MBA602 Tasmanian Gourmet Venison Pty Ltd Business Plan 1500 words business plan. A template business plan is provided on the portal to you to use if you wi

MBA602 Tasmanian Gourmet Venison Pty Ltd Business Plan 1500 words business plan. 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. Academic referencing is not required for this
assessment. Assessment Information
Subject Code:
Subject Name:
Assessment Title:
Weighting:
MBA602
Small Business Administration
Assessment 3: Business Plan
30%
Total Marks:
30
Word Limit:
1500 words
Submission:
Via Turnitin
Monday Week 12 23:55pm AEST
Due Date
This Assessment Task will address the following Learning Outcomes:
LO2:
Analyse small business management decision making and strategies for success
LO3:
Create a three-year financial plan given a business scenario
LO5:
Create a proposal for strategies to improve business performance
Assessment Description
You are required to read the following strategic planning transcript and prepare a
Business Plan based on the information provided.
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. Academic referencing is not required for this
assessment.
Transcript from the Strategic Planning Meeting
Tasmanian Gourmet Venison Pty Ltd
Date: 4 August 2018
Attendees:
David Connery (Director)
Alecia Prior (Director)
Andrew Hewitt (Director)
_____________________________________________________________________________
David:
Welcome, Alecia and Andrew, and thank you both for coming. The topic for
discussion today is the consideration and determination of how Tasmanian
Gourmet Venison Pty Ltd will fund its proposed $500,000 business expansion to
establish wholesale/retail butcheries in Hobart and Launceston specialising in
organic venison. Is there anything that either of you wish to say at the outset
before we begin our discussion?
1
KBS ASSESSMENT 3 OUTLINE
Alecia:
Thanks David. I just want to say that I think this is an excellent opportunity to
position this company to enjoy the lucrative market for quality venison products in
Tasmania. As a former partner for KPMG where I advised agricultural businesses
for seven years, I cannot recall seeing an opportunity as promising as this.
Andrew:
Thanks David. I’d like to note this company now owns and operates the largest
organically certified grazing property in the Tasmanian highlands. We are the
only operator that breeds and processes deer in an on-farm certified abattoir. The
size of our deer herd has been expanding for more than ten years and now there
is sufficient breeding stock to offer a consistent supply of organic venison
products to Tasmanian customers. We’re more than ready to take the next step
by vertically integrating the operation into wholesale and retail distribution.
David:
Excellent points. Can I ask you Alecia why you believe this opportunity has so
much promise?
Alecia:
Sure. Three new developments strongly suggest that the increase in
consumption of organic venison in Tasmania will continue. First, higher prices for
organic meat products now make venison more price competitive than it has
been previously. Second, there is increasing demand for meat that is free from
hormones and antibiotics. Third, our company’s supply of organic venison is now
of sufficient volume to assure a consistent supply of product to consumers.
David:
Andrew, you worked for ten years in specialist butcher shops in the UK before
joining the meat products division of a large food company in Australia. And you
have direct experience with hiring, training and directing operations in meat
packaging and marketing. Do you agree with Alecia?
Andrew:
Yes, I do. And I’d add that our company is committed to providing premium
quality organic venison at competitive prices to customers within Tasmania.
We’re expanding our current line of organic venison products to include venison
rump steak and venison topside.
David:
I have to say I agree with both of you and I’m also excited about this opportunity.
I’ve spent all of life on the land in Tasmania, managing the breeding and grazing
operation here at TGV for twelve years, and I can honestly say that since
incorporating venison into my own diet, I’ve never been healthier. Venison is
certainly gaining popularity in today’s health-conscious consumer market. It is an
extremely lean meat and it is the perfect addition to a well-balanced diet. Venison
has far lower fat and cholesterol content than beef, lamb, pork or chicken. It is
high in polyunsaturates which are important in building a healthy body and
lowering harmful cholesterol. Venison is excellent for low-fat diets with only 207
calories per 100 grams. Venison is also high in protein and iron. I personally love
eating venison and I think Tasmanian consumers will too.
Alecia:
Can you tell us more about your vision for the business expansion please David?
David:
No problem. We’ve developed an image and reputation for quality, fresh organic
venison at competitive prices. Our business will continue to convey this image to
its two market segments—retail and wholesale. To the retail trade, we will
promote our convenient locations, the health benefits in the diet and the unique
taste of organic venison. It will complement our quality image with clean,
attractive facilities and excellent service. Specifically, we’re going to expand our
2
customer base to include specialty food markets and restaurants. The only direct
KBS ASSESSMENT 3 OUTLINE
competitors for organic venison products are two butchers in Hobart and one
butcher in Launceston. All three have previously bought their organic venison
from us and are likely to remain as wholesale customers.
Alecia:
Excellent. Andrew, how do we intend to promote these sales?
