Assessor Resource

BSBSMB416
Plan small business growth

Assessment tool

Version 1.0
Issue Date: May 2024


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.

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. 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

Evidence of the ability to:

determine realistic growth goals and objectives to expand, create or sustain competitive advantage

develop a business case for growth to meet business goals and objectives that includes:

key assumptions

specific tactics and strategies

legal and compliance responsibilities

operational considerations including resource requirements

risk identification and mitigation strategies

financial analysis including cash flow implications

due diligence (if a third party is involved)

communication with relevant stakeholders

integrate growth strategy into business planning.

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:

outline legislation, regulation, business policy and procedures relevant to the business

describe core elements and preparation of a business case

outline steps for setting goals and objectives

explain the principles of risk management

discuss the different options and strategies for small business growth appropriate for particular business type, size and industry.

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:

relevant legislation, regulations, standards and codes

relevant workplace documentation and resources

case studies or, where possible, real situations.

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. 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

Evidence of the ability to:

determine realistic growth goals and objectives to expand, create or sustain competitive advantage

develop a business case for growth to meet business goals and objectives that includes:

key assumptions

specific tactics and strategies

legal and compliance responsibilities

operational considerations including resource requirements

risk identification and mitigation strategies

financial analysis including cash flow implications

due diligence (if a third party is involved)

communication with relevant stakeholders

integrate growth strategy into business planning.

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:

outline legislation, regulation, business policy and procedures relevant to the business

describe core elements and preparation of a business case

outline steps for setting goals and objectives

explain the principles of risk management

discuss the different options and strategies for small business growth appropriate for particular business type, size and industry.

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:

relevant legislation, regulations, standards and codes

relevant workplace documentation and resources

case studies or, where possible, real situations.

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
Clarify reasons for pursuing growth 
Identify key areas for growth 
Review current business plan and establish new goals and objectives 
Assess the suitability of main options to pursue growth including market penetration, product development, market development and diversification 
Investigate funding options to support business growth 
Analyse the business capacity to manage growth including legal and compliance implications and disruption to existing business 
Determine the risks, challenges and benefits of chosen pathways 
Research selected growth options and tactics to determine potential return on investment 
Consider the role of the business owner and determine any adjustments to the function, structure and roles of business personnel required 
Consult specialist services and sources of advice 
Prepare a business case for growth in a suitable format for stakeholders 
Identify specific interests and objectives of relevant people and seek and confirm their support of planned business growth 
Integrate growth strategy into business, operational, marketing strategic, financial and production plans where relevant 

Forms

Assessment Cover Sheet

BSBSMB416 - Plan small business growth
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:

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Assessment Record Sheet

BSBSMB416 - Plan small business growth

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: