Unit of competency
Modification History
Not applicable.
Application
This unit describes the performance outcomes, skills and knowledge required to identify, analyse and implement programs that will provide opportunities for business growth.
This unit applies to senior personnel working in a diverse range of sectors and business contexts. They operate independently and are responsible for making a range of operational business decisions and strategic planning.
No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.
Pre-requisite Unit
Nil
Competency Field
Management and Leadership
Unit Sector
Cross-Sector
Elements and Performance Criteria
ELEMENTS |
PERFORMANCE CRITERIA |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Identify new business opportunities. |
1.1.Review existing operations to identify and analyse new business opportunities. 1.2.Research business trends relevant to the organisation to identify new business opportunities. 1.3.Identify and evaluate opportunities and threats from internal and external environments. 1.4.Consult with stakeholders and customers to seek input into business opportunities. 1.5.Determine organisational capacity to respond to identified opportunities and select opportunities to peruse. |
2. Develop a business development plan. |
2.1.Prepare feasibility studies and reports that assess viability, profitability and sustainability of development opportunities. 2.2.Analyse risks associated with initiatives and ensure compliance with legislative and regulatory requirements. 2.3.Develop and document a business development plan outlining priorities, responsibilities, performance indicators, timelines and budgets. 2.4.Communicate plans to relevant personnel and seek required approval. 2.5.Test business development initiatives for acceptance in the market place. 2.6.Prioritise potential business development opportunities for action. |
3. Implement business development plan. |
3.1.Communicate the business develop plan to relevant stakeholders and personnel. 3.2.Allocate resources to support the delivery of business development opportunities. 3.3.Oversee the roll-out of marketing and communication processes to target markets launching new business initiatives. |
4. Evaluate impact of business development plans. |
4.1.Monitor and evaluate new business initiatives against desired outcomes and performance indicators. 4.2.Review business development plans in line with changing organisational and business requirements. |
Foundation Skills
Foundation skills essential to performance in this unit, but not explicit in the performance criteria are listed here, along with a brief context statement. |
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SKILLS |
DESCRIPTION |
Writing skills to: |
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Numeracy skills to: |
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Problem solving skills to: |
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Initiative and enterprise skills to: |
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Unit Mapping Information
No equivalent unit.
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=ca051b1b-5101-4ec2-ac1c-49699303188d