Elements and Performance Criteria

Business plan may include information on:
Business goals and objectives
Specialist services to be provided or recruited
Legal structure
Statutory and regulatory compliance
Budget forecasts
Marketing strategies
Staffing requirements
Required resources
Management strategies

The comprehensiveness and extent of detailed documentation required in the business plan will depend on a range of factors which may include:
Proposed size and scale of the business
Market focus of the business
Need to raise finance and requirements of lenders
Level of risk involved
Different stages in the development of a business

Policies and procedures may include:
Treatment protocols
Human resources policies
Communication procedures
Emergency procedures
Stock control procedures
Financial procedures
Documentation procedures
Security procedures
Policy and procedure guidelines developed and/or provided by industry associations

In accordance with requirements for the scale of the operation.

Required resources may include:
Physical location
Practice/medical equipment
Staff
Administrative equipment and materials
Communications equipment
Marketing materials

Statutory and regulatory requirements may include local, state and national legislation and regulations affecting business operations such as:
Business registration
Planning and other permissions
Fire, occupational and environmental legislation
Taxation, copyright and trademark regulations
Codes of practice standards
Anti-competition/monopoly and consumer-based legislation
Anti-Discrimination Act
Equal Employment Opportunities Act
Therapeutic Goods Act

Manage the finances of the business includes monitoring and making decisions on:
Current financial state of the clinic (or owner/operator)
Financial performance to date (if applicable)
Likely return on investment
Financial inputs required (sources and forms of finance)
Projections of likely financial results (budgeting)
Risks and measures to manage or minimise risks
Assets

Financial documentation may include:
Banking documentation
Credit transactions
Creditors and debtors systems
Costing procedures
Draft financial forecasts/budgets
Stock records
Petty cash
Asset registers
Payroll records

These will vary in complexity according to the scale of the business and the level of support employed from accountants and financial consultants.

Financial reports may include:
Cash flow forecasts
Budget reports
Reconciliations
Taxation documentation
Profit and loss statements
Detailed ledger accounts

These will vary in complexity according to the scale of the business and the level of support employed from accountants and financial consultants.

Operational strategies may include:
Management and administrative systems and procedures
Office systems
Marketing approaches
Staffing procedures
Daily operation procedures
Environmental strategies

Marketing strategies may include:
Promotional and public relations activities
Development of marketing/promotional materials
Publicity and media relations
Advertising
Pricing strategies

Stock may include:
Materials and equipment required to prepare and dispense medicines
Materials and equipment used in the treatment of clients/patients
Medicinal preparations provided to clients/patients
Stationery and administrative supplies
Information materials provided to clients/patients
Other promotional materials

Support strategies may include:
Setting, reviewing and adjusting goals
Catering to personal limitations
Defining boundaries
Gaining adequate supervision
Maintaining discussions with colleagues
Collegial support group or network
Personal or professional support

Human resource strategies may include:
Recruitment targets, policies and procedures
Training and assessment
Performance management strategies
Personnel documentation
Workplace communications
Planning and facilitation of meetings
Implementation of statutory requirements
Workplace health and safety
Time and stress management
Support networks

These will vary in detail according to number of personnel involved either as practitioner partners or employees

Employee records may include:
Job/position descriptions
Employee records (including tax file number, remuneration, leave and training records, records of disciplinary action, time and wages sheets)
Records of taxation and superannuation payments made
OHS records
Relevant awards and/or industrial agreements.

Manage diversity involves:
Valuing and utilising the different skills, backgrounds and capabilities of self and staff and developing strategies to encourage and enable their effective integration into the business. Diversity may include for example:
Gender
Culture
Language
Network of contact
Work preference
Competencies
Education
Work history

Critical aspects of assessment:
Demonstrated ability to prepare business plans
Demonstrated ability to manage meetings
Knowledge of meeting procedures
Demonstrated ability to prepare cash flow forecasts
Demonstrated ability to accurately record financial transactions
Demonstrated ability to prepare and manage payroll and maintain payroll records
Demonstrated ability to manage finances
Knowledge of stock control methods and procedures
Demonstrated ability to provide clinic guidelines, policies and procedures
Ability to assess human resources appropriate to size/scope of clinic
Ability to assess competencies of clinic staff appropriate to size/scope of clinic
Ability to review clinic job descriptions and hierarchical structures
Ability to review training/career pathway strategies appropriate to size/scope of clinic

Underpinning knowledge and skills:
Knowledge of forms and sources of finance
Knowledge of specialist services available and charges
Knowledge of planning and control systems (sales, advertising and promotion, distribution and logistics)
Knowledge of ATO requirements
Knowledge of various methods producing financial reports, payroll procedures and employee statutory records
Knowledge of industrial awards and agreements
Knowledge of production and planning techniques
Knowledge of effective monitoring systems
Knowledge of business risks and measures to manage or minimise risks
Knowledge of options for meeting human resource requirements and the implications of each option
Knowledge of legal and regulatory aspects of employing or contracting human resources
Knowledge of legal rights and responsibilities
Knowledge of all relevant statutory and regulatory requirements which affect the proposed small business
Knowledge of insurance requirements
Knowledge of contractual rights and responsibilities
Knowledge of record keeping duties
Knowledge of operational factors relating to the business (provision of professional services, products)
Knowledge of key operational concepts and procedures
Knowledge of business systems
Knowledge of methods of monitoring performance
Self awareness skills
Knowledge of support networks
Time management skills

Resource implications:
Resource requirements may include:
An appropriately stocked and equipped clinic
Relevant documentation
Relevant paper-based/video assessment instruments
Appropriate assessment environment
Skilled assessors

Method of assessment:
Assessment may include:
Practical demonstration
Explanations of technique
Oral questioning and discussion

Context of assessment:
This unit is most appropriately assessed in the workplace or in a simulated workplace and under the normal range of work conditions. Assessment may contain both theoretical and practical components and cover a range of aspects of practice management.