Fast Track Couriers: Business Plan, Performance, and Risk Management

This report presents a comprehensive business plan for Fast Track Couriers, a courier company operating in New South Wales, detailing their expansion strategy beyond metropolitan Sydney. The plan includes an executive summary, strategic goals, and an operational plan, outlining the company's business description, technology use, financial and communication plans, and risk management strategies. The report further analyzes the strengths and weaknesses of the plan, performance management options, and corrective actions to improve efficiency. A case study is included, focusing on process time improvements, quality error reduction, and increased daily production. The plan aims for business success and risk management, supported by financial backing and technological advancements like GPS tracking and electronic devices for drivers. Key performance indicators (KPIs) are identified, and both adaptive and preventative approaches to corrective actions are proposed, including warehouse efficiency improvements, optimal truck routing, and continuous training to build profits.

Running head: BUSINESS PLAN 1
Fast Track Couriers Business plan Management
Name
Institution

BUSINESS PLAN 2
Executive Summary
Fast Track Courier is a courier company that has accumulated a notable name in its 12 years of
operation in New South Wales. The firm plans to venture in other parts out of the normal
metropolitan Sydney. The report documents the firm’s strategic goals in the growth of profits
through increased areas of operation within the region. Further, the report offers the business
description bringing into picture the intended operations for the firm. In so doing, it touches on
the technology use, financial plan, communication plan, risks involved in the business and a
conclusion on the same. In its second plan, the report discusses the strengths and weaknesses of
the plan highlighting areas that might need improvement for the plan to materialize. Further, it
looks into the performance management options boosted by the technology in place with the
third part focusing on the corrective actions to be used in the process of increasing efficiency in
the production to the dispatch. The last part of the report delves into the case study on the
improvement of the process time, quality error, and the production depth per day. The plan in
itself satisfies the quest for the business success and risk management plan.

BUSINESS PLAN 3
Table of Contents
I. Introduction………………………………………………………………………….
…….4
II. Strategic goals………………………………………………………………….…….
……4
III. Operational
Plan…………………………………………………………………………...4
IV. Business Description……………………………………………………………..
……… .4
V. Use of Technology
………………………………………………………………………..5
VI. Financial Plan……………….
……………………………………………………………. 5
VII. Communication Plan….……………………………………………….………………5
VIII. Risk Management……….……………..……………………………….……………..6
IX. Conclusion
………………………………………………………………………………..6
X. Strengths and Weakness of the Plan……………………..
……………………………….6
XI. Task 2: Performance
Management……………………………………………………….7
XII. Corrective Actions…………………………..………………………………………..8
XIII. Case Study Questions.……………… ………………………………………………..9

BUSINESS PLAN 4
Fast Track Couriers Business plan Management
Introduction
The company has built a 12-year reputation, thus aiming to expand its area of operation and at
the same time embrace mechanization as a way of growing its revenue while meeting the needs
of the people. The firm is targeting the small to medium population by using a direct sales,
telephone, and internet listing to target and grow its name among the clients.
Strategic Goal
The organization’s goal is to grow its business through the increase of profits through the
expansion of its target areas.
Operational Plan
The courier firm intends to commence deliveries to the new regions within 12 months thus
increase its profits over three years to 40 percent. The trucks shall cover large areas with more
efficient trucks where the downloading of goods shall be easy thus saving time and use of
resources through the allocation of one driver per vehicle.

BUSINESS PLAN 5
Description of Business
Fast Track Couriers is presented with a suitable business environment given the fact that there
are limited numbers of courier services reaching the vast areas. As such, the firm can make use
of its well-known name to spread to areas not covered earlier by its clients (Warren 2017). Its
move to venture into other regional areas has seen it conduct a few changes through
mechanization and the reduction of drivers per truck and instead purchasing more trucks to cover
the vast areas of operation. The firm plans to do so with the help of a managing director, logistics
manager, five support office employees, and twenty trucks to assist in delivering goods to the
clients.
Use of Technology
The firm intends to embrace the use of technology by having their trucks monitored through the
GPS system thus increasing efficiency and ensuring a proper use of the resources as well as
having logistical control over their fleet of vehicles. Each driver shall have an electronic gadget
with a clear record of the delivery locations and the time which would ensure tracking of goods
and proper use of the firm’s resources.
Finance
The firm shall use its strong financial standing to secure loans from the financial institution to
purchase the new trucks for the expansion business thus reach a considerable number of people
in the area.
Communication Plan
The firm intends to continue using its traditional communication channels for marketing while
seeking new clients and other previous ones who could not be reached at the time due to
logistical challenges. The Internet is growing and remains a sure means of communication which

