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Boutique Build Australia

Strategic and Operational Plan

2020 - 2022

Boutique Build Australia

Executive Summary

Established in 2017, Boutique Build Australia is a building company specialising in designing and building high quality designer homes for the Sydney metropolitan and surrounding areas.

Our vision to be the best home builder in Australia drives everything we do, from the friendly greeting we give to customers at our display centre, to our supplier relationships and to our employees’ professional development.

Vision

To be the best quality home builder in Australia.

Our values

Core values underpinning our activities are:

  • Quality
  • Innovation
  • Leadership
  • Respect
  • Honesty and Reliability

Strategic Priorities

Key strategies:

To be well led, high performing, profitable and accountable

  • Ensure that all financial operations, performance indicators and results support the strategic policies
  • Identify new, and expand existing, sources of revenue
  • Achieve profits of at least 10% per annum.

Build high quality residents to meet customer needs and aspirations

  • Increase sales of homes in current Sydney market by 10% per annum over the next three years.
  • Establish a presence in Queensland and build at least 100 new homes in Brisbane and the Sunshine Coast during the period of the Strategic Plan.
  • Research and plan for the launch of new innovative, environmentally friendly homes

Continue building deeper customer relationships

  • Customer-centred practice, with a focus on meeting their total needs for a high-quality home
  • Strengthen the skills of our people, to better support customers
  • Drive innovation to better meet customer demands

Attract, engage and develop the best staff

  • Continuing the drive to a customer centred, high performance workforce and culture
  • Strengthening the skills of our people, to better support customer needs
  • Empowering innovation and responsiveness to change
  • Continuing to enhance the diversity of our workforce.

Operational Objectives

The following table identifies the operational objectives we plan to achieve in pursuit of our strategic objectives.

2020

Priorities

Key performance indicator

June

Employ at least 3 permanent site staff

Site staff in place

July

Commence recruiting for key positions in Brisbane and Sunshine Coast

Key staff established for Brisbane and Sunshine Coast

August

Develop and implement work-life balance programs

Increased employee satisfaction as measured by surveys.

Oct

Commence promotions in the Brisbane and Sunshine Coast market

Set up display centre in Brisbane and Caloundra QLD

Presence in Brisbane established

November

Staff performance reviews

All staff performance reviews conducted using new performance review system

Learning and development plans documented and implemented for all staff

2021

Jan

Develop and implement strategies for increasing number of women in the workplace

Number of females in company increased by at least 4 by mid 2021

March

Commence design of environmentally friendly homes

Designs completed

May

Commence marketing environmentally homes

Build at least 4 environmentally friendly homes by the end of 2021

November

Staff performance reviews

All staff performance reviews conducted

2022

Feb

Review other potential markets

Potential markets explored

Sept

Analyse workforce diversity

Number of women in workforce continuing to increase

Nov

Staff performance reviews

All staff performance reviews conducted

The Market

Market characteristics & conditions

The construction industry had been facing a stagnant phase in recent times, however experts predict a turnaround, providing real opportunities in the sector. Although much of the construction industry is expected to see real growth in the coming 12 months, the residential building sector should experience the most.

The Housing Industry Association (HIA) recently released their National Outlook and announced that this year would see a new record of homes commenced. According to the statistics, record 195,936 new dwelling commencements are forecast in 2018/19, a 7.7 per cent growth on the previous year.

Although 2017 saw a rise in overall numbers, a significant portion of building approvals never started, sparking further opportunities when these begin in 2018. Project Managers, Structures Forepersons and Commercial Contract Administrators will be at the top of any wish list for construction businesses this year.

Although a number of states are set for an increase, the Sunshine State to experience the most growth. The Queensland Government is providing support by offering first home buyer/builder grants, as well as easier procedures for development application approvals.

Globally it is expected that the construction industry will grow from $7.2 trillion to over $12 trillion. The global construction industry has a number of challenges and opportunities according to a recent report by Global Construction Perspectives and Oxford Economics. A number of factors are expected to affect outcomes:

