need to change KPI’s because they are set too high or low or they just have not been defined clearly enough.

Be sure some mechanism is identified for changing the plan and making any necessary refinements.

When making changes to the plan it is beneficial to record the following information:

 What is causing the changes to be made?

 Why the changes should be made? The ‘why’ is often different than ‘what is

causing’ the changes

 The changes made, including goals, objectives, responsibilities, performance

measures and timelines

This information is useful for a number of reasons:

1. Referring to the reason for the change

2. Identifying whether the change has achieved the required result

3. Lessons learned from the change

When you make changes to the plan the following actions are important:

 The various versions of the plan are noted – Always use a version control

number and date on each new version of the plan.

 The lessons learned are discussed and documented to make the next strategic

planning activity more efficient.

 All approval processes are adhered to

 Any required expert advice is sought to ensure that the changes are

appropriate

 Any required analysis is undertaken to confirm that the changes are viable for

the organisation

 Additional risks are identified and managed

 Changes are communicated to relevant stakeholders

EV A L U A TE A C HI EV EMEN T OF OB J EC TI V ES A T A G R EED MI L ES TON E S

There are some key questions that you should ask yourself while monitoring and evaluating the status of implementation of any plan. These primary question is:

 Are goals and objectives being achieved or not?

If the goals are being achieved then ensure that they are acknowledge, rewarded and communicated.

This may be done though acknowledgement in meetings, emails or updates. Acknowledgement and rewards do not have to be extravagant or costly. They may simply be a thank you or a small token of appreciation such as a team dinner or afternoon tea.

If the goals are not being achieved, then consider the following questions:

 Will the goals be achieved according to the timelines specified in the plan? If

not, they why?

 Should deadlines for completion be changed?

 Do personnel have the adequate resources – money, equipment, facilities,

training, etc. – to achieve the goals?

 Should priorities be changed to put more focus on achieving the goals?

 Should the goals be changed?

Answers to these questions will provide assistance in identifying the actions to be taken to ensure that the milestones are achieved as per the plan.

This may require an adjustment to the plan or further assistance or resources allocated to the achievement of the plan objectives.

FREQUENCY O F MON ITOR ING AND E VA L UATION

The frequency of reviews depends on the nature of the organisation and the environment in which its operating. The achievement of objectives should always be evaluated at the agreed milestones built into the plan.

Organisations experiencing rapid change from inside and/or outside the organisation may want to monitor/evaluate the implementation of the plan at least on a monthly basis.

When providing status reports on the progress of the plan you should consider the following:

 Boards of directors should see status of implementation at least on a

quarterly basis

 Chief executives should see a status report at least on a monthly basis

 Status reports should always be written,

 The report should describe answers to the above key questions while

monitoring implementation

 Trends regarding the progress – or lack thereof – towards goals, including

which goals and objectives should be outlined

 Recommendations about the status should be included to indicate that any

issues or slower progress is being rectified and managed.

 Any actions needed by management should be clearly identified

R EV I EW EF F EC TI V EN ES S OF PL A N A N D C ON S I DE R METHODS F OR I M PR OV I N G S TR A TE GI C PL A N N I N G PR OC ES S E S

REVIE WING THE SYS TEM

It is an unfortunate fact that in many businesses, all the hard work of developing a plan simply goes to waste. It achieves nothing because once created it is put on a shelf and left to gather dust.

It seems amazing to think of all that work and information simply going to waste, but it happens more often than you would expect. While identifying strategic issues is important – it serves little purpose unless the plan is actually implemented, monitored and evaluated, little change can actually take place.

Organisations tend to perform best when they are doing something they know and when they are utilizing new information and materials – reflecting on their use and using that information to gain competitive advantage. This is what the monitoring and evaluation process looks to achieve. By monitoring your organisation and continually evaluating its performance, you will learn much more than just placing a plan on a shelf and hoping for the best. Strategic plans are guidelines. They help guide your organisation toward the optimal result. Do not treat them as hard and fast rules – it is OK to deviate from the plan if required. What is important, however, is that you understand why the deviation occurred and why it was necessary to change course.

This information may provide you with improved methods for the strategic planning process in the future. Areas that may be improved in the future could include:

 Increased use of expert advice

 More conservative cost benefit analysis

 Increased allocation of resources

 Clearer objectives and KPI’s

 More thorough SWOT analysis and risk analysis

 More or less monitoring of the progress

RESPONSIB ILITIES F OR M ON ITOR ING AN D EVAL UATION

The strategic plan document should specify who is responsible for the overall implementation of the plan, and also who is responsible for achieving each goal and

objective. The document should also specify who is responsible to monitor the implementation of the plan and make decisions based on the results. For example, the board might expect the chief executive to regularly report to the full board about the status of implementation, including progress toward each of the overall strategic goals. In turn, the chief executive might expect regular status reports from middle managers regarding the status toward achieving the goals and objectives assigned to them. 29

In any case, it should be made very clear who has specific monitoring responsibilities and a reporting procedure should be clear.

29 http://managementhelp.org/strategicplanning/implementing-plan.htm

S U M M A R Y

Now that you have completed this unit, you should have the ability to develop and implement strategic plans.

