Modification History
Not Applicable
Unit Descriptor
Unit descriptor |
This unit covers developing and reviewing a business plan and defines the standard required to: set strategic goals, targets and directions for the enterprise; determine clear and measurable indicators of operational performance; identify and design risk management and mitigation strategies; develop appropriate operational plans; document the business plan; monitor the business plan to identify strengths, weaknesses and areas for improvement. |
Application of the Unit
Application of the unit |
This unit applies to those whose role is to set the short, medium or long term goals and targets for the business plan and may relate to marketing and production targets, resource and asset development and management, acquisitions, capital, property improvements, and operational systems. |
Licensing/Regulatory Information
Not Applicable
Pre-Requisites
Prerequisite units |
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Employability Skills Information
Employability skills |
This unit contains employability skills. |
Elements and Performance Criteria Pre-Content
Not Applicable
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
1. Determine scope |
1.1. Scope of the business plan and associated systems is determined in consultation with key and specialist personnel. 1.2. Accurate information is accessed to inform business plan development. 1.3. Trends and seasonal variations are accounted for and incorporated into the business plan. 1.4. Strategic goals, targets and directions of the enterprise are accounted for in the development of the business plan. 1.5. Legal obligations are understood and complied with in developing the business plan. |
2. Prepare business plan |
2.1. Operational goals and targets that enhance opportunities to meet the enterprise strategic plan are developed. 2.2. Supply chains are identified and incorporated into the business plan. 2.3. Risk management needs are identified and addressed within the business plan. 2.4. Trial systems are incorporated in order to test budgetary impact and operational potential prior to full implementation of the business plan. 2.5. Indicators of operational performance are clear and measurable and allow for realistic analysis of performance. |
3. Document and review business plan |
3.1. Fiscal and operational systems that enhance performance management and suit enterprise requirements are included. 3.2. Resource considerations are incorporated into the business plan. 3.3. Business plan is accurately documented and clearly communicated to all relevant parties. 3.4. Performance against the business plan is monitored to identify strengths, weaknesses and areas for improvement. 3.5. Recommendations to improve the business plan and associated systems are made as required. |
Required Skills and Knowledge
REQUIRED SKILLS AND KNOWLEDGE |
This section describes the skills and knowledge required for this unit. |
Required skills |
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Required knowledge |
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Evidence Guide
EVIDENCE GUIDE |
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The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package. |
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Overview of assessment |
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Critical aspects for assessment and evidence required to demonstrate competency in this unit |
Competence in developing and reviewing a business plan requires evidence that demonstrates ability to scope the business plan and determine key objectives and targets. The evidence required to demonstrate competency in this unit must be relevant to workplace operations and satisfy holistically all of the requirements of the performance criteria and required skills and knowledge and include achievement of the following:
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Context of and specific resources for assessment |
Competency requires the application of work practices under work conditions. Selection and use of resources for some worksites may differ due to the regional or enterprise circumstances. |
Range Statement
RANGE STATEMENT |
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The range statement relates to the unit of competency as a whole. |
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Business plans may include: |
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Operational goals and targets may include: |
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Unit Sector(s)
Unit sector |
Business |
Co-requisite units
Co-requisite units |
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Competency field
Competency field |