Hire Australian Assignment Writers to Write your Essay, Dissertation & Other Papers

BSBESB304: Determine resource requirements for new business ventures Assessment Answers

Course: TAFE

Assessment Type: Practical

Many people are interested in starting their own businesses, but often lack the knowledge about what they need to do before doing so. This assessment will help you determine the resource requirements for your new business ventures by assessing where your current skillsets lie and which ones may need work.

In this assessment, you will determine the resource requirements for a new business venture by assessing yourself with a series of statements and then using that information to help you figure out a path forward. The aim of this assessment is to help you become aware of your current skillsets, which ones are relevant for the task, and how to improve on or learn new skills. Most importantly, take your time with this assessment.

An assessment like a final exam, group, or individual can be useful for understanding new strategies. Whether you are in the classroom and working with us at Australia Assignment Help – we will help improve how well-organized law operates now into its future!

Hire experts for (BSBESB304) Determine resource requirements for new business ventures Assessment

In this section, we are describing some tasks. These are:

Assessment Task 1: Establish resource requirements for a new business venture

Planning a new business is a complex task. The first step is to identify the resources needed for the venture, specifically human and financial resources. A feasibility study should be conducted to forecast what will be required of each resource based on different levels of demand. Remember that all cost estimates must be tempered by expectations of supply and demand, as well as any external influences such as weather or regional competition.

Leadership – at least one person with strong decision-making capabilities will need to oversee operations from inception to scale-up

Investors – financial capital from private, family, or government investment funds

Suppliers – materials necessary for production or maintenance

Workers – labor hired by customers or suppliers for either production or maintenance

Facilities – work or living space for workers or customers to provide products and services

Human Resources- the worker with the necessary education, skills, knowledge, and abilities to perform their work responsibility effectively. Prefer ability would-be employees with degrees in relevant fields (i.e. nursing, engineering) because they are likely to be more organized and efficient.

Buy high-quality essays & assignment writing as per particular university, high school or college for Australian student

1. Analyze business profile and consult with required personnel to determine business requirements for resources

A company’s business profile is a business and investment plan and overview. Usually, the document presents the background and history of the company, details about its products or services, its organizational structure, financial data such as sales volume and net income for years accounted for. The last section usually contains information on an upcoming event such as a merger or acquisition. A company’s business profile can be safely called its “business card.”

The next step is to consult with the required personnel in order to determine the business’ requirements for resources. This would include a discussion with: the company’s leadership or CEO, managers of different divisions or departments, engineers, accountants, and other employees who are experts in their field. The purpose of this consultation is to identify what resources will be needed in order to achieve the company’s goals and objectives.

Stuck with a lot of homework assignments and feeling stressed ? Take professional academic assistance & Get 100% Plagiarism free papers

2. Analyze factors impacting type and quantity of required resources

The type and quantity of required resources will be impacted by a number of factors. Some of these factors are the company’s business profile, its location, the availability of suppliers and workers, government regulations, and economic conditions.

For example, a company that manufactures wooden furniture might need to locate in a region where there is an abundance of lumber. If the company decides to locate in a remote area that is not near any lumber mills, it might have to import all its supplies from a foreign country which would increase costs and slow down production.

Environmental factors such as air quality and water safety can also impact required resources. For example, if workers are required to handle hazardous chemicals or pesticides, they would need to be specially trained and clothed in protective gear.

Human resources can also impact factors such as business profile or location. If a company is located in a rural area, the workforce available will most likely consist of inexperienced and uneducated workers which could lead to poor-quality products and services that reflect poorly on the company’s image. If a company is looking to expand rapidly, it might need to outsource some of its work to other countries where the labor costs are lower.

3. Record proposed type and quantity of required resources

After identifying factors influencing the type and quantity of resources needed, it’s time to record the details. This information will be used in future steps when documenting or creating each specific resource.

For example, if a company is located in an area that doesn’t have direct access to lumber mills, then its proposed requirement for wood would be imported wood. If a company is looking to expand rapidly and has identified China as a prime location for outsourcing work, then its proposed requirement for workforce would be Chinese Labor or Outsourced Workforce.

As you can see, there is a lot of work that goes into properly planning for the resources a company will need. By taking the time to consult with the required personnel and analyze all the factors involved, a business can ensure it has everything it needs to be successful.

Stuck with a lot of homework assignments and feeling stressed ? Take professional academic assistance & Get 100% Plagiarism free papers

Assessment Task 2: Source resources required in a new business venture

In order to start a new business, you will need to identify and source the resources required to make it a success. This might include anything from office space and equipment to workers and supplies.

To get started, you will need to consult with the company’s leadership or CEO, managers of different divisions or departments, engineers, accountants, and other employees who are experts in their field. The purpose of this consultation is to identify what resources will be needed in order to achieve the company’s goals and objectives.

1. Research options for acquiring resources that meet business outcomes

Research resources with resources to acquire the following outcomes:

  1. Market share
  2. Profit margin or
  3. Employee projections (hiring plan) or
  4. Potential impact on customer groups identified in niche marketing analysis.

