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BSBSMB405A

Monitor and manage small business operations

Unit Descriptor This unit describes the performance outcomes, skills and knowledge required to operate a small business and to implement a business plan. The strategies involve monitoring, managing and reviewing operational procedures. Specific legal requirements apply to the management of a small business.

ELEMENTPERFORMANCE CRITERIA
1 . Develop OPERATIONAL STRATEGIES AND PROCEDURES

  1. Develop an action plan to provide a clear and coherent direction, in accordance with the business goals and objectives

  2. Identify occupational health and safety (OHS) and environmental issues and implement strategies to minimise risk factors

  3. Develop a quality system for the business in line with industry standards, compliance requirements and cultural criteria

  4. Develop performance measures and operational targets to conform with the business plan

  5. Develop strategies for innovation, including the utilisation of existing, new or emerging technologies, where practicable, to optimise business performance

2 . Implement operational strategies and procedures

  1. Implement systems and key performance indicators/targets to monitor business performance and customer satisfaction

  2. Implement systems to control stock, expenditure/cost, wastage/shrinkage and risks to health and safety in accordance with the business plan

  3. Maintain staffing requirements, where applicable, within budget to maximise productivity

  4. Carry out the provision of goods/services in accordance with established legal, ethical cultural and technical standards

  5. Provide goods/services in accordance with time, cost and quality specifications, and customer requirements

  6. Apply quality procedures to address product/service and customer requirements

3 . Monitor business performance

  1. Regularly monitor/review the achievement of operational targets to ensure optimum business performance, in accordance with the business plan goals and objectives

  2. Review systems and structures, with a view to more effectively supporting business performance

  3. Investigate and analyse operating problems to establish causes and implement changes as required as part of the business quality system

  4. Amend operational policies and procedures to incorporate corrective action

4 . Review business operations

  1. Review and adjust business plan, as required, to maintain business viability, in accordance with business goals and objectives

  2. Clearly record proposed changes to aid future planning and evaluation

  3. Undertake ongoing research into new business opportunities and adjust business goals and objectives as new business opportunities arise





Key CompetencyExamples of ApplicationPerformance
Level
How can information be collected, analysed and organised?
How are ideas and information communicated within this competency?
How are activities planned and organised?
How are problem solving skills applied?
How are mathematical ideas and techniques used?
How is use of technology applied?
How is team work used within this competency?

Range Statement

Operational strategies and procedures may be determined by:

Business goals and objectives may include:

Occupational health and safety and environmental issues must include:

Quality system may include:

Operational targets may include:

Technical standards may include:


Evidence Guide

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential:

Context of and specific resources for assessment

Assessment must ensure:

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:

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example: