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Enjoy living company and business

using enjoy living company and business template. complete below. You will craft the heart of your financial projections by focusing on the Profit and Loss Statement projected over the next three years. Along with this, you will discuss the logic you used to estimate your sales (be sure to refer back to Section 4 of your business plan), and your expenses (the top five line items). Complete the Profit and Loss (section 6.1) of your business plan and the profit and loss assumption—section 6.5.1. You must justify your sales level by explaining the growth rate (number of customers times their average spending per visit and number of visits). Also justify your top five expenses. Use research to back up your numbers where appropriate (for example, likely rents based on commercial real estate leases in your area). Finally, you will craft your elevator pitch for your company and be prepared to record it and post it to the unit 10 Discussion boards. This “pitch” is created by entrepreneurs to help get potential investors excited or interested in their venture. Assignment checklist: Complete section 6.1 (Profit and Loss Statement) of your business plan outline Complete section 6.5.1 (Profit and Loss Assumption) of your business plan outline. Include justification for your sales figure, and explain the top five expenses. Write an elevator pitch that will be no longer than 60 seconds. No APA is required in this pitch. (Be prepared to record the pitch into a .WAV file in the next unit.)

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Financial Projection

The financial project for Enjoy Living was based on the key assumptions. The first assumption was that the company will make cash payments for all the services and withhold 10 % of the sales projected as an insurance reimbursement. The second assumption was that Enjoy Living will be operating on a strong and stable economy with minimal recession(Covello & Hazelgen, 2006). The third assumption was the medical insurance industry will not change in the near future. The fourth assumption was that the average variable cost will be 10 % of the monthly fixed cost. For Enjoy Living to break-even, it must provide 255 units of service per month or 3,010 units of service which translates to 894 patient visit annually.

Profit and Loss

 Year 1Year 2Year 3
Sales$ 700,000.00$ 730,000.00$ 830,892.00
Cost of Sales$    65,000.00$    57,687.00$    61,730.00
Massage Therapists’ Commissions$    85,320.00$    88,460.00$    90,050.00
Aestheticians’’ Commissions$    18,950.00$    21,453.00$    22,120.00
Other Services Commissions$    17,260.00$    15,380.00$    18,450.00
Total Cost of Sales$ 186,530.00$ 182,980.00$ 192,350.00
Gross Profit$ 513,470.00$ 547,020.00$ 638,542.00
OPERATING EXPENSES
Salary (Office & Overhead)$ 255,430.00$ 260,480.00$ 281,920.00
Payroll (taxes, etc.)$                   –$                   –$                   –
Outside Services$    12,000.00$    13,000.00$    14,000.00
Supplies (Office & Operation)$      2,600.00$      2,650.00$      2,800.00
Repairs & Maintenance$      6,850.00$      7,340.00$      8,050.00
Advertising$      2,500.00$      2,500.00$      2,500.00
Car, Delivery & Travel$      1,500.00$      2,500.00$      3,000.00
Accounting & Legal$      6,480.00$      7,039.00$      7,500.00
Rent$    60,000.00$    60,000.00$    60,000.00
Telephone$      1,500.00$      1,500.00$      1,500.00
Utilities$      2,500.00$      2,600.00$      2,700.00
Insurance$      1,500.00$      1,500.00$      1,500.00
Taxes (Real Estate, etc.)$      6,500.00$      7,000.00$      7,500.00
Interest$      2,500.00$      2,700.00$      2,900.00
Depreciation$                   –$          100.00$      1,000.00
Other Expenses$      3,000.00$      3,000.00$      3,000.00
TOTAL EXPENSES$ 364,860.00$ 373,909.00$ 399,870.00
NET PROFIT BEFORE TAXES$ 148,610.00$ 173,111.00$ 238,672.00
Income Taxes$    40,000.00$    41,000.00$    41,500.00
 
NET PROFIT AFTER TAX$ 108,610.00$ 132,111.00$ 197,172.00

Cash Flow

Cash Flow Pre-Startup  Year 1  Year 2  Year 3
 ESTIMATE
Cash on Hand$     225,650.00$     315,470.00$     403,456.00$ 514,750.00
CASH RECEIPTS
Cash Sales$                    –$ 700,000.00$ 730,000.00$ 830,892.00
Collections from CR Accounts$                    –$       17,000.00$       18,000.00$    19,000.00
Loan/Cash Injection$189,560$                    –$                    –$                   –
TOTAL CASH RECEIPTS$     189,560.00$     717,000.00$     748,000.00$     849,892.00
TOTAL CASH AVAILABLE$     415,210.00$ 1,032,470.00$ 1,151,456.00$ 1,364,642.00
 
