Elements and Performance Criteria
- Elements define the essential outcomes
- Identify resources for new business
- Undertake a risk management analysis for new business opportunities
- Develop business ideas and options
- Identify, assess and calculate financial costs and resource requirements and prepare budget
- Develop business timeframe
- Implement appropriate structures to oversee new business as relevant
- Establish, monitor and review policies and procedures to manage the use of staff, equipment and other physical assets, on a regular basis
- Implement new business strategies
- Communicate new business strategies to relevant stakeholders
- Clearly communicate roles and responsibilities of all parties
- Implement the new business in line with all relevant guidelines, legal and taxation requirements
- Maintain and keep required records to ensure organisation and statutory requirements are met
- Develop and sign contracts where appropriate
- Establish regular feedback mechanisms
- Evaluate new business opportunities