Modification History
Release |
TP Version |
Comments |
3 |
PSP12V1 |
Unit descriptor edited. |
2 |
PSP04V4.2. |
Layout adjusted. No changes to content. |
1 |
PSP04V4.1 |
Primary release. |
Unit Descriptor
This unit covers the requirement to develop, implement and review business strategies to attain the business unit's strategic objectives. It includes defining and implementing business strategies, reviewing the effectiveness of strategies and managing risk associated with the strategies.
In practice, formulating business strategies may overlap with other generalist or specialist public sector workplace activities such as complying with legislation, acting ethically, managing risk, networking, developing business cases etc.
This unit replaces and is equivalent to PSPMNGT609A Formulate business strategies.
No licensing, legislative, regulatory or certification requirements apply to this unit at the time of publication
Application of the Unit
Not applicable.
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Not applicable.
Employability Skills Information
This unit contains employability skills.
Elements and Performance Criteria Pre-Content
Elements are the essential outcomes of the unit of competency. |
Together, performance criteria specify the requirements for competent performance. Text in bold italics is explained in the Range Statement following. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
1 . Define and implement business strategies |
1.1 Business unit objectives are formulated in accordance with the unit's strategic priorities. 1.2 Strategies are developed that relate to the business unit's strategic objectives. 1.3 Strategies are developed in consultation with key stakeholders including other business units and organisations, using a range of communication strategies . 1.4 Strategies and associated objectives are delegated to operational levels within the business unit. 1.5 Strategies are delegated to individuals, teams and groups in a manner which ensures understanding, and commitment. 1.6 Information on business strategies that specifies output targets and performance standards is given to individuals, teams and groups. 1.7 A system which includes key performance indicators is developed to monitor the implementation and effectiveness of strategies. |
2 . Review the effectiveness of business strategies |
2.1 Strategies developed to attain the business unit's strategic objectives are reviewed in a timely fashion. 2.2 Strategies are reviewed in relation to attainment of key objectives, budgets, resources and timelines. 2.3 Multiple perspectives and sources of information are considered in determining the effectiveness of strategies. 2.4 The effectiveness of the strategy is reviewed against key performance indicators. 2.5 Recommendations on appropriate enhancements to the strategies and plans are formulated and acted upon in accordance with organisational policy and procedures . |
3 . Manage risk associated with business strategies |
3.1 Risks associated with the implementation of the business unit's strategies are identified and evaluated. 3.2 Risk levels are assessed as acceptable or unacceptable and balanced against opportunities afforded by taking risks. 3.3 Information sources are utilised to assess levels of identified risks. 3.4 Risk treatments are selected and implemented. 3.5 Risk treatments are monitored and reviewed. |
Required Skills and Knowledge
This section describes the essential skills and knowledge and their level, required for this unit. |
Skill requirements Look for evidence that confirms skills in:
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Knowledge requirements Look for evidence that confirms knowledge and understanding of:
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Evidence Guide
The Evidence Guide specifies the evidence required to demonstrate achievement in the unit of competency as a whole. It must be read in conjunction with the Unit descriptor, Performance Criteria, the Range Statement and the Assessment Guidelines for the Public Sector Training Package. |
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Units to be assessed together |
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Overview of evidence requirements |
In addition to integrated demonstration of the elements and their related performance criteria, look for evidence that confirms:
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Resources required to carry out assessment |
These resources include:
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Where and how to assess evidence |
Valid assessment of this unit requires:
Assessment methods should reflect workplace demands, such as literacy, and the needs of particular groups, such as:
Assessment methods suitable for valid and reliable assessment of this competency may include, but are not limited to, a combination of 2 or more of:
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For consistency of assessment |
Evidence must be gathered over time in a range of contexts to ensure the person can achieve the unit outcome and apply the competency in different situations or environments |
Range Statement
The Range Statement provides information about the context in which the unit of competency is carried out. The variables cater for differences between States and Territories and the Commonwealth, and between organisations and workplaces. They allow for different work requirements, work practices and knowledge. The Range Statement also provides a focus for assessment. It relates to the unit as a whole. Text in bold italics in the Performance Criteria is explained here. |
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Business unit may refer to: |
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Communication strategies may include: |
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Business strategies may include: |
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Information sources for strategy review may include: |
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Policy and procedure may include: |
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Risk management : |
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Risk information sources may include: |
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Unit Sector(s)
Not applicable.
Competency field
Management.