Business development plan for Brookdale Centre

| April 22, 2015

Order Details;

 

 

Writing a Business Development Plan

 

Strategic Management

TL3050

 

Contents

Part A– Assignment/ Submission Details. 2

Submission Information. 2

What is the purpose of this report?. 3

Part B – Why Write a Business Development Plan?. 4

Part C – Report Structure Overview.. 5

Cover Sheet 5

Executive Summary. 5

Table of Contents. 5

Introduction – Overview of the current situation and objectives. 5

Moving Forward –Detailed Plan and Implementation. 6

Expansion. 6

Cost reduction. 6

Asset Reduction–. 6

Revenue Generating –. 7

Turnaround –. 7

Product Strategies. 7

Pricing Strategies. 7

Promotional Strategies. 7

Competition. 7

HRM – Management and Operations. 7

Conclusions. 8

References. 8

Appendix. 9

References. 9

Appendix A – Checklist of a business development plan. 10

Appendix B – Potential Pitfalls (Ten Ways to Ruin Your Business Development Plan) 11

Appendix C – Grading Sheet 0

Appendix D – Typical Report Layout 0

Appendix E – Strategy Framework. 0

 

 

Part A– Assignment/ Submission Details

 

Accounts for 60% of your final grade!!

The most important requirement is to answer the question!

 

“You are asked to provide the Brookdale Centre’s management team with a business development plan in which you present strategic options for the Centre’s future development along with clear advice on implementation aspects of such strategies.  Your plan should make use of relevant models and should be supported by reference to appropriate underpinning literature”.

 

Be sure to read your assignment question very carefully. Ensure your writing demonstrates clarity and logic and you should think constantly about your readers and make your report easy for them to read. To achieve good readability, you should:

 

  • use effective headings and subheadings
  • structure your paragraphs well
  • write clear sentences with plain language
  • keep your writing professional
  • use white space and well-chosen fonts
  • number your pages
  • use tables, figures, and appendices appropriately.
  • Produce a report of 2400 words (a maximum of 2640, a 10% leeway), with the exact number stated at the end. If the work is over the word limit, the tutor will mark the full report then penalise by deducting 10 percentage points from the final mark awarded down to a minimum of 40%. Quotations in the text will count towards the word total; they should not be excessive.
  • To be submitted electronically as a ‘Word’ document via the ‘ASSIGNMENT 2’ link within the TL3050 Blackboard area by 9.00am on 28th April 2015.
  • Blackboard records the time of your submission. If your assignment is not submitted on time, it will be marked as a late submission.
  • Your assignment title should be your name (e.g.”Joe Bloggs.doc”). The first page of your submission must consist of a Student Submission Form, with student, course and module details completed. The Student Submission Form is available in the ‘Assignment Submission’ folder in the TL3050 Blackboard area and you must copy and paste this into the start of your word document.
  • For further information regarding submission of coursework refer to your Course Handbook.
  • Requests for Extensions and Mitigating Circumstances are applied as per the Course Handbook.

Submission Information

Specific requirements

Give careful consideration to your page layout and presentation

  • Use:
  • 12-point font
  • either Times New Roman or Arial (or similar) consistently throughout the report,
  • including in tables and figures
  • 5 centimetre (one inch) margins at the top, bottom, and both sides of the document
  • 5 spacing between lines
  • an additional line space between paragraphs, or indent the first line of each paragraph.

A checklist of elements of a good business development plan is provided in appendix A and acknowledgment of potential pitfalls can be found in appendix B !!!!

What is the purpose of this report?

Keep in mind that the purpose of a business development plan is generally to assist in decision making. Be sure you are clear on what decision is to be made and the role the report plays in this decision.

For example:

As a result of this report, the reader/s will understand

  • Where we want to be in the future (with specific details)
  • How we will get there (with the use of academic underpinning/strategic models and business theory)

 

Assessment criteria and the grading sheet can be found in appendix C.

 

Part B – Why Write a Business Development Plan?

 

A business development plan helps you to evaluate the feasibility of strategic ideas in an objective, critical, and unemotional way.

Writing an effective business development plan is a necessary skill for communicating ideas in the business environment. Reports usually address a specific issue or problem, and are often commissioned when a decision needs to be made. They present the author’s findings in relation to the issue or problem and then recommend a course of action for the organisation to take. The key to a good report is in-depth analysis. Good writers will show their reader how they have interpreted the issues at hand and fully understand/justify the basis on which the conclusions are drawn as well as the rationale for any recommendations.

Report writing uses some of the writing skills you have already acquired. You will structure your paragraphs and reference your ideas just as you have been doing in your essays and other assignments within your time at UCLan.

Your first assignment (poster) helped to identify where the company is now. This final assignment uses this information as foundations for improvement.

