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. Direct the research into the organisation’s business domain | 1.1 Research the sectors in the relevant industry for trends that may yield viable business opportunities 1.2 Research business initiatives undertaken by competitor organisations, to address the same or similar opportunities, and analyse the resources required to undertake such initiatives or project opportunities 1.3 Identify the strategies for realising identified business initiatives, including sub-contracting of suitable elements, where applicable 1.4 Research the legal, environmental and social implications of the identified initiatives |
2. Evaluate the new business initiatives | 2.1 Initiate, and oversee, the market research for potentially viable, identified business opportunities 2.2 Gauge the likely impacts of candidate initiatives on the business enterprise, including specific legal, financial and transformational implications 2.3 Critically evaluate the delivery strategies for anticipated products, or services, stemming from candidate initiatives |
3. Explore the feasibility of the new initiatives | 3.1 Formulate the selection criteria, based on the strategic business objectives 3.2 Facilitate a feasibility study, including a cost benefit analysis 3.3 Select the most feasible option against the selection criteria 3.4 Recommend the preferred initiative |
Evidence of the ability to:
conduct research into the trends for a specified industry sector, and identify potential business opportunities
undertake market research and analysis, and report on the viability and related implications, of a selected business opportunity
develop and present a feasibility report, including a cost benefit analysis that justifies the recommendations for a proposed new business initiative.
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:
formulate various analysis methods and tools, including:
affinity diagrams
competition matrix
decision trees
mind maps
risk assessment
strengths, weaknesses, opportunities and threats (SWOT) analysis
value chain
review and outline, contract and procurement methods
summarise possible social implications, both internal and external, to the organisation as a result of the introduction of new market opportunities
research government and non-government governing bodies in the relevant industry
review legal, ethical, and security issues relating to the research of competitive business opportunities, including the laws related to patents and copyright
outline the organisational structure, policies and procedures
review the relevant government legislation that affects business operation.
Gather evidence to demonstrate consistent performance in conditions that are safe and replicate the workplace. Noise levels, production flow, interruptions and time variances must be typical of those experienced in the general information and communications technology (ICT) industry, and include access to:
appropriate resources, to allow research to be conducted into industry trends (this may include access to commercial research house libraries via a memorandum of understanding or other arrangements)
the opportunity to conduct meaningful market research on potential business opportunities
simulated, or real, executive-level management teams for the presentation of proposals and feedback.
Assessors must satisfy NVR/AQTF assessor requirements.