After consulting with the required personnel, you will need to research resources that can help achieve each of these outcomes. It is important to get input from employees who are familiar with the company’s business profile or industry in order to get a better idea of what resources are available.

For example, if your new venture is an online retail store targeting customers who enjoy the outdoors, you might look for resources such as a warehouse or storage facility near popular outdoor locations where customers tend to be located. If your company’s business profile is focused on serving the healthcare industry and you need more employees than projected, talk to human resources about ways to attract specialized talent that could help the business grow.

Buy high-quality essays & assignment writing as per particular university, high school or college for Australian student

2. Evaluate identified options to determine reliability, risk, cost, and ease of access to service and support

After identifying the resources that are right for your business, you will need to evaluate each option before making a decision. You can do this by comparing all of the options against your company’s goals and discussing them with employees who understand the market profile or industry best.

For example, if you’ve identified two potential warehouse locations that are not too far apart, you might want to evaluate the cost of shipping inventory between the two warehouses. You’ll also want to make sure that both locations have good access to roads and are in close proximity to your main customer base.

You will also need to take into account other factors such as the reliability of the supplier, the risk associated with making a purchase, and the ease of obtaining service and support if something goes wrong. By weighing all of these factors, you can make a more informed decision about which resource is best for your business.

Stuck with a lot of homework assignments and feeling stressed ? Take professional academic assistance & Get 100% Plagiarism free papers

3. Engage with suppliers and other key people to negotiate the supply of resources according to established workplace activities

Once you have identified the resources that your company needs, it is time to start negotiating with suppliers. This process can be complex, so it’s important to have a clear idea of what you are looking for and what you are willing to pay.

You will also want to make sure that the supplier can meet your company’s needs in terms of quality, quantity, price, work schedule, and available hours. Many suppliers offer a variety of services and options including customization or special payment plans.

When negotiating with suppliers for resources, it is important to develop a relationship with the supplier in order to get the best deal possible. You will also need to consider the customer service that you can expect from the supplier. If the supplier offers high-quality service, you can rest assured that your business will be taken seriously.

4. Select and document resources to be acquired and seek approval

After evaluating all of the potential resources, it is time to make a decision and select the ones that are best for your business. It is important to document this selection process so that everyone involved understands the reasoning behind the decision.

You will also need to seek approval from management before making any purchases. This is to ensure that everyone is on board with the resources you have selected and understands why it was important to go with a certain option.

Stuck with a lot of homework assignments and feeling stressed ? Take professional academic assistance & Get 100% Plagiarism free papers

Assessment Task 3: Prepare for use of selected resources in a new business venture

There’s a lot of great resources that can help entrepreneurs with their business venture:

  1. CommonMistakes.com is a site dedicated to helping new and current entrepreneurs avoid common pitfalls and financial issues in their businesses, including not planning ahead financially or structuring agreements improperly, or forgetting to document goals and activities.
  2. QuickBooks has some tutorials for startups so they know how to use the system they’re most likely going to be using as well as various other areas such as finding the right credit card merchant account for them so they know what kind of options they have when it comes time to pay for expenses through their company, keeping track of payroll taxes and benefits, keeping track of inventory levels and more! The website also has a blog and other resources for small businesses.
  3. SCORE is a nonprofit association dedicated to helping small businesses get off the ground, grow and achieve their goals through mentorship and education from experienced business professionals. SCORE also has a wealth of resources on its website, including webinars, articles, templates, and more.

Buy high-quality essays & assignment writing as per particular university, high school or college for Australian student

1. Obtain or design procedures and systems for effective and efficient introduction and use of selected resources

Once you have chosen the resources that your business will need, it is time to make sure you are ready for them. You will want to train employees on how to properly use the resource and document all policies related to its use.

It is also important to develop procedures for introducing new employees to each of these resources so that everyone stays up-to-date on their use. Having a clear system in place will help ensure that your business runs smoothly and that everyone is using the resources they need to be successful.

2. Ensure procedures are in place to monitor resource use and maintain, repair, and replace resources

Every business needs to make sure that they are checking in on the resources and making sure that they are using them efficiently and effectively. This will mean following up with employees and having a system in place in order to make sure everyone is putting in the effort to use these resources properly. It also means monitoring employee performance based on how well they utilize these resources. If someone is not using them correctly, you will need to determine whether they should stay with the company, be retrained, or be replaced.

Stuck with a lot of homework assignments and feeling stressed ? Take professional academic assistance & Get 100% Plagiarism free papers

Pay for (BSBESB304) Determine resource requirements for new business ventures Assessment Answers

If you need help with assignment writing from Australia Assignment Help experts. Then don’t worry, we are here. We have various writers and experts available to complete any type of academic task, including essays or research papers. Our essay writing services can provide you with plagiarism-free or unique content.

You may benefit from our law assignment help Australia by hiring a custom writer to complete your academic papers. Use the website’s live chat support function to get in touch with an expert at any time. You also ask our author to do my online exam for me Australia before the deadline. So order now!

Private and Confidential

Yours all information is private and confidential; it is not shared with any other party. So, no one will know that you have taken help for your Academic paper from us.