Application
This unit describes the skills and knowledge required to identify, develop and assess a new business activity or opportunity for a meat retailing enterprise.
Owners, managers or senior staff of meat retailing enterprises may wish to develop their business, start new ventures or explore potential to create new products and services for an existing organisation.
Individuals might be self-employed, or working for a business of any size, where they develop opportunities as part of a broader role within the enterprise.
This unit does not cover implementing or financing the new venture, or managing the growing business.
No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.
Elements and Performance Criteria
Element | Performance criteria |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Identify a business opportunity | 1.1 Locate and review relevant market, client, product and service information 1.2 Assess collective capability of existing staff and facilities 1.3 Use techniques including brainstorming, discussions, lateral thinking and de Bono's Six Thinking Hats® method to generate business opportunity ideas 1.4 Identify, explore and evaluate sources for additional information and fresh business opportunity ideas 1.5 Identify personal and business objectives of developing opportunities 1.6 Obtain input from others to improve and sort initial ideas |
2. Develop a business concept | 2.1 Review and prioritise a range of business opportunity ideas to develop business concepts 2.2 Calculate basic business planning estimates for new business concepts 2.3 Identify and review relevant legal and regulatory requirements 2.4 Determine and document criteria for determining the feasibility of new business ideas 2.5 Undertake preliminary assessment of feasibility of business concepts and seek specialist advice as required 2.6 Identify risks of business concepts and undertake risk assessment 2.7 Select the most feasible ideas for further development into business plans 2.8 Prepare basic documentation to communicate business concepts to stakeholders |
3. Work with others to advance the business concept | 3.1 Determine requirements for partners, alliances and advisors to advance business concept 3.2 Identify and assess potential partners, alliances and advisors 3.3 Seek relevant legal advice to protect interest throughout negotiations 3.4 Conduct negotiations to advance the concept 3.5 Negotiate and develop partnership, alliance and advisory arrangements, if appropriate 3.6 Confirm partnership, alliance and advisory arrangements using legal processes, where relevant |
Evidence of Performance
The candidate must provide evidence that they have identified, developed and assessed the initial feasibility of at least one new business or activity idea. Evidence should be documented and show that consultation occurred.
Evidence will cover processes used to identify a range of ideas, select ideas for assessment of initial feasibility and consult with prospective partners. It will also cover documentation of idea conception and feasibility assessment.
The candidate must:
relate to people from a range of social, cultural and ethnic backgrounds, and with varying physical and mental abilities
use suitable thinking techniques
use research and analytical skills to:
conduct basic research
conduct initial feasibility assessment
prepare basic business planning estimates
apply negotiation skills for exploring partnerships
use verbal and written communication skills to:
document ideas, business planning estimates and feasibility assessment
negotiate with potential partners
determine legal, workplace health and safety and non-legal requirements
work with employees and family where relevant
calculate business planning estimates
assess risk and plan for contingencies
solve problems as they arise in negotiations
use technology to manage information
identify and develop fresh business opportunity ideas
document a range of ideas
assess and evaluate relevant market, client, product and service information
communicate ideas to supervisors, managers and other employees
Evidence of Knowledge
The candidate must demonstrate an in depth technical and theoretical knowledge of :
general characteristics and traits of successful entrepreneurs
biographies and case studies of particular individuals, in own or related industries
relevant legal and non-legal requirements
basic methods of business planning
personal characteristics of successful entrepreneurs
risk assessment strategies
Assessment Conditions
Assessment must include access to relevant records, personnel and documentation.
A minimum of three different forms of assessment must be used.
Assessors must satisfy current standards for RTOs.
Foundation Skills
Foundation Skills essential to performance are explicit in the performance criteria of this unit of competency.