BSB61015 - Strategic Business Plan for Royal Cruise Travels

This assignment presents a strategic business plan for Royal Cruise Travels International, a travel agency specializing in adventure travel. The plan outlines the company's goals, including revenue targets and market share objectives. It includes a detailed market analysis, examining market size, customer demographics, and the 4Ps of marketing. The plan also covers performance objectives, resource requirements, and permit/license needs for expansion. Furthermore, it incorporates PESTLE and SWOT analyses to evaluate the internal and external environments, along with communication strategies and stakeholder feedback. The plan also includes financial projections and strategies for achieving long-term growth and profitability. The document also includes an email seeking approval from the director on the environmental analysis.

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Strategic Business Plan
Company Name
Prepared by:
Position:
Date:
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EXECUTIVE SUMMARY
Communication Pitch on organisational strategy review:
The Royal Cruiser Travels International is engaged in full time travel agency services
which specialises in adventure travel and is engaged in providing professional services as
well as consultation to the recreational travellers and business travellers This Company has
aimed to become the specialist in the field of adventure travelling in Australia.
Analysis of growth strategy and expansion:
The company is determined to achieve its goals within the next three years and these
goals include-
• To earn revenue of amount $650,000 by next three years
• Maintaining a sales margin of 10% on airline travels
• To achieve 10% of sales from internet
• To develop strategic alliances with the national as well as international service
providers
Three new organisational values relevant to the strategy and expansion:
In order to achieve success The Royal Cruise Travels International has to focus on certain key
areas and these key areas are-
• There should be an effective segmentation and targeting of the adventure travellers
within the market
• Successfully positioning themselves as an adventure travel specialists
• Proper business communication with the help of media and personal interaction.
• Development of a repeat business base of the loyal customers for increasing the sales
Stakeholder feedback and support (you must take some advice from any of the stakeholders):
All the stakeholders which include the shareholders, employees and the customers will be
delighted and obliged to become a part of the Royal Cruiser Travels International.
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TABLE OF CONTENTS
CONTENT PAGES
APPENDIX 1 (presentation slides)
APPENDIX 2 (references and external resources)
The learner is required to update and adjust the page numbers and topics based on the amount of their content
and the responses made to each task.
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1. INTRODUCTION & BUSINESS PLAN
The Royal Cruise Travels International will begin its operations in the next financial years and
it will be engaged in providing attractive packages for travel and adventure sports in the
countries of Australia like Tasmania, Queensland and New South Wales. There is an
opportunity for success of Royal Cruise because the travel industry is expected to grow in the
next few years by 4 percent as well as the adventure travel by 10 percent. This industry
experiences lower competition and it can take the advantage of the growth and the lack of
competition with excellent location, experienced business staff and an effective management
and marketing. The company is determined to achieve its goals within the next three years and
these goals include-
• To earn revenue of amount $650,000 by next three years
• Maintaining a sales margin of 10% on airline travels
• To achieve 10% of sales from internet
• To develop strategic alliances with the national as well as international service
providers
Therefore, in order to do that The Royal Cruise Travels International has to focus on certain
key areas and these key areas are-
• There should be an effective segmentation and targeting of the adventure travellers
within the market
• Successfully positioning themselves as an adventure travel specialists
• Proper business communication with the help of media and personal interaction.
• Development of a repeat business base of the loyal customers for increasing the sales
The Royal Cruise Travel International is to be owned and operated by William Robert as a sole
proprietorship in the towns of Brisbane in Queensland. However, the owner is looking out for
the possibilities to establish Royal Cruise as a Limited Liability Company (LLC) or a
Partnership Firm (LLP). This will need a time period of about seventeen months of operation.
2. REVIEW MARKET REQUIREMENTS IN THE NEW LOCATION
Market size & requirements for your business
The plan of The Royal Cruise Travel International is to focus on the adventure travel market during
the initial times in the greater Brisbane area. The adventure travels fall under the category of leisure
travel and it has been anticipated that the revenues earned by the leisure travel category will exceed
by $50 billion annually in Australia.
4Ps Analysis Template
PRODUCT PRICE PLACE PROMOTION
The products of the tourism
industry is a mixture of tangible
and intangible elements
The pricing of tourism has been
considered a complex process.
The package of tourism
includes prices of services like
Railways, Air travel, Bus,
Hotels and others.
There are different
distribution strategies for
Tourism marketing.
Advertising:The
advertisement helps to
provide information to the
actual as well as the
potential tourists.
Advertisement is done
with an aim to create
awareness about the
available offers of
traveling.
The products have been
considered as a composite
combination of product which
include facilities, transportation
and attraction.
The pricing of the tourist
products are composite in
nature and therefore it is
complex. The pricing decision
is often affected by the
geographical location of the
Tourism has been treated as
a product and it is distributed
as travel
Publicity: Publicity is
focused on strengthening
the public relations with
the help of media and it
also helps to build a
positive image about the
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destination. company
All these components have its
own significance in the product
mix and the absence of any of
the product will make the
product mix incomplete.
The complex pricing strategies
of travel and tourism business
has to be operated in two
levels.
Level 1- Corresponding with
the marketing strategy for
product positioning, value for
money, return of the long run
and investments.
There are also small agents
which are placed all over the
town playing the role of a
place
Sales Promotion: Sales
promotion helps to boost
the amount of sales after
measuring the short-term
activities during the period
of peak demands. It also
helps the firm to obtain the
market shares.
Target customers (demographics, characteristics, and their geographic locations
The target customers of The Royal Cruise Travels international are the health conscious
individuals as well as couple with an approximate household income of $50,000. Normally,
these people are interested in popular adventurous activities like mountain biking, skiing, water
sports and the major customers are located in the urban areas of the Australian states like-
• New South Wales
• Tasmania
• Western Australia
• Northern Territory
The primary customers of The Royal Cruise normally ranges between the ages of 18-34 years
and consists of married couples and individuals including children.
3. DEVELOP PERFORMANCE OBJECTIVES FOR THE EXPANSION AND GROWTH
In this section you are required to develop performance objectives and targets to achieve below, in
combination, form a performance scorecard for easily tracking the performance improvements
generated by this plan.
Performance Area Performance Objectives Target to achieve Time Frame
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Financial
Performance
Customer and
Market
Performance
Internal Efficiency
and Effectiveness
Long Term
Development and
Innovation
4. IDENTIFY FINANCIAL, HUMAN AND PHYSICAL RESOURCE REQUIREMENTS
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E
5. PERMITS AND LICENSE REQUIREMENTS FOR EXPANSION
The commercial tourism activity licence guidelines provide information on the requirements of
licence for conducting the commercial tour operations in the reserves of terrestrial
Commonwealth which are established and managed under the Environment Protection and
Biodiversity Conversation Act 1999. The licence agreements for the tour opportunities which
are limited and new is one of the new mechanism which have been introduced in the tourism
industry for developing and facilitating the partnerships. The activities of commercial tourism
in the Common wealth reserves are engaged in managing the high quality visitor services and
minimal impact on the environment. However, the licence agreements offer flexibility to the
tour operators as they aim in the promotion of new and appropriate activities in the reserves.
6. DETERMINE INFORMATION REQUIREMENTS
In the pestle analysis, all the factors are discussed which does have affected the tourism
industry. Upon the political factors there can be certain risk related to the military invasion.
There should be compulsory benefits that should be provided to the employees. In the
economic factors, the growth rate of economy should be considered and also the
infrastructure quality should be taken care of. In the social factor there should be
consideration of skill level of the population and also the demographic. Also in the
environmental factors there are certain laws that are considered upon the environmental
pollution.
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7. INTERNAL AND EXTERNAL ENVIRONMENTAL ANALYSIS
In this section you are required to conduct an environmental analysis using the PESTLE template
provided below. You may wish to add/reduce the bullet points depending on the number of factors
identified for the HR planning of the organisation. Refer to factors listed onhttps://rapidbi.com/pestle-
analysis-hr-department/for analysing your organisation.
