D1.HCS.CL6.05 D1.HSM.CL5.06 D2.TRM.CL9.02 Slide 1.
Click here to load reader
-
Upload
baldwin-dalton -
Category
Documents
-
view
266 -
download
13
Transcript of D1.HCS.CL6.05 D1.HSM.CL5.06 D2.TRM.CL9.02 Slide 1.
DEVELOP AND IMPLEMENT A BUSINESS PLAN
D1.HCS.CL6.05D1.HSM.CL5.06
D2.TRM.CL9.02
Slide 1
Subject elements
This unit comprises four Elements:
1. Analyse the internal and external business environment
2. Formulate business plans and strategies
3. Implement the business plan
4. Monitor the business plan
Slide 2
Assessment
Assessment for this unit may include:
Oral questions
Written questions
Work projects
Workplace observation of practical skills
Practical exercises
Formal report from supervisor
Slide 3
Element 1:Analyse the internal and external business environment
Slide 4
Analyse the internal and external business environmentPerformance Criteria for this Element are:
Determine information requirements and undertake research to deliver relevant information
Consult with all internal and external stakeholders in the research process
Use research to assist in the prediction of social, political, economic and technological trends and developments
Identify and seek assistance and advice from appropriate experts when necessary
Slide 5
Analyse the internal and external business environmentPerformance Criteria for this Element are:
Review and analyse the existing internal resources and capabilities
Document and analyse business opportunities and obstacles based on valid and reliable comparative market information
Review and analyse current and emerging competitors for their potential impact
Slide 6
Business planning
A business plan
A business plan is a written document that presents detailed information about:
The business
Its projected plans and projections for the future
Slide 7
Business planning
Importance of a business plan
A business plan is the key formal document that sets out a total picture of how a business will operate
It helps to establish standards for measuring the success of all aspects of a business
Slide 8
Business planning
Basis of a business plan
The plan is based on:
An analysis of the business’ current situation
Forecasts of future trends within the relevant industry and economy
Includes results from research into all aspects of the business operation
Is a logical and structured document
Slide 9
Business planning
Purpose of a business plan
Preparation of a business plan:
Gives a sense of ownership and involvement in the future of the business
Ensures that the commercial directions planned have been tested for their viability in the marketplace
Slide 10
Business planning process
Business planning process
The planning consists of three activities:
Core business concept
Feasibility study
Business plan
Slide 11
Business planning process
Core business concept
Defines the essence of a new business idea:
What are the products and/or services your business will market?
What markets will you target with your products and/or services?
Slide 12
Business planning process
Feasibility study
In three steps, the feasibility study determines the initial viability of the core business concept:
Technical feasibility
Market feasibility
Commercial feasibility
Slide 13
Business planning process
Business plan
If the feasibility study indicates that the business concept is a viable proposition, a detailed business plan must be prepared
Slide 14
Research process
The Research Process
You need to undertake initial research to determine your idea is viable before progressing on to a detailed business plan
Slide 15
Research process
Five steps in the research process
Define the problem
Analyse the situation
Collect information and data
Interpret the information
Decide on a plan of action
Slide 16
Research process
Types of research
Research may include:
Interviewing colleagues and clients
Focus groups
Data analysis
Product sampling
Documentation reviews
Slide 17
Research process
Types of relevant information
Common types of relevant information may include:
Current performance data
Sales and contracts
Forecasted trends and opportunities
Available resource commitments and capacity
Slide 18
Research processSources of research information
Trade associations
Unions
Trade journals
Daily newspapers
Internet
Government departments
Local council
Friends, colleagues, business associates
Other associated businesses in the field
Slide 19
Consult with stakeholders
Importance of consulting with stakeholders
Who are possible stakeholders?
Why is it important to consult with them?
What do you require from them?
Slide 20
Key stakeholders
Types of stakeholders
Stakeholders may include:
Customers
Employees
Government agencies
Owners
Suppliers
Strategic alliance partners
Slide 21
Involving stakeholders
Importance of involving stakeholders
Communication throughout the planning, preparation and delivery of new concepts is vital to ensure that all stakeholders:
Are involved
Had the chance to contribute ideas
Provide feedback on initial concepts
Understand how concepts will affect them
How concepts interrelate or impacts other stakeholders
Slide 22
Conducting research
When researching information to help facilitate the business planning process, it is essential to collecting and analysing information in a wide variety of 'environmental areas' that may impact on an organisation in the future.
