Business Plan Analysis and Improvement

This assignment tasks students with analyzing a provided business plan. They must identify the plan's strengths and weaknesses across various aspects like operations, resources, sustainability, and legal compliance. Students are then required to propose improvements based on their analysis.

Business Plan summary
Current plan Review and revision comments
Business
Business name: BizOps
Business structure
Company
ABN: 55 555 555 555
ACN: 555 5555 5555
Business location:Sydney, NSW, Australia
Date established:1998
Business owner/s
SiimonGreig
NatushkaGreig
Devon Mersydale
Relevant owner experience
Siimon, Natushka and Devon have over 50 years combined experience in
manufacturing and retailing. Since starting BizOps in 1998, they have successfully
grown the business from a single shopfront to over 150 retail, online and phone
order outlets nationally.
The current structure of the organization is not up to the mark.
There can be implementation of few strategies and changes
that will help in introducing few other members in the
organization such as in the marketing and the human
resource department wherein proper requirements are
necessary for the proper growth of the company.
The products and services that are offered by the company to
the customers are up to the mark but there can be few other
changes that can be implemented in order to improve the
condition of the company
© Aspire Training & Consulting Page 1 of 13
Document date: July 2015

Business Plan summary
Current plan Review and revision comments
Products/services
BizOps retail outlets specialise in a range of exclusive products. The business
provides its customers with high quality and innovative products and services.
Wherever possible we provide our customers with a ‘green’ solution and service.
We employ sustainable business practices.
Market
Target market
BizOps customers include anyone seeking innovative, high quality, exclusive
products. Customers seeking a ‘green’ solution to their needs are especially
welcome.
Marketing strategy
BizOps employs a range of marketing tools including:
• magazine (electronic and print) presence
• an instore/online catalogue
• a corporate website with e-commerce function
• direct marketing to our existing customer base
• a loyalty reward program
• Trade fair participation.
The strategy of marketing has to be properly revised by
introduction of the different other stakeholders in the
organization as this will help in attracting more customers n
the future.
© Aspire Training & Consulting Page 2 of 13
Document date: July 2015

Business Plan summary
Current plan Review and revision comments
Future
BizOps is committed to:
• providing high quality and innovative products and services to customers
• meeting the changing needs of customers
• offering innovative product solutions
• delivering speedy and personalised service
• employing professional and enthusiastic staff
• providing clean and ‘green’ products and services
• adopting sustainable work practices
• Undertaking continuous improvement processes.
BizOps is known for its enthusiastic and inclusive culture. BizOps seeks to
maintain professional and well-supported staff.
This is essential for the respective company in analysing the
difficulties that are faced by the customers and this will help in
attracting different customers as well in the industry
Goals/objectives
In 2015–2020,BizOps will consolidate its position in the market as a lead retailer
for green and sustainable solutions for high quality exclusive products.
To do this, BizOps will focus on the following business goals:
[Performance measures for the introduction of the CRM
software, the production of the luxury hamper and the
mentoring program.]
• Financial stability:
- Increase revenue by 15% (compared to the previous 12 months) by the
end of the financial year
The stability of the market is strong financially and this can be
improved further with implementation of different strategies
that can help in increasing the profit as well.
© Aspire Training & Consulting Page 3 of 13
Document date: July 2015

Business Plan summary
Current plan Review and revision comments
- Maintain annual profit levels of 15% of revenue for all products and
services, calculated at the end of each financial year
- Reinvest 75% of profit back into the business at the end of each financial
year
The company has to change the investment policy in the
competitive market as this will help in maintaining the stability
in the future market as well.
• Market position:
- Maintain the number one rating in the annual national industry customer
service awards
- Launch new high quality, exclusive consumer products to meet customer
demand, ahead of competitors, within budget and by the agreed deadlines
There is launching of new products and services for the
customers but the steady growth has to be properly
maintained by the company and this will help in emphasizing
on the entire growth of the company as well.
• Right people:
- Provide induction training at the commencement of employment to train
new employees to be knowledgeable, helpful and enthusiastic
- Provide the financial, physical, human and time resources to support an
annual professional development program for all BizOps employees
The induction training that is followed by the company can be
modified a bit as by providing both practical as well as
theoretical training as this will help in proper professional
development of the employees as well as the customers
© Aspire Training & Consulting Page 4 of 13
Document date: July 2015

Business Plan summary
Current plan Review and revision comments
Finances
2015–16 2016–17 2017–18 2018–19 2019–20
Income 150,000,00
0
172,500,00
0
198,375,00
0
228,131,25
0
262,350,93
7
Expenditur
e 127,500,00
0
146,725,00
0
168,618,75
0
193,875,00
0
222,998,29
7
Profit 22,500,000 25,775,000 29,756,250 34,256,250 39,352,640
Reinvest 16,875,000 19,331,250 22,317,188 25,692,188 29,514,480
In the finance section, it is seen that there is increase in the
income as well as expenditure in the financial year 2017-18.
From the expenditure section, it can be reviewed that the
expenditure has to be reduced by the company as this will
help in investing more in the future dates.
Furthermore, there is huge increase in the amount of profit
and there is requirement for proper implementation of different
financial strategies
Organisation chart
See BizOps intranet for the latest organisational chart.
The organizational chart needs to include the proper financial
as well as human resource department as this is necessary in
order to improve the conditions of the organization. The HR
and marketing department is essential to take up different
responsibilities
Key personnel
Job title Name Skills
Chief executive officer Rose Hargreaves • 15 years’ financial experience in
the retail industry
• Qualified engineer
Top down approach has to be followed as this will help in
communicating with the employees
© Aspire Training & Consulting Page 5 of 13
Document date: July 2015

