Global Business and Investments

Table of Contents

Introduction. 3

Biotechnological medical products industry overview in Germany. 3

Application of different frameworks. 5

PESTEL analysis model 6

Alternative approaches to entry into new country. 8

Best methods to enter successfully in new country. 9

Conclusion. 10

References. 11

 

 

 

Introduction

In this study, effective expansion of the businesses to an international market will be evaluated in the context of a new biotechnological medical products organization that has unique products. Germany has been recently identified as a biotechnological hub for the organizations so the business will be extended to Germany which is in Europe and has constantly rapidly increased the market of biotechnological products. The growth and overview of the German market will be discussed in this study as well as a pestle analysis will be presented to identify the political-economic social technology, environmental and legal elements of the German market to identify the effectiveness of business expansion there. Also, the most commonly used appropriate alternative approaches for entering the market will be discussed and their strategic alliance in partnership would be considered the most appropriate and best method for the biotechnological medical products company to enter the German market.

Biotechnological medical products industry overview in Germany

In the European Union, the biotechnological industry has been rapidly increasing in the past few decades. Europe has been playing an important role in the continuous growth and development of the biotechnological industry as several European companies are effectively playing an important and strong role to offer better growth and dynamics to the industry(Dubrall, et al, 2018). When it comes to identifying the growth of biotech companies in Europe, it has been identified that around 988 companies are currently operating in these areas and the following graph will be helpful to identify the breakdown of these biotech companies in different areas of Europe.

Source: McKinsey, (2022)

When it comes to expanding the business to the international market, it is very important to understand which countries are having a higher demand for biotechnological products and services.In recent years Germany has quickly become quite popular among the leading countries of Europe which has a focus on the biotechnological industry. It has been identified that Germany has different organizations and research institutions which are based on biotechnology to effectively offer better biotechnological solutions to the customers. Currently, in Germany, there are 202 research facilities for biotechnological practices (McKinsey, 2022). The biotechnological industry of Germany has been booming as currently, more than 50000 employees are working in more than 660 highly dedicated biotech companies in 2019. The following graph will be helpful to identify the development in the revenues earned by the biotech industry in Germany from the year 1999 to 2020.

Development of revenues in the biotech industry in Germany from 1999 to 2020(in million euros)

Source:statista., (2020)

The graph indicates that the revenue has been increasing and the past years and currently there is about £6486 million in revenue generated in the year 2020 from the biotechnological industry. Also, the biotechnological industry has increased its turnover by 14% in the previous year as these companies are playing an important role in fighting the symptoms of covid-19. However the biotechnological industry of the United States of America and China are far more advanced but Germany is also considered one of the leading medical biotech nations around the world (statista, 2020).

After the evaluating the growth of the biotechnological industry and revenue generated in the past few years, it becomes easier to understand that for establishing a new unique biotechnology-based medical product company in the international market, Germany would be considered one of the most appropriate choices especially during the post Brexit era because it has lesser effects of Brexit and also the country quickly recover from these challenges (Kamusheva, et al, 2018).

Application of different frameworks

When it comes to expanding the business or launching the business in a new country, it is much more important for the organization to effectively use different frameworks as they can help to evaluate the new country on various parameters. For evaluating Germany as a better expanding location for the new biotechnological medical organization, following PESTEL analysis frameworks is an effective framework.

PESTEL analysis model

For evaluating the external business environment of any country, it is helpful to identify the current status of some of the external elements which offer a better understanding of the market. This analysis will include the effective evaluation of the political, social, environmental, economic, technological, and legal aspects that helps to identify the external business environment for the new organization which expanding its businesses in Germany.

Political – When it comes to the German political environment, it has been identified that it is a democratic republic where the president is the head of the state and the prime minister does not have an identical role like other democracies. The nearby countries include Sweden Denmark Netherlands Austria Poland and the Czech Republic. It has been identified that the German government has been considered liberal in terms of import exports and FDI. The government is highly appreciating the foreign brands which want to bring business into Germany as it can bring better than effective economic conditions to the country (Paster, 2018). The government has been offering various types of attraction factors and facilities to foreign companies.

Economic – Germany is the fourth-largest economy in the world and despite different types of manufacturing and industrial production-related issues, the country has been maintaining its effective economic growth. In the years 20-21, the gross domestic product GDP is estimated at £3570.62 billion. The country has been known for its focused exports competitiveness, global networking as well as innovativeness which have been playing an important role in increasing the GDP and economic growth of the country over the years. Germany has a very good health ratio however its unemployment rate is very low because the workforce costs are higher. The corporate tax rate is approximately 15% and subs also had to pay a search or 5.5% with a trade rate of 14 to 17%. The employees of different organizations have been receiving different benefits and higher salaries along with different facilities. Due to that, it is easier to find a skilled and trained workforce there.

Social – in the context of the social life in Germany it has been identified that it is considered one of the best countries to live in the aspect of education, quality of life, health, wealth, employment opportunities, and others. In 20-21, the population was more than 84 million and the life expectancy rate for women is 83 years and for men, it is 78 years. Germany also has the lowest birth rates and an increasing number of retired people are also a concern. The main sociological factors of German society include privacy, hard-working attitude, perfectionism, punctuality, and diligence. It helps to understand that the German people are openly welcoming and easy to adapt so it would be easier to expand the business there (Gabrieland Bitsch, 2018).

Technological – Germany is the fifth-best technologically highly advanced country in the world and the country has a higher investment in innovations, technology, and creativity. Currently, research and innovation have been practiced in different markets such as military technology medicine biotechnology. More than 1 million people are doing their job in technology sectors and the global market share of technological industries, Germany holds around 14% global share. The German government has invested around 3 billion euros for 2025 to be spent on research and development programs on artificial intelligence technology. It is indicating that not only the German government but also the population has strong knowledge and interest in technology products/ services so it would be easier for the organization to expand the business in Germany.

Environmental – The Government of Germany has become serious about the environmental aspects of the country. It has been identified that tourism is one of the major industries in the country and the first few years due to the poor tourism practices, different environmental challenges have been faced by Germany which include water air pollution, industrial waste damaging forests acid rain, and other automobile exhaustion. Because of these global warming and climate change issues the country has been facing different natural disasters such as floods in July 2021. The German government has been initiating a high number of rules and regulations which are very necessary to be followed by the businesses that are operating there to manage the environmental damages (Doluca, et al, 2018).

Legal – in the context of the legal landscape of Germany, it has been identified that German law is quite similar for the local and international companies doing business in the country. The German laws are promoting different types of businesses among locals /nationals and foreigners. It would be helpful for the businesses to follow all the regulations and laws of the government such as the minimum wage law. Overall the legal escape of Germany is easier to follow and support the business is expanding as well.

Alternative approaches to entry into a new country

There are different types of methods that can be used for entering the international market. The organizations need to become aware of these entry modes for international expansion so that it would be easier for the organization to effectively select the most appropriate expansion method for the business. The following are the most commonly used and popular international extension entry modes.

Exporting – exporting is considered one of the easiest and most commonly used methods for entering an international market and most large-scale companies have started exporting the production services from their home country to the target country. It is fast and remote which has lower risk however it does not help to manage effectively with control and the transportation cost becomes increased. Also, the dependability of the supply chain system would increase (García-Canal, et al, 2018).

Licensing and franchising – franchising and licensing are considered an appropriate mode of entry especially for international brands because it is a very fast mode of entry. It has low risk and low cost of entering. However, in franchising licensing, the control would be lesser and the company has to face higher local competition. Also, the legal regulations are much stricter for franchises.

Strategic alliance and partnering – When it comes to entering into a new foreign market, developing a strategic alliance or partnership with the local domestic partner is considered one effective mode of entry. It includes a mutual contract or agreement which defines the common purpose, roles, and responsibilities along with duties. It reduces the cost as well as the risk because the local support has been received for the business expansion. However, it has a higher cost than exporting and franchising. Also, integration and conflict-related issues can be faced in the future.

Acquisition – To expand the business into the international market and acquire the local businesses in the same industry, there is also one effective mode of entry however it requires a lot of legal complications and financial requirements to follow this mode of entry. It offers established and noon operations in the local market and due to that it is considered a fast Andrew mode however it could include the integration-related issues between the two companies. When it comes to the large-scale organizations who want to expand their business into international land it could be considered one effective method for them as they do not have financial complications and an effective legal team would handle all the complications raised in the future.

Greenfield venture – The Greenfield venture is referred to as launching a completely new wholly-owned subsidiary business into the new country. It is potentially costly and complex but the company can own complete control over various activities and at the same time, higher revenue generation and returns can be expected with this entry mode. When it comes to establishing a new business in a new market the cost and risk are two factors that are always higher but it is important to have all the knowledge and experts of the existing market as well as the potential market growth to manage the competition and run the business effectively (Schwens, et al, 2018). It would be better for the organizations to hire a domestic local consultant to manage all the risks and costs associated with the Greenfield venture entry mode.

Best methods to enter successfully in new country

When it comes to the biotechnological medical products company entering into the German market, the following are the best methods for the organization to enter into a new country.

Strategic alliance and partnership – As the company has been operating on a small scale but the technology which the company is using to develop its medical products is very unique and advanced so it would be better for the organization to develop a strategic alliance and partnership with any of the domestic organizations which are also operating in the similar field. However, the organization needs to understand the importance of doing some effective R&D in the market. Developing strategic alliances and partnerships with the local domestic partners would be considered easier for the organization and the company can also have local support from the businesses as well as the cost rules and responsibilities can be divided which impacted positively on the business expansion. Also, the agreements and mutual contracts would make it easier for the organizations to effectively collaborate and coordinate to manage their functions. It has been identified that since the biotechnological medical organization has been operating on a small scale so for expanding into a new country the company requires a high amount of strategic direction planning and support from the locals not only to establish the company but also to run the operations in a much more effective manner (Liu, 2018). It is also considered a cost-effective method which is beneficial for the organization as they can divide the cost and efforts for running in establishing the business in Germany.

Conclusion

The biotechnological medical products industry of Germany has been evaluated in the context of expanding the business into Germany. It has been identified that despite Brexit the country has been identified as having higher growth in the biotechnological medical industry so it is considered one appropriate location internationally to expand the business. An effective biotechnological medical products industry has been evaluated which helps to identify that the growth of this industry has been rapidly increasing in past periods. Also, different frameworks such as pastel analysis have been used to identify the effectiveness of the German market in terms of extending the business there. The evaluation included effective elements of the external business environment such as political, economic, social technology, environmental and legal. Different alternative approaches to entering a new country have been discussed which include export licensing/ franchising, strategic alliance, acquisition, and Greenfield ventures. After evaluating all these modes of entry it has been identified thatalliance and partnership would be considered the most appropriate entry mode for the biotechnological company to explain their business in Germany.

 

 

References

Doluca, H., Wagner, M. and Block, J., 2018. Sustainability and environmental behaviour in family firms: A longitudinal analysis of environment‐related activities, innovation and performance. Business Strategy and the Environment, 27(1), pp.152-172.https://www.researchgate.net/publication/320718586_Sustainability_and_Environmental_Behaviour_in_Family_Firms_A_Longitudinal_Analysis_of_Environment-Related_Activities_Innovation_and_Performance_Sustainability_in_Family_Firms_A_Longitudinal_Analysis

Dubrall, D., Schmid, M., Alešik, E., Paeschke, N., Stingl, J. and Sachs, B., 2018. Frequent adverse drug reactions, and medication groups under suspicion: a descriptive analysis based on spontaneous reports to the German Federal Institute for Drugs and Medical Devices from 1978 to 2016. DeutschesÄrzteblatt International, 115(23), p.393.https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6041966/

Gabriel, A. and Bitsch, V., 2018. Impacts of succession in family business: A systemic approach for understanding dynamic effects in horticultural retail companies in Germany. Journal of Small Business and Enterprise Development.https://www.emerald.com/insight/content/doi/10.1108/JSBED-01-2018-0030/full/html

García-Canal, E., Guillén, M.F., Fernández, P. and Puig, N., 2018. Imprinting and early exposure to developed international markets: The case of the new multinationals. BRQ business research quarterly, 21(3), pp.141-152.https://journals.sagepub.com/doi/full/10.1016/j.brq.2018.05.001

Kamusheva, M., Manova, M., Savova, A.T., Petrova, G.I., Mitov, K., Harsányi, A., Kaló, Z., Márky, K., Kawalec, P., Angelovska, B. and Lakić, D., 2018.Comparative analysis of legislative requirements about patients’ access to biotechnological drugs for rare diseases in Central and Eastern European Countries. Frontiers in pharmacology, 9, p.795.https://www.frontiersin.org/articles/10.3389/fphar.2018.00795/full

Liu, H., 2018. Foreign Direct Investment and Strategic Alliances in Europe.Routledge.https://books.google.co.in/books?hl=en&lr=&id=JHx0DwAAQBAJ&oi=fnd&pg=PT11&dq=Strategic+alliance+and+partnership+in+german+country+full+article&ots=_5GxhgAOta&sig=Clxt1bhNnKtV_UqDdKX_9ESCdSY&redir_esc=y#v=onepage&q&f=false

mckinsey., 2022. Biotech in Europe: A strong foundation for growth and innovation. [Online].,mckinsey., Available at: https://www.mckinsey.com/industries/life-sciences/our-insights/biotech-in-europe-a-strong-foundation-for-growth-and-innovation [Accessed at: 23^rd April, 2022]

Paster, T., 2018. How do business interest groups respond to political challenges? A study of the politics of German employers. New Political Economy, 23(6), pp.674-689.https://www.tandfonline.com/doi/full/10.1080/13563467.2018.1384453

Schwens, C., Zapkau, F.B., Brouthers, K.D. and Hollender, L., 2018. Limits to international entry mode learning in SMEs. Journal of International Business Studies, 49(7), pp.809-831.https://link.springer.com/article/10.1057/s41267-018-0161-9

Statista., 2020. Development of revenues in the biotech industry in Germany from 1999 to 2020. [Online].,statista., Available at: https://www.statista.com/statistics/579758/revenue-development-biotech-industry-germany/ [Accessed at: 23^rd April, 2022]

 

 

MBA401 People, Culture and Contemporary Leadership

Introduction

This essay explains the scenario of managers that are constraints by environments in which they manage. This topic is surrounded and are explained with the help of certain concepts and theories that depends on the environmental and organizational change that can be certainly used. Managers play a very imperative role in the organization and its environment as it does decision making process and resources and reaching the decision from different contexts and behaviors. If one mistake is made the manager , it can lead to issues in the organization as well as can bring organizational resources to the best of its use. Moreover the concept of the SARFIT that can be explained as Structural adjustment to regain fit is a concept that shows that any structural design became misaligned with contingencies that are very hard in terms of dealing with the consequences. The author has a written a concept that shows that the organizational design that are not aligned properly with certain contingencies that have certain changes in the structural changes for regaining the structure and fit that causes the changes that are necessary. This approach is SARFIT model (Manzoor, 2012).

Manager and their constraints as per SARFIT model

The managers play a very imperative role in terms of the operations and the organization. The theories and the concepts show that the environment has a huge role in the on the decision-making process and the alignments of the operations.

Decision making is done by the managers with proper quality that has the impact that has a quite significant impact that shows the efficiency of the stakeholders of the organization. The top management team and its members take decisions regularly that affect the organizational future as well as the future of the stakeholders and helps in decision and pursuing any new decision and product line. The environment in which the manager prevails constantly affect the company. The managerial constraint can be seen as a central theme in terms of the research related to the strategic management (Cameron&Whetten, 2013).

A constant can be explained as a system of the limits that helps in achieving the performance in terms of higher goals and relative perspective. Constant management is very imperative in terms of helping the managers of the organization on all levels. It helps in ensuring and maintaining proper focus on the factors that are very critical for the system as well as its constraints. The efforts of the constant management can help in resolving the extremely negative effects of the organization in terms of abilities for funding the entire transition and leaning the substances increase in terms of the organizational output and performance. The system of identifying as well as exploiting the company and its resources is known as constraints Management. This consist of the manufacturing and policy standards that helps in clearing of the Expectations regarding the performance as well as the productivity of the individuals. It helps in managing the companies’ essential policies and procedures that have a comparative contingency approach in terms of the organizational structure that can be seen criticize and static inheritance. There is certain theory related to the structural change that help in maintaining the structure and strategy. When a manager operates in anorganization and managers certain operational three or three faces a lot of issues and problems that can be seen in analysis of the changes. The Adjustment of the structure that’s frequently an alternatively matches The Adjustment of the structure and the contingency that are Bond out. The theory that prevails in the structural change can be known as strategic choice and contingency determinism that is complete formulation of advance adjustment and regaining fit (Mahmood, et al., 2012).

The organization certainly concentrates upon a specific range of product data specifically organized in a market in terms of functions such as production sales and Finance. The organization diversified into certain aimed Markets and that is very imperative in terms of changing the circumstances. In many circumstances the forms attempt to make structural adjustments for beginning the fit. There are many situations that arise in front of a managers in terms of the management and they opt for structural change because some situations need different changes and fits that are very important to increase the productivity and efficiency in regards of the operations of the company. Every manager changes its situations and structure of company for regaining its fit in terms of the operations but some of the manager’s get impacted by the operations and the structure as the internal environment and the factors of the environment play a very huge role in terms of the operations for outsourcing the design as well as creativity agency in terms of the position of the organization and its size. For readjusting the structure as well as its contingency that can be seen as being obliged for the competitive freshers to handle for increasing the capabilities of managers as well as the employees of the company (Basol&Deerling, 2014).

The SARFIT model Dynamic nature and observations as well as confidence that on structure revilement to the contingency Instead of structure of the contingency.

The contingency theory provides manager means of methods to react to this and also provide some important discussion in their making of the decisions. The owners of the business execute the theory of contingency should permit their managers to override or bend the policy when the situation demands for them. The managers could reply to the issues of the individual issues or problems instead of overreacting to the issue itself. Instead of concentrating on the outcomes of the issues and the managers who knows the contingency theory important to know all of the impact that led to the issues. Like for example a warehouse manager deal by the issues of lack of efficiency because it connected to loading and unloading of the products that might look near and it also realize that decreasing proper ventilation is happening in the workers of warehouse. Then the manager simply gives some motivation theories as the automatic replies to the problems of the productivity.

The story gives a huge sub structure for the Design of organization. There are many major challenges for this as well. Constituency is also known as static. The formulation of SARFIT Of structural adaptions by the Cartesian method to set, Organizational theory changes. It is very difficult to become the opportunities for the development theory, in new methods of hetero-performance and quasi-fit. The organizational structure continent security is also known as obsolete as of new forms of organization but this also lacks the credibility. The organizational structure rival theory is the institutional theory but it is also problematic (Mcgrath&Bates, 2017).

Management ideas and suggestions election that suggest various rules for how to control the business organisation. The management theories locate out the supervisors execute the strategy is to obtain the goals and objectives of organisation and how they inspire the employs perform at their maximum capabilities that they have. Leaders apply methods from various theories of the management that appropriate for the culture of the company and for the employs as well. Many theories of the management were made and they still give many advantages sub-structures for the leading teams in the organisation as well as working businesses today.

The manager tried to hire a greater number of employees were increasing the capabilities. Outsourcing the design from different Agencies consists of a logic that if the structure is less bureaucratic then it increases the interdependency of the organisation when it comes to relying on the external agency MS operations. The size of the variable contract state fixed in terms of employing the contractual options that are available for alternative Outsourcing. Changing in the contingency for moving towards a new market in terms of the operations and performance is very essential for the structural adjustment and regaining the fit of a new cycle that masses the contingency is. The error and trial are the components of this process (Basol&Deerling, 2014). The company needs additional changes for designing to sale in terms of managerial contact. It is managers to choose what is needed to be done and what does not need to be done. They overall analyses the requirement as well as the internal factor of that affect the company so that it indicates the content ages for contributing A grade deal towards theory of the operations and the design get linked with the performance so it’s certainly affected managers and their efficiency and productivity. Managers get highly affected by the internal constraints of the company and the factors because some of the situations that can arise in the company can highly affect the company and its environment (Huczynski, et al., 2013).Bureaucratic Management theory concentrate on organisation in a transparent rule of the government. Their principles or making these systems that involves a command chain, Transparent labor division, organizationalhonor assets, separation of personal as well as strict and consistent regulations.

Conclusion

Decision making is done by the managers with proper quality that has the impact that has a quite significant impact that shows the efficiency of the stakeholders of the organization.SARFIT model Dynamic nature and observations as well as confidence that on structure revilement to the contingency Instead of structure of the contingency.The company needs additional changes for designing to sale in terms of managerial contact.

