Manage Knowledge and Information

This document provides a comprehensive guide on managing knowledge and information. It covers topics such as business plan, strategic objectives, market analysis, marketing strategies, and more.

MANAGE KNOWLEDGE AND
INFORMATION

TABLE OF CONTENTS
TABLE OF CONTENTS................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Business plan...............................................................................................................................1
Strategic Objectives.........................................................................................................................1
Values..............................................................................................................................................1
Operational Objectives....................................................................................................................2
The Market.......................................................................................................................................2
Situation Analysis............................................................................................................................2
Marketing Strategies........................................................................................................................3
Briefing Report..........................................................................................................................3
Business Performance..................................................................................................................3
Financial Forecasts......................................................................................................................4
Review of Staff Feedback............................................................................................................5
Review of Customer Feedback....................................................................................................5
Business problems or issues........................................................................................................5
VET Information.........................................................................................................................5
Trend Analysis.............................................................................................................................6
Data Storage.................................................................................................................................8
Sensitivity analysis......................................................................................................................8
Validity and reliability of sources of data....................................................................................8
Risk Management........................................................................................................................8
Financial Data............................................................................................................................9
Profit and Loss.........................................................................................................................11
Finance policy and procedures......................................................................................................12
Staff survey results....................................................................................................................12
Students feedback......................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
King Edward VII is a college operating since year 2015. College is base in Melbourne and i
having additional campus in the Sydney. College offers range of management courses, such as
marketing, management, human resources and the international business. This is currently
having 195 student enrolled in both the campuses. Company is planning to open campuses in
other regions that are Brisbane and Adelaide. The report will provide about the proposed
expansion plan of college in Brisbane and Adelaide. Report will provide about the detailed
analysis about the scope and objective of expansion. This will analyse the current performance of
the company the company and future forecasts. It will provide the college with the forecasts for
coming two years based on the previous analysis of the college. It will also cover the
communication plan and the policies and procedures regarding the business.
MAIN BODY
Business plan
Mission: The key mission of the King Edward VII College is to provide students with various
educational programs which will help student to attain higher career goals by setting a realistic
career path.
Vision: The key vision of the King Edward VII College is to provide diverse and inclusive
education system which results in lifelong learning and development of the economy.
Goal: The key goal is to establish King Edward VII College across various places in the world in
order to impart quality knowledge to students.
Strategic Objectives
1. To establish and focus on imparting high quality education services to students with wide
range of education courses and programs.
2. To be well led, high performing, profitable and accountable college.
3. To develop high edge infrastructure and advanced technology which supports students
and staff.
4. To establish college across various part of the globe in order to impart quality knowledge
to students.
Values
The core values underpinning King Edward VII College are:
 Sustaining excellence in providing educational training and core assessment techniques.
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 Embrace diverse culture, ethics and dignity.
 Demonstrating integrity and equality to all the students within educational institute.
 Promote technology innovation across various education programs.
 Providing engaging and caring infrastructure.
 Focuses on imparting career path to student and gaining excellence.
Operational Objectives
2019 Priorities Key performance indicators
Jan-
March
To improve the website application in
order to attract large number of students
from across the globe.
15% increase in the number of
students by August 2020 and also
improve the market share by 7%.
April-
June
Commencing complete investigation
associated with new campuses in
Brisbane and Adelaide. Also, evaluating
the number of staff required for the new
campus.
Staff will be recruited and the location
will be effectively evaluated and
researched.
July- Sept Undertaking study scoping for possible
off-shore campus and will also carry out
internal annual audit.
Continuous measure for the
improvement will be analysed.
Oct- Dec Reviewing the performance of the staff. All the staff performance will be
carried out till Dec 2020.
The Market
Market characteristics & conditions
King Edward VII College will carry out its operation in Brisbane and Adelaide. The target
market will be the people of all demographics who are aged between 18 to 38 years and want to
gain high degree of knowledge related to the specific educational program (McKenzie, 2015).
Situation Analysis
Strengths Weaknesses
 Providing high quality educational
services.
 Clear understanding of requirements of the
student.
 Providing with high quality assessment
and learning materials.
 Capability to adapt to the changing market
 High investment associated with the
outlay in Brisbane and Adelaide.
 High staff turnover within college.
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requirement.
 Complying with the practical set of the
laws and policies.
Opportunities Threats
 High capability to establish college in
different countries to gain higher market
share.
 Catering large students from across the
globe.
 Providing wide set of educational courses.
 Potential to apply for Government
funding.
 Frequent change in the government
norms, regulations and legislations.
 High level of competition within
education industry.
Marketing Strategies
 Use of the social media platforms such as Facebook, Instagram, YouTube, Twitter, etc.
are effective platforms which helps in telling people about the range of educational
programs and services which has been offered by the King Edward VII College.
