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.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
1.1 Review and evaluate pre-existing strategic, business and operational plan, if available
1.2 Analyse and interpret business vision, mission, values and objectives
1.3 Consult with key stakeholders
1.4 Review market requirements for the product or service, profile customer needs and research pricing options
1.5 Develop performance objectives and measures through consultation with key stakeholders
1.6 Identify financial, human and physical resource requirements for the business
1.7 Consider any permits or licences that may be required for new activity
1.8 Write business plan
2.1 Communicate business plan to all relevant parties and ensure understanding of performance requirements and timeframes
2.2 Ensure skilled labour is available to implement plan
2.3 Test performance measurement systems and refine, if necessary
2.4 Ensure timely reports on all key aspects of the business are available, user-friendly and balanced in terms of financial and non-financial performance
2.5 Report system failures, product failures and variances to the business plan as they occur
3.1 Analyse performance reports against planned objectives
3.2 Review performance indicators and refine if necessary
3.3 Ensure groups and individuals contributing to under-performance are coached, and provide training where appropriate
3.4 Review system processes and work methods regularly as part of continuous improvement