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Unit of competency details

BSBESB304 - Determine resource requirements for new business ventures (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBSMB304 - Determine resource requirements for the micro business 18/Oct/2020
Supersedes BSBSMB307 - Set up information and communications technology for the micro business 18/Oct/2020
Supersedes BSBSMB308 - Improve energy efficiency in micro or small business operations 18/Oct/2020

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 19/Oct/2020


Qualifications that include this unit

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CUA41120 - Certificate IV in Photography and Digital ImagingCertificate IV in Photography and Digital ImagingCurrent
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CUA30920 - Certificate III in MusicCertificate III in MusicCurrent
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SHB50121 - Diploma of Beauty TherapyDiploma of Beauty TherapyCurrent
SHB30321 - Certificate III in Nail TechnologyCertificate III in Nail TechnologyCurrent
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BSB30220 - Certificate III in Entrepreneurship and New BusinessCertificate III in Entrepreneurship and New BusinessCurrent
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Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  17/Dec/2020 
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Unit Of competency

Modification History

Release  

Comments  

Release 1

This version first released with BSB Business Services Training Package Version 7.0.

Application

This unit describes the skills and knowledge required to identify resources required for new business ventures; select options for acquiring them; and develop procedures and systems for introducing, using and maintaining them.

The unit applies to those establishing a business providing self-employment, as well as those establishing a new venture as part of a larger organisation. Resources may include business machinery, equipment and software.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Unit Sector

Business Competence – Entrepreneurship and Small Business

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

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

1. Establish resource requirements of new business venture

1.1 Analyse business profile and consult with required personnel to determine business requirements for resources

1.2 Analyse factors impacting type and quantity of required resources

1.3 Record proposed type and quantity of required resources

2. Source resources required in new business venture

2.1 Research options for acquiring resources that meet business outcomes

2.2 Evaluate identified options to determine reliability, risk, cost, and ease of access to service and support

2.3 Engage with suppliers and other key people to negotiate supply of resources according to established workplace activities

2.4 Select and document resources to be acquired and seek approval.

3. Prepare for use of selected resources in new business venture

3.1 Obtain or design procedures and systems for effective and efficient introduction and use of selected resources

3.2 Ensure procedures are in place to monitor resource use and maintain, repair and replace resources

Foundation Skills

This section describes those language, literacy, numeracy and employment skills that are essential to performance but not explicit in the performance criteria.

Skill 

Description 

Reading

  • Gathers, interprets and analyses textual and numerical information from a range of sources and identifies key information

Writing

  • Uses information and industry-related terminology to complete simple instructional documentation

Oral communication

  • Uses relevant language suitable to audience to convey requirements, and listening and questioning techniques to confirm understanding

Numeracy

  • Analyses numerical information to calculate resource and equipment expenditure

Initiative and enterprise

  • Researches new ideas and opportunities, selecting appropriate options as required

Technology

  • Uses a range of digitally based technology and applications to access and filter data, and then extract, organise, integrate and share information

Unit Mapping Information

Supersedes and is equivalent to BSBSMB304 Determine resource requirements for the micro business.

Supersedes but is not equivalent to:

  • BSBSMB307 Set up information and communications technology for the micro business
  • BSBSMB308 Improve energy efficiency in micro or small business operations.

Links

Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

 

Assessment requirements

Modification History

Release  

Comments  

Release 1

This version first released with BSB Business Services Training Package Version 7.0.

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

  • select at least two different types of resources for a new business venture, one of which must relate to digital technologies.

In the course of the above, the candidate must:

  • select resources that suit the business venture profile
  • calculate required resource levels in line with business profile and projected business activity
  • select options for resource acquisition suited to business venture, including financial position and stakeholder needs
  • ensure procedures and systems are in place in relation to selected resources.

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

  • business requirements relating to required resources, including legislative and regulatory
  • business venture profile and structure
  • factors impacting type of resources required, including:
  • benefits and challenges of specific resources
  • functions of required digital technologies, business equipment and machinery
  • warranties and conditions of use
  • factors impacting quantity of resources required, including:
  • business profile
  • projected business activity levels
  • business financial position
  • workplace procedures and systems for:
  • selecting and documenting resources to be acquired
  • seeking approval for resource acquisition
  • engaging with potential and existing suppliers
  • negotiating arrangements for supply of resources
  • using and maintaining resources.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

  • business equipment and resources, including maintenance manuals
  • business technology, including internet access
  • workplace documentation and resources relevant to performance evidence, including a sample business profile.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Links

Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10