PROJECT

PORTFOLIO

STUDENT VERSION

BSBCRT611
APPLYCRITICAL THINKING
FOR COMPLEX PROBLEM
SOLVING
 Contents

Section 1: Defining the complex issue 4

Section 2: Systematic decision-making 6
Section 3: Decision review 8

BSCRT611PROJECT PORTFOLIO 2
Student name:

Assessor:

Date:

Documentation reviewed as Case Study

preparation:
Strategic Plan 2020-2022
Policies and Procedures

Job role: Finance manager

Stakeholders: Management and staff of Worlducation,

Customers,
Suppliers,
Investors

Numeric/Financial data: In 2019, Worlducation generated a revenue of $35 million, a net profit
of $7 million and net cash-flow of $4 million. They budgeted revenue
of $45 million for 2020, net profit of $9 million and net cash-flow of $5
million. However, following the unprecedented growth in demand and
disruptions to the supply chain, management now projects 2020
revenue will amount to $55million, net profit of $5 million and net cash-
flow of negative $3 million.

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 Section 1: Defining the complex issue

Provide business overview Worlducaton is a social start-up that manufactures tablet computers
for primary school students. Our focus is not only on the hardware,
Provide an overview of the
but also creating software, content and activities to better engage and
business, including:
educate primary school students.
 name of business
Worlducaton aims to change the way children learn at school by
 description of what the implementing artificial intelligence technology that can follow up on
business does (e.g. key each child’s progress and adjust to their needs as they learn, creating
functions, vision) the optimal path learning experience.

 your job role within the Worlducaton envisions a world in which every child learn show to
business (or the role read and write – a world without illiteracy. This is why, for each
you’re assuming if you classroom that buys our product, we donate and train a classroom
are basing this somewhere around the world that can’t afford the same technology.
assessment on the case We then connect the classrooms together so that they can grow and
study). collaborate throughout their learning cycle.
As a Finance manager at Worducation the responsibilities that merit
the position include managing cash flow, preparing the budget,
collaborating with the sales and operations teams to understand the
sales pipeline and capacity and supply chain constraints respectively.

Outline complex issue Since COVID-19 and the closure of the factory due to government
restrictions, of the 2000 tablets due to be shipped but only 500 were
Describe the complex issue
completed on schedule which cause the rising tension between
associated with the business,
China and Hong Kong has added to the uncertainty.
including:
In 2019, Worlducaton generated a revenue of $35 million, a net profit
 a brief outline of the
of $7 million and net cash-flow of $4 million. They budgeted revenue
issue
of $45 million for 2020, net profit of $9 million and net cash-flow of $5
 who the stakeholders are million. However, following the unprecedented growth in demand and
and how they are disruption to the supply chain, management now projects 2020
associated with the issue revenue will amount to $55 million, net profit $5 million and net cash-
flow of negative $3 million. The revenue is expected to grow but the
 analysis and
profit margins will decline. The decrease in profit was a result of the
presentation of numeric
disruption to the manufacturing process and the associated solutions
and financial data
implemented by Management.
illustrating the complex
issue (attach to this Stakeholders:
section of the portfolio)
 government
 two objectives when  suppliers
pursuing solutions  employees across many different departments
(manufacturing, sales, finance, operation)
 three advantages of  customers
solving the issue.
Objectives:

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  Maintain liquidity: it is vital for every company to generate
 three risks involved in
profit of its activities to stay competitive on the market.
pursuing solutions. Therefore within the work team have been mentioned
measures such as outsourcing production services or the
inclusion of mobile devices to facilitate the use of the tool
itself, all this to reduce the costs of production and marketing
and thus make the product more profitable.
 Stay within the budget: complying with the budget is vital to
avoid incurring unnecessary costs and is the best way to
have a responsible financial control.

Advantages:
 Good relationship with customers and suppliers
 Company’s sustainability and growth
 Finding investors

Risk:
 Loss of customers: Restructuring the supply chain can
bring several risks such as delays, product failures or
supplier defaults. This may cause customers to lose
confidence in the company and opt for other options.

 Reputational damage: This risk stems from the previous

one and is the failure to deliver for customers and the
company being seen as inefficient or unreliable.

 Employee dissatisfaction: The desire to increase

efficiency can lead to the need for more effort on the part
of staff, as well as parallel events arising from the
outsourcing of production services, such as a reduction
in staff.