Business Plan summary
Current plan Review and revision comments
• Postgrad. in business law
• MBA
Managing director:
Financial operations Mike Booth
• 20 years’ accountancy
experience
• Qualified CPA
• Member of the National Institute
of Accountants
The side and top down approach has to be followed as this
will help in analysing the financial operations
Managing director:
Business operations Sean Bamford
• 15 years’ experience in a range
of retail and logistics businesses
• Bachelor of Science
• Postgrad. in supply chain
logistics
• Postgrad. in business law
The operations department should have proper bottom down
approach as this will help in managing the different queries of
the retail department
Managing director:
Retail operations Nancy Tooket
• 15 years’ experience in the retail
industry
• Bachelor of Design (Industrial
design)
• Advanced diploma of business
management
The retail operations should have bottom up approach as this
will help in managing the business
Managing director:
Human resources
Sayo Yoshida • 10 years’ experience in
recruitment and general HR
• Bachelor of Arts
© Aspire Training & Consulting Page 6 of 13
Document date: July 2015

Business Plan summary
Current plan Review and revision comments
• Graduate diploma of psychology
• Member of the Australian
Human Resources Institute
The HR manager has to properly implement different policies
for all the employees for their benefit
Products/services
Market position
BizOps offer quality, high-end, innovative and exclusive consumer products. We
provide a quality service to our customers, focusing on ‘green’ solutions. We
participate actively in trade fairs to ensure we have the latest high-end consumer
products available for our customers.
It is acceptable in nature and it is still providing quality
services to the customers
Unique selling position
Our distribution of retail outlets across Australia allows us to provide the personal
level of service customers expect with exclusive products, but we also provide
service through online and phone stores in each state. Our customer service is
knowledgeable and friendly. We reward our customers for their loyalty.
It is acceptable as the USP of the company is still the same
Anticipated demand
A large number of customers purchase our lower priced items, valued at $500–
750. We sell approximately 16,000 items in this price range every month across
our 150 stores. Our large corporate clients purchase on average twice a year,
spending approximately $10,000–15,000 per purchase. Our VIP individual
customers (approximately 1,000 nationally) purchase on average one larger/high-
There can be few changes that can be made by the company
as this can help the company in performing better in the future
© Aspire Training & Consulting Page 7 of 13
Document date: July 2015

Business Plan summary
Current plan Review and revision comments
end item per year and between 5 and 10 lower priced items. Their spend averages
to approximately $10,000 per annum.
Pricing strategy
BizOps applies standard industry mark-ups for lower priced items. Our high-end
items are often unique in the market and are priced accordingly, based on our
purchase price and understanding of the market.
It is acceptable in nature as it is working perfectly
Value to customer
BizOps’s individual customers view us as a destination for quality goods with a
‘green’ bias. Our corporate clients trust us to provide high quality products and
services that will perform above expectation and impress their clients. Our VIP
customers are discerning and rely on us to keep them up to date with the latest in
exclusive consumer products.
There has been change in the value to customers strategy as
the customers are the highest priority
Growth potential
BizOps is aiming for 15 per cent growth in revenue per annum. This growth will
come in part from technology improvements and innovation resulting in better
products with a lower impact on the environment. As this happens, our
environmentally conscious customers will want to upgrade their products. Growth
will also occur naturally as the population in Australia continues to increase and
accumulate more wealth. The home is one area that Australians take great pride in
furnishing and exclusive products are increasingly sought after.
It is acceptable in nature
© Aspire Training & Consulting Page 8 of 13
Document date: July 2015

Business Plan summary
Current plan Review and revision comments
Insurance
BizOps holds current workers compensation and public liability, product liability,
business asset and business revenue insurance. The company accountant holds
all details.
Insurance is mandatory in nature as this will help in for
providing proper security to the health of the employees in the
entire organization
Risk management
See BizOps intranet for the current risk-management procedure.
Proper risk management strategy has to be adopted by the
respective company by shifting the demand of the customers
and implementation of the technological advancements as
well.
Legal considerations
The following list is current at time of publication and is not exhaustive. Key
provisions of relevant legislation from all forms of government, standards and
codes include those related to:
• anti-discrimination legislation
• AS 5037:2005 Knowledge management –- a guide
• AS/NZS ISO 31000:2009 Risk management
• Australian Accounting and Auditing Standards
• Australian Securities and Investments Commission (ASIC) requirements
• Australian Taxation Office regulations
• certified and workplace agreements
All ok and there is no requirement of revision
© Aspire Training & Consulting Page 9 of 13
Document date: July 2015

Business Plan summary
Current plan Review and revision comments
• codes of practice
• company law
• contract law
• copyright
• corporations law
• duty of care
• employee contracts
• enterprise agreements
• environmental issues
• environmental or sustainability legislation, regulations and codes of practice
applicable to industry and organisation
• ethical principles
• federal and state/territory awards/use of Wageline
• financial legislation
• freedom of information legislation
• fringe benefits tax (FBT)
• Higher Education Contribution Scheme (HECS)/Higher Education Loan
Programme (HELP)
• Pay as you go (PAYG) tax
• payroll tax
• privacy laws and confidentiality
© Aspire Training & Consulting Page 10 of 13
Document date: July 2015