 King Edward VII College must focus on developing a website which helps people to get
access to all the range of information and also apply for the particular college directly
(Liu, 2017).
 Use of traditional marketing techniques like word of mouth marketing, print media
advertisement, etc. helps in making people aware about the range of educational
programs and services which has been offered by the King Edward VII College.
Briefing Report
Business Performance
Business performance is the analysis of profit and loss statement of the company of the
last three year that are 2016, 2017 and 2018. The profit or loss statements provide the company
about the exceptions that were made in statements. In the year 2016 there was variation in profits
of 20% due to lower number of actual students from the expected. While in the year 2017 no
exceptions were seen in the profit or loss statement for the year. This requires the business to
have the business opportunities. Costs were expected to rise by 10% in wages and rent. The
report provides regarding the rent and wages (Konstantinovskiy, 2017). Rent is not increased as
the lease is taken for the college premises and is therefore same in all the three years. Wages will
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be increasing with the requirements of new staff with the increase of 10%. The above exceptions
do not conflict with the actual figures of the statements.
Financial Forecasts
Forecasting process requires the business to have the forecasting process that requires the
business. College has made the forecast about the future years seeing the trends of previous
years. The assumptions regarding the futures periods and expansion plan are made as follows
 Wages and salaries to rise with the number of staff recruiting with increase of 10%.
 Rent of the premises to be constant over coming three years.
 All the other costs will increase by 10%.
External business trends in education sectors are showing growth of 35% and the college is
showing a growth of more than 50% with the increase in students. Also the expansion plan of the
college will be further increasing the profit levels keeping the costs at controllable level.
Forecasts is made on the basis of previous trend and ma rket analysis.
Forecast for 2019
Net sales $26,40,000
Total expenses $14,81,150
Profit or loss $11,58,850
Forecast for 2020
Net sales $50,88,000
Total expenses $16,29,265
Profit or loss $34,58,735
The forecasts for the year 2019 and 2020 is provided where year 2019 is contains the
forecast without including the new units established in Brisbane and Adelaide. They are included
in the forecast made for the year 2020. It is expected that the revenues of the existing units will
increase to 2.64 million by 2019 and the expenses by 1.48 millions. Likewise the revenues are
calculated for the year 2020 considering new units (Hooker, 2018). It is expected that by
reaching the expected level of students it will be earning revenues of 5.08 million with increase
in students and the expected total expenses of 1.62 millions. Costs will not rise with the same
proportion as that of revenues due to being educational students.
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Review of Staff Feedback
From the staff feedback it is reviewed that the employees are satisfied of the performance
of the business. This makes them motivated for the business opportunities that could be achieved
for the growth and success of the business. Staff requires management to establish effective
communication channel which could be used for accessing the management directly for any
concern or issues.
Review of Customer Feedback
Customer feedback is highly positive. They are highly satisfied from the products and
services offered by the company. They also look forward to make further shopping which helps
in improving the outcomes.
Business problems or issues
Business problems are the problem that could affect the growth and success of proposed
business expansions. Edwards College could face issues related to the staffing problems for
administering the college and the required number of faculties. The pricing strategy of the
college may not be successful as per the market trends of the region in which it is planning to
expand. Internal issues of the teaching faculties may affect the business and cause the students to
divert from the college to their competitors (Urbina, 2018). The increase in competition can
affect the business of the college. It might not be able to get the expected level of students that
are required for covering the costs of units. Tough competition to the existing colleges is the
major challenge and also to get the market acceptance at the current pricing strategies.
VET Information
The information regarding the expansion plans is gathered from different network groups.
Analysis of the information gathered from different sources has been made for making the
business plan of expansion to Brisbane and Adelaide.
Formal networks
Formal networks includes the groups and people that are directly associated with the
college. The information has been gathered from the staff members of the college that are having
knowledge of the study pattern followed in the regions. Other groups is of students that are
studying in college but belong to the regions of expansion. They have provided the demand and
requirement of the course in those cities. Analysis has been made from the information gained
from these formal networks.
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Informal Networks
On the informal group contains the people and society residing giving the information
about the existing colleges. Another is the friends of teachers and college management that
provide about the trends of education in their region and the courses that could prevail in that
region (Wu, Yan and Zhang, 2020). The information gathered has been used to determine the
number of students that the college can have in its initial year. This was essential for determining
the revenues.
Trend Analysis
Trend analysis shows the growth of the college in the last three years. It could be seen
that the sales and profits figures have grown with double the previous year figures. The college is
becoming popular and the marketing strategies are helping the college to grow with tremendous
speed. College is gaining trust of the students and society by providing quality education to the
students. Seeing the huge acceptance in the existing regions company has planned to expand the
college units on other regions. It is expected that it will also gain the same level of acceptance
due to the demand of people. On the other also if the college do not gets required acceptance the
profits will not go into negative even when the expansion units suffers loss in its initial year.