CASH PAID OUT
Purchases$         6,400.00$      5,378.00$      5,293.00$      5,178.00
Gross Wages$       63,000.00$ 255,430.00$ 260,480.00$ 281,920.00
Outside Services$         4,600.00$    12,000.00$    13,000.00$    14,000.00
Supplies$    12,000.00$      2,600.00$      2,650.00$      2,800.00
Repairs & Maintenance$      2,600.00$      6,850.00$      7,340.00$      8,050.00
Advertising$      4,900.00$      2,500.00$      2,500.00$      2,500.00
Car, Delivery & Travel$      2,500.00$      1,500.00$      2,500.00$      3,000.00
Accounting & Legal$      1,000.00$      6,480.00$      7,039.00$      7,500.00
Rent$    20,000.00$    60,000.00$    60,000.00$    60,000.00
Telephone$      2,500.00$      1,500.00$      1,500.00$      1,500.00
Utilities$      1,500.00$      2,500.00$      2,600.00$      2,700.00
Insurance$      3,500.00$      1,500.00$      1,500.00$      1,500.00
Taxes (Real Estate, etc.)$                   –$      6,500.00$      7,000.00$      7,500.00
Interest$      6,500.00$      2,500.00$      2,700.00$      2,900.00
Other Expenses$      2,500.00$      3,000.00$      3,000.00$      3,000.00
SUBTOTAL$     133,500.00$     370,238.00$     379,102.00$     404,048.00
Loan Principal Payment$         7,200.00$         7,200.00$         7,200.00$         7,200.00
…………………………………………………………………………………………………
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New Balance Company

Company Analysis

In this activity, you will research the New Balance Company and write an essay (Links to an external site.) based on the concepts learned this week. Your essay should be double-spaced, at least 250 words, and adhere to APA guidelines. Ensure you have a cover page, introduction, body, and conclusion for your essay.

Visit the New Balance website: www.newbalance.com (Links to an external site.) and review the company’s information.

Answer the following questions in an essay format below.

    From your assessment of New Balance, identify and describe in detail at least one of Porter’s generic competitive strategies New Balance has been using. From your evaluation, what are some of your recommendations for New Balance to be more competitive in a global market?
    Assess New Balance’s opportunities and threats; provide a plan for implementing at least two opportunity strategies and addressing two current threats you’ve identified. Explain how those opportunities and threat strategies will positively affect New Balance’s business operations.

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Company Analysis

Name:

Grade Course:

Tutor’s Name:

Date of Submission:

The New Balance company is known for producing and selling running and training shoes. The company also manufacture and sells other products such as skateboarding shoes, lacrosse and cyclic shoes. Analysis showed that New Balance uses cost-leadership strategy as one of the porter’s generic competitive strategies(Schlesinger, 2015). When compared to other competing brands in the market such as the products from Nike and Adidas, New Balance products are cheaper. This strategy allows the company to target a wider market. Despite the fact that New Balance produces its products in United States and the cost of product is high, the company has managed to keep the prices of its products below those of the competing companies. The only products that retails with high prices are those that are customizable in nature. Further analysis indicated that marketing managers of the company are keen in utilizing cost-leadership strategy.

            It is recommendable that New Balance should consider shifting its production line to China or any other Asian country in order to reduce production cost. Studies have showed that the cost of manufacturing a product in Asia is between 50 % to 80 % of what it cost to produce in U.S. due to cheap labor(Steward, 2015). Although the prices of New Balance product are competitive, moving its production to Asia will significantly reduce the cost of production thus fetching much lower prices.             The threats New Balance is facing lack of rarity and imitation from other companies such as Nike and Adidas. Since the company targets wider market, its products are common and ordinary. The opportunity available for New Balance is…………………………………….

…………………

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Global Green Books Publishing company

Review the nine mini-case study series from the Project Management Institute on the Global Green Books Publishing company before starting this assignment.

In this assignment, you will develop a risk matrix that analyzes key risks from one of the mini-case studies. You will analyze the cause of each risk, estimate its probability of occurrence, its potential impact, and recommend a response to each risk. You will also analyze the skills and competencies needed by team members in order to effectively manage project risk.

