Modification History
Not applicable.
Unit Descriptor
Unit descriptor |
This unit describes the performance outcomes, skills and knowledge required to research and develop an integrated business plan for achieving business goals and objectives. Specific legal requirements apply to the management of a small business. |
Application of the Unit
Application of the unit |
This work is undertaken by individuals who operate a small business. This unit is suitable for micro and small businesses or a department in a larger organisation. |
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. Identify elements of the business plan |
1.1. Identify purpose of the business plan 1.2. Identify and review the essential components of the business plan 1.3. Identify and document business goals and objectives as a basis for measuring business performance |
2. Develop a business plan |
2.1. Research resources, legal and compliance requirements, specifically in relation to occupational health and safety (OHS ), in accordance with business goals and objectives 2.2. Research market needs, and market size and potential 2.3. Identify sources and costs of finance, from the financial plan , to provide required liquidity and profitability for the business 2.4. Identify methods, from the marketing strategies , to promote the market exposure of the business 2.5. Identify methods/means of production/operation from the production /operations plan to conform with business goals and objectives 2.6. Identify staffing requirements to effectively produce/deliver products/services 2.7. Identify specialist services and sources of advice, where required, and cost in accordance with resources available |
3. Develop strategies for minimising risks |
3.1. Identify specific interests and objectives of relevant people and seek and confirm their support of the planned business direction 3.2. Identify and develop risk management strategies according to business goals and objectives, and relevant legal requirements 3.3. Develop contingency plan to address possible areas of non-conformance with the plan |
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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Business plan may include: |
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Business goals and objectives may include: |
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Occupational health and safety issues must include: |
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Financial plan may include: |
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Marketing strategies may include: |
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Production /operations plan may include: |
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Staffing requirements may include: |
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Specialist services may include: |
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Relevant people may include: |
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Risk management strategies may include: |
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Risk management strategies must include: |
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Contingency plan may include: |
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Unit Sector(s)
Unit sector |
Competency field
Competency field |
Management and Leadership - Small and Micro Business |
Co-requisite units
Co-requisite units |
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