Application
This unit involves the skills and knowledge required to develop a business plan that includes a marketing, sales and promotional strategy to grow a small surveyor business. It includes researching and developing an integrated business plan for achieving business goals and objectives.
This unit applies to people working in the maritime industry as a marine surveyor.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Elements and Performance Criteria
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. | ||
1 | Prepare to develop a business plan | 1.1 | Essential components of a business plan are identified and reviewed for suitability for inclusion in overall plan for size and nature of proposed business |
1.2 | Sources and costs of finance to be included in financial plan are established and required business liquidity and profitability is outlined | ||
1.3 | Business resources and required legal and compliance requirements to be considered are identified and documented | ||
2 | Develop a business plan | 2.1 | Proposed business operation and overall business goals and objectives are identified and documented |
2.2 | Operational requirements are identified to effectively produce/deliver products/services | ||
2.3 | Specialist services and sources of advice are identified, where required, and costed according to resources available | ||
2.4 | Vision statement is developed that reflects business objectives | ||
2.5 | Target markets are identified through market research data | ||
2.6 | Competitor analysis is obtained and market position the business is developed/reviewed | ||
3 | Develop strategies for minimising risks | 3.1 | Specific interests and objectives of relevant people are identified and their support for planned business direction is sought and confirmed |
3.2 | Risk management strategies are identified and developed according to business goals and objectives, and relevant legal requirements | ||
3.3 | Contingency plan is developed to address potential areas of non-conformance with plan | ||
4 | Develop business promotion plans | 4.1 | Business brand is developed |
4.2 | Benefits of practice products/services are identified | ||
4.3 | Promotional tools are selected and included in business plan and applicable legislation is incorporated as required | ||
5 | Develop sales plans | 5.1 | Plans to increase sales through yield per existing client are identified and developed for immediate or future inclusion in plan |
5.2 | Plans and strategies to grow business and add new clients and sales are developed | ||
5.3 | Proposed plans are ranked according to priority | ||
5.4 | Action plan to implement top ranked plan is developed and agreed with any relevant personnel | ||
5.5 | Business work practices are reviewed to ensure they support plans | ||
6 | Implement and monitor promotional strategy | 6.1 | Promotional package is created to meet sales plan requirements, relevant legislative requirements and to enhance business corporate image |
6.2 | Promotional strategy is implemented within budget in specified timeframes | ||
6.3 | Criteria to measure effectiveness of sales/promotional strategy is established | ||
6.4 | Adjustments to promotional strategy or service distribution are made as necessary to ensure required result is being obtained |
Evidence of Performance
Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements, performance criteria and range of conditions on at least one occasion and include: |
accessing and interpreting relevant information accessing and updating records electronically accessing web-based information services applying relevant work health and safety/occupational health and safety (WHS/OHS) requirements and work practices assessing business performance communicating effectively with others as required determining and confirming information using questioning and active listening techniques developing effective planning documents ensuring behaviour reflects relevant current legislative and regulatory requirements liaising with others and sharing information making presentations managing databases and projects marketing products and services negotiating effectively with clients and others performing calculations related to achieving required outcomes planning and sequencing work reading and interpreting documentation from a variety of sources recording and consolidating relevant related information solving problems using computer applications (word processing, spreadsheet, database, specific purpose computer systems) to assist in achieving required outcomes using language and concepts appropriate to cultural differences using statistical/data analysis and interpretation. |
Evidence of Knowledge
Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements, performance criteria and range of conditions and include knowledge of: |
business/organisational policy and procedure development and implementation commonwealth, state/territory and local government legislative requirements relating to business operations, especially in regard to: anti-discrimination due diligence equal employment opportunity governance requirements industrial relations WHS/OHS and environmental issues how to acquire and interpret relevant data industry: compliance requirements market position relative to type of survey and business operations information technology and communications systems marketing and promotional principles methods of evaluating current industry/organisation product and marketing mix planning processes preparation of a business plan principles of risk management relevant to business planning relevant: common law, legal systems and procedures industry codes of practice reasons for and benefits of, business planning setting goals and objectives types of business planning: feasibility studies strategic, operational, financial and marketing planning WHS/OHS legislation, policies and procedures. |
Assessment Conditions
Assessors must satisfy National Vocational Education and Training Regulator (NVR)/Australian Quality Training Framework (AQTF) assessor requirements.
Assessment must satisfy the National Vocational Education and Training Regulator (NVR)/Australian Quality Training Framework (AQTF) standards.
Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.
Assessment must occur in workplace operational situations or where these are not available, in simulated workplace operational situations or an industry-approved marine operations site that replicates workplace conditions.
Resources for assessment include access to:
relevant documentation including workplace procedures, regulations, codes of practice and operation manuals
tools, equipment, materials and personal protective equipment currently used in industry.
Performance should be demonstrated consistently over time and in a suitable range of contexts.
Foundation Skills
Foundation skills essential to performance are explicit in the performance criteria of this unit of competency. |
Range Statement
Range is restricted to essential operating conditions and any other variables essential to the work environment. | |
Business plan must 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 must 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 (where 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 include one or more of the following: | 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 includes one or more of the following: | Australian Bureau of Statistics (ABS) chambers of commerce information client surveys data about existing clients and 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 includes one or more of the following: | competitor: offerings profile in market place promotion strategies and activities |
Market position includes one or more of the following: | 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 includes one or more of the following: | 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 must include: | benefits as perceived by client features as perceived by client |
Promotional tools include one or more of the following: | advertising brochures direct mail networking and referrals newsletters (print and/or electronic) press releases publicity and sponsorship seminars telemarketing/cold calling websites |
Applicable legislation includes one or more of the following: | consumer protection corporate governance marine insurance marine Safety (Domestic Commercial Vessel) National Law National Standard for Commercial Vessels (NSCV) trade practices work health and safety/occupational health and safety (WHS/OHS) |
Yield per existing client includes one or more of the following: | packaging fees raising charge out rates/fees reducing discounts selling more services to existing clients |
Promotional package includes one or more of the following: | 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 |
Sectors
Not applicable.
Competency Field
M – Marine Surveying