Unit of competency details

BSBMGT617 - Develop and implement a business plan (Release 1)

Summary

Releases:
ReleaseStatusRelease date
1 1 (this release)Current 25/Mar/2015

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBMGT617A - Develop and implement a business planUpdated to meet Standards for Training Packages 24/Mar/2015


Training packages that include this unit

CodeTitleSort Table listing Training packages that include this unit by the Title columnRelease
TLI - Transport and Logistics Training PackageTransport and Logistics Training Package 1.0-5.0 
SIT - Tourism, Travel and Hospitality Training PackageTourism, Travel and Hospitality Training Package 1.0-1.2 
RII - Resources and Infrastructure Industry Training PackageResources and Infrastructure Industry Training Package 2.0 
HLT - HealthHealth 2.0-4.1 
FNS - Financial Services Training PackageFinancial Services Training Package 1.0-3.1 
CUA - Creative Arts and Culture Training PackageCreative Arts and Culture Training Package 2.0,3.0 
CSC - Correctional Services Training PackageCorrectional Services Training Package 1.0-1.1 
CPP07 - Property Services Training PackageProperty Services Training Package 14.4-14.5 
CPC08 - Construction, Plumbing and Services Training PackageConstruction, Plumbing and Services Training Package 9.3-9.4 
CHC - Community ServicesCommunity Services 2.0,3.0 
BSB - Business Services Training PackageBusiness Services Training Package 1.0-3.0 
AMP - Australian Meat Processing Training PackageAustralian Meat Processing Training Package 1.0-3.0 
AHC - Agriculture, Horticulture and Conservation and Land Management Training PackageAgriculture, Horticulture and Conservation and Land Management Training Package 1.0-2.0 

Qualifications that include this unit

CodeTitleSort Table listing Qualifications that include this unit by the Title columnRelease
TLI60215 - Advanced Diploma of Deployment LogisticsAdvanced Diploma of Deployment Logistics 1-2 
TLI60115 - Advanced Diploma of Materiel LogisticsAdvanced Diploma of Materiel Logistics 1-2 
SIT60316 - Advanced Diploma of Hospitality ManagementAdvanced Diploma of Hospitality Management 
SIT60216 - Advanced Diploma of Event ManagementAdvanced Diploma of Event Management 
SIT60116 - Advanced Diploma of Travel and Tourism ManagementAdvanced Diploma of Travel and Tourism Management 
SIT50216 - Diploma of Holiday Park and Resort ManagementDiploma of Holiday Park and Resort Management 
RII60715 - Advanced Diploma of Surface Coal Mining ManagementAdvanced Diploma of Surface Coal Mining Management 
RII60615 - Advanced Diploma of Civil ConstructionAdvanced Diploma of Civil Construction 
RII60515 - Advanced Diploma of Civil Construction DesignAdvanced Diploma of Civil Construction Design 
RII60415 - Advanced Diploma of Drilling ManagementAdvanced Diploma of Drilling Management 
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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  30/Jul/2015 
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Unit Of competency

Modification History

Release 

Comments 

Version 1

This version first released with BSB Business Services Training Package Version 1.0.

Application

This unit describes the skills and knowledge required to run a business operation and covers the steps required to develop and implement a business plan.

It applies to individuals who are running an organisation or who take a senior role in determining the effective functioning and success of the organisation. As such, they may oversee the work of a number of teams and other managers.

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

Unit Sector

Management and Leadership – Management

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. Develop business plan

1.1 Review and evaluate pre-existing strategic, business and operational plan, if available

1.2 Analyse and interpret business vision, mission, values and objectives

1.3 Consult with key stakeholders

1.4 Review market requirements for the product or service, profile customer needs and research pricing options

1.5 Develop performance objectives and measures through consultation with key stakeholders

1.6 Identify financial, human and physical resource requirements for the business

1.7 Consider any permits or licences that may be required for new activity

1.8 Write business plan

2. Monitor performance

2.1 Communicate business plan to all relevant parties and ensure understanding of performance requirements and timeframes

2.2 Ensure skilled labour is available to implement plan

2.3 Test performance measurement systems and refine, if necessary

2.4 Ensure timely reports on all key aspects of the business are available, user-friendly and balanced in terms of financial and non-financial performance

2.5 Report system failures, product failures and variances to the business plan as they occur

3. Respond to performance data

3.1 Analyse performance reports against planned objectives

3.2 Review performance indicators and refine if necessary

3.3 Ensure groups and individuals contributing to under-performance are coached, and provide training where appropriate

3.4 Review system processes and work methods regularly as part of continuous improvement

Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.

Skill 

Performance Criteria 

Description 

Reading

1.1, 1.2, 1.4, 1.7, 2.3, 3.1, 3.2, 3.4

  • Gathers, interprets and analyses textual information when developing the business plan and monitoring operational performance
  • Utilises understanding of distinguishing structures and features of a range of text as well as recognising and reflecting on context, purpose and audience

Writing

1.1, 1.2, 1.4, 1.5, 1.8, 2.3, 2.5, 3.2, 3.3, 3.4

  • Communicates relationships between ideas and information, matching style of writing to purpose and audience
  • Researches, plans and prepares business plan for relevant stakeholders

Oral Communication

1.3, 1.5, 2.1, 3.3

  • Presents information and seeks advice using language and features 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, 1.5, 1.6, 1.8, 2.3, 2.4, 3.1, 3.2

  • Extracts and evaluates mathematical information to review the market, research competitors and review pricing structures

Navigate the world of work

1.7

  • Takes full responsibility for identifying and complying with legislative requirements applicable to self and the organisation

Interact with others

1.3, 1.5, 2.1, 3.3

  • Selects and uses appropriate conventions and protocols when communicating with internal and external stakeholders to seek or share information
  • Collaborates with others to achieve joint outcomes, playing an active role in facilitating effective group interaction, influencing direction and taking a leadership role
  • Provides support in field of expertise to colleagues, as required

Get the work done

1.2, 1.4, 1.5, 1.6, 2.2, 2.3, 2.4, 3.1, 3.2, 3.3, 3.4

  • Sequences and schedules complex activities, monitors implementation and manages relevant communication
  • Systematically gathers and analyses all relevant information and evaluates options in order to monitor performance and identify opportunities for improvement

Unit Mapping Information

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBMGT617Develop and implement a business plan

BSBMGT617A Develop and implement a business plan

Updated to meet Standards for Training Packages

Equivalent unit

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

 

Assessment requirements

Modification History

Release 

Comments 

Version 1

This version first released with BSB Business Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

  • analyse and research business vision, mission, values, objectives, goals, competitors, financial targets, management arrangements, marketing approaches and strategic, business and operational plans
  • write a business plan which includes a description of the business, products and services, financial, physical and human resource requirements, permit and licence requirements, marketing activity, financial indicators, productivity and performance targets for key result areas
  • implement a business plan including ensuring skilled labour is available, and that training is provided where appropriate
  • monitor and respond to business performance including evaluation of performance against key results indicators including profit and loss, community awareness or branding, environmental impact, governance, quality, sales, triple bottom line and the workforce
  • consult, communicate with and report to key stakeholders including business partners, financiers, customers, staff and technical advisers
  • provide an analysis of the strengths and weaknesses of a business plan.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • outline processes for developing business plans
  • describe performance objectives and measures including key performance indicators
  • identify key stakeholders.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the management and leadership field of work and include access to:

  • appropriate documentation and resources normally used in the workplace
  • strategic, business and operational plans
  • business information and data
  • interaction with others.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

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