Human Resources

$9.00

Human Resources

  1. Structure of Business and Ownership

An event management team is formed by a group of people with an aim of organizing and supervising the designing, planning, and management process of Mums in Biz event in Gold Coast. Therefore, the structure for our event is a partnership owned by five people. The event will be managed under partnership business structure because we have not filed papers to become a corporation or a limited liability company (Miles & Snow, 2003). Starting a partnership business is easier and less costly as compared to a limited company and therefore, in order to reduce the cost of operations and the cost of running the business, the event management team will be registered as a partnership. As a partnership, the owners shall pay taxes on the shares of the business income and they shall be personally responsible for the whole amount of any business claims or debt (Laeven & Levine, 2009). Mums in Biz event is owned by five persons namely; Nadine, Michaela, Steph, and Jenny. The owners have equal shares and hence they share the costs and profits equally.

Category:

Description

New Event Business
Part 2: New Venture Business Plan

Instructions:
1. In your same groups of four students, you must draft up a business plan based on the business
proposal that you presented in week 5. You must complete this assignment as a group and
participate equally.
2. Word length: 5,000 words (including appendices).
3. Research: Thorough research is expected. Your research should support the approach you adopt
in your business plan. For example, if your target market is young adults who are 18 to 24 years
old, newspaper advertising might not be the best way to reach that market.
4. Referencing: APA. You must have a reference list at the end of your business plan. Your
reference list is not included in the word count.
5. Format: Report style. Headings, subheadings, numbering, tables, graphs and images are
encouraged to help communicate your ideas.
6. A business plan template developed by the Australian Government has been provided on
Learning@Griffith, together with the guide for its completion. It is an EXAMPLE ONLY and does
not contain all the sections that you will need to include. See below for minimum content
required in the plan.

Due date:
• Presentation slides: 5.00pm on 5 October 2018
• Submit via the online submission point on Learning @Griffith
Weighting: 45%
Note: This is a group assignment. Students will be marked as a group for this assessment item, so
it is important that you contribute equally to the group.

Plan requirements:
1. Executive summary (suggested length is 500 words):
• Business objectives;
• Brief description of the business concept;
• Your guiding values, vision and mission;
• Market potential and target market;
• How you will measure your success;

3207THS Event Business Development
Trimester 2, 2018

• A summary of your start-up approach; and
• Your minimum financing requirement.
2. Marketing:
• Your five-step process including:
i. Your brand narrative
ii. Your target market including customer personas detailing demographic,
geographic, behaviour and psychographic information
iii. Your marketing objectives (ie how you engage with that market?)
iv. Content to be used in advertising
v. How you will monitor advertising success
• Competitor analysis and point of differentiation
• Pricing
• How you will monitor customer satisfaction
• Brand and marketing risk management
3. Financial:
• Your financial goals and objectives
• Your start-up budget
• How you will fund that start up budget
• Commercial viability (P&L, cashflow projections)
• Break-even analysis and return on investment (ROI)
• Financial risk management strategy
Financial performance measurement
4. Operations and sustainability:
• Operational vision
• Key operational activities, location and logistics
• Infrastructure, plant and equipment
• Connection to support services
• Economic, social, environmental and community benefits
• Operational sustainability (energy, water, waste, etc.)
• R&D – event development activities
• Legal and regulatory requirements and insurances
• Suppliers and key stakeholders/relationships
• Customers service
• Operational risk management strategy
5. Human resources:
• Structure of business and its ownership
• HR vision
• Organisational structure and roles of key personnel
• Consultants, sub-contractors and volunteers

3207THS Event Business Development
Trimester 2, 2018

• Legal requirements – appointments, awards, salaries and wages, work cover insurance
and occupational health and safety
• Staff and volunteer training requirements
• Staff performance management, recognition and incentives
• Internal marketing and communication