BSBSMB301 - Investigate micro business opportunities

Unit code: BSBSMB301 | Study level: TAFE

Nominal hours:

Location

Footscray Nicholson

Industry

Sunshine

Werribee

Prerequisites

N/A

Overview

This unit describes the skills and knowledge required to consider the major elements of a business idea, undertake research to determine viability of the business opportunity and present the idea with reference to the legislative frameworks affecting the business.

Assessment

For Melbourne campuses

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:

research and analyse information from a range of sources to investigate a business opportunity;
review data for potential impact on the market, products, services and customers, and;
match products and services to the business opportunity.

Students will also be expected to demonstrate the following knowledge:

locate and outline legislation and regulation relevant to specific micro business opportunities being investigated;
identify sources of specialist advice on trends in new and emerging markets and decline and risk factors;
summarise benefits and challenges of digital technologies relevant to micro business opportunities, and;
describe appropriate business research methods and data collection tools and software.

Required reading

The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by the Polytechnic and/or via the Polytechnic e-learning system.