BUSINESS PLAN 6
would reach a multitude of people thus increasing its market share (Goetsch and Davis 2014). As
a firm targeting the small to medium individuals, the company shall continue to use surveys,
publications, posters and the internet to cast a wide net of clients getting information on the
business. The purpose of the business shall be packaged and targeted to the right audience having
a definite target group.
Risk Management
The firm is risking in the venture through the acquisition of loans. However, the firm shall work
hard to deliver the best to the clients to maintain a good rating and also enjoy the market where
similar business remains scarce (Hair Jr. and Lukas 2014).
Conclusion
The firm is well placed to undertake its business plan which is projected to grow over three to
four years steadily there is little or no competitors in the region. Besides, having built a good
name, the firm counts on its previous clients to support and grow its name thus translating to a
superior and prosperous business.
Part 2
Strengths and Weaknesses of the Plan
Strengths
Brand Name-the firm has built a strong brand name which assists it's in its expansion
Experience- the experience gathered is sufficient to outshine its competitors
Existing Clients- the existing client base supports its business through referrals and trust among
new clients.

BUSINESS PLAN 7
Little Competition- the area has fewer firms in the business thus giving it an upper hand to grow
in the business
Proper training- the firm’s training shall equip and reduce costs of operation.
Weakness
Competitors-the presence of good business shall encourage competition thus diminishing its
market share.
Limited Staff-the firm shall have limited staff matching the number of tasks and responses
needed.
Training Costs-the firm has a high training cost in the marketing, logistics handling, and
customer service, and effective programs
Task 2: Performance Management
The key performance indicators shall be the increase in a number of clients, satisfaction levels,
referrals, and the profits registered by the firm. The firm shall have a high-performance
management scenario given the measures it has taken to monitor the activities of the drivers by
having them at the right time and place (Vermeesch 2015). The electronic gadgets shall act as
measurement indicators alongside the customer numbers thus becoming a superior business. A
half a year analysis shall be done to ascertain the profits and necessary adjustments made
towards profitability. Performance in business depends on the competence of levels of the
workers and their ability to satisfy the needs of the clients thus raising the profit levels (Hamilton
and Webster 2015).
Task 3: Corrective Actions
The firm needs to adopt the adaptive and preventative approach to corrective action to adapt to
the best practices while preventing damages from occurring. The firm needs to increase the

BUSINESS PLAN 8
warehouse efficiency to cover a huge operation especially in areas of central storage. Trucks
have to be planned wisely to carry goods at full stock to avoid wastage of fuel through proper
routing.
The firm has a realistic plan which can be achieved as planned while continuously improving the
non-per forming sectors of its business. Constant training has to be done to meet the standards
and reduce expenses thus building the profits of the firm (Morecroft, 2015). The ability to
monitor the businesses’ operation boosts efficiency thus ensuring the implementation of a
successful plan for the business.
Case Study Questions
Processing Time
Processing time can be corrected through adapting modern means of production and processing
thus reducing on time used in attending to several activities. An activity that could be done by a
person can be reduced to the machines as in the case of the truck and the lifting machine. Such
machines can be used in the warehouse and in lifting goods on the trucks.
Cost of Processing
Cost of processing can be managed through preventative action where incidences leading to
wastes can be checked, and members undergo training to better handling (Cooper 2015).
Besides, the corrective measures on expensive routes in production can be improved thus saving
resources used therein.
Quality Error Rate
The quality error can be checked through corrective means where the rogue processed can be
enhanced for a better production. Besides, adapting to the current technology assists in reducing

BUSINESS PLAN 9
errors thus guaranteeing the best production (Fliscounakis, Panciatici, Capitanescu, and
Wehenkel, 2013).
Production per Day
Production per day can be improved through corrective where the processes taking the time can
be improved through training and adoption of better technology thus reducing the time and
increasing production averages per day.
Reference
Cooper, D., 2015. Effective safety leadership: Understanding types & styles that improve safety
performance. Professional Safety, 60(2), p.49.
Fliscounakis, S., Panciatici, P., Capitanescu, F. and Wehenkel, L., 2013. Contingency ranking
with respect to overloads in very large power systems taking into account uncertainty,
preventive, and corrective actions. IEEE Transactions on Power Systems, 28(4), pp.4909-4917.
Goetsch, D.L. and Davis, S.B., 2014. Quality management for organizational excellence. Upper
Saddle River, NJ: pearson.
Hair Jr, J.F. and Lukas, B., 2014. Marketing research (Vol. 2). McGraw-Hill Education
Australia.
Hamilton, L. and Webster, P., 2015. The international business environment. Oxford University
Press, USA.
Morecroft, J.D., 2015. Strategic modelling and business dynamics: a feedback systems approach.
John Wiley & Sons.

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Vermeesch, P., 2015. Effective performance management. Legal Briefing, (106), p.21.
Warren, W., 2017. Coordination of entrepreneurial growth methods and business retention and
expansion outreach. Community Development, 48(2), pp.187-206.