  • Countries’ decisions with respect to carbon reduction, climate change, waste disposal, clean technology and renewables.
  • Emerging economies in general are expecting large population increases in the coming decade, creating demand for construction activity. Population growth in developed countries will be flat.
  • Relatively speaking, developing countries are expected to grow at 2 to 3% per year and emerging countries at 6 to 7% per year.
  • Emerging countries currently represent about 35% of global construction output and this is expected to increase to 55% by 2020.
  • The key area of construction growth in emerging countries will be infrastructure: transport, energy, social infrastructure, schools, hospitals, government accommodation, water, defence infrastructure and natural resources. These projects are expected to increase by 130% in developing countries by 2020, but by only 20% in developed countries.
  • Amongst developed countries North America is will see the highest growth rate mostly in residential construction which will grow at double digits annually. South and Central America, the Middle East and Africa will grow moderately with Western Europe seeing the lowest growth.
  • Eastern Europe and Russia are expected to expand construction by 100%, primarily led by Poland and Russia, by 2020.
  • China is expected to become the world’s leading construction market by 2018 with a construction output of $2.5 trillion.

In the future, trends in technology, particularly information technology (IT), may be the greatest driver of change in the building and construction industry. Electronic tendering and documentation, data communication, virtual design, shared project data and databases, construction automation, and energy management will have a significant impact on industry practices. Those parties that are slow to react to these trends will have difficulty in remaining competitive.

Situation Analysis

Strengths

Weaknesses

Ø Value and quality

Ø Strong management

Ø Customer loyalty

Ø Friendly organisational culture

Ø Level of available finance for investment

Ø Focus on Sydney market only

Ø Brand name not developed as yet

Ø High turnover of casual workforce

Ø Lack of diversity in workforce

Opportunities

Threats

Ø Housing sector experiencing growth

Ø Potential for growth in Brisbane and Sunshine Coast markets

Ø Innovation in environmental housing

Ø Environmental effects

Ø Changes in Industry/ Government legislation affecting construction industry

Ø Possible adverse effects of government policy formulation

Ø High level of competition

Ø Predicted uncertainties in the world economy impacting level of demand for housing

Ø Low price competitors

Ø Failing to satisfy clients demands

Marketing Strategies

Our marketing strategies aim to:

  • build trust,
  • generate leads now,
  • help to convert those leads quickly, and
  • will form the basis of ongoing relationships and referrals.

We plan to develop our market share by:

  • Improving our marketing and advertising
  • Continually improving the quality of service given to clients
  • Maintaining effective communication channels with all stakeholders to ascertain industry requirements and then develop products and manage services accordingly
  • Continually improving communication channels with all our stakeholders, ensuring a flow of timely and accurate information to facilitate effective planning and decision making
  • Targeting identified growth markets with planned, market appropriate campaigns employing a variety of promotional strategies and advertising mediums
  • Offering attractive fee structures to our clients
  • Continually improving the skills, knowledge and effectiveness of Boutique Build Australia through our commitment to training and development
  • Regularly reviewing the effectiveness of all our operations and making improvements when and where necessary

Risk Management

The following section identifies the associated risks in pursuit of our strategic objectives and how we will deal with them.

Strategic Objectives

  1. To be well led, high performing, profitable and accountable
  2. Build high quality residents to meet customer needs and aspirations
  3. Continue building deeper customer relationships
  4. Attract, engage and develop the best staff