Assignment 1

(SWOT/PESTEL & Vision/Mission)

Assignment 2

 

 

Part C – Report Structure Overview

To write an effective business development plan you need to construct an outline/ structure, for your report. Check for a logical flow, and check your outline against your purpose, your reader/s, and the report’s relevant information requirements. A typical report layout can be found in appendix D

Cover Sheet

Your name, Enrolment Number, Course Name, Date etc.

Executive Summary

An executive summary is a short review of a business document. “Short” and “review” are key words here. The executive summary is not going to be comprehensive in any way, nor will it be a substitute for the original document. An executive summary should never be longer than 10% of the original document.  Aim for somewhere between 5% and 10%.

An executive summary is different from an abstract. An abstract gives the reader overview and orientation, while an executive summary gives the reader more of a summary. Abstracts are more commonly written in academia, while executive summaries are used more for business purposes.

Stylistic and structural guidelines should apply.

These include:

  • Paragraphs should be short and concise.
  • Executive summaries should make sense even if you haven’t read the original report.
  • Executive summaries should be written in language that is appropriate for the target audience.

Write this section last!!!!

Table of Contents

The table of contents follows the executive summary on a new page. It states the pages for various sections. The reader receives a clear orientation to the report as the table of contents lists all the headings and sub-headings in the report. These headings and sub-headings should be descriptive of the content they relate to.

Introduction – Overview of the current situation and objectives

(Keep this brief – you may wish to use an appendix to help support your writing)

This section may wish to provide brief overview of key information – aim for clarity and simplicity in this part. Too much detail here gets in the way of the main ideas.

 

Assess the current status quo. Provide information about how the company is handling the current situation and what its position is on the issue at hand.

 

You may wish to provide an overview here of the new strategic direction and keys to success. These will be individual to you and there are no right or wrong answers if they are feasible and you fully justify them. Use academic underpinning to support your suggestions and give them validity.

 

 

Basic Questions:

 

  • What type of business is this?
  • What is the status of the business? (Start-up, expansion, take-over, failure?)
  • What are your products? Do they meet market demands?
  • Who are (will be/are) your customers? – why do they/do they not choose to visit?
  • Is there anything special or unique about this business? Are there any areas which could be exploited?
  • Identify the main issue or problem to be reported on

(Adapted from Emerson, 1995, p. 35)

 

Moving Forward –Detailed Plan and Implementation

 

Establish a plan to meet the specified goals in the report. Goals should include specific actions, not vague statements. Each statement should directly indicate how the new method will help to meet the goal set forth in the report.

The following provides you with options to consider, however it is ultimately your decision and must analyse and justify appropriately.

Expansion

  • Alliances
  • Mergers
  • Acquisitions

Cost reduction – costs can be reduced in many areas of the business

  • Better supply arrangements,
  • products,
  • public relations,
  • training, advertising,
  • R&D may also be cut.
  • Divestment,
  • Internal divestment,
  • Assets sold and leased back
  • Stock management,
  • debt reduction,
  • changing prices,
  • refocusing,
  • new product development,
  • Emphasis on selling and competitors
  • How will products/services be packaged/delivered?
  • Will you introduce or change current products/services?
  • What Position or Image will you try to develop or reinforce?
  • What will be your pricing strategies? (highest quality, lowest price, wider selection etc..)
  • How will you compare with competition and how will they respond?
  • Why will customers pay your price?
  • What will be your credit policies?
  • Is there anything about your business which insulates you from price competition?
  • Can you add value and compete on issues other than price?
  • Who are your Target Markets?
  • How will you reach your Target Markets? (What Media will you use?)
  • How will you motivate them to buy? (What Message will you stress?)
  • What is the cost and timetable for implementation of the marketing plan?
  • Who are (will be) your largest competitors?
  • How will your operation be better (and worse) than your competitors?
  • How are competitors doing?
  • How will competition respond to your market entry?
  • What is the current business management experience of the management team?
  • What are the functional/worthless areas of the business?
  • Are there any personnel resources outside the company available?
  • What are the personnel needs now? In the future?
  • What skills must they have? What training will you provide?
  • Are the people you need available – if not what will you do about it?

Asset Reduction–

Revenue Generating –

Turnaround –

Product Strategies

Pricing Strategies

Promotional Strategies

Competition

HRM – Management and Operations

Consider…

Which model/s are you going to use to support your suggestions? Are there any other appropriate frameworks?

  • Michael Porter’s competitive approach
  • Michael Porter’s Value Chain
  • Igor Ansoff’s approach
  • Glueck’s approach
  • Kotler’s approach
  • Tailor-made strategies

Remember to fully evaluate the options including implications (positives and negative) and offer supported implementation advice.

Consider –

Cost/ Benefit: easy to quantify in monetary terms, not so easy to assess intangibles such as the effect on culture

Suitability: – does the chosen strategy: – Build on strengths and/or solve weaknesses? – Exploit opportunities and/or respond to potential threats? – Satisfy the goals and objectives of the business? – Fit the culture of the business?

