| Student Assessment Tool | |||||
| Unit Details | BSBSTR602 – Develop organisational strategies | ||||
| Assessment Type | This is a summative assessment, which requires each student to have adequate practice prior to undertaking this assessment | ||||
| Assessment Methods | Knowledge questions | Assessment 1 | |||
| Project | Assessment 2 | ||||
| Last Modification Date | Oct 2022 | ||||
| Proposed Review Date | Oct 2023 | ||||
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Business Works is a series of training and assessment resources developed for qualifications within the Business Services Training Package.
Introduction
The assessment tasks for BSBSTR602 Develop organisational strategies are outlined in the assessment plan below. These tasks have been designed to help you demonstrate the skills and knowledge that you have learnt during your course.
Please ensure that you read the instructions provided with these tasks carefully. You should also follow the advice provided in the Business Works Student User Guide. The Student User Guide provides important information for you relating to completing assessment successfully.
Assessment for this unit
BSBSTR602 Develop organisational strategies describes the skills and knowledge required to establish the strategic direction of the organisation, sustain competitive advantage, and enhance competitiveness. It covers analysis and interpretation of relevant markets, capability assessment of the organisation and analysis of the organisation’s existing and potential competitors and allies. It also covers implementing the strategic plan and developing specific actions and initiatives that will be undertaken by people working in various roles.
For you to be assessed as competent, you must successfully complete two assessment tasks:
- Assessment Task 1: Knowledge questions – You must answer all questions correctly.
- Assessment Task 2: Project – You must work through a range of activities and complete a project portfolio.
Student assessment agreement
Make sure you read through the assessments in your student assessment booklet before you fill out and sign the agreement below.
If there is anything that you are unsure of, consult your assessor prior to signing this agreement.
| Have you read the assessment requirements for this unit? | ¨ Yes | ¨ No |
| Do you understand the requirements of the assessments for this unit? | ¨ Yes | ¨ No |
| Do you agree to the way in which you are being assessed | ¨ Yes | ¨ No |
| Do you have any specific needs that should be considered | ¨ Yes | ¨ No |
| If so, explain these in the space below. |
| Do you understand your rights to reassessment? | ¨ Yes | ¨ No | ||
| Do you understand your right to appeal the decisions made in an assessment? | ¨ Yes | ¨ No | ||
| Student name | ||||
| Student ID number | ||||
| Student signature | ||||
| Date | ||||
| Assessor name | ||||
| Assessor signature | ||||
| Date | ||||
Assessment Task 1 – Cover Sheet
Student declaration
To be filled out and submitted with assessment responses
- I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded with any other student(s).
- I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me according to the process explained to me.
- I have correctly referenced all resources and reference texts throughout these assessment tasks.
| Student name | |
| Student ID number | |
| Student signature | |
| Date |
Assessor declaration
- I hereby certify that this student has been assessed by me and that the assessment has been carried out according to the required assessment procedures.
| Assessor name | ||||||
| Assessor signature | ||||||
| Date | ||||||
| Assessment outcome | S | NS | DNS | Resubmission | Y | N |
Feedback
Student result response
- My performance in this assessment task has been discussed and explained to me.
- I would like to appeal this assessment decision.
| Student signature | |
| Date |
A copy of this page must be supplied to the office and kept in the student’s file with the evidence.
| Assessment Task 1: Knowledge questions |
Knowledge questions are designed to help you demonstrate the knowledge which you have acquired during the learning phase of this unit. Ensure that you:
- review the advice to students regarding answering knowledge questions in the Business Works Student User Guide
- comply with the due date for assessment which your assessor will provide
- adhere with your RTO’s submission guidelines
- answer all questions completely and correctly
- submit work which is original and, where necessary, properly referenced
- submit a completed cover sheet with your work
- avoid sharing your answers with other students.
|
Assessment information
Information about how you should complete this assessment can be found in Appendix A of the Business Works Student User Guide. Refer to the appendix for information on: · where this task should be completed · the maximum time allowed for completing this assessment task · whether or not this task is open-book. Note: You must complete and submit an assessment cover sheet with your work. A template is provided in Appendix C of the Student User Guide. However, if your RTO has provided you with an assessment cover sheet, please ensure that you use that. |
Questions
Provide answers to all of the questions below:
- Give three examples of risks that should be considered in developing and implementing strategic plans.