Information must ensure it not only explores:
External environment - what is provided or needed by competitors and the industry as a whole
Internal environment - what the organisation provides
Slide 23
Analysing the environment
Importance of analysing the environment
What do you want to analyse?
What information do you seek?
Where do you get this information?
Slide 24
Understand external environment
What is market analysis?
Market analysis provides us with the information necessary to understand what can cause changes in our operational environment
A prime intent of this activity is to gain a more insightful and detailed view of the organisation and where it sits in the overall business and other settings
Slide 25
Analysis of external environment
Analysis of external environment
Competitors
Economic climate
Customer preferences
E-business
Markets
Slide 26
Analysis of external environment
Analysis of external environment
Environment
Technology
Political issues
Legal issues
Social issues and trends
What other external influences exist?
Slide 27
Evaluating market trends
Types of information sources
Why is it important to understand trends?
Which trends and statistics are important?
How can you collect this information?
Slide 28
Evaluating market trends
Types of information sources
Colleagues, supervisors and managers
Representatives
Developing your own industry network
Conferences and seminars
Product launches
Trade magazines
Slide 29
Evaluating market trends
Types of information sources
Industry Publications
Newsletters
Brochures
Advertisements
Government bodies
Slide 30
Evaluating market trends
Types of industry statistics and trends
Types of tourism and tourism businesses
Types and demographics of customers
Top destinations
Hotel occupancy percentages
Reasons for stays
Current industry information
Destination countries
Departure months
Slide 31
Evaluating market trends
Types of industry statistics and trends
Length of stay
Type of organisation for the trip
Transport mode
Accommodation type
Expenditure
Popular tourist attractions
Tourism patterns
Technology
Slide 32
Customer demands
Impact of customer demands
What are common customer demands?
What influences customer demand?
Slide 33
Seeking advise from experts
Before you start your business it is advisable to consult as many organisations and persons that you believe can inform and assist you in your planning.
Why is this important?
What types of assistance and advice can be sought?
What are sources of assistance and advice?
Slide 34
Seeking advise from experts
Types of assistance and advice
Assistance and advice from appropriate experts may be sought for:
Collection and collation of facts and information
Review or verification of facts
Legal or financial advice
Ensure compliance of regulations and laws
Issuing of permits and licences
Strategic planning
Specialist skill sets Slide 35
Seeking advise from experts
Sources of assistance and advice
Local government agencies
Tourism associations
Non-government organisations
Media personnel including journalists
Copy writer
Professional research organisations
Solicitors
Slide 36
Seeking advise from experts
Sources of assistance and advice
Family
Existing employees
Your existing bank
Your accountant
Financial adviser
Your planning consultant
Your architect
Your local council Slide 37
Seeking advise from experts
Sources of assistance and advice
Your potential financier (if not your current bank)
Tourism agencies (local/regional/state)
Tourism operators
Shareholders/business partners
Customers
Suppliers
Neighbours and the local community
Slide 38
Analysis of internal environment
Once management have had a thorough look at the external environment, the focus must be internally focused
The internal environment is the environment within the business
Slide 39
Analysis of internal environment
Review internal resources and capabilities
Location including premises
Market share
Turnover
Profitability
Staff
Resources
Future potential
Slide 40
Analysis of internal environment
Internal considerations
Products and or services
Skill level of staff and management
Commitment to growth
Current market share
Level of debt
Slide 41
Analysis of internal environment
Internal considerations
Profit margins
Capacity to produce goods and/or services
Competition
Skills of the owners
Location of the business
Equipment
Slide 42
Analysis of internal environment
Organisational requirements
Access and equity principles and practices
Maintaining ethical standards
Meeting goals, objectives, plans, systems and processes
Legislated obligations
Slide 43
Analysis of internal environment
Organisational requirements
Management and accountability channels
Manufacturer’s and operational specifications
OHS policies, procedures and programs
Quality assurance and continuous improvement processes and standards
Slide 44
Analysis of internal environment
Types of resources
Resources can encompass:
Physical resources
Human resources
Financial resources
Intellectual property
Slide 45
Analysis of internal environment
Common resources
Location/premises
Occupational safety and health (OSH) resources
Plant/machinery
Raw materials – used to produce the products or service
Refurbishment requirements
Staff amenities
Slide 46
Analysis of internal environment
Common resources
Stock and supplies
Storage space
Technical equipment and software
Staffing
Training
Training materials
Slide 47
Analyse the environments
Analyse business opportunities and obstacles
How can you do this?
