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Unit of competency details

BSBSMB420 - Evaluate and develop small business operations (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBSMB405 - Monitor and manage small business operations 26/Sep/2018

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 27/Sep/2018


Accredited courses that have this unit in the completion mapping

Training packages that include this unit

CodeTitleSort Table listing Training packages that include this unit by the Title columnRelease
SFI - Seafood IndustrySeafood Industry 1.0 
RII - Resources and Infrastructure Industry Training PackageResources and Infrastructure Industry Training Package 3.0 
RGR - Racing and Breeding Training PackageRacing and Breeding Training Package 3.0 
MSF - Furnishing Training PackageFurnishing Training Package 4.0 
CPP - Property Services Training PackageProperty Services Training Package 9.0 
BSB - Business Services Training PackageBusiness Services Training Package 3.0-5.0 
AMP - Australian Meat Processing Training PackageAustralian Meat Processing Training Package 4.0 
AHC - Agriculture, Horticulture and Conservation and Land Management Training PackageAgriculture, Horticulture and Conservation and Land Management Training Package 3.0-4.0 

Qualifications that include this unit

CodeTitleSort Table listing Qualifications that include this unit by the Title columnRelease
SFI40219 - Certificate IV in Seafood Post Harvest OperationsCertificate IV in Seafood Post Harvest Operations 
SFI40119 - Certificate IV in AquacultureCertificate IV in Aquaculture 
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 
RII40915 - Certificate IV in Drilling OperationsCertificate IV in Drilling Operations 
RGR40419 - Certificate IV in Greyhound Racing IndustryCertificate IV in Greyhound Racing Industry 
RGR30117 - Certificate III in Racing (Greyhound)Certificate III in Racing (Greyhound) 
MSF60118 - Advanced Diploma of Interior DesignAdvanced Diploma of Interior Design 
MSF50218 - Diploma of Interior DesignDiploma of Interior Design 
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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  27/Sep/2018 
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Unit Of competency

Modification History

Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 3.0.

Application

This unit describes the skills and knowledge required to evaluate and develop small business operations.

It applies to individuals who operate a small business which stands alone, or that is part of a department within a larger organisation. Individuals in this role use problem-solving skills and take responsibility for developing approaches to evaluating and developing business operations.

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. Review and evaluate operational strategies and procedures

1.1 Develop a detailed operational plan that sets out clear action points to fulfil on business goals and objectives

1.2 Identify work health and safety (WHS) and environmental issues and implement strategies to minimise risk factors

1.3 Review and evaluate, where appropriate, a quality assurance process for the business in line with industry standards, compliance requirements and cultural criteria

1.4 Develop operational KPIs that align with the business plan

1.5 Align KPIs to business strategies, including utilisation of existing or new technologies, where practicable, to optimise business performance

2. Implement operational strategies and procedures

2.1 Implement systems to evaluate business performance and customer satisfaction, including by setting key performance indicators or targets

2.2 Implement systems to control stock, expenditure or cost, wastage or shrinkage and risks to health and safety in accordance with the business plan, incorporating new digital technologies where possible

2.3 Identify and manage staffing requirements, considering a range of permanent and flexible arrangements, and adhering to budgetary constraints

2.4 Provide goods or services in accordance with established legal, ethical cultural and technical standards

2.5 Provide goods or services in accordance with time, cost and quality specifications, and customer requirements, incorporating new digital technologies where possible

2.6 Apply quality procedures to address product or service and customer requirements

3. Evaluate business performance

3.1 Use digital technologies to regularly evaluate and review achievement of operational targets to ensure optimum business performance, in accordance with business goals and objectives

3.2 Review and document systems and structures, with a view to more effectively supporting business performance

3.3 Investigate and analyse operating problems to establish causes and implement changes as required, as part of the business quality system

3.4 Update operational policies and procedures to incorporate corrective action

4. Review business operations

4.1 Review and adjust business operations to increase business success, in accordance with business goals and objectives

4.2 Research new and emerging digital technologies periodically, implementing as relevant, in accordance with business goals and objectives

4.3 Undertake ongoing research into new business opportunities and adjust business goals and objectives as new business opportunities arise

Foundation Skills

This section describes those language, literacy, numeracy and employment skills that are essential to performance but not explicit in the performance criteria.

Skill 

Description 

Reading

  • Evaluates complex text to determine legislative, regulatory and workplace documentation

Writing

  • Prepares written reports and workplace documentation that communicate complex information clearly and effectively

Oral Communication

  • Articulates clearly using specific and relevant language suitable to audience to convey requirements, and employs listening and questioning techniques to confirm understanding

Numeracy

  • Interprets numerical information to manage performance information and regulate cash flow

Navigate the world of work

  • Evaluates adherence to organisational policies and procedures and considers own role for its contribution to broader goals of the work environment
  • Appreciates implications of legal and regulatory responsibilities related to own work with specific reference to safety

Get the work done

  • Reflects on how digital systems and tools are used or could be used to achieve work goals, and begins to recognise strategic and operational applications
  • Identifies concepts, principles and features of approaches in use in other contexts and considers how these may suit own situation
  • Develops plans to manage relatively complex, non-routine tasks with an awareness of how they may contribute to longer-term operational and strategic goals
  • Uses each experience to reflect on how variables impact decision outcomes, and to gain insights into what constitutes an effective decision in different contexts

Unit Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBSMB420 Evaluate and develop small business operations

BSBSMB405 Monitor and manage small business operations

Updates to title, elements, performance criteria and assessment requirements

Equivalent unit

Links

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

 

Assessment requirements

Modification History

Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 3.0.

Performance Evidence

Evidence of the ability to:

  • develop strategies and procedures to successfully manage business operations, including:
  • developing an operational plan
  • identifying risk management procedures
  • developing a quality assurance process
  • developing and implementing performance measures
  • utilising existing, new and emerging digital technologies to optimise business performance
  • implement and evaluate strategies and procedures developed, including:
  • controlling stock, expenditure, and work health and safety risks
  • identifying and meeting staffing requirements
  • analysing and correcting business problems
  • reviewing and adjusting the business plan
  • record and research business improvements, including the potential to implement new and emerging digital technologies
  • make appropriate adjustments to business operations as required.

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

Knowledge Evidence

The candidate must be able to demonstrate the following knowledge to effectively complete the tasks outlined in the elements and performance criteria of this unit, and to manage tasks and reasonably foreseeable contingencies in the context of the work role.

  • Key features of relevant legislation and industry codes of practice
  • Key features of methods for implementing operation and revenue control systems
  • Key features of methods for evaluating performance and implementing improvements
  • Key features of work health and safety (WHS) responsibilities and procedures for managing hazards
  • Key features of relevant principles of risk management, including risk assessment
  • Key features of quality assurance system principles and methods
  • Key features of the role of digital technologies and innovation in modern business
  • Key features of systems to manage staff, stock, expenditure, services and customer service
  • Key features of required technical or specialist skills relevant to business operations.

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:

  • business equipment and resources, including business technology
  • relevant legislation, regulations, standards and codes
  • relevant workplace documentation and resources
  • case studies or 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.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10