| In order to create and carry out strategic plans that will result in good outcomes, risk assessment is essential. Financial risks like unforeseen expenses or revenue shortages, operational risks like technical setbacks or supply chain interruptions, and regulatory risks like changes in laws or regulations that could have an impact on the firm are a few examples of risk thet is defined with the Inadequate risk management could have detrimental effects on the organisation, including financial losses and reputational harm (Shanafelt, et al., 2019). |
- Give two examples of risk management strategies that can be used when developing and implementing strategic plans.
| In order to reduce potential risks when creating and carrying out strategic plans, risk management methods are crucial. Risk transfer, where the organisation transfers the risk to another party, as through insurance or outsourcing, and risk avoidance, where the organisation chooses to avoid actions or decisions that could result in large risks, are two examples of risk management strategies. The organisation can assure the success of their strategic plans and lessen the possibility and impact of potential hazards by putting these strategies into practise (Hillmann & Guenther, 2021). |
- Give an example of a risk management strategy that can be used to manage intellectual property risks inherent in strategic planning.
| Creating intellectual property protections like patents, trademarks, or copyrights is one risk management technique for handling intellectual property risks in strategic planning. These safeguards provide the company the option to file a lawsuit if necessary and serve to dissuade rivals from violating its intellectual property. The company can also put internal rules and processes in place to protect its intellectual property and make sure that all of its staff members are aware of how important it is to do so. The organisation can lower the danger of intellectual property theft or infringement and safeguard their priceless assets by utilising these tactics. |
- Outline the benefit of conducting a SWOT analysis as part of a strategic planning process and how a SWOT analysis is conducted.
| A SWOT analysis can give important insights into the organization’s internal and external environment as part of the strategic planning process. A SWOT analysis has the advantage of making it easier to pinpoint strengths, weaknesses, opportunities, and threats, which can guide the creation of strategic goals and initiatives. The organisation must determine internal elements, such as strengths and weaknesses, and external factors, such as opportunities and threats, before conducting a SWOT analysis. The organisation can better comprehend its current situation and create strategies to achieve its objectives by analysing these elements (Fuertes, et al., 2020). |
- Outline four examples of questions that could be used when conducting a SWOT analysis.
| What are the things according to you are best into the workplace?
What are the things they are avoid fr the lack of the work plan and confidence into the company? What are the factors and obstacles they are face. What is their strength and their opportunity in the workplace and the workplace? |
- Outline the benefit of conducting a PEST analysis as part of a strategic planning process and how a PEST analysis is conducted.
| They need to defined the work plan and developed the understanding of the scope into thee workplace. Also they need to defined the work for the workplace and work assumption they are required for the scope management and the development of the scope. |
- Outline four examples of questions that could be used when conducting a PEST analysis.
| What political issues, such as laws or regulations, might have an impact on the organization’s operations?
What economic variables, such as inflation or unemployment rates, might have an impact on the company’s financial performance? What societal elements, such as shifting demographics or cultural fads, might have an impact on the clientele of the company? What technical developments, such as new discoveries or advances in digital technology, might have an impact on the organization’s industry? |
- List two internal sources of information that a business could use to find out about its market, competitors, customer base, vision, values, and capabilities.
| Sales and customer information: Companies can examine their sales and customer information to learn more about their clientele, including their demographics, preferences, and purchasing habits. The business can use this information to create marketing plans and product lineups that appeal to their target demographic.
Employee input: Employees can offer insightful commentary about the company’s mission, principles, and skills. For instance, they can have perceptions regarding the company’s advantages and disadvantages or suggestions for enhancing procedures or goods. The company can gain a deeper understanding of its internal environment and make data-driven decisions by asking for and utilising employee feedback. |
- List two external sources of information that a business could use to find out about its market, competitors, customer base, vision, values, and capabilities.
| Reports on market research: These reports give in-depth details on market trends, consumer behaviour, and competition analyses, enabling companies to keep informed about the market and make data-driven decisions.
