Unit of competency Outline

Date retreived
22/07/2026 3:21 PM AWST

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Lead research into identifying new marketplace opportunities

Lead research into identifying new marketplace opportunities

Unit of competency
National Code
ICTICT801
State Code
AUU77
TGA Status
Deleted
DTWD Status
Deleted
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
080505 - Marketing
Original Release Date
16/09/2015
Nominal Hours
80
Description
This unit describes the skills and knowledge required to lead the research, evaluation and recommendation of new organisational initiatives, based on perceived marketplace opportunities.It applies to individuals who work as strategic business analysts in medium to large organisations in senior roles, who lead new business initiatives and transformation.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Direct the research into the organisation’s business domain
  • 1.1 Research the sectors in the relevant industry for trends that may yield viable business opportunities
  • 1.2 Research business initiatives undertaken by competitor organisations, to address the same or similar opportunities, and analyse the resources required to undertake such initiatives or project opportunities
  • 1.3 Identify the strategies for realising identified business initiatives, including sub-contracting of suitable elements, where applicable
  • 1.4 Research the legal, environmental and social implications of the identified initiatives
2. Evaluate the new business initiatives
  • 2.1 Initiate, and oversee, the market research for potentially viable, identified business opportunities
  • 2.2 Gauge the likely impacts of candidate initiatives on the business enterprise, including specific legal, financial and transformational implications
  • 2.3 Critically evaluate the delivery strategies for anticipated products, or services, stemming from candidate initiatives
3. Explore the feasibility of the new initiatives
  • 3.1 Formulate the selection criteria, based on the strategic business objectives
  • 3.2 Facilitate a feasibility study, including a cost benefit analysis
  • 3.3 Select the most feasible option against the selection criteria
  • 3.4 Recommend the preferred initiative
No information
No information
Replaces
State Code National Code Title Type
D7907 ICAICT701A Lead research into identifying new marketplace opportunities Unit of competency