PESTLE Analysis template
Political factors:
 There is several level of corruption, in
which there is level of regulations in
service sector.
 There can be risk related to the military
invasion.
 There is a legal framework for the
contract enforcement.
 Pricing regulations as per the services
provided.
 There should be compulsory employee
benefits.
 All the products should be labelled and
the other requirements in the regional
airlines.
Economic factors:
 There is government intervention in
the free market and services that are
related.
 The infrastructure quality is in the
regional airlines industry.
 There is comparative advantage
compared to the host country and the
service sectors in the particular
country.
 Level of education in the country.
 Growth rate of the economy.
 Employment rate.
Social factors:
 Interest on leisure.
 Skill level of population and the
demographics.
 Education standard as well as the
education level of the tourism industry.
 Entrepreneur spirit and the broader
nature of society.
 Structure of the class, power structure
and the hierarchy.
 Culture.
Technical / technological factors:
 All the recent technological
developments that are been done by
the tourism industry.
 Impact of the technology upon the
product that is being offered.
 The rate of technological diffusion.
 Impact upon the cost structure in the
tourism industry.
 There is also impact upon the value
chain structure in the service sector.
Legal factors:
 Employment law.
 Data protection.
 Health and safety law.
 Consumer protection and e-commerce.
 Copyrights, Patents and e-commerce.
Environmental factors:
 Waste management in Services
sectors.
 Endangered species.
 Laws on the regulating environmental
pollution.
 Attitudes which is towards the
ecological products.
 Climate change.
8. SEEKING ADVICE FROM DIRECTOR ON ENVIRONMENTAL ANALYSIS
Based on the Internal and External Environment analysis that you have prepared in the previous
section, in this section you are required to seek advice from your director who will provide you
approval on your completed internal and external environment analysis.
Email Communication Template
<Organisation name>
<Date>
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Subject:
To:
Dear Director,
In the tourism industry, there are several factors that does matter in continuing the business and
sometimes it affects the business structure. In the economic factors, there is government intervention
in which it can be seen that the government does open some boarders which help the tourism
industry to grow and also it the tourist can visit several places. The government has to take care of the
waste management so that the country looks cleaner and more tourists get attracted.
All the basic factors have been discussed above and hope the factors will be considered. Please give
the views upon the factors that are being listed.
<Insert your name>
<Insert your position>
Approved by Director? Yes No
If no, Suggestions:
9. SWOT ANALYSIS
SWOT Analysis Template
Strengths Weaknesses
 The destination appeal and
uniqueness of Australia
 The global economic recovery is still
progressing and it will assist in the
volume of sales
 There is solid growth in the air capacity
due to the presence of competition in
the aviation sector
 There is healthy competition in digital
marketing and online bookings system
in the recent years which supports the
domestic tourism market
 The below trend of the economic growth
of Australia is expected to last longer and
it will result into unemployment and
discretionary expenditure
 It has been expected that the growth of
the domestic business travel will remain
weak for the next two to three quarters
 There has been strong occupancy rates
in the hotel industry but still it is cutting
their average daily rates
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Strengths Weaknesses
Opportunities Threats
 The limited refurbishment and the
investment in the regional areas will
support the international dispersal
 In the short term the softening
outbound demand is expected to lower
the load factors which will
subsequently lower the airfares
 The depreciating Australian dollar is
expected to increase the economic
value of tourism
 There has been no recovery of the
corporate travels with the economic
growth
 The new tourism law of China is
expected to affect the longer growth of
the market within a short span of time
 There has been decline in the future
growth of the bilateral capacity of the
aviation particularly in traditional and
emerging markets
 There has been an intense competition in
the market of tourist dollars
Plans to address SWOT with organisational capabilities: (You may use bullet points)
 The appeal and uniqueness of Australia
 Growth in the air capacity
 Recovering the growth of corporate travels
 Controlling the occupancy rates of the hotel industry
 Need introduction of modified tourism laws
 Controlling the depreciation of Australian dollar
 Subsequent lowering of the airfares
 Controlling the competition in the market of tourist dollars
Competitor Analysis Template
 In order to complete this template you will need to ask yourself these questions. How do you
rate against your competitors? How can your business improve on what they offer?
