XYZ Company Operational Plan

BSBMGT608 Manage innovation and continuous improvement
Assessment Resources – Appendices – BSBMGT608 Manage innovation and continuous improvement
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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K
Appendix 1 – XYZ Company Operational Plan
Overview
XYZ Company specialises in a range of exclusive services including running telecentres that range from
order taking services to market surveys. The business provides its customers with high quality and
innovative products and services. Wherever possible we provide our customers with a ‘green’ solution
and service. We employ sustainable business practices.
Mission
XYZ Company is committed to:
● providing high quality and innovative products and services to customers
● meeting the changing needs of customers
● offering innovative product solutions
● delivering speedy and personalised service
● employing professional and enthusiastic staff
● providing clean and ‘green’ products and services
● adopting sustainable work practices
● undertaking continuous improvement processes.
Business plan objectives
In 2018–2023 XYZ will consolidate its position in the market as a lead telecentre for green and
sustainable solutions for high quality exclusive products/services.
To do this, XYZ will focus on the following business goals:
● Financial stability:
o Increase revenue by 15% (compared to the previous 12 months) by the end of
the financial year
o Maintain annual profit levels of 15% of revenue for all products and services,
calculated at the end of each financial year
o Reinvest 75% of profit back into the business at the end of each financial year
● Market position:
o Maintain the number one rating in the annual national industry customer
service awards
o Launch new high quality exclusive consumer services to meet customer
demand, ahead of competitors, within budget and by the agreed deadlines
● Right people:
o Provide induction training at the commencement of employment to train new
employees to be knowledgeable, helpful and enthusiastic
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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K
Provide the financial, physical, human and time resources to support an annual professional
development program for all XYZ employees
Consultation Strategy

Stakeholder	Role in the issue	Objective	Consultation method
Senior management team	Made the decision to increase sales by 15% annually	Keep informed	Feedback session Email communications Newsletters Web-conferencing
Outlet Manager	Develop an operational plan and implement the plan to increase sales in their outlet	Implement plan Consult	Staff meetings Outlet manager meetings via web-conferencing interviews
Sales staff	Implementers of the plan to achieve the intended results	Consult Keep motivated and engaged	Meetings Feedback sessions
Major customers	Regular customers who make major purchases of XYZ products/services	Consult	Phone calls Personal visits Email communication Newsletters
Customers	People who make small purchases of XYZ products/services	Obtain feedback	Email communication Newsletters
Market analysts	Consultants who provide market insights about XYZ products/services	Consult	Focus group meetings
Recruitment agencies	Involved in recruiting staff	Consult	Meetings

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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K
Operational Action Plan (July – September)

tivity What is to be ne?)	Objective (Why will we do it?)	Resources (Where will it be done?)	Procedures (How will it be done?)	Responsible person (Who will do it?)	When?	Budget	KPI
evisit sales dgets and velop outlet-by tlet sales ategies that add to the national les strategy	To increase the sales of the services component of the business by 15% by 30 June	It will be done across all outlets.	Update each outlet’s sales budgets to reflect the increased targets. Each outlet is to develop a sales strategy to support the new targets.	Outlet managers	30 June	$3,000,000 total and needs to be supported by a business case from each store	Retail sales o business increased by 15% by the en of the financia year
quire additional sources – web nferencing uipment	To facilitate communicatio n between all outlets and reduce travel time and costs	Install a multi channel dedicated web-conferencing facility at each outlet	Conduct XYZ IT service and support to arrange for supply and installation Allocate costs back to each outlet	Outlet managers	31 August	$5,000 per outlet	All web conferencing equipment installed by 31 August
quire additional sources – livery van	To provide a delivery service and provide brand recognition	Purchase a new van for each outlet and detail it with the marketing logo.	Contact suppliers, obtain quotes and purchase the required delivery van Contact signwriters to have marketing decals attached to the vans	Head office marketing manager	31 July	$50,000 per outlet	Delivery van purchased an decals attache by 31 July
eorganise fixtures d fittings – retail tlet	To create additional space for installation of demonstration products	It will be done across all retail outlets.	Have plans drawn up for each retail outlet Hire local shop fitters and installers for each sales region	Head office sales manager Retail outlet managers	30 September	$10,000 per outlet	All stores to b operational wi current XYZ range of products/serv es by 30 September
ain sales staff to ovide after sales oduct/services pport	To multi-skill product/servic e staff and to improve the level of after sales product/servic e support	It will be done across all outlets	Deliver training programs	Outlet managers	31 August	In house Additional resource available but a business case is required	All existing product/servic staff training in multi-skilling completed by 31 August
aintain full staffing pacity through pid recruitment to vacancies	To maintain and increase sales capacity by recruiting new staff as	13 new full- time sales staff will replace staff vacancies in three outlet stores	XYZ recruitment procedures	Outlet managers	Maintain full staffing capacity through rapid	To maintain and increase sales capacity by recruiting new staff as soon as	13 new full time sales sta will replace st vacancies in

