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 research and develop an integrated business plan for achieving business goals and objectives.
It applies to individuals who operate a small business that operates independently, or as part of a larger organisation. Individuals in this role interpret business information and numerical data competently.
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. Identify elements of the business plan |
1.1 Identify purpose of the business plan 1.2 Identify and review 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 work health and safety (WHS), 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 financial plan, to provide required liquidity and profitability for the business 2.4 Identify methods, from marketing strategies, to promote market exposure of the business 2.5 Identify methods or means of production or operation from production or operations plan to conform with business goals and objectives 2.6 Identify staffing requirements to effectively produce or deliver products and services 2.7 Identify, assess and prioritise internal and external risks 2.8 Identify specialist services and sources of advice, where required, and cost in accordance with available resources |
3. Develop strategies for minimising risks |
3.1 Identify specific interests and objectives of relevant people and seek and confirm their support of planned business direction 3.2 Identify and develop risk management strategies according to business goals and objectives, and relevant legal requirements 3.3 Develop a contingency plan to address possible areas of non-conformance with the plan |
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 |
Reading |
1.1-1.3, 2.1-2.7, 3.1, 3.2 |
|
Writing |
1.3, 2.3-2.7, 3.1-3.3 |
|
Oral Communication |
1.1, 3.1 |
|
Numeracy |
2.2, 2.3, 2.5-2.7 |
|
Navigate the world of work |
2.1, 3.2 |
|
Interact with others |
3.1 |
|
Get the work done |
1.1, 1.2, 2.1-2.7, 3.2, 3.3 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
BSBSMB404 Undertake small business planning Release 2 |
BSBSMB404 Undertake small business planning Release 1 |
Updated to clarify intent |
Equivalent unit |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10