 

 

 

References

Basol, E. and Dogerlioglu, O., 2014. Structural determinants of organizational effectiveness. Journal of Organizational Management Studies, 2014, p.1.https://ibimapublishing.com/articles/JOMS/2014/273364/273364.pdf

Cameron, K.S. and Whetten, D.A. eds., 2013. Organizational effectiveness: A comparison of multiple models. Academic Press.https://books.google.co.in/books?hl=en&lr=&id=au1GBQAAQBAJ&oi=fnd&pg=PP1&dq=%22organizational+effectiveness%22+contingency+theory+approach&ots=tB63QcvdnV&sig=hCKUqSfhVY0gK5D2ofcExNyvFlk&redir_esc=y#v=onepage&q=%22organizational%20effectiveness%22%20contingency%20theory%20approach&f=false

Huczynski, A., Buchanan, D.A. and Huczynski, A.A., 2013. Organizational behaviour (p. 82). London: Pearson.http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.473.7000&rep=rep1&type=pdf

Mahmood, Z., Basharat, M. and Bashir, Z., 2012. Review of classical management theories. International journal of social sciences & education, 2(1).http://ijsse.com/sites/default/files/issues/2012/volume%202%20issue%201%20Jan%202012/paper%2039/paper-39.pdf

Manzoor, Q.A., 2012. Impact of employees motivation on organizational effectiveness. Business management and strategy, 3(1), pp.1-12.https://d1wqtxts1xzle7.cloudfront.net/36733445/150-with-cover-page-v2.pdf?Expires=1650896058&Signature=M6m5nUYlm220r3AUog939jvIWH1G7YE2Xdgf8CO8iP4FU~M8JUSlVTb-JeHY2vsE4s~PV86Aj7jO2gLANdY8kNsyglb8t8gS4Ngoj0Cre-VLqnx77Ppu-5DLSHfJ0kWI2iJH~m4Z3i-xvHfjZDyRXcSm7-CiD781qum9h8qFW1WZos9fIEtDHO8VxcUYKa~oqyFVDq2AlXDYLgq2lWypQqCpLf3k4blzf18rJ1qGx5CDJcH~Rtme3ezey-r2kukTU8utuo0wq2H1lf~ebAm2jrEs3KaY~c-CVIDGSTkJLzmeOX3p88OaF2Bgb1v60Oqh9YT2C26HZ0QliyT2VEav6g__&Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA

Mcgrath, J. and Bates, B., 2017. The Little Book of Big Management Theories:… and how to use them. Pearson UK.https://books.google.co.in/books?hl=en&lr=&id=f70pDwAAQBAJ&oi=fnd&pg=PT8&dq=management+theories&ots=XqZfOQbBxR&sig=B-1AFoUBiA0WW_phXrFJqWlh76U&redir_esc=y#v=onepage&q=management%20theories&f=false

 

 

 

Step-1

There are many ways and websites to find jobs in Canada:

1) Indeed Canada

2) Workopolis

3) Glassdoor

4) Monster

This website helps us for searching jobs in Canada.when you search for a job on these websites which is mentioned above remember one thing can’t pay any amount for the job, many websites do fraud so be careful with them.

Treat job search as your responsibility or spend 30-40 hours per week on the job search. That much time must be needed for this task.Because it governs your output and how far away you will go in reaching the full realization. (Rennie& Morrison, 2013)

The quality of the job always gives you the satisfaction that why a searching job with proper manner is important. It brightens your branding. A suitable schedule must be framed to determine different tasks that must be performed effectively and efficiently. A schedule of seven days a week must be scheduled.

Networking refers that people creating and maintaining professional relationships

Who has a similar interest in the same job industry so that it will be easy for them to find their job? Networking is a good way to find employment in Canada through networking. Many types of networks in Canada help to know upcoming job vacancies.Workopolis is one of the networks that conduct the survey according to that survey job seekers people were getting t job opportunities within 16 weeks of application. Want a good network then you need strong communication skills and a willingness to coordinate with others. Set yourself realistic. For example, make useful contacts and meet them for coffee within the next week. A personal network is also helpful for you to find a job. (Aral,et al,2015)

Informational meetings mean informational interviews; it means conversation with someone who is working in the same interest field. This is a very effective tool and its best done after a primary online search. Do our informational meetings prime jobs? Yes, it may help you to prepare for real job interviews and dispensation you within a better chance of getting an offer then. Example of informational meetings/interviews: when you start working, what are the projects that you have done on your own, and what is your opinion about the current project in the industry. Skill-developing classes play a vital role for all of us. Everyone has talent or skill but also has fear or confusion because of less confidence and proper knowledge, those person skill development classes’ works. And create employment. Everyone is not good at studies but they have skills and want employment on the basis of their skills.This type, of course, is helping to enhance the proficiency of the person in a specific area.(Cosentino, 2013)

Skill development increases professional web, better communication. It’s filling your learning gap and helping you to get your dream job. It reduces UN-and underemployment and increases standards of living. If interpersonal skills are strong then it helps to increase business profits, person accuracy, and focus quality. Now the next point is the interview preparation. Being prepared for an interview is a very important step to leading a job. Doing some preparation person feels more in control, preparation is like: when you get an interview call do cross-questioning about the interview, and do proper research about the organization or company in which you are going to interview. Study the job description. Practicing your answer, some questions which are related to your subject and from your qualification. And getting feedback (Pascual, 2014)

From a friend get your clothes ready choose a better option of cloth which represents your personality. Arrive early mean be on time.

 

Step-3

Position 1

Title	Data entry
Position title	Manager
Company name	DRC
Address	75 Horner AVE Unit 12 Toronto, ON, Canada M8Z 4X5
Contact person name and Title	Mark wood, Manager
Phone number	416.251.3721
Email	drc@ca.in
Source	Indeed Canada
Date of Application	28-04-2022

 

Position 2

Title	Teacher
Company Name	University of Toronto
Address	27 King’s College, Cir Toronto, ON M5S 1A1, Canada
URL	universityoftoronto@ca.in
Contact Person name	Jack William
Title	CEO
Phone number	1425478
Email	universityoftoronto@ca.in
Date	27-04-2022

 

Position 3

Title	Manager
Company name	George Western Limited
Address	Legal Department 22 St. Clair Avenue East Suite 1901 Toronto, Ontario M4T 2S7
URL	georgeweston@ca.in
Contact person name	Andrew Tye
Title	CEO
Phone number	45254832
Email	andrewtye@georgeweston.ca.in
Interviewer’s name	Mitchel Watson
Title	General Manager
Phone number	2548547
Email	mitchelwatson@georgeweston.ca.in
Interview date	27-04-2022
Interview location	Conference hall

 

Sample Job application Tracker

Job Title	Company Name	Contact name/Title	Phone/Fax/Email	Mailing Address	Resume sent date	How sent	References sent	Job Description/Keywords	Application Status/Date	Interview/Date
Manager	Canadian Tire	Steve Smith, Manager	2524524	stevesmith@canadiantire.ca.in	19-04-2022	Via Email	19-04-2022	Handling operations	22-04-2022	27-04-2022
Data Entry	Westjet	Mark Smith, Manager	452541	marksmith@westjet.ca.in	20-04-2022	Via Email	20-04-2022	Recording data	23-04-2022	28-04-2022
Teacher	University of Toronto	Tom Stark, Manager	452852	tomstark@universityoftoronto.ca.in	21-04	Via Email	21-04	Teaching	24-04-2022	29-04-2022
Human Resource manager	Shaw communications	Will Smith, Manager	1452547	willsmith@shawcommunications.ca.in	22-04-2022	Via Email	22-04-2022	handling human resources	25-04-2022	30-04-2022
Clerk	Manulife	David Warner, Manager	25482265	davidwarner@manulife.ca.in	23-04-2022	Via Email	23-04-2022	Handling records	26-04-2022	01-05-2022

References

Broadbent, D. E. (2013). Perception and communication.Elsevier.

Cosentino, M. (2013). Case in point: Complete case interview preparation (p. 266). Burgee Press

Korukcu, O., Ersan, C., & Aral, N. (2015). The effect of drama education on social skill levels of the students attending child development associate program. International Journal of Social Science & Education, 5(2), 192-202.

McDonnell, J., & Lloyd, P. (Eds.). (2022). About designing: Analysing design meetings. CRC Press.

Pascual, N. T. (2014). Factors affecting high school students’ career preference: A basis for career planning program. International Journal of Sciences: Basic and Applied Research, 16(1), 1-14.

Rennie, F., & Morrison, T. (2013). E-learning and social networking handbook: Resources for higher education. Routledge.

 

BUS700 ECONOMICS T122

 

Table of Contents

Assessment 3. 3

Introduction. 3

Real GDP. 3

Budget balance. 4

Budget balance and unemployment. 5

Budget balance and inflation rate. 6

Fiscal policies. 6

Conclusion. 7

References. 8

 

 

 

Assessment 3

Introduction

There are the variables changes that happen in the macroeconomics of Australian and US economics. They have to make sure to make a plan to handle the situation. As the country’s economic handler they have to make the plan to handle the changes that appear.  Changes are happening in the fiscal position due to changes in the macroeconomics of the country.  The macroeconomic performance of the Australian economy increased. This is the report that helps both countries with critical analysis. According to the evaluation of the macroeconomic performance, this report will describe the economic changes.

Real GDP

During the evaluating the moment of the real GDP in Australia and the US, from 2004 to 2021. There are changes required in the economy changes. They have to make sure to handle the issue in the countries on the economic level. Due to changes in the variable microeconomics, some changes happen in the moment of the real GDP in Australia and the US. Based on the data and the record there are the upside and down changes happening in the GDP of Australia. The real GDP of Australia was 1,490,967 million US dollars. There are changes in the GDP of the country and it will change according to the changes in the economy. According to the data and based on the economic graph the net worth of Australia was worth 1330.90 billion US dollars in 2020, this is the official data that is issued by the world bank. This has been very clear that the GDP value of Australia represents 1.18 percent of the world economy (Baum, et al., 2015).

Due to covid -19, there are the changes in the GDP value of both the countries and for that, they have to do the changes in the market policy. The prices of the domestic and the other product will raise their cost in the market and because of this, the changes are happening in the market policy of the countries. Australia’s real gross domestic product there is a drop-down in 2019-2020. Due to changes happening from the covid-19. There is a drop-down of around -6.79 % in the gross domestic product of Australia. Therefore recovery requires in both Australia’s and US economies (Baum, et al., 2015).

On the other hand, there are the changes that happen because of the covid-19. Due to a lack, the prices of the products went high and people face a crisis in the market in both the countries. This will also, affect the real GDP of Australia and the US economy went down. Coronavirus disturbs the economic base and affects the working policy of both countries. They have faced the issue while importing and exporting the goods and the materials. A pandemic may cause issues in the companies and economic changes in the organization. This disturbs the health and the medical department of work on a large scale which may cause a serious issue in the organization (Ozili, 2020).

Budget balance

Australian government budget adjustment is required to maintain the economic cycle. They have to maintain the budget position between the cyclical and structural components. There has been effect appear in the countries and their economy gets imbalance. Due to this their economic effect happen on the countries and maintain their GDP. They have to make a budget plan for the economic settlement. This is the main reason the budget balance require in the organization. Australian government adjusted the budget just because of maintaining the economic cycle of their country (Beckman, 2021).

The economic cycle will describe the changes in appearance in the countries and the prices of the products increase. The effect on the economy will affect the budget deficit and this will be caused due to recession. They have to maintain the cyclical and structural components of their countries.

Budget maintenance is required in the countries for their economic management. There are the basic four dimensions included in the budget maintenance. During the maintenance of the budget, they have to do the high level of the strategy in which they have to calculate. Vision, mission, and goals that include in the budget development also, their maintenance (Beckman, 2021).

Australia’s new budget Aims to balance the books of the accounts of their country’s economy. In their new budget, they decide the foreign aid that they are paying around 70 percent of Australia’s foreign. They have to increase their budget will be around from $4.8 billion this year to $5.1 billion for 2013. Balance budget is an important thing to do in the company as they have to calculate the country’s revenue. They have to communicate with their trading partners and they have to remain an important indirect source of demand for Australian exports. The current account balance reflects the difference between the national savings and their investment. Two types of balance are required in maintaining the budget. There is a trend in Australia’s current account balance the trade balance is known as the primary trade income and therefore secondary income balance. This is the income that is known as the net income balance.

This is the important thing to do the budget-balancing in the countries for their economic measurement. As they have to calculate the revenue and the expenses of the non-government organization. This will help them to calculate estimate the value of the services and the revenue and the expenses of the company (Blinder, 2016).

Budget balance and unemployment

This pandemic there is an effect happen that will cause a large amount of the unemployment. Due to covid-19, there is a drop in the unemployment rate to 6.2% which means there are 600,000 jobs. This will cause the loss of the jobs of most of the people in Australia because of the Covid-19. This may cause a disturbance in the economy of Australia and affect their GDP. Therefore the changes happen in the US too as coronavirus hit on the global level. This may cause a high level of risk appearance in both countries. As they have to make sure to handle the things and for this, they have to make a plan. This plan will help the country to come out from the risk that is happening due to covid -19. US economy destroy is because of the covid-19 and they have to make a better plan for the county’s development (Blinder, 2016).

According to the data in April 2020 there is the unemployment rate in the US country that is described the 14.8%. United state president declared a national emergency in their country on March 13^th, 2020. This is because of the Covid-19 and it will affect the local areas and some sectors may affect because of this on a very large scale. The employment sectors in the private department and the importing also, the exporting will affected due to this. On the other hand, the case raised will disturb the branches of the medical staff. There is the effect appears in the medical industry and due to loss in the large. Most people will lose their jobs because the unemployment rate in the US will increase. This is affecting the economy and the other department this is also, creating the problem for the government of both the countries. Most companies will not be able to meet the desire of the employees. However, they are unemployment increases in the society most people will not be able to get a better level of the wages according to their demands (McKibbin, 2020).

Budget balance and inflation rate

Maintaining the budget balance as per the records and the desirable settlement that the country requires for its budget maintenance. Australia and US countries governments have to balance the budget section. As per the demand for the country’s development they have to maintain the economic cycle. The recession for the period is happening in the country for a long time as this will happen is because of the pandemic situation. They have to make sure to handle the things in their countries for better development. Due to covid-19 and the changes in the situation of the organization and the other changes requirement they will increase their inflation rate.

US inflation rate from the year after the lockdown and pandemic situation occur in the society. Some changes happen and due to this, they have to change their inflation rate too. In the year 2021, the inflation rate is 7.0% and the fund rate is 0.25%. therefore expansion is 5.9%  this describes the hike in the inflation rate just after the covid-19. According to the current budget maintenance of Australia and the decision made by their government. As per the record, the current government budget surplus of 10463 AUD million, is decided in February of 2022. The changes are happening in the inflation rate of the Australian government sectors year by year. There is a drop-down in the inflation rate in Australia after 2021 (Cross, et al., 2020).

US and Australia both the countries have to make sure to make their budget the balance as they have to face the crisis in their economic sectors. This cerise affects all the private and the government sectors and even causes the unemployment in the countries on a large percentage level. This may cause difficulties for the common people in society. During the budget-balancing in Australia, the inflation rate went into stronger mode and this is because of the changes in the economy of the organization (Cross, et al., 2020).

Fiscal policies

During the covid-19 pandemic, both the Australian and the US governments pursued expansionary. There are various types of fiscal policies available in both the country’s market to reduce the negative impact of the pandemic on society. The country’s medical department needs the settlement and the better policy development in their countries (Cross, et al., 2020).

As the cases increase in the covid-19 and medical sectors will not be able to handle it on the global level. Even the WHO is also realize the notice of the emergency as according to the rescues and the cases increment in the society. Therefore most of the countries over there are unable to control the cases and the people’s death rate. The reason behind this is the improper facilities in the medical sector. As per the sources, the US spends $5.2 trillion on its fiscal policies during the time of the pandemic (Loxton, et al., 2020).

The types of fiscal policy and the monetary policy that the government of both the countries has to maintain at a low rate. Controlling the inflation and activity also, exchange rate and price expectations. These all are the monetary policy that they have to make them low at this rate. Therefore the fiscal policy in a medium-term framework they have to make sure to handle the fiscal policy after that. This will have to mention in the government balance sheet and the motive for reducing the amount of the fiscal policy. They have to reduce the amount of the fiscal policy in their government policy and maintain also, give them time for the people to come out from the risk and high level of the economic changes. As per the requirement of the countries and their government demand. There are three main types of fiscal policy in an economic equilibrium as they have to maintain this in their economic procedures (Loxton, et al., 2020).

Conclusion

According to the research report that has to explain the difference between both the country government changes. The changes are happening in both the country due to covid-19 and the pandemic changes happen. There are changes in the unemployment and the fiscal policy also, they have to handle the things. As they have to maintain the economic balance and the maintenance required in both the countries’ economic balance. As per the changes happening in the GDP of the Austria and US.

 

 

References

Baum, C.F., Kurov, A. and Wolfe, M.H., 2015. What do Chinese macro announcements tell us about the world economy?. Journal of International Money and Finance, 59, pp.100-122. Chinese Macro Announcements_v43g (bc.edu)

Beckman, J. and Countryman, A.M., 2021. The Importance of Agriculture in the Economy: Impacts from COVID‐19. American journal of agricultural economics, 103(5), pp.1595-1611. The Importance of Agriculture in the Economy: Impacts from COVID‐19 – PMC (nih.gov)

Blinder, A.S. and Watson, M.W., 2016. Presidents and the US economy: An econometric exploration. American Economic Review, 106(4), pp.1015-45. Microsoft Word – Presidents and the Economy July_2014_NBER_WP.docx

Cross, M., Ng, S.K. and Scuffham, P., 2020. Trading health for wealth: The effect of COVID-19 response stringency. International Journal of Environmental Research and Public Health, 17(23), p.8725. ijerph-17-08725-v2.pdf

Loxton, M., Truskett, R., Scarf, B., Sindone, L., Baldry, G. and Zhao, Y., 2020. Consumer behaviour during crises: Preliminary research on how coronavirus has manifested consumer panic buying, herd mentality, changing discretionary spending and the role of the media in influencing behaviour. Journal of risk and financial management, 13(8), p.166. jrfm-13-00166-v2.pdf

McKibbin, W.J. and Fernando, R., 2020. Global macroeconomic scenarios of the COVID-19 pandemic. Europe PMC

Ozili, P.K. and Arun, T., 2020. Spillover of COVID-19: impact on the Global Economy. Available at SSRN 3562570. MPRA_paper_99850.pdf (uni-muenchen.de)

STUDENT ASSESSMENT BOOKLET BSBFIN501 – Manage budgets and financial plans BSB50120 Diploma of Business (Business Operations)

 

 

Student Name: _________________________________________________________   Student ID: ___________________________________________________

OVERALL UNIT – RECORD OF ASSESSMENT OUTCOMES:

This section records the outcome of each task/assessment requirement so that the final assessment outcome can be determined for BSBFIN501 – Manage budgets and financial plans

Student must achieve a satisfactory outcome in each of the assessment tasks listed in the table following to be deemed competent in the unit. There is space to record up to three attempts at each assessment task..

A not satisfactory result for any discreet assessment task (after the student has had three (3) attempts), will result in the student being deemed not yet competent.

Assessment Tasks	Unit Outcome
	Satisfactory (S) Not satisfactory (NS)Please note (N/A) where further attempts are not required		Date		Assessor initials
Assessment Task 1: Written Questions	Attempt 1
	Attempt 2
	Attempt 3
Assessment Task 2: Case Study & Roleplay	Attempt 1
	Attempt 2
	Attempt 3
Assessment Task 3: Case Study (continued) & Roleplay	Attempt 1
	Attempt 2
	Attempt 3
Final Assessment Results		Result (C/NYC)
BSBFIN501 – Manage budgets and financial plans		Competent □   Not Yet Competent □
Student Name:
Student ID:
Qualification: BSB50120 Diploma of Business (Business Operations)
Does the student wish to appeal the result?     □ YES   □ NO
Assessor Name:
Assessor Signature:				Date:           /       /

 

 

Assessment Plan

The following outlines the requirements of your final assessment for this unit. You are required to satisfactorily complete all tasks to demonstrate competency for this unit.

Your Trainer / Assessor will provide you with the due dates for each assessment task. Write them in the table below and keep a note of the due dates for your reference.

Assessment Requirements	Due date
1.       Written Questions
2.       Case Study & Roleplay
3.       Case Study (continued) & Roleplay

 

Agreement by the student

Read through the assessments in this booklet before you fill out and sign the agreement below. Make sure you sign this before you start each assessment task.