Risk

Australian government changing policy in relation to industry

Ø Accepting policy change will be a constant factor to manage

Ø An understanding of this should be instilled in all staff

Ø Develop ability to foresee and react quickly to change

Ø Maintain effective communication channels with stakeholders

Ø Diversification of source markets

Ø Develop product range

Related to Strategic Objectives: All

Risk

Significant drop in cash flow

Ø Identify operating costs as per future plans and past performance

Ø Identify available finance available

Ø Efficient invoicing and debt recovery

Ø Accurate income projections

Ø Close monitoring of expenditure

Ø Arrange overdraft facilities

Ø Scenario planning

Related to Strategic Objectives: All

Risk

Failure to recruit planned number of clients

Ø High quality delivery of all services

Ø Swift reaction to feedback

Ø Skilled motivated staff

Ø Attractive fee structures

Ø Effective market research

Ø Monitor performance

Ø Take early corrective action if not meeting targets/ expectations

Ø Maintaining effective relationships with clients

Ø Maintaining effective communication channels with all stakeholders

Related to Strategic Objectives: All

Risk

The world recession and the domino effect

Ø Diversification of target market

Ø Target markets with strong growth forecasted

Ø Monitor the economic trends

Ø Regularly review performance in line with anticipated market conditions

Ø Develop culture of accepting continual change

Ø React quickly to change

Ø Scenario planning

Ø Maintaining effective communication channels with all stakeholders

Related to Strategic Objectives: 1, 2

Risk

Over committing resources

Ø Balance activities with amount of finance available for investment

Ø Financial planning

Ø Monitoring of cash flow

Ø Review invoicing/ debt recovery system

Ø Swift response to identified issues

Ø Accessing financial advice

Related to Strategic Objectives: 1, 2, 4

Risk

Adverse changes in market conditions

Ø Effective communication channels

Ø Continuous market research

Ø Monitor new markets and overall recruitments trends for all market segments

Ø Scenario planning

Ø Develop working knowledge of potential markets

Ø Networking

Ø Maintaining effective communication channels with all stakeholders

Related to Strategic Objectives: 1, 2, 4

Risk

Changes to Acts and other relevant legislation

Ø Emphasis on professional, ethical practices with all stakeholders

Ø Staff training

Ø Leading by example

Ø Policy implementation and monitoring

Ø Effective communication channels with all stakeholders

Ø Ability to manage change

Ø Managing available finance for re-investment

Related to Strategic Objectives: All

Risk

Shortage of/ Difficulty in recruiting appropriate qualified and skilled staff

Ø Development of HR policies and procedures

Ø Offer attractive salary package

Ø Provide opportunities for career progression

Ø Develop stimulating and enjoyable working environment

Ø Commitment to training and development

Ø Commitment to professional development

Related to Strategic Objectives: 5

Risk

Failure to meet and manage client’s expectations

Ø Accurate and timely communication with potential and current clients

Ø Management of recruitment activities

Ø Continuous improvement system

Ø Regularly review learning and teaching approaches, resources, structure and systems

Ø Client management policies in academic and support services

Ø Industry liaison

Ø Reviewing effectiveness of communication channels with clients

Ø Employing a continuous improvement approach to all operations

Ø Continuous market research and action

Ø Systematic feedback on management performance and personal reflection

Related to Strategic Objectives: All

Risk

Failure to comply with legislation

Ø Consistently implement compliant policies and procedures

Ø Continuous improvement system

Ø Commitment to training and development

Ø Systematic review of policies and procedures

Ø Regular reviews of all operations

Related to Strategic Objectives: All

Risk

Failure to control expenditure

Ø Effective financial planning and review

Ø Co-ordination of activities

Ø Systematic review of practice

Ø Financial management and control systems

Ø Facilities management

Ø Implementation of efficient processes

Ø Efficient procurement of products and services

Ø Cost comparisons prior to purchasing

Related to Strategic Objectives: 1, 4

Risk

Only providing boutique homes

Ø Weighting between diversification/ specialisation

Ø Monitor recruitment trends per market

Ø Forecasting

Ø Cost benefit analysis

Ø Developing reputation for being a specialist in high quality homes

Ø Developing market share for boutique homes

Related to Strategic Objectives: 1, 2, 3

Risk

Ineffective planning

Ø Experienced management team

Ø Continuous market research

Ø Planning system

Ø Organisation structure and systems

Ø Regular review of structure, systems and procedures

Ø External liaison

Ø Maintaining effective communication channels with all stakeholders

Related to Strategic Objectives: All

Risk

Competitors undercutting prices

Ø Maintain competitive pricing policy

Ø Monitor competitors’ prices and quality

Ø Regularly review financial management models/ processes

Ø Continue focusing on quality

Ø Continue strategy of quality brand promotion

Related to Strategic Objectives: All

Risk

Rate of growth in client numbers

Ø Systematic review of systems and practice

Ø Buying in knowledge and skills

Ø Sourcing reliable market information

Ø Strategic and operational planning

Ø Review/ amend management structure

Ø Develop policies and procedures

Ø Regular reviews of capacity and operation of all functional and curriculum areas

Ø Good communication channels with stakeholders

Ø Recruitment policy

Ø Finance available for expansion

Related to Strategic Objectives: 1, 2, 3, 4

Risk

Unethical/ unprofessional practices of staff

Ø Staff selection processes

Ø Staff monitoring systems

Ø Previous experience of managing staff

Ø Swift reaction to feedback

Ø Termination of agreements

Ø Maintain currency of market recruitment trends

Ø Maintain relationships with HR organisations

Related to Strategic Objectives: All

Risk

Casual staff team

Ø Develop database of contract staff

Ø Employ a permanent team of staff

Ø Planning for holidays/ leave

Ø Maintain relationships with HR organisations

Ø Offer incentivised pay structure for casual staff

Related to Strategic Objectives: All

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