Assignment Detail:- BSBESB302 Develop and present business proposals
Assessment 1 - Short Answer Questions
Question 1Explain how the factors listed below affect the financial viability of business ventures-
a- General economic trendsb- Financial returnsc- Cost of operations
Question 2Complete the table below by identifying the following:• At least one example of emerging business technologyEmerging business technology refers to technology used in business operations that is currently gaining popularity and is expected to create significant social or economic effects among businesses-• At least one example of changing business technologyChanging business technology refers to current improvements in existing technology in among businesses that results in increased production efficiency-• Impact that each technology has on the viability of business ideas-
Emerging business technologyChanging business technology
Question 3Complete the table below:• Identify at least two personal circumstances that can influence the viability of your business ideaPersonal circumstances refer to personal situations or events that may affect the capability of your business idea to survive-• Briefly explain how each circumstance influences the viability of your business idea-
Question 4Complete the table below:• Identify at least three personal skills that you can use for your business idea-Personal skills refer to knowledge and abilities you have that would be helpful in the survival your business idea-• Briefly explain the suitability of each personal skill for your business idea-Suitability refers to how you can use your skills help your business idea to survive-
Question 5Complete the table below:• List at least three business risks that can affect the viability of your business idea, according to their level of severity- List the risk with the highest severity first and the risk with the lowest severity last-Business risks refer to future events or situations that threaten your business idea's financial goals-Level of severity should be according to the degree of the impact of the risk if left unmanaged, with the risk that has the most severe impact being the first response-• Explain the reason for assigning each risk in such severity level-
Question 6Explain how the availability of each resource below will influence the viability of your business idea-
a- Financial resources
b- Human resources
c- Physical resources
Question 7Answer the following questions about formats and methods of business presentations-
a- Identify at least two formats for presenting business proposals-Formats refer to how the business proposal will be delivered to the audience-
b- Identify at least two methods of presenting business proposals-Methods refer to the channel through which a business proposal will be presented-
Question 8Briefly define each principle of risk assessment related to business opportunities listed below-
a- Compliance riskb- Strategic risk
c- Cultural risk
d- Financial risk
Assessment 2 - Workplace Project Assessment
Project Overview
This workplace project assessment requires you to develop and present a business proposal for a product or service-This assessment is divided into eight tasks:• Part 1: Prepare for Business Proposal• Part 2: Analyse Viability of Business ideas• Part 3: Assess Business Risks• Part 4: Assist in Risk Management System Development• Part 5: Identify Proposal Audience and Their Needs• Part 6: Establish Business Proposal Budget• Part 7: Draft Business Proposal• Part 8: Present Business ProposalThis project requires you to complete the assessment tasks in a real workplace, or in an environment with conditions similar to that of a workplace-Each task comes with a set of instructions- You are to follow and perform these instructions while being observed by the assessor and/or submit any required documentation-Before starting this assessment, your assessor will discuss with you these tasks, including instructions and guidance for satisfactorily completing them-You are required to:• Complete the tasks within the time allowed, as scheduled in-class roll-• Identify at least two business ideas related to business opportunities and identify workplace procedures relating to evaluating business ideas• Conduct a viability analysis for each business idea that you identified• Identify and assess risks associated with your business ideas• Communicate assessed risks to relevant stakeholders and assist them in developing risk management systems• Identify the audience of your business proposal and their needs• Establish a budget for the first year of your business idea• Draft a business proposal according to the requirements and needs of your audience• Present a customised business proposal to your audience and seek feedback from them-
Part 1: Prepare for Business Proposal
This task will require you to prepare for business proposal you will later draft and present by identifying at least two business ideas for a product or service- You must also identify your workplace's procedures for recording outcomes of proposal evaluation and establishing costing for business proposals-The business ideas that you identify for this task will be the same business ideas that you will conduct a viability analysis in the next task-One of these business ideas will also be used in drafting and presenting a business proposal in the succeeding tasks-To complete this task, you must:• Identify at least two business ideas-Business ideas refer to concepts for a product or service that can be used by your business for financial gain- This can include:o Art commissionso Food from regional cuisine• Identify at least one related business opportunity for each business idea identified-Business opportunities refer to the business venture that each business idea you identify is related to- This can include:o Art shopo Take-away restaurant• Access your workplace procedures for the following:o Recording outcomes of business proposal evaluation-o Establishing income and expenditure costing for business proposals-• Outline the instructions from the workplace procedures that you accessed-• Complete the answer fields in the following pages with the information identified-Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment-Submit your responses to this workbook to your assessor- You must also submit the supplementary documents/sources used to complete your workbook responses, including workplace procedures for the following:• Recording outcomes of business proposal evaluation-• Establishing income and expenditure costing for business proposals-
Business IdeasIdentify at least two business ideas for a product or service- Identify at least one business opportunity related to each business idea identified-
Part 2: Analyse Viability of Business Ideas