 List at least 3 competitors of the organisation in the table below along with other details. You
must put at least one information in each section.Use bullet points in the box if you have more
than one input within a section.
Competitor Established
date
Size Market
share
(%)
Value to
customers
Strengths Weaknesses
Paradise Travel 15.03.2012 150 24 Prices that
they offer are
cheaper than
the
competitors.
The consumers
like as they offer
specific tour
packages.
There are several
competitors that do
have offer same
packages.
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Competitor Established
date
Size Market
share
(%)
Value to
customers
Strengths Weaknesses
Tropical Travel 24.06.2014 120 62 Does offer
several
combo
packages
compared to
others.
They do have a
huge fan base.
The tourist can get
confused with so
many packages.
Mountain Top
Travel Co.
21.08.2019 160 36 It does offer
adventure
tours.
All the
adventure
tourers do love
the organization
as they offer
trips like this.
It may happen that
many consumers
do not like the
adventure offers.
10. PLAN FOR HUMAN RESOURCES/SKILLED WORKFORCE AVAILABILITY AND COSTS
Hobart (or chosen) City Review & Skilled Workforce Availability (maximum of 300 words)
Brisbane is the third largest city in Australia and it is the cultural hub of Queensland. The
CEO’s of the Australian companies have made remarkable progress in addressing the shortages of
skills. Therefore, this needs to have a clear vision of the skills which are required in future and to up
skill the existing workforces. This requires collaboration with the educators and the educational
institutions. There have been emergence of many new technologies like artificial intelligence, data
analysis, automation and each and every person is required to have understanding, awareness and
capabilities to survive in this world of new technologies. The business leaders are looking ways for
solving the problem in order to make Brisbane the best place to work in Australia.
Staffing requirements and forecasted costs
Position/Role No. of staff
required
Year 1 expense Year 2 expense Year 3 expense
Total Staffing costs
Job Advertisement
Modify the whole template according to the organisational requirements. All positions required by the
branch needs to be included in this advertisement. Information within the template is just generic.
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<Business name>
<Title>
<List the pay, the type of employment, expected hours and the main benefits of the job>
 Permanent full time position
 38 hours per week
 $46,000 per year + superannuation
 City location, close to public transport
<Include other details such as:
 A short description of your business
 A description of the job / type of work
 How the job has come about (if relevant)
 Who the person will report to
 List the essential (or desirable) skills, qualifications and experience>
We are looking for an office receptionist for our small business in the wholesale stationery
market.
The receptionist will report to the office manager and will be responsible for office
administration including:
 reception, including responding to telephone calls and emails and greeting
clients
 handling and distributing mail
 filing and photocopying
 maintaining records, including checking accounts and invoices
The job will be full time, with hours to be worked between 9.00 am and 5.30 pm Monday to
Friday.
Successful applicants must have:
 relevant previous reception experience
 advanced Microsoft Office and typing skills
 strong communication and interpersonal skills
 strong organisational skills and attention to detail
A Certificate IV in Business Administration or equivalent qualification is desirable.
<Include instructions on how to apply – for example, type of application, contact details and closing
date>
If you are interested in this job, please email your resume to <contact email address>or call
<contact telephone number>for further information.
Applications close on <date>
Template Source:https://www.fairwork.gov.au/ArticleDocuments/766/Job-advertisement-template.docx.aspx)
11.FINANCIAL PLANNING (P&L STATEMENT, CASHFLOW STATEMENT)
In this section you are required to prepare the financial plan for the case organisation (or the business
you have selected) and forecast the financial strategy for the next three years.