Andrew:
Primarily with newspaper advertising, lifestyle magazine advertising and retail
display. The business will make direct approaches to the wholesale trade. There
are 47 restaurants, 21 food markets and 18 specialist butchers constituting most
of the wholesale market. Emphasis will be on consistency of supply, convenient
location, daily delivery service, impeccable quality and volume discounts, plus a
comprehensive internet site to service both market segments.
David:
Very good. Let’s talk about the proposed outlets.
Andrew:
We have identified a property in Hobart available for lease for five years with
options to renew the lease for a further two five-year terms. It will require major
leasehold improvements, including interior decoration and installation of a walk-in
cold store. The building includes a 135 m2 sales area, a 12 m2 cutting room and
a further 80 m2 of space that is currently unused and available for expansion. We
can then establish a second outlet in Launceston once the Hobart outlet is
operational and cash positive.
Alecia:
How about staff?
Andrew:
We will initially employ two specialist game butchers for the Hobart outlet. The
duties of these positions will be to prepare organic meat products for both the
retail and wholesale trade. Four part-time sales assistants will be engaged at
award casual rates and their duties will be selling organic venison products over
the counter to retail customers. The Launceston outlet will be staffed with one
specialist game butcher and two sales assistants.
David:
Sounds great. Alecia, how about the numbers. Firstly, how are we planning to
spend the $500,000 loan?
Alecia:
We’ve budgeted $165,000 for new equipment, $245,000 for the leasehold
improvements and the remaining $90,000 for working capital.
David:
Right. Have you prepared a balance sheet and income statement?
Alecia:
Not yet but the figures look solid thanks to our conservative cash management
policy. For current assets we have $5,000 in cash, $100,000 in accounts
receivable, $150,000 in inventory, and $10,000 in prepaid expenses.
David:
How about non-current assets?
Alecia:
$100,000 in plant and equipment, $50,000 in accumulated depreciation,
$150,000 for buildings, and $300,000 in land.
David:
And liabilities?
Alecia:
Current or non-current?
David:
Both please.
KBS ASSESSMENT 3 OUTLINE
3
Alecia:
Sure. For current liabilities we have a $20,000 overdraft, $70,000 in accounts
payable, a $60,000 provision for taxes, and $15,000 in accrued expenses. For
non-current liabilities we have a term loan of $50,000 and a mortgage of
$150,000.
Andrew:
I know that as the company’s only shareholders all three of us contributed
$100,000 in capital so what do these figures put our retained earnings at?
Alecia:
$100,000.
David:
Wonderful. That’s a great position. And how well did we perform this year?
Alecia:
We’ve done well. We achieved $1,700,000 in sales revenue. Our beginning
inventory was $150,000, with $700,000 in purchases, and an ending inventory of
$120,000.
David:
What were our operating expenses?
Alecia:
We spent $200,000 on salaries, $70,000 on wages, $100,000 on marketing,
$80,000 on occupancy, $50,000 on administration, and $15,000 in interest.
David:
How much have we provided for income tax?
Alecia:
$80,000.
Andrew:
Do we have a plan to repay the $500,000 loan?
Alecia:
Yes. We plan to pay the loan off in three years.
David:
And how do we expect to achieve that?
Alecia:
We estimate the business expansion will increase our gross profit by 35%.
David:
Well that is all very impressive. Let’s take this to the team for them to develop
and deliver the business plan. Thanks all for your input today.
Alecia:
Thank you, David.
Andrew:
Thank you, David.
4
KBS ASSESSMENT 3 OUTLINE
Grading Scale
This assessment will be marked using the attached rubric.
Important Study Information
Academic Integrity Policy
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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 Assessments
Submissions 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.
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refer to the study help on the MyKBS Academic Success Centre page. You can find this by
clicking on the top page toolbar:
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COMMONWEALTH 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.
5
KBS ASSESSMENT 3 OUTLINE
F (Fail)
0%-49%
Criteria
P (Pass)
50%-64%
CR (Credit)
65%-74%
D (Distinction)
75% – 84%
HD (High Distinction)
85%-100%
ASSESSMENT CONTENT
Business Plan
Introduction/Overview
• Business Plan
• Marketing Plan
Business Plan
Operations Plan
• Business Plan
• Financial Plan
25
Introduction/Overview fails to
canvass relevant information
from meeting minutes including
breakdown of how funds will be
used and general description of
key personnel
Reasonable treatment of
Introduction/Overview
canvassing relevant information
from meeting minutes including
breakdown of how funds will be
used and general description of
key personnel
Inclusive treatment of
Introduction/Overview
canvassing relevant information
from meeting minutes including
breakdown of how funds will be
used and general description of
key personnel
In depth treatment of
Introduction/Overview
canvassing relevant information
from meeting minutes including
breakdown of how funds will be
used and general description of
key personnel
Extensive treatment of
Introduction/Overview
canvassing relevant information
from meeting minutes including
breakdown of how funds will be
used and general description of
key personnel
/6
Few specific market details
identified and described.
