Course Content
Establish a business plan
This topic covers creating a business plan by considering organisational and legal frameworks, market requirements, business goals, competitors, and resource needs, with input from stakeholders
Implementing a business plan
This topic involves executing a business plan by communicating it to stakeholders, ensuring skilled labor availability, testing and refining performance measures, generating reports, and promptly reporting any failures or variances.
Responding to performance data
This topic focuses on responding to performance data by analysing reports, refining performance indicators, coaching underperforming staff, and establishing continuous review processes for improvement
BSBOPS601 Develop and implement business plans
About Lesson

A business plan is a documented set of business goals, objectives, target market information and financial forecasts. The business plan is usually relevant to a specific period of time such as one or two years.

Preparation of a business plan is particularly important when establishing a business, although it should also be regularly reviewed and updated as required.

How do you lay a foundation for success? By creating an effective business plan – it should come together like a blueprint, providing clarity on all aspects of your business.

A business plan is usually developed to set up a business, whereas a strategic plan is used for implementing and managing the strategic direction of the organisation.

Another type of plan is an operational plan. Operational plans are detailed plans used to provide a clear picture of how a team, section or department will contribute to the achievement of the organisation’s strategic goals.

It is written by taking specific strategies from the company’s strategic plan, and adapting them to short term goals. An operational plan is usually informed and defined by a strategic plan.