Write a 3 page paper in which you:

Project Management – A Case of the Global Green Books Publishing Company

Name of Student

University Affiliation

Course Number

Instructor’s Name

Date

Project Management – A Case of the Global Green Books Publishing Company

            Project management risks analysis refers to an evaluative process that seeks to establish and understanding of the nature and magnitude of risks that an organization undertaking a project faces (Edwards & Bowen, 2013). The process involves breaking of each risk into its components but not necessarily with exactness of mathematical accuracy. Risk analysis is critical in allowing project managers in achieving the project goals through the avoidance, elimination, or reduction of problems that can cause project delay or cause unplanned project losses.

Risk Matrix for Global Green Books Publishing Company Project

RiskCause of the RiskProbability of OccurrencePotential ImpactRecommendation
Lack of trained staff with knowledge in project managementPoor recruitment and inability to align project goals with skills  90%Ineffective leverage of new employees and inability to meet project objectives and goals.Hire skilled workforce. There is need to have project manager with skills in project management.
Failure to deliver eBooks to customers within agreed time leading to loss of business.Lack clearly defined statement of work and work breakdown structure.  100%Loss of business as major customers received books late, affecting classes and study plans.Clearly define project goals and objectives that need to be attained.
Inability to provide quality texts.Unqualified staff in charge of eBooks editing. Lack of clear roles that led to assigning editing duties to staff who were less qualified.95%Reduced customer satisfaction and led to increased time spend in fixing defective texts.Set clear roles and responsibilities among the employees. Employ qualified staff to handle editing to ensure only quality texts are published. 
Escalation in costsPoor estimation of resources, lack of clear financial plan.75%Led to the company reporting losses. Losses affect the ability to meet recurrent expenditures such as salaries and acquisition of materials and equipment.Develop clear financial plan. Involve all the departments and establish budget estimates for each department. Hire qualified financial planning expert to work with the project manager.

Skills or Competencies Needed by Team Members for Effective Identification and Management of Risks in Global Green Books Publishing

The business environment is dynamic, fast-paced, evolving, and is characterized by rapidly changing technologies.  Mainga (2017) points out the need for dynamic capability-perspectives that is focused on the required competencies that is need for effective project execution is such business environment. Since projects consist of different phases, the critical competencies required to minimize risks are varied. The competencies that are needed by team members in Global Green Books Publishing for effective identification and management of risks are effective communication, good decision-making, discipline and execution, and monitoring and control………………………………………………………………………………………………

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Offering (IPO) of the company

Assume you are the partner in an accounting firm hired to perform the audit on a fortune 1000 company.  Assume also that the initial public offering (IPO) of the company was approximately five (5) years ago and the company is concerned that, in less than five (5) years after the IPO, a restatement may be necessary. During your initial evaluation of the client, you discover the following information:

•The client is currently undergoing a three (3) year income tax examination by the Internal Revenue Service (IRS). A significant issue involved in the IRS audit encompasses inventory write-downs on the tax returns that are not included in the financial statements. Because of the concealment of the transaction, the IRS is labeling the treatment of the write-down as fraud.
•The company has a share-based compensation plan for top-level executives consisting of stock options. The value of the options exercised during the year was not expensed or disclosed in the financial statements.
•The company has several operating and capital leases in place, and the CFO is considering leasing a substantial portion of the assets for future use. The current leases in place are arranged using special purpose entities (SPEs) and operating leases.
•The company seeks to acquire a global partner, which will require IFRS reporting.
•The company received correspondence from the Securities and Exchange Commission (SEC) requesting additional supplemental information regarding the financial statements submitted with the IPO.

Write an eight to ten (8-10) page paper in which you:

1.Evaluate any damaging financial and ethical repercussions of failure to include the inventory write-downs in the financial statements. Prepare a recommendation to the CFO, evaluating the negative impact of a civil fraud penalty on the corporation as a result of the IRS audit. In the recommendation, include essential internal control procedures to prevent fraudulent financial reporting from occurring, as well as the major obligation of the CEO and CFO to ensure compliance.
2.Examine the negative results on stakeholders and the financial statements of an IRS audit which generates additional tax and penalties or subsequent audits. Assume that the subsequent audit and / or additional tax and penalties result from the taxpayer’s use of an inventory reserve account, applying a 10 percent reduction to inventory over three (3) years.
3.Discuss the applicable federal tax laws, regulations, rulings, and court cases related to the inventory write-downs, and explain the specific relevance of each to the write-down.
4.Research the current generally accepted accounting principles (GAAP) regarding stock option accounting. Evaluate the current treatment of the company’s share-based compensation plan based on GAAP reporting. Contrast the financial benefits and risks of the share-based compensation stock option plan with the financial benefits and risks of a share-based stock-appreciation rights plan (SARS). Recommend to the CFO which plan the company should use, and provide the correct accounting treatment for each.
5.Research the reporting requirements for lease reporting under GAAP and International Financial Reporting Standards (IFRS). Based on your research, create a proposal for future lease transactions to the CFO. Within the proposal, discuss the use of off-the-balance sheet financing arrangements, capital leases, and operating leases, and indicate the related business and financial risks of each.
6.Create an argument for or against a single set of international accounting standards related to lease accounting based on the global market and cross border leases of assets. Examine the benefits and risks of your chosen position.
7.Examine the major implications of SAS 99 based on the factors you discovered during the initial evaluation of the company. Provide support for your rationale.
8.Analyze the potential for a material misstatement in the financial statements based on the issues identified in your initial evaluation. Make a recommendation to the CFO for the issuance of        restated financial statement restatement. Identify at least three (3) significant issues that can result from the failure to issue restated financial statements.
9.Examine the economic effect of restatement of the financial statements on investors, employees, customers, and creditors.
10.Use five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.                               
Topic; Assignment 3: Capstone Research Project

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Capstone Research Project

(Course Instructor)

(University Affiliation)

(Student’s Name)

(Date)

Assignment 3: Capstone Research Project

Repercussions of Failure to Include Inventory Write-Downs in Financial Statements 

The Sarbanes-Oxley Act and GAAP (generally accepted accounting principles) rules provides for the restatement of the financial statements (Powers, & Needles, 2012). In addition, the IAS does not demand separate disclosures on write downs in the income statement being a low persistence item. However, it (IAS) requires that sufficient information that affects significant events and warrants a better understanding, to be provided.

The exclusion of inventory write downs pose a financial threat as there is likelihood of overestimation of earnings persistence, which poses a great ethical concern. Moreover, it is a source of ethical and financial concerns such as excessive compensation of top executives; it can derail belief of shareholders in the management, loss of goodwill, loss of brand values and concealment of fraud penalties. The company accountants, who promote less than full financial reporting, violate the accounting standards, ethics of the profession and the trust accorded to the accounting professional behavior. As a partner in the audit firm, it would be recommended that strong internal controls be implemented and monitored by the company CEO and CFO. The IRS poses negative repercussions on the company owing to likelihood of financial misrepresentations that arise from write downs. The internal controls that the company sh……..……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….

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What business model does your company use?

What business model does your company use? What is your organization’s vision and mission? What objective evidence, using the Three Tests of a Winning Strategy, is there that your organization’s vision, mission, and objectives support its strategy?

………………………………………………

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Management: Essay

(Course Instructor)

(University Affiliation)

(Student’s Name)

(Date)

Avon Products Inc.

Business Model

            My company is Avon Products Inc., the world’s largest direct selling company. The Avon Products Inc. business model has always been based on believes that its success in the beauty products industry rests on its distribution strategies.  The company employs the model of direct selling, which enables the company to reach its worldwide customers in over 100 countries. To be a sales representative requires minimal startup costs.

            The direct selling model enables the company to sell its products to its sales representatives on credit. To achieve its mission and goals, the company has invested on its customer representatives, providing training, restructuring the representative commission and rolling out new opportunities in sales representative leadership. The multi layered marketing strategy allows the sales representatives to increase their commissions within their sales team through referrals.

Mission Statement

            The company mission is stated in its five key ideals: The Company strives to be the market leader, the women’s choice for buying, premier direct seller, best place to work, the largest women’s foundation and the most admired company is cosmetics industry (Avon Products Inc., 2015).             Avon, through its mission, aims to create a unique………………………………………………….