You are required to prepare:
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a. Projected Profit and Loss Statement for three years
b. Cash-flow Statement for three years
Profit and Loss Statement Template
(Modify the template according to your organisational requirements)
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Cash Flow Statement Template
(Modify the template according to your organisational requirements)
12. SIMULATED SCENARIO FOR BUSINESS QUARTERLY REPORT
Scenario: Assume you have operated a quarter of a year within the new branch location. Your
director has requested for a quarterly report of the branch activity and review the performance. Based
on previous business analysis and the research, prepare the business quarterly report. This report
should be based on the first quarter of the business operation.
Email to Director Template
<Organisation name>
<Date>
Subject:
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Dear Director,
As per your request, please find the reports in the following table.
REPORT TYPE DATA
Staff performance data
Sales data
Quarterly expenditure data
Staff training data
Market trend data
<Explain all the report data here>
Thanks.
<Insert your name>
<Insert your position>
13.REDESIGN PERFORMANCE INDICATORS FOR STAFF MEMBERS OF NEW BRANCH
In this section you are required to redesign the performance indicators for staff members of the new
branch.
Position Role Key Performance Indicators Acceptable
standard
Targeted
date/
timeframes
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14. COMMUNICATE & BRIEF STRATEGIC BUSINESS PLAN
In this section you are required to communicate and brief the strategic business plan to relevant
stakeholders, parties and new staff members. Modify the email and brief templates according to your
organisational requirements.
You are required to:
a. Communicate the business plan to the new staff members of the new branch using an email
to ensure that they all understand the performance requirements and timeframes. You must
communicate the KPIs, acceptable standards and timeframes that you planned in previous
table along with the organisational strategies. (1 mark)
b. Provide a strategy brief to all individuals/teams on their specific roles in achieving the
strategies. You may wish to explain them about targets and goals. (1 mark)
Email Communication Template
<Organisation name>
<Date>
Subject:
Dear New Staff Members,
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<Insert your name>
<Insert your position>
Brief template
Company Name
Strategy Brief
To: Recipient Name
From: Your Name
cc: Name
Date: Date
Re: Subject
<Brief details>
15. SIMULATED SCENARIO FOR SYSTEM FAILURE(WH&S) & VARIANCE REPORTING
Scenario:Assume that there had been several WH&S breaches and minor incidents in the new
organisational premise/branch where there are approximately 40 individuals working on each day.
This is because the new staff members were not trained in regards to Work Health and Safety issues.
In addition, the old members who have transferred from your original office are not practising the
WH&S procedures of the organisation adequately.
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a. Based on the WH&S Act 2011, identify the following: What type of training (for example,
refresher course) is required in the new premises/location/branch. How many person needs to
have a first aid certificate? What requirements do you have in regards to safety committee?
What type of safety procedures should you have? Which external organisation (third party)
will you hire for the WH&S training? What would be the costs?
b. Prepare a 300 report for your Director at Sydney office mentioning the system failures and
WH&S failures and incidents and explain your case for WH&S training and WH&S
Management Systems. You are also required to explain the variances that will be required to
the strategic business due to these additional time, effort and expenses for implementing
Work Health & Safety Management Systems.
Email to Director Template
Organisation name
<Date>
Subject:
Dear Director,
There have been some system failures in regards to WH&S within our new premises.
Please find the report below:
SYSTEMS FAILURE REPORT
<Explain all the failures and incidents here>
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Thanks.
<Insert your name>
<Insert your position>
16. SIMULATED SCENARIO FOR PERFORMANCE DATA ANALYSIS
This section includes a scenario after the operations have started in Hobart/chosen location.
Scenario:After 4 weeks of operations in Hobart (chosen) branch you have realised that there are
several areas of concerns within the implementation of the business plan. First of all, you find in
performance reports databases that there are several failures in meeting performance objectives.