Have you read and understood what is required of you in terms of assessment?

¨   Yes

Do you agree that the assessment process is clear?

¨   Yes

Do you understand your rights to appeal then decisions made in an assessment?   Do you have any special needs or considerations to be made for this assessment? ¨  No        ¨   Yes If yes, what are they?

¨   Yes       ¨  No

• Student Name: ______________________________________________________________________________________________

• Student Signature: _____________________________________________________________ Date: ________________________
  • Assessor Name: ______________________________________________________________________________________________
• Assessor Signature: ____________________________________________________________ Date: ________________________
• Assessor Note: If the student ticks ‘NO’ for any item except the reasonable adjustment, the assessor must not commence the assessment activity until the matter has been resolved and records of the resolution have been entered into the Student Management System (SMS).
• If a student identifies any specific needs or considerations, assessors must provide a detailed record of how the situation was managed in the assessment outcome record for this assessment.

Version control
Version No.	Date		Dept.	Change
1.0	18/01/2021		Training	Original
Copyright Statement
© Copyright Clinton Institute
Disclaimer		All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, scanning, recording, or any information storage retrieval system without permission in writing from Clinton Institute. No patent liability is assumed with respect to the use of information used herein. While every effort has been taken in the preparation of this publication, the publisher and authors assume no responsibility for errors or omissions. Neither is any liability assumed for damages resulting from the use of information contained herein.

 

 

 

Contents

OVERALL UNIT – RECORD OF ASSESSMENT OUTCOMES: 2

Assessment Plan. 3

Contents. 5

Introduction. 6

Assessment Task 1: Written Questions. 13

Assessment Task 2: Case Study and Roleplay. 37

Assessment Task 3: Case Study (continued) & Roleplay. 49

 

Introduction
Unit code	Title	Training Package
BSBFIN501	Manage budgets and financial plans	Business Services Training Package

 

For further information regarding assessment criteria including-

• Application of unit
• Elements and performance criteria
• Assessment requirements
• Modification History
• Performance Evidence
• Knowledge Evidence
• Assessment Conditions.

 

Please refer to: https://training.gov.au/Training/Details/BSBMGT517

Understanding Assessment Terminolgy

Describe: Give a detailed account by recounting, characterising, outline and relating, in sequence, an event, situation, theory or point.

Discuss/Explain: Clarify or elaborate on the facts.  Focus on reasons how and why things happen or a why a particular point is important in the relevant context.

List: Using dot points, list a series of points, steps or stages that relate to the question.

Outline: Leaving out minor details, give an account of thing or a process outlining the main points of a topic.

Review: Provide a summary while analysing and commenting on the evidence, argument or other relevant points.

Summarise: Identify and interpret the most relevant features of a theory, discuss issue or detail, leaving out the finer details.

Develop: Involves the creation of the materials/activities/procedures to achieve the outcome.  This is about designing and creating,

Implement: After materials/activities/procedures are developed, test all materials/procedures to determine if they are functional and appropriate for the intended audience.

Evaluate: ensures that the materials/activities/procedures achieve their desired goals and involves a detailed review including any recommendations for change and reasons.

 

Plagiarism

While cooperative effort and the sharing of information are encouraged, you must ensure your assignments and assessments are representative of your own effort, knowledge, and skills. You must not take the work of others and present it as your own. Plagiarism may result in the assignment/assessment being deemed to be “not yet competent” by the Trainer / Assessor.

Students accused more than once of academic misconduct, including plagiarism, may be dismissed or cancelled from their course at the discretion of the Clinton Institute Director of Studies.

Plagiarism can take several forms:

• Quoting from a book or an article without acknowledging the source.
• Handing in someone else’s work as your own.
• Stealing and passing off another person’s words or ideas and claiming them as your own.
• Giving incorrect information about the source of a quotation or idea.
• Downloading information from the internet without acknowledging the source.
• Copying a section of a book or article and submitting it as one’s own work.
• Presenting as a new and original idea or produce something which was derived from an existing source.

 

Referencing Materials

If you are unfamiliar with how to reference, we recommend that you review http://www.citethisforme.com/harvard-referencing. Two types of citations are included:

• In-text citations are used when directly quoting or paraphrasing a source. They are located in the body of the work and contain a fragment of the full citation. Depending on the source type, some Harvard Reference in-text citations may look something like this:
  • “After that I lived like a young rajah in all the capitals of Europe…” (Fitzgerald, 2004).
• Reference lists are located at the end of the work and display full citations for sources used in the assignment. Here is an example of a full citation for a book found in a Harvard Reference list:
  • Fitzgerald, F. (2004). The great Gatsby. New York: Scribner.*
• It is preferred that students utilises Harvard Style referencing. Generally, Harvard Reference List citations follow this format:
  • Books: Last name, First Initial. (Year published). Title. City: Publisher, Page(s).
  • Journals/publication: Last name, First initial. (Year published). Article title. Journal, Volume (Issue), Page(s).
  • Websites: Website name, (Year published). Page title. [Online] Available at: URL [Accessed Day Mo. Year].

Understanding your results

The great thing with competency-based training is that you either deemed ‘competent’ (you can demonstrate the required skills and knowledge) or ‘not yet competent’ (at this time you haven’t been able to demonstrate required skills or knowledge). The key word is “YET”.

Your Trainer / Assessor will provide you with feedback on your assessments so that you know what you have done well in your assessment and what you need to improve upon or fix. An “NYC” result does not mean that you have failed and that is it – you have the opportunity to try again.  It could be that one question in your assessment was deemed not yet satisfactory and this is the only question that will require review.

Assessment outcomes

Each assessment task will be given an outcome of either Satisfactory (S) or Not Yet Satisfactory (NYS). You must complete all tasks satisfactorily to achieve an overall outcome of Competent (C) for a unit. If one or more of tasks are assessed as not yet satisfactory, you will be given an overall outcome for the unit of Not Yet Competent (NYC).

 

You will be allowed up to two (2) reassessments attempts to complete each task and achieve a satisfactory outcome. You will be given a timeframe for resubmission and advised what you must include in the resubmission.

 

There is an Assessment Task # – Outcome Record incorporated within an Assessment Cover Sheet at the beginning of each discreet assessment activity. Assessors will complete the Outcome Record section for each assessment activity. The summary of the outcomes will be transferred to the Overall Unit – Record of Assessment Outcomes located on the reverse of the first page Cover sheet of this Student Assessment Booklet..

Assessors Note -the Overall Unit – Record of Assessment Outcomes will become the first page of the submitted work when completed (by reversing the first page Cover sheet of this Student Assessment Booklet.)

 

 

Results legend

C	Competent	You have successfully completed unit and met the minimum competency criteria and demonstrated the required skills and knowledge.
NYC	Not Yet Competent	You have not met minimum competency criteria for the unit. Certain section/s require review due to not meeting the requirements and, therefore, your work is deemed not yet competent.   Note: If you have had an initial assessment, a first reassessment and then a final reassessment, you will no longer have an opportunity to resubmit.  You will receive a “NYC” and have to re-enrol in the unit.
S	Satisfactory	Individual assessment/question is satisfactory.
NYS	Not Satisfactory	Individual assessment/question is not a satisfactory result for a specific assessment activity.

Assessment attempts and resubmissions

You will have up to three (3) attempts to achieve a satisfactory outcome for each assessment. If after three (3) attempts you cannot achieve a satisfactory result for any assessment activity, the overall outcome with be Not Yet Competent (NYC) for the unit.

Resubmission

You will be given the opportunity to resubmit a Not Yet Satisfactory (NYS) assessment task up to two (2) times. Following the assessment outcome, you will be given appropriate feedback on previous attempt. This will enable you to have a total of three (3) attempts.

Timeframe

You will be provided with an appropriate timeframe by your trainer to resubmit your work. For example, you may be given 14 days to resubmit incorrect responses to written tasks or projects. Should you be required to complete a roleplay or presentation, your assessor will make an appointment time, which suits both of you.

Records

The Assessment Task Cover Sheet at the start of each assessment activity, includes a space to record the details of any re-attempts and resubmissions. Assessors must ensure that this is comprehensively detailed so that anybody reviewing the assessment record can tell exactly what occurred, when it occurred, how it occurred, who was involved and where any further evidence is located. Assessors must also make reference to ensuring that any reattempt or resubmission has been assessed in accordance with the model responses and performance descriptors included in the Assessor’s Marking Guide.

Assessment task cover sheet

At the beginning of each individual assessment task, you will find an Assessment Task Cover Sheet. Please fill out your student  details  on each cover Sheet and make sure you sign the student declaration.

Your assessor will complete the Outcome Record section and give you feedback about how well you went in each task. This will be written on the Assessment Task Cover Sheet.

Assessment appeals

You have the right to appeal an assessment decision. To make an appeal about an assessment decision, you must follow the process outlined in the Student Handbook.

Note that the Overall Unit – Record of Assessment Outcomes contains a section which says “Does the student wish to appeal the result?     □ YES   □ NO”

Assessors must ensure that the appropriate box is ticked, after conferring with the student if necessary.

Assessment Overview

This Student Assessment Booklet includes all your tasks for assessment of BSBFIN501Manage budgets and financial plans

About your assessments

There are three (3) assessment tasks for this unit. You must satisfactorily complete all tasks to achieve competency for this unit.

Assessment Task	About this task
Assessment Task 1: Written Questions	You must correctly answer all nineteen (19) questions to show that they understand the knowledge required of this unit.
	Evidence Required ·         All completed questions.
Assessment Task 2: Case Study & Roleplay	You are required to demonstrate their ability to obtain information relevant to business operational plan.
	Evidence Required Activity 1: ·         Marino Hotel Budget report ·         Answer to activity 1.4 Activity 2: Roleplay Observation checklist – to be completed by Assessor Activity 3: ·         Answer to Activity 3.1 ·         Email to implement changes to financial management processes ·         Email to advise the changes to budgets and financial plans
Assessment Task 3: Case Study (continued) & Roleplay	You are required to demonstrate your ability to monitor and evaluate the operational plan
	Evidence Required Activity 1: ·         Contingency Plan ·         Email to implement Contingency Plan Activity 2: Roleplay Observation checklist – to be completed by Assessor Activity 3: modified Contingency Plan)

 

How to submit your assessments

When you have completed each assessment task you will need to submit it to your assessor.

Instructions about submitting your work can be found at the beginning of each assessment task.

Make sure you photocopy your written activities before you submit them. Your assessor will put the documents you submit into your student file. These will not be returned to you.

 

 

 

 

 

 

 

 

 

 

 

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ASSESSMENT TASK COVER SHEET and TASK OUTCOME RECORD– ASSESSMENT TASK 1

Student: Please fill out your details and date of submission and complete the declaration. Keep a copy of your submission.

Student Name
Student ID
Date of submission
Course / Qualification	BSB50120 Diploma of Business (Business Operations)
Unit(s)	BSBMGT517 Manage budgets and financial plans

Student declaration

I <Insert your name>__________________________________________declare that this is my own work and:

□ None of this work has been completed by any other person.

□ I have not cheated or plagiarised the work or colluded with any other student/s.

□ I have correctly referenced all resources and reference texts throughout these assessment tasks.

□ I understand that if I am found to be in breach of policy, disciplinary action may be taken against me.

Student Signature: ___________________________________________________________________________________________

Assessor to complete
Assessment requirements	Satisfactory/ Not satisfactory	Attempt (pls circle)
Written questions completed		1    2    3
Overall Outcome for Assessment Task 1:

ASSESSOR FEEDBACK – Detail any gaps identified and any reassessment requirements

(if more space is required, continue on reverse of this page)

 

Assessors: Please provide a copy of this cover sheet to the student with assessment results and feedback. The original copy must be supplied to the office and kept on the student’s file with the evidence.

____________________________________________________________________________________________________________

____________________________________________________________________________________________________________

____________________________________________________________________________________________________________

____________________________________________________________________________________________________________

____________________________________________________________________________________________________________

Assessor Signature:  …………………………………………………………………………………Date: ………………./…………………/…………….

Assessor Name: ______________________________________________________________________________________________

 

 

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Assessment Task 1: Written Questions

Task summary:

You are required to answer all nineteen (19) questions correctly in this task.

You will have four (4)  hours to complete this assessment, which may be undertaken in more than one session.

 

Resources and equipment required to complete this task

• Student Leaner Guide for this Unit
• Computer
• Access to the Internet

Note: Clinton Institute provides students with access to a computer and internet

When and where do I complete this task?

This task is to be completed in the classroom. Your assessor will advise on the date(s) and time(s) of the assessment.

What do I need to submit and Do?

What do you need to do?	What evidence is required?
Answer all nineteen (19) questions.	You will need to submit your answers to all nineteen (19) questions.

Decision Making Rules

Assessors will compare student responses/performance with the model responses and performance descriptors contained in the Assessors Marking Guide. Your responses do not have to be verbatim (unless otherwise specified), but must convey the same meaning as each component listed. Similarly, you do not have to perform exactly as described in the marking guide (unless otherwise specified), but you must address each performance components listed.

You must achieve a satisfactory result for every question and component to achieve a satisfactory result for this assessment activity.

What happens if I get something wrong?

If your assessor sees that you have not completed all parts of this task satisfactorily, the details of resubmission will be advised by your Assessor in writing and discussed with you directly.

Instructions

• This is an open book assessment – you can use your learning materials as reference.
• You need to answer all questions correctly
• You must answer the questions by writing in the space provided and/ or you may complete using softcopy tasks or templates electronically when provided.
• If you need more space, you can use extra paper. Make sure you write on each extra piece of paper your name and the question number/s you are answering.

 

Assessor will tick either □ Satisfactory OR □ Not yet satisfactory for each question and sub-questions.

 

 

Assessment Task 1: Written Questions

Question 1

1. What is the basic principle of Accrual Accounting?

Accrual accounting basic principles are those which help the basic principle of the accrual accounting is done based on the accounting system as they have to make sure to do the transaction according to the time and the basis of the timing.     □ Satisfactory OR □ Not yet satisfactory

 

1. What is the basic principal of “Cash Accounting”?

cash accounting is the method of accounting while recording the transaction and the payment receipt maintains is the important thing in the cash accounting system of the company.     □ Satisfactory OR □ Not yet satisfactory

Overall Outcome for Question 1:  □ Satisfactory OR □ Not yet satisfactory

Question 2

What is the three basic principal of double-entry accounting?

a)       They will have to do an entry on both the debit and the credit side of the accounts. b)       Another basic principle for this is that they have to make an entry in a personal account too. Transaction of related to the company and nominal account all the expense will be debt in this section. □ Satisfactory OR □ Not yet satisfactory

Question 3

What is the key principles relating to timing when preparing profit and loss statements?

During the year ending of the accounting system they will maintain the profit and loss of the company.   □ Satisfactory OR □ Not yet satisfactory

Question 4

Describe each of the following four (4) overarching accounting principles which relate to reporting financial information-

1. Doctrine of Consistency

is the method that helps in the management of accounts.   □ Satisfactory OR □ Not yet satisfactory

1. Doctrine of Disclosure

it includes the entity of the financial statement.   □ Satisfactory OR □ Not yet satisfactory

1. Doctrine of Materiality

it includes the decision-making process of the investors       □ Satisfactory OR □ Not yet satisfactory

1. Doctrine of Conservatism

they will convert the accounts details to a high degree level.   □ Satisfactory OR □ Not yet satisfactory

Overall Outcome for Question 4:  □ Satisfactory OR □ Not yet satisfactory

 

 Question 5

List the five broad categories ledger accounts which underpin double entry bookkeeping

c)       Assets d)       Liability e)       Equity f)        Revenue g)    Expenses □ Satisfactory OR □ Not yet satisfactory

Question 6

1. Outline the Generally Accepted Accounting Principles (GAAP)

The Generally Accepted Accounting Principles are as follows: 1. Principle of Regularity 2. Principle of Sincerity 3. Principle of Consistency 4. Principle of Non-Compensation 5. Principle of Permanence Method (Saidakbarov, et al., 2022). 6. Principle of good faith 7. Principle of Full Disclosure 8. Principle of Periodicity 9. Principle of Continuity 10. Principle of Prudence           □ Satisfactory OR □ Not yet satisfactory

 

1. Outline the International Accounting Standards (IAS)

International Accounting Standards are the older standards of accounting issued by the IASB which is an independent body that sets the standards and is based in London. The IAS was swapped in 2001 by IFRS (Saidakbarov, et al., 2022).       □ Satisfactory OR □ Not yet satisfactory

Overall Outcome for Question 6:  □ Satisfactory OR □ Not yet satisfactory

Question 7

List the purpose(s) of each of the following budgets:

Cash budget	To give businesses the prominence of their position of cash so they could determine a shortage of cash or whether there is a surplus of cash (Barnhill, et al., 2021). □ Satisfactory OR □ Not yet satisfactory
Cash flow budget	To forecast the ability of a business for taking in more cash than it recompenses out (Barnhill, et al., 2021). □ Satisfactory OR □ Not yet satisfactory
Departmental budget	Provides additional control over expenses at the level of department permitting teams for coarsely analysing performance. □ Satisfactory OR □ Not yet satisfactory
Event budget	To control revenues and expenses and measure the effectiveness of the performance of an event or meeting. □ Satisfactory OR □ Not yet satisfactory
Project budget	Setting the expectations of expenditure is crucial in getting approval for the project, making sure that the funds are prepared at an accurate time and determining performance. □ Satisfactory OR □ Not yet satisfactory
Purchasing budget	For keeping track of the inventory value of the company and the amount of sold goods.□ Satisfactory OR □ Not yet satisfactory
Sales budget	For predicting the performance of the company. □ Satisfactory OR □ Not yet satisfactory
Wage budget	For understanding what percentage of the complete budget must go to the employees’ payroll. □ Satisfactory OR □ Not yet satisfactory
Overall Outcome for Question 7:  □ Satisfactory OR □ Not yet satisfactory

Question 8

What are the three (3) main types of financial plans? Include, for each type, the periods it usually covers and its main purpose.

Three main kinds of financial plans are given below: 1. Planning of cash flow 2. Planning of cash flow 3. Planning for retirement       □ Satisfactory OR □ Not yet satisfactory

Question 9

Briefly explain the following six (6) main taxation and superannuation obligations of an Australian company, including taxes that are paid through the Australian Tax Office.

Goods and Services Tax (GST) – It is the tax of 10% on most services, goods and other things consumed or sold in Australia.     □ Satisfactory OR □ Not yet satisfactory

Pay as You Go (PAYG) withholding – It is the process of withholding income tax from the wages or salary of a contractor or employee.         □ Satisfactory OR □ Not yet satisfactory

Fringe Benefits Tax (FBT) – It is the tax paid by the employers on profits paid to the worker in addition to their wages or salary.       □ Satisfactory OR □ Not yet satisfactory

Superannuation Contribution In this the employer should play at least 10% of the ‘ordinary earnings of time’ into the super account of the employees.       □ Satisfactory OR □ Not yet satisfactory

Payroll tax It includes 4.75% for all the employers who pay $6.5 million in taxable wages in Australia (Ralston, et al, 2020).         □ Satisfactory OR □ Not yet satisfactory

Australian Company Tax – All the companies in Australia have to pay 30% on their taxable income excluding medium or small companies of business.           □ Satisfactory OR □ Not yet satisfactory

Overall Outcome for Question 9:  □ Satisfactory OR □ Not yet satisfactory

Question 10

Answer the following questions relating to GST in Australia:

1. When does a business/enterprise and non-profit organisations have to register for GST? You are required to list four (4) items.

1. If the business has a turnover of GST of more than $75,000 2. If an NGO has a turnover of GST of more than $150,000 3. If the person give travels by taxi regardless of the turnover of GST 4. If the person wants to claim the tax credits of fuel for the business regardless of the turnover of GST   □ Satisfactory OR □ Not yet satisfactory

1. When do you need a tax invoice to claim a GST credit?

We need the invoice of tax to claim the credit of GST for all the purchase that cost more than A$82.50 □ Satisfactory OR □ Not yet satisfactory

1. What eight (8) details must be identifiable on a tax invoice for sales over AUD $1,000.00?

1. Invoice of tax 2. Issue date 3. Identity of person 4. ABN of person 5. Description of item or service 6. GST amount 7. the amount of sales including GST 8. sales over $1,000       □ Satisfactory OR □ Not yet satisfactory

 

1. What accounting method would a small business with an aggregated turnover of less than $2 million use to account their GST?

