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Evidence Guide: BSBSMB201 - Identify suitability for micro business

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!

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BSBSMB201 - Identify suitability for micro business

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

Explore potential business ideas

  1. Identify products and services available from local micro and small businesses
  2. Identify products and services not available locally
  3. Determine opportunities for new micro businesses based on gaps in available goods and services
  4. Identify and utilise a range of sources to gather information about micro business opportunities identified
  5. Outline processes to be undertaken by the micro business to provide products/services
Identify products and services available from local micro and small businesses

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify products and services not available locally

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine opportunities for new micro businesses based on gaps in available goods and services

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and utilise a range of sources to gather information about micro business opportunities identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Outline processes to be undertaken by the micro business to provide products/services

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Compare personal skills and aspirations with micro business opportunities

  1. Identify personal reasons for entering into a micro business in realistic terms of own personal commitments, expectations and capabilities
  2. Match personal capabilities realistically with identified business opportunities
  3. Examine personal commitments, expectations and capabilities to realistically identify impact on preferred business opportunity
  4. Examine options to address and minimise negative impact and strengthen positive impact of these aspects
Identify personal reasons for entering into a micro business in realistic terms of own personal commitments, expectations and capabilities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Match personal capabilities realistically with identified business opportunities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Examine personal commitments, expectations and capabilities to realistically identify impact on preferred business opportunity

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Examine options to address and minimise negative impact and strengthen positive impact of these aspects

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Access business learning opportunities, mentoring and advice

  1. List skills and knowledge required to develop and operate, to maximise the business opportunity
  2. Identify and interpret business information and terminology
  3. Identify gaps in personal skills and knowledge needed for the business
  4. Identify appropriate learning opportunities to rectify gaps in personal skills and knowledge
  5. Identify potential mentors, advisers, networks and sources of assistance for the business
List skills and knowledge required to develop and operate, to maximise the business opportunity

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and interpret business information and terminology

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify gaps in personal skills and knowledge needed for the business

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify appropriate learning opportunities to rectify gaps in personal skills and knowledge

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify potential mentors, advisers, networks and sources of assistance for the business

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. Explore potential business ideas

1.1 Identify products and services available from micro and small businesses

1.2 Identify products and services not available in the existing market

1.3 Determine opportunities for new micro businesses based on gaps in available goods and services

1.4 Identify and utilise a range of sources to gather information about micro business opportunities identified

1.5 Outline processes to be undertaken by the micro business to provide products or services

2. Compare personal skills and aspirations with micro business opportunities

2.1 Identify personal reasons for entering into a micro business in realistic terms of own personal commitments, expectations and capabilities

2.2 Match personal capabilities realistically with identified business opportunities

2.3 Examine personal commitments, expectations and capabilities to realistically identify impact on preferred business opportunity

2.4 Examine options to address and minimise negative impact and strengthen positive impact of these aspects

3. Access business learning opportunities, mentoring and advice

3.1 List skills and knowledge required to develop and operate, to maximise the business opportunity

3.2 Identify and interpret business information and terminology

3.3 Identify gaps in personal skills and knowledge needed for the business

3.4 Identify appropriate learning opportunities to rectify gaps in personal skills and knowledge

3.5 Identify potential mentors, advisors, networks and sources of assistance for the business

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. Explore potential business ideas

1.1 Identify products and services available from micro and small businesses

1.2 Identify products and services not available in the existing market

1.3 Determine opportunities for new micro businesses based on gaps in available goods and services

1.4 Identify and utilise a range of sources to gather information about micro business opportunities identified

1.5 Outline processes to be undertaken by the micro business to provide products or services

2. Compare personal skills and aspirations with micro business opportunities

2.1 Identify personal reasons for entering into a micro business in realistic terms of own personal commitments, expectations and capabilities

2.2 Match personal capabilities realistically with identified business opportunities

2.3 Examine personal commitments, expectations and capabilities to realistically identify impact on preferred business opportunity

2.4 Examine options to address and minimise negative impact and strengthen positive impact of these aspects

3. Access business learning opportunities, mentoring and advice

3.1 List skills and knowledge required to develop and operate, to maximise the business opportunity

3.2 Identify and interpret business information and terminology

3.3 Identify gaps in personal skills and knowledge needed for the business

3.4 Identify appropriate learning opportunities to rectify gaps in personal skills and knowledge

3.5 Identify potential mentors, advisors, networks and sources of assistance for the business

Evidence of the ability to:

identify and determine micro business opportunities by locating existing market gaps

demonstrate effective matching of personal attributes with micro business opportunities, and identification of personnel and skill development opportunities

collaborate with others to identify mentors, advisors and networks to assist micro businesses.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

list the four main business structures used by businesses in Australia

summarise the business fundamentals that make an idea a viable business proposition

explain business benchmarking

describe personal attributes needed to run a successful small business

explain differences between micro business and large corporations

identify three training courses or support services available to micro business operators.