Cosmetic Medical Industry and Beauty Industry Assignment
Added on 2019-10-18
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TUTORIALACTIVITY WORKBOOKWORKBOOK 1 BUSINESS PLANNINGOn completion of Tutorial Activities for workbook 1 Business Planning, please email directlyto your Lecturer/Assessor. This workbook containing Activity 1 to 12, must be completed, as an essential component ofyour assessment plan, and is required to be completed before you sit your final examassessment.Each short answer has a suggested word limit, which is indicative of the length of each shortanswer you are to provide.Please note that areas in green are for assessors onlyNo part of this workbook may be reproduced by photocopying or any other means without written permissionfrom the Australasian Academy of Cosmetic Dermal Science.
AACDS WORKBOOK COVERSHEETPlease submit to your AACDS lecturer.Student’s NameUnit 1.4 Practice Management and Administration Course(Please select)10510NATAdvanced Diploma of Cosmetic Dermal Science 52709WAGraduate Diploma of Cosmetic Nursing 52707WAGraduate Diploma of Dermal Therapies AACDS ASSESSMENT POLICYAssessments Marked “Competent” or “Not Yet Competent”:1.Must be completed by the due date specified in the student manual for each corresponding unit.2.If a student fails to meet the due date as specified, this may incur additional fees to extend unit access. 3.If a student consistently achieves “Not Yet Competent” and demonstrates poor performance inall assessments, AACDS reserves the right to terminate the student’s enrolment for the corresponding unit.Graded Assessments/Exams: 1.Must be completed by the due date specified in the student manual for each corresponding unit.2.A student will have the opportunity to resit a failed assessment, however on the second attempt the pass mark will increase by 10%.1.If a student fails on the second attempt, the student must re-enrol into the failed unit at the current full-feeGRA DE (IFA PP LICA BLE): Competent Not Yet Competent Please Resubmit this Assessment by: 22 Feb 2017ASSE SSME NT FE E DBA CKFRO M LE CT U RE R: A FA IRSU BMISSIO N. YOUHA VESHO WNUNDE RST A NDINGINA RE A ST HA TDONO TINVO LVEMU CHRE SEA RCHO RDA T A. HO WE VE R, YO U RLA CKOFFA CT S, FIGU RE S, A NDINDU ST RYRE SE A RCHH A SLE TTH ISDO WN. P LE A SERE VIE WA LLCO MME NT SA NDRE SU BMITA CT IVIT Y 1, 2D, 3B, 3C, 7A - B, 10B BU SINE SSSY ST E MSA ND 10C, A CT IVIT Y 11 AND 12.AUSTRALASIAN ACADEMY OF COSMETIC DERMAL SCIENCE ©2016Version 2.0 2Niche/AACDS/Curriculum/Unit 1.4 / Assessments/Workbooks/Workbook 1
COMP LE T IO NOFA LLTU TO RIA LA CT IVIT IE S: Yes NoRE CO MME NDAT IO NT OSITFINA LE XA M Yes NoASSE SSO R’S SIG NA TU RE:DA T E:AUSTRALASIAN ACADEMY OF COSMETIC DERMAL SCIENCE ©2016Version 2.0 3Niche/AACDS/Curriculum/Unit 1.4 / Assessments/Workbooks/Workbook 1
ACTIVITY 1INDUSTRYIn this activity students are required to investigate and conceptualize the beauty industry ingeneral and the various segments within the industry. The cosmetic medical market is a significantgrowth sector within the beauty industry and is an emerging market globally.Students will need to research and review various market reports to then describestatistically ‘the beauty industry’, ‘the cosmetic medical industry’ in their own terms.Students should also demonstrate that they understand what is meant by ‘spa therapies’and ‘dermal therapies’ and ‘cosmetic medical treatments’ and how each relates, andprovide a demonstrated understanding of concepts of ‘a market’, ‘an emerging market’ and‘an industry’, within their answers.a)Compare and Contrast: Yes NoThe beauty industry and the cosmetic medical industry (100 words)The beauty industry is constructed upon various beauty products to assist in making human being look better than they perceive to be. It is a diverse market from makeup, to hair colour, to perfumes e.t.c. It ranges not just from salons but also barber shops, massage parlours and much more.The cosmetic medical industry however is the fastest consumer market in Australia. It usually looks like an industry with high barriers while in actual fact there are high entrants with many consumer risks that cause the industry to be regulated. This brings opportunity for interested parties.- You are missing vital researched industry data and statistics to compare and contrast the two industries such as market trends, industry values and spending trends etc. According to the reports, it has been observed that the interventions of the cosmetics are a great business in the Australia worth $3.6 billion in the year 2016 as compared to $2.3 billion in the year 2011. The cosmetic medical industry is being regulated by the General council of medical. Whereas, the beauty industry is contributing billions to the economy of the Australia. The beauty industry has a great business of worth $12 billion and is expected to grow by 10 percent in the year 2019 (Research, Care & Trends, 2017).Beauty therapies (spa therapies) and cosmetic medical dermal therapies (50 words)Beauty therapists can be either aestheticians or aestheticians. In Australia the general term of Beauty Therapist is used for anyone who is certificate approved or diploma qualified. Cosmeticmedical dermal therapies treatments are designed to maintain the results of skin form aging fast and this is achieved by cosmetic medical, surgical and regenerative dermal therapy treatments. AUSTRALASIAN ACADEMY OF COSMETIC DERMAL SCIENCE ©2016Version 2.0 4Niche/AACDS/Curriculum/Unit 1.4 / Assessments/Workbooks/Workbook 1
