Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 2.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Investigate opportunities and ideas for business development

1.1 Conduct an internal assessment of the performance of the business and its operations to identify potential efficiencies

1.2 Review the external business environment and identify emerging trends, disruptions and potential threats

1.3 Consult with relevant stakeholders and specialist services or sources of advice to gain feedback on development possibilities

1.4 Consider development options specific to the type of business, market or industry life cycle stage utilising benchmarking, research and innovation

2. Formulate strategies

2.1 Based on the outcomes of the analysis, confirm or modify the business objectives

2.2 Develop a set of strategies and specific actions for both the short and long term incorporating regulatory, social, economic, ethical and environmental responsibility factors into the decision- making process

2.3 Align the strategies to the business resource and capability limitations

3. Implement the strategies

3.1 Access and allocate resources

3.2 Establish a framework for implementation that covers equipment, infrastructure and personnel

3.3 Design controls to monitor progress and take action to correct any issues

3.4 Demonstrate leadership by providing direction and motivation to others to encourage contribution to business success

4. Monitor the implementation of the strategies

4.1 Assess the outcomes of the strategies and actions against business objectives and performance targets

4.2 Consider further innovations or efficiencies that would contribute to business sustainability

4.3 Determine any adjustments to the strategies and actions to accommodate changes in the internal or external situation

4.4 Document and communicate the changes to relevant stakeholders

Skill 

Performance 

Criteria 

Description 

Reading

1.1, 1.2, 1.4

• Identifies, analyses and evaluates a range of textual information to determine options, opportunities and challenges, as well as legislative and regulatory requirements of using digital technologies

Writing

2.1-2.3, 3.2, 3.3, 4.4

• Prepares documents according to organisational requirements
• Creates texts using formats and language appropriate to the audience and context

Oral Communication

1.3, 3.4, 4.4

• Presents information and seeks advice using language appropriate to audience
• Participates in discussions using listening and questioning to elicit the views of others and to clarify or confirm understanding

Numeracy

1.1, 1.4, 3.1, 3.3 4.1

• Interprets and uses mathematical equations to analyse and compare businesses, and identify and quantify opportunities
• Designs controls to monitor and measure outcomes

Navigate the world of work

2.2

• Develops, monitors and modifies organisational policies and procedures in accordance with legislative requirements and organisation goals

Interact with others

1.3, 3.4, 4.4

• Selects and uses appropriate conventions and protocols when communicating with specialist advisors to seek or share information
• Plays a lead role in motivating and providing direction to others to elicit positive outcomes

Get the work done

1.1-1.4, 2.1-2.3, 3.1-3.4, 4.1-4.4

• Plans, organises and implements work activities of self and others that ensure compliance with organisational policies and procedures, and legislative requirements
• Sequences and schedules complex activities, monitors implementation, and manages relevant communication
• Uses a systematic, analytical approach to gather relevant information, identify and evaluate options and opportunities, and allocate resources
• Creates and innovates to develop ideas and opportunities for implementation
• Evaluates outcomes of strategies to identify opportunities for improvement, and make adjustments as appropriate

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBSMB415 Refine and strengthen a small business

Not applicable

New unit

No equivalent unit

Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 2.0.