Assessor Resource

SIRXMGT005
Lead the development of business opportunities

Assessment tool

Version 1.0
Issue Date: April 2024


This unit describes the performance outcomes, skills and knowledge required to identify, analyse and implement programs that will provide opportunities for business growth.

This unit applies to senior personnel working in a diverse range of sectors and business contexts. They operate independently and are responsible for making a range of operational business decisions and strategic planning.

No occupational licensing, certification or specific legislative 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.

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Identify new business opportunities.

1.1.Review existing operations to identify and analyse new business opportunities.

1.2.Research business trends relevant to the organisation to identify new business opportunities.

1.3.Identify and evaluate opportunities and threats from internal and external environments.

1.4.Consult with stakeholders and customers to seek input into business opportunities.

1.5.Determine organisational capacity to respond to identified opportunities and select opportunities to peruse.

2. Develop a business development plan.

2.1.Prepare feasibility studies and reports that assess viability, profitability and sustainability of development opportunities.

2.2.Analyse risks associated with initiatives and ensure compliance with legislative and regulatory requirements.

2.3.Develop and document a business development plan outlining priorities, responsibilities, performance indicators, timelines and budgets.

2.4.Communicate plans to relevant personnel and seek required approval.

2.5.Test business development initiatives for acceptance in the market place.

2.6.Prioritise potential business development opportunities for action.

3. Implement business development plan.

3.1.Communicate the business develop plan to relevant stakeholders and personnel.

3.2.Allocate resources to support the delivery of business development opportunities.

3.3.Oversee the roll-out of marketing and communication processes to target markets launching new business initiatives.

4. Evaluate impact of business development plans.

4.1.Monitor and evaluate new business initiatives against desired outcomes and performance indicators.

4.2.Review business development plans in line with changing organisational and business requirements.

Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:

identify business opportunities and develop a business development plan for the implementation of one identified opportunity by:

researching and analysing internal and external business environments to determine opportunities for business development

determining feasibility of and risks associated with business development opportunities

developing business plan that details:

priorities

responsibilities

performance indicators

timelines

budgets

evaluating the above plan against performance indicators and report on impact and effectiveness.

Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit:

techniques for:

identifying and analysing business opportunities

determining feasibility of business development opportunities

evaluating business development plans

formats of business development plans

internal and external environments and their role in determining business opportunities

risks associated with business development opportunities and strategies to minimise risks

budgeting and financial planning procedures

business development opportunities and trends in the relevant industry.

Skills must be demonstrated in a services industry environment. This can be:

an industry workplace

a simulated industry environment.

Assessment must ensure access to:

sources of information on internal and external operating environments

stakeholders with whom the individual can interact; these can be:

individuals in an industry workplace, or

individuals who participate in role plays or simulated activities, set up for the purpose of assessment, in a simulated industry.

Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors.

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.

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Identify new business opportunities.

1.1.Review existing operations to identify and analyse new business opportunities.

1.2.Research business trends relevant to the organisation to identify new business opportunities.

1.3.Identify and evaluate opportunities and threats from internal and external environments.

1.4.Consult with stakeholders and customers to seek input into business opportunities.

1.5.Determine organisational capacity to respond to identified opportunities and select opportunities to peruse.

2. Develop a business development plan.

2.1.Prepare feasibility studies and reports that assess viability, profitability and sustainability of development opportunities.

2.2.Analyse risks associated with initiatives and ensure compliance with legislative and regulatory requirements.

2.3.Develop and document a business development plan outlining priorities, responsibilities, performance indicators, timelines and budgets.

2.4.Communicate plans to relevant personnel and seek required approval.

2.5.Test business development initiatives for acceptance in the market place.

2.6.Prioritise potential business development opportunities for action.

3. Implement business development plan.

3.1.Communicate the business develop plan to relevant stakeholders and personnel.

3.2.Allocate resources to support the delivery of business development opportunities.

3.3.Oversee the roll-out of marketing and communication processes to target markets launching new business initiatives.

4. Evaluate impact of business development plans.

4.1.Monitor and evaluate new business initiatives against desired outcomes and performance indicators.

4.2.Review business development plans in line with changing organisational and business requirements.

Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:

identify business opportunities and develop a business development plan for the implementation of one identified opportunity by:

researching and analysing internal and external business environments to determine opportunities for business development

determining feasibility of and risks associated with business development opportunities

developing business plan that details:

priorities

responsibilities

performance indicators

timelines

budgets

evaluating the above plan against performance indicators and report on impact and effectiveness.

Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit:

techniques for:

identifying and analysing business opportunities

determining feasibility of business development opportunities

evaluating business development plans

formats of business development plans

internal and external environments and their role in determining business opportunities

risks associated with business development opportunities and strategies to minimise risks

budgeting and financial planning procedures

business development opportunities and trends in the relevant industry.

Skills must be demonstrated in a services industry environment. This can be:

an industry workplace

a simulated industry environment.

Assessment must ensure access to:

sources of information on internal and external operating environments

stakeholders with whom the individual can interact; these can be:

individuals in an industry workplace, or

individuals who participate in role plays or simulated activities, set up for the purpose of assessment, in a simulated industry.

Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors.
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
Review existing operations to identify and analyse new business opportunities. 
Research business trends relevant to the organisation to identify new business opportunities. 
Identify and evaluate opportunities and threats from internal and external environments. 
Consult with stakeholders and customers to seek input into business opportunities. 
Determine organisational capacity to respond to identified opportunities and select opportunities to peruse. 
Prepare feasibility studies and reports that assess viability, profitability and sustainability of development opportunities. 
Analyse risks associated with initiatives and ensure compliance with legislative and regulatory requirements. 
Develop and document a business development plan outlining priorities, responsibilities, performance indicators, timelines and budgets. 
Communicate plans to relevant personnel and seek required approval. 
Test business development initiatives for acceptance in the market place. 
Prioritise potential business development opportunities for action. 
Communicate the business develop plan to relevant stakeholders and personnel. 
Allocate resources to support the delivery of business development opportunities. 
Oversee the roll-out of marketing and communication processes to target markets launching new business initiatives. 
Monitor and evaluate new business initiatives against desired outcomes and performance indicators. 
Review business development plans in line with changing organisational and business requirements. 

Forms

Assessment Cover Sheet

SIRXMGT005 - Lead the development of business opportunities
Assessment task 1: [title]

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

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Assessment Record Sheet

SIRXMGT005 - Lead the development of business opportunities

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

(add lines for each task)

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Overall assessment result: Competent Not yet competent

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