Elements and Performance Criteria

RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Business ideas may be influenced by:
amount and type of finance available
cultural, family and/or community expectations
expected financial viability
finance required
lifestyle sought
number and type of competitors
returns expected or required by owner
skills of owner/operator
Appropriate sources may include:
Aboriginal and cultural councils and incorporated bodies
accountants
Australian Bureau of Statistics
business advisory services
business brokers
business consultants
business incubators
business mentors and peers
current affairs
databases
financial institutions
government agencies set up to provide and assist business development for example Indigenous Business Australia (IBA), Business Entry Point (www.business.gov.au)
industry/trade associations
internet
lawyers and providers of legal advice
local councils
friends, family and community
market research publications
national and international publications
online gateways
role models and other successful businesses
training providers
Customer information may include:
customer characteristics
marketing issues to meet needs
specialised needs of customers
Primary sources may include:
group interviews
market testing a segment of the market
interviews (face-to-face and telephone)
observation
questionnaires
samples
surveys
Secondary sources may include:
chambers of commerce data
data held by research and industry specific organisations
polls published by advertising and media companies
published government statistics
university databases
Ethical and cultural requirements may include:
codes of practice
cultural expectations and influences
ethical principles
government policies and guidelines
societal expectations
social responsibilities, for example protection of children, environmental issues
New and emerging markets may include:
e-commerce
export market
niche or segment of the market not currently penetrated
Trends and developments may include:
changes in technology
demographic trends
ecological/environmental trends
economic trends (local, regional, national, international)
government activities, fro example interest rates, deregulation
industrial trends
social and cultural factors

EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the following is essential:
thorough investigation of business opportunities and ideas
clearly identified products/services and customer information for each business idea
thorough collection and analysis of market information and associated factors relating to business ideas
knowledge of ethical and cultural requirements.
Context of and specific resources for assessment
Assessment must ensure:
access to relevant documentation
candidate's individual circumstances and work in the context of establishing or running a micro business, are the basis for assessment.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
portfolio of evidence relating to the development of the candidate's own business idea
review of report on an existing micro or small business known to the candidate
oral or written questioning to assess knowledge of research methods and data collection tools
review of market information gathered to identify possible market needs in relation to business ideas
assessment of reviewof trends and developments and their potential impact on business ideas.
Guidance information for assessment
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
BSBSMB302A Develop a micro business proposal.