 Deterioration of the relationship with suppliers

Legislative and organisational Legislation and organisational policies/procedures are put in place to
requirements make sure all stakeholders are as safe as possible and to ensure a
successful outcome for the organisation. Workplace problems often
Establish the legislative and
occur due to a deviation from legislative or organisation
organisational requirements
policy/procedure frameworks. The few policies can be included for
related to the complex issue,
this business such as; Work Health and Safety issues, safety
including:
standards policy for the products and Business procurement policy.
 a summary of the
relevant legislation
Legislative and organisational requirements:
 a summary of the
associated organisational  Corporations Act 2001
policies and procedures
 Fair Work Act 2009
Attach any relevant policies to
 Australian Consumer Law
your portfolio.

Organisational policies and procedures:

 Finance authorisation policy and procedures

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  New supplier policy

 Privacy policy and procedures

 Performance policy and procedures

 Documentation policy and procedures

Calculate resources Project Total cost Documents Equipment HR/staff

duration
Calculate the resources
required for the solution
90 days $5000 Sales Phone, 40
development process
strategy, computer, hours/week
budget, laptop
financial
analysis

Prepare presentation Provided in separate file.

Use the work done in this
section to prepare a
presentation of scope of your
issue to present to relevant
stakeholders.
Use any appropriate format
(e.g. MS PowerPoint).
Attach the presentation to
your portfolio.

Attach: Organisational policies and procedures ☐

Legislation ☐

Presentation ☐

Financial analysis and presentation ☐

BSCRT611PROJECT PORTFOLIO 6
 Section 2: Systematic decision-making

Generate alternative Two critical thinking method used:

solutions for your
Analytical thinking: analytical thinking is a method where we think critically and rationally
issue
Discussion: Through the debates there is a process of argumentation of points of view, in
Summarise the
which the parties can carry a dialectical process, in which a thesis is established, the
outcomes of your
opposing party raises an antithesis, to finally reach a synthesis. If the points of view are not
meeting with the
communicated and presented, critical thinking remains stagnant because it does not allow
stakeholder, including:
the evolution of all the existing ideas in each person.
 an outline of two
Alternative solutions:
critical thinking
techniques  Searching for investors: You can seek through a potential partner, an investment that
usedto generate does not leave the company so much adrift, considering that a fraction of the shares of
solution the company must be given to that benefactor.
alternatives with  Decrease in payment terms for customers: This is an alternative that allows the company
other not to handle such risky debt figures and maintain an optimal cash flow.
stakeholders
(attach proof e.g.  Increase price of tablets, training material and applications: the cost of tablets and
mind map to this training material can be raised in such a way as to generate a higher percentage of net
section of your profit; this requires a study so that likewise the product does not become uncompetitive.
portfolio)  Making campaign and increase productions
 List of four to six  Quantity discounts offers: This alternative needs a strong combined strategy between
alternative the marketing and financial areas, in which a consensus is reached on what is the
solutions. optimal offer to generate profit.

Evaluate alternative Success criteria:

solutions
Customer and stakeholders satisfaction, supplier relationship, meet budget requirements,
Evaluate each company’s liquidity.
identified solution to
Constraints:
establish their
feasibility. Include:  Duration for the solution to be implemented

 success criteria  Cost of the solution

 constraints  Manufacturing/content production capability

 evaluation of
each alternative
against the Criteria Customer Shareholder Meet Relationship Continued
criteria and satisfaction satisfaction budged req. with supplier liquidity
constraints Solution

 List of all feasible Searching for Yes No Yes Yes Yes

options investors

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 Discount to Yes Yes Yes Yes Yes
customers
who pay
upfront

Increase No Yes Yes No Yes

price of
products

Making No Yes No Yes No

campaign

Quantity Yes No Yes No No

discounts
offers

Compare feasible We had comparison analysis based on success criteria, including financial aspects, risk and
solutions benefits.
Use one appropriate
tool/technique to
compare all feasible Compare feasible solutions
alternatives with one Criteria Customer Shareholder Meet Relationship Continued Total
another. Include: satisfaction satisfaction budged with liquidity
Solution req. supplier
 a description of
the tool or Yes Yes Yes Yes
Discount to Yes 5
technique used
customers
 proof of your who pay in
comparison (e.g. advance
table, financial
analysis etc) Searching Yes Yes Yes No Yes 4
for
 an assessment of investors
bias in your
decision-making Comparing the two alternatives with the highest scores, we can see that providing a discount
(actual or for advanced payments is the one with the highest score, so it is the solution with the highest
perceived) coverage for the solution of the problem and the one with the highest level of feasibility for
the company to continue being profitable.

