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 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.

1. Identify a product or service of your choice for your business plan.

2. Undertake research for the business plan.

You must consider:

• Any relevant organisational or legislative frameworks
• Business vision, mission, and values
• Business requirements
• Market requirements
• Competitor information
• Pricing information.

3.Using the information that you have gathered in the previous questions, develop and write business plan.

The plan must include:

• Description of the business
• Products and services
• Financial, human, and physical resources
• Relevant legislation
• Marketing
• Budgets

4a. Prepare presentation to present the business plan that you developed in Question 3 to the stakeholders.

Within your presentation, you must:

• Explain the information in the business plan
• Answer any questions
• Confirm that labour is available for implementation.

4b. Explain information to a small group of peers who are playing the role of team members.

You must identify an ongoing review process and explain it to the group in a 5-10 minute meeting. (please provide a sample roleplay script)

You must:

• Explain the review process
• Inform them of the frequency of reviews
• Answer any questions.

Note: Both of these activities must be done in a role play. First is the business plan and second, informing them about the review process.

5. Identify two key aspects of the business and prepare performance report for each of them to determine current performance.

The reports must include:

• An executive summary
• Main body
• Findings.

6. Following on from Question 5, use the reports you developed and compare your findings on current performance with planned performance and determine what changes need to be made.

Write short summary to include:

• Identification of any variances between current performance and planned objectives
• Reporting of any system, product or service failures
• A review of performance indicators and any refinements necessary