This unit describes the skills and knowledge required to run a business operation and covers the steps required to develop and implement a business plan. It applies to individuals who are running an organisation or who take a senior role in determining the effective functioning and success of the organisation. As such, they may oversee the work of a number of teams and other managers. 

Unit details

Location:
Study level:
Vocational and further education (TAFE)
Unit code:
BSBMGT617

Assessment

Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each unit's learning outcomes and performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines. Students will be expected to demonstrate the following required skills: - analyse and research business vision, mission, values, objectives, goals, competitors; - financial targets, management arrangements, marketing approaches and strategic, business and operational plans; - write a business plan which includes a description of the business, products and services,financial, physical and human resource requirements, permit and licence requirements, marketing activity, financial indicators, productivity and performance targets for key result areas; - implement a business plan including ensuring skilled labour is available, and that training is provided where appropriate; - monitor and respond to business performance including evaluation of performance against key results indicators including profit and loss, community awareness or branding, environmental impact, governance, quality, sales, triple bottom line and the workforce; - consult, communicate with and report to key stakeholders including business partners, financiers, customers, staff and technical advisers, and; - provide an analysis of the strengths and weaknesses of a business plan. Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.Students will also be expected to demonstrate the following knowledge: - outline processes for developing business plans; - describe performance objectives and measures including key performance indicators, and; - identify key stakeholders.

Where to next?

As part of a course

This unit is studied as part of the following courses. Refer to the course page for information on how to apply for the course.

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