Slide 48
Analyse the environments
SWOT Analysis
Strengths – what the business does well
Weaknesses – what the business can improve upon
Opportunities – where the business can improve or take advantage
Threats – where the business may become disadvantaged, weakened or susceptible
Slide 49
SWOT Analysis
Strengths and Weaknesses
Finance
Production
Resources
Offerings
Marketing
Product life cycle
Business relationships
Relationships with customers
Personnel
Slide 50
SWOT Analysis
Opportunities and threats
Political considerations
Economic considerations
Social considerations
Technological considerations
Legal considerations
Environmental considerations
Slide 51
SWOT Analysis
Opportunities
New markets
New, up-dated or modified products or services
Occasions where new/higher prices may be charged
Problems being experienced by other providers which result in an opening for you
Closure of an opposition business
Fresh markets now available
Slide 52
SWOT Analysis
Threats
Introduction of new or more severe legislation
Opening of a new competitor
Worsening economic conditions
Staff shortages
Difficulty in obtaining physical resources
An unsettled domestic situation which scares off tourists
Negative comparative monetary exchange rates with countries who are major clients
Slide 53
Review current and emerging competitors
Importance of understanding competitive advantage
Why is this important?
How can you see what competitors are doing?
How can you create a competitive advantage?
Slide 54
Review current and emerging competitors
Review and analyse current and emerging competitors
Areas of review may relate to:
Volume
Price
Territory
Customer accounts
Trading terms
Market share
Customer satisfaction Slide 55
Current market situation
Market situation
Total market characteristics - size, growth, trends
Customer needs, perceptions and buying behaviour
Products - service characteristics
Prices
Customer service and distribution
Channels
Communication
Slide 56
Current market situation
Competitive situation
Industry structure
The geographic market in which they compete
Their current marketing performance
Their competitive position
Strengths and weaknesses, and vulnerabilities of each significant competitor
Their objectives and competitive strategies
Industry profitability
Slide 57
Current market situation
Product situation
For each product/service that the organisation offers, sales, profits, contribution margins and growth should be displayed
Product lifecycle and expected demand over the product’s life should be considered
Growth of the product/service should be contrasted to total market growth
Slide 58
Joint ventures and strategic alliances
Explore the potential for joint ventures and strategic alliances.
It may be that there is an opportunity for your business to form a joint venture or strategic alliance with another organisation
Slide 59
Element 2:Formulate business plans and strategies
Slide 60
Formulate business plans and strategiesPerformance Criteria for this Element are:
Create or confirm enterprise mission, vision and purpose as the starting point for the business plan in consultation with stakeholders
Establish realistic, clearly stated and measurable objectives for the business
Develop appropriate strategies and tactics to address objectives across all areas of business operation
Identify and include opportunities for strategic business alliances
Slide 61
Formulate business plans and strategiesPerformance Criteria for this Element are:
Develop all aspects of the business plan to ensure the business meets relevant legal, social, environmental and ethical obligations
Include appropriate action plans and evaluation processes, including key performance indicators
Consult with appropriate staff, management and other stakeholders to encourage support for the planning process so that all perspectives are taken into account in the development of the plan
Slide 62
Formulate business plan
Focus of business plans
The business plan may be for:
A new or existing small business venture
A division or department of a large organisation
A new product development initiative
Slide 63
Formulate business plan
Contents of a business plan
What needs to be included in a Business Plan?
Slide 64
Executive Summary
Business Profile
Your Products and/or Services
The Market
The Business Potential
Mission, Goals and Objectives
Strategies
Business Structure
Finance
Conclusion Slide 65
Business Profile
Business Name
Business Location/s
Business Activity/Activities
Business Objectives
Business History/Entry Strategy
Ownership Structure
Legal Requirements
Slide 66
Market Report
Industry Profile
Review of Existing Operation (if appropriate)
Your Product and/Service
Competition
Environmental Information and Trends
Slide 67
Marketing Plan
Market Segmentation
Your Customers
Target Markets
Strengths, Weaknesses, Opportunities, Threats Analysis
Key Issues
Slide 68
The Marketing Plan
Sales and Marketing Goals and Objectives
Value Proposition (Competitive Advantages)
Marketing Strategies
Pricing
Promotion
Sales and Distribution
Slide 69
Operational Plan
Premises, Plant and Equipment
Floor plan
Production
Purchasing
List of Suppliers
Stock levels
Purchasing Policies and Controls
Purchasing Controls
Break-even Analysis Slide 70
Finance Plan
Current Financial Position
Capital Requirements and Funding Proposal
Financial Budgets
Cash-flow Projection
Projected Statement of Financial Performance (Profit and Loss)
Slide 71
Finance Plan
Projected Statement of Financial Position (Balance Sheet)
Financial Ratios
Financial Controls
Business Insurances
Slide 72
Risk Plan
Risk Identification and Mitigation
What are different types of risks?
