BSBMGT616: Detailed Strategic Plan for Canterbury Renovations

This report presents a comprehensive strategic plan developed for Canterbury Renovations, a start-up company in the renovation business. The plan begins by establishing the company's vision, mission, and core values, emphasizing quality service and customer satisfaction. It includes an analysis of competitors, identifying strengths and weaknesses, and a detailed SWOT analysis to assess internal and external factors. The report further examines the internal environment, highlighting key departments and their contributions, followed by a PESTEL analysis to evaluate political, economic, social, technological, environmental, and legal factors. The research and background section emphasizes market research, customer preferences, and leadership considerations. Strategic objectives are formulated, focusing on workforce development, revenue growth, and business expansion, with specific strategies, priorities, timeframes, responsible parties, and performance indicators outlined for each objective. The plan also addresses due diligence and stakeholder involvement, ensuring a robust and well-considered approach to strategic planning, and the report concludes with a call to action to implement the strategic plan.

Running head: BUSINESS PLAN
Business Plan
Name of the Student:
Name of the University:
Author Note:

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BUSINESS PLAN
Assessment 1.
You are to develop a detailed strategic plan for the company, ensuring that you
Confirm your business or organisations vision and mission:
Canterbury Renovations is a start-up company that provides services in the areas of
Melbourne and the surrounding areas and in the areas where the average value of the houses are
$600.000.
The vision statement of the company is to benchmark all other renovation companies that
is involved in this business. The aim of the company is to provide the quality service with their
best equipments and raw materials. The company’s aim is also to provide these services at the
best price and delivering the service within the stipulated deadline. The mission statement of the
company is to perform for the customers and provide them with the best quality and competitive
prices by maintaining high level of professionalism, honesty and integrity.
Include relevant organisational values:
The renovation companies usually fail to deliver the projects on time and not for achieving
the expectation of the clients but the Canterbury Renovations do not follow this and maintain the
time limit and provide the service to the customers according to the need of the customers. Their
value is to support the vision of the company and help in shaping the organizational culture. The
company also aims at maintaining the principles, philosophies and beliefs of the company. These
core values of the company help in the process of decision-making and educating the potential
customers and the clients about the identity of the company.

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Identify and consider strengths and weaknesses of existing and potential competitors and
allies:
The company has many competitors as the real estate market of Melbourne at present is
really strong as the prices of the houses are regularly increasing and thus the company is
focusing on the market condition of the place. The strength of the companies is that they have
higher availability of resources and already has a brand image in the market. They have a high
level of proactivity, assertiveness and resilience. They pursue well-defined actions and have
strong knowledge about the market. The companies already have an effective and productive
team for their real estate business. The weaknesses of the companies are that they lack in the
process of training and social abilities. They do not have proper organizational policies and go
through too much stress and difficulties to execute the strategies of the business. The companies
fail to motivate their staffs and also have huge gap in the leadership style of the organization.
Analyse organisation's strengths, weaknesses, opportunities and threats through a detailed
SWOT analysis:
Strength:
In this company, all the operations of the projects are supervised by the owners who has
huge experience in this area.
Weakness:
The owners hire builders who has less knowledge and experience in that field which in
turn degrades the quality of service. As the company is comparatively new, they do no have any
previous client or any previous projects to show to the customers as a demo.

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BUSINESS PLAN
Opportunities:
The company can establish their business by making partnership with the various real
estate companies and this way they will be able to explore the marketplace and increase the
number of clients.
Threats:
The company has many competitions in the market who had already established their business
and thus they have the chance of losing their potential clients to the already existing companies
and lose their business in the market.
Analyse both the internal and external environment including political, economic, social
and technological developments globally:
Internal environment
The internal environment is very important, as the company would need to optimize the
same to perform in accordance of the required standards. It is important to optimize the internal
factors such as the workforces and the technological aspects that are much importantly in context
of the business of the organization. The internal factors include the HRM department, the
resource procurement teams, the production team and the management. The strengths are
dedicated staffs, technical proprietor’s competence, financial resources, etc. Some of the
important weaknesses are lack of management skills, no business records of accomplishment and
inefficient equipment. These departments would need to work effectively towards creating a
better internal environment for the organization. It is important that this environment is fostered
further to create a better more effective organizational system.

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PESTEL
Political- Politically, Australia is a country that contributes greatly towards ensure the safety and
security of the businesses that are present in the country. Australia does not have very hard
requirements when it comes to renovation business standards. The government form is
constitutional monarchy with the laws designed to facilitate businesses of the country. Strict
government regulations do not affect renovation business in the county. The political
environment is stable.
Economic- Australia is a growing economy. It is the 13th largest world economy at the time. The
present company tax rate in the country are 30%. As the Canterbury renovations have a present
aggregate turnover of less than 25 million AUD, a lesser tax rate of 27.5% can be applied for.
The economy has a healthy growth rate of 2.4%. This can help in the further growth of the
companies as the economy as a whole would benefit.
Social- The social structure of Australia is very good in terms of wealth distribution and standard
of life. The country is also very much improved in terms of health and education. It is a
multicultural society, where a large number of people that are actually very interested in
renovating their homes. Kitchens, bathrooms and laundry areas are some of the most important
areas that are renovated by large number Australians. This
Technological- The latest in technology is available in the country. This means that there would
not be any significant problems faced by the organization if they want to use the latest in
renovation equipment. The country is adding technology faster than many other nations. The
home mapping software and similar resources would be easily available.

