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BSBFIM601 Grow Management Consultants – Strategic Business Plan 2019-2022 Assessment Answers

 

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Welcome

Welcome to the Business Plan for Grow Management Consultants.

This document sets out our vision for the next three years and how we hope to achieve it.

We hope you enjoy reading this document.

Paul Burns

CEO

Grow Management Consultants

 

Executive Summary

Established in 2010, Grow Management Consultants is a management consultancy company specialising in providing services to companies to assist them to improve the leadership performance of their staff.

Grow Management Consultancy draws on its up to date knowledge and skills in best practice leadership concepts to assist clients with leadership performance.

MissionStatement

Our mission is to assist all of our clients to build a strong group of professionals with a commitment to the company and to meeting the needs of the company’s customers.

Our values are:

 Core values underpinning our activities are:

  • Quality
  • Innovation
  • Respect
  • Reliability

Strategic Priorities

 Key strategies

To be well-led, high performing, profitable and accountable

  • Ensure that all financial operations, performance indicators and results support the strategic policies
  • Identify new and expand existing sources of revenue
  • Achieve profits of at least 10% per annum.

Develop services to meet customer needs and aspirations

  • Increase the range of services offered to include change management and diversity
  • Plan for and establish an annual conference, starting in 2019.
  • Increase range of e-books commencing with Organisational Change e-book to be published during 2020.

Continue building deeper customer relationships

  • Customer-centred practice, with a focus on meeting their total needs for high-quality services
  • Strengthen the skills of our people, to better support customers
  • Drive innovation to better meet customer demands.

Attract, engage and develop the best staff

  • Continuing the drive to a customer centred, high-performance workforce and culture
  • Strengthening the skills of our people, to better support customer needs
  • Empowering innovation and responsiveness to change
  • Continuing to enhance the diversity of our workforce.
  • Employing additional consultants

The Market

The Management Consulting industry has grown weakly over the past five years. Poor demand from downstream markets constrained industry revenue growth, with financial services and resources firms cutting spending on management consultants due to economic uncertainty and falling commodity prices.

However, businesses using management consultants to introduce new business processes and enhance operating efficiencies have partly offset this trend. Industry operators have also increasingly incorporated analytics into their services, which offer clients a greater understanding of their business and clients. Demand for services backed by analytics is expected to have a growth of 3.8% in 2020-21.

Research also shows that there is a need for workers to have strong leadership and management skills to support collaborative management, managing teams for a distance, empowering others and business acumen.  Thus the demand for leadership consultancy services is still strong.

Situation Analysis

Strengths Weaknesses
Ø  Value and quality

Ø  Strong management

Ø  Customer loyalty

Ø  Friendly organisational culture

Ø  Level of available finance for investment

Ø  Brand name not developed as yet

Ø  Small organisation

Opportunities Threats
Ø  Leadership skills in demand

Ø  Opportunities to offer a range of services

Ø  High level of competition

Ø  Economic downturn meaning less spent on consultants

Ø  Failing to satisfy clients demands

Marketing Strategies

Our marketing strategies aim to:

  • build our brand
  • generate leads now
  • help to convert those leads quickly
  • form the basis of ongoing relationships and referral

We plan to develop our market share by:

  • Improving our marketing and advertising
  • Continually improving the quality of service given to clients
  • Maintaining effective communication channels with all stakeholders to ascertain industry requirements and then develop products and manage services accordingly
  • Continually improving communication channels with all our stakeholders, ensuring a flow of timely and accurate information to facilitate effective planning and decision making
  • Targeting identified growth markets with planned, market appropriate campaigns employing a variety of promotional strategies and advertising mediums
  • Offering attractive fee structures to our clients
  • Continually improving the skills, knowledge and effectiveness of Grow Management Consultants through our commitment to training and development
  • Regularly reviewing the effectiveness of all our operations and making improvements when and where necessary

 

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