These include performance failures such as:
 Marketing targets are not being met
 Classrooms (operations, if using a separate organisation) and facilities are not setup in
advance
 Trainers and teachers have not provided adequate support to the students/ CSR have not
provided adequate service to clients
 Classroom punctuality issues / Staff attendance issues
 Enrolment of all student/ clients has not yet being completed in the EMS database
 Inductions for all students/clients are yet to be completed
Based on these performance issues mentioned, you have decided to analyse and review the existing
performance against the objectives that you have set earlier. You have also decided to review the
performance indicators, system processes and work methods.
To complete this section you are required to
a. Analyse performance reports against objectives (1 mark)
b. Review performance indicators and refine if necessary (1 mark)
c. Ensure individual and group performance with coaching and training (2 marks)
d. Review system processes and work methods (2 marks)
a) Performance Report Analysis
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b) Review of Performance Indicators
(Develop and review at least one KPI for each of the positions mentioned in the template or use at
least 3 positions relevant to the organisation of your choice)
Position Role Previous KPIs Revised KPIs Targeted date/
timeframes
Marketing
Officers
Trainers
Student
Services
c) Identify Training Needs, Provide Training and Coaching (ROLE PLAY ON TNA)
Scenario:A student services employee named Mellissa who was responsible for enrolment of all
student/ clients in the EMS database and the inductions had performance issues as she did not
complete the tasks within the timeframe. As she is a new employee it would be reasonable for you to
identify her training needs and gaps and provide her with adequate coaching and training to ensure
she can take on increased responsibilities and new tasks, by her own without missing deadlines.
You will need to complete TNA template below along with a 3 minute role-play session on this
meeting (that you will need to attach in Appendix). You will play the role of general manager and a
fellow classmate can play the role of Mellissa for this Training Needs Analysis Meeting.
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Training Needs Analysis (TNA) Template
EMPLOYEE NAME: POSITION: TNA DONE BY:
Major
tasks of
position
Training/skills
development
required?
If yes,
identify
what
training
needs
exist
How will
this be
achieved?
(eg on the
job, external
training)
When?
Who to
organise?
Training
provider?
Y N
<insert
major
tasks of
position>
<insert
training
needs, if
any>
<insert how
this will be
achieved>
eg on the job,
external
training
<insert
when>
<insert who is
going to deliver
the training>
Provide your personal feedback on her performance:
Signed by: General Manager Staff Member .
Date:
Attach role-play script in Appendix 2. Role-play carries 2 marks.
d) Review system processes and work methods
To complete this task you are required to
Develop at least four system processes and work methods that are relevant to the work/roles in your
organisation.
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After you have developed the four system processes and work methods, your director has mentioned
that he/she could not approve them since there had been several incidents and operational failures.
You will now need to review and revise those four system processes and work methods again.
17. AUDIT OF MILESTONES ACHIEVED
Scenario:In this section you are required to evaluate the achievements of the agreed milestones.
The agreed milestones (you will need to decide on agreed milestones if you are using your chosen
organisation) for this new branch were:
 Setup the new premises by 4 weeks for operations
 Complete enrolments for all students by Week 2
 Staff performance levels are around 80% accuracy and timeliness
 Marketing has reached its sales target of 30 students per month
 Teachers and trainers have received a positive feedback of 60% or more
Based on the agreed milestones, you will now need to decide whether these milestones were
achieved or not. If not, mention the discrepancies, recommended mitigation. Completion timeframes
can be identified using the agreed milestone timeframes and your newly decided actual timeframes.
Audit of Objectives & Milestones
Discrepancy
Recommended Mitigation Agreed
Completion
Timeframe
Actual
Completion
Timeframe
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18. COST BENEFIT & RISK ANALYSIS
Scenario: As you have managed the strategic and business plan for this new branch, the investors
and stakeholders are motivated by the prospect o setting up another venture in a different location in
near future. You reporting director have requested you to conduct the following analysis for the next
venture project as you have gained the experience in analysing. Based on the experience you had in
this branch location and strategic project; conduct the following analysis for another venture:
a. Identified Risks
b. Risk Analysis& Assessment
c. Cost Benefit Analysis
Identified Risks
Identify at least 3 potential risks to this project and explain your strategies to reduce/eliminate/control
the risks.