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Research paper on the company relocating 25 of their 300 employees to China

Executive Summary: 1 page Body with section headings: 5 pages Conclusions and Recommendations: 1 page Bibliography: 1 page References: Provide at least 10 references in the Bibliography; use footnotes or parenthetical citations to document information. Potential Audience: Your primary readers will be the company CEO; the VP for Human Resources (HR), members of the Board of Directors, the company CFO (Chief Finance Officer), company employees, and possibly the SEC (Securities and Exchange Commission). Background and Scenario: The scenario for writing assignments #1, #2, and #3 continue. The company CEO has approved your proposal. Now is time to get to work on the report (Writing Assignment #7) TASK: Using your proposal as a starting point, develop the Business Report with Recommendations (Writing Assignment #3) that you proposed. Use the format in Chapter 18 of the text for your report (see the guidance above, also, for format and length). As with your proposal, use document design techniques, diagrams, photos, and other visuals to comply with the CEO’s guidance. REMINDER: Continue to use the hypothetical company and the country you selected for writing assignment #1 (Memo with documented 

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BUSINESS REPORT

Kimberly M. Lane

James Watkins

English : Business Communications

Summary             Since the introduction of “Opening-up and Reform” policy in 1978, China experience increase in foreign investment. In the past three decades, Chinese government has seen a gradual increase in overseas investment.Analysis indicated that foreign investment in China have increased significantly from negligible levels in 1978 to approximately $95 billion in 2008. Foreign investment in China comes in the form joint venture with Chinese firms, solely-owned ventures, joint exploitation, contractual joint venture, foreign-funded share-holding enterprises or equity joint venture. The fact that the three largest supermarkets in China are Metro, Carrefour and Wal-Mart, which are foreign and the dominance of Pepsi and Coca Cola in soft drinks is clear indication that Chinese market is open to foreign investment. As a result, these Multi-National Enterprises (MNEs) have influenced the economic development…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….

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Compensation has no bearing on a company’s performance

1) Describe your reaction to the following statement: compensation has no bearing on a company’s performance.

and

(2) Should the government raise the minimum wage? Explain your answer.

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Management: Compensation, Performance and the Minimum Wage

(Course Instructor)

(University Affiliation)

(Student’s Name)

Compensation has No Meaning on Company’s Performance

Thoughts

            In the modern competitive global world, attracting competent and effective workforce has become a major necessity for every organization. However, having an effective and efficient workforce is not enough if a company must realize its goals. There is often the need to offer competitive compensation that matches the employee capabilities, experience and output. Compensation is correlated to the company performance, thus it has a huge of company performance. A poorly compensated workforce is likely………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….

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Company Competitive Analysis

Instructions

Marketing Plan

Throughout this course, you have learned about the elements of a marketing plan. This assignment will provide you with the opportunity to research the marketing methodology of an existing publicly traded company; using a publicly traded company will provide you with access to a greater amount of information to complete this assignment. As you research this company, apply the theoretical learning from this course.

Include the sections below in your marketing plan.

  • Introduction: Include a brief introduction of the company. 
  • Competitive Analysis: Who are your company’s competitors, and how is each differentiated? Identify two or three strengths and two or three weaknesses of your company compared to a minimum of two of your company’s competitors. 
  • Marketing Strategies: What are the marketing strategies used by your company in the management of the global customer brand? Use the four Ps in your analysis, which are listed below. 
  • Competitive Advantage: Identify whether your company has a competitive advantage in each of the areas of the four Ps. Remember that your company could have a competitive advantage in one area and not in another. Include supporting rationale.

Your submission must be in essay format and use subheadings. You need to include a minimum of five scholarly sources (no blogs, no Wikipedia), and three must be peer-reviewed sources. Your scholarly activity must be at least six pages in length, not counting the title page and references page. APA format is required.

The Strategic Leadership of the Company The strategy of Verizon Wireless is to roll out a 5G wireless to drive revenue performance as per the set goals. This new drive, dubbed by the mainstream media as an ambitious strategy called for a few changes in the company’s execution plan, precisely laying emphasis on individual leader contribution towards actualizing the set goals and objectives. Conspicuous among the introduced changes include restructuring that has seen the company’s service architectural backbone split into three divisions: the Consumer Group, the Business Group, and Verizon Media. Significant about the new structure is a clear reflection of a strategy that starts with company customers built by transformational top-down model company strategy aligned leadership and punctuated by a visionary executive accustomed to prompt action to opening opportunity (Yang, Trimi & Lee, 2016). Further to the effect, all middle-level leaders such as departmental managers are highly invigorated and focused on influencing their respective departmental workers in contributing to the realization of the company strategy, 5G wireless distribution. Competitive Advantage Scanning through the telecommunication industry, Verizon Wireless is one of the pioneer companies with well-established infrastructure suiting it to provide quality service that its name has become accustomed to. On the other hand, Verizon’s intensive, well thought out growth strategies have not only shaped the overall industry approach but have also enabled it to cut out itself from the mainstream queue of other companies and be the leader in telecommunication that it is today. For instance, the company utilizes its aggressive growth strategy and external economies of scale to penetrate new markets and acquire local firms with already existing client networks and necessary infrastructure to pedal on from. Also worth noting is the brand quality

…………………………………………………………………………………Company Competitive Analysis…………………………….

