Strategic planning in managing business performance involves outlining long-term objectives and aligning resources. Learners will be learning and applying performance supervision and monitoring, along with regularly monitoring, measuring, and reporting on business performance, enabling effective management.
This unit standard is intended for learners who are required to implement and monitor a strategic plan to improve the performance of a new venture. Learners credited with this unit standard will be able to describe the concept of strategic planning in managing business performance, explain the role of the various functional strategies in business performance, apply business performance supervision and monitoring, monitor, measure and report on business performance, identify and rectify performance problems occurring in business.
Course Content
- A description is given of the concept of strategic planning for a new venture
- An explanation is given of the benefits of strategic planning for performance monitoring
- Aspects of a good strategic plan are identified from examples of a new venture
- The relationship between the timing of a strategic plan and performance of a venture is evaluated using examples from a new venture
- An explanation is given of the elements of a strategic plan
- Alternative functional structures are identified within a new venture
- An explanation is given of how key elements operate within each alternative structure
- Reasons for choosing particular organisational structures are described in terms of a particular business venture
- A business performance monitoring tool is selected for use in the new venture
- Supervision practices are evaluated for use in the new venture
- Marketing expenditure is analysed in accordance with the objectives of the new venture
- Business progress is monitored and attributes needing development identified against the project plan
- Qualitative and quantitative performance indicators are considered for a particular new venture
- Financial indicators are measured and reported for a particular new venture
- Customer satisfaction is monitored and reported for a particular new venture
- A variety of reporting lines are explained for a particular new venture
- Report priorities and requirements are described and documented for a particular new venture
- Progress is documented and reported in accordance with established procedures and agreed timeframe and format
- Potential problems are identified, recorded and notified with a view to their resolution
- Symptoms of performance problems are identified and root causes determined
- Appropriate problem-solving methods and techniques are identified, selected and applied to solve the problem
- Performance problems are rectified within set timeframes
- Non-accredited: Short course only
- Duration: 1h 30m
- Delivery: Classroom/Online/Blended
- Access Period: 12 Months