He will method of Cash Accounting.   □ Satisfactory OR □ Not yet satisfactory

Overall Outcome for Question 10:  □ Satisfactory OR □ Not yet satisfactory

Question 11

To work as a business and be entitled to an ABN, what five (5) activities might you be undertaking according to the Australian Taxation Office?

Five activities are: 1. Registering the superannuation activity 2. Renting out the property residential 3. Activities of commencement 4. Carrying on the enterprise 5. Managing the business of other countries operating in Australia       □ Satisfactory OR □ Not yet satisfactory

Question 12

According to the ATO website, what four (4) obligations are you likely to have if you have an ABN?

1. Register for GST 2. Lodge statements of activity 3. register for withholding of PAYG 4. Meet other regulatory obligations of state or federal □ Satisfactory OR □ Not yet satisfactory

Question 13

Outline the key requirements around tax for companies in Australia covering-

1. how annual tax is reported

Annual tax will be reported by paying to the Australian Taxation Office, and the federal tax rate will be charged as the 30% on the taxable income.   □ Satisfactory OR □ Not yet satisfactory

1. The most common method by which it is paid

It will be paid to the Australian Taxation Office.   □ Satisfactory OR □ Not yet satisfactory

1. The current tax rate for companies with an aggregate annual turnover of more than $50 million

30% is the income tax rate for all the companies who have their turnover more than the $50 million. □ Satisfactory OR □ Not yet satisfactory

1. The small business tax rates (e. for businesses with an aggregate annual turnover up to $50 million) for each of the financial years 2020, 2021, and 2022

Tax rate is 25% of the small businesses whose turnover is less than the $50 million.   □ Satisfactory OR □ Not yet satisfactory

Overall Outcome for Question 13:  □ Satisfactory OR □ Not yet satisfactory

 

Question 14

1. What is PAYG Withholding?

PAYG withholding is preventing the workers and employees to pay the large amount of tax in the financial year. The tax has to be paid to the Australian Taxation Office.     □ Satisfactory OR □ Not yet satisfactory

1. If you make payments subject to withholding, what are the four (4) things the Australian Tax Office requires a business owner to do?

Four things include such as – 1. Wages records and payment records 2. employment termination permanent records. 3. voluntary agreements 4. record of all the financial statements, payment summary statements. □ Satisfactory OR □ Not yet satisfactory

Overall Outcome for Question 14: □ Satisfactory OR □ Not yet satisfactory

Question 15

Summarise the following four (4) key Australian business taxes as outlined by Austrade and the relevant legislation for each.

Company tax – All companies registered as the Australian Businesses have to pay the federal tax rate of 30% and it will be paid on the taxable income. For small and medium businesses, the tax rate charged is 25% (Harding, et al. 2018).   □ Satisfactory OR □ Not yet satisfactory

Goods and Services Tax – 10% is charged on the goods and services on the sale of items in the Australian business, and GST is considered as the value added tax which is charged as the 10%.       □ Satisfactory OR □ Not yet satisfactory

Payroll Tax ­– The payroll tax rate that is charged on the business is 4.75% for all the employers who pay %6.5 million in the Australian Taxable wages (Ralston, et al, 2020).       □ Satisfactory OR □ Not yet satisfactory

Capital Gains Tax – Capital gains tax is charged on the assets of the net gain or net loss when it will be sold (Harding, et al. 2018).         □ Satisfactory OR □ Not yet satisfactory

Overall Outcome for Question 15: □ Satisfactory OR □ Not yet satisfactory

Question 16

1. What is the period that a business owner is required to keep financial records for taxation purposes?

Record must be kept for 8 years to keep all the financial records and that will be kept for the taxation purpose. □ Satisfactory OR □ Not yet satisfactory

1. When does the period that you answered in Q7 a) above start from?

It will be start from the beginning of cash balance and the period will be start from the first month of the financial year. □ Satisfactory OR □ Not yet satisfactory

 

1. What records should be kept

All the financial statements must be kept and records including cash inflow and cash outflow.   □ Satisfactory OR □ Not yet satisfactory

Overall Outcome for Question 16: □ Satisfactory OR □ Not yet satisfactory

Question 17

What are the four (4) key requirements for financial record keeping and auditing?

1.     Supporting documentation 2.     Retention and disposal of records 3.     For auditing have all the financial records and statements (Bhuiyan, et al., 2020). 4.     General ledgers, receipts and invoices.   □ Satisfactory OR □ Not yet satisfactory

Question 18

What are the five (5) elements that form the underlying principles for effective management of work teams?

Five elements are such as – 1. Planning – Planning means identifying the goal or objective that need to achieve and plan activities to achieve a goal. 2. Organizing – Organizing simply means allocating the resources and activities to achieve objectives. 3. Staffing – Staffing simply means hiring and recruiting employees for the organization (Lobodina, et al., 2019). 4. Directing – Directing simply means guiding employees to achieve the direction and goal of the organization. 5. Controlling – Controlling means identifying the deviations and determine whether they are negative or positive (Lobodina, et al., 2019).   □ Satisfactory OR □ Not yet satisfactory

Question 19

What are the basic principle and techniques involved in effective management of each of the following financial matters-

1. Budgeting

Principle of Annuality implies that the budget will be prepared in the organization on the annual basis, as well as rule of lapse will be used.   □ Satisfactory OR □ Not yet satisfactory

1. Cash flows

Cash flow will be prepared in which all the investing, operating and financing activities will be mentioned in which the cash inflow and cash outflow will be determined. Incremental cash flow principle is the principle is used. □ Satisfactory OR □ Not yet satisfactory

1. Electronic spreadsheets

For preparing the electronic spreadsheets in which all the financial statements will be prepared, then MS Excel will be used as the technique.   □ Satisfactory OR □ Not yet satisfactory

1. GST

GST means the Goods and Service tax in which GST will be charged on the goods and services that are produced in the organization.   □ Satisfactory OR □ Not yet satisfactory

1. Ledgers and financial statements

Ledgers and financial statements will be prepared and then the journals and the dual principle will be used in which the credit and debit entry will be made of each transaction (Razafiarivony, et al., 2022).   □ Satisfactory OR □ Not yet satisfactory

 

1. Profit and loss statements

For profit and loss statements, expenses and income will be recorded of the financial year of the organization. Revenue recognition as well as the matching principle will be used for recording all the financial statements.   □ Satisfactory OR □ Not yet satisfactory

1. Evaluation of budgets and financial plans

Universality and specification as the budgetary principles used for the evaluation of budget and financial plans (Razafiarivony, et al., 2022).     □ Satisfactory OR □ Not yet satisfactory

Overall Outcome for Question 19: □ Satisfactory OR □ Not yet satisfactory

 

 

**** END OF ASSESSMENT TASK 1 ****

What do I need to hand in for this task?	Have I completed this?
Your answers to each question	o

 

 

 

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ASSESSMENT TASK COVER SHEET – ASSESSMENT TASK 2

Student: Please fill out your details and date of submission and complete the declaration. Keep a copy of your submission.

Student Name
Student ID
Date of submission
Course / Qualification	BSB50120 Diploma of Business (Business Operations)
Unit(s)	BSBMGT517 Manage budgets and financial plans

Student declaration

I <Insert your name>__________________________________________declare that this is my own work and:

□ None of this work has been completed by any other person.

□ I have not cheated or plagiarised the work or colluded with any other student/s.

□ I have correctly referenced all resources and reference texts throughout these assessment tasks.

□ I understand that if I am found to be in breach of policy, disciplinary action may be taken against me.

Student Signature: ___________________________________________________________________________________________

Assessor to complete
Assessment requirements	Satisfactory/ Not satisfactory	Attempt (pls circle)
Activity 1: initial evaluation and budget outcomes report		1     2     3
Activity 2:facilitate a Budget Meeting (Roleplay)		1     2     3
Activity 3: identify & implement improvements  to financial management processes		1     2     3
Overall Outcome for Assessment Task 2:

ASSESSOR FEEDBACK – Detail any gaps identified and any reassessment requirements

(if more space is required, continue on reverse of this page)

 

Assessors: Please provide a copy of this cover sheet to the student with assessment results and feedback. The original copy must be supplied to the office and kept on the student’s file with the evidence.

____________________________________________________________________________________________________________

____________________________________________________________________________________________________________

____________________________________________________________________________________________________________

____________________________________________________________________________________________________________

____________________________________________________________________________________________________________

Assessor Signature:  …………………………………………………………………………………Date: ………………./…………………/…………….

Assessor Name: ______________________________________________________________________________________________

 

 

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Assessment Task 2: Case Study and Roleplay

Task summary:

This assessment task has three (3) activities.

o    Activity 1: You are required to undertake an initial evaluation of the budget outcomes

o    Activity 2: You are required to facilitate a Budget Meeting (Role play)

o    Activity 3: You are required to identify & implement improvements  to financial management processes

 

• You will have three (3) hours to complete this assessment, which may be undertaken in more than one session.

Resources and equipment required to complete this assessment

• Computer and Microsoft Office/ Email
• Handout – Marino Enterprises Budget and Financial Management Policy & Procedures
• Handout (soft copy) – Marino Hotel Budget Report
• Access to the internet
• Meeting space

Note: Clinton Institute will provide all the forementioned to complete this assessment

When and where do I complete this task?

This task is to be completed in the classroom. Your assessor will advise on the date(s) and time(s) of the assessment , which may be undertaken in more than one session.

What do I need to submit and Do?

What do you need to do?	What evidence is required?
Activity 1: Undertake an initial evaluation of the budget outcomes by calculating deviations	·         Marino Hotel Budget report ·         your answer to Activity 1.4
Activity 2: Facilitate a Budget Meeting (Role play)	Nothing, however your assessor will complete an observation checklist.
Activity 3: identify & implement improvements  to financial management processes	·         your answer to Activity 3.1 ·         email to implement changes to financial management processes ·         email to summarise changes to the budget and financial plans

Decision Making Rules

Assessors will compare student responses/performance with the model responses and performance descriptors contained in the Assessors Marking Guide. Your responses do not have to be verbatim (unless otherwise specified), but must convey the same meaning as each component listed. Similarly, you do not have to perform exactly as described in the marking guide (unless otherwise specified), but you must address each performance components listed.

You must achieve a satisfactory result for every question and component to achieve a satisfactory result for this assessment activity.

What happens if I get something wrong?

If your assessor sees that you have not completed all parts of this task satisfactorily, the details of resubmission will be advised by your Assessor in writing and discussed with you directly.

 

 

Students Instructions:

Access and review relevant Marino Enterprises workplace policies and procedures which should be followed wherever appropriate when undertaking the activities for this Assessment Task 2 and for the following Assessment Task 3, provided as-

• Handout – Marino Enterprises Budget and Financial Management Policy & Procedures

Read the case study background following and then complete each of the activities following.

Rounding of answers

Answers must be rounded up to the nearest:

• Whole dollar where any $ answer is relevant

• 1^st decimal point where any % answer is relevant

Case Study background You are the General Manager with Marino Enterprises and oversee the operations for their various venues. John Marino, one of the owners of Marino Enterprises, has asked you to monitor and review revenue budget outcomes for one of the hotel businesses, Marino Hotel, and present an evaluation of the budget and financial plans. The owners are keen to identify issues that need to be addressed as identified from the evaluation of the data, to ensure that they optimise the viability of the business while retaining market share, market position and their high product and service standards. You have been presented with the following data, which is also available in the soft copy Handout – Marino Hotel Budget. Marino Hotel Selected budget data Item Projected/Budgeted figure Actual figure Room Sales 20,000,000 12,000,000 Food sales 5,000,000 9,000,000 Liquor sales 3,000,000 5,000,000 Wages 2,100,000 2,500,000 Rent 1,000,000 1,200,000 Overheads 500,000 450,000 COGS 900,000 1,750,000 COGS % 30% 35%

Activity 1

1. Access the soft copy of the budget and financial plans, which are provided as the Microsoft Excel spreadsheet –

• Handout – Marino Hotel Budget Report

2. Undertake an initial evaluation of the budget outcomes so that you will be able to brief the business owners and your Operations Manager for the Marino Hotel in a budget review meeting for the following reporting cycle.

As the bases of your evaluation, calculate, for each budget line item (i.e. Room sales, Food sales, Liquor sales, Wages, Rent and Overheads):

1. the dollar deviations, and
2. the percentage deviations

Note that you are required to develop the appropriate Excel formulae for the spreadsheet to perform the calculations, which must also indicate whether each deviation is favourable or unfavourable.

 

3. Print and attach the report from the spreadsheet to your submission.

***insert  your Marino Hotel Budget report showing the deviations here***

 

Task 2 Activity 1 continued

4. To better understand the importance/significance of the budget outcomes, list the unfavourable deviations for Property 1 in order of % significance, starting with the most significant unfavourable result.

In the above table, the deviations have been identified for each of the different sales and it has been determined that food sales are different from the room sales as well as from the liquor sales. There are some positive deviations as well as negative deviation.  In the room sales of the Marino Hotel, there are negative deviations, in which the actual sales are less the budget sales. Food sales are positive and it simply means that the actual sales are more than the budget sales. The deviation is positive and it leads to increase in all over the sales (Pei, et al., 2019). Liquor sales have the positive deviation, in which the actual sales are more than the budget sales. And it has 66.7% as the deviation in the liquor sales. Rent has the negative deviations because the actual rent is more than the $2,00,000. Budget rent was determined as $10,00,000 and the actual rent is $12,00,000. Rent is 20% negative.               □ Satisfactory OR □ Not yet satisfactory

 

 

 

 

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Assessment Task 2 continued

Activity 2

Facilitate a Budget Meeting (Role play)

You are required to facilitate a meeting with John Marino, one the business owners, and your Marino Hotel Operations Manager, to-

• report the budget outcomes and reach agreement on the evaluation of the results,
• identify required improvements to the existing financial management processes, and

• negotiate any changes required to the budget and financial plans for the next period.

During the meeting you must:

1. use appropriate structure and language for the audience.
2. Uses active listening and questioning to clarify information and to confirm understanding.

• Use a range of strategies to strategies to connect, collaborate and cooperate with your work colleagues.

Your assessor will play the role of John Marino, representing the business owners,  and ask another student (not being assessed during this simulated meeting), to play the role of your Marino Hotel Operations Manager.

Your assessor will provide a general script for each role to be played.

 

Roleplay Cast:

As a minimum the following individuals will be at the meeting;

• Marino Enterprises General Manager – student being assessed
• Marino Hotel Operations Manager -Assessor
• John Marino (Owner) – another student

General instructions for all role players include:

• Actively participate in the roleplay by acknowledge information provided
• Offer additional information or comment only when prompted and only as included in the script provided for your role.

• respond to open questions, by elaborating and providing additional information as scripted.

• respond to closed questions, with a single word reply.

The other participants will be provided with a general script for each role to be played-

Specific instructions for role players include:

Role	Played by	Outline of Roleplay Script
Marino Enterprises General Manager	Student being assessed	·         present your  Marino Hotel Budget report  to the participants and explain the importance/significance of the unfavourable budget outcomes, and then- o    ask the participants if they agree with your findings and if they can provide further input or comment for the evaluation and for better controlling costs ·         ask the participants what changes should be made to the budget and financial plans for the next budget reporting period ·         seek out and consider all feedback that relates to the effectiveness of improvements to financial processes, so that you are able to make appropriate recommendations in Activity 3 following.

Role play

General Manager – Good Morning Sir!

Business Owner – Good morning, what we will be going to discuss?

General Manager – Today, we are going to discuss about the budget report and the actual sales and budget sales are determined. Also, the different expenses are recorded such as wages, and rent will be determined of the organization of the financial year.

Business Owner – Okay great, so tell me which have the deviations?

General Manager – Sir, we have identified as the negative and positive deviations in the organization. Also, every income and expense have the different negative as well as positive deviation. Room sales have the negative deviation, as well as liquor sales and food sales have the positive deviation.

Business owner – Okay then how can we improve the budgets?

General Manager – Sir, we can allocate the resources properly effectively and efficiently and it ensure that every employee must use the resources wisely.

Business owner – okay great.

General Manager – It ensure that all the resources will be used efficiently and there will be no wastage as well as there must be optimum utilization of resources.

Business Owner – Okay great, it sounds good. Then tell me how much you budget used in the rent and cost of goods sold?

General Manager – Sir, for rent the actual amount is $12,00,000 and the actual amount of cost of goods sold is $17,50,000.

Business Owner – Okay.

General Manager – Okay sir then we can end the meeting. Thank You.

 

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Budget meeting (Roleplay)

Observation Checklist

Name of Student being assessed: Chair –  Roleplay as Marino Enterprises General Manager
Location:
Name of Assessor: Roleplay as Marino Hotel Operations Manager
Other roles played:	John Marino (business owner representative)
Assessors are to write “S” or “NYS” for each line item (row). If the student gets the item correct on the first attempt, the second and third attempt columns do not have to be completed. If a student gets the item correct on the second attempt, there will be a “NYS” on the first attempt, a “S” on the second attempt and the third attempt will be left blank. Students are allowed a total of three attempts. Note that to obtain a satisfactory outcome for this assessment activity, students must achieve a satisfactory outcome for every line item and each sub point. Date: Did the Student: Comment if required Attempt 1 Attempt 2 Attempt 3      i.            Present the report of the Budget outcomes and the initial evaluation            ii.            Reach agreement on the evaluation and significance of the budget outcomes             iii.            Seek input to identify improvements in the financial management processes   iv.            Negotiate the changes required to the budget and financial plans for the next period    v.            Use appropriate structure and language for the positions in the roleplay   vi.            Use active listening and questioning to clarify information and confirm understanding vii.            Use a range of strategies to connect, and collaborate with work colleagues Outcome for Task:  □ Satisfactory OR □ Not yet satisfactory Assessors Comments (Assessors must insert a comment to explain any instance where a student does not achieve a satisfactory outcome for a specific item).           Assessors Signature: Date:

 

 

 

 

 

Assessment Task 2 continued

 

Activity 3

1. Based on the discussions in the Budget Meeting in Activity 2, what two (2) improvements would you recommend to the existing financial management processes?

 

Answer

2 improvements that will be recommend to the existing financial management processes are such as allocation of resources must be done properly and also the monitoring of budget must be done effectively so that deviations will be identified and actions will be taken to reduce the deviations and ensure that all the budget must be prepared by the allocation of resources, and ensure that all the customers must be pay on time, meeting the tax deadlines as well so that the company can maintain their reputation in the business. Control overheads as well as recording the day-to-day costs must be maintained (Pei, et al., 2019).

 

2. Prepare and send an email to the Marino Hotel Operations Manager, copying John Marino (business owner representative), to implement the above recommendations, which are assumed to be agreed as they were instructed to by the business owner. Your instructions must also include instructions to ensure that any relevant record-keeping requirements for Australian Taxation Office (ATO) and for auditing purposes are maintained.

Answer

Email to Marino Hotel Operations Manager

To: manager@hoteloperations.au.in

From: generalmanager@hoteloperations.au.in

Subject – Attaching the recommendations

Respected Sir,

Herein I am informing you that I have suggested some recommendations and those recommendations will be implemented  in the organization to improve the daily operations as well as ensure that all the record keeping requirements must be met in the organization as well as the performance of all the employees will be recognized and determined so that it will be improved and we need to keep records of the financial statements for the next eight years and ensure that all the auditing purposes will be maintained.

Thank You

General Manager

Marino Hotel Operations

3. Print and submit a copy of your email.
4. Prepare a 2^nd email to the Marino Hotel Operations Manager, copying John Marino (business owner representative), to summarise the changes to the budget and financial plans for the next period.

Email to Marino Hotel Operations Manager

To: manager@hoteloperations.au.in

From: generalmanager@hoteloperations.au.in

Subject – Attaching summarizing the changes

Respected Sir,

Herein I am informing you that the changes have been made in the financial plans such as we need to track the progress of all the employees and track the preferences of customers as well. Targeting the customers will be used to identify their needs and preferences as well as changes will be made in the financial plans of the budget for the next period. Kindly review them and let me know if any changes are required.

 

Thank You

General Manager

 

5. Print and submit a copy of your 2^nd email.

***insert a copy of your 1^st email (re financial management systems)***

&

***a copy of your 2^nd email (changes to budget and financial plans) here***

**** END OF ASSESSMENT TASK 2 ****

What do I need to hand in for this task?	Have I completed this?
Marino Hotel Budget report with deviations	o
your answer to Activity 1.4	o
Budget Meeting Roleplay Observation checklist	assessor to complete
your answer to Activity 3.	o
email re changes to  financial management systems)	o
email re changes to budget for next period	o

 

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ASSESSMENT TASK COVER SHEET – ASSESSMENT TASK 3

Student: Please fill out your details and date of submission and complete the declaration. Keep a copy of your submission.

