Modification History
Not applicable.
Unit Descriptor
Unit descriptor |
This unit describes the performance outcomes, skills and knowledge required to run a business operation and covers the steps required to develop and implement a business plan. No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement. |
Application of the Unit
Application of the unit |
This unit 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. Business plans are critical tools for business growth and development. They will vary depending on the needs of the organisation. This unit covers the typical elements of a business plan and the standard approaches to be used in implementing a business plan. The business plan should be supported by a strategic plan, and may also be supported by a marketing plan and cash flow forecasts. |
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
Elements describe the essential outcomes of a unit of competency. |
Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
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 |
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 |
Evidence of the following is essential:
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Context of and specific resources for assessment |
Assessment must ensure:
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Method of assessment |
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
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Guidance information for assessment |
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
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Range Statement
RANGE STATEMENT |
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The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included. |
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Strategic , business and operational plan may include: |
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Key stakeholders may include: |
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Performance objectives and measures may relate to: |
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Business plan includes: |
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Coaching refers to: |
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Unit Sector(s)
Unit sector |
Competency field
Competency field |
Management and Leadership - Management |
Co-requisite units
Co-requisite units |
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