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Elements and Performance Criteria

1. Identify resources needed in the business
   • Use the business profile to determine types of resources that may be required
   • Gather information regarding resource requirements from appropriate sources
   • Determine resource quantities in accordance with business activity levels and financial position
2. Select appropriate sources for resources required in the business
   • Investigate different options for acquiring resources needed in the business in terms of business profile and stakeholder needs
   • Determine reliability, risks and costs associated with these options in line with business projections
   • Determine ease of access to sources of service and support
   • Select suitable options as investigated
   • Establish relationships with suppliers and other key people
3. Prepare for use of resources in the business
   • Design procedures and systems to allow effective and efficient introduction, use and maintenance of resources
   • Negotiate and review arrangements for supply of resources to ensure the business profile is met
   • Design procedures for monitoring use of resources
   • Develop procedures for maintenance, support, repair and replacement of business machinery, equipment and software

Performance Evidence

Evidence of the ability to:

determine appropriate resource levels in line with micro business profile and desired profit

identify, assess and select digital technologies

select options for resource acquisition suited to the micro business and financial position, including stakeholder needs

establish relationship with suppliers including negotiating and reviewing supplies to suit profile of micro business

develop procedures and systems to allow for efficient and effective installation and use of resources, including monitoring and maintenance as required.

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

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Knowledge Evidence

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

identify legislative requirements relating to micro business operations

describe the functions of key digital technologies and their benefits and challenges to micro business

list functions of a range of business equipment and machinery

outline the micro business profile and structure

describe procedures and systems for use of and routine maintenance of resources

summarise types of resources required as per the micro business profile.

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