Acceptability: – Depends on the views of the key stakeholders – What level of risk does the business want to take?

Feasibility: – What resources are available to support the strategy? (e.g. finance, experience; management resources)

 

Use the framework in Appendix E to clarify your thoughts.

Conclusions

A business development plan usually needs a conclusion.

When writing conclusions:

  • interpret and summarise findings – say what they mean
  • relate the conclusions to the report issue/problem
  • limit the conclusions to the data presented; do not introduce new material
  • number the conclusions and present them in parallel form
  • be objective: avoid exaggerating or manipulating the data.

 

(Guffey, et al. 2001, p. 391)

References

Referencing was still a main issue for many in assignment 1. You must reference fully using the Harvard referencing system.  Guidance on referencing can be found in your Student Handbook including what referencing is, why you need to reference and when to reference.

You are strongly advised to refer to the SSTO / LBS Standard Referencing Guide for Students.  It is an essential guide for all students who want to present academic material, especially for assessments, in the correct way.  This guide will be a valuable source of information throughout your time at university.  Follow the following link to access the guide

http://www.uclan.ac.uk/students/wiser/referencing_guides.php

Appendix

If material is important to your discussion and is directly referred to, then it should be included in your discussion proper. However, you might want to use appendices to include supplementary material that enhances understanding for the reader.

When you choose to include information in appendices, you should refer to it clearly in your text (refer Appendix A). A single appendix should be titled APPENDIX. Multiple appendices are titled APPENDIX A, APPENDIX B, etc. Appendices appear in the order that they are mentioned in the text of the report.

Appendices should:

  • provide detailed explanation serving the needs of specific readers
  • be clearly and neatly set out
  • be lettered
  • be given a descriptive title
  • be arranged in the order they are mentioned in the text
  • be related to the report’s purpose—not just ‘tacked on’.

 

(Adapted from Emerson, 1995, p. 41)

 

Happy Writing!

References

Emerson, L. (Ed.) (1995). Writing guidelines for business students. Palmerston North: The Dunmore Press.

Guffey, M. E., Rhodes, K., & Rogin, P. (2001). Business communication: Process and product (3rd Canadian ed.). Scarborough, Ontario: Nelson Thomson Learning.

 

Appendix A – Checklist of a business development plan

 

  • The report fulfils its purpose
  • The report is oriented to the intended reader/s
  • The report contains all appropriate elements (executive summary, table of contents …)
  • The discussion has descriptive and appropriately formatted headings and subheadings
  • The discussion contains thorough analysis of findings as well as logical flow
  • The report has been edited for section cohesiveness and good paragraph structure
  • The report has been proofread for sentence structure, spelling, punctuation, and consistency
  • Tables and figures are formatted correctly and labelled
  • Tables, figures, and appendices are referred to within the text / discussion
  • Quotations from other sources are referenced
  • Thoughts and ideas paraphrased from other sources are referenced
  • The reference list is formatted properly
  • The cover page has all necessary details
  • Appendices are used to support the discussion, but tables / figures which are essential to the discussion are included within the text.

Appendix B – Potential Pitfalls (Ten Ways to Ruin Your Business Development Plan)

 

These errors in business plan preparation and presentation will undermine the credibility of the plan.

Submitting a “rough copy,” (with grammatical errors and typos) this tells the reader that you do not take the planning process seriously.

Out-dated historical information – this will impact on your grade as it will leave doubts about your abilities.

Lack of analysis. Fully justify all of your recommendations/conclusions. You must be prepared to explain the “why” of every point in the plan.

Lack of specific, detailed strategies. A plan that includes only general statements of strategy (“We will provide world class service and the lowest possible price.”) without justification will be dismissed.

Wrong goal description. Instead of pursuing long term corporate survival, short term isolated problems are noted demonstrating a lack of direction.

Unnoticed side effects. Taking a linear approach by expending time and effort on the measures the strategies that appear to appropriate and not considering the consequences.


Appendix C – Grading Sheet

 

Grade % Descriptive terms associated with students’ performance across a level Knowledge / Understanding Argument / Evaluation /

Application

Research /

Evidence/ Interpretation

Presentation / Structure / Referencing
  What are we looking for in each column? What do you know and understand? What do you do with this? How do you evidence/support this? How do you communicate this?
86-100 Exemplary, outstanding, creative, insightful, illuminating, inspiring, authoritative, professional, exceeding expectations

 

The plan demonstrates an outstanding understanding of a key/core contemporary theories, some of which at the current boundaries of an academic discipline An outstanding ability to critically evaluate ideas, challenge assumptions and devise and sustain arguments Authoritative use of established techniques of analysis, scholarly reviews and primary sources appropriate to the discipline of strategic management. The business plan is professionally presented, structured and communicated (to relevant/specialist audience); references accurate, reliable and precise
70-85 Excellent, persuasive, sophisticated, original, ambitious, meticulous, critical, innovative