Social media platforms: Businesses may obtain real-time consumer input, brand mentions, and market trends thanks to social media platforms. Businesses can learn important information about their consumer base and modify their tactics by keeping an eye on social media outlets. |
- Explain the purpose of developing organisational values and two techniques that could be used to identify values as part of the strategic planning process.
| Establishing organisational values aims to provide a common understanding of what matters to the organisation and serve as a decision-making framework. Surveys or focus groups to get employee opinion and analysis of successful past actions to uncover common themes or values. |
- List two methods for conducting a capability assessment.
| SWOT analysis: SWOT analysis is a tool for determining an organization’s assets and liabilities, which may be used to design plans to capitalise on assets and correct deficiencies.
Competency frameworks: By evaluating staff skills and competencies, competency frameworks may make sure that the organisation has the resources necessary to meet its strategic objectives (Hamadamin & Atan 2019). |
- Complete the table to list general strengths and weaknesses to consider when analysing existing and potential competitors.
| Strengths | 1. a well-known and reputable brand
2. access to capital and financial resources 3. distinctive intellectual property or exclusive technologies |
| Weaknesses | 1. limited client base or market share
2. poor reputation or brand recognition 3. limited capital or financial resources |
- Summarise key features of cooperative ventures, including:
- a description of what a cooperative venture entails
- risks and benefits
- planning process to establish a cooperative venture.
| a corporate partnership where several organisations cooperate to achieve a common objective.
Reduced costs, increased competitiveness, sharing resources and expertise. Potential for partner disputes and a lack of control over the business. Identifying partners, defining goals and objectives, creating a detailed business plan, and creating a legal and governance framework are all steps in the planning process. |
- What are the key features and do included in a due diligence process? Include:
a definition of due diligence
- at least five elements (e.g., stockholder information) to be included in the due diligence process.
| o Reviewing financial statements and projections in order to evaluate the strength and viability of the company’s finances.
o Assessing legal risks through reviewing contracts, licences, and regulatory compliance. o Reviewing organisational structure, procedures, and systems in order to evaluate operational hazards is known as operational information. o Information for stockholders: Examining the ownership and governance structure to evaluate ownership and control-related risks (Hanelt, et al., 2021). |
- Explain the process for conducting a cost benefit analysis. Include:
| Establish the parameters of the due diligence procedure and put together a team of professionals to carry out the inquiry.
Information gathering: Gather information that is pertinent, such as financial, legal, operational, and market data, regarding the target company. Review and analysis will be done to find hazards and opportunities in the material gathered (Herbane, 2019). Reporting: Write a report outlining the results of the due diligence study and offering suggestions for subsequent action There are two ways to represent information: Information can be displayed in tables, which give the data a clean, organised perspective and make comparison and analysis easier. Information can be displayed graphically in the form of graphs, charts, and diagrams that help the viewer see trends, patterns, and connections in the data. |
References
Hanelt, A., Bohnsack, R., Marz, D., & Antunes Marante, C. (2021). A systematic review of the literature on digital transformation: Insights and implications for strategy and organizational change. Journal of Management Studies, 58(5), 1159-1197.
Fuertes, G., Alfaro, M., Vargas, M., Gutierrez, S., Ternero, R., & Sabattin, J. (2020). Conceptual framework for the strategic management: a literature review—descriptive. Journal of Engineering, 2020, 1-21.
Hillmann, J., & Guenther, E. (2021). Organizational resilience: a valuable construct for management research?. International Journal of Management Reviews, 23(1), 7-44.
Hamadamin, H. H., & Atan, T. (2019). The impact of strategic human resource management practices on competitive advantage sustainability: The mediation of human capital development and employee commitment. Sustainability, 11(20), 5782.
Herbane, B. (2019). Rethinking organizational resilience and strategic renewal in SMEs. Entrepreneurship & Regional Development, 31(5-6), 476-495.
Shanafelt, T., Trockel, M., Ripp, J., Murphy, M. L., Sandborg, C., & Bohman, B. (2019). Building a program on well-being: key design considerations to meet the unique needs of each organization. Academic Medicine, 94(2), 156-161.
