Assessor Resource

BSBSMB404
Undertake small business planning

Assessment tool

Version 1.0
Issue Date: April 2024


This unit describes the skills and knowledge required to research and develop an integrated business plan for achieving business goals and objectives.

It applies to individuals who operate a small business that operates independently, or as part of a larger organisation. Individuals in this role interpret business information and numerical data competently.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)



Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Identify elements of the business plan

1.1 Identify purpose of the business plan

1.2 Identify and review essential components of the business plan

1.3 Identify and document business goals and objectives as a basis for measuring business performance

2. Develop a business plan

2.1 Research resources, legal and compliance requirements, specifically in relation to work health and safety (WHS), in accordance with business goals and objectives

2.2 Research market needs, and market size and potential

2.3 Identify sources and costs of finance, from financial plan, to provide required liquidity and profitability for the business

2.4 Identify methods, from marketing strategies, to promote market exposure of the business

2.5 Identify methods or means of production or operation from production or operations plan to conform with business goals and objectives

2.6 Identify staffing requirements to effectively produce or deliver products and services

2.7 Identify, assess and prioritise internal and external risks

2.8 Identify specialist services and sources of advice, where required, and cost in accordance with available resources

3. Develop strategies for minimising risks

3.1 Identify specific interests and objectives of relevant people and seek and confirm their support of planned business direction

3.2 Identify and develop risk management strategies according to business goals and objectives, and relevant legal requirements

3.3 Develop a contingency plan to address possible areas of nonconformance with the plan

Evidence of the ability to:

develop a business plan which provides for finance, marketing and provision of products or services to facilitate all business goals and objectives

identify and plan all work health and safety (WHS) and duty of care responsibilities

identify and assess internal and external risks to the business

develop risk management strategies including a contingency plan for non-conformance.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

discuss all government legislative requirements relating to business operation, especially in regard to WHS and environmental issues, equal employment opportunity, industrial relations and antidiscrimination

explain methods of evaluation

summarise WHS responsibilities and procedures for identifying hazards relevant to the business

outline planning processes

describe preparation of a business plan

identify principles of risk management relevant to small business planning

outline common risks particular to the small business type or industry

explain reasons for, and benefits of, business planning

clarify relevant industry codes of practice

outline setting goals and objectives

explain types of business planning – feasibility studies; strategic, operational, financial and marketing planning.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the Management and Leadership – Small and Micro Business field of work and include access to:

business equipment and resources

relevant legislation, regulations, standards and codes

relevant workplace documentation and resources

case studies or where possible, real situations

interaction with others.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.


Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)


Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Identify elements of the business plan

1.1 Identify purpose of the business plan

1.2 Identify and review essential components of the business plan

1.3 Identify and document business goals and objectives as a basis for measuring business performance

2. Develop a business plan

2.1 Research resources, legal and compliance requirements, specifically in relation to work health and safety (WHS), in accordance with business goals and objectives

2.2 Research market needs, and market size and potential

2.3 Identify sources and costs of finance, from financial plan, to provide required liquidity and profitability for the business

2.4 Identify methods, from marketing strategies, to promote market exposure of the business

2.5 Identify methods or means of production or operation from production or operations plan to conform with business goals and objectives

2.6 Identify staffing requirements to effectively produce or deliver products and services

2.7 Identify, assess and prioritise internal and external risks

2.8 Identify specialist services and sources of advice, where required, and cost in accordance with available resources

3. Develop strategies for minimising risks

3.1 Identify specific interests and objectives of relevant people and seek and confirm their support of planned business direction

3.2 Identify and develop risk management strategies according to business goals and objectives, and relevant legal requirements

3.3 Develop a contingency plan to address possible areas of nonconformance with the plan

Evidence of the ability to:

develop a business plan which provides for finance, marketing and provision of products or services to facilitate all business goals and objectives

identify and plan all work health and safety (WHS) and duty of care responsibilities

identify and assess internal and external risks to the business

develop risk management strategies including a contingency plan for non-conformance.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

discuss all government legislative requirements relating to business operation, especially in regard to WHS and environmental issues, equal employment opportunity, industrial relations and antidiscrimination

explain methods of evaluation

summarise WHS responsibilities and procedures for identifying hazards relevant to the business

outline planning processes

describe preparation of a business plan

identify principles of risk management relevant to small business planning

outline common risks particular to the small business type or industry

explain reasons for, and benefits of, business planning

clarify relevant industry codes of practice

outline setting goals and objectives

explain types of business planning – feasibility studies; strategic, operational, financial and marketing planning.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the Management and Leadership – Small and Micro Business field of work and include access to:

business equipment and resources

relevant legislation, regulations, standards and codes

relevant workplace documentation and resources

case studies or where possible, real situations

interaction with others.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Identify purpose of the business plan 
Identify and review essential components of the business plan 
Identify and document business goals and objectives as a basis for measuring business performance 
Research resources, legal and compliance requirements, specifically in relation to work health and safety (WHS), in accordance with business goals and objectives 
Research market needs, and market size and potential 
Identify sources and costs of finance, from financial plan, to provide required liquidity and profitability for the business 
Identify methods, from marketing strategies, to promote market exposure of the business 
Identify methods or means of production or operation from production or operations plan to conform with business goals and objectives 
Identify staffing requirements to effectively produce or deliver products and services 
Identify, assess and prioritise internal and external risks 
Identify specialist services and sources of advice, where required, and cost in accordance with available resources 
Identify specific interests and objectives of relevant people and seek and confirm their support of planned business direction 
Identify and develop risk management strategies according to business goals and objectives, and relevant legal requirements 
Develop a contingency plan to address possible areas of nonconformance with the plan 

Forms

Assessment Cover Sheet

BSBSMB404 - Undertake small business planning
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:


Assessment Record Sheet

BSBSMB404 - Undertake small business planning

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: