Application
This unit applies to senior managers and business owners in the retail environment.
Prerequisites
Nil
Elements and Performance Criteria
Element | Performance Criteria |
Elements describe the essential outcomes of a unit of competency. | Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide. |
1. Determine legal structure of the business. | 1.1.Examine legal options for the most suitable type of business structure. 1.2.Investigate legal rights and responsibilities of the business to ensure business is adequately protected under legal and legislative provisions. 1.3.Confer with relevant business partners, business principles, franchisors and funders to inform final decision regarding business structure. 1.4.Seek legal and accounting expertise as required to inform final decision regarding business structure. 1.5.Compile and prepare documentation for lodgement to register the business entity with appropriate corporate regulator according to business owner’s wishes. |
2. Monitor compliance with statutory and regulatory requirements. | 2.1.Confirm statutory and regulatory requirements affecting the operations of the business and take appropriate steps to ensure full compliance. 2.2.Determine insurance requirements and acquire adequate cover to ensure risk minimisation. 2.3.Monitor the establishment and performance of contracts to ensure compliance and the fulfilment of rights and obligations. 2.4.Maintain and update legal documents and relevant records according to security and access requirements. |
3. Secure rights to products and services. | 3.1.Secure information on purchase rights to products and services and ensure full understanding of their implications. 3.2.Establish cost of procurement rights to products and services, including ongoing financial planning. 3.3.Confirm rights and responsibilities applying to the use of products and services from the wholesaler to ensure accurate information is communicated to customers. 3.4.Determine brand ownership and protection rights. 3.5.Secure contractual procurement rights to provide optimal conditions for procurement of products and services. |
Required Skills
Required skills |
literacy and numeracy skills to: determine the costs and consequences of non interpret basic documents of a statutory, legal and contractual nature within a business context record, store and transfer information planning and organising skills to research, plan, analyse and organise information |
Required knowledge |
business policy and procedures affecting job role or function community and consumer representative groups concepts of ownership of products, concepts, technology and ideas confidentiality and security requirements financial reporting and accounting information sources on product and supply arrangements for customers key regulatory organisations and bodies legal rights and responsibilities of different business structures legal structures of businesses relevant legislation and statutory requirements, including: industry codes of practice work health and safety (WHS) Australian consumer law service and consumer rights and business obligations sources of legal and technical expertise and advice statutory and approval processes |
Evidence Required
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package. | |
Critical aspects for assessment and evidence required to demonstrate competency in this unit | Evidence of the following is essential: identifies, analyses and describes a range of basic business structures accesses and interprets a range of relevant legal and technical advice on operational matters determines and formally details the compliance of existing business operations with legal and legislative requirements confirms and describes the rights of consumers, covering a range of service and product delivery scenarios for a business uses relevant legal and statutory rights to protect the business brand and intellectual property. |
Context of and specific resources for assessment | Assessment must ensure access to: a retail work environment relevant documentation, such as: legislation and statutory requirements information on the internal and external operating environment business policy and procedures manuals information on: business operations markets competitors products and services suppliers. |
Method of assessment | A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit: observation of performance in the workplace third-party reports from a supervisor review of portfolios of evidence written or verbal questioning to assess knowledge and understanding. |
Guidance information for assessment | Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended. |
Range Statement
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. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the individual, accessibility of the item, and local industry and regional contexts) may also be included. | |
Business structure: | may vary according to: confidentiality considerations franchise arrangements and structures preferences of owners requirements of funding bodies superannuation considerations taxation considerations may be established as a: incorporated company partnership sole trader (also known as a ‘single proprietor’) trust. |
Legal and legislative provisions may include: | Australian Competition and Consumer Commission provisions contract law emergency procedures environmental protection legislation equal employment opportunity (EEO) and anti franchise agreements industry codes of practice licence, patent or copyright arrangements WHS taxation law, including registration for the GST Australian consumer law and fair trading Acts transport, storage and handling of goods workers’ compensation workplace relations. |
Statutory and regulatory requirements | business merchandise range characteristics of specific products or services size, type and location of business types of products and services provided varying levels of staff training worksite specific context, variations and environments. |
Insurance requirements vary according to: | intended use of products or services location of market and business types of products and services provided. |
Rights and obligations may be determined by consulting internal or external experts in areas, such as: | economics finance and accounting insurance law probity technical and scientific trade. |
Records | electronic manual. |
Sources of | direct or indirect electronic or hard copy feedback non verbal communication, including: face-to-face radio telephone written instructions and communication, such as: data exchange emails letters. |
Brand | company brands intellectual property product brands registered brands registered trademarks supplier brands. |
Sectors
Cross-Sector
Employability Skills
This unit contains employability skills.
Licensing Information
Licensing, legislative and regulatory requirements apply to the legal establishment of a business at the time of endorsement. Checks should be made of current requirements within the relevant state or territory.