Risk 1: Political risks:
Political risks would stem owing to changes in government policies and laws which would exceed the
costs of the company. For example, the present rate of GST payable by business firms operating in
Australia including The Royal Cruise Travel International is 10% on their net profits. The government
of Australia may increase this rate of GST which would require the companies to comply with. This
would lower the net profit after tax which the firms like The Royal Cruise Travel International would
earn.
The second type of political risk would stem owing to deteriorating bilateral ties which Australia holds
with different countries like the US and the UK. For example, the USA and China are two important
trading partners of Australia. Both these countries provide large numbers of international tourists, thus
contributing to revenue generation in the Australian travel and tourism industry. Australia may have to
shift towards the USA or China in the wake of the ongoing the USA China political tensions. This
would result in the countries losing majority of the tourist inflows from either of these countries
namely, the USA or China. This would ultimately lead to losing the revenue generated from serving
tourists of either of these nations.
Risk Management Strategy:
The management of The Royal Cruise Travel International can form several risk management
strategies to reduce the impacts of political risks since it cannot mitigate their effects totally. The
following are the risk management strategies which the management of The Royal Cruise Travel
International can adopt in this case:
1. The management should market its services of The Royal Cruise Travel International more
aggressively in the international market to attract foreign tourists from different nations like India,
Canada and the EU nations. This would enable it to generate higher amount of revenue which would
provide it the substratum to diversify the loss of revenue it would suffer due to losing customer bases
from certain nations like the USA or China owing to political tensions.
2. The Royal Cruise Travel International should ensure that its strategies are compliant with the laws
and the policies in power in Australia like Safe Work Act. The company should also comply with the
international laws while serving tourists. For example, while serving tourists from the UK, the company
should ensure compliance with the UK laws like emigration laws pertaining to the tourism industry.
This strong compliance with laws would ensure that the company attracts lower penal charges. This
would lead to incurring of lower amount legal charges, which would ultimately boost the profit
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generation in the company.
Risk 2: WHS risks:
The Royal Cruise Travel International would attract work health and safety risks owing to lower
degree of workplace hazard management which may lead to injury of employees. For example, the
hotel may face WHS risks owing to accidents like tripping of employees or fire outbreaks within the
office premises. This would ultimately lead to loss of productivity, thus leading to loss of revenue
generation.
Risk Management Strategy:
The management of The Royal Cruise Travel International should take the following steps to minimise
the WHS risks to the possible extent:
1. The management should ensure that the office premises are free from workplace hazards like
excessive noise and chances of fire.
2. The management should have installations placed within the office premises like CCTV cameras
and fire extinguishing systems to tackle accidents like fire.
3. The employees should be provided with risk management training which would enable them to
identify and report risks. This would also enable them to participate in risk implement strategies of the
company.
4. The company should have risk audits conducted at least once in six months.
Risk 3: Revenue risks:
The Royal Cruise Travel International would face revenue risks owing to losing customers and the
associated revenue to competing travel companies. The newly entering travel firms may also
introduce more innovative travel and tourism packages to customers, thereby poaching them from
The Royal Cruise Travel International.
Risk Management Strategy:
1. The Royal Cruise Travel International should market its services aggressively in the market in order
to acquire new customers. This would enable the firm to generate new business by serving the new
customers. This would provide the base to the firm to diversify the loss of revenue it would suffer
owing to losing a percentage of its customer base to its competitors.
2. The Royal Cruise Travel International should ensure that the tourism packages are of high quality
and are aligned to the needs and expectation of the tourists, its customers. This would ensure that it
succeeds in generating customer satisfaction among its existing base of customers which would
provide it with a strong revenue base. This strong and stable revenue base would ultimately support
the future business expansion strategies of the company.
Risk Assessment
Using the three identified risks, you are now required to assess and manage the risks using the “Risk
Matrix” below. Imaginary samples provided inside matrix.