This task will require you to conduct a viability analysis for each business idea that you identified in Workplace Project Part 1-Use the Viability Analysis Form provided at the Bounce Fitness site to complete this task- To complete this task, you must:• Review the following:o Workbook responses from Workplace Project Part 1-o Workplace procedures about recording outcomes for business proposal evaluationo Sources of information about key factors affecting financial viability of each business idea, such as:• Government business information• Internet research• Public reportso Workplace procedures on recording outcomes of business proposal evaluations• Identify the following:o At least one of the business ideas that you identified in Workplace Project Part 1o Business opportunity related to the business idea you identified-• Research and identify at least two key factors that can influence the financial viability of the business ideas that you identified-Financial viability refers to the capability of your business idea to generate revenue and enough profit once you start your business's operations-Key factors that can influence financial viability refer to events or situations that can affect your business's capability to generate enough income to profit- These include:o Global events such as pandemicso Economic trendso Consumer behaviour• Estimate the potential financial returns of each business idea you identified-Financial returns refer to the potential profit or loss of a business over a period of time-o Identify at least three start-up expenses for your business idea-Start-up expenses refer to the expenses that you expect to incur while setting up a business idea until your first sale- These can include:• Insurance and permit fees• Equipment and supplies• Advertising and promotiono Estimate the total start-up expenses-• Identify the cost that each start-up expense will incur-Cost refers to the amount of money to be expended by your business in exchange of acquiring each start-up expense-• Add the cost that each start-up expense will incur-o Identify at least one source of revenue for your business idea-Source of revenue refers to the source from which your business idea will earn money from the sale of their product or service- This can include:• Income from sales transactions• Recurring income from rentals-o Estimate the total revenue for the first year-• Identify the amount of revenue to the generated by each source for the first year-• Add the revenue that each source will generate-o Identify at least three operating expenses that your business idea will incur for the first year-Operating expenses refer to the resources that your business will require while running it for the first year- This includes expenses such as:• Rent• Salary• Production costso Estimate the total operating expenses for the first year-• Identify the total cost that each operating expense will incur for the first year-Cost refers to the amount of money to be expended in exchange of acquiring each operating expense for the first year-• Add the costs that each operating expense will incur for the first year-o Calculate the net income of your business for the first year-Net income must be calculated by subtracting the total estimated first-year operating costs from the total estimated first-year revenue-o Calculate the investment to income ratio of the business-Investment to income ratio measures how much a business will be able to regain the start-up costs that they incurred- This must be calculated by dividing the estimated start-up cost by the estimated net income-• Identify at least two of your personal commitments-Personal commitments refer to your personal obligations outside of your business idea that you are accountable for- These include:o Financial commitmentso Family obligations• Explain how you will adapt or adjust to the needs of your business idea considering each of the personal commitments that you identified-You must explain how you will be able to attend to the needs of your business idea despite having the personal commitments you identified-• Identify at least three skills required for each business idea-Skills refer to knowledge and abilities required for the implementation and operation of each business idea- These can include:o Financial managemento Leadership skillso Customer service• Identify at least three personal skills that you can use in the implementation and operation of each business idea-Personal skills are knowledge and abilities that you have acquired through the following:o Educationo Trainingo Work experience• Identify at least three personal attributes that you can use for each business idea-Personal attributes refer to personal characteristics and qualities that will be useful for the implementation and operation of each business idea- These can include:o Being goal-orientedo Open-mindednesso Confidence• Compare your personal skills and attributes against the required skills for each business idea- For each required skill, you must identify:o At least one personal skill that will address each skill required for a business idea-o At least one personal attribute that can help with each skill required for a business idea-• Assess the overall viability of each business opportunity based on the analysis that you conducted for their corresponding business ideas-You must evaluate whether the business opportunities related to your business ideas will be able to survive upon implementation according to the information that you identified above-• Complete a viability analysis form for each business idea with the information you identified- The viability analysis form must be completed according to your workplace's procedures on recording outcomes of business proposal evaluations-
Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment-Use the Viability Analysis Form provided at the Bounce Fitness site- You must submit at least two completed viability analysis forms to your assessor - one for each business idea- Include any supplementary documents/sources used to complete your viability analysis forms, such as:• Sources of information about key factors affecting financial viability of each business idea, such as:o Government business informationo Internet researcho Public reports• Workplace procedures on recording outcomes of business proposal evaluations-
Part 3: Assess Business RisksTo complete this task, you must:• Review the workbook responses from Workplace Project Part 1-• Identify the following:o Business ideas that you identified in Workplace Project Part 1o Business opportunity related to the business idea you identified-• Identify at least two business risks associated with each business idea-Business risks refer to the events or situations that can affect the financial health of your business idea once its operation starts- These can relate to the following principles of risk assessment:o Compliance risko Financial risko Strategic risk• Identify at least two viability risks associated with each business idea-Viability risks refer to events or situations that can affect the potential of a business idea to be successful- These can relate to:o Market stabilityo Availability of resourceso Availability of funding