Student Name
Student ID
Date of submission
Course / Qualification	SIT50416 Diploma of Hospitality Management
Unit(s)	BSBMGT517 Manage budgets and financial plans

Student declaration

I <Insert your name>__________________________________________declare that this is my own work and:

□ None of this work has been completed by any other person.

□ I have not cheated or plagiarised the work or colluded with any other student/s.

□ I have correctly referenced all resources and reference texts throughout these assessment tasks.

□ I understand that if I am found to be in breach of policy, disciplinary action may be taken against me.

Student Signature: ___________________________________________________________________________________________

Assessor to complete
Assessment requirements	Satisfactory/ Not satisfactory	Attempt (pls circle)
Activity 1: develop and implement contingency plans.		1     2     3
Activity 2: facilitate a Budget-update Meeting (Role play)		1     2     3
Activity 3:review and modify the contingency plans		1     2     3
Overall Outcome for Assessment Task 3:

ASSESSOR FEEDBACK – Detail any gaps identified and any reassessment requirements

(if more space is required, continue on reverse of this page)

 

Assessors: Please provide a copy of this cover sheet to the student with assessment results and feedback. The original copy must be supplied to the office and kept on the student’s file with the evidence.

____________________________________________________________________________________________________________

____________________________________________________________________________________________________________

____________________________________________________________________________________________________________

____________________________________________________________________________________________________________

Assessor Signature:  …………………………………………………………………………Date: ………………./…………………/…………….

Assessor Name: ______________________________________________________________________________________________

 

 

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Assessment Task 3: Case Study (continued) & Roleplay

Task summary:

This assessment task is in three (3) activities.

• Activity 1: You are required to develop and implement contingency plans
• Activity 2: You are required to facilitate a Budget-update Meeting (Role play)
• Activity 3: You are required to review and modify the contingency plans

You will have three (3) hours to complete this assessment,  which may be undertaken in more than one session.

Resources and equipment required to complete this assessment

• Student Leaner Guide for this Unit
• Computer
• Access to the Internet
• Handout – Marino Enterprises Budget and Financial Management Policy & Procedures
• Handout – Contingency Plan template (2 copies req’d)
• Meeting space

Note: Clinton Institute provides students with access to a computer and internet

When and where do I complete this task?

This task is to be completed in the classroom. Your assessor will advise on the date(s) and time(s) of the assessment.

What do I need to submit and do?

What you need to do:	What evidence is required:
Activity 1: develop and implement contingency plans	·         Contingency Plan ·         Copy of email to implement the Contingency Plan
Activity 2: Facilitate a Budget-update Meeting (Roleplay)	Your assessor will complete an observation checklist.
Activity 3: Review and modify the Contingency Plans	·         modified Contingency Plans

Decision Making Rules

Assessors will compare student responses/performance with the model responses and performance descriptors contained in the Assessors Marking Guide. Your responses do not have to be verbatim (unless otherwise specified), but must convey the same meaning as each component listed. Similarly, you do not have to perform exactly as described in the marking guide (unless otherwise specified), but you must address each performance components listed.

You must achieve a satisfactory result for every question and component to achieve a satisfactory result for this assessment activity.

What happens if I get something wrong?

If your assessor sees that you have not completed all parts of this task satisfactorily, the details of resubmission will be advised by your Assessor in writing and discussed with you directly.

 

 

 

Assessment Task 3: Case Study (continued)

Students Instructions:

Case Study – continuing from Assessment Task 2 John Marino, as representative of the business owners, has responded to your email to the Marino Hotel Operations Manager which summarised the changes to the budget and financial plans for the next period.  John Marino has asked you to develop, as a contingency plan, strategic responses to cover the three main budget risks which he considers would have significant impacts if not achieved, being- The Covid-19 Pandemic continues to, and significantly further restricts, Room Sales (which John regards as having a medium likelihood); The recent Food & Liquor Sales increases are not maintained at the increased levels (which John considers as a low likelihood); and ·         The revised COGS Target of 30% is not achieved (which John also considers has a low likelihood)

 

Activity 1

1. Using the template provided as –

• Handout – Contingency Plan template

develop the Contingency Plans for Marino Hotel to address the concerns raised by John Marino.

Your Contingency Plan must, for each budget risk identified by John Marino –

• • rate the likelihood as low, medium or high
  • briefly summarise the most significant impact on either revenue, profits , losses, or cashflow
  • suggest an appropriate strategic response
  • suggest what preparation could be done now
  • nominate the responsible Manager for those preparations

• Financial Contingency Plan

Budget Risk	Likelihood	Impact	Response Strategy	Preparation	Responsibility
Make the risk handle plan to provide the company with better deals.	5	This will disturb the working policy of the organization (Wang, et al., 2020).	They have to make an important plan to reduce these issues in the company.	They have to examine the company value and the working policy to reduce these issues in the organization.	The operation manager and the management team of the organization will have the responsibility to reduce these issues.
They have to handle the internal issue of the organization to make sure these will not be able to repeat in the company.	It would be stay between 4-5	This will disturb the internal working areas of the organization and since create in the different departments of the company and co-workers.	They have to make sure to handle these issues seriously and handle the problem of the company related.	To reduce the risk in the organization they have to go through the examination process of the organization and do the communication and meetings with the stakeholder and the other members of the company.	The company members and the stakeholder also, the other management team members and the marketing department member is responsible for this issue solution.
They have to increase the amount of the funds in the organization and for this, they have to make sure to handle the things.	This is the highest level of the risk at 5	This will reduce the production level of the company and reduce the company valuation in the marketing teams (Alamo, et al., 2021).	They have to find out the solution to the company’s risk and make a better plan for their development (Alamo, et al., 2021).	They will communicate with the members of the company and they will increase the amount to invest in the company these are funds that help the organization to get better results.	The finance team and the finance manager also, the investors and the other people of the marketing team are responsible for this.

 

 

 

2. Prepare and send an email to the Marino Hotel Operations Manager, copying John Marino (business owner representative), to distribute and implement the Contingency Plan.

Email

To: marinohoteloperationmanager@au.in

From: johnmarino@au.in

Hello sire,

The motive behind sending this email to you is to tell you about the contingency plan and the importance of this plan in the market. This is the reason behind this email is to make sure you implement this plan in the organization to get a better and more innovative result in favor of implementing this result.

Thank you

Best regards

John Marino

3. Print and attach a copy of your Contingency Plan to your submission.

 

***insert your Contingency Plan***

&

***insert a copy of your email to implement the Contingency Plan here**

Assessment Task 3 continued

Activity 2

Facilitate a Budget-update Meeting (Role play)

Case Study update It is now 3 months since you advised  the changes to the budget and financial plans for the next period and instructed the Marino Hotel Operations Manager to implement the Contingency Plan. You now want to monitor the how the Marino Hotel is performing so far in this new period, evaluate the improvements made to the financial management processes, and check the status of the Contingency Plan and consider any amendments that may be appropriate.

You are required to facilitate a 2^nd meeting with your Marino Hotel Operations Manager and the Marino Hotel management team to-

• Monitor the management team’s progress against the revised budget and the contingency plan,
• Identify any changes that may be appropriate,
• Evaluate the improvements to the financial management processes,

During the meeting you must:

1. use appropriate structure and language for the audience.
2. Uses active listening and questioning to clarify information and to confirm understanding.
3. Use a range of strategies to strategies to connect, collaborate and cooperate with your work colleagues.

Your assessor will play the role of the Marino Hotel Operations Manager,  and ask other students (not being assessed during this simulated meeting), to play the roles of the Marino Hotel Marketing Manager and Finance Manager.

Your assessor will provide a general script for each role to be played.

Roleplay Cast:

As a minimum the following individuals will be at the meeting;

• Marino Enterprises General Manager (Student being assessed)
• Marino Hotel Operations Manager (Assessor)
• Marketing Manager (another student)
• Finance Manager (another student)

General instructions for all role players include:

• Participate in/ acknowledge information provided

The other participants will be provided with a general script for each role to be played.

Specific instructions for role players include:

Role	Played by	Outline of Roleplay Script
Marino Enterprises General Manager	Student being assessed	·         ask the participants if  the introduction of the Restaurant Metrics Workbook has  assisted in support staff to understand and meet the financial objectives of their job roles ·         ask the Finance Manager whether the Wages costs are now broken down between Room Sales activity and Food and Liquor sales Dining activity ·         ask the Operations Manager if the COGS- o    is now being monitored on a weekly basis, utilising physical stocktakes of food and liquor o    is now under control so that is not over 30%. ·         ask the Marketing Manager if Food & Liquor Sales increases are being maintained at the lower budget levels ·         ask the participants if they consider there may be any changes needed to the Contingency Plan

 

 

role play

General Manager- the meaning behind implementing this meeting is to check the management process of the management team.

Operations Manager  – yes sir we need to focus on the company management team to get a better result in the return of the company development.

Marketing Manager- the importance of the contingency plan in the organization is to increase the company value and helps the organization to get a better result.

Finance Manager- we also, have to improve the financial state of the organization. this is an important thing for the development of the organization.

General Manager- I can understand the importance of the contingency plan and the reason behind this and because of this we have to make sure to make a better plan for the company’s development.

Operations Manager  – also, the management team develops and makes a better plan for the organization and provides them with better policy to get the better and innovative results in the end.

 

Budget-update  meeting (Roleplay)

 – Observation Checklist

Name of Student being assessed: Chair –  Roleplay as Marino Enterprises General Manager
Location:
Name of Assessor: Roleplay as Marino Hotel Operations Manager
Other roles played:	Marketing Manager Finance Manager
Assessors are to write “S” or “NYS” for each line item (row). If the student gets the item correct on the first attempt, the second and third attempt columns do not have to be completed. If a student gets the item correct on the second attempt, there will be a “NYS” on the first attempt, a “S” on the second attempt and the third attempt will be left blank. Students are allowed a total of three attempts. Note that to obtain a satisfactory outcome for this assessment activity, students must achieve a satisfactory outcome for every line item and each sub point. Date: Did the Student: Comment if required Attempt 1 Attempt 2 Attempt 3      i.            seek input to assess whether support given had assisted staff in their job roles            ii.            confirm whether or not wages costs are broken down to activity             iii.            Confirm whether COGS is being monitored weekly and with physical stocktakes           iv.            Monitor whether or not COGS is now under control and not exceeding 30%             v.            Monitor Food & Liquor Sales to assess if the lower budget levels are being maintained           vi.            Seek input as to whether there are any changes needed to the contingency plans          vii.            Use appropriate structure and language for the positions in the roleplay         viii.            Use active listening and questioning to clarify information and confirm understanding           ix.            Use a range of strategies to connect, and collaborate with work colleagues         Outcome for Task:  □ Satisfactory OR □ Not yet satisfactory Assessors Comments (Assessors must insert a comment to explain any instance where a student does not achieve a satisfactory outcome for a specific item). Assessors Signature: Date:

 

Assessment Task 3 continued

Activity 3

1. Using a 2^nd copy of the template provided as –

• Handout – Contingency Plan template

review and modify the Contingency Plans for Marino Hotel to incorporate the changes suggested by the Marketing Manager during the meeting.

Update Financial Contingency Plan

Budget Risk	Likelihood	Impact	Response Strategy	Preparation	Responsibility
Make the risk handle plan to provide the company with better deals.	5	This will disturb the working policy of the organization (Wang, et al., 2020).	They have to make better plan procedures for the company’s development.	They have to examine the company value and the working policy to reduce these issues in the organization.	The operation manager and the management team of the organization will have the responsibility to reduce these issues.
They have to handle the internal issue of the organization to make sure these will not be able to repeat in the company.	It would be stay between 4-5	Improve the internal co-worker’s issues to reduce the chances of the risk in the organization.	They have to make sure to handle these issues seriously and handle the problem of the company related.	To reduce the risk in the organization they have to go through the examination process of the organization and do the communication and meetings with the stakeholder and the other members of the company.	The company members and the stakeholder also, the other management team members and the marketing department member is responsible for this issue solution.
They have to increase the amount of the funds in the organization and for this, they have to make sure to handle the things.	This is the highest level of the risk at 5	This will reduce the production level of the company and reduce the company valuation in the marketing teams (Alamo, et al., 2021).	They have to find out the solution to the company’s risk and make a better plan for their development (Alamo, et al., 2021).	They have to communicate with their team members for a better working policy. this is an important development in the organization.	The finance team and the finance manager also, the investors and the other people of the marketing team are responsible for this.

 

4. Print and attach a copy of your modified Contingency Plan to your submission.

***insert your modified Contingency Plan here***

 ***END OF ASSESSMENT TASK 3****

What do I need to hand in for this task?	Have I completed this?
Activity 1: ·         completed Contingency Plan template ·         copy of your email to implement the Contingency Plan	o o
Activity 2: Budget-update Meeting Roleplay Observation checklist	assessor to complete
Activity 3: modified Contingency Plan	o

 

Reference

Alamo, J., Quevedo, E., Santana, A., Ortega, S., Fabelo, H., Callico, G. M., & Zapatera, A. (2021). Sustainable Educational Robotics. Contingency Plan during Lockdown in Primary School. Sustainability, 13(15), 8388.

Barnhill, C., & Rundio, A. (2021). Developing a Cash Budget for the Savannah Squares. Case Studies in Sport Management, 10(1), 42-45.

Bhuiyan, M. B. U., & D’Costa, M. (2020). Audit committee ownership and audit report lag: evidence from Australia. International Journal of Accounting & Information Management.

Harding, M., & Marten, M. (2018). Statutory tax rates on dividends, interest and capital gains: The debt equity bias at the personal level.

Lobodina, Z. (2019). Theoretical and methodological principles of budget framework. Herald of Ternopil National Economic University, (1 (87)), 45-55.

Pei, J., Liu, X., Fan, W., Pardalos, P. M., & Lu, S. (2019). A hybrid BA-VNS algorithm for coordinated serial-batching scheduling with deteriorating jobs, financial budget, and resource constraint in multiple manufacturers. Omega, 82, 55-69.

Ralston, B. (2020). Does payroll tax affect firm behaviour?. Economic Papers: A journal of applied economics and policy, 39(1), 15-27.

Razafiarivony, M. A., & Hosna-Janeta, M. (2022). Effects of Financial Statements Quality and Users’ Knowledge on Decision Considerations and the Role of Satisfaction as a Potential Mediator. East African Journal of Business and Economics, 5(1), 35-47.

Saidakbarov, H. A. (2022). Process of Coordination of Financial Statements in Banks to International Standards (IFRS). International Journal of Multicultural and Multireligious Understanding, 9(4), 61-68.

Tanti, P. (2021). Tax Files: All in it together-Payroll Tax grouping. Bulletin (Law Society of South Australia), 43(9), 33.

Wang, J., Qi, H., Bao, L., Li, F., & Shi, Y. (2020). A contingency plan for the management of the 2019 novel coronavirus outbreak in neonatal intensive care units. The Lancet Child & Adolescent Health, 4(4), 258-259.

Wang, J., Qi, H., Bao, L., Li, F., & Shi, Y. (2020). A contingency plan for the management of the 2019 novel coronavirus outbreak in neonatal intensive care units. The Lancet Child & Adolescent Health, 4(4), 258-259.

 

 

BSBCMM511 Communicate with Influence

Student Declaration

To be filled out and submitted with assessment responses

◻   I declare that this task and any attached document related to the taskis 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.

◻   I have read and understood the assessment requirements for this unit

◻   I understand the rights to re-assessment

◻   I understand the right to appeal the decisions made in the assessment

 

 

 

Unit Title Unit Code
Student name
Student ID number
Student signature		Date
Task Number

 

 

 

 

 

 

 

 

 

 

 

 

——OFFICE USE ONLY—– For Trainer and Assessor to complete:   ◻   Student requested reasonable adjustment for the assessment

 

 

Question	Marking Sheet – Assessor to complete.   Did the student satisfactorily address each question as instructed:
	Completed satisfactorily
	S	NYS	DNS	Comments
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Task Outcome:                 Satisfactory  ☐Not Yet Satisfactory ☐
Student Name:
Assessor Name:   Assessor Signature:   Date:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Table of Content

 

Student Declaration.. 2

Task 1 – Knowledge Questionnaire. 5

Question 1.. 6

Question 2.. 7

Question 3.. 7

Question 4.. 8

Question 5.. 8

Question 6.. 9

References. 9

 

 

 

Task 1 – Knowledge Questionnaire

 

Task summary and instructions
What is this assessment task about?	This assessment is a written questionnaire with a mix of objective and subjective questions.   The questionnaire is designed to meetthe knowledge required to meet the unit requirements safely and effectively.   The questions focus on the knowledge evidence required for this unit of competency:   ·         industry, media and government organisations, events and communication channels that are relevant to the organisation ·         cross-cultural communication ·         techniques for negotiation, mediation, conflict resolution and incident de-escalation ·         structured and inclusive meeting procedures ·         organisational policies and procedures relevant to: presenting and negotiating leading and participating in meetings making presentations ·         communication tone, structure, style and impact on others ·         relevant organisational policies and procedures on confidentiality of information.   Your assessor will be looking for demonstrated evidence of your ability to answer the questions satisfactorily, follow instructions, conduct online research and review real or simulated business documentation as instructed.
What do I need to do to complete this task satisfactorily?	·         submit your answers to the questions within the set timeframe, ·         answer all questions as instructed, ·         answer all questions using your own words and reference any sources appropriately, ·         all questions must be answered satisfactorily.   It is advisable to:   ·         review the questions carefully, ·         answer the questions using online research and the learning material provided for the unit and by reviewing real or simulated relevant business documentation (such as policies and procedures), ·         further research the topics addressed in each question.
Specifications	You must submit to GOALS the   ·         assessment coversheet, ·         answers to all questions, ·         references.
Resources and equipment	•        computer with Internet access, •        access to Microsoft Office suites or similar software, •        learning material.
Re-submission opportunities	You will be provided feedback on your performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task. If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you with written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date. You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal. You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the task.

 

Answerall the questions below:

 

Question 1

 

Consider the following three organisations:

• OzHarvesthttps://www.ozharvest.org/
• Marriot Hotels https://www.marriott.com.au/default.mi
• ANZ Bank https://www.anz.com.au/

For each organisation, identify the industry in which they operate, the media and government organisations they may liaise with, and events and communication channels they may use to promote their business.

Organisation	Industry	Media and government (3 in total/organisation)	Events and communication channels (3 in total/organisation)
OzHarvest	Perishable food rescue industry	1) Lendlease 2) Woolworths 3)	1) Social media 2) Newspaper 3) General Articles
Marriot Hotels	Hotel industry	1) SSgA Funds Managements, Inc. 2) The Vanguard Group, Inc. 3) Blackrock Fund Advisors	1) Social media 2) Newspaper 3) General Articles
ANZ Bank	Banking financial service	1) Yousif Capital Management LLC 2) Envestnet Asset Management, Inc.	1) Social media 2) Newspaper 3) General Articles

 

Question 2

 

Address the following questions about cross-cultural communication:

Question	Answer
What is cross-cultural communication?	Cross culture communication is that communication which is recognizing both differences and similarities among cultural groups. It delivers an understanding.
List two (2) principles of cross-cultural communication.	1) Ignored slang 2) Maintain protocol
Why is cross-cultural communication important? (30-50 words)	Good Cross-culture communication is important because it helps to improve communication among people from dissimilar cultures. It nurtures superior trust.
List three (3) barriers to cross-cultural communication.	1) Perceptual barriers 2) Categorises 3) Emotional display

 

Question 3

 

Address the following questions:

Question	Answer
Define negotiation. (30-50 words)	Negotiation is a strategic discussion.It resolves problems in a way that both parties agree.(Saunders, et al 2016)
Define mediation. (30-50 words)	Mediation is a flexible dispute resolution process. It is intercession among conflicting parties to promote settlement
Why is conflict resolution important in the workplace? (30-50 words)	Conflict resolution is vital for the workplace as it helps to maintain a positive and good environment for all employees.
Why is it important to de-escalate incidents in the workplace? (30-50 words)	De-escalate incidents is necessary because it can help the employee to understand the reasons for anger, and how can deal with aggressive nature.
Research, select and briefly outline four (4) techniques for negotiation, mediation, conflict resolution, and incident de-escalation.	Technique	Outline (20-40 words/technique)
	1) Negotiation	Negotiation refers to that process in which each party agrees with the other.
	2) Mediation	Mediation helps to settle arguments and create an agreement.
	3) Conflicts resolution	Conflict resolution is helpful for parties to find a relaxing solution to the dissimilaritybetween them.
	4) Incident De-escalation	De-escalation reduces the force of crisis.

