BSBTEC601 Assessment Task 2 Templates

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Business

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Nov 24, 2024

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BSBTEC601 Assessment Task 2 Templates Template: Research report: Research report (1500-1800 words) Introduction to the report  Your research topic IHBC Digital Strategy Analysis and Research  Background information To be a successful and sustainable training organization, all training organizations focus on using technology to improve business performance, whether it's creating new services or reshaping current processes. It specifies the direction an organization takes to create new competitive advantages with the technology and tactics to achieve these changes. The training organization has not revised its existing digital strategy in recent years. As a result, the training organization was unable to achieve its strategic goals. In the future, the training organization wants to ensure that its digital strategy is regularly reviewed and updated  Objectives of writing the report The main objective of this report is to assess the existing digital strategy and develop procedures that the IHBC can use to review, develop, and disseminate recommendations related to the IHBC's digital strategy. This contains: 1.Assess the existing digital strategy, determine the main characteristics of the organization's policies and procedures and the objectives that the training organization should integrate into its digital strategy. 2.Analysis of the functioning of the existing training organization and development of methods to review digital strategies. 3.Determine key features of review plans, methods, and criteria that the training institution can use to review its digital strategy. 4.Identify digital strategy information sources to use during the digital strategy review process. evaluate and determine the analysis methods that will be used to evaluate the information on the digital strategy. 5.Develop the format and context of the digital strategy relationship that will be used to present results, results and recommendations of the review of the digital strategy. 6.Evaluate the existing digital strategy and determine the recommendations for common actions to improve the digital strategy based on the evaluation carried out. 7.Determine the methods for the distribution of the final evaluation report Body of the report:  Internal stakeholders consulted to gather information regarding the training organisation’s digital strategy and objectives.

This includes hiring those with expertise in the development and implementation of transformation strategies, partnering with those who can aid in the transition, and both retaining and attracting students with the new value offered by our digital transformation. The internal stakeholders like employees, owners, CEO, managers, customers and clients were consulted through face to face , zoom meeting to gather information regarding the IHBC’s digital strategy and objective  Key features of organisational policies and procedures and objectives that the training organisation must incorporate into their digital strategy. The key features of organisational policies and procedures and objectives that the training organisation must incorporate into their digital strategy are as follows: 1. Set up a website in 3 months 2. Improve website – for example, conversion optimisation, mobile friendly 3. Grow online sales by 12% 4. Rank in position 1 to 3 in Google for 5 target keywords 5. Grow database by 200 subscribers. 6. Build 2 new connections with other businesses a week  Two (2) digital strategy review methodologies. Competitive Analysis A competitive analysis is a method of evaluating a competitor's products, marketing methods and customer relationships. Researching how competitors perform in the market offers insight into which strategies may be the most beneficial to adopt, which approaches to avoid and what the current market trends are. As businesses tend to change and adapt over time, it's useful to analyse competitors regularly. Audit The audit report includes a balance sheet, an income statement, a statement of changes in equity, a cash flow statement, and notes comprising a summary of significant accounting policies and other explanatory notes. The purpose of an audit is to form a view on whether the information presented in the financial report, taken as a whole, reflects the financial position of the organisation at a given date  Steps to implement each digital review strategy. 1Identifying the main objective of the digital transformation project which is setting up a website in 3 months and improving website – for example, conversion optimisation, mobile friendly 2. Beginning of our digital transformation project by properly managing the data—this is critical for effectively supporting the digital transformation, and will rely on the management of our external and internal data sources to help implement our new digital strategies. 3. Creating and using an intuitive data platform through which product and all software as a service are generated then pushed to end customers like application

and adhoc profiling . 4. Considering a thorough revision of our IHBC operations and business models—new professional managing roles will need to be determined. 5.A radical change in core capabilities might be necessary, so it’s necessary to establish and grow partnerships with several types of stakeholders to create support. 6.Employing artificial intelligence to adopt rapid insight and data exploration forour implementation process like cloud computing  A review plan for each review methodology developed in Step 3. The purpose of this type of analysis is to gain a competitive edge in the market and improve our business strategy. Without competitive analysis, it's hard to know what others are doing to attract customers or clients to our target market. We can review each methodology developed in step 3 by Method When How What Person in charge Resources Audit Monthly Consult with stakeholders Meeting Manager Meeting room Competitive analysis Every 2 months Review procedure and policy Brainstorm session Manager Budget  Key features of the review plan for each review methodology. Competitive analysis : It can be done by analysing IHBC strengths and weaknesses. How does our business compare to the competitors we’ve researched? Knowing what sets our business apart from the competition—and where it falls short of expectations. It will include organisational guidelines abut IHBC. 2. Audit: The most important characteristic of audit is that it is a systematic process of expressing a professional opinion about IHBC’s financial condition based on the collection and evaluation of evidence by using project management technologies .  Criteria that the training organisation can use to review its digital strategy. Assess our digital marketing goals. The first step in any good digital marketing strategy assessment is a thorough review of the specific goals we've set for yourself in the past. From the thorough review , we can understand our progress and the areas we need to improve Review of audience profiles. It is important to remember that any good digital marketing plan is based on a set of well-built customer profiles that outline the specific types of people we want to reach through we campaigns. So we will launch a new marketing campaign after we get the