Choose the best Discount to customers who pay in advance

solution for your
This alternative was chosen because it was the one that gave the greatest coverage to the
complex issue
solution of the main problems, since it was the option that did not involve an increase in
Choose the best prices that could be a disruptive strategy for customers.
alternative and
This solution will help to increase sales, and customer satisfaction. It does not have any risk

BSCRT611PROJECT PORTFOLIO 8
explain: related to deteriorating relationship with suppliers and this decision will be approved by
shareholders.
 Why did you
choose it?

 How does it meet Risks:

the legislation
 Demand from customers might not be strong enough to keep company’s liquidity in
and
sustainable level.
organisational
policy  Not enough stock to cover growing demand due to discounted price of sales deals.
requirements?

 Are there any Advantages:

risks associated
with your  Improved liquidity
solution?  Good relationships with customers
 What are the  Good relationship with suppliers
advantages of
the chosen  Boost of sales
solution?  Increase company/brand awareness
 Resources  strengthen company’s competitiveness
required

This solution does not contradict with any current legislation or any company policies. If this
decision is approved by the board of directors and the process is carried out in accordance
with the corporate act, it is completely viable.

Resources:

 Promotion campaign

 Sale strategy

 Budget

 Financial analysis to determine what amount of money is needed to cease the damages
that come with the current situation.

BSCRT611PROJECT PORTFOLIO 9
Prepare a brief
Use the work done in
this section to prepare
a brief to share your
proposed solution
withkey stakeholders
(use “Brief outline”
template if
applicable).
Attach the
organisation policies
that guide brief writing
to this section of the
portfolio.

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Attach: Brief ☐

Feedback register ☐

Organisational policies - brief ☐

Feedback register:

Date 12.12.2022
Project 101-22-CSFSOL
Person receiving Your name
feedback
Reviewer CEO
Comments  Risk of customers might associate
discounted price with lower quality
what might damage brand reputation
 Customers may get use to lower price
and refuse to pay full price of products
and services in the future
Action needed update the Brief according the feedback

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 Section 3: Decision review

Develop a Date 12.12.2022

feedback Project 101-22-CSFSOL
register Person receiving Your name
feedback
Develop a Reviewer CEO
feedback Comments  Risk of customers might associate
register to discounted price with lower quality
record what might damage brand reputation
feedback from  Customers may get use to lower price
stakeholders. and refuse to pay full price of products
Attach the and services in the future
organisation Action needed update the Brief according the feedback
policies that
guide
recording of
feedback.

DocumentationPolicy and Procedures

All employees are required to use Worlducation’s templates for all workplace
documentation.
Documents should be named [Department_Type_Detail_Version]
Documents are to be saved using Worlducation’s cloud-based storage system.
In-built software review functionality should be used, and all comments recorded in a
feedback register. Feedback register should contain the date, project number, name of
reviewer, person receiving feedback, comments and action required.

BSCRT611PROJECT PORTFOLIO 12
Incorporate
feedback
Use the
feedback from
your meeting
with
stakeholders
to refine your
project brief.
Attach the
refined brief
and
completed
feedback
register to this
section of
your portfolio.

Seek Date: 12.12.2022

approval
To:wdc-ceo@worlducation.com
Use an
From: yourname@worlducation.com
appropriate
format to seek Subject: Approval of the proposed solution
approval to Dear CEO.
implement
your
proposed Please do not hesitate to contact me if you have any doubts regarding the information
solution (e.g. provided.
draft an email,
complete an
application Dear CEO,
form ready to
be lodged
I hope this email find you well. I am writing you regarding the Approval of the proposed
etc.)
solution for disrupted cash-flow. Our team has evaluated various alternatives to alleviate
Attach proof cash-flow problem. After financial and risk analysis we have conclude that the most
to this section appropriate solution for the business at this time is to provide a discount to customers
who pay in advance.
of your
portfolio. This solution will help to increase sales, and customer satisfaction. It does not have any
risk related to deteriorating relationship with suppliers.
Proposed solution does not contradict with any current legislation or any company
policies.

Please see attached Brief and make a statement in order to proceed in this matter.

Kind Regards,

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Self-evaluate
your
performance
Perform a
self-
evaluation:

 Complet
e the
self-
evaluatio
n
checklist
(add as
an
attachme
nt).

 List your
strengths
and
weaknes
ses.

 Identify
areas
needing
improve
ment.

Attach the
completed
self-
evaluation
(Self-
Evaluation
checklist) to
this section of
your portfolio.

Attach: Self-evaluation checklist ☐

Refined brief ☐

Completed feedback register and related organisational policies ☐

Proof to seek approval ☐

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