 

 

Question 4

 

Address the following questions:

Question	Answer
What is an inclusive meeting?	An inclusive meeting where every employee has the right to speak without any fear. And authorized to actively contribute.
What is a structured meeting?	A structured meeting invitea team of expert people to stabilised projectsand grows the sta of the decision.
Select and outline three (3) structured and briefly inclusive meeting procedures you could use when managing meetings.	Procedure	Outline (30-50 words/procedure)
	Be realistic with time	Be realistic during a meeting in other ways be clear on what topic meetings are conducted.
	Pay attention to where you sit.	Paying attention to where you sit is important when you manage a meeting, helps you to focus on the meeting.
	Provide agenda	1) Meeting minute 2) Mail to employee and stakeholders to inform them about meeting 3) stay focused

 

Question 5

 

Review the policies and procedures folder provided.

Review the following policies and procedures:

1. Meeting procedures
2. Communication policy
3. Information management policy
4. Marketing policy

 

Briefly outline the structure and content of each of the policies and procedures, and explain how they may relate to one or more of the following:

• Presenting and negotiating
• Leading and participating in a meeting
• Making a presentation
• Confidentiality of information

 

Policies and procedures	Outline (40-80 words/policy and procedures)
Meeting procedures	Meeting procedures is the agenda. When a meeting is conducted by the chair or presented by the chair for approval.
Communication policy	Communication policy is a set of the remedy and standards placed down to guide the behavior of communication.
Information management policy	It gives responsibility to the agency and gives staff a path for generating assets.
Marketing policy	Marketing policy is a set of primary defined in confident brands and products. marketing policy is a must to make for every company to achieve their future and current market goal.

 

Question 6

 

Explain how the communication tone, structure and style may impact on others. Provide an example of each.

Question	Answer
Explain how the communication tone, structure and style may impact on others. (40-80 words)	When you communicate to other then the tone of communication should be clear, and properly structured. It affects how people observe you but similarly their readiness to listen to you.(Kirkman,2012).
Examples	Communication…	Example
	Tone	Confident, educator-informs others
	Structure	1) practical 2) central
	Style	1) Passive 2) Aggressive

 

References

 

Kirkman, J. (2012). Good style: writing for science and technology. Routledge. https://www.taylorfrancis.com/books/mono/10.4324/9780203023655/good-style-john-kirkman   Lewicki, R. J., Barry, B., & Saunders, D. M. (2016). Essentials of negotiation. McGraw-Hill Education. https://lib.hpu.edu.vn/handle/123456789/32516

 

 

 

 

 

 

 

 

 

BSBFIN601 MANAGE ORGANISATIONAL FINANCES

 

Question 1

In the profit and loss statement, we can identify the profits and losses in three easy steps are as follows:

Calculate the total revenue: in the P&L A/c, we have to calculate the total revenue for knowledge of the total income. (Puaschunder,  2017).

Calculate the cost of goods sold: it is the costs of the goods we sold in the hall year if we know how much we sold we can calculate the total goods sold

Calculate operation expenses: from the total revenue we less the total operating expenses we get the gross profit and loss after we less the tax the net profit and loss. (Puaschunder,  2017).

Question 2

The financial probity is the strict obedience to the code of the ethics it is based on absolute honesty and the some of the principles the probity has like acting fairly or the impartially and integrity. Because the probity is complete and the confirmed integrity. the requirement to prepare or lodge financial reports or usually at the end of the financial year. And all of the company’s proprietary must be keeping sufficient financing for the records to the record and the financial position, or allow true. (Bosire, 2016).

Question 3

The four examples of the fraudulent behaviors in the regard to the company’s finances are as follows:

Identity theft sometimes someone steals personal information to the committed fraud

Payroll fraud is the type of asset misappropriation of a medium-sized business.

One person how driving a company car for its personal use.

Return fraud is when the customers receive the financial gain and the returns by the tacking in some advantage of the business

Question 4

The five functions of the accounting software used by the manager in the financial software we use for this company is MYOB software. It is the software the company currently using but it has grown, the company is working on the principal consultant’s wishes for the review. Abd this software is the best software for accounting for the available needs and it is also helpful for the financial budget to make the budget we have to analyze the condition of the business in the financial. What condition is running Then we make the budget. The financial software we use for this company is MYOB software. It is the software the company currently using but it has grown. For the budget preparation, we can use the MYOB many software is the ERP accounting software it helps for the package used for the recording day to day sale purchase data of the company. And in this software go to the command of the account in the center and we can also click the accounts list and the click the budget at the top of the window. It is all about the management how we manage the financial management we have to clear the business plan for this and we have to know the day-to-day costs. And also keeping the day-to-day accounts records are as follows:

Online payments

Bank reconciliation

Expense tracking

Invoicing or the billing.

Question 5

The three components of the budget:

Revenues.

Discretionary spending.

Direct spending

Question 6

Goods and services tax (GST) the GST is the indirect tax in Australia the GST rate on goods and services is 10% of the price of the goods and services

Pay as you go PAYG in the small business owner over the need to help the over employee take care of the tax with the pay as you go withholding. The pay as you go withholding is the system of the withholding income tax from the employers or the contractors like salary or the wages The pay-as-you-go installments are regular to the prepayments of the tax by the business and its investment income. Ans it is the system of the making regular the payment towards the over expected in annual the income taxes liability. (Lignier, et al., 2014).

Payroll tax is the tax of the state tax on the ways or the other benefits paid by employers.

Company tax this tax is the charge on the profit the business makes. If the business gets the $10 million annually the 28.5% is the tax rate in Australia. (Lignier, et al., 2014).

Question 7

The corporation act 2001 in this act the requirement to the prepare or the lodge financial reports or the usually at the end of the financial year. all of the company’s proprietary must be keeping sufficient financing for the records to the record and the financial position, or allow true. In the company, we have requirements for financial compliance. When a company states the rules, or laws and the regulations

Question 8

The GST reporting requirements that apply to the GST are:

If over are voluntarily registered for GST in annually

Monthly if over GST turnover is $20 million or more than $20 million.

Quarterly if over total GDT turnover is less than $20 million. But we have not told you that you have most give the report monthly. (Shaik, et al.,2015).

Question 9

The pay as you go withholding is the system of the withholding income tax from the employers or the contractors like salary or the wages. Ans is the set amount of the income that the employers withhold from the employees to pay to the government directly with the name of the employees. Pay as you go (PAYG) in the small business owner over the need to help the over employee take care of the tax with the pay as you go withholding

The pay-as-you-go installments are regular to the prepayments of the tax by the business and its investment income. Ans it is the system of the making regular the payment towards the over expected in annual the income taxes liability

Question 10

Client	30 Days	60 Days	90 Days	120+ Days	Current	Total
Client 1			$4,356.00
Client 2				$2,714.00
Client 3		$3,781.00
Totals	$0.00	$3,781.00	$4,356.00	$2,714.00	$0.00	$0.00

According to the chart, some changes happen or appear in the different client sections. During the 30 days of the company, the company did not be able to receive the orders. Then this will describe the changes in the increment of the money and clients 1^st have the large level of the $4,356.00.

 

 

 

References

Bosire, K. K. (2016). The impact of integrated financial management information system (IFMIS) on financial probity in the public sector in Kenya (Doctoral dissertation, University of Nairobi).

Lignier, P., Evans, C., & Tran-Nam, B. (2014). Tangled up in tape: The continuing tax compliance plight of the small and medium enterprise business sector. Austl. Tax F., 29, 217.

Puaschunder, J. M. (2017). Nudgitize me! A behavioral finance approach to minimize losses and maximize profits from heuristics and biases. International Journal of Management Excellence, 10(2), 1241-1256.

Shaik, S., Sameera, S. A., & Firoz, C. S. (2015). Does goods and services tax (GST) leads to Indian economic development. IOSR journal of business and management, 17(12), 1-5.

 

LAW500- Business Law

 

Table of Contents

Part 1 – Contract Law Case Studies. 3

Question 1. 3

Question 2. 4

Question 3. 5

Question 4. 6

Question 5. 7

Part 2 – Tort law case studies. 10

Question 1. 10

Question 2. 12

Question 3. 13

Question 4. 15

References. 18

 

 

 

 

Part 1 – Contract Law Case Studies

Question 1

In the case of siblings, it happens that written contracts are not even necessary. Dealing with siblings must not be treated differently compared to dealing with the corporate business. Here there is a case of Dave who is living in Sydney and he has contacted his sister who is a sibling of Dave(Torvik, et al., 2022).

And her sister is Keren and she is living in England.  Because a written agreement is needed to ensure that two parties understand the rights and responsibilities, and the property of parents will also be divided equally among children so here also there are two children Dave and her sister Keren, so the property of parents will be distributed among Dave and Sydney (Chazali, 2019).

In this case, the sister and the Dave are falling out. She has resigned from her job and also moved away from her friends, and she also arrived in Sydney when her brother needed him. And then, later on, Dave disinherited her sister and also sold the property, and then the sister sued his brother for doing the same and he said that his brother do the breach of contract (Torvik, et al., 2022).

So, in this case, the brother has to contact her sister and do not do anything wrong, and the Keren has done everything right because if her brother disinherited her sister then she will go to court and she needs the part of the property. So, the Keren has sold her property where she was living earlier in England and she took the decision just because of her brother Dave as he was fallen ill and she has to go to take care of her (Chazali, 2019).

Question 2

Ali’s business went into the liquidation and he has not told anything regarding the financial trouble of the business, and his parents are not well educated and they have no or little knowledge regarding the business of his son. So, he has not told anything regarding the business that what kind of issues he is facing currently, and not able to ensure that his business sounds good. In this case, the parents must hire a lawyer and consult with someone who can provide knowledge that whether they should look into the financial statements of the business before they sign a contract of mortgage because now the parents are in dilemma and they are in trouble that how they should be taken in consideration of their son’s business (Nxumalo, 2019).

So, now the Cheatem Bank is trying to exercise their rights under the guarantee of mortgage and they have sued the parents of Ali because they have signed the contract of mortgage, and their home is at risk when the business is making a loss, and not able to pay loans taken from the bank, then obviously the bank will try to sue Ali’s business and the mortgage is given as the home of Ali’s parents, so the bank will now take the house of his parents, and now his parents are in risk (Poborský, 2015).

So, in this case, now they can consult with a lawyer who will provide them guidance and fight a case for them because Ali’s parents are not well educated and they have little or no knowledge regarding the business of Ali. So the bank can sue Ali’s business and take money from Ali, not from his parents. And the lawyer will try to save the parent’s house because they are innocent. They have little understanding of formal education. Also, the lawyer now can say that Ali has not provided his financial statements which were real because it shows that he is in financial trouble and he does not sound good financially(Poborský, 2015).

Also, it is a mistake of the bank that they have not checked the financial statements of the business before providing a mortgage, so here the bank cannot sue Ali’s parent’s house as they are not well-educated but the bank has proper knowledge so they must verify all the documents earlier and should take in consideration the real documents of the business. Therefore, the business cannot provide wrong information regarding his business documents and provide the right information so that his parents can also be saved and their house as well (Nxumalo, 2019).

Question 3

 

Brade and jane as they operate the pizza business and they have faced a loss because of Angie. According to the current situation of the brad and Jane, they have to make sure to handle this in a better manner.  Angie promise them to deliver their wood-fired oven installed within hours. Therefore they have not been able to get the oven on time and this causes them a loss for this they have to make sure to handle the things. Angie shows her lack of point in the company and her working policy. she did not deliver the oven on time and based on this situation they both have to face the loss in the market. According to this situation and the amount they have faced while late deliveries in the oven and their shop remain shut for 4 days and nights also, this may be causing the huge amount of the loss. They even face a loss of a great deal of money ((Bplans, 2022).

Due to this, they decide to sue Angie for their profit and the loss and this is the right decision for them. They have to take a strict decision regarding this situation and it is because of Angie’s inappropriate behavior. This may cause them a loss and they want to realize Angie for her mistake and her behavior towards her work. According to their decision, the settlement reaches another level as they discuss this matter with Angie. They have to make sure to decide in favor of both parties. Angie will have to pay them 30% of their loss and also, she has to repair the oven free of cost. The charges she takes for them for the repairing is not will be settled (Bplans, 2022).

LAW

According to law and legislation, regulations they have to apply the Fraud act 2006. This is the act that is applied in this situation. They have to make sue her for her deliveries and late deliveries describe the lack point her in the work.

Question 4

 

Gulliver as went to tour and enjoyed it a lot for the 11 days and after that, the situation has become changed. He wants to sue the bus tour company and wants the full amount of his tour cost. But according to the law and the regulations, this is not a valid point for the company as the basis of the half tour cancelation. The reason behind this Gulliver has to face the troubles after the 11 days of the tour and misses his left day’s tour. Due to this situation, he can not sue the bus tour company for the full amount of the refund because he enjoyed the 11 days a lot. Also, those days’ tour was out of the expectation. Due to this, there is no point in using them for the full amount refund. As the organization provides him the 11 days of the tour and there is no sense in paying back the amount of those tour days. After this, the situation becomes uncomfortable for the Gulliver and he has to back from the middle of the tour and this is not an impression (Avvo Inc. 2022). That bus tour company may represent in front of their customers. This may cause a bad image in the organization and reduce the marketing level of the company in the market.

Law

According to the lawsuit filed the case against the bus tour company. The tour company has to pay for the amount of the injuries that Gulliver have during the time of the bus crash.  The reason behind that is the bus company has to pay the bill for all the passenger’s injuries. Therefore Gulliver wants his full amount of the refund from the company which will not be possible because he gets full services for the starting 11 days of the tour. On the other hand, he will take a discount offer for the next trip on the bus tour company (Consumercomplaints, 2022).

Question 5

 

A ) According to the situation of Amelia and Biggles as they both have the law contract between themselves. This may be causing issues for Amelia as she lost her job and would not be able to pay the money that is due on their loan. Amelia want to pay them all amount of the loan money on time but due to the situation as she lost her job. Also, she would not be able to pay the money on time. Biggles advised her to sell her apple notebook to pay the amount of the loan and the amount that is decided for selling it is $900. After this, she has to pay the extra $220 according to the balance demand.

According to the common law position she should not trust Biggles for paying him first $900 and after that $220. The reason behind this is that she has a total amount of $1,000 and after paying $900 there is only $100 left from the loan amount. Based on this their no need to pay $220 to him without signing any kind of agreement and rules also, regulations (Epstein, 2018).

1. B) Equitable defense Amelia may have to action by Biggles. This is not an equitable deal for Amelia and it is because she has the only source to find a new job with the help of this laptop. Therefore if she sells it and pays the full amount of the loan according to the contract then there is no need to pay her any other amount to related the loan. Also, she can focus on finding a new job without her laptop. Amelia is facing an issue in this situation and they have to make sure to defend themselves in this action. She may take the extra time till she will get another job to pay the amount of the loan to Biggles. Also, she has to find a better way to resolve this issue. She may ask the extra time to pay back the amount of the loan and this is the situation that is possible in this case.

Question 6

200. Rosella Ltd is not obliged to sell the plasma television to Tom at the advertised price of $200. Because the advertised price is not considered an offer to enter into a binding contract, it is just simply an invitation to deal with the offer. Also, the price that has been printed wrong is unintentional and it is not printed intentionally or to make harm any person. So, there is no consumer law that Rosella Ltd must honor the advertised price of the product (Kalbfleisch, et al., 2019).

Also, if Rosella Ltd gets a suit against them then they can establish a defense because printing the wrong price in the advertisement for the plasma television was just a mistake for them. Also, the sales assistant has already provided the right information to Tom regarding the price of a product before he has purchased a television. He can say that the price mentioned in the advertisement was a mistake, and the court can allow the retailer and seller to make corrections in the agreement so that the misunderstanding will be ignored (Kirkpatrick, 2020).

1. According to the Section 18 of the Australian Consumer Law, because it is prohibiting the retailers to deceive consumers to buy a product, Rosella Ltd has not broken any law, and the advertisement of the plasma television was just making an appealing offer to Tom and they can follow the store policy before selling a product, and provide the correct terms and conditions of selling the product to the consumer of the plasma television and ensure that no deceive made to any other consumer with the same mistake because it will decrease the customer base of Rosella Ltd because they are misleading their customers by just printing a low price and saying that it was just a mistake for them (Kirkpatrick, 2020).

 

 

 

Part 2 – Tort law case studies

Question 1

1)

a)the tortious act of causation, is applied in the first case, and out of the two this is negligent causation, which means that “but for” the act of omission or negligence of the defendant, the harm would not have been caused to the plaintiff.

1. b) there are no tortious acts or the omissions that are applied in this case, since the employee himself is liable for his injury and however the employer is responsible for the injury caused to an employee at the workplace, this case is not regarding the same, here the injury that has been concerned is that o the employee in the hospital, on which there is no liability of the employer.
2. c) no tortious acts or omissions will be applied in this case of free-falling on the car to police. Since falling of free could be a natural cause, and there are absolutely no linkages that could be established in falling of tree while pursuing the thief by the car. Overall, since there is no duty of care, no breach of duty, there is also no causation present and therefore the thief is not held responsible for the damages caused to the police car by falling free (Deakin & Markesinis, 2019).

 

2)

1. a) yes, in the present case, there is the presence of causation since it was because of the accident caused by the second person only, that the growth of the tumor that was only starting started turning into a malignant tumor. It is the second car’s driver’s fault therefore he is to be held responsible for the accident.
2. b) no, this is not a case of causation since the fracture took place in the hospital, not during the work time, and the fault was of the patient only, therefore the employer is to be not held liable for the injury that was received by the worker in the hospital.

c)no, in this case, causation is not present, because the falling of a tree does not have any link with the thief and it is just a natural cause. There is no such connection betweenthe falling of a tree with theft, trees must have become so old which is why it must have fallen on the car of the police and it has nothing to do with the thief and he must not be held responsible for any damage to the police car (Goldberg et al., 2021).

3)

In the first case, there can be no defense raised by the tortfeasor, since there is the presence of negligence, and causation in the case. There is a duty of care as well as a breach of duty, therefore if the tortfeasor, who is the driver of the second vehicle will raise any defense. It will be rejected and the chances of it being successful are negligible.

In the second as well as a third case, there are 100% chances of the tortfeasor’s raise being a success, in the second case the employer as well as in the third case the thief, both do not have any proven causation or duty of care, for the same reason there is also no breach of duty, hence they cannot be made liable to pay any damages in relation in the following scenarios, thus their defenses for themselves will be successful.

4) the cases that come under tort law, were heard by the district courts, who also determine the civil claim of the amount up to $750000, and have unlimited jurisdiction in any of the cases related to damages claims for personal injuries. Both civil, as well as criminal matters, are dealt within these courts.

Question 2

In the following case jean who is a regular shopper at the east end four corners supermarket, slipped on grapes in the section of pet food and the falling, as well as slipping, caused her to break her ankle. The manager of the store has no idea as to how long the grapes have been there or how did they end up there. In this case study, jean broke her ankle and has been suffering the loss. ‘

The plaintiff, in this case, is – Jean

the defendant here is – a supermarket

as per general tort law, the first element out of the total four is a duty, which is also known as the duty of care. As per the law in the most simple words duty can be referred to as the obligation to either do or not perform something that may cause harm to anyone. the changes in obligations are dependent upon the relationship. As per this duty of care, the supermarket owes a duty of care to any reasonably foreseeable person or anyone present on their premises. Therefore tort law is applied to the supermarket (Rodriguez-Blanco, 2022).

Yes, there is a breach of duty by the supermarket, because once it has been proved that someone owes a duty of care. Another element is a breach, this is when a person or any company has failed in living up to the standard of care that it owes to another. In this case, since the supermarket has the duty of care towards anyone present on its premises and even after having an apt policy, the business failed in providing that care, there has been a breach of duty by the supermarket.

Therefore, Jean has the right against the pursuant of the negligence of the supermarket for her broken ankle. This risk was foreseeable reasonably since the supermarket’s cost of cleaning is fairly low and there has been a breach of duty of care. These damages are the combination of both generals as well as special damages. The general damages are pain and suffering, while special damages include medical bills, loss of income as well as future earnings.

The defendant, in this case, does not have any defenses and as per the law, they are liable to pay the quantum of damages involving the expenses out of pocket, the economic loss for as well as the general damages of pain as well as suffering making a total of $1.3M, as per the discretion of the judge (Pal, 2019).

Question 3

Issue

Has Johnny breached any law in this case?

