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1KBS ASSESSMENT 3 OUTLINEAssessment InformationSubject Code:MBA602Subject Name:Small Business AdministrationAssessment Title:Assessment 3: Business PlanWeighting:40%Total Marks:40Word Limit:1500 wordsSubmission:Via TurnitinDue DateWeek 12This Assessment Task will address the following Learning Outcomes:LO2:Analyse small business management decision making and strategies for successLO3:Create a three-year financial plan given a business scenarioLO5:Create a proposal for strategies to improve business performanceAssessment DescriptionYou are required to read the scenario provided. Jane has asked you to provide her a business / strategy plan for her business in moving forward. She knows she needs to expand her business into another capital city as well as automate her business better to be financially sustainable. After reading the scenario, you will be required to submit a business plan she can take to her board to justify the expansion including raising $350k. The plan will include the following: • Identify capital city to expand into which will provide the more profitable return-on-investment. This will include conducting market research to determine which capital city is suitable based on FutureProfit’s current target market. • The advantages and disadvantages of leasing a commercial property or renting a co-working in the new city including the financial requirements. • A business model canvas for FutureProfit Pty Ltd. A good video to understand and present the business model canvas, watch https://youtu.be/IP0cUBWTgpY (The Business Model Canvas – 9 Steps to Creating a Successful Business Model – Startup Tips). • Staff training needed to be future-ready. • Two strategies / solutions you think will improve business performance and sustainability (e.g., how and what to automate). This information will also provide the basis for capital injection (e.g., technological requirements). • Financial projections for the next three years2KBS ASSESSMENT 3 OUTLINEScenario Jane has been operating her business consulting and accountancy practice, FutureProfit Pty Ltd, for five years. She has done quite well for herself being in accounting for over 20 years and being recognised in her field locally, nationally and internationally. Though she has a few clients overseas, the majority of her client base is in Canberra, where she has resided pretty much all her life. Despite her success, she is concerned about the sustainability of her practice over the next 5-10 years due to the changing nature and threat of automation to the accounting / bookkeeping industry. She has read that artificial intelligence, cloud computing and blockchain will continue to affect the industry. Additionally, she is concerned that her staff do not have the technical, analytical, leadership and consulting skills needed to continue their success in the future. She currently has four full-time employees: two accountants, one bookkeeper, and one office manager. She also has two part-time bookkeepers and a marketing/social media coordinator who all work off-site.Her target market is SMEs who are in a growth phase and have a minimum turnover of $1 million per annum. Though she doesn’t target a specific industry, she tends to attract those companies that are in either health, education or the STEM (science, technology, engineering, mathematics) fields – just due to the nature of Canberra.She currently promotes her business mainly via word-of-mouth and networking at local professional associations such at the Canberra Business Chamber, the Australian Institute of Company Directors, and the Canberra Women in Business. Last year’s sales revenue was $550,000 recording a modest $6000 profit. Her key expenses are her own wage ($150k), salaries/wages ($320k), marketing/advertising ($50k), and general operations ($100k). She has two directors which she pays a token $25k each per year. She currently operates her business out of a detached building on her property and allocated $24,000 towards rent. Jane believes that the expansion will increase their sales revenue by 20% the first year, 30% the second year, and 40% the third year. Her company currently uses XERO, a cloud-based accounting software platform for small and medium-sized businesses. Other than that, no other automation has been implemented. Capital Raise It is anticipated that the breakdown of the capital raise will be as follows: (a) One full-time technical programmer @$100k; (b) one full-time accountant @$80k; (c) $100k towards interstate expansion (including operational and occupancy costs), and (d) $70k for marketing. A template business plan is provided on the portal to you to use if you wish. You are not required to use the template business plan. You are required to have a minimum of 10 references which can include journal articles, market research documents, government publications, industry reports, etc.3KBS ASSESSMENT 3 OUTLINEGrading ScaleThis assessment will be marked using the attached rubric.Important Study InformationAcademic Integrity PolicyKBS values academic integrity. All students must understand the meaning and consequences of cheating, plagiarism and other academic offences under the Academic Integrity and Conduct Policy.For details on academic integrity policies and penalties, the reassessment process, and the appeals process, please refer to http://www.kbs.edu.au/current-students/student-policies/.Word Limits for Written AssessmentsSubmissions that exceed the word count / time limit / slide count by more than 10% will cease to be marked from the point at which that limit is exceeded.Study AssistanceStudents may seek study assistance from their local Academic Success Centre representative or refer to the study help on the MyKBS Academic Success Centre page. You can find this by clicking on the top page toolbar:My Services>Academic Success Centre>Study Support ResourcesCOMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86 098 181 947 is a registered higher education provider CRICOS Provider Code 02426B.KBS ASSESSMENT 3 OUTLINECriteriaF (Fail)0%-49%P (Pass)50%-64%CR (Credit)65%-74%D (Distinction)75% – 84%HD (High Distinction)85%-100%MarkASSESSMENT CONTENT31Executive SummaryNo Executive Summary included.One-page Executive Summary included but needs more depth.One-page Executive Summary included.One-page Executive Summary included.One-page Executive Summary included./2IntroductionWeak introduction; no overview of the company. SWOT analysis including trends affecting the industry is not discussed or needs much more detail. Purpose of the plan not identified. Business Model Canvas not included.Introduction is fair though needs much more depth of the company and the industry it services. More depth in the SWOT analysis and trends. Purpose of the plan identified. Business Model Canvas included, needed