Assessment Task 1: Checklist
| Student’s name: | ||||
| Did the student provide a sufficient and clear answer that addresses the suggested answer for the following? | Completed successfully? | Comments | ||
| Yes | No | |||
| Question 1 | ||||
| Question 2 | ||||
| Question 3 | ||||
| Question 4 | ||||
| Question 5 | ||||
| Question 6 | ||||
| Question 7 | ||||
| Question 8 | ||||
| Question 9 | ||||
| Question 10 | ||||
| Question 11 | ||||
| Question 12 | ||||
| Question 13 | ||||
| Question 14 | ||||
| Question 15 | ||||
| Task outcome: | ¨ Satisfactory | ¨ Not satisfactory | ||
| Assessor signature: | ||||
| Assessor name: | ||||
| Date: | ||||
Assessment Task 2 – Cover Sheet
Student declaration
To be filled out and submitted with assessment responses
- I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded with any other student(s).
- I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me according to the process explained to me.
- I have correctly referenced all resources and reference texts throughout these assessment tasks.
| Student name | |
| Student ID number | |
| Student signature | |
| Date |
Assessor declaration
- I hereby certify that this student has been assessed by me and that the assessment has been carried out according to the required assessment procedures.
| Assessor name | ||||||
| Assessor signature | ||||||
| Date | ||||||
| Assessment outcome | S | NS | DNS | Resubmission | Y | N |
Feedback
Student result response
- My performance in this assessment task has been discussed and explained to me.
- I would like to appeal this assessment decision.
| Student signature | |
| Date |
A copy of this page must be supplied to the office and kept in the student’s file with the evidence.
| Assessment Task 2: Project |
Information for students
In this task, you are required to demonstrate your skills and knowledge by working through a number of activities and completing and submitting a project portfolio.
You will need access to:
- your learning resources and other information for reference
- Project Portfolio template
- Simulation Pack (if you need a case study)
- if using your own business:
- numerical information to analyse current industry trends and perform a cost-benefit analysis for establishing a joint venture
- information to monitor and evaluate your implemented plan
- internal and external stakeholders willing to meet with you (the meeting is viewed by your assessor).
Ensure that you:
- review the advice to students regarding responding to written tasks in the Business Works Student User Guide
- comply with the due date for assessment which your assessor will provide
- adhere with your RTO’s submission guidelines
- answer all questions completely and correctly
- submit work which is original and, where necessary, properly referenced
- submit a completed cover sheet with your work
- avoid sharing your answers with other students.
|
Assessment information | |
| Information about how you should complete this assessment can be found in Appendix A of the Business Works Student User Guide. Refer to the appendix for information on:
· where this task should be completed · how your assessment should be submitted. Note: You must complete and submit an assessment cover sheet with your work. A template is provided in Appendix B of the Student User Guide. However, if your RTO has provided you with an assessment cover sheet, please ensure that you use that. |
Activities
Complete the following activities:
- Carefully read the following:
| This project requires you to develop and implement a strategic plan for an organisation. | |
| Vocational education and training is all about gaining and developing practical skills that are industry relevant and that can help you to succeed in your chosen career. For this reason, we are giving you the choice to base this project on your own business, one you work in or a familiar with, or you can use the case study provided. This will mean that you are applying your knowledge and skills in a relevant, practical, and meaningful way to your own situation! | |
| It is important that you can access enough information for your chosen business to be able to do your assessment. As a minimum this should include:
· numerical information to analyse current industry trends and perform a cost-benefit analysis for establishing a joint venture · information to monitor and evaluate your implemented plan (such as actual sales, whether initiatives were implemented etc.) · internal and external stakeholders willing to meet with you (where the meeting is viewed by your assessor). |
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| You will be collecting evidence for this unit in a Project Portfolio. The steps you need to take are outlined below. |
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Preparation
| Make sure you are familiar with the organisation you are basing this assessment on and have read through the necessary background information. For the case study business, this is all the documents included in the Simulation Pack. If it’s your own business or a business where you are working or are familiar with, have your business or case study approved by your assessor.
