BSBMGT616 Develop and Implement Strategic Plans - Written Answers

This assessment task requires the candidate to answer questions related to strategic planning, risk management, and workplace safety. The output provides a summary of the questions and answers related to the assessment task.

Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
Written questions and
answers
Submission details
The assessment task is due on the date specified by your assessor. Any
variations to this arrangement must be approved in writing by your
assessor.
Submit this document with any required evidence attached. See
specifications below
for details.
Performance objective
The candidate will demonstrate the ability to describe the skills and
knowledge required to establish the strategic direction of the organisation,
sustain competitive advantage and enhance competitiveness.
Assessment description
In this assessment task, you are required to provide answers to the
questions asked. You may use additional documents as required.
Procedure
1. Read and understand the questions clearly.
2. Provide answers to the questions asked.
3. Give examples from your own experience as far as possible.
4. Submit all documents required in the specifications below to your
assessor. Ensure you keep a copy of all work submitted for your
records.
Specifications
You must:
● meet with your assessor to clarify any confusion
● provide answers to all the questions
● submit your notes and any additional documents.
● If you utilise material from published authors make certain that you
cite and reference appropriately. If you do not know how to reference
discuss this with your assessor. Plagiarism is unacceptable.
Your assessor will be looking for your ability to:
● consult and communicate effectively with relevant stakeholders to:
 confirm or revise the organisation’s mission, vision and values
 validate findings of research and analysis
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Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
 get input to and endorsement of strategic plans
 brief relevant parties about the plan
● analyse organisation’s internal and external environment to
formulate strategic plans including:
 background and research relevant to the plan
 legislation, regulations and codes of practice, including for
intellectual property
 objectives, strategies and priorities
 roles and responsibilities
 performance indicators
 timeframes
 consideration of co-operative ventures
 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.
Adjustment for distance-based learners
● No variation of the task is required.
● Documentation can be submitted electronically or posted in the mail.
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Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
Answer the following questions:
You are required to answer the questions given below. You may either use
the space being provided for your answers or attach separate answer
sheets as required.
1. What is the difference between a Mission Statement and a Vision
Statement?
A statement that defines the company or organization business, objective of
that business, and the approaches to reach that objective is called mission
statement. And the statement that defines the future position of the company or
organization which is desired by them is known as vision statement. This
statements defines the company goals, purposes and values.
2. What are the features of an effective vision statement? (List 4)
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Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
The features of a good and effective vision statement are as follows:
1. The vision statement should not be too long or too short, it must be short
, compact but effective as well. A good vision statement is about 35
words or two or three sentence long.
2. If a vision statement is clear with everyone then it will unite the
organization member and provide a stable and proper goal.
3. The vision statement will provide an abstract goal which was challenging
as well.
4. An effective vision states the purpose of the organization and also
describe the organization intends which they want to achieve in future.
5. A great vision statement always focused on future and sets a desirable
goals.
3. What specialist services could you utilise when developing a strategic
plan? (List 4)
The specialist service one can utilise while developing a strategic plan are as
follows:
1. The conditions of the market that has a impact on the growth
and also on service demand.
2. The service level targets which are very necessary to define and
meet the the customer satisfaction goals.
3. Planning for the finance of the organization.
4. Strategic planning for the development of the staff which was
done by training and workshops.
4. What is a PEST Analysis?
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Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
The tool which is used to assess the market before the launch of
a particular product or a business at a given time frame is called
PEST analysis. It stand for Political, Economical, Social and
Technological factors. Any business decisions is taken after these
factor factors are analysed by an organization. This PEST analysis
helps a organization in many ways and improve efficiency. It is also
similar to swot analysis which stands for Strength, Weakness,
Opportunities and Threats.