more depth.Introduction is good with an overview of the company and the industry it services. SWOT analysis including trends affecting the industry needs more detail. Purpose of the plan identified. Solid Business Model Canvas included.Very thorough introduction with an overview of the company and the industry it services. SWOT analysis including trends affecting the industry discussed. Purpose of the plan identified. Thorough Business Model Canvas included.Introduction is comprehensive with an overview of the company and the industry it services. SWOT analysis including trends affecting the industry discussed. Purpose of the plan identified. Comprehensive Business Model Canvas included./8• Marketing PlanExpansion city not identified. Inadequate market research included to justify choice of city. Few market details identified and described. Customer and competitor details not outlined. No marketing strategies identified for new market.Expansion city identified with adequate market research included to justify choice of city. Market details identified and described. Customer and competitor details outlined. Some marketing strategies identified for new market.Expansion city identified with solid market research included to justify choice of city. More depth needed of market details. Good customer and competitor details. Good marketing strategies identified for new market.Expansion city identified with thorough market research included to justify choice of city. Very good depth of market details including customer and competitor details. Thorough marketing strategies identified for new market.Expansion city identified with thorough market research included to justify choice of city. Comprehensive market details including customer and competitor details, and marketing strategies identified for new market./8Operations PlanFew specific operations details identified and described. Neither training nor business performance strategies included. Tenancy options not discussed.Fair number of specific operations details identified and described. Training requirements highlighted with business performance strategies included. Tenancy options discussed. More depth needed.Solid details of specific operations identified and described. Training requirements highlighted and explained. Sound business performance strategies explained. Tenancy options discussed.Thorough details of specific operations identified and described. Training requirements highlighted and explained very well. Business performance strategies and tenancy options discussed in detail.Comprehensive details of specific operations identified and described. Training requirements, business performance strategies and tenancy options extremely thorough./8• Financial PlanFew specific financial details identified and described. Understanding of financial plan purpose not demonstrated.Financial details sufficiently identified and described. Demonstration of basic level understanding of financial plan purpose.Financial details broadly identified and described. Demonstration of intermediate level understanding of financial plan purpose.Financial details well identified and described. Demonstration of high-level understanding of financial plan purpose.Financial details comprehensively identified and described. Demonstration of advanced level understanding of financial plan purpose./6STRUCTURE FORMAT8Answer clearly and logically presentedSerious lack of organization. Body paragraphs do not refer back to or relate to main arguments. Writing is formulaic, i.e. “in conclusion,” “another example is….”Writing style could be more effective. Organization is hard to follow; there is little progression of ideas. Little or no transitions between paragraphs. Need to more effectively weave main arguments throughout and relate body paragraphs.Paragraphs are generally well organized. Better transitions needed. The progression of ideas could be more thoughtful. Paragraphs relate back to main arguments to prove argument.Ideas & arguments are well structured. Thoughtful progression of ideas and details. Sound transitions between paragraphs. Major arguments are effectively made.Ideas & arguments are effectively structured. Thoughtful progression of ideas and details. Excellent transitions between paragraphs. Concluding comments leave the reader thinking. Major arguments are effectively woven throughout everybody paragraph, with ideas always related back to main argument./2Appropriate theory and research used to answer question posedThe plan does not have appropriate structure and lacks direction. No significant observations made from appropriate theory and research. No references or citations.The plan examines the relevant issues and makes reasonable observations made from appropriate theory and research. Only has between 1-4 references.Good critique examines the relevant issues and makes good observations from appropriate theory and research. Has between 5-7 references.A very good critique considered all the relevant issues and made important observations made from appropriate theory and research. Has between 8-9 references.Fully considered all the relevant issues and made significant observations made from appropriate theory and research. Has 10+ references from a wide variety of appropriate sources./2KBS ASSESSMENT 3 OUTLINECorrect academic writing style used, including correct spelling, grammar and punctuationNeeds more sentence variety. Little or no thought given to diction. Tone or language is conversational. Contains much informal language. Uses “I” or “you.” Contains many examples of unclear or awkward phrasing.Needs more sentence variety. Attention needed with diction. Contains informal language or conversational tone or uses “I” or “you.” Unclear or awkward sentence phrasingSentence variety is adequate. Tone is appropriate. Diction is clear but could be more effective. Language is academic, and writing is clear and effective. Very little or no unclear or awkward phrasingSentence variety is effective and good. Tone is appropriate and consistent. Diction/ vocabulary is appropriate and effective. Language is academic. Writing is clear, and concise.Sentence variety is effective and sophisticated. Tone is appropriate and consistent. Diction/ vocabulary is sophisticated and effective. Language is academic. Writing is clear, concise, and strong./2Format of answer consistent with question requirements and KBS guidelinesNo efforts made to follow submission and editing, spacing, etc requirementsMeets most editing, spacing, fonts, and other editing requirements. Some requirements not met.Meets editing, spacing, fonts, and other editing requirements.Meets almost all editing, spacing, fonts, and other editing requirements.Meets all editing, spacing, fonts, and other editing requirements./2Comments
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