• Conduct a risk assessment for each risk by identifying the following:o Likelihood of risko Severity of risko Areas of impacto Possible corrective actions• Assess the overall viability of each business opportunity by considering the risk assessment of each business idea they are related to-You must evaluate whether the business opportunities related to your business ideas will be able to survive upon implementation according to the risk assessment of each business idea-
Part 4: Assist in Risk Management System DevelopmentThis task will require you to:• Communicate the risks that you assessed in Workplace Project Part 3 to at least two stakeholders• Assist stakeholders in developing risk management systems for the risks that you identified in Workplace Project Part 3-Risk management systems refer to the set of processes or procedures to be taken to minimise or eliminate potential risks associated with a business idea-Stakeholders refer to people, groups and organisations that will be involved in and affected by the potential operations of each business idea- This includes the following:• Contractors• Employees• Suppliers• Government agenciesTo complete this task, you must:• Review the risk assessment forms that you completed in Workplace Project Part 3-• Communicate to at least two relevant stakeholders each of the risks that you assessed in Workplace Project Part 3-• Assist the relevant stakeholders in developing risk management systems for each of the risks that you communicated- This includes discussing the following for each risk:o Likelihood of risko Severity of risko Areas of impacto Possible corrective actions
Evidence must be at least one of the following:• Email correspondence• Meeting minutes• Video/audio recording of you communicating risks with stakeholdersWhen submitting video/audio this as evidence, ensure to inform the stakeholders whom you are communicating with of the purpose of the recording before doing so-You must also submit evidence that you assisted in the development of risk management systems- Evidence must be based on the results of risk assessment completed in Workplace Project Part 3-Evidence must be at least one of the following:• Email correspondence• Meeting minutes• Video/audio recording of you assisting in the development of risk management systemsWhen submitting video/audio this as evidence, ensure to inform the stakeholders whom you are assisting of the purpose of the recording before doing so-
Part 5: Identify Proposal Audience and Their NeedsThis task will require you to identify the requirements that you need to comply to in drafting and presenting a business proposal-The requirements that you will identify for this task will be the requirements that you need to fulfill when you develop and present your business proposal in the succeeding tasks-To complete this task, you must:• Select one of the business ideas from Workplace Project Part 1 that you will develop a business proposal for- Additionally, you must also identify the business opportunity your selected business idea is related to-Consider the results of the viability analysis and risk assessment that you conducted in the previous workplace tasks in selecting a business idea that you will develop a proposal for-• Identify at least one audience you will present a business proposal to-Audience refers to the people, groups or organisations you want to involve in the implementation of your business idea- They will have the greatest impact in the success of your business idea-This includes identifying the following:o Name/s of audienceo Type of audienceTypes of audiences include:• Potential investors• Current and potential employees• Potential clients and customers• Bankers or loan officers• Identify the appropriate structure of the business proposal according to the needs of the audience you identified-Structure refers to the required order and progression of content of your business proposal- Appropriate structure can be determined by the structure required by your audience through requests for proposals -RFPs- or proposal requirements- This can include:o Required parts of the proposalo Supplementary documents required• Identify the content required in the business proposal according to the needs of the audience you identified-Content refers to the information that you will include in your business proposal- Required content can be determined by the content required by your audience through requests for proposals -RFPs- or proposal requirements-• Identify the method of presentation appropriate to the needs of your audienceMethod of presenting business proposals will vary according to the request of your audience or their availability- This can include:o Slideshow presentationo Email correspondenceo Mail-in submissionThe method of presentation that you identify in this task will be the method that you will use in presenting your business proposal in Workplace Project Part 8-• Identify the product or service that your business idea will offer-• Provide the description of the product or service that your business idea will offer- This includes identifying the following:o Type of product or serviceo At least one feature of the product or serviceKey feature refers to the key function of the product or service that your business idea provides-o At least one selling point of product or serviceSelling point refers to a feature of your product or service that makes it appealing to your target customers-• Identify the following compliance and regulatory requirements relevant to your business idea:o At least two legislationso At least two regulationso At least two standards specific to your industry, product or serviceo At least two codes of practice specific to your industry-• Briefly describe each compliance and regulatory requirements that you identified-Description must be a general summary of the requirements that each of the identified compliance and regulatory requirements provide-• Complete the answer fields in the following pages with the information identified-Review Workplace Project Part 5 - Assessor's Checklist before starting this task- This form outlines the following:• Resources you are required to access to complete the task-• All criteria your submission must address to satisfactorily complete this task-Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment-Submit your responses to this workbook to your assessor- Include the supplementary documents/sources that you used to complete the answer fields below, including compliance and regulatory requirements relevant to your business idea, such as:• Legislation, such as:o Australian Competition and Consumer Act 2010o Fair Trading laws in their state/territory• Regulation, such as:o Workplace health and safety -WHS- regulations in your state/territoryo Environmental protection legislation in your state/territory• Standards, such as:o Mandatory standards relevant to your product or serviceo Industry safety standards• Codes of practice, such as:o WHS codes of practice relevant to your industry in your state/territoryo Industry codes of conduct from the Australian Consumer Law-
