NTISthis.com

Evidence Guide: AMPMGT503 - Develop and assess a meat retailing business opportunity

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

AMPMGT503 - Develop and assess a meat retailing business opportunity

What evidence can you provide to prove your understanding of each of the following citeria?

Identify a business opportunity

  1. Locate and review relevant market, client, product and service information
  2. Assess collective capability of existing staff and facilities
  3. Use techniques including brainstorming, discussions, lateral thinking and de Bono's Six Thinking Hats® method to generate business opportunity ideas
  4. Identify, explore and evaluate sources for additional information and fresh business opportunity ideas
  5. Identify personal and business objectives of developing opportunities
  6. Obtain input from others to improve and sort initial ideas
Locate and review relevant market, client, product and service information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess collective capability of existing staff and facilities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use techniques including brainstorming, discussions, lateral thinking and de Bono's Six Thinking Hats® method to generate business opportunity ideas

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify, explore and evaluate sources for additional information and fresh business opportunity ideas

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify personal and business objectives of developing opportunities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain input from others to improve and sort initial ideas

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop a business concept

  1. Review and prioritise a range of business opportunity ideas to develop business concepts
  2. Calculate basic business planning estimates for new business concepts
  3. Identify and review relevant legal and regulatory requirements
  4. Determine and document criteria for determining the feasibility of new business ideas
  5. Undertake preliminary assessment of feasibility of business concepts and seek specialist advice as required
  6. Identify risks of business concepts and undertake risk assessment
  7. Select the most feasible ideas for further development into business plans
  8. Prepare basic documentation to communicate business concepts to stakeholders
Review and prioritise a range of business opportunity ideas to develop business concepts

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Calculate basic business planning estimates for new business concepts

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and review relevant legal and regulatory requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine and document criteria for determining the feasibility of new business ideas

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Undertake preliminary assessment of feasibility of business concepts and seek specialist advice as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify risks of business concepts and undertake risk assessment

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Select the most feasible ideas for further development into business plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare basic documentation to communicate business concepts to stakeholders

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Work with others to advance the business concept

  1. Determine requirements for partners, alliances and advisors to advance business concept
  2. Identify and assess potential partners, alliances and advisors
  3. Seek relevant legal advice to protect interest throughout negotiations
  4. Conduct negotiations to advance the concept
  5. Negotiate and develop partnership, alliance and advisory arrangements, if appropriate
  6. Confirm partnership, alliance and advisory arrangements using legal processes, where relevant
Determine requirements for partners, alliances and advisors to advance business concept

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and assess potential partners, alliances and advisors

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Seek relevant legal advice to protect interest throughout negotiations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Conduct negotiations to advance the concept

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Negotiate and develop partnership, alliance and advisory arrangements, if appropriate

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm partnership, alliance and advisory arrangements using legal processes, where relevant

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify a business opportunity

  1. Locate and review relevant market, client, product and service information
  2. Assess collective capability of existing staff and facilities
  3. Use techniques including brainstorming, discussions, lateral thinking and de Bono's Six Thinking Hats® method to generate business opportunity ideas
  4. Identify, explore and evaluate sources for additional information and fresh business opportunity ideas
  5. Identify personal and business objectives of developing opportunities
  6. Obtain input from others to improve and sort initial ideas
Locate and review relevant market, client, product and service information

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess collective capability of existing staff and facilities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use techniques including brainstorming, discussions, lateral thinking and de Bono's Six Thinking Hats® method to generate business opportunity ideas

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify, explore and evaluate sources for additional information and fresh business opportunity ideas

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify personal and business objectives of developing opportunities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain input from others to improve and sort initial ideas

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop a business concept

  1. Review and prioritise a range of business opportunity ideas to develop business concepts
  2. Calculate basic business planning estimates for new business concepts
  3. Identify and review relevant legal and regulatory requirements
  4. Determine and document criteria for determining the feasibility of new business ideas
  5. Undertake preliminary assessment of feasibility of business concepts and seek specialist advice as required
  6. Identify risks of business concepts and undertake risk assessment
  7. Select the most feasible ideas for further development into business plans
  8. Prepare basic documentation to communicate business concepts to stakeholders
Review and prioritise a range of business opportunity ideas to develop business concepts

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Calculate basic business planning estimates for new business concepts

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and review relevant legal and regulatory requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine and document criteria for determining the feasibility of new business ideas

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Undertake preliminary assessment of feasibility of business concepts and seek specialist advice as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify risks of business concepts and undertake risk assessment

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Select the most feasible ideas for further development into business plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare basic documentation to communicate business concepts to stakeholders

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Work with others to advance the business concept

  1. Determine requirements for partners, alliances and advisors to advance business concept
  2. Identify and assess potential partners, alliances and advisors
  3. Seek relevant legal advice to protect interest throughout negotiations
  4. Conduct negotiations to advance the concept
  5. Negotiate and develop partnership, alliance and advisory arrangements, if appropriate
  6. Confirm partnership, alliance and advisory arrangements using legal processes, where relevant
Determine requirements for partners, alliances and advisors to advance business concept

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and assess potential partners, alliances and advisors

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Seek relevant legal advice to protect interest throughout negotiations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Conduct negotiations to advance the concept

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Negotiate and develop partnership, alliance and advisory arrangements, if appropriate

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm partnership, alliance and advisory arrangements using legal processes, where relevant

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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

Required Skills and Knowledge

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

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

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

Range Statement