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Modify the hierarchy of the company to have cross functional teams

Assessment Guidelines/BSBINN601
Assessment task 1- Project
Change Requirement report
Introduction
(In this section, Discuss about overview of the company)
Background to the company
A. Analyse the internal and external environments for change and prepare a change requirement report that includes:
1. Identification of strategic change need
• Modify the hierarchy of the company to have cross functional teams
• Invest in good communication software
2. Review of existing policies and practices
• Continuous improvement policy
• Recommendation for continuous improvement
• Expansion through mergers
• Offering new products
3. A PEST analysis to identify external events or trends
Political Factor

Monitoring political and legal changes, such as a change in government policy.
• Australian Consumer Law (Tasmania) Act 2010
• Fair Trading (Code of Practice for Retail Tenancies) Regulations 1998
• Building Regulations 2016
• WHS policy
Economic factor
Monitoring economic changes, such as a change in currency value or a potential recession
Social Factor
Monitoring sociocultural changes, such as an increase of certain cultural groups in an area
Technological factor
Monitoring technological changes, such as increased or decreased social media interaction with stakeholder’s
4. A SWOT analysis to Identify major operational change requirements.
a. Undertaking a SWOT analysis to identify strengths, weaknesses, opportunities and threats to the organisation, and determining change requirements
b. Reviewing the organisation and its individual areas, processes, people, technology and structure, and identifying where any gaps exist
c. Assessing the organisational structure to determine whether current levels of management, divisions, departments and teams enable the organisation to achieve its objectives
Strength
Weakness
Opportunities
Threats
B. Develop a change management project plan that outlines the change management strategy that includes:
1. A cost–benefit analysis for high-priority change requirements and opportunities you have identified
Detail of strategy change needs Cost Benefits Risk Associated

