Unit of competency Outline
Date retreived
23/07/2026 1:30 AM AWST
23/07/2026 1:30 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Seize a business opportunity
Seize a business opportunity
Unit of competency
National Code
WRWMK405A
WRWMK405A
State Code
N0758
N0758
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
30/05/2003
Field of Education
080301 - Business Management
Original Release Date
30/05/2003
Nominal Hours
30
Description
Notes
Elements and Performance Criteria
No information
The Range of Variables statement provides details of the scope of the Elements and Performance Criteria to allow for differences within enterprises and workplaces, including practices, knowledge and requirements. The Range of Variables also provides a focus for assessment and relates to the unit as a whole. The variables listed should be considered indicative rather than exhaustive and should be used as applicable to the job role or function.
General Contexts may include but are not limited to
Type of products and services provided
Business policy and procedures with regard to the acquisition and sale of products and services
Size, type and location of business
Business merchandise range
Strategic measurement and evaluation systems and processes
Characteristics of the specific product(s) or service(s)
Management structure and communication relationships
Business service range
Customers including other businesses or end consumers serviced through business customers or directly
Varying levels of staff training
Worksite specific context, variations and environments
Workplace Contexts may include but are not limited to
Workplace-specific guidelines, policies and practices
Conditions of service, legislation and industrial agreements
Consultative processes may involve
Staff members
Teams
Management
Union representatives
Industrial relations, Occupational Health & Safety specialists
Other professional or technical staff
Relevant personnel may vary with context, level of employment, ascribed duties, nature of enquiry or response required.
Applicable State/ Territory/ Commonwealth regulations and legislation may include but are not limited to
Occupational Health and Safety
Workplace relations
Workers compensation
Industry codes of practice
License, patent or copyright arrangements
Environmental protection legislation
Equal Employment Opportunity and anti-discrimination law
Emergency procedures
Transport, storage and handling of goods
Goods and Services Tax
Australian Competition and Consumer Commission provisions
Trade Practices Act
Sources of information may include but are not limited to
Legislation and regulations
Work procedures and internal manuals
Company operating procedures and instructions
Manufacturer's specifications
Supplier and/ or customer instructions
Manifests
Codes of practice
Quality assurance systems, procedures and policies
Awards, workplace agreements, and other industrial arrangements
Oral/ verbal communication including face to face, telephone, Internet, radio, and such like
Written instructions and communication such as data exchange, letters, e-mails
Non-verbal communication
Feedback
Safety instructions and workplace signage
Direct or indirect
Electronic or hard copy
Policy and protocols
Work site environment factors may include but are not limited to
Key elements of a commercial strategy may include
Consultation with key stakeholder
Expenditure budget meets organisational requirements for probity
Procurement process agreed by users, documented, and meets legal and probity requirements
Approvals obtained
Contractual arrangements that capture and address identified risks, protection of all parties, and include performance indicators which provide the basis for due performance
Market assessment may include
Structure of and 'players' in the market
Market capability
Market maturity
Market strength
Factors/ conditions which may affect supply
Potential impact of intended contracting activity
Types of plans may include but not be limited to
Sales
Marketing
Strategic
Business
Purchasing/ procurement
Disposal
Human resource
Public relations
Contingency
Risk management
Environmental
Business outcomes may include
Key performance indicators
Strategic objectives
Price
Market and sales indicators
Brand value
Quality standards and criteria
Performance benchmarks
Milestones
Evaluation of options may include
Stakeholder consultation
Confirmation that a procurement process is necessary
Development of a business case
Modelling results
Cost benefit analysis
Data analysis
Comparison of internal versus outsourced provision
Whether to buy or lease
Special expertise and advice sources may include
Internal or external experts on:
Legal
Financial
Trade
Economics
Technical and scientific
Probity
Other as required
Types of standards, performance benchmarks or specifications may include
Australian Standards
International Standards
Professional standard
Industry standards
Performance indicators
Quality measures and criteria
Planning milestones and timeframes
Design brief
Manufacturers' and suppliers' standards
Markets may include
Local
National
Regional
International
Promotional, advertising and marketing campaigns may vary to accommodate regional variations in
Demographics
Economics
Competition
Social/ cultural forces
Political/ legal forces
Natural forces
Technology
Documents and records may include
Purchase requests and orders
Tender submissions and proposals
Invoices and payment requests