Part 6: Establish Business Proposal BudgetThis task will require you to establish the budget for the business idea that you selected inWorkplace Project Part 5-The budget that you will establish for this task will be included in the business proposal that you will develop and present in the succeeding tasks-Use the Business Proposal Budget template provided at the Bounce Fitness site- To complete this task, you must:• Review the following information from the previous tasks:o The business idea that you selected for Workplace Project Part 5o Viability Analysis Form that you completed in Workplace Project Part 2 for the business idea that you selected-• Develop a budget for the first year of the business idea that you selected inWorkplace Project Part 5-The budget that you will develop for this task must be based on the projected financial returns from the Viability Analysis form that you completed in Workplace Project Part 2-o Identify the business idea that you are developing a budget foro Identify the period that your business proposal budget will covero Identify at least three start-up expenses for your business idea-o Estimate the total start-up costs-• Identify the cost that each start-up expense will incur-• Add the costs that each start-up expense will incur-o Identify at least one source of revenue for the business idea that you identified-o Estimate the total annual revenue for the first year-
• Identify the amount of revenue to be generated by each source of revenue for each month of the first year-• Estimate the total monthly revenue by adding the revenue that each source will generate for each month-• Add each total monthly revenue that you will generate for your business-o Identify the at least three operating expenses that you will incur during the first year-o Estimate the total operating expenses for the first year-• Identify the cost that each operating expense will incur for each month of the first year-• Estimate the total monthly operating costs by adding the operating costs that each operating expense will incur each month-• Add each total monthly operating cost for the first year of your business-o Calculate the annual net income for the first year by subtracting the total annual operating costs from the total annual revenue-The details of your budget must correspond with the details of the projected financial returns for this specific business idea in Workplace Project Part 2-• Complete the business proposal budget template with the financial information you identified-Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment-
Part 7: Draft Business Proposal
This task will require you to draft a business proposal for the business idea according to the needs of the audience whom you will present your business proposal to-The business idea and the needs of the audience should correspond with the information that you have identified in the workbook responses from Workplace Project Part 5-Use your workplace/organisation's template to complete this task- To complete this task, you must:• Review your workbook responses from Workplace Project Part 5-• Access the budget that you established in Workplace Project Part 6-• Develop a description of your business idea that includes the following:o Your business ideao Business opportunity related to your business ideao Description of the product or service that your business idea will offer- This must include the following:• Name of the product or service that you will offer• Type of product or service that you will offer• At least one key feature of product or service• At least one selling point of your business ideaThese should correspond to the description of product or service indicated in your workbook responses from Workplace Project Part 5-o Short summary of the budget you developed for your business idea, including:• Total annual net income of your business idea for the first year• Total revenue of your business idea for the first year• Start-up costs required for your business idea-These should correspond to the information indicated in your business proposal budget from Workplace Project Part 6-• Draft a business proposal for your business idea according to the structure and content required by your audience-Include the following information that you previously completed:o Description of business idea developed for this task-o Business Proposal Budget from Workplace Project Part 6-• Ensure that your business proposal complies to the business proposal requirements that you identified in the workbook responses for Workplace Project Part 5-Your business proposal must include:o Structure appropriate to audience needs, including:• Required parts of the business proposal• Supplementary documents, if anyo Content required according to the audience needsYour assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment-
Review the template you will use to complete this task- Discuss with your assessor to ensure that the template from your workplace/organisation covers all requirements that apply to this task-
Part 8: Present Business Proposal
This task will require you to present the customised business proposal that you developed in Workplace Project Part 7 to your audience and seek feedback from them on your business proposal-To complete this task, you must:• Review the audience and the appropriate method of presentation for them that you identified in Workplace Project Part 5-• Present the business proposal that you drafted in Workplace Project Part 7 to the audience using the appropriate method of presentation-The audience and the method of presentation should correspond with the audience and method of presentation you identified in Workplace Project Part 5-• Seek feedback from your audience on your business proposal-You can ask for their feedback on the aspects of your business proposal- This can include:o Your business ideao Your product or serviceo Risk management systemso Business proposal budgeto Method of presentationThe method of seeking feedback will vary according to the method of presentation of the business proposal-
Attachment:- Develop and present business proposals-rar
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