However, this may affect the image of the college affecting even the existing sales level.
Trend line of sales
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Trend line of Profits
Decision Process
Decision process includes the procedure to be followed before the investments proposal
is implemented. Before the investments are required to be made the expert analysis regarding the
effects and benefits of the projects in the monetary are required to be presented. The reports are
inspected by the management and required are changes are made analysing the cash flows that
could generate, time required for covering the costs and costs required for carrying out the
expansions plans. After the proposal is approved by the management it is presented before the
board of directors of the college for final review (Verger, Moschetti and Fontdevila, 2018).
Once the directors are satisfied with the proposed investments plan they approve the investment
proposal and give orders for implementation of the same with further directions.
Compliance
The expansion plan will be made in compliance with the existing objectives and
procedures of the college. The objective of the Edward College is of providing quality education
to the students that are admitted in the college. To consider ethical approach in doing business
and educating children. The education provided to the students should add value to their
personality and knowledge that will help them in their professional career. All the rules and
regulation framed by the educational institutions and the statutory bodies will be complied by the
college timely.
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Data Storage
Data storage is one of the major statutory requirements that is required to be complied
with the college. College will be having centralised access system that will allow the college to
access the information regarding the college at whole across all the campuses to the authorised
person, there are number of solutions available for centralised data storage. College is planning
to use one from the following two options that are Enterprise Date Warehouse & Data Lake. This
allows to access the data from anywhere with wide storage. This will ease the sending of reports
to head office from other units.
Sensitivity analysis
Sensitivity analysis provides the options if the expansion plan does not provide to be
successful. If the existing teaching faculties do not get positive reviews, it will be hiring the
tutors of already established college by paying them at higher than existing scales. If the prices
of the course are not accepted, discount of 20% will be given to attract new students. This will
help in bringing the profit levels to budgeted figures.
Validity and reliability of sources of data
The data used in the plan is taken from the statutory educational institutes that keep
records of all the students and the analysis of the students that are studying in specific steams of
educations. Other college has made previous marketing and positive response were analysed
from the students and parents. This has provided the college to make much reliable information
as the analysis is not based over assumptions that can have major variations affecting the existing
business of the college. The sources from which the information is gathered are government
departments and are therefore more reliable as well as valid.
Risk Management
Educational institutions also like other business risks that may affect its future growth
and expansions plan (Tanaka, 2018). College has identified the risks related to the expansion
plans and also the risk mitigating activities and measures.
The potential risks that college may face are :
 Website accessibility – College may face difficulty in having the accessibility of college
online portals. This is based on the networking and servers that can affect the studies.
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 Cyber and Privacy liability – Colleges and educational institutions are also required to
comply with the cyber security requirements. Non compliance of which can cancel the
registration.
 Finance risks – Difficulty in getting finance
 Compliance risks – Educational institutions are required to comply with various
regulations.
 Reputation risks – The image of college once destroyed can require to suffer losses
Risk mitigation strategies
 Best of the networks service providers will be implemented
 Enhanced cyber security systems will be established with authorised access.
 Other risks will be managed by taking legal advice and providing quality education.
Financial Data
Actual Student numbers: 2016, 2017 and 2018
Campus 2015 - 16 2016 - 17 2017 - 18
Sydney 40 62 86
Melbourne 40 65 100
College is currently having cost of 10000 per student in both the colleges. The charges of
the course will be increase to 12000 from the next year in 2019. Same price will be charged in
the college of Brisbane and Adelaide.
Course cost
Current 10000
Increase 12000
Number of students are also increasing every year there would be increase in the number of
students from the current levels of students.
Expected student numbers for 2019 – 2020:
Campus 2018 - 19 2019 - 2020
Sydney 100 150
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Increase in students
2016-17 58%
2017-18 46%

Melbourne 120 180
Adelaide 44
Brisbane 50
Total 220 424
It is expected that the current level of total students would be increased to 220 in 2019
and adding Brisbane and Adelaide it will be increasing to 424 in 2020. Variation of 10% is
expected in the expected figures.
Administration Costs
Expenses 2016, 2017, 2018
Campus 2016 2017 2018
Sydney $351,225 $405,675 $6,23,250
Melbourne $391,225 $445,675 $7,23,250
Above are the administration cost of the College of running the two units in Sydney and
Melbourne. The administration costs will be rise every year due to the increasing rate of
expenses. There is increase of 15% in 2017 and 58% in year 2018.
Increase in costs
2016 to 2017 15%
2017 to 2018 58%
Expected costs for 2019 – 2020
Campus 2018 - 19 2019 - 2020
Sydney $6,85,575 $7,54,133
Melbourne $7,95,575 $8,75,133
Adelaide $430,000
Brisbane $430,000
Total $14,81,150 $16,29,265
College expect the administration costs to increase by 10 % in 2019 and 2020. The increase is
made after considering the costs of new units also. In the first year bot the units are expected to
have similar costs.