 

The plan demonstrates an excellent understanding of a key/core contemporary theories, some of which at the current boundaries of an academic discipline An excellent ability to critically evaluate ideas, challenge assumptions and devise and sustain arguments

 

Persuasive use of established techniques of analysis, scholarly reviews and primary sources appropriate to the discipline of strategic management. The business plan is excellently presented, structured and communicated (to relevant/specialist audience); references accurate, reliable and precise
60-69 Very good, fluent, thorough, analytical, precise, rigorous, sustained, convincing

 

The plan demonstrates a very good understanding of a key/core contemporary theories, some of which are at the forefront of the discipline A very good ability to critically evaluate ideas, challenge assumptions and devise and sustain arguments

 

Convincing use of established techniques of analysis, scholarly reviews and primary sources appropriate to the discipline of strategic management. The business plan is precisely presented, structured and communicated (to relevant/specialist audience); references accurate and reliable
50-59 Good, reasonable, clear, confident, thoughtful, accurate, careful, congruent, coherent, solid, relevant, minor deficiencies

 

The plan demonstrates a good understanding of a key/core contemporary theories A good ability to critically evaluate ideas, challenge assumptions and devise and sustain arguments

 

Confident use of established techniques of analysis, scholarly reviews and primary sources appropriate to the discipline of strategic management. The business plan is confidently/ clearly presented, structured and communicated (to relevant/specialist audience); references generally accurate with minor deficiencies
40-49 Satisfactory, sufficient, adequate, descriptive, partial, elementary, basic, mostly relevant, with deficiencies

 

The plan demonstrates a satisfactory understanding of a key/core contemporary theories A basic ability to critically evaluate ideas, challenge assumptions and devise and sustain arguments

 

Adequate use of established techniques of analysis, scholarly reviews and primary sources appropriate to the discipline of strategic management. The business plan is satisfactorily presented, structured and communicated; references mostly accurate but some deficiencies
30-39 Incomplete, inadequate, inaccurate, inconsistent, contradictory, superficial, partially relevant, limited, below level The plan demonstrates an incomplete understanding of key/core theories Inadequate ability to critically evaluate ideas, challenge assumptions and devise and sustain arguments Limited use of analysis, scholarly reviews and primary sources

 

The business plan is inadequately presented, structured and communicated;; references inaccurate and inconsistent
15-29 Erroneous/wrong, missing, extremely limited, irrelevant,  inappropriate, insufficient,  unstructured, below expectations, not systematic, poor The plan demonstrates an extremely limited understanding of key/ core theories Insufficient evaluation; inability to develop a sustained argument

 

Poor use of analysis, scholarly reviews and primary sources

 

The business plan is unstructured; poorly presented and communicated; referencing erroneous/missing
0-14 Absent/none, lacking, formless, detrimental, incoherent, non-existent, deficient

 

The plan demonstrates an absence of understanding of key/ core theory Lacking any form of evaluation and argument A lack of analysis, and use scholarly reviews and primary sources non-existent Presentation and communication of the business plan are careless and deficient; an absence of referencing

 


Appendix D – Typical Report Layout

Contents Page

Executive Summary……………………………………………………..…….i

Table of Contents…………………………………………………….…………ii

Introduction……………………………………………………………….……..1

Part A

Overview of the Business/Market Analysis……………………………3

Part B

Moving Forward/Detailed Plan…………………….…………………….6

Strategic Option 1…………………….……………………..………..8

Overview……………………………..…………….…………10

Model/Strategy…………………………….……………… 12

Implications…………………………………………………..14

Strategic Option 2

Overview……………………………..……………….………17

Model/Strategy………..………………………….……… 19

Implications……….……………………………….………..20

Strategic Option 3

Overview……………………………..…………….…………21

Model/Strategy…………..……………………….……… 22

Implications………………………………………..………..24

Conclusion……………………………………………………………………..27

Appendix………………………………………………………………………..28

The following suggests a guideline of how you may wish to present your work – please note this is only a suggestion and you should feel free to explore other layouts if you feel they are more appropriate. .

 

 


Appendix E – Strategy Framework

 

What are you going to do?

 

Associated theory/model

 

Why was this strategy chosen?

 

What are the implications of the strategy

 

Cost/ Benefit, Suitability, Acceptability, Feasibility

 

Implementation advice

Positives Negatives

 

Get a 5 % discount on an order above $ 150
Use the following coupon code :
2018DISC
Take the offender through the criminal court process in United Kingdom
Georgian diaspora culture, identity and youth work in the UK

Tags:

Category: Uncategorized

Our Services:
Order a customized paper today!