Customer and competitor details
not outlined. Understanding of
marketing plan purpose not
demonstrated.
Market details sufficiently
identified and described.
Customer and competitor details
sufficiently outlined.
Demonstration of basic level
understanding of marketing plan
purpose.
Market details broadly identified
and described. Customer and
competitor details broadly
outlined. Demonstration of
intermediate level understanding
of marketing plan purpose.
Market details well identified and
described. Customer and
competitor details well outlined.
Demonstration of high level
understanding of marketing plan
purpose.
Market details comprehensively
identified and described.
Customer and competitor details
comprehensively outlined.
Demonstration of advanced
level understanding of marketing
plan purpose.
/6
Few specific operations details
identified and described. Plant,
processes, and people details
not outlined. Understanding of
operations plan purpose not
demonstrated.
Operations details sufficiently
identified and described. Plant,
processes, and people details
sufficiently outlined.
Demonstration of basic level
understanding of operations
plan purpose.
Operations
Operations details broadly
identified and described. Plant,
processes, and people details
broadly outlined. Demonstration
of intermediate level
understanding of operations
plan purpose.
Operations details well identified
and described. Plant,
processes, and people details
well outlined. Demonstration of
high level understanding of
operations plan purpose
Few specific financial details
identified and described.
Liquidity and profitability details
not outlined. Understanding of
financial plan purpose not
demonstrated.
Financial details sufficiently
identified and described.
Liquidity and profitability details
sufficiently outlined.
Demonstration of basic level
understanding of financial plan
purpose.
Financial details broadly
identified and described.
Liquidity and profitability details
broadly outlined. Demonstration
of intermediate level
understanding of financial plan
purpose.
Financial details well identified
and described. Liquidity and
profitability details well outlined.
Demonstration of high-level
understanding of financial plan
purpose.
Reasonably accurate population
of Balance Sheet/Income
Statement
Accurate population of Balance
Sheet/Income Statement
Inaccurate population of
Balance Sheet/Income
Statement
Highly accurate population of
Balance Sheet/Income
Statement
/
Operations details
comprehensively identified and
described. Plant, processes, and
people details comprehensively
outlined. Demonstration of
advanced level understanding of
operations plan purpose.
Financial details
comprehensively identified and
described. Liquidity and
profitability details
comprehensively outlined.
Demonstration of advanced
level understanding of financial
plan purpose.
/6
/7
Precise population of Balance
Sheet/Income Statement
5
STRUCTURE FORMAT
Answer clearly and logically
presented
Mark
Serious 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….”
KBS ASSESSMENT 3 OUTLINE
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
/1
Appropriate theory and
research used to answer
question posed
The critique does not have
appropriate structure and lacks
direction. No significant
observations made from
appropriate theory and research.
Poor writing and expression of
arguments.
Reasonable critique which
examines the relevant issues
and makes reasonable
observations made from
appropriate theory and research.
Reasonable writing and
expression of argument
Good critique examines the
relevant issues and makes good
observations from appropriate
theory and research. Good
writing and expression of
arguments.
A very good critique
considered all the relevant
issues and made important
observations made from
appropriate theory and
research. Very good writing
and expression of arguments.
Fully considered all the relevant
issues and made significant
observations made from
appropriate theory and research.
Excellent writing and expression
of arguments.
/
/1
Correct academic writing
style used, including correct
spelling, grammar and
punctuation
Needs 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 phrasing
Sentence 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 phrasing
Sentence 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.
/1
Format of answer consistent No efforts made to follow
with question requirements
submission and editing, spacing,
etc requirements
and KBS guidelines
Meets 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.
/1
Word count is within + / 10% of requirement
Word count is within + / – 15% of
requirement
Word count is within + / – 10% of
requirement
Word count is within + / – 5% of
requirement
Word
Word count is within + / – 0% of
requirement
/1
Word count is within + / – more
than 15% of requirement
Comments
KBS ASSESSMENT 3 OUTLINE
BUSINESS PLAN TEMPLATE
Cover Sheet
 Date
 Business Name
 Prepared by [Your Name]
Executive Summary
Business Overview
 Company Background / location and facilities / key personnel
 Business Description
 How the business is structured
 Main Offering(s)
 Business Model
 Developments to Date
 Future Developments
Ownership – Shareholding
 Intellectual Property Protection
Business Strategy
 Industry Analysis
 Market Entry Strategy
 Strategic Analysis
 Acquisition or Exit
Marketing Plan
 Product and Service Offering(s)
 Target market (e.g., niche, size, potential customers)
 Competitive Analysis
 Market Opportunity
 Value Proposition
 Pricing Model
 Promotional Plan
Operational Plan / Strategy
 How will the business go about performing its tasks? Plant? Processes? People?
…
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