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BUSINESS PLAN
Environmental- Environment wise Australia is diverse with large wealth of flora and fauna and
some of the unique ecosystems in the planet. However, it is also one of the driest countries.
Hence, the renovations that are made need to be done considering the same. Environment
friendly equipment and fluids need to be used.
Legal- The employees of the country would come under the Fair Work Act of 2009. The country
has fair trading laws, consumer and competitor laws. This would be the most important laws that
can affect the business of the Canterbury renovations. This would be important to develop
throughout the business processes.
Document relevant research and background for inclusion in the strategic plan:
The research of the organization pointed out that the organization had a healthy growth rate.
Some of the most important research studies need to be made on the prospects of the renovation
business of the country. The strategic plan should consist of a holistic design of the entire
processes that are required to improve the business prospects of the organization. The
environment should be considered much importantly in order to understand how it could be a
negative or positive factor that can affect the business of the organization. Some of the other
important researches that need to be included are the technological aspects that are available with
the organization currently and the technological requirements that are presently most important
in consideration of the industry. The financial considerations that need to be made are the Break-
even analysis, the return on investment and the costing of the products. In the area of customer
and market research, the customer preferences should be given much importance in the strategic
plan. Some of the most important questions that need to be considered in this regards are who are
the customers? Their geographical presence, their demographics in he given locations, their
purchasing power, their accessibility, stability of the market, market growth predictions, seasonal

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trends, influences on the customers, proce sensitivity, gaining competitive edge. The SWOT
analysis data should be considered for the research. This would provide a better standard for the
development of the strategic plan. Research have also been considered for the leadership that
would be utilized. It is known from the research that the company has some essential workforce,
financial and structural strengths.
Formulate strategic objectives and strategies needed for the future:
Some of the most important objectives are:-
1. Developing the workforce to contribute effectively towards the growth requirements
2. Creating better scope for the development of the business
3. Increasing sales revenue by at least 50% in the next 3 months
4. Developing better networks with the suppliers and stakeholders
5. Improving all the major business functional areas to suit the requirements of production
6. Achieving 100% increase in sales in 1 year
7. Expanding the business by 50% in 6 months
8. Expanding to residential construction business within 2 years
9. To improve the service quality in accordance of the most important business goals
Detail each strategy with an assigned priority, a timeframe, responsible parties and
measurable performance indicators:
Strategy Priority Timeframe Responsible
parties
Performance
indicators
Developing the Moderate 6 months HRM, Skill

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BUSINESS PLAN
workforce management development,
performance
standards
Creating better
scope for the
development
Moderate 4 months Management Infrastructure,
workforce
management
aspects,
development
index
Increasing sales
revenue by at
least 50%
High 3 months Sales team,
marketing team,
promotional
team,
management
Sales rate,
return on
investment,
customer
interaction rate
Developing
better networks
Moderate 6 months Relationship
development
teams
Stakeholder
management
value
Improving all
the major
business
functional areas
Moderate 1 year Management,
planning and
development
teams
Growth rate,
expansion rate,
revenue growth
Achieving
100% increase
High 1 year Sales team,
marketing team,
Sales rate, sales
growth rate

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BUSINESS PLAN
Service delivery
team
Expanding the
business by
50%
High 6 months Sales team,
Development
team
Expansion data
for business,
Expansion rate,
Growth rate
Expanding to
residential
construction
business
Moderate 2 years Management
team,
Expansion
team, HRM
Sales rate, sales
growth rate,
expansion rate,
return on
investment,
revenue growth
To improve the
service quality
Moderate 6 months Service delivery
team, Quality
management
Quality rate,
customer
satisfaction
Provide for due diligence:
The strategic plan would be provided with due diligence. The strategic plan would be
prepared after gaining participation of both primary and secondary stakeholders.

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BUSINESS PLAN
You are to submit the following
Detailed strategic plan:
Attached above
Any supporting document required:
The supporting document which would be required would be minutes of the meeting with
the relevant stakeholders like shareholders and employees. The documents to be attached along
with the strategy would also consist of feedback received from customers on the social media
platforms.
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:
The mission, vision and values of Canterbury Renovations undoubtedly needs to be
revised. This is because the mission statement emphasizes more on revenue generation than
offering superior interior designing services to customers. The new mission of the firm should
hold value creation of customers as its priority mission. Similarly, the firm in its vision statement
should aim to reduce its carbon footprint and waste generation on the environment by operating
in sustainable methods.
Validate findings of research and analysis:
The findings of the research and analysis would be validated against the actual market
situations.

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Get input to and endorsement of strategic plans:
The management of Canterbury Renovations should gain participation of the stakeholders
into the strategic plan.
Brief relevant parties about the plan:
The parties or the stakeholders would be briefed about the plan. Appropriate
communicating channels established by the management of Canterbury Renovations would be
utilized to communicate with the stakeholders.
Analyse organisation’s internal and external environment to formulate strategic plans
including:
Background and research relevant to the plan:
The background of the research would be provided by the firm under study, Canterbury
Renovations. The research would be relevant because the management of Canterbury
Renovations would be required to form their business strategies pertaining to the firm keeping
the external and internal environment in view.
Legislation, regulations and codes of practice, including for intellectual property:
The firm should take into account the laws, codes of practice and regulations including
intellectual property rights of the designs.
Objectives, strategies and priorities:
Shown in the table
Roles and responsibilities
Shown in the table

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BUSINESS PLAN
Performance indicators:
Shown in the table
Timeframes:
Shown in the table
Consideration of co-operative ventures:
The management of the Canterbury Renovations should take into account co-operative
ventures in the future.
Cost-benefit and risk analysis:
Particular $
Sources of funds 385,000
Proprietors capital 40000
Overdraft 45000
Sales turnover (25 jobs @ $12000) 300000
Uses of funds(Rent, interest and advertising) 335,000
Prere-businessbusinessbusiness businessbusinessbusinessbusiness
costs costs costs costs costs costs 2,600
Gross profits (benefit) 50000
Gross profit % 13%