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Evidence Guide: BSBSMB415 - Refine and strengthen a small 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!

From the Wiki University

 

BSBSMB415 - Refine and strengthen a small business

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

Investigate opportunities and ideas for business development

  1. Conduct an internal assessment of the performance of the business and its operations to identify potential efficiencies
  2. Review the external business environment and identify emerging trends, disruptions and potential threats
  3. Consult with relevant stakeholders and specialist services or sources of advice to gain feedback on development possibilities
  4. Consider development options specific to the type of business, market or industry life cycle stage utilising benchmarking, research and innovation
Conduct an internal assessment of the performance of the business and its operations to identify potential efficiencies

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review the external business environment and identify emerging trends, disruptions and potential threats

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consult with relevant stakeholders and specialist services or sources of advice to gain feedback on development possibilities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consider development options specific to the type of business, market or industry life cycle stage utilising benchmarking, research and innovation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Formulate strategies

  1. Based on the outcomes of the analysis, confirm or modify the business objectives
  2. Develop a set of strategies and specific actions for both the short and long term incorporating regulatory, social, economic, ethical and environmental responsibility factors into the decision- making process
  3. Align the strategies to the business resource and capability limitations
Based on the outcomes of the analysis, confirm or modify the business objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop a set of strategies and specific actions for both the short and long term incorporating regulatory, social, economic, ethical and environmental responsibility factors into the decision- making process

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Align the strategies to the business resource and capability limitations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement the strategies

  1. Access and allocate resources
  2. Establish a framework for implementation that covers equipment, infrastructure and personnel
  3. Design controls to monitor progress and take action to correct any issues
  4. Demonstrate leadership by providing direction and motivation to others to encourage contribution to business success
Access and allocate resources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish a framework for implementation that covers equipment, infrastructure and personnel

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Design controls to monitor progress and take action to correct any issues

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Demonstrate leadership by providing direction and motivation to others to encourage contribution to business success

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor the implementation of the strategies

  1. Assess the outcomes of the strategies and actions against business objectives and performance targets
  2. Consider further innovations or efficiencies that would contribute to business sustainability
  3. Determine any adjustments to the strategies and actions to accommodate changes in the internal or external situation
  4. Document and communicate the changes to relevant stakeholders
Assess the outcomes of the strategies and actions against business objectives and performance targets

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consider further innovations or efficiencies that would contribute to business sustainability

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine any adjustments to the strategies and actions to accommodate changes in the internal or external situation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document and communicate the changes to relevant stakeholders

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. Investigate opportunities and ideas for business development

1.1 Conduct an internal assessment of the performance of the business and its operations to identify potential efficiencies

1.2 Review the external business environment and identify emerging trends, disruptions and potential threats

1.3 Consult with relevant stakeholders and specialist services or sources of advice to gain feedback on development possibilities

1.4 Consider development options specific to the type of business, market or industry life cycle stage utilising benchmarking, research and innovation

2. Formulate strategies

2.1 Based on the outcomes of the analysis, confirm or modify the business objectives

2.2 Develop a set of strategies and specific actions for both the short and long term incorporating regulatory, social, economic, ethical and environmental responsibility factors into the decision- making process

2.3 Align the strategies to the business resource and capability limitations

3. Implement the strategies

3.1 Access and allocate resources

3.2 Establish a framework for implementation that covers equipment, infrastructure and personnel

3.3 Design controls to monitor progress and take action to correct any issues

3.4 Demonstrate leadership by providing direction and motivation to others to encourage contribution to business success

4. Monitor the implementation of the strategies

4.1 Assess the outcomes of the strategies and actions against business objectives and performance targets

4.2 Consider further innovations or efficiencies that would contribute to business sustainability

4.3 Determine any adjustments to the strategies and actions to accommodate changes in the internal or external situation

4.4 Document and communicate the changes to relevant stakeholders

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. Investigate opportunities and ideas for business development

1.1 Conduct an internal assessment of the performance of the business and its operations to identify potential efficiencies

1.2 Review the external business environment and identify emerging trends, disruptions and potential threats

1.3 Consult with relevant stakeholders and specialist services or sources of advice to gain feedback on development possibilities

1.4 Consider development options specific to the type of business, market or industry life cycle stage utilising benchmarking, research and innovation

2. Formulate strategies

2.1 Based on the outcomes of the analysis, confirm or modify the business objectives

2.2 Develop a set of strategies and specific actions for both the short and long term incorporating regulatory, social, economic, ethical and environmental responsibility factors into the decision- making process

2.3 Align the strategies to the business resource and capability limitations

3. Implement the strategies

3.1 Access and allocate resources

3.2 Establish a framework for implementation that covers equipment, infrastructure and personnel

3.3 Design controls to monitor progress and take action to correct any issues

3.4 Demonstrate leadership by providing direction and motivation to others to encourage contribution to business success

4. Monitor the implementation of the strategies

4.1 Assess the outcomes of the strategies and actions against business objectives and performance targets

4.2 Consider further innovations or efficiencies that would contribute to business sustainability

4.3 Determine any adjustments to the strategies and actions to accommodate changes in the internal or external situation

4.4 Document and communicate the changes to relevant stakeholders

Evidence of the ability to:

identify regulatory, social, economic, ethical and environmental responsibility factors impacting on small business development opportunities

assess the internal and external business environment and determine realistic opportunities, strategies and actions to develop or sustain the business for both the short and long term

develop an implementation plan to meet business objectives that includes:

specific actions and strategies

resource allocation

timeframes

roles and responsibilities

communicate with relevant stakeholders to gain information and advice to inform the development actions and strategies

identify efficiencies and innovations that support business sustainability

implement controls to monitor progress

assess progress and adapt strategy to accommodate changes.

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:

outline market and industry life cycle stages

outline key steps in business environment analysis

describe three ethical issues that can arise in small business

identify the key factors in sustainable business management

explain the principles of leadership for small business

discuss the different actions and strategies for small business development appropriate for particular business type, size and industry.