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Business Plan Assignment: Review

   

Added on  2020-05-28

3 Pages945 Words84 Views
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ASSESSMENT 2Business Plan reviewFast Track Couriers operates from New South Wales and delivers packets across metropolitanSydney which is handled by a small but highly experienced team and deliveries are taken care ofby drivers. The organization has a strategic goal of growing business and profits from it in comingthree years by expanding the routes of delivery by including NSW. The plan identifies specificbusiness objectives of the expansion and these include development of capabilities to makedeliveries to NSW region in next 12 months and increase the company sales by 40% in comingthree years. The business expansion plan identifies the steps that the company would take to achieve theseobjectives and that include installation of truck devices and purchase of new fleets of 10 newtrucks with installed devices that would allow only one driver to take care of loading, unloading,and transportation thereby reducing per truck driver needs as well as allow company to remainupdated with the transit information. The business plan clearly states the steps as well as a planfor mitigation of any risks. It also identifies the budget requirement of the project and forecaststhe impact of change on the company in next one year. However, the objective of 3 yearsforesight has not been achieved. However, the plan lacks certain success criteria required for agood expansion business expansion plan such as the plan fails to cover some importantelements of the expansion planning such as timelines consideration, resource requirements, andsuccess criteria of expansion, resource requirements, and ways driver’s resistance to newtechnologies would be addressed.Key performance ObjectivesThe key objectives to measure performance of the business expansion plan include:Assure that the expansion can achieve all the desired objectives and meet the businessneeds of the project sufficientlyIdentify the timeline requirements of the expansion projectEnsure that the company stands ahead in the competition with proper benchmarksexceededEnsure that needs of all major stakeholders are taken care of in the expansionPerformance Measurement systemsFollowing methods would be used for measuring the performance of the expansion plan:Acceptable Variances and dealing with failure: The project of expansion should have clearbudget and schedule for truck purchase and device installation that should not be exceededbeyond a limit. The expansion should not take more than 5% of the total calculated expenses.
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