BSBOPS601 - Develop and implement business plans

BUSINESS REVIEW REPORT

Learner Name

Workplace/Organisation bounce fitness

State/Territory Australia

Date Completed

1. Variance analysis

 For at least four performance measures, compare the actual performance data with the
performance measure targets in the business plan
 Calculate variances between the performance measure targets and actual performance data

Performance Performance Actual Absolute Percentage

measure measure target performance data variance a variance b

Monthly Revenue target 1 actual 1 Actual 1 - Actual 1 /

Growth Target 1 Target 1) – 1

Customer target 2 actual 2 Actual 2 - (Actual 2 /

Retention Rate Target 2 Target 2) – 1

Average target 3 actual 3 Actual 3 - (Actual 3 /

Membership Sign- Target 3 Target 3) – 1
up Rate

Employee target 4 actual 4 Actual 4 - (Actual 4 -

Satisfaction Index Target 4 Target 4

Add more rows as necessary

a. Absolute variance = Actual performance data – Performance measure target

b. Percentage variance = (Actual performance data / Performance measure target) – 1

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 BSBOPS601 - Develop and implement business plans

2. Root cause analysis for variances

Select at least two performance measures from the variance analysis in section 1 with the highest variances.
Identify one or more root causes for the variances selected.

Performance measure with

Root cause(s) for variance
significant variance

Monthly Revenue Seasonal variations in gym attendance and membership signups

may be responsible for the substantial monthly revenue volatility.
Revenue may increase during some months, such as January when
people make New Year's resolutions, but it may decline during other
months because of things like vacations and holidays.

Customer Retention The variance in customer retention rate may be linked to the
Rate effectiveness of customer engagement and service quality. High retention
may result from excellent customer service and engagement programs,
while low retention may indicate issues like dissatisfaction or lack of
effective retention strategies.

Add more rows as necessary

3. Strengths and weaknesses of the business plan

Based on the Implementation and Monitoring Report from Workplace Project Task 5, variance analysis from
section 1 and root cause analysis from section 2, assess the strengths (at least two) and weaknesses (at least
two) of the business plan

Strengths Weaknesses

At least two At least two

i. Effective Data Use: The thorough i. Seasonal Revenue Variations: The

variance analysis and root cause analyses plan's limited capacity to address seasonal
show that the business plan has a solid revenue swings, which can result in uneven
grasp of data analysis. This data-driven financial performance and cash flow issues,
strategy enables rational decision-making. is one of its weaknesses.

ii. Clear Performance metrics: To ii. Customer Retention plan: The

facilitate accountability and monitoring, the
plan includes clear performance metrics
and targets. This transparency makes it
easier to evaluate the organization's
development.
requirement for a more effective customer
retention plan is another area of weakness.
The plan lacks clear strategies to increase
client retention rates even though the
causes of retention differences have been
identified.

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 BSBOPS601 - Develop and implement business plans

Business Review Report Template Version 1.0 Produced 29 December 2020

© Precision Group (Australia) Page 3
 BSBOPS601 - Develop and implement business plans

4. Review of performance measures identified in the variance analysis in section 1, and refining at least
one performance measure

Review of performance measures based on the analyses from the above sections. At least one of the
performance measures must be refined based on the review

Review of the performance measure

Is the performance measure: Action to be taken to
Performance
refine
measure
Simple? a Relevant? b Actionable? c Retain / Delete / Amend
Yes / No Yes / No Yes / No

Monthly yes yes yes retain

Revenue
Growth

Customer yes yes yes delete

Retention Rate

Average yes no yes retain

Membership
Sign-up Rate

Employee yes yes yes retain

Satisfaction
Index

Add more rows as necessary

a. Simple: Easy to understand, use and analyse

b. Relevant: Relevant to measuring actual business performance

c. Actionable: Possible to diagnose the cause for unfavourable variance and act on the reason for
underperformance using the performance measure

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 BSBOPS601 - Develop and implement business plans

5. Processes for ongoing review of business performance

Outline processes for ongoing review of business performance against business plan

 The team meets frequently to discuss changes and progress.

 Financial and operational reports every month.

 With important stakeholders, every quarter.

 Methods for ongoing customer and employee input.

 External audits to verify compliance on a regular basis.

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 BSBOPS601 - Develop and implement business plans

6. Sources of information and documents accessed to prepare the business plan

List the sources of information and documents accessed to prepare the report (e.g. Organisational and
workplace policies and procedures)

 Workplace regulations and organizational policies.

 Documents for a business strategy.
 Report on implementation and monitoring.
 Financial statements and performance information.
 Market analysis and studies on industry benchmarking.
 Audit reports, both internal and external.

END OF BUSINESS REVIEW REPORT TEMPLATE

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