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School

Melbourne Institute of Business & Technology *

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BSBLDR803

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Management

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Jan 9, 2024

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docx

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Uploaded by UltraHippopotamusMaster440

Assessment Notes – BSBSTR602 Develop organizational strategies Please remember that copy pasting is strictly forbidden. Please use your own words when referring to this document for assessments. Contents Assessment Task 1: Knowledge Test .................................................................................................... 2 Question 1 ......................................................................................................................................... 2 Question 2 ......................................................................................................................................... 2 Question 3 ......................................................................................................................................... 3 Question 4 ......................................................................................................................................... 3 Question 5 ......................................................................................................................................... 4 Question 6 ......................................................................................................................................... 4 Question 7 ......................................................................................................................................... 5 Question 8 ......................................................................................................................................... 5 Question 9 ......................................................................................................................................... 6 Question 10 ....................................................................................................................................... 7 Question 11 ....................................................................................................................................... 7 Question 12 ....................................................................................................................................... 8 Assessment Task 2 ................................................................................................................................ 8 Activity 1 ........................................................................................................................................... 8 Activity 2 ........................................................................................................................................... 9 Activity 3 ........................................................................................................................................... 9 Activity 4 ......................................................................................................................................... 11 Activity 5 ......................................................................................................................................... 11

Assessment Task 1: Knowledge Test Question 1 Student guide: To pass the question, your answer must include the following:  The legislation and regulations relevant organisation’s strategic plan for selling products and services.  The purpose of codes of practice relevant to the organisation’s strategic plan. Refer to the learner guide and/or class PPT slides if you’re unsure how to answer this question. Example (you must elaborate more): 1.1  Competition laws  Consumer laws  Product liability regulation  Environmental legislation  Privacy laws 1.2 Codes of practice are referenced in Acts and Regulations. They may include:  general statements of principle and practical advice for how a business or industry should operate Question 2 Student guide: To pass the question, your answer must include the following:  The purpose of the organisation’s mission and vision statement.  Definition of strategic direction and its purpose Refer to the learner guide and/or class PPT slides if you’re unsure how to answer this question. Example (you must elaborate further): 2.1  An organisation’s mission statement is primarily their statement of their organisational purpose  A vision statement should offer more of a direction and include a perspective of the organisation’s values. 2.2

 “Strategic direction” refers to the actions taken to achieve the goals of an organisational strategy  With the strategic direction the organisation knows; o What are its objectives, o How will they be accomplished, o What resources are required, o How the organisation must work. Question 3 Student guide: To pass the question, your answer must include the following:  Definition of capability assessment and its purpose.  Essential elements of different methods for conducting capability assessment Refer to the learner guide and/or class PPT slides if you’re unsure how to answer this question. Example (you must elaborate further): 3.1  Capability assessments can provide a conceptual framework as well as a practical, evidence- based, analytical tool. 3.2  People  Business practices  Facilities and equipment  Information and communication technologies (ICT)  Knowledge  Accountability and governance Question 4 Student guide: To pass the question, your answer must include the following:  The process of conducting a SWOT analysis to identify the organisation’s strengths, weaknesses, opportunities and threats. Refer to the learner guide and/or class PPT slides if you’re unsure how to answer this question. Example (you must elaborate further):  Decide on the objective of your SWOT analysis  Research your business, industry and market

 List your business’s strengths  . List your business’s weaknesses  List potential opportunities for your business  List potential threats to your business  Establish priorities from the SWOT  Develop a strategy to address issues in the SWOT Question 5 Student guide: To pass the question, your answer must include the following:  Conducting a competitor analysis to identify the strengths and weaknesses of existing and potential competitor. Refer to the learner guide and/or class PPT slides if you’re unsure how to answer this question. Example (you must elaborate further):  Step 1: Identify your existing and potential competitors  Step 2: Gather information about your existing and potential competitors  Step 3: Analyse the competition’s strengths and weaknesses  Step 4: Identify your competitive advantage Question 6 Student guide: To pass the question, your answer must include the following:  The purpose and key features of cooperative ventures.  The risks associated with a cooperative venture Refer to the learner guide and/or class PPT slides if you’re unsure how to answer this question. Example (you must elaborate further): 6.1  A cooperative venture is a common way of combining the resources and expertise of two otherwise unrelated businesses  E.g. key feature: This type of partnership usually offers significant advantages, but it can also be highly complex, leading to an organisation’s specific risks. 6.2

 You may have problems arise when: o E.g. The objectives of the venture are not clear and communicated to everyone involved Question 7 Student guide: To pass the question, your answer must include the following:  Definition of cost-benefit analysis  Different costs involved in cost-benefit analysis  Explanation of the methods of cost-benefit analysis given in the question Refer to the learner guide and/or class PPT slides if you’re unsure how to answer this question. Example (you must elaborate further): 7.1  Cost-benefit analysis (CBA) is a technique used to compare the total costs of a programme/project with its benefits, using a common metric (most commonly monetary units).  Direct costs would be direct labour involved in manufacturing, inventory, raw materials, manufacturing expenses. 7.2  Return on investment (ROI) is a financial metric that is widely used to measure the probability of gaining a return from an investment.  Net present value (NPV) is the difference between the present value of cash inflows and the present value of cash outflows over a period of time. Question 8 Student guide: To pass the question, your answer must include the following:  Purpose of the due diligence process.  Key features of due diligence processes given in question. Refer to the learner guide and/or class PPT slides if you’re unsure how to answer this question. Example (you must elaborate further): 8.1

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