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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K

soon as existing positions are vacated

recruitment to fill vacancies.

existing positions are vacated

three outlet stores.

Risk
The timely recruitment and training of new staff is a key success factor in meeting the strategic
objectives of the business plan. In order to meet the objectives it is necessary to have recruited the new
staff and upskilled our current staff in after sales product support by 31 August. In the event that we do
not meet these objectives, we have budgeted an additional 5% of training costs to employ a training
consultant to provide additional training resources.
It is critical that our outlet managers monitor the progress of their operational plans against the target
KPIs established. To that end, it is essential to review the operational plan monthly.
Approvals

Name	Position	Date approved	Signature
Mike Smith	Chief Executive Officer	15 June
Mary Johns	Managing Director Business operations	15 June

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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K
Appendix 2 – XYZ Company Risk Management Policy
Scope
This policy describes our commitment to meeting strategic and operational goals related to risk
management. It forms part of our commitment to continuous improvement.
Risk management will be reviewed through regular training, monitoring, auditing and reporting
processes.
Framework
This risk management policy is based on the Standard AS/NZS ISO 31000:2009 Risk Management –
Principles and Guidelines.
All business activities must be assessed for risk prior to commencing and managed throughout.
Risk identification, analysis, evaluation and treatment must be reported and updated in the risk register.
Definitions
● A risk is any event that impacts XYZ Company’s ability to meet its goals and
objectives.
● Risk identification is the process of determining what might happen, as well as how,
when and why it might happen in relation to the identified risk.
● Risk analysis is a process that helps people in the organisation understand the effect
of the risk on organisational goals and objectives.
● Risk evaluation involves comparing risks and determining the order in which they
should be dealt with.
● Risk treatment is the process of applying measures to minimise, modify or eliminate
the risk.
Responsibilities
The risk management policy committee oversees risk management and implementation on behalf of the
board and the chief executive officer.
This committee is responsible for:
● ensuring XYZ Company is complying with any legal requirements
● ensuring risks are managed effectively
● maintaining business operations
● identifying significant operational risks
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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
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RTO Code: 45352 | CRICOS Code: 03683K
● monitoring the management of strategic and operational risks
● directing risk management processes
● receiving and analysing risk management reports and informing the Board
● making recommendations to the Board regarding risk management.
The managing directors are responsible for:
● making recommendations to the committee on risk management policies and
procedures
● reviewing risk management incidents as they occur
● providing support and advice to the committee on risk management issues affecting
their areas in relation to identifying, analysing, evaluating and treating risks
● establishing and administering a risk register
● implementing risk management training.
Management is responsible for ensuring risk management principles are applied.
All employees are responsible for applying risk management principles and practices in their work areas.
Employees must also report risks and participate in risk management training.
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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K
Appendix 3 – XYZ Company Risk Management Procedures
Purpose and scope
In accordance with the XYZ Company Enterprises risk management policy, these procedures describe the
organisation’s standard process for risk management, including:
● risk identification
● risk rating
● risk controls
● risk monitoring and reporting.
A standard approach to risk management allows risks to be correctly prioritised across all XYZ
Company’s operations.
Responsibilities
The risk management policy committee oversees risk management and implementation on behalf of the
board and the chief executive officer.
All XYZ Company employees are responsible for applying risk management principles and practices in
their work areas. Management is responsible for ensuring risk management principles are applied.
