Unit of competency Outline

Date retreived
22/07/2026 10:21 PM AWST

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Plan small business growth

Plan small business growth

Unit of competency
National Code
BSBSMB416
State Code
AWF74
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
14/01/2016
View on TGA
State Implementation and Classification
Approved Date
05/07/2016
Field of Education
080301 - Business Management
Original Release Date
05/07/2016
Nominal Hours
35
Description
This unit describes the skills and knowledge required to research and develop a plan for achieving business growth.It applies to individuals who run a small business that operates independently, or as part of a larger organisation. Individuals in this role interpret business information and numerical data competently and are skilled communicators.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Determine growth objectives
  • 1.1 Clarify reasons for pursuing growth
  • 1.2 Identify key areas for growth
  • 1.3 Review current business plan and establish new goals and objectives
2. Identify options for pathways to growth
  • 2.1 Assess the suitability of main options to pursue growth including market penetration, product development, market development and diversification
  • 2.2 Investigate funding options to support business growth
  • 2.3 Analyse the business capacity to manage growth including legal and compliance implications and disruption to existing business
  • 2.4 Determine the risks, challenges and benefits of chosen pathways
3. Develop a strategy for growth
  • 3.1 Research selected growth options and tactics to determine potential return on investment
  • 3.2 Consider the role of the business owner and determine any adjustments to the function, structure and roles of business personnel required
  • 3.3 Consult specialist services and sources of advice
  • 3.4 Prepare a business case for growth in a suitable format for stakeholders
  • 3.5 Identify specific interests and objectives of relevant people and seek and confirm their support of planned business growth
  • 3.6 Integrate growth strategy into business, operational, marketing strategic, financial and production plans where relevant
No information
No information
Replaced By
State Code National Code Title Type
OAE52 BSBSMB422 Plan small business growth Unit of competency
State Code National Code Title Type
AZI9 BSB42515 Certificate IV in Small Business Management Qualification