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Profit and Loss
Financial forecasts is made about the expected incomes and expenses of the college for
the coming two years. Forecast of the year 2019 does not include the new units as they are
expected to start in the year 2019-20.
Profit and loss statements of 2019
Forecasted Profit & Loss FY2019
Sales
Income from courses $26,40,000
Net Sales $26,40,000
EXPENSES
Electricity and gas $16,301
Internet $6,818
Office supplies $6,440
Rent $4,40,000
Stationary $4,528
Wages and salaries $8,85,915
Superannuation $84,125
Travel and accommodation $15,460
Water $10,127
Work cover insurance $11,436
TOTAL EXPENSES $14,81,150
Profit or Loss before Tax $11,58,850
Profit or Loss statement of 2020.
Forecasted Profit & Loss FY2020
Sales
Income from courses $50,88,000
Net Sales $50,88,000
EXPENSES
Electricity and gas 7560
Internet 271
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Office supplies 2714
Rent 620000
Stationary 3005
Wages and salaries 940630
Superannuation 38189
Travel and accommodation 6331
Water 6009
Work cover insurance 4556
TOTAL EXPENSES $16,29,265
Profit or Loss before Tax $34,58,735
Finance policy and procedures
Petty Cash Policy: This policy is considered to be very useful in establishing the proper
utilization and administration of the funds within petty cash.
Business Credit Card Policy: The employee is issued credit card. This policy is very
prominent in determining the guidelines associated with the use of credit card business
(Limkriangkrai, Koh, and Durand, 2017).
Financial modelling: King Edward VII College tends to support various range of financial
models which helps in forecasting the finances of the college. Benchmarking and preparation of
the budget plan are considered to be as the key sources which helps in performing each activities
in a systematic and timely manner.
Staff survey results
Here, after conducting analysis and review staff survey outcomes there are some staffing
problems identified that may be impact negatively in the future progress and success. While
working in college staff faces issue such as lack of training and poor communication between
workers & management. Without getting training they are unable to serve its best as it impact on
productivity and performance of workers. Along with this problem, individual faces another
issue due to lack of communication. Employees are unable to communicate with their senior
regarding issues they faces while working in company. Without effective communication
between management and others organization was not be able to create positive work
environment at workplace that is important for business growth. Too much work also put high
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pressure on employee as it decreases productivity and motivational level rather than before. All
these issues may impact on current as well as future growth.
Students feedback
In context of consumers or students feedback, it can be said that people are feeling happy
and enjoy their time in college, most students have fun and spent great time. The environment
around workplace or campus is quite positive. Employees are very friendly and serve with smile
that creates positivity. According to student’s feedback, teaching staffs were good, they help in
completing college assignment. They always ready to support student’s and give appropriate
guidance for better personal and professional career. But on the other hand, teaching staff was
not enough to teach learners that will impact on future growth.
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REFERENCES
Books and Journals
Konstantinovskiy, D.L., 2017. Expansion of higher education and consequences for social
inequality (the case of Russia). Higher education. 74(2). pp.201-220.
Hooker, S., 2018. Forging Regional Connections: The Role of a Community College in High
School Transformation. The Central Ohio Partnership for College and Career Readiness
Expansion. Jobs for the Future.
Urbina, D.R., 2018. Intergenerational Educational Mobility During Expansion Reform: Evidence
from Mexico. Population research and policy review. 37(3). pp.367-417.
Wu, L., Yan, K. and Zhang, Y., 2020. Higher education expansion and inequality in educational
opportunities in China. Higher Education. pp.1-22.
Verger, A., Moschetti, M. and Fontdevila, C., 2018. The Expansion of Private Schooling in Latin
America: Multiple Manifestations and Trajectories of a Global Education Reform
Movement. The Wiley Handbook of Global Educational Reform. pp.131-155.
Tanaka, M., 2018. Private and vocational high schools within the expansion of secondary
education: A case study of Korea. In High school for all in East Asia (pp. 112-131).
Routledge.
McKenzie, D., 2015. Identifying and spurring high-growth entrepreneurship: Experimental
evidence from a business plan competition. The World Bank.
Liu, Z., 2017. Teaching reform of business statistics in college and university. EURASIA Journal
of Mathematics, Science and Technology Education, 13(10), pp.6901-6907.
Limkriangkrai, M., Koh, S. and Durand, R.B., 2017. Environmental, social, and governance
(ESG) profiles, stock returns, and financial policy: Australian evidence. International Review of
Finance .17(3). pp.461-471.
Online
[Online]. Available through : <>.
[Online]. Available through : <>.
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