The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. |
Business plan may include: | Business opportunities, which may be influenced by: amount and types of finance available expected financial viability skills of operator Details of ownership/management Finance, expenditure statement, balance sheet and cash flow forecast, projections for the initial years of operation assumptions underlying business plan, expected level of inflation and taxation, expected trend of interest rate, capital expenditure and its timing, stock turnover, debtor collection period, creditor payment period, return on investment Level of risk involved, risk assessment and management Market focus of business Marketing requirements Need to raise finance and requirements of lenders Organisation/operational arrangements Proposed size and scale of business Recognition of any seasonal or cyclical (time-based) elements, which are crucial to business success Resources required and available Sources of funding Specialist services and sources of advice that may be required Staffing Stages in business development |
Financial plan may include: | Analysis of sales by product/service, identifying where they were sold and to whom Cash flow estimates for each forward period Current financial state of enterprise (or owner/operator) Estimates of profit and loss projections for each forward period Financial performance to date (if applicable) Likely return on investment Monthly, quarterly or annual returns Non-recurrent asset calculations Profit, turnover, capital and equity targets Projected profit targets, pricing strategies, margins Projections of likely financial results (budgeting) Projections, which may vary depending on importance of such information and stage in life of business Resources required to implement proposed marketing and production strategies (staff, materials, plant and equipment) Review of financial inputs required (sources and forms of finance) Risks and measures to manage or minimise risks Working, fixed, debt and equity capital |
Business goals and objectives may include: | Achievable, measurable, realistic, time defined Customer needs Family benefits Goal and objective plans, systems and processes Lifestyle issues Market focus of business Short, medium, or long-term goals Social responsibility |
Market research data may include: | Australian Bureau of Statistics (ABS) Chambers of commerce information Client surveys Data about: existing clients possible new clients Data from external sources such as other like businesses, industry associations and regulators Industry reports Internet Libraries Personal interviews Primary market research Secondary market research (available research by other people) Small business surveys Telephone surveys Trade associations/journals |
Competitor analysis may include: | Competitor: offerings profile in market place promotion strategies and activities |
Market position may include: | Data on: augmented product (total package of features/benefits) communication core product and or the goods or services provided cost components distribution strategies market position marketing channels new/changed products place price pricing objectives (profit, market penetration) pricing strategies (cost plus, supply/demand, ability to pay) product services or mix of services product/services differentiation from competitors promotion promotion budget promotional strategies tangible product (what is perceived) target audience |
Business brand may include: | Attention, interest, desire, action (AIDA) Business image Practice/business logo/letterhead/signage Facility decor Phone answering protocol Slogans Style guide Templates for communication/invoicing Writing style |
Benefits may include: | Benefits as perceived by client Features as perceived by client |
Promotional tools may include: | Advertising Brochures Direct mail Networking and referrals Newsletters (print and/or electronic) Press releases Publicity and sponsorship Seminars Telemarketing/cold calling Websites |
Applicable legislation may include: | Consumer protection Corporate governance Marine insurance Marine Safety (Domestic Commercial Vessel) National Law National Standard for Commercial Vessels (NSCV) Trade practices WHS/OHS |
Yield per existing client may include: | Packaging fees Raising charge out rates/fees Reducing discounts Selling more services to existing clients |
Promotional package may include: | Directing to existing or new clients Client newsletters or bulletins Media advertising (radio, television, newspapers, trade journals, direct marketing) Product service brochures Products or give-a-ways and third party services Sponsorship |