Law

According to the laws and legislation, a person will not breach his duty to take the protections against the hazards unless:

1. If the risk is not known by the person or the risk was foreseeable. If the person is not known by the uncertainty, then the person can’t able to take precautions to eliminate or mitigate the risk.
2. If the risk is not particular then in this case also a person can’t bale to take the precaution to eliminate or mitigate the risk (Barker, et al., 2012).

As per the legislation and law, the court will decide whether the reasonable person taking precautions against the hazards or not. There are some statements that the court will take into consideration while making the decisions such as –

1. The court needs to be considered the possibility of hazards will happen or occur if appropriate precautions were not taken by the reasonable person.
2. The court needs to be considered the seriousness of the risk or the impacts of the risk.
3. The court must consider the burden of the reasonable person to protect his car from the uncertainty or natural disaster that occurred.

Application

Johnny is the owner of the car garage or the premises and he can’t damage Lan’s car. The car has been damaged due to natural disasters or hail storms. Johnny doesn’t know about the disaster or uncertainty that happen near their premises. According to the laws and legislation, the risk or uncertainty is not particular for anyone so the reasonable person also does not take any precautions to protect his car from the uncertainty. There are some statements that the court and legal entities must take into consideration while deciding on this case such as

1. Johnny does not know the risk or uncertainty that occurs near his premises.
2. The risk of a hail storm is not particularly due to this reason johnny or a reasonable person can’t able to take precautions to protect the car from uncertainty (Barker, et al., 2012).
3. The court also needs to be considered the burden on Lan to protect his car from the uncertainty or natural disaster that occurred near its premises of the Johnny.
4. The court also needs to consider that the car is not parked in the garage of the johnny. It has been parked away from the garage (Luntz, et al., 2017).

Conclusion

According to the eye of the law, Johnny has not breached any law. So, the compensation for the damaged car which is $25000 will be bear by the owner of the car. The reason that the court makes these decisions is that the risk is uncertain and it can happen anytime and anywhere. The seriousness of the risk or hazards is also high due to which Johnny and reasonable can able to take precautions to protect the car from uncertainty or natural disaster. According to the laws, a person can’t able to bear the loss of this type of risk whether he is the owner of the premises or not.

Question 4

Negligence

Negligence is a very important part of tort law. It occurs when the person does a crime due to carelessness or being responsible for the harm caused due to their own mistake. There are four components of the negligence that prove that person is responsible for the compensation or not such as

1. Duty – The first component of negligence explains the duty of care of the person due to which risks occurred. In other words, a person is responsible for giving compensation to another person if he is responsible for the harm. But if a person is not responsible for the harm of another person, then according to the tort law a person does not pay any compensation to another person. This is element is not applied in the given case of Sam and Polly (Luntz, et al., 2017).
2. Breach – Once a plaintiff proves that another person is owned the duty of care of the plaintiff. It means the person is responsible for the pay the compensation against damages or injury to the plaintiff in the eye of law. If the plaintiff fails to prove that another person is owned the duty of care to the plaintiff then in this case person is not responsible for paying the compensation to the plaintiff. This is element is not applied in the given case of Sam and Polly (Lunney, 2017).
3. Causation – Two types of causation are actual causation and proximate causation. Actual causation is the cause that another party directly harm the plaintiff. So, in this case, another party must pay the compensation to the plaintiff. Proximate causation is the cause that another party indirectly harm or without any plan to the plaintiff. So, in this case, another party is not paying any compensation to the plaintiff. The given case comes under the proximate causation. So, Sam does not need to pay any compensation for the injury to Polly.
4. Harm – The given case comes under the case of proximate causation. As we know that in the case of proximate causation another person does not pay any compensation to the plaintiff. Therefore, in the given case Sam is not paying any compensation to Polly in the eye of the law (Lunney, 2017).

Conclusion

Since there is no duty of care arising in this case, the defendant Sam is also not liable to take care of the plaintiff Polly, it is for the same reason that no breach of duty has to arise in this case, since there is no breach there is no causation, hence the defendant is not liable to pay any charges to Polly, she asked for a lift from her free will and was liable for her responsibility, besides Sam was driving as per the rules and regulations within the speed limit, thus he is well within his limits and is not expected to pay anything.

 

 

 

References

Avvo Inc.com (2022)  improper services cases in Australia . (online ). Available at: Vacating a Default Judgment based on Improper Service – Legal Guides – Avvo

Barker, K., Cane, P., Lunney, M., & Trindade, F. (2012). The Law of Torts in Australia. Oxford University Press. https://rune.une.edu.au/web/handle/1959.11/12370

Bplans.com (2022) Bus tour company cases in Australia. {Online}. Available at: Sightseeing Bus Tours Business Plan Template for 2022 — Bplans

Chazali, C., 2019. the Intergenerational Dimensions of Land Transfer Among Smallholder Farm Households in Indonesia. https://thesis.eur.nl/pub/51406/Chazali-Charina_MA_2018_19_SPD.pdf

Consumercomplaints.com (2022) improper services behavior in Australia. (online). Available at: Improper Services | Consumer Complaints Court

Deakin, S. and Markesinis, B., 2019. Markesinis and Deakin’s tort law. Oxford University Press, USA. https://books.google.co.in/books?hl=en&lr=&id=-pCqDwAAQBAJ&oi=fnd&pg=PP1&dq=what+is+tort+law+&ots=vA_dBFsYme&sig=KqshgfwMCEblCGhQDZcjRiuSxkY&redir_esc=y#v=onepage&q=what%20is%20tort%20law&f=false

Epstein, R.A., 2018. A Common Law for the First Amendment. Harv. JL & Pub. Pol’y, 41, p.1. The Myth of Common Law Crimes (unc.edu)

Fitzhugh, W.W., 2017. The Gateways Project 2016: Surveys in Groswater Bay, Labrador, and St. Paul River, Quebec, and Excavations at Hart Chalet. Quebec 2016 Field Report.pdf

Goldberg, J.C., Sebok, A.J., Zipursky, B.C. and Kendrick, M., 2021. Tort law: Responsibilities and redress. Wolters Kluwer. https://books.google.co.in/books?hl=en&lr=&id=U9UeEAAAQBAJ&oi=fnd&pg=PR1&dq=what+is+tort+law+&ots=bHmac6cAOT&sig=gJwVysVWTE3iAI3Hb0wq90MRBJ4&redir_esc=y#v=onepage&q=what%20is%20tort%20law&f=false

Kalbfleisch, P.J. and Docan-Morgan, T., 2019. Defining truthfulness, deception, and related concepts. In The palgrave handbook of deceptive communication (pp. 29-39). Palgrave Macmillan, Cham. https://sci-hub.ee/10.1007/978-3-319-96334-1_2

Kirkpatrick, K., 2020. Deceiving the masses on social media. Communications of the ACM, 63(5), pp.33-35. https://dl.acm.org/doi/pdf/10.1145/3386375?casa_token=keoEfFv4oJIAAAAA:Ds–WC86OiG3EXq23XBWQqLuWOZF-o-sOZfCktcsJ_FhvUklFHTPDF2yc1EHJdZ6WBH6-tQfUw8g

Ling, L., Dong, Y., Guo, X. and Liang, L., 2015. Availability management of hotel rooms under cooperation with online travel agencies. International Journal of Hospitality Management, 50, pp.145-152. Availability management of hotel rooms under cooperation with online travel agencies (researchgate.net)

Lunney, M. (2017). A History of Australian Tort Law 1901-1945. Cambridge University Press. https://books.google.co.in/books?hl=en&lr=&id=LZNADwAAQBAJ&oi=fnd&pg=PR10&dq=tort+law+reform+in+australia&ots=o8x9FnS-MK&sig=uzY504A8wEFmwq6IJWqO_0v6fFc&redir_esc=y#v=onepage&q=tort%20law%20reform%20in%20australia&f=false

Luntz, H., Hambly, D., Burns, K., Dietrich, J., Foster, N., Harder, S., & Grant, G. (2017). Torts: cases and commentary. LexisNexis Butterworths. https://research.bond.edu.au/en/publications/torts-cases-and-commentary-2

Nxumalo, M.M., 2019. Business rescue: a delay tactic for liquidation? (Doctoral dissertation). https://ukzn-dspace.ukzn.ac.za/bitstream/handle/10413/18448/Nxumalo_Misiwe_Mpilenhle_2019.pdf?sequence=1&isAllowed=y

Pal, M., 2019. Economic Analysis of Tort Law: The Negligence Determination. Taylor & Francis. https://books.google.co.in/books?hl=en&lr=&id=y6KsDwAAQBAJ&oi=fnd&pg=PT10&dq=tort+law+negligence&ots=KZn31aE_ou&sig=Prd1-Xuvz9v0ld8eIoRuKZYyXxs&redir_esc=y#v=onepage&q=tort%20law%20negligence&f=false

Poborský, F., 2015. Fundamentals of the Liquidation Method of Business Valuation. Procedia Economics and Finance, 25, pp.386-393.https://doi.org/10.1016/S2212-5671(15)00749-2

Rodriguez-Blanco, V., 2022. The Law of Negligence, Blameworthy Action, and the Relationality Thesis: A Dilemma for Goldberg and Zipursky’s Civil Recourse Theory of Tort Law. Law and Philosophy, 41(1), pp.63-82. https://link.springer.com/article/10.1007/s10982-021-09430-w

Torvik, F.A., Eilertsen, E.M., Hannigan, L.J., Cheesman, R., Howe, L.J., Magnus, P., Reichborn-Kjennerud, T., Andreassen, O.A., Njølstad, P.R., Havdahl, A. and Ystrom, E., 2022. Modeling assortative mating and genetic similarities between partners, siblings, and in-laws. Nature communications, 13(1), pp.1-10.https://www.nature.com/articles/s41467-022-28774-y

BSBCMM511 Communicate with Influence

Candidate Instructions
Purpose of this Assessment task
The purpose of this assessment is to test your knowledge in communicating with influences required by the unit BSBCMM511 Communicate with influence. Your trainer/assessor will be assessing your work and providing you with constructive feedback on Canvas. This task will assess your knowledge to: ·         Identify communication requirements ·         Negotiate to achieve agreed outcome ·         Participate in and lead meetings ·         Make presentations   By successfully completing this assessment you will demonstrate that you have comprehensive knowledge and understanding required to communicate with influence.   Structure of this assessment There are seven questions in this assessment. They are different in their designs and requirements. Some can be answered in dotted points, some need short answers, while others may require a little bit of description. Your responses or answers to the questions must be precise and clear. This means you must understand the questions correctly before you attempt to answer them. You must answer all questions by yourself unassisted by another person. But you may refer to the needed reference material if you need to. Your trainer/assessor will set a date and time to submit your response to this assessment and you must submit by that date and time.   Resource to undertake this assessment Before undertaking this assessment, you should have studied relevant learning resources and Bounce fitness documents provided on Canvas and by your trainer/assessor. You should have a good understanding of the applicable legislations such as relating to privacy and confidentiality, antidiscrimination etc. You will also require pen and paper and access to computer with internet to do this assessment.   What specific WHS requirements may be involved? This assessment will require you to be aware of the standard Workplace Health and Safety requirements e.g. Workplace Health and Safety Act and Workplace Health and Safety Legislation Your trainer/assessor will advise you on these and other legislative requirements.   Reasonable adjustment If you have any literacy and numeracy issue/s in undertaking this assessment talk to your trainer/assessor, they should be able to help. Also, please talk to your trainer/assessor if you have any difficulty in understanding this assessment or if you have any special needs.     How to do this assessment? 1. Read the given questions couple of times to fully understand what is expected from you. 2. Answer all parts of the question completely and correctly 3. Write your answers eligibly in blue or black pen or word process your answers 4. Use the provided template to answer. 5. Once you complete your answers carefully read them and check for their completeness and accuracy 6. Keep a copy of your completed work to make-up for any unforeseen loss or damage 7. If you use additional paper to answer put your name and student ID in it. 8. Note that this assessment requires you to undertake some web research. Your trainer/assessor will provide you a list of relevant websites and digital materials you must read through.     Getting Started The assessment may be re-attempted on two further occasions (maximum three attempts in total). All assessments must be resubmitted 3 days within receiving your unsatisfactory grade. You must clearly indicate “Re-submission” on your resubmitted work.   All questions must be answered satisfactorily for the assessment to be completed satisfactorily. For any assessment conducted that is incomplete, or without satisfactory performance, the assessment will need to be completed again after further training support. This may be simply to focus on question areas not achieved in the prior assessment.   Submitting your assessment When you are ready to submit your assessments, upload the files in Canvas via the submission tab.   Word count In this assessment some of the questions include a word count. This is a guideline only, but your answers should not vary substantially (i.e. +/- 10%) from the word count provided. Microsoft Word includes a word count tool.
Objective	To test the required knowledge ofcommunicating with influence.

 

Assessment Cover Sheet
Candidate name:
Trainer’s Name:
Date Submitted:
Candidate declaration:	I declare that: ·         I have read and understood all the information provided in relation to the assessment requirements to complete this unit, the instructions and the purpose and processes of undertaking this assessment task ·         This assessment is my own work and where other’s works or ideas have been borrowed, I have appropriately referenced or acknowledged them ·         I understand that plagiarism is a serious offence that may lead to disciplinary action.
Candidate signature:

 

Task 1: Knowledge Questions

Question 1	Explain  what  industry,  media  and  government  organisations,  events  and communication channels are relevant to the organisation.
Answer: An organization directly utilizes different methods for productive outcomes and maximizing profits. Media and organizations come forward and work parallelly to provide branding opportunities and they work simultaneously to build the organization’s profile. Government organization directly attempts to structure the business practice by implementing different use and regulations. Communication channels are the mode to align the employees for the business goals, better communication channels are required forthe strong interaction between the firm and employees and within the workforce. Administration activity in an organization is processed by the communication channel, it directly connects leadership to the firm’s performance (Ting-Toomey, & Dorjee, 2018).
Question 2	What are the major principles of cross-cultural communication?
Answer: 1. Preparation: Prepare the people of different backgrounds for their culture and etiquette. 2. Language: Different geographical regions have different languages so to avoid misunderstandings usean interpreter who not only knows multi-language but knows culture too. 3.Awareness: We should aware that different regions have different cultures. It takes time to get the nature of culture(Ting-Toomey, & Dorjee, 2018). 4.Centre the similarities: Similarities in the workplace, family backgrounds, and leisure. Focus on understanding, not being judgemental, and not expressing the disagreements immediately.
Question 3	Explain the  principles  of  negotiation,  mediation,  conflict  resolution  and incident de-escalation.
Answer: 1.Negotiation deals with agreements of parties involved in the conflicts. This is done by some principles which are focused on needs and not on positions, making agreements simpler, being soft on people not on the problem (Kumar & Antony,2018).   2. Mediation has some principles which are diligence, confidentiality, independence of mediator, legality, and principle of procedural economy.   3.The important principles of conflict resolution are listening actively, attacking the process, accepting the responsibilities, looking for interest, to be focused on the future.   4. Principles of de-escalation are concise, speaking short, easier sentences, not responding in anger, by respecting the personal space of the individual.
Question 4	Describe structured and inclusive meeting procedures.
Answer: Structured meeting procedure involves punctuality of timing, appraisal of agenda, favorable outcomes conducted according to schedule, and concluding the meeting with a summary. While inclusive meeting involves asking participants about needs, keeping participants updated, and checking everyone’s technical work. An inclusive meeting also involves basic ground rules and not allowing one person to dominate. Taking feedback from the participants and sending out a summary.
Question 5		Describe an organisation’s policies and procedures relevant to: ·         presenting and negotiating ·         leading and participating in meetings ·         making presentations
Answer: 1. For presenting and negotiating: Organization’s policy is for dealing with conflict negotiation and presenting is ambiguous jurisdiction thatis independent but has certain boundaries which are specified in the workplace.   2. For leading and participating: The host and participants in the meetings have proper follow-ups, listen up, a collaboration between employees, and punctuality by bringing every participant into the conversation(Kumar & Antony, 2018).   3. Making a presentation: In the presentation, clarity in intents and ideas is necessary to allow all the participants to involve actively. Introduction, main content, and conclusions are basic policies of the firm to provide actual information about the meeting.
Question 6		Explain the impact of your communication tone, structure, and styling the workplace.
Answer: 1. Impact of communication tone: Communication impacts the workplace as using words to communicate makes the tone harder(negative tone) for others to convey your information.   2. Impact of communication style: The way you respond directs to the style of your communication and makes it harsh. Hence using positive and structured sentences to communicate is a formal way to communicate. The combination of tone and style deals with the attitude you have, strive for organization, and making sentences more affirmative or neutral is always obedient.   3. Impact of communication structure: Structured communication provides us with a framework that enforces our proposal of conveying a message. Word choice is the structure of communication hence using precise, simple, and concise (Hamamreh, et al., 2018).
Question 7		Explain the requirements to maintain confidentiality in the workplace.
Answer: Confidentiality in the workplace is necessary as the personal information of the employees should not be disclosed to others. Managerial information includes broad relations between managers or heads the individuals. Another one is organizational information or trade secrets should be confidential for the productivity of the firm. A strong confidential policy of an organization leads to more protected business. Contact information related to customers, and much more professional information should be confidential which are information related to information, lawyers, and accounts about individuals or firms (Hamamreh, et al., 2018).

 

References

 

Hamamreh, J. M., Furqan, H. M., & Arslan, H. (2018). Classifications and applications of physical layer security techniques for confidentiality: A comprehensive survey. IEEE Communications Surveys & Tutorials, 21(2), 1773-1828.

 

Kumar, D., & Antony, S. D. P. (2018). Calcified canal and negotiation-A review. Research Journal of Pharmacy and Technology, 11(8), 3727-3730.

 

Ting-Toomey, S., & Dorjee, T. (2018). Communicating across cultures. Guilford Publications.

 

 

BSBSTR602 Develop Organisational Strategies

 

 

 

Assessment 2 Project Portfolio

Student Name: GOUTHAM ARALA

Contents

Instructions to the students: 3

Right of appeal 5

Student assessment agreement 6

Student declaration  7

Assessment for this unit 8

Unit Description  8

Assessment Task 2: Project 9

Assessment Task 2: Checklist 14

Section 1: Prepare to develop a strategic organisational plan  17

Section 2: Develop a strategic organisational plan  19

Section 3: Monitor the strategic organisational plan  24

Final results record  25

Instructions to the students:

You are required to:

 

¡  Complete this page and ensure you accept, sign and date the student declaration on the Student Learning Management System (LMS). ¡  Read through and follow all instructions provided. ¡  Answer all the questions.  Keep in mind you are studying a Nationally Recognised Diploma level unit of competency ¡  Your answers must reflect the depth of knowledge and understanding expected of a person who can work under minimal supervision and competency requires a high level of judgement and decision making.  This assessment is to be conducted in a supervised classroom environment. ¡  You must complete your own work without assistance from other persons ¡  Your assessor will predetermine the timeframe for the assessment ¡  Submit your assessment to the Student Learning Management System (LMS) by the due date. Ensure your submission identifies your name, unit code and title.

PLAGIARISM AND COLLUSION:

Plagiarism is ‘a practice that involves the using of another person’s intellectual output and presenting it as one’s own’. This includes the presentation of work that has been copied, in whole or part, from other sources (including other students’ work, published books or periodicals, the Internet, unpublished works or unauthorised collaboration with other persons), without due acknowledgement.

CONSEQUENCES OF PLAGIARISM AND COLLUSION:

A student found to have plagiarised material will be instantly graded Not Yet Competent (NYC) and may be subject to one or all of the following: ¡ Referral of the matter to the Academic Coordinator for: an intervention meeting, issuing of written warning, clarification regarding assessment re-submission requirements and allocation of additional assessment tasks. ¡ Referral of the matter to the Director for: official disciplinary action by Choice Business College and/or suspension from the course.

 

Your assessor will provide you with an appropriate timeframe in which to resubmit your work, according to your RTO’s reassessment policy and procedure.

ASSESSMENT RULES		ASSESSMENT SUMMARY		UNIT OUTCOME
¡ For a student’s performance to be deemed satisfactory for the whole unit of competence, they must demonstrate satisfactory performance in all tasks within this assessment. ¡  If part of a task is not satisfactorily completed the assessor will arrange for the student to complete further assessment to demonstrate competence. ¡ Students are permitted three (3) attempts to demonstrate competency. ¡ Overall student performance in the unit is to be recorded as either Competent or Not Yet Competent.		¡ This assessment task contains a series of problem-solving questions designed to allow students to demonstrate competence in the unit. ¡ It contains a variety of questions and practical activities to best demonstrate the student’s skills and Knowledge of the subject ¡ Performance outcome will be indicated as Satisfactory or Unsatisfactory.		¡ At the successful completion of all assessment tasks, a Competent result will be awarded. ¡ The overall unit result and feedback are recorded on the unit result summary on LMS.