Employees must report risks and participate in risk management training.
Risk management process
A risk to XYZ Company is any event or action that could have a negative impact on the organisation. This
includes events that could lead to:
● death or injury
● financial loss to XYZ Company
● damage to XYZ Company’s reputation, including adverse media coverage
● damage to the physical environment, including land, water and air quality
● failure to meet regulatory or legislative requirements.
The risk management policy specifies that:
● all business activities must undergo risk assessment prior to commencing, and
undergo risk management throughout their operation
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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
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● risk identification, analysis, evaluation and treatment must be reported and recorded
in the risk register.
Risk identification
Risk identification is a structured approach to identifying possible events that could have a negative
impact on the organisation.
Risk rating
Risk rating is the process used to analyse and understand each of the risks, including understanding
what causes the risk to occur and what controls are already in place to manage the risk. Risk assessment
also determines:
● how severe a potential impact could be
● the likelihood of the organisation being negatively impacted in this way.
Once the potential impact and likelihood have been assessed, the risk assessment process considers
whether the risk is acceptable, or whether further treatments are required to reduce the level of risk.
All identified risks are assessed to determine the overall risk ranking. Risks are ranked in the following
four categories:
● Extreme
● High
● Medium
● Low
The risk ranking determines:
● the nature of further action that is required
● the urgency with which further action should be taken
● the reporting requirements for the risk, including who the risk is reported to
● how the risk is monitored.
A common approach to risk ranking is necessary to ensure that the greatest risks to XYZ Company can be
readily identified, and risk management can be prioritised in a way that has the greatest overall benefit
to the organisation.
The following tables show how the consequences and likelihood of risks are assessed.
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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K
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nsequence	Impact
1. Insignificant	2. Minor	3. Moderate	4. Major	5. Catastrophic
<$5k	$5k–$10k	$10k–$100k	$100k–$300k	>$300k
on/market on	Isolated complaints from individuals; minor local media coverage	Adverse capital city/state media coverage; ongoing complaints	Loss of market opportunity or some loss of reputation; adverse national media attention	Reputation damage or loss of opportunity that has a major impact on operations	Will impact future business operations in catastrophic w continuous public criticism
ry and e	Minor breaches by individual staff members	Organisational breach	Penalties for breach of legislation; third-party claims	Major fines for breaches; multiple third-party claims	Severe fines and/or prison sentences
mental	Brief spill incident contained onsite with no environmental harm	Minor onsite spill incident; pollutant contained and cleaned up immediately	Release of pollutant or environmental incident; moderate environmental harm	Large spill or environmental incident and significant associated cost	Long-term environmental d with ongoing liabilities and possible closure for undiscl period
Treated with first aid	Medical attention required	Hospital treatment and ongoing rehabilitation required	Hospital treatment and possible serious permanent injury	Loss of life

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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K
Likelihood
Likelihood is based on the number of times within a specified period that a consequence may occur as a
result of a risk.

Likelihood	Description	Probability
A. Expected	Expected to occur in most circumstances	>80%
B. Probable	Will probably occur in most circumstances	50%–80%
C. Possible	Might occur within 1–2 years	21%–49%
D. Improbable	Could occur during a specified time period	5%–20%
E. Rare	May only occur in exceptional circumstances	<5%

The risk rating is determined by combining the consequence and likelihood, as shown in the following
table.

Level of likelihood	Level of impact
1 (Insignificant)	2 (Minor)	3 (Moderate)	4 (Major)	5 (Catastrophic)
A (Expected)	Medium	Medium	High	Extreme	Extreme
B (Probable)	Medium	Medium	Medium	High	Extreme
C (Possible)	Low	Medium	Medium	High	High
D (Improbable)	Low	Low	Medium	Medium	High
E (Rare)	Low	Low	Low	Medium	Medium