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details of our target audience's demographics, interests, and web activities  Three (3) different sources that the training organisation can use in the digital strategy review process. Internal Sources like Business strategies, internal records, team meetings Business Strategies :An effective business strategy serves as a blueprint for various aspects of running business, from recruiting to organizational structure. When the strategy aligns with the company's long-term vision, it ensures that everyone is working towards the same goals. Team Meetings :Meetings help people feel included, trusted, and that they are important team members. It will help all the team to update on the wor they are doing and the long term goal as a term External Sources like competitors outcome, market trends and developments Market trends: Marketing trends allows us to keep up with the way our consumers shop and research our products and services (and those of our competitors') and stay up to date with changes in consumer behavior and prioritie  Importance of each source of digital strategy information. 1.Internal Sources like Business strategies, internal records, team meetings Business Strategies :An effective business strategy serves as a blueprint for various aspects of running business, from recruiting to organizational structure. When the strategy aligns with the company's long-term vision, it ensures that everyone is working towards the same goals. Team Meetings : Meetings help people feel included, trusted, and that they are important team members. It will help all the team to update on the work they are doing and the long term goal as a term. 2.External Sources like competitors outcome, market trends and developments Market trends: Marketing trends allows us to keep up with the way our consumers shop and research our products and services (and those of our competitors') and stay up to date with changes in consumer behavior and priorities  Three (3) methods of analysis to review information related to digital strategy. Brain storming Take note of similarities Contrast information by setting two things in opposition to show the differences Take note of emerging themes 2. Mind mapping Gather together all relevant information that has been collected Sort information into parts which belong together 3.Determine accuracy, relevance and reliability of information Identify gaps in the information

Relate pieces of information to establish relationships between and among them  Digital strategy report format and context that will be used to present outcomes, findings, and recommendations of the digital strategy review. Step 1: Evaluate existing digital strategy, determine key features of organisational policies and procedures and objectives that the training organisation must incorporate into their digital strategy. Step 2: Analyse the existing training organisation’s operations and develop digital strategy review methodologies. Step 3: Determine the key features of review plans, methodology and criteria that the training organisation can use to review its digital strategy .Step 4: Determine sources of digital strategy information that should be used during the digital strategy review process. Step 5: Assess and determine the methods of analysis that will be used to review information related to digital strategy. Step 6: Develop the digital strategy report format and context that will be used to present outcomes, findings, and recommendations of the digital strategy review. Step 7: Evaluate existing digital strategy and determine the recommendations for common actions to improve digital strategy based on the evaluation conducted. Step 8: Determine methods for disseminating the final review report  Two (2) recommendations for common actions to improve digital strategy based on the evaluation conducted. Better social media presence: It is important to look at the specific types of messages we’re releasing as part of our digital marketing campaigns. Specifically, evaluate: Which types of messages (i.e. text-based status updates, blog posts, videos, podcasts, etc.) are performing best with the audience? Do the words we've chosen for various messaging pieces seem to resonate with our audience? How frequently are our marketing materials being shared virally amongst users? Search engine: There are two ways to use search engines to increase our reach. By organic search or paid search. Organic search results will require us to prepare your website for search engine optimization (SEO) while paid search is done by paying for clicks, also known as Search Engine Marketing (SEM) Many search engine users Search ignore ads and look for organic results, but both methods will get us traffic. Search engines are the most widespread artificial intelligence we use today, and they are getting smarter every day  Three (3) methods to disseminate the final review report. E-mail: We can email your final report to all relevant stakeholders at once. Intranets: We have an intranet which can be used to communicate with everyone in the organization, from senior management to employees. We can use the intranet to distribute the final report. Hard copy: We can make hard copies of our final report and distribute them in the office or mail them

References and bibliography (Harvard style – Any five references) Health.vic.gov.au. 2022. Activity 6.4: Disseminate the final report andcommunicate outcomes. [online] Available at: <https://www.health.vic.gov.au/allied-health-workforce/activity-64-disseminate-the-final- report-and-communicate-outcomes> [Accessed 24September 2022] Ihbc.instructure.com. 2022. Log In to Canvas. [online] Available at:<https://ihbc.instructure.com/courses/1787/pages/learning-material-bsbtec601- review-organisational-digital-strategy?module_item_id=16674>[Accessed 24 September 2022] business, S., generator, B., maker, L., name, D., photography, S., sell, P.,themes, S., everywhere, S., Overview, P., Instagram, F., Marketplace, W.,business, M., marketing, E., automation, M., groups, C., chat, B., Ads, F.,everything, M., Pay, S., Protection, F., automation, E., in, L., Center, H., Blog,M., Blog, R., Blog, E., Courses, B., Community, S., tools, F., encyclopedia, B.,Events, C., in, L., Articles, L., Business, S., Plan, W., Demand, P., Podcast, S.,Marketing, A. and Software, F., 2022. How To Do a Competitive Analysis +Example Template (2022). [online] Shopify. Available at:<https://www.shopify.com/blog/competitive-analysis> [Accessed 24September 2022]. 4. Wa.gov.au. 2022. Digital Strategy for the Western Australian Government2021-2025. [online] Available at:<https://www.wa.gov.au/government/publications/digital-strategy-the-western- australian-government-2021-2025> [Accessed 24 September 2022]. 5. Business.qld.gov.au. 2022. Create a digital strategy for your business | Business Queensland. [online] Available at:<https://www.business.qld.gov.au/running-business/digital-business/digital-strategy> [Accessed 24 September 2022].

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