 

Right of appeal

 

You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal.

You should refer to your RTO’s assessment appeals process for more information.

 

 

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?		ü  Yes	¨  No
Do you understand the requirements of the assessments for this unit?		ü  Yes	¨  No
Do you agree to the way in which you are being assessed		ü  Yes	¨  No
Do you have any specific needs that should be considered		¨  Yes	ü  No
If so, explain these in the space below.
Do you understand your rights to reassessment?		ü  Yes	¨  No
Do you understand your right to appeal the decisions made in an assessment?		ü  Yes	¨  No
Student name	Goutham Arala
Student ID number	CBC210230
Student signature	GA
Date	12/04/2022
Assessor name
Assessor signature
Date

 

 

 

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	Goutham Arala
Student ID number	CBC210230
Student signature	GA
Date	12/04/2022

 

 

 

Student name:	Goutham Arala
Assessor:	Redwan
Date:	12/04/2022
Business this assessment is based on:	Healthcare Incorporation

 

Assessment for this unit

 

Unit Description

This unit 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.

The unit applies to individuals working in senior roles in the organisation who have responsibility for ensuring that the organisation is positioned to ensure its long-term viability and success.

 

 

 

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).

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.

 

i

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:

1. 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 are able to access enough information for your chosen business in order to be able to do your assessment. As a minimum this should include: ·           numerical information to analyse trends and perform a cost-benefit analysis ·           information to monitor and evaluate your implemented plan.
	You will need to communicate with internal and external stakeholders. Your communication may be either directly with actual staff members or fellow students/your assessor can play the roles of relevant people/parties. Communication can be in any appropriate format (e.g., face to face, video conference, email) as long as it meets the requirements outlined in the Project Portfolio. You will be collecting evidence for this unit in a Project Portfolio. The steps you need to take are outlined below.

2. 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 of 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.

3. Prepare to develop a strategic organisational plan

Complete Section 1 of your Project Portfolio. To do this, you need to: ·           identify stakeholders who will contribute to the strategic planning process. ·           identify and summarise organisational, legislative, regulatory and codes of practice requirements. ·           research your organisation’s external environment, including the use 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.

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.

4. Develop a strategic organisational plan

	Complete Section 2 of your Project Portfolio. To do this, you need to:
	·           Meet with all relevant stakeholders to discuss: o      any required changes to the vision/mission/values of your 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.
i	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 team members. This can either be viewed in person by your assessor 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.   As part of this meeting, you are required to demonstrate your ability to: ·           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. You will be assessed on this.
	If you are using the case study, additional information to complete the remainder of this step is contained in the Simulation Pack. If you are using your own organisation, make sure you have the enough information to fulfil the requirements in the Project Portfolio.
	Continue working on Section 2 of your Project Portfolio to: ·           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.
	·           distribute and communicate your strategic plan to all relevant stakeholders to brief all parties and seek feedback/endorsement.
i	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).
	Continue working on Section 2 of your Project Portfolio to: ·           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 competitor) to confirm the establishment of the joint venture.
i	Communication can take place in any appropriate format as long as it adheres to organisational requirements (e.g. draft email to the CEO).
	Continue working on Section 2 of your Project Portfolio to: ·           develop a risk management plan.

5. Monitor the strategic organisational plan

i	Assume that a period of time has passed. If you are using the case study, additional information to complete this step is contained in the Simulation Pack. If you are using your own organisation, make sure you have the enough information to fulfil the requirements in the Project Portfolio.
	Complete Section 3 of your Project Portfolio. To do this, you need to: ·           monitor the implementation of the strategic plan using performance indicators. ·           make refinements to the strategic plan.
	·           evaluate the achievement of objectives at the agreed-on milestone with relevant stakeholders (e.g. via email, team meeting or survey).
i	Communication can take place in any appropriate format as long as it adheres to organisational requirements (e.g. video of executive team meeting, survey, email).
	Continue working on Section 3 of your Project Portfolio to: ·           review the effectiveness of your strategic plan and the strategic planning process. ·           seek advice from an appropriate expert to improve the strategic planning process. ·           identify a method to use in future to improve the strategic planning process.

6. 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.

 

 

Section 1: Prepare to develop a strategic organisational plan

1           Describe the organisation you are basing this project on.

1.1      What is the name of the organisation?

1.2      What are the main activities of the organisation?

1.3      Describe the organisation’s strategic direction and objectives.

1.4      Identify at least two stakeholders who will contribute to the strategic planning process (at least one internal and one external stakeholder).

1.5      Explain how the stakeholders are involved in the strategic planning process.

 

2           Identify and summarise organisational, legislative and regulatory requirements for developing a strategic plan.

2.1      Do any policies, procedures or other organisational documentation exist that provide information about the organisation’s strategic plan?

2.1.1.     If yes, what is the name of the policy, procedure or document?

2.1.2.     If yes, what are the strategic plan development requirements outlined in the documentation?

2.2      Does the organisation have any templates available for the development of a strategic plan?

2.3      Summarise any legislation that applies to developing the organisation’s strategic plan. Make sure you include Intellectual Property requirements as you answer.

2.4      Summarise any regulations that apply to developing the organisation’s strategic plan. Make sure you include Intellectual Property requirements as you answer.

2.5      Summarise any codes of practice that apply to developing the organisation’s strategic plan. Make sure you include Intellectual Property requirements as you answer

Note: Attach proof of policies, procedures, templates etc to this section of your portfolio.

 

3           Research your organisation’s external environment.

3.1      Do research using at least three sources of information on the market and emerging markets, competitors, target customers, political, economic, social and technological environment in which your organisation operates.

Note: Make sure you research includes numerical information.

3.2      Use and represent the numerical information in an appropriate way (e.g. graph) to identify trends and development in the industry.

Summarise and document your research.

Note: You will include documented background information in your strategic plan later on in this assessment.

 

4           Do PEST analysis to analyse the political, economic, social and technological environment in which your organisation operates.

Tip: Use your research from the previous question as you answer this question.

 

5           Identify and summarise best practice examples.

5.1      Do research to identify at least one other organisation similar to your organisation known for leading best practices.

5.2      Compare their vision, mission and value statements to those of your organisation (How are they the same? How are they different?).

5.3      Identify at least one way your organisation’s values do not fully support the vision and mission statement.

 

6           Use an appropriate tool or method to do a capability assessment of at least one competitor organisation.

 

7           Understand your organisation’s internal environment. Do SWOT analysis to analyse your organisation’s strengths, weaknesses, opportunities and threats.

 

Attach:

Proof of policies, procedures, templates etc.

☒

 

 

 

Section 2: Develop a strategic organisational plan

• Summarise your meeting with the relevant stakeholder(s).

1.1      Who did you meet with?

1.2      What changes are required to the vision, mission and values of your organisation?

1.3      Will all relevant stakeholders support the strategic planning process?

1.4      At what milestone will stakeholder evaluate the achievement of objectives (e.g. after one year)?

1.5      Summarise any feedback on your analysis of the internal and external environments.

1.6      How did you respond to the feedback (e.g. verbally at the meeting, replying to documented comments using review functionality, follow-up email etc.)?

 

2           Develop (or revise) organisational values to support the vision and mission of your organisation.

Tip: Make sure you include any stakeholder input (from your meeting) in the revised vision and mission.

 

3           Complete the table below to develop at least two objectives/strategies relevant for the future of your organisation.

Note: If your organisation requires more than two strategies to be developed, attach the relevant information to this section of your portfolio.

	Strategy 1	Strategy 2
Objective
Description of strategy
Responsible stakeholders
Priority high, medium, low)
Timeframe
Specific actions or initiatives required
Measurable performance indicators
Risks

 

4           Represent the work you’ve done so far in a strategic organisational plan. Make sure your plan includes:

4.1      Executive summary

4.2      Vision

4.3      Mission

4.4      Values

4.5      PEST and SWOT analysis

4.6      Strategic objectives

4.7      Strategies and actions (including stakeholders, priority, timeframes, actions and responsibilities).

Note: If your organisation uses a specific strategic organisational plan template, use that template and attach the completed strategic organisational plan to this section of your portfolio.

 

5           Communicate and distribute your strategic plan to all relevant stakeholders to:

5.1      Brief all relevant parties

5.2      Seek feedback and endorsement.

Note: You may use any appropriate method to communicate and distribute the strategic plan as long as it adheres to organisational policy and procedures and you seek feedback and endorsement in your communication.

If not already viewed in person by your assessor, attach proof of your communication/distribution to this section of the portfolio (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).

 

6           Establish at least one cooperative venture considering the organisational vision, mission and values by:

6.1      Completing the table below.

6.2      Communicating with an external stakeholder to establish the joint venture.

Note: Attach proof of how you’ve established the venture to this section of your portfolio (e.g. draft email to CEO of the other party involved with the cooperative venture confirming the details of the venture).

Venture:
Description of venture
Risks
Cost benefit analysis (use and represent numerical information)
Provide for due diligence (where required) Note: Due diligence is the steps taken to avoid committing an offence.
How the venture considers your organisation’s vision, mission and values.

 

7           Use the table below to 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).

Note: If your organisation uses a specific template for risk management planning, use that template and attach the completed risk management plan to this section of your portfolio.

Risk	Consequence	Severity/damage (scale of 1 – 4)	Likelihood (scale of 1 – 4)	Risk rating (severity x likelihood)	Control actions	Resource requirements	Reporting and monitoring

 

 

Attach:	Proof of meeting with stakeholders (if required)	☐
	Response to feedback (if not done at the meeting)	☐
	Strategic organisational plan	☐
	Proof of communication/distribution of strategic plan	☐
	Proof of how cooperative venture has been established	☐
	Risk management plan (if applicable)	☐

 

 

 

Section 3: Monitor the strategic organisational plan

• Use the performance indicators and timeframes established in Section 2 of your project portfolio to monitor the implementation of your strategic plan.

1.1      How is the team progressing with implementing the strategic plan?

1.2      Are the actions outlined in the strategic plan being implemented as planned?

1.3      Make refinements to your strategic plan.

Attach proof to this section of your project portfolio.

1.4      Evaluate the achievement of objectives at the agreed-on milestone (e.g. after one year as established in Section 2 of your Project Portfolio) with relevant stakeholders (e.g. via email, team meeting or survey).

If not already viewed in person by your assessor, attach proof (e.g. video of executive team meeting) to this section of your project portfolio.

 

2           Review the effectiveness of your strategic plan and the strategic planning process.

2.1      How effective was your strategic plan?

2.2      Seek advice from an appropriate expert for at least one method that can be used in future to improve the strategic planning process.

2.3      Name at least one method that can be used in future to improve the strategic planning process.

Attach proof of how you sought advice (e.g. draft email)

 

Attach:	Proof of refined strategic plan	☐
	Proof of stakeholder evaluation of plan	☐
	Proof of advice sought	☐

 

Section 1 – prepare to develop a strategic organizational plan

• The name of the organization is healthcare incorporation.
• Identification of legislative, organizational as well as regulatory requirements
  • No, since the organization is new there are no policies of the procedure or any other organization documentation providing information regarding the strategic plan of the organization.
  • Yes, there are templates available for strategic plan development.
  • The copyright act 1968 protects all the original in Australia, they have a well developed legal system that helps protect all the intellectual property of individuals as well as businesses to the registration of that marketing tool as a trademark, it provides legal protection and prevents others from using it (Kanyamuna, & Phiri, 2019).

The other legislative or regulatory requirement includes that all the devices including the face mask and gloves need to be regulated by TGA as medical devices under the therapeutic goods act 1989, and before their supply, they need to be included in ARTG.

• Therapeutic goods regulation 2002 and therapeutic goods regulation 1990 under two regulations under which the company works.
• Assessment of pre-market, monitoring post-market, standards enforcement, licensing of the manufacturers of Australia as well as verification of oversear compliance of manufacturers with same standards like that of the Australian counterparts.

• research on the external environment of the organization

3.1 Three external sources of information are the government and commercial services. The emerging market for the product of the company is huge, especially after the outbreak of covid, people are more careful and health-conscious and the use of therapeutic goods has increased.

The target customers of the company are hospitals or other sensitive areas, and the other target customer is the normal people who are aware and conscious of their health. The government is promoting the use of this equipment, therefore the political environment is suitable. The economic environment is tense however the demand for these goods is ever increasing. There are various competitors of the same good in the industry and many are emerging but the competitive advantage of our company is that we provide the best quality at the lowest price possible (Hayes, et al., 2022).

3.2

 

4 PEST analysis

Political- The industry in which the company operates is highly regulated however the laws and regulations do not change very much and remain very much stable as far as the. products meet the quality expectations. However, as already shown the approvals have been increasing, so the companies are appreciated in making these equipments.

Environmental-  The environment in which the company operates is highly competitive however the company has the competitive advantage of its price through which it can sustain itself. Since already seen, the government has relaxed the approval scheme.

Social- After the outbreak of covid-19, people are very much health conscious and use therapeutic goods more than ever.

Technological- Technology does not change frequently. However, it does possess some kind of threat to companies.

5 identification and summarizing the best practice examples –

Bpromo, Is a big competitor for an organization since it is operating for more than 20 years now and it has an extensive collection.

However, the vision of the company is much different from ours, more engaged in the extensive collection through collaboration with artists and is more engagement collection however the vision of our company is to provide the customers with the best quality and affordable equipment (Bhawra, 2019).

The company is different because the target market of the company is very different from ours. One way in which our organization’s values do not support its mission and vision is, that its main motive is not for the healthcare benefits of the people, but also includes arts in it.

6 Competitor analysis is the tool that is used for understanding the behavior and business of the competitor, it is the process of researching different marketing strategies of the competitor and identification in the industry, information is then used to compare with the own organization (Lee, 2021).

7  SWOT Analysis

Strength – The strength of the organization is producing the best quality of goods at the most affordable prices for its customers.

Section 2 Develop a strategic organizational plan

 

Question 7

7.1 CEO of the healthcare incorporation organization

7.2 the company has to improve the working policy and the changes require in the product of the company because they have to give 1005 surety to the people who use their products (LEYVA, et al., 2018).

7.3 yes

7.4 according to the current working policy and the report of the organization the stakeholders have to make evaluate the achievement of the objective after the 6 months of the plan implementation.

7.5 internal analysis of the feedback from the employees who complain about the proper management of the organization. Also, according to the external analysis of the organization, they have to make a better marketing plan to hold the company position.

7.6 the response to the feedback will be given to the team members and the stakeholders of the organization verbally by organizing the meeting (LEYVA, et al., 2018).

Question 8

Revised vision and mission

Vision They have to apply the products on the dummies before realize into the market. They have to give 100% surety in the situation of the covid-19 virus people trust in their brand. The CEO of the marketing department also permits changing the quality of the sanitizers.

Mission They have to reach the development level in the market. This is the best option for the development of the organization. Its mission is to sell the 45 lakh products in the first 6 months of the company.

Question 9

	Strategy 1	Strategy 2
Objective	Development of the products demands in the market.	Increase company sales.
Description of strategy	Implement a better working policy.	They have to improve product quality
Responsible stakeholders	Marketing CEO	Sales department CEO and manager
Priority high, medium, low)	High	High
Timeframe	Week 1	Week 2
Specific actions or initiatives required	They have to make the proper plan by taking the advice of the expert and the CEO of the organization to get a better result.	They have to do the testing of their products before sending them into the market and they have to consider their products as the best materials usable.
Measurable performance indicators	This can be indicated after the performance of the company in the market from starting 6 months of the organization.	They have to make sure to take all the feedback from the customer seriously to get better and more innovative results in the organizational development of the company (Rowthorn, 2020).
Risks

Question 11

11.1 the stakeholder. Finance manager, marketing manager, and management team of the company as the relevant parties.

11.2 the feedback on the company working policy will seek from the staff member of the organization while communicating and organizing the meeting with the company stakeholders and the other staff members to find out the best and the better opportunity in the organization.

Question 12

Venture:

 

Question 13

Risk	Consequence	Severity/damage (scale of 1 – 4)	Likelihood (scale of 1 – 4)	Risk rating (severity x likelihood)	Control actions	Resource requirements	Reporting and monitoring
Product fail	Image down	4	4	High	Testing	Product manufacture team	Management manager
Low sale	Market value low	4	4	High	Examine market	Sales department data	Marketing manager

 

Section 3 – monitoring the strategic organizational plan

13.1 The team has put in the best efforts and implementation of the strategic plan and is progressing as expected.

 

13.3 The development of the strategic plan was done excellently, and the strategic plan developed that was attaining 45 lacks sales in 6 months is also attenable however if the selling method will be improved the company can sell more products, therefore the selling methods of the company are to be changed for attaining more growth (He, & Oxendine, 2019).

 

13.4 good morning to all the investors this meeting is conducted for the evaluation of set milestone

To evaluate the achievement of objectives everything will be compared as per 3 months since the development of the strategic plan and a milestone was set at 6 months but it has only been 3 months till then, it can be said that the company will be successful or can even do better in 6 months since it has already attended half the sales of the set sales, and from now on the ways of making sales will also be changed, it will make even a greater and enhanced impact on the future growth of the company.

14 reviewing the effectiveness of the strategic plan

14.1 the strategic plan was fully effective

14.2 Strategic planning consultant was sought for taking advice and he suggested that in the future the company should also take into account the potential factors that could affect the strategic plan (Pour, et al., 2018).

14.3 team meeting

Good morning everybody,

As per the plan that has been established in section 2 and implemented, and monitoired in section two, it has been observed that In future the starting the development of any strategic should be strated with with identification of issues.since it is very helpful.

 

 

References

Achinas, S., Horjus, J., Achinas, V., & Euverink, G. J. W. (2019). A PESTLE analysis of biofuels energy industry in Europe. Sustainability, 11(21), 5981.

Araújo, C., Almeida, M., Bragança, L., & Barbosa, J. A. (2016). Cost–benefit analysis method for building solutions. Applied energy, 173, 124-133.

Benzaghta, M. A., Elwalda, A., Mousa, M. M., Erkan, I., & Rahman, M. (2021). SWOT analysis applications: An integrative literature review. Journal of Global Business Insights, 6(1), 55-73.

Bhawra, J. (2019). Developing Monitoring and Evaluation Frameworks, by Anne Markiewicz and Ian Patrick. Canadian Journal of Program Evaluation, 34(1).

Fischhoff, B. (2015). The realities of risk-cost-benefit analysis. Science, 350(6260), aaa6516.

GURL, E. (2017). SWOT analysis: A theoretical review.

Hayes, J. L., Holiday, S., & Park, H. (2022). Corporate social responsibility & the advertising strategic planning process: a literature review & research agenda. International Journal of Advertising, 1-23.

He, Y., & Oxendine, S. D. (2019). Leading positive change in higher education through appreciative inquiry: A phenomenological exploration of the strategic planning process. Journal of Higher Education Policy and Management, 41(2), 219-232.

Kanyamuna, V., & Phiri, M. (2019). Who said monitoring and evaluation are not rooted in firm theoretical foundations? A review of relevant literature. International Journal of Humanities, Art and Social Studies, 1(4), 1-22.

Lee, Y. (2021). Extraction of competitive factors in a competitor analysis using an explainable neural network. Neural Processing Letters, 53(3), 1979-1994.

LEYVA, M., HECHAVARRIA, J., BATISTA, N., ALARCON, J. A., & GOMEZ, O. (2018). A framework for PEST analysis based on fuzzy decision maps. Revista espacios, 39(16).

Pour, M. J., Zadeh, Z. K., & Zadeh, N. A. (2018). Designing an integrated methodology for knowledge management strategic planning: The roadmap toward strategic alignment. VINE Journal of Information and Knowledge Management Systems.

Rowthorn, R., & Maciejowski, J. (2020). A cost-benefit analysis of the COVID-19 disease. Oxford Review of Economic Policy, 36(Supplement_1), S38-S55.

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Assessment Task 2: Checklist

Student’s name: Goutham Arala
Did the student:		Completed successfully?			Comments
		Yes	No
Prepare to develop a strategic organisational plan by: ·           identifying internal and external stakeholders ·           summarising 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 ·           create a strategic operational plan ·           distributing and communicating their strategic plan to all relevant stakeholders to: o     brief all parties o     seek feedback/endorsement ·           establishing and communicating one cooperative venture: o     considering the organisational vision/mission/values o     risks o     cost-benefit analysis o     due diligence ·           develop a risk management plan.
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.
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.
Task outcome:	¨  Satisfactory			¨  Not satisfactory
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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

 

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