Complete Page 4 of your Project Portfolio for this unit. Read through the requirements of Section 1, 2 and 3 of your Project Portfolio. |
| Start working on Section 1 of your Project Portfolio. |
- Prepare to develop a strategic organisational plan
| Complete Section 1 of your Project Portfolio. To do this, you need to:
· describe your organisation, its main activities and its strategic direction, vision, mission, and objectives · identify internal and external stakeholders who will contribute to the strategic planning process and explain how they are involved · identify and summarise organisational, legislative, regulatory and codes of practice requirements · research your organisation’s external environment, including the representation of numerical information to identify trends · undertake PEST analysis · identify and summarise best practice examples · undertake SWOT analysis · conduct a capability assessment of a competitor. |
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| Make sure you have answered all questions in Section 1.
You are required to attach certain documents as part of your evidence – review the documents you need to attach as outlined in Section 1 of the Project Portfolio. Submit Section 1 to your assessor. |
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| Start working on Section 2 of your Project Portfolio. Steps 4 to 7 form part of Section 2. | |
- Meet with relevant internal stakeholders
| Meet with at least one internal stakeholder to:
· discuss any required changes to the vision/mission/values of your organisation · seek support for the strategic planning process · agree on a milestone when to revisit the strategic plan and evaluate the achievement of objectives · discuss your research and analysis (from Section 1 of your Project Portfolio) · seek and respond to feedback from the stakeholders on your analysis of the internal and external environments · demonstrate effective communication skills to: o present information and seek advice using language and register to suit the audience (i.e., formal business language and industry appropriate terminology). o seek the views of the stakeholders and clarify/confirm your understanding of their views using listening and questioning techniques. |
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This meeting should take 20 minutes. It may take place with actual people who work for/are associated with your chosen organisation. Alternatively, classmates or your assessor may play the role of one or more stakeholders.
This can either be viewed in person by your assessor (in person or online) or you may like to video record the session for your assessor to watch later. Your assessor can provide you with more details at this step. Make sure you follow the instructions below and meet the timeframes allocated. If this session is not viewed in person by your assessor, you will attach proof of the meeting to Section 2 of your Project Portfolio. If you are basing this assessment on the case study, you will meet the CEO in a role-play scenario. |
- Develop and distribute a strategic organisational plan
| First:
· develop or revise organisational values to support the vision and mission of your organisation. · develop at least two objectives/strategies relevant for the future of the organisation including a description of the strategy, responsible stakeholders, priority of the strategy, timeframe, actions required, measurable performance indicators and risks associated with the strategy. · create a strategic operational plan. |
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| Then, distribute your strategic plan to all relevant stakeholders to brief all parties and seek feedback/endorsement. | ||
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If you are basing this assessment on your own business, communication can take place in any appropriate format as long as it adheres to organisational requirements (e.g., video of team meeting where copies of the strategic plan are handed out, draft email with link to cloud-based storage location etc).
If you are basing this assessment on the case study, draft an email to the executive team. |
- Establish a cooperative venture
| Establish one cooperative venture considering the organisational vision/mission/values and including risks, cost-benefit analysis, and due diligence. | ||
| Communicate with an external stakeholder (e.g., CEO of joint venture firm) to confirm the establishment of the joint venture, considering your organisation’s vision, mission and values. | ||
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If you are using your own business, communication can take place in any appropriate format as long as it adheres to organisational requirements (e.g., draft email to the CEO of the joint venture or face-to-face meeting).
If you are using the case study, draft an email to the owners of the business confirming the establishment of the venture and outline the details. |
- Develop a risk management plan
| Include at least two risks (from the strategies and actions in the strategic organisational plan or from the cooperative venture) in a risk management plan. | |
| Make sure you have answered all questions in Section 2.
You are required to attach certain documents as part of your evidence – review the documents you need to attach as outlined in Section 2 of the Project Portfolio. Submit Section 2 to your assessor. |
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| Start working on Section 3 of your Project Portfolio. Steps 8 to 10 form part of Section 3. | |
- Monitor the strategic organisational plan
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Assume that time has passed, and the strategic plan needs to be reviewed. | |
| Monitor the implementation of the strategic plan using performance indicators and make refinements to the strategic plan. |
- Evaluate achievement of objectives
| Meet with relevant stakeholders to evaluate the achievement of objectives of the strategic plan at the time of the agreed-on milestone (for the case study, this is one year). | ||
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This meeting should take 10 minutes. It may take place with actual people who work for/are associated with your chosen organisation. Alternatively, classmates or your assessor may play the role of one or more stakeholders.