FREQUENCY CONSEQUENCE
Insignificant
outcome
Minor
outcome
Moderate
outcome
Major
Outcome
Catastrophi
c outcome
Almost certain WHS risks like
minor injuries
Political
risks(changes
like changes in
GST rates and
tourism laws)
Revenue risks
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T-1.8.1_v3
Likely Political risks
like souring of
bilateral
relationships
of Australia.
Possibly Example
Product
Shipment
delayed
Delete this
Major
accidents like
fire
Unlikely
Rare
Cost Benefit Analysis
Conduct a cost-benefit analysis for the new project that your director has assigned you. Imaginary
samples provided inside. Please modify and adjust the highlighted information (in blue) within the
sample template based on your organisational information.
Cost-Benefit Analysis Template
Costs in one year Equipment - $50,000
Staff -$ 100,000
Rent - $40,000
Utilities - $ 30,000
Total Costs -
Benefits in one year (Tangible)
Benefits in one year (Intangible)
Cost savings in training - $
20, 000
Cost savings in marketing - $
20,000
Motivated employees due to
work from home
Total Benefits -
Comparison of cost and benefits Compare the costs and benefits. Support with calculations and
results.
Overall outcome of analysis
(profit or loss)
In 1 year, the new equipment will pay back its original cost and
generate additional income.
19. CONSIDERATION & COMPARISON OF VENTURES WITH STRATEGIC PLAN
Areas of consideration Your Existing Strategic Plan Cooperative Ventures
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T-1.8.1_v3
20. COMMUNICATE ON STRATEGIC PLAN TO INVESTORS AND STAKEHOLDERS
In this section you are required to communicate through email on the strategic business plan and the
presentation that you will deliver to the stakeholders next week. Briefly highlight on the strategic
business plan (especially the mission, objectives, targets, strategies and operational plans) in very
short and mention that details will be discussed during presentation with Q&A session.
Email Communication Template
<Organisation name>
<Date>
Subject:
Dear All Stakeholders,
The business plan that is been presented are of tourism and travel and it does offer several tour
packages to the tourists. The plan that is been presented have projected an minimum growth rate.
The mission and vision of the organization is to fulfil all the demands of the tourists by providing the
various services. The main strategy is to have give the best services against the best prices that they
have to pay.
<Insert your name>
<Insert your position>
APPENDICES
Attach the following appendix documents (Appendix 1 and 2) and list the sources and references in
Appendix 3.
APPENDIX 1: PRESENATION SLIDES
APPENDIX 2: ROLE-PLAY SCRIPT
APPENDIX 3: SOURCES AND REFERENCES
Barrow, C., Brown, R. and Barrow, P., 2018. The Business Plan Workbook: A Step-By-Step Guide to Creating
and Developing a Successful Business. Kogan Page Publishers.
Berbegal-Mirabent, J., Gil-Doménech, D. and Alegre, I., 2016. Improving business plan development and
entrepreneurial skills through a project-based activity. Journal of Entrepreneurship Education, 19(2), p.89.
Burns, P. and Dewhurst, J. eds., 2016. Small business and entrepreneurship. Macmillan International Higher
Education.
Chambers, I. and Humble, J., 2017. Developing a Plan for the Planet: A Business Plan for Sustainable Living.
Routledge.
Dale, B., 2019. One Shot Pub: A Business Plan.
Gabler, C.B., Panagopoulos, N., Vlachos, P.A. and Rapp, A., 2017. Developing an environmentally sustainable
business plan: An international B2B case study. Corporate Social Responsibility and Environmental
Management, 24(4), pp.261-272.
Grit, R., 2019. Making a Business Plan. Routledge.
McKeever, M., 2016. How to write a business plan. Nolo.
McKenzie, D. and Sansone, D., 2019. Predicting entrepreneurial success is hard: Evidence from a business plan
competition in Nigeria. Journal of Development Economics, 141, p.102369.
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