Risk controls
Controls represent a whole range of actions, measures and strategies taken by management and
employees to eliminate or reduce risks. The process of determining risk controls includes assessing the
consequences and likelihood of the risk, and evaluating risk treatment options. This could include:
● avoiding the risk
● mitigating the risk
● transferring the risk
● accepting the risk.
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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K
A process should then be followed to identify efficient and effective ways to mitigate the risk. This can
occur by:
● removing the risk
● reducing the likelihood of the risk impacting the business
● reducing the consequences if the risk were to occur.
When determining risk treatment options, consider the hierarchy of control, which ranks the level of
control from most to least effective:
1. Elimination
2. Substitution
3. Isolation
4. Engineering controls
5. Administrative controls
6. Personal protective equipment
Risk monitoring and reporting
Risk monitoring and reporting involves regular review to ensure that:
● new risks are identified and considered as they arise
● existing risks are monitored to identify any changes that may impact the
organisation
● new risk controls are implemented
● existing risk controls are in place and working effectively
● information about risks is adequately communicated.
All risks that are rated as moderate, significant or high in the risk assessment process will be regularly
reviewed by the risk management policy committee. This review may be conducted in the following
ways:
● The risk manager will report on new risks identified by staff during the course of
their work since the last committee meeting.
● Risk owners will provide a report on the status of their assigned risk to the
committee.
● The risk manager will report on risk register reviews following a structured risk
identification workshop each year, or any review of the risk register.
The reports to the committee should outline that risk controls are to indicate:
● the causes of the risk
● the implication of the risk with amendment to existing controls (if they exist)
● what any existing mitigating controls are
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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
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● what actions are being undertaken to put further controls in place, or maintain
existing controls, and by when
● who is responsible for ensuring controls are in place.
Appendix 4 – XYZ Company Sales Report
This sales report provides real-time data and information on XYZ Company’s sales performance from
July to November.
The following tables show:
● the income statement
● a breakdown of revenue provided by each sales channel
● performance statistics for sales generated through eCommerce – specifically
through XYZ Company’s website and online shopping
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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K
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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
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Income statement (profit and loss YTD)

July	August	September	October	Month to date
Actual	Budget	Actual	Budget	Actual	Budget	Actual	Budget	Actual	Budge
Total income (sales)	11,023,000	11,200,000	12,054,800	16,000,000	10,555,700	16,000,000	10,573,800	18,000,000	9,456,700	12,000,
Operating expenses
Payments to suppliers	5,923,000	6,160,000	6,125,000	8,800,000	5,547,000	8,800,000	6,895,200	9,900,000	5,230,000	6,600,
Rent	3,398,000	3,200,000	3,800,000	4,000,000	3,800,000	4,000,000	3,950,000	4,000,000	2,900,000	3,000,
Salaries and on costs	205,800	150,000	321,400	150,000	470,000	150,000	465,000	150,000	314,600	100,
Marketing costs	64,000	50,000	64,200	50,000	68,500	50,000	68,000	50,000	42,700	35,
Travel and accommodation	25,900	25,000	25,800	25,000	24,300	25,000	21,000	25,000	16,000	17,
IT and communication	22,000	24,000	23,100	24,000	23,900	24,000	23,500	24,000	16,000	16,
Administration	24,800	19,500	26,100	19,500	15,000	19,500	17,500	19,500	15,000	13,
Consumables	18,900	15,000	13,600	15,000	17,200	15,000	23,000	15,000	10,700	10,
Staff-related expenses	401,900	403,000	402,000	403,000	402,000	403,000	402,000	403,000	265,000	265,
Depreciation	10,048	10,075	10,050	10,075	10,050	10,075	10,050	10,075	6,625	6,
Total operating expenses	10,094,348	10,056,575	10,811,250	13,496,575	10,377,950	13,496,575	11,875,250	14,596,575	8,816,625	10,063,
Earnings before interest and tax (EBIT)	928,653	1,143,425	1,243,550	2,503,425	177,750	2,503,425	(1,301,450)	3,403,425	640,075	1,936,

Sales channel breakdown

As
July	August	September	October	Month to date
Actual	Budget	Actual	Budget	Actual	Budget	Actual	Budget	Actual	Budget