2. A risk management plan with risk analysis to identify barriers to change
2.1. Identify the Risk
2.2. Analyse risk
• Risk Matrix
2.3. Treat Risk
2.4. Monitor and Review
3. Determine resource requirements – human, physical and financial resources
? Human resource
• External consultant
• Production manger
? Physical resource
• Workstation
• Computer/technological needs
? Financial resource
• Budget required for change
4. A Gantt chart to present time lines and schedules
C. Develop a communication or education plan in consultation with managers and other relevant stakeholders:
1. Consultation with relevant individuals to determine how you will promote the benefits of change and minimise loss to the organisation.
? Board of directors
? Middle managers
? External change management consultant
? Staff/employees
? Cross functional team
2. Organise and manage the activities required to deliver the plan, including time lines for implementation.
• Using the information in the communication or education plan to determine the best communication method
• Arranging suitable times for meetings and communication sessions by liaising with line managers and staff
• Determining who needs to know what information and when
• Managing the frequency of reports and communications
• Reflecting on different groups, including their prior knowledge and level of involvement
• Determining activities for each stakeholder group (i.e. those who need to be managed, satisfied, informed and monitored)
• Undertaking appropriate activities for each group, such as emailing progress reports to those who need to be kept informed
D. Identify and respond to barriers to change as outlined in the risk management plan. This may include developing strategies that will mitigate risks and effectively respond to barriers.
• Identifying barriers, such as lack of employee involvement, ineffective communication, poor planning, or unknown current or future state of the organisation
• Managing barriers identified in the risk assessment, stakeholder analysis and change management plan
• Arranging for counselling and HR involvement where necessary, such as in relation to a redundancy or redeployment
• Providing recognition and rewards to promote a sense of achievement
• Dealing with conflict and negotiating for a win–win situation
• Undertaking appropriate mitigation strategies, such as having a meeting with stakeholders or implementing a recognition and reward system
E. Begin the change management process:
1. Implement the interventions and activities as set out in the project plan.
a. Team-building exercises
b. intergroup development
c. process consultation
d. surveys
e. job redesign
f. training and development
g. sensitivity training
h. career planning
2. Carry out the strategies for embedding the change.
• Implementing new policies and procedures
• Putting controls in place to reinforce new behaviours, attitudes and practices
F. Prepare for the evaluation and review of the plan to achieve objectives and modify the plan where appropriate. This may include conducting a gap analysis and distributing an evaluation form to stakeholders.
• Undertaking a gap analysis
Assessment Task-2. Role Play/PPT
Assessment Task-3. Written Test
1. Explain the three major stages in the change management process.
• Identifying opportunities and requirements of the change, which includes discussing internal and external needs for the change, requirements the organisation has for the change, and prioritising the change needs.
• Developing a change management strategy and plan, which involves:
? analysing costs, risks and potential barriers
? developing the plan document
? assigning resources so implementation can begin.
• Implementing and evaluating the change, including communicating why the change was needed to lessen resistance to it, ensuring change becomes embedded and monitoring the plan.
2. Identify and explain five of the steps used in a communication strategy when communicating and embedding change.
Please explain any 5 points given below:
• Articulate the strategy, with the aim to educate stakeholders regarding why the change needs to occur, benefits, and potential barriers to the change.
• Identify stakeholder audiences by consulting impact, readiness, risk, activity and assignment analyses. Stakeholders should also be analysed to identify what needs to be done to manage resistance.
• Conduct stakeholder analysis to analyse the power, interest and impact of different stakeholders.
• Analyse and group stakeholders into ‘those to manage’, ‘those to satisfy’, ‘those to inform’ and ‘those to monitor’.
• Determine audience needs by considering what the audience already knows, what the audience needs to know, what training is available, who needs written progress reports, effective methods of communication, the accessibility of information, and whether there are any particular needs or disabilities to be aware of.
• Determine communication and consultation methods by taking note of which group the stakeholders are in and communicating accordingly; for example, regular, personal contact with those in the ‘manage closely’ group
• Ensure managers become change agents by training them to develop change action plans specific to their areas, implementing organisational strategies to manage barriers, or setting up coaching and mentoring initiatives.
• Document actions by assigning responsibilities for carrying out and reporting communications activities.
3. Explain how organisational behaviour impacts change strategies
4. Explain five ways the external environmental can impact change strategies.
5. Describe two components of a change management project plan.
6. List four examples of barriers to change and four strategies that can be used to address them.
• Providing personal counselling
• Providing recognition and rewards
• Dealing with conflict
• Negotiating for a win–win outcome


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Modify the hierarchy of the company to have cross functional teams

 Assessment Guidelines/BSBINN601Assessment task 1- Project
Change Requirement report
Introduction
(In this section, Discuss about overview of the company)
Background to the company
A. Analyse the internal and external environments for change and prepare a change requirement report that includes:
1. Identification of strategic change need
• Modify the hierarchy of the company to have cross functional teams
• Invest in good communication software
2. Review of existing policies and practices
• Continuous improvement policy
• Recommendation for continuous improvement
• Expansion through mergers
• Offering new products
3. A PEST analysis to identify external events or trends
Political Factor

Monitoring political and legal changes, such as a change in government policy.
• Australian Consumer Law (Tasmania) Act 2010
• Fair Trading (Code of Practice for Retail Tenancies) Regulations 1998
• Building Regulations 2016
• WHS policy
Economic factor
Monitoring economic changes, such as a change in currency value or a potential recession
Social Factor
Monitoring sociocultural changes, such as an increase of certain cultural groups in an area
Technological factor
Monitoring technological changes, such as increased or decreased social media interaction with stakeholder’s
4. A SWOT analysis to Identify major operational change requirements.
a. Undertaking a SWOT analysis to identify strengths, weaknesses, opportunities and threats to the organisation, and determining change requirements
b. Reviewing the organisation and its individual areas, processes, people, technology and structure, and identifying where any gaps exist
c. Assessing the organisational structure to determine whether current levels of management, divisions, departments and teams enable the organisation to achieve its objectives
Strength
Weakness
Opportunities
Threats
B. Develop a change management project plan that outlines the change management strategy that includes:
1. A cost–benefit analysis for high-priority change requirements and opportunities you have identified
Detail of strategy change needs Cost Benefits Risk Associated