This can either be viewed in person by your assessor (in person or online) or you may like to video record the session for your assessor to watch later. Your assessor can provide you with more details at this step. Make sure you follow the instructions below and meet the timeframes allocated. If this session is not viewed in person by your assessor, you will attach proof of the meeting to Section 3 of your Project Portfolio. If you are basing this assessment on the case study, you will meet the CEO in a role-play scenario. |
- Review effectiveness of the strategic planning process
| Review the effectiveness of your strategic plan and the strategic planning process. Also seek advice from an appropriate expert to improve the strategic planning process (via a draft email) and identify a method to use in future to improve the strategic planning process. | ||
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To seek advice from an expert, do research to identify an actual person who could provide you with advice (e.g., a partner at a real consultancy firm) and then draft an email to that person to seek the advice. |
- Submit your completed Project Portfolio
| Make sure you have completed all sections of your Project Portfolio, answered all questions, provided enough detail as indicated and proofread for spelling and grammar as necessary. Remember to submit all necessary attachments as indicated. |
Assessment Task 2: Checklist
| Student’s name: | |||||
| Did the student: | Completed successfully? | Comments | |||
| Yes | No | ||||
| Prepare to develop a strategic organisational plan by:
· describing the organisation, its main activities, its strategic direction, vision, mission, and objectives · identifying internal and external stakeholders · summarizing organisational, legislative, regulatory and codes of practice requirements · researching their organisation’s external environment · using numerical information to identify trends · undertaking PEST analysis · identifying and summarising best practice examples · undertaking SWOT analysis · conducting a capability assessment of a competitor? |
|||||
| Develop a strategic organisational plan by:
· meeting with all relevant stakeholders to discuss: o any required changes to the vision/mission/values of the organisation o seek support for the strategic planning process o agree on a milestone to revisit the strategic plan and evaluate the achievement of objectives o seek and respond to feedback from relevant stakeholders on the analysis of the internal and external environments · developing or revising organisational values to support the vision and mission of your organisation · developing at least two objectives/strategies relevant for the future of the organisation including o a description of the strategy o responsible stakeholders o priority of the strategy o timeframe o actions required, o measurable performance indicators o risks associated with the strategy · creating a strategic operational plan · distributing their strategic plan to all relevant stakeholders to: o brief all parties o seek feedback/endorsement · establishing and communicating one cooperative venture considering the organisational vision/mission/values, risk, cost-benefit analysis and due diligence requirements · develop a risk management plan? |
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| Monitor the strategic organisational plan by:
· monitoring and assessing the implementation of the strategic plan using performance indicators · making refinements to the strategic plan · evaluating the achievement of objectives at the agreed-on milestone with relevant stakeholders · reviewing the effectiveness of the strategic plan and the strategic planning process · seeking advice from an appropriate expert to improve the strategic planning process · identifying a method to use in future to improve the strategic planning process? |
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| Demonstrate effective oral communication skills, including:
· present information and seek advice using language and register to suit the audience · elicit the views of others and clarify/confirm understanding using listening and questioning techniques? |
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| Task outcome: | ¨ Satisfactory | ¨ Not satisfactory | |||
| Assessor signature: | |||||
| Assessor name: | |||||
| Date: | |||||
| Final results record |
| Student name: | |
| Assessor name: | |
| Date |
Final assessment results
| Task | Type | Result | ||
| Satisfactory | Unsatisfactory | Did not submit | ||
| Assessment Task 1 | Knowledge questions | S | U | DNS |
| Assessment Task 2 | Project | S | U | DNS |
| Overall unit results | C | NYC | ||
Feedback
- My performance in this unit has been discussed and explained to me.
- I would like to appeal this assessment decision.
Student signature: ___________________________________________ Date: _________________
- I hereby certify that this student has been assessed by me and that the assessment has been carried out according to the required assessment procedures.
Assessor signature: _________________________________________ Date: _________________