Release 

Comments 

Version 1

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

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

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

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

Release 

Comments 

Version 1

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