Unit of competency details

BSBSMB201 - Identify suitability for micro business (Release 2)

Summary

Releases:
ReleaseStatusRelease date
2 (this release)Current 14/Jan/2016
(View details for release 1) Replaced25/Mar/2015

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBSMB201A - Identify suitability for micro businessUpdated to meet Standards for Training Packages 24/Mar/2015


Training packages that include this unit

Qualifications that include this unit

CodeTitleSort Table listing Qualifications that include this unit by the Title columnRelease
CUA40615 - Certificate IV in Aboriginal and Torres Strait Islander Cultural ArtsCertificate IV in Aboriginal and Torres Strait Islander Cultural Arts 
CUA31115 - Certificate III in Visual ArtsCertificate III in Visual Arts 
CUA30515 - Certificate III in Aboriginal and Torres Strait Islander Cultural ArtsCertificate III in Aboriginal and Torres Strait Islander Cultural Arts 
CUA20715 - Certificate II in Visual ArtsCertificate II in Visual Arts 
CUA20615 - Certificate II in Music IndustryCertificate II in Music Industry 
CUA20415 - Certificate II in Aboriginal and Torres Strait Islander Cultural ArtsCertificate II in Aboriginal and Torres Strait Islander Cultural Arts 
BSB42615 - Certificate IV in New Small BusinessCertificate IV in New Small Business 
BSB30315 - Certificate III in Micro Business OperationsCertificate III in Micro Business Operations 
BSB20115 - Certificate II in BusinessCertificate II in Business 
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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 

Release 2

This version released with BSB Business Services Training Package Version 2.0.

Version created to clarify intent of unit.

Release 1

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

Application

This unit describes the skills and knowledge required to undertake self-evaluation to determine whether identified business opportunities are realistic.

It applies to individuals who critically examine potential business ideas by identifying gaps in the marketplace.

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

Unit Sector

Management and Leadership – Small and Micro 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. Explore potential business ideas

1.1 Identify products and services available from micro and small businesses

1.2 Identify products and services not available in the existing market

1.3 Determine opportunities for new micro businesses based on gaps in available goods and services

1.4 Identify and utilise a range of sources to gather information about micro business opportunities identified

1.5 Outline processes to be undertaken by the micro business to provide products or services

2. Compare personal skills and aspirations with micro business opportunities

2.1 Identify personal reasons for entering into a micro business in realistic terms of own personal commitments, expectations and capabilities

2.2 Match personal capabilities realistically with identified business opportunities

2.3 Examine personal commitments, expectations and capabilities to realistically identify impact on preferred business opportunity

2.4 Examine options to address and minimise negative impact and strengthen positive impact of these aspects

3. Access business learning opportunities, mentoring and advice

3.1 List skills and knowledge required to develop and operate, to maximise the business opportunity

3.2 Identify and interpret business information and terminology

3.3 Identify gaps in personal skills and knowledge needed for the business

3.4 Identify appropriate learning opportunities to rectify gaps in personal skills and knowledge

3.5 Identify potential mentors, advisors, networks and sources of assistance for the business

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 

Learning

2.4, 3.3-3.5

  • Analyses skills gaps and development needs to identify professional learning needs
  • Identifies appropriate development opportunities to achieve learning goals

Reading

1.1, 1.4, 3.2

  • Interprets textual and numerical information to determine business requirements

Writing

3.1

  • Uses clear and relevant language to convey personal information, requirements and recommendations

Oral Communication

1.4, 3.5

  • Articulates clearly and confidently using specific and relevant language suitable to audience

Numeracy

3.2

  • Extracts, evaluates and compares numerical information

Navigate the world of work

2.1, 2.2, 2.4

  • Regularly reviews current situation and future business options, developing strategies to address some factors that may limit choices

Interact with others

1.4, 3.5

  • Establishes rapport and builds relationships with people who can assist with new business opportunities

Get the work done

1.1-1.4, 2.2, 2.3

  • Selects or supports new ideas on basis of their contribution to achievement of broader goals
  • Makes final decisions using clear priorities and criteria
  • May operate from a broad conceptual plan, developing operational detail in stages, regularly reviewing priorities and performance during implementation

Unit Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBSMB201 Identify suitability for micro business

Release 2

BSBSMB201 Identify suitability for micro business

Release 1

Minor edits to clarify intent of unit

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 

Release 2

This version released with BSB Business Services Training Package Version 2.0.

Version created to clarify intent of unit

Release 1

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

Performance Evidence

Evidence of the ability to:

  • identify and determine micro business opportunities by locating existing market gaps
  • demonstrate effective matching of personal attributes with micro business opportunities, and identification of personnel and skill development opportunities
  • collaborate with others to identify mentors, advisors and networks to assist micro businesses.

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:

  • list the four main business structures used by businesses in Australia
  • summarise the business fundamentals that make an idea a viable business proposition
  • explain business benchmarking
  • describe personal attributes needed to run a successful small business
  • explain differences between micro business and large corporations
  • identify three training courses or support services available to micro business operators.

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 – Small and Micro Business field of work and include access to:

  • relevant legislation, regulations, standards and codes
  • internet access to research existing market
  • relevant workplace documentation and resources
  • case studies or where possible, real situations
  • interaction with others.

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

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