What needs to be considered?
What are the steps to reduce risks?
Slide 73
Structure and Management Plan
Organisational Chart and Structure
Key Personnel
Labour Requirements and Skills
Staffing Strategies
Professional Advisers
Staffing Controls
Slide 74
Strategic alliances
Identifying possible strategic alliances
Your industry association can provide substantial information, and through trade shows and networking you will meet other similar or allied businesses that lead to new and expanded operations.
How are suitable alliances in the tourism industry?
What makes successful alliances?
Slide 75
Meet legal requirements
Requirements and Obligations
Registration of Business Name
Business Licenses
Taxation Registration
Industrial Awards
Medical Insurance
Intellectual Property Registration
Other insurances
Pollution/environmental controls Slide 76
Action Plans
One of the key requirements of any business plan is to outline how the goals, objectives and strategies will be accomplished.
What actions need to be done
To what standard must it be done
What policies or procedures must be adhered to
Who is responsible for action
What tasks are associated with actions
Timelines for actions
Support mechanisms
Slide 77
Action Plans
Areas requiring action plans
Areas of business operation in the business plan should have action plans include:
Business establishment
Operations
Marketing
Technology
Human resources/labour requirements
Management and organisational structure
Financial plan and projections
Quality management Slide 78
Monitoring and evaluation
Monitoring and evaluation mechanisms
Evaluation processes may include:
Key performance indicators
Gap analysis
Customer feedback
Compliance reports
Employee feedback
Slide 79
Monitoring and evaluation
Key Performance Indicators (KPI’s)
Total number of customers
Total number of customers per department or market segment
Average dollar spent
Total revenue per capita
Sales per product group
Average sales per day’s trading
Slide 80
Monitoring and evaluation
Key Performance Indicators (KPI’s)
Average total revenue per client
Marketing expense per customer
Marketing expense and sales revenue per customer from a specific campaign
Total revenue / full time employee
Gross profit margin
Slide 81
Appendices
What documents go into the appendices?
Slide 82
Consult with stakeholders
Importance of stakeholders
What are examples of stakeholders?
Why involve them?
Slide 83
Element 3:Implement the business plan
Slide 84
Implement the business planPerformance Criteria for this Element are:
Communicate the business objectives and content of plans in a timely manner to facilitate a clear understanding of the plan and associated activities and individual responsibilities
Use appropriate leadership techniques to encourage team commitment to the business plan
Encourage staff to provide ongoing input into the business plan
Implement and organise actions detailed in the plan in a cost-efficient manner and in accordance with schedule and contingencies
Slide 85
Communicate business plan
Present final business plan to relevant stakeholders accurately
Once business plans, including objectives have been finalised, it is now time to present the final version to relevant stakeholders
Slide 86
Communicate business plan
Stakeholder considerations
Get a clear understanding of the business plan
Ensure that all key concerns have been considered
Understand the benefits of the business plan
Understand how the business plan will benefit them
Understand how the business plan will impact on them
Slide 87
Communicate business plan
Stakeholder considerations
Understand their role in implementing the business plan
Any potential problems identified
Have their concerns addressed
Be excited and reassured about the business plan
Slide 88
Communicate business plan
Types of stakeholders
Clients
Business partners
Colleagues
Staff
Event organisers
Sponsors from other companies
Superiors
Suppliers / vendors
Team leaders
Team members
Venue operator / leaser Slide 89
Communicate business plan
Communicate business plan information
Key vision of the plan
Reasoning or purpose behind the business plan
Background information
Business objectives
How the plan will be implemented
Roles and responsibilities of key stakeholders
Timelines
Support mechanisms Slide 90
Communicate business plan
Communicate information
How can you communicate information to:
Staff
Managers
Clients
Suppliers
Slide 91
Use leadership techniques
Leadership styles
The role of leadership is vital in ensuring that new business plans and the implementation actions associated with them are:
Understood by staff
Staff are motivated and committed to its success
What types of leadership styles are there?