5. Provide 5 examples of each of the 4 PEST factors.
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Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
The examples of pest are as follows:
Political: Changes in government policy
Economical: changes in growth rates
Social: Changes in social trends
Technology: Technological advancements
6. Describe the following principles
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Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
(a) Equal employment opportunity
(b) Codes of practice
(c) National privacy principles
Equal employment opportunity: It is practice where employers do not engage in
employment activities which is not allowed or prohibited by the law. It is illegal
for any employers to distinguish between the other employees on the basis of
sex, religion, national origin, colour, age and race. This equal employment
opportunity ensure that every employees or job applicants have an equal and
same opportunity to grab a job or engage in the employment market.
Codes of practice: A practical guide which helps to achieve the standards of
health and safety which was required under the legislation is called code of
practice. Code of practice provide a effective guidance to the duty holder to
manage the safety risks and work health.
National privacy principles: There are ten national privacy principles which are
described in schedule 3 of the Privacy Act 1998 which any organization need to
handle the individuals personal information. The ten national privacy principles
are collection of personal information, use and disclosure of information, quality
and security of information, openness, access and correction, identifiers,
anonymity, transformer data flows and sensitive information like health, racial
or any criminal records.
7. In the state that you live in what is the name of the Act that
employees and employers must adhere to regarding workplace
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Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
safety?
The name of the act that employees and employers must adhere to regarding
workplace safety is Australia work health and safety act 2011.
8. What are WHS compliance codes? List 2 compliance codes that may
apply to your workplace.
In 2011 Australia develop a single set of WHS law for the safe work Australia
which has to be implemented across Australia. TheCommunicating occupational
health and safety across languages and Demolition apllies to the current wo
9. Outline a strategy that you could implement to interest people /
employees the companies risk management process. Be sure to
detail how you would maintain the currency of information provided
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Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
The strategy of implement interest on the people of the community and the
employes are very aggressive. It is very aggressively marketed at the nature of
the company. the risk management process is to be explained to very
individual working at the premises in the workplace of the company. it's very
important to know the aspects of the risk management process.
10.You are to detail how you would identify an intervention point for
expert risk management advice. Be sure to provide examples of
when you would seek expert advice, and who you would contact to
receive such advice.
The intervention point of the company for the risk management systems is, when the
company officials think the lower position of the company are not working properly and
not working upto mark in their positions. than the higher company officials should step in
inorder to find in a solution for the risk management process. The management advice
should be considered, without any distraction and should act positively.
11.Describe the steps you would take when implementing a risk
management action plan.
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Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
the steps required to take in implementation of the risk management systems plans are as
follows:-
 identify the risk : the company needs to identify the risk related to management
systems in the company.
 analyze the risk : once the risks related to the management are identified by the
company by the officials than the next challenge will be analyze the risk.
 evaluate the risk : the magnitude of the risk is the measured in this process and
the risk is measured more precisely in this process.
 monitor and review the risk : each and every risk is monitor and review the risk
analyzed.
12.Outline what should be included in an Intellectual Property Risk
Management strategy
the five main risks that affects the business are discussed as follows:
 financial risk.
 operational risk.
 managerial risk.
 employee risk.
 work health risk.
13.What are the 5 main risk types that face businesses
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Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
14.Following from the previous question, you are to provide an example
of a risk and a risk management strategy for each risk type.
Risk Type Example Risk Risk management strategy
Strategic
the correct strategy towards the
work approach should be very
important
the strategy should be a global
risk consideration.
Compliance
the rules, regulations and norms
of the company should match
which the government norms and
rules
the risk involved is exceed the
rule and norms of the limit
provided.
Operational the work operated is in the correct
manner.
all the work management is in the
correct way.
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Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
Financial the capital invested in the
company.
the risk managed is to not invest
in unwanted property.
Reputational the brand value of the company
to produce quality products in
order to stay in top companie
15.Why are values important to organisations
Values are important within the form because they help an organization to build up work
cultures and approach which helps the company to operate in the ma
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Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
16.Describe how you would determine the company values for a new
enterprise.
The company values will be determined on the basis of the work culture and vision which
the company has in order to operate within the market.
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Assessment Task 3 BSBMGT616 Develop and implement strategic
plans
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