Elements and Performance Criteria
- Evaluate business opportunities
- Identify and research key factors that influence viability of business ideas
- Analyse business ideas in terms of personal or family needs and commitments
- Evaluate impacts of emerging or changing technology, including e-commerce, on the business
- Determine viability of business opportunity in line with perceived risks, resources available, financial returns and other outcomes sought
- Assess and match personal skills/attributes against those perceived as necessary for a particular business opportunity
- Identify and assess business risks according to resources available and personal preferences
- Detail the business idea
- Prepare the business overview to suit different stakeholders