Slide 92
Leadership styles
Autocratic and democratic leaders
An autocratic leader is one who centralises authority and relies only on legitimate reward and coercive power
A democratic leader delegates authority to others, encourages participation and relies on expert and referent power to influence others
Slide 93
Leadership styles
Charismatic leadership theory
The key characteristics of charismatic leaders are:
Self confidence
Vision
Ability to articulate that vision
Strong convictions about the vision
Behaviour that is out of the ordinary
Appearance as a change agent
Environment sensitivity Slide 94
Leadership styles
Transactional versus transformational leadership
Transactional leaders are leaders who guide or motivate their followers in the direction of already set goals by making them clear and explaining task requirements
Transformational leaders are leaders who inspire people beyond their own goals through individual consideration and charisma. They are capable of having a profound and extraordinary effect on their followers
Slide 95
Leadership styles
Additional leadership techniques
Have clear goals
Develop mutual trust
Encourage good communication
Provide internal and external support
Slide 96
Encourage staff to input into plans
Encourage staff to provide ongoing input into the business plan
How can a manager do this?
Slide 97
Encourage staff to input into plans
Methods to encourage staff input
Asking for ideas
Having an ‘open door’ policy regarding suggestions
Sharing ideas
Being prepared to test new ideas
Seeking information and ideas from non-traditional places
Slide 98
Encourage staff to input into plans
Methods to encourage staff input
Thanking people for their contributions
Taking the time and effort to explain to someone who contributed an idea why their idea was not implemented
Ensuring the person responsible for suggesting an effective new approach receives the credit for doing so
Slide 99
Implement action
Implement business plan actions
Now that business plans have been communicated with stakeholders responsible for its delivery, it is now time to implement any actions
Slide 100
Implement action
Implementation considerations
Compliance requirements
Occupational safety and health (OSH)
Legal liability exposure
Integration with other aspects of the business
Timing issues
Slide 101
Implement action
Implementation considerations
Resources
Changes to policies and procedures
Documentation and record keeping
Service delivery
Impact on organisational culture
Slide 102
Implement action
Implementation planning inclusions
Details of intended actions to be taken
Allocation of responsibilities for action to nominated persons
Determination of accountability for actions taken
Timelines for completion of nominated actions
Details of the budget and resources allocated
Description of monitoring progress
Details and timelines for reviewing progress
Slide 103
Implement action
Defining and assigning roles
It is important that everyone knows what is expected of them.
What do staff need to know?
How can they understand their roles and responsibilities?
Slide 104
Implement action
Identify predictable consequences of change
Disruptions to routine
Problems with timelines
Issues with reporting structure
Extra support required by employees
Slide 105
Implement action
Provide support and resources to support implementation actions
The aim is to enable staff to be able to learn and implement new changes into the workplace.
During this period, you must manage the twin functions of:
Task functions
Maintenance functions
Slide 106
Element 4:Monitor the business plan
Slide 107
Monitor the business plan
Performance Criteria for this Element are:
Review the business plan regularly and adjust in the light of changing circumstances
Monitor activities detailed in the plan on an ongoing basis
Identify and analyse successes and performance gaps on an ongoing basis
Implement agreed changes to plans promptly
Report performance in a transparent manner to all stakeholders
Slide 108
Reviewing business plans
Timing of business plan reviews
They may be based on:
Quarterly reviews
Business plan cycle
Performance reports
Major events triggering a review
Slide 109
Monitor activities
In order for an organisation to be successful in being able to provide the highest quality of service whilst still making an adequate financial return for investors, it is vital that every aspect of the operation is operating to the best of its ability
Therefore management must constantly assess and evaluate the performance of all areas that contribute to the functioning of the business
Slide 110
Monitor activities
In order to do this, activities must be assessed and evaluated to find out:
What is being done correctly
What needs improvement by:
Identifying problems
Understanding causes
Providing and implementing a suitable remedy
Slide 111
Monitoring and evaluation methods
Reports
Obtaining customer feedback
Using a pretend customer
Walking around and observing
Use of checklists
Brainstorming sessions
Staff input and review
Slide 112
Monitoring and evaluation methods
Observation
Statistical and written reports
Surveys
Checklists
Flowcharts
Benchmarking
Slide 113
Identify performance gaps
Compare what is happening against benchmarks
Comparing actual performance against key performance indicators and/or service standards set
Comparing actual performance against benchmark indicators, which can include industry indicators or performance levels of other branches
Slide 114
Comparison against KPI’s
Organisation’s key performance indicators
Organisation’s key performance indicators are a set of metrics which organisations can use to measure the success of business plan actions.