Statements and petty cash vouchers
Offer and contract documents
Evaluation process documentation
Records of authorised officers' decisions
Corporate credit card transaction statements
Records of supplier performance
Financial statements
Asset registers
Records of conversation
General Contexts may include but are not limited to
Type of products and services provided
Business policy and procedures with regard to the acquisition and sale of products and services
Size, type and location of business
Business merchandise range
Strategic measurement and evaluation systems and processes
Characteristics of the specific product(s) or service(s)
Management structure and communication relationships
Business service range
Customers including other businesses or end consumers serviced through business customers or directly
Varying levels of staff training
Worksite specific context, variations and environments
Workplace Contexts may include but are not limited to
Workplace-specific guidelines, policies and practices
Conditions of service, legislation and industrial agreements
Consultative processes may involve
Staff members
Teams
Management
Union representatives
Industrial relations, Occupational Health & Safety specialists
Other professional or technical staff
Relevant personnel may vary with context, level of employment, ascribed duties, nature of enquiry or response required.
Applicable State/ Territory/ Commonwealth regulations and legislation may include but are not limited to
Occupational Health and Safety
Workplace relations
Workers compensation
Industry codes of practice
License, patent or copyright arrangements
Environmental protection legislation
Equal Employment Opportunity and anti-discrimination law
Emergency procedures
Transport, storage and handling of goods
Goods and Services Tax
Australian Competition and Consumer Commission provisions
Trade Practices Act
Sources of information may include but are not limited to
Legislation and regulations
Work procedures and internal manuals
Company operating procedures and instructions
Manufacturer's specifications
Supplier and/ or customer instructions
Manifests
Codes of practice
Quality assurance systems, procedures and policies
Awards, workplace agreements, and other industrial arrangements
Oral/ verbal communication including face to face, telephone, Internet, radio, and such like
Written instructions and communication such as data exchange, letters, e-mails
Non-verbal communication
Feedback
Safety instructions and workplace signage
Direct or indirect
Electronic or hard copy
Policy and protocols
Work site environment factors may include but are not limited to
Key elements of a commercial strategy may include
Consultation with key stakeholder
Expenditure budget meets organisational requirements for probity
Procurement process agreed by users, documented, and meets legal and probity requirements
Approvals obtained
Contractual arrangements that capture and address identified risks, protection of all parties, and include performance indicators which provide the basis for due performance
Market assessment may include
Structure of and 'players' in the market
Market capability
Market maturity
Market strength
Factors/ conditions which may affect supply
Potential impact of intended contracting activity
Types of plans may include but not be limited to
Sales
Marketing
Strategic
Business
Purchasing/ procurement
Disposal
Human resource
Public relations
Contingency
Risk management
Environmental
Business outcomes may include
Key performance indicators
Strategic objectives
Price
Market and sales indicators
Brand value
Quality standards and criteria
Performance benchmarks
Milestones
Evaluation of options may include
Stakeholder consultation
Confirmation that a procurement process is necessary
Development of a business case
Modelling results
Cost benefit analysis
Data analysis
Comparison of internal versus outsourced provision
Whether to buy or lease
Special expertise and advice sources may include
Internal or external experts on:
Legal
Financial
Trade
Economics
Technical and scientific
Probity
Other as required
Types of standards, performance benchmarks or specifications may include
Australian Standards
International Standards
Professional standard
Industry standards
Performance indicators
Quality measures and criteria
Planning milestones and timeframes
Design brief
Manufacturers' and suppliers' standards
Markets may include
Local
National
Regional
International
Promotional, advertising and marketing campaigns may vary to accommodate regional variations in
Demographics
Economics
Competition
Social/ cultural forces
Political/ legal forces
Natural forces
Technology
Documents and records may include
Purchase requests and orders
Tender submissions and proposals
Invoices and payment requests
Statements and petty cash vouchers
Offer and contract documents
Evaluation process documentation
Records of authorised officers' decisions
Corporate credit card transaction statements
Records of supplier performance
Financial statements
Asset registers
Records of conversation
The following components of the Evidence Guide relate directly to the Performance Criteria and the Range of Variables for the unit of competency and will inform and provide guidance for assessment of the unit in the workplace and/or training program. This Evidence Guide must be read in conjunction with the Assessment Guidelines for the National Wholesale Training Package.
