A30065 Concept Development_Assessment2

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University of Notre Dame *

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FINANCIAL

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Management

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Nov 24, 2024

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Assessment 2 Unit of Competency BSBCRT512 Originate and develop concepts Factors Idea 1 Idea 2: Idea 3: The team suggestion is that we retrench staffs not performing and their sales target. The team proposed the reduction in promotion while increase production. The team suggestion is that we have weekly training on social media marketing promotions. Compare ideas with best practice example s of similar products Retrenchment of Staffs and employees is a common practice hired by many corporations and groups. it always not an smooth assignment for the agencies in that the employers hazard to face disputes, it also reduces morale some of the employees which results to a reduction in productivity. Retrenchment goes similarly to devastate the employee’s existence or at the same time as decreasing merchandising and focusing on production is a possible idea there are different methods in which production can also be improved which include however now not restrained to; creating a advantageous mind-set to the schooling journey is for an a expensive employer especially whilst the employer calls for to educate all the employees. corporations cut the value of education all of the personnel 1 A30065 Concept Development | BSB50620 Diploma of Marketing and Communication | Assessments v1.0 Young Rabbit Pty Ltd (ABN 28 003 381 182) trading as Australian Pacific College RTO Code: 90396 | CRICOS Provider Code: 01331F | © 2022
his/ her family. it's far an widespread exercise for companies that if personnel aren't able to match the talents and overall performance standards of the enterprise they hazard to be retrenched on such cause. Employers are commonly very cautious when making the stairs to retrench an employee or staff as it may end result to ligation and cause the corporation to pay lots of cash to the retrenched employee. Many businesses have in location coverage and procedures to be hired in cases of retrenchment to avoid litigations. There are practices employed by using some agencies as an alternative of retrenching the staffs they demote them for his or her non- performance. The demotion consequences in reduction of profits therefore minimizing the fee of the enterprise 3 employees that they come to be mare committed to what they may be tasked to tackle. nice mindset is everything in enterprise as it defines the commitment of staffs. investing and developing a conducive working condition is likewise another approach that corporations use to boom productiveness. poor operating circumstance results in bad results. 5 and basically rent or supply qualified employees to do advertising and marketing on their behalf. further, other mechanisms involve advertising on structures in an effort to keep the business from incurring a number of costs. 5 Feasibility of implementi ng the solution - Cost and benefit 3 3 4 Suitability for target audience and for purpose 4 4 4 Commercial potential 4 4 5 Total 14 16 18 2 A30065 Concept Development | BSB50620 Diploma of Marketing and Communication | Assessments v1.0 Young Rabbit Pty Ltd (ABN 28 003 381 182) trading as Australian Pacific College RTO Code: 90396 | CRICOS Provider Code: 01331F | © 2022
As per following attached Part B presentation Questio ns Answe rs What are the issues and requirements to commercialise the concept? Determine acceptable down time for each critical function. Create a plan to maintain operations. What are the practical and operational issues to be considered? Lack of Management Support: Providing managers and corporate decision-makers a detailed vulnerability and hazard analyses with concrete financial statistics of their effects may garner some support. Budget Restraints: Because companies are in the business of making a profit, planning and mitigation measures are often compromised for other priorities.
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Date Source of feedback Feedback Action needed 16.06.22 CEO The customer database is too short we need to include more details such as preferences last product purchases etc. Develop a longer customer database 15.06.22 Marketing Manager There are no backup tools available Develop backup options As per following attached Part D presentation