Application

This unit describes the skills and knowledge required to lead a business operation that covers the steps required to develop and implement business plans.
The unit applies to individuals who are running an organisation or who take a senior role in determining the effective functioning and success of the organisation. These individuals may oversee the work of a number of teams and other managers.
No licensing, legislative or certification requirements apply to this unit at the time of publication.

What You'll Learn

Assessment Requirements

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:
• develop and implement at least one business plan.
In the course of the above, the candidate must:
• analyse and research business vision, mission, values, objectives, goals, competitors, financial targets, management arrangements and marketing approaches
• write a business plan, including:
• description of the business
• products and services
• financial, physical and human resource requirements
• regulatory requirements
• marketing strategy
• financial indicators
• productivity and performance targets for key result areas
• monitor and respond to business performance including evaluation of performance against key results indicators
• consult, communicate with and report to relevant stakeholders
• provide analysis of the strengths and weaknesses of a business plan.

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:
• organisational and legislative frameworks required for the development of business plans, including:
• pre-existing strategic, business and operational plans
• business vision, mission, values and objectives
• permits or licences that may be required for new activity
• processes for developing and monitoring business plans
• customer needs and budgeting information
• performance objectives and measures, including key results indicators
• stakeholders involved in the development of business plans.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
This includes access to:
• business information and data relevant to performance evidence.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Foundation Skills

• {'skill': 'Reading', 'description': 'Gathers, interprets and analyses textual information when developing the business plan and monitoring operational performance'}
• {'skill': 'Writing', 'description': 'Communicates relationships between ideas and information, matching style of writing to purpose and audience; Researches, plans and prepares business plan for relevant stakeholders'}
• {'skill': 'Oral communication', 'description': 'Presents information and seeks advice using language and features appropriate to audience; Participates in discussions using listening and questioning to elicit the views of others and to clarify or confirm understanding'}
• {'skill': 'Numeracy', 'description': 'Extracts and evaluates mathematical information to review the market, research competitors and review pricing structures'}
• {'skill': 'Enterprise and initiative', 'description': 'Takes full responsibility for identifying and complying with legislative requirements applicable to self and the organisation'}
• {'skill': 'Teamwork', 'description': 'Collaborates with others to achieve joint outcomes, playing an active role in facilitating effective group interaction, influencing direction and taking a leadership role; Provides support in field of expertise to colleagues, as required'}
• {'skill': 'Planning and organising', 'description': 'Sequences and schedules complex activities, monitors implementation and manages relevant communication; Systematically gathers and analyses all relevant information and evaluates options in order to monitor performance and identify opportunities for improvement'}

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