Critical aspects of evidence
Assessment requires evidence of the following be collected:
Evaluative and analytic reports on business opportunities
Advocate and secure support for business opportunity
Evaluation of a range of potential new business opportunities
Reports on return on investment or other advantages to be secured through a business opportunity
Investigative and research on a business opportunity
Quality of research and recommendations based on success of a business opportunity
Interdependent assessment of units
Consideration should be given to completing this unit, prior to, or in conjunction with,
WRWFN402A Manage Operations to Budget.
Underpinning knowledge and skills
Display knowledge in terms of job role or function:
Techniques to identify and capture business opportunities
Market trends and forecasts
Marketing mix
Market information, systems and research
Product development cycle
Price adjustment strategies
Business policy and procedures
Risk factors within specific markets
Planning integration of development and maintenance functions
Logistics
Determining customer behaviour, needs, expectations and satisfaction levels
Awareness of relevant industrial or legislative requirements
Occupational health and safety aspects of job
Relevant commercial law and legislation
Display skills in terms of job role or function, including the ability to:
Expand knowledge of markets
Recognise expanded opportunities with suppliers and customers
Investigate opportunities
Determine market and financial viability
Identify and assess risks
Determine options for proceeding with a plan
Make decisions regarding viability of opportunities
Secure approval
Resource Implications
Access to required assessment evidence, time spent with assessee in assessment, competency outcomes and appropriate assessment facilities.
Consistency in performance
The assessment method should be conducted over time to cover all elements and performance criteria, across a range of variables.
Work practices should be completed in accordance with safe operating procedures to minimise the risk of injury to self or others or damage to goods, equipment or products.
Context for assessment
Assessment may occur on the job, or off-the-job.
Critical aspects of evidence
Assessment requires evidence of the following be collected:
Evaluative and analytic reports on business opportunities
Advocate and secure support for business opportunity
Evaluation of a range of potential new business opportunities
Reports on return on investment or other advantages to be secured through a business opportunity
Investigative and research on a business opportunity
Quality of research and recommendations based on success of a business opportunity
Interdependent assessment of units
Consideration should be given to completing this unit, prior to, or in conjunction with,
WRWFN402A Manage Operations to Budget.
Underpinning knowledge and skills
Display knowledge in terms of job role or function:
Techniques to identify and capture business opportunities
Market trends and forecasts
Marketing mix
Market information, systems and research
Product development cycle
Price adjustment strategies
Business policy and procedures
Risk factors within specific markets
Planning integration of development and maintenance functions
Logistics
Determining customer behaviour, needs, expectations and satisfaction levels
Awareness of relevant industrial or legislative requirements
Occupational health and safety aspects of job
Relevant commercial law and legislation
Display skills in terms of job role or function, including the ability to:
Expand knowledge of markets
Recognise expanded opportunities with suppliers and customers
Investigate opportunities
Determine market and financial viability
Identify and assess risks
Determine options for proceeding with a plan
Make decisions regarding viability of opportunities
Secure approval
Resource Implications
Access to required assessment evidence, time spent with assessee in assessment, competency outcomes and appropriate assessment facilities.
Consistency in performance
The assessment method should be conducted over time to cover all elements and performance criteria, across a range of variables.
Work practices should be completed in accordance with safe operating procedures to minimise the risk of injury to self or others or damage to goods, equipment or products.
Context for assessment
Assessment may occur on the job, or off-the-job.
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| S6164 | SIRXMPR005A | Seize a business opportunity | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| N083 | WRW40101 | Certificate IV in Wholesale Management | Qualification |