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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
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Sales channels
Retail stores	$5,500,220	$7,580,000	$5,109,800	$8,600,000	$5,670,000	$9,000,000	$6,433,700	$9,500,000	$5,576,200	$9,240,000
Wholesale division	$1,350,000	$2,000,000	$1,470,000	$2,000,000	$1,007,650	$2,000,000	$1,265,000	$2,600,000	$984,000	$2,380,000
Website sales	$2,340,000	$700,000	$3,549,000	$700,000	$1,750,000	$760,000	$520,000	$800,000	$230,000	$700,000
eCommerce resellers	$650,000	$700,000	$820,000	$700,000	$790,000	$760,000	$760,000	$800,000	$780,000	$700,000
Outbound sales	$452,380	$700,000	$372,000	$700,000	$328,000	$760,000	$680,000	$800,000	$560,000	$700,000
TV shopping channel (Australia)	$600,000	$700,000	$574,000	$700,000	$780,000	$760,000	$704,560	$800,000	$850,000	$700,000
TV shopping channel (Asia)	$130,400	$700,000	$160,000	$700,000	$230,050	$760,000	$210,540	$800,000	$476,500	$700,000
Total sales	$11,023,000	$11,200,000	$12,054,800	$16,000,000	$10,555,700	$16,000,000	$10,573,800	$18,000,000	$9,456,700	$12,000,000

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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K
eCommerce performance statistics (July–November)

July	August	September	October
Actual	Target	Actual	Target	Actual	Target	Actual
Key performance indicator (KPI)
Total visits to site	939,760	300,000	1,473,289	300,000	1,742,985	300,000	861,048
Page views	4,609,300	1,500,000	6,748,000	1,500,000	8,348,350	1,500,000	4,396,030
New visitors	690,560	200,000	1,130,200	200,000	1,058,230	200,000	264,930
New customers	25,485	6,000	49,285	6,000	17,249	6,000	3,859
Cart abandonment rate	27%	60%	26.5%	60%	89%	70%	86.4
Customer service open cases	14	10	27	10	78	10	135
Average transaction value	$83.50	$75	$72.20	$75	$81.95	$75	$84.57
Facebook ‘likes’	37,430	7,500	47,638	7,500	32,850	7,500	5,953

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Customer feedback
XYZ Company has collected the following feedback from customers in relation to their online shopping
experience.
Reasons why shoppers abandoned their sale at the checkout
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Appendix 5 – Communication plan template
Communication plan

Objective:

Relevant stakeholders managers, clients, teams, etc.)

Required resources location, equipment, etc.)

Method slideshow presentation, video conferencing, etc.)

chedule/delivery date

Relevant policies/procedures

ecurity/confidentiality status

trategy for all team member to provide feedback

Outcomes/follow-up actions

Documentation hand-outs, presentation slides, statistical analysis, etc.)

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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K
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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
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Appendix 6 – PEST analysis template
PEST analysis

Political	Economical
Social	Technological

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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
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Appendix 7 – Risk Management Planning template
Risk management plan

Background:

Context:

Level of access and restrictions:

Reporting requirements:

Risk matrix

Level of likelihood	Level of impact
1 (Insignificant)	2 (Minor)	3 (Moderate)	4 (Major)	5 (Catastrophic)
A (Expected)	Medium	Medium	High	Extreme	Extreme
B (Probable)	Medium	Medium	Medium	High	Extreme
C (Possible)	Low	Medium	Medium	High	High
D (Improbable)	Low	Low	Medium	Medium	High
E (Rare)	Low	Low	Low	Medium	Medium

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V 4.0: May 2020, Approved: QAC, Next Review: December 2020
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Risk evaluation

Priority

Risk

Likelihood

Impact

Level of risk

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Risk action plan

Risk description	Priority	Proposed controls	Actions required to implement controls	Resource requirements	Costs	Responsibilitie s	Schedule
Risk:
Risk:
Risk:
Risk:
Risk:

Record-keeping procedures

Updates	Person responsible	Date
Risk register
Lessons learned register

BSBMGT608 – Manage innovation and continuous improvement
Assessment Resources – Appendices – BSBMGT608 Manage innovation and continuous improvement
| Page 25 of 26
V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K
BSBMGT608 – Manage innovation and continuous improvement
Assessment Resources – Appendices – BSBMGT608 Manage innovation and continuous improvement
| Page 26 of 26
V 4.0: May 2020, Approved: QAC, Next Review: December 2020
International College of Tasmania Pty Ltd trading as: TasCollege
RTO Code: 45352 | CRICOS Code: 03683K
Appendix 8 – Competitor analysis template
Competitor analysis

Our product:	Competitor product:
Features
Benefits
Strengths
Weaknesses
Rating