Non-invasive, minimally invasive and invasive cosmetic medical procedures (50 words)Non- invasive procedure is the treatment of conversation which doesn’t need incision in the body along with the tissue’s removal. The minimally invasive procedure of medical is being defined as single which is being carried out after entering into the body through cavity, skin or the opening of anatomy but, the damages are small to the structures. Further, in the invasive procedure of medical in which the body is entered with the help of a needle, device or tube (Levy, L. L., & Emer, J. J. 2012). Hence, all the three terms are practically not same at all.Non-invasive and minimal invasive procedures are practically almost the same. - they are not. Non invasive does not penetrate the skin at all. skin peels and micro would fall here as well as general beauty therapy. Injectables are minimally invasive. Please refer back to your lecture notes for the clear definitions. These involve mild improvement of a person’s appearance by the use of Botox, resurfacing the skin, various treatments for cellulite with minimal side effects. Invasive cosmetic procedure involves risky medical procedures such as bleaching the skin or laser removal that have high risks and can ca result to permanent damage if not done properly.b)How would you assess the beauty industry in Australia, if you were to advise whether you think it is worth entering into as a new business? What industry statistics can you point to so asto support your advice? (100 words) Yes NoThe beauty industry in Australia is highly uneven, with a large number of small, independent operators. There is therefore a low level of market share concentration. Some chains exist within the industry, but typically of no more than two or three shops. Several franchises have also emerged recently, with the trend expected to continue. The four largest industry players hold an estimated combined market share of less than 10%. The main factors that contribute to low market share concentration are low barriers to entry, little regulation and licensing, and the relatively small capital outlay required to commence operations. According to the reports, it has been observed that the beauty industry is contributing billions to the economy and it is expecting to expand more in future. But, due to monopoly and the low entry barriers it will be difficult to enter the market of beauty industry. Below given are the companies of the beauty industry which holds the market share in the year 2016.AUSTRALASIAN ACADEMY OF COSMETIC DERMAL SCIENCE ©2016Version 2.0 5Niche/AACDS/Curriculum/Unit 1.4 / Assessments/Workbooks/Workbook 1
Source: (Cosmoprof.com 2017)Data and stats plus references to research reports? Assessor’s comments You are missing vital researched data and stats as requested for this question. Please research these and include in your answers as all of this is nice, but has no facts included that are demonstrated.AUSTRALASIAN ACADEMY OF COSMETIC DERMAL SCIENCE ©2016Version 2.0 6Niche/AACDS/Curriculum/Unit 1.4 / Assessments/Workbooks/Workbook 1
ACTIVITY 2ENVISIONINGStudents need to demonstrate understanding of the difference between ‘vision’ and ‘mission’ andbe able to draft personal and professional vision and mission statements. Personalising anunderstanding of vision and mission enhances its conceptual application. Students are required todraft business vision and mission statements for the hypothetical medispa business in Assessment2 – the business plan of this unit. The envisioning activities are also used to assist students inchoosing a business name for the virtual medispa. Learners are expected to use the ASIC Connectwebsite to check business name availability.a)What is the vision and mission of a business? (100 words) YesA mission statement is not the same as a company's slogan, which generally serves as marketing tool so as to grab attention quickly. The mission statement is also not necessarily the same as a vision statement, which defines where exactly one intends for the destination of their company. One may include the mission statement in their business plan but it is not a substitute for the plan itself. It's also important to remember that a mission statement is not permanent. As a company evolves over time, its mission and intent may also change. A mission statement will keep a company on track, but it shouldn't become stagnant. b)Write a personal vision and mission statement for yourself (think of your personal life and yourcareer). (50 words each) YesVision statement-My vision is to be a prolific and honest, project leader with the aim to be recognized internationally within my industry. I am committed to growing as a leader and delivering value added projects to the end users. In addition to this I am committed to getting my master and doctoral degree in the long run.Mission statement-My mission is to create and lead a skilled and dynamic team so as to enhance the business that willin the long run become a household name. Tapping into a specific segment market and specializingin at least two products and services is what I aim to achieve with the efforts implemented accordingly.c)Write a business vision and mission statement for a hypothetical medispa (refer to the fact scenario in Assessment 2 – Business Plan).YesVision statement- (50 words)AUSTRALASIAN ACADEMY OF COSMETIC DERMAL SCIENCE ©2016Version 2.0 7Niche/AACDS/Curriculum/Unit 1.4 / Assessments/Workbooks/Workbook 1
In the next five years, this Medispa will be highly recognized as a recognized beauty therapy clinic where customers of all ages will prefer being taken care of. Working with and amazing and skilled team of about 50 people this company is expected to reach great heights in a short period of time.Mission statement- (50 words)My mission is to help people of all ages and race to transform the way they look and enhance theirbeauty of which most are not aware of. This business stands to impact people’s lives positively so as to make their world a better place.Assessor’s comments A good demonstration of the understanding of the vision and mission statements.AUSTRALASIAN ACADEMY OF COSMETIC DERMAL SCIENCE ©2016Version 2.0 8Niche/AACDS/Curriculum/Unit 1.4 / Assessments/Workbooks/Workbook 1
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