What are examples of KPI’s?
Slide 115
Comparison against KPI’s
Types of key performance indicators
Market share
Sales figures
Customer satisfaction
Growth
Profitability
Turnaround times
Output rates
Slide 116
Comparison against KPI’s
Types of key performance indicators
Quality rates
Customer feedback
Equipment usage rates
Lead times and down times
Compliments-complaints ratio
Customer Satisfaction Index (CSI)
Slide 117
Identify performance gaps
Types of performance gaps
Product or service failures
Long wait times for service
High volume of customer traffic
Inaccurate or conflicting information provided to customers
Lack of follow-up action by customer care representatives
Slide 118
Identify performance gaps
Types of performance gaps
Aggressive cross-selling or up-selling by customer service representatives or sales persons
Lack of resources required to implement service operations
Conflicts in priorities
Resource constraints
Lack of information
Supplier delays
Differences in opinion
Slide 119
Identify performance gaps
Types of performance gaps
Interpersonal conflict
Hazardous events
Time constraints
Electricity shortages
Bad weather
Shortfalls in expected outcomes
Poor staff performance
Slide 120
Implement agreed changes
Managers need to identify gaps and issues quickly and take appropriate action swiftly.
Failure to identify these can lead to:
Lack of repeat business
Damage to the reputation of the venue
General decline in sales and profit
Slide 121
Corrective action
Types of corrective actions
Quite simply, types of corrective actions taken to improve service operations may include:
Improvements in the design of products or services
Reviewing the allocation of resources for service operations
Tweaking standard operating procedures to improve efficiency
Slide 122
Initiate corrective action
Take appropriate corrective action
This involves making the necessary adjustments to improve the level of service, productivity or customer satisfaction
Depending on what is being monitored, involving staff in all or some stages of the monitoring process is likely to achieve better results
Slide 123
Initiate corrective action
Short and long term corrective action
Corrective actions taken within an operation workplace context can be seen as either:
Short term corrective action
Long term corrective action
Slide 124
Taking corrective action
Short term corrective action
It is sometimes necessary to take short term action to solve a problem until it can be looked at more closely and the problem dealt with more thoroughly.
Slide 125
Short term corrective action
Reasons for short-term action
Isn’t time to stop and analyse the problem more carefully and in more detail
To provide the necessary or expected services to the customer
To meet OHS requirements
To deal with a complaint
To get staff working together again
To give you time to analyse and work through the problem at a later date
Slide 126
Short term corrective action
Considerations for short-term action
Make a definite time to look at it more thoroughly later on
Decide who to involve in further problem solving
Inform staff and management it is a short term solution
Cost the implications of tackling the problem this way
Slide 127
Long term corrective action
Management changes
New management
Change in orientation to service
Setting of some new directions in relation to several other factors
New management focus
Slide 128
Long term corrective action
Organisational re-structures
Change of personnel structure
Elimination of positions
New job roles
Changes in job roles
New knowledge or skills
Slide 129
Long term corrective action
Introduction of new equipment
New equipment means:
Possible interruptions to operations for installation
Training for staff
Requires that staff can explain the new equipment to customers
Changes in job roles
Changes in procedures
Changes to workflow
Slide 130
Long term corrective action
Recruitment practices
Need to establish comprehensive job descriptions and job specifications
Seeking of new knowledge and skills
Change advertising strategy
Revised interviewing and selection process
Revised selection criteria
Slide 131
Report performance
Report performance in a transparent manner
Periodically, there will be a need for you to provide your team and management with feedback in regard to achievement or non-achievement of business plan initiatives
Slide 132
Report performance
Methods to sharing performance related information
Holding team meetings
Providing hard copy information
Sharing information via the intranet
Disseminating information at staff briefings
Slide 133
Report performance
Explaining performance related information
Explaining if your business plan strategy and effort work
Identifying the reasons why they work or not work.
Significant variations and the factors associated with the changes.
Unusual results and determine their causes
Slide 134
Report performance
Explaining performance related information
Patterns and trends in consumer behaviours, and the factors that resulted in those behaviours
Strengths and marketing opportunities
Weaknesses and potential areas of improvement
Impact / implications of the results and conclusions on performance
Slide 135
Report performance
Present recommendations for variation to business or operational plans
What are possible reasons for recommendations?
What information needs to be included in a recommendation
What are types of recommendations?
Slide 136