If you have any questions about this resource, please ask your trainer. They will be only too happy to assist you when required.

R E F E R E N C E S

Applied Strategic Planning: How to Develop a Plan That Really Works by Leonard Goodstein

Simplified Strategic Planning: The No-Nonsense Guide for Busy People Who Want Results Fast by Robert W. Bradford

High Impact Tools and Activities for Strategic Planning: Creative Techniques for Facilitating Your Organisation's Planning Process by Rod Napier

Success Planning: A 'How-To' Guide for Strategic Planning by Rebecca Staton-Reinstein

Team-Based Strategic Planning: A Complete Guide to Structuring, Facilitating and Implementing the Process by C. Davis Fogg

Strategic planning http://en.wikipedia.org/wiki/Strategic_planning From Wikipedia, the free encyclopaedia

Management Library http://managementhelp.org/plan_dec/str_plan/str_plan.htm Strategic Planning (in nonprofit or for-profit organisations)

Strategic Management Journal http://www3.interscience.wiley.com/journal/2144/home

The journal publishes original material concerned with all aspects of strategic management. It is "devoted to the improvement and further development of the theory and practice of strategic management and is designed to appeal to both practising managers and academics."

Retail Research Group: University of Surrey http://www.som.surrey.ac.uk/research/groups/retail.asp

The Retail Research Group is part of the School of Management at the University of Surrey. It researches strategic and operational management and planning and policy issues relating to retailing and consumption.

Journal of Business Strategy http://www.emeraldinsight.com/0275-6668.htm

Published by Emerald, this journal was launched in 2003. They write, "The Journal of Business Strategy publishes articles with a practical focus designed to help readers develop successful business strategies.

Websites:

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"Mission, Vision &amp; Values: The Coca-Cola Company." n.d. Web. 25 Aug. 2015 <http://www.coca-colacompany.com/our-company/mission-vision-values>.

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"Section 14. SWOT Analysis: Strengths, Weaknesses ..." n.d. Web. 25 Aug. 2015 <http://ctb.ku.edu/en/table-of-contents/assessment/assessing-community-needs-and- >.

"Basics of Identifying Strategic Issues and Goals." n.d. Web. 25 Aug. 2015 <http://uwnns.org/sites/default/files/userfiles/file/Basics%20of%20Identifying%20>.

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IP Australia ." n.d. Web. 25 Aug. 2015, <https://ipaustralia.govcms.gov.au/>

Requirements.docx

Requirements

Font: Times New Roman

Size: Font size 12

7 APA Style reference and In-text citation

1000 words total (References are not included in the 1000 words, but only the answers)

Please look at your answers at https://www.homeworkmarket.com/questions/task-1-assessment for your reference. And also, look at Learner’s Guide.pdf

Because some of the answers are there.

1. Objectives – what are you trying to achieve in your business plan. Minimum of 6 targets (40 words)

2. Consult with stakeholders – how regular are we to consult and how to communicate with them, who are the stakeholders (30 words)

3. Required staff training – if we hire new people, what is our process? Induction training, what kind of training they need to work and have the new business plan work. We can talk about techniques (e.g. workshops, coaching, seminars, etc.) and timeframes (50 words)

4. Review of the market – what are the reasons why are we implementing the business plan now? What is the current market trend? We can list in the benefits on why we are proposing this new business plan (100 words)

5. KPI’s – explain the KPI’s of Sim’s Hardware (50 words)

6. Permits, licenses, insurances needed – Please show the document format of this, just like a normal document for permits, licenses and insurances. (Lets assume this as 100 words)

7. Communication plan table – need to show the table of internal and external communication process (50 words)

8. Timeframes – maybe we can use Gantt Chart? This is for the timeframe for the new business plan (make a Gantt Chart and look at your answer here https://www.homeworkmarket.com/questions/task-1-assessment for you to have an idea. (You need to make a Gantt Chart. For this Gannt Chart, let’s assume this as 100 words)

9. Systems to check Performance Measurement Systems Need to show or discuss what process, graphs, systems or tools to measure like variance analysis. Please make sure that you mention all this to your answer. (70 words)

10. Process for financial reports when are we preparing the reports? When do we lodge to ATO? Or when do we do audits? Annual board meetings? (50 words)

11. Process for reports when and how regularly are we sending out reports to the organisation? What reports are we going to show to the organisation? (50 words)

12. Process for report failure what are the tasks/actions if there are incidents, missed deadline for reports, etc.? what are the consequences and the resolution to address these consequences? (50 words)

13. Process to measure performance against planned objectives system on how to measure KPI, and what are the corrective actions. Rewards and recognitions can also be included in this. (50 words)

14. Process to review performance indicators and refine Just the process on how to review the KPI and how to improve it. Focus on the negative feedback since that one can be improved or maybe the way we are also training or working with the employees. Can be consultations? (60 words)

15. Process to ensure underperforming is picked up and coaching and training provided (50 words)

16. Review systems processes and work methods continuous improvement (50 words)

17. Conclusions (50 words)