2. A risk management plan with risk analysis to identify barriers to change
2.1. Identify the Risk
2.2. Analyse risk
• Risk Matrix
2.3. Treat Risk
2.4. Monitor and Review
3. Determine resource requirements – human, physical and financial resources
? Human resource
• External consultant
• Production manger
? Physical resource
• Workstation
• Computer/technological needs
? Financial resource
• Budget required for change
4. A Gantt chart to present time lines and schedules
C. Develop a communication or education plan in consultation with managers and other relevant stakeholders:
1. Consultation with relevant individuals to determine how you will promote the benefits of change and minimise loss to the organisation.
? Board of directors
? Middle managers
? External change management consultant
? Staff/employees
? Cross functional team
2. Organise and manage the activities required to deliver the plan, including time lines for implementation.
• Using the information in the communication or education plan to determine the best communication method
• Arranging suitable times for meetings and communication sessions by liaising with line managers and staff
• Determining who needs to know what information and when
• Managing the frequency of reports and communications
• Reflecting on different groups, including their prior knowledge and level of involvement
• Determining activities for each stakeholder group (i.e. those who need to be managed, satisfied, informed and monitored)
• Undertaking appropriate activities for each group, such as emailing progress reports to those who need to be kept informed
D. Identify and respond to barriers to change as outlined in the risk management plan. This may include developing strategies that will mitigate risks and effectively respond to barriers.
• Identifying barriers, such as lack of employee involvement, ineffective communication, poor planning, or unknown current or future state of the organisation
• Managing barriers identified in the risk assessment, stakeholder analysis and change management plan
• Arranging for counselling and HR involvement where necessary, such as in relation to a redundancy or redeployment
• Providing recognition and rewards to promote a sense of achievement
• Dealing with conflict and negotiating for a win–win situation
• Undertaking appropriate mitigation strategies, such as having a meeting with stakeholders or implementing a recognition and reward system
E. Begin the change management process:
1. Implement the interventions and activities as set out in the project plan.
a. Team-building exercises
b. intergroup development
c. process consultation
d. surveys
e. job redesign
f. training and development
g. sensitivity training
h. career planning
2. Carry out the strategies for embedding the change.
• Implementing new policies and procedures
• Putting controls in place to reinforce new behaviours, attitudes and practices
F. Prepare for the evaluation and review of the plan to achieve objectives and modify the plan where appropriate. This may include conducting a gap analysis and distributing an evaluation form to stakeholders.
• Undertaking a gap analysis
Assessment Task-2. Role Play/PPT
Assessment Task-3. Written Test
1. Explain the three major stages in the change management process.
• Identifying opportunities and requirements of the change, which includes discussing internal and external needs for the change, requirements the organisation has for the change, and prioritising the change needs.
• Developing a change management strategy and plan, which involves:
? analysing costs, risks and potential barriers
? developing the plan document
? assigning resources so implementation can begin.
• Implementing and evaluating the change, including communicating why the change was needed to lessen resistance to it, ensuring change becomes embedded and monitoring the plan.
2. Identify and explain five of the steps used in a communication strategy when communicating and embedding change.
Please explain any 5 points given below:
• Articulate the strategy, with the aim to educate stakeholders regarding why the change needs to occur, benefits, and potential barriers to the change.
• Identify stakeholder audiences by consulting impact, readiness, risk, activity and assignment analyses. Stakeholders should also be analysed to identify what needs to be done to manage resistance.
• Conduct stakeholder analysis to analyse the power, interest and impact of different stakeholders.
• Analyse and group stakeholders into ‘those to manage’, ‘those to satisfy’, ‘those to inform’ and ‘those to monitor’.
• Determine audience needs by considering what the audience already knows, what the audience needs to know, what training is available, who needs written progress reports, effective methods of communication, the accessibility of information, and whether there are any particular needs or disabilities to be aware of.
• Determine communication and consultation methods by taking note of which group the stakeholders are in and communicating accordingly; for example, regular, personal contact with those in the ‘manage closely’ group
• Ensure managers become change agents by training them to develop change action plans specific to their areas, implementing organisational strategies to manage barriers, or setting up coaching and mentoring initiatives.
• Document actions by assigning responsibilities for carrying out and reporting communications activities.
3. Explain how organisational behaviour impacts change strategies
4. Explain five ways the external environmental can impact change strategies.
5. Describe two components of a change management project plan.
6. List four examples of barriers to change and four strategies that can be used to address them.
• Providing personal counselling
• Providing recognition and rewards
• Dealing with conflict
• Negotiating for a win–win outcome