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Unit of competency details

AHCBUS516 - Develop and review a business plan (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to AHCBUS506 - Develop and review a business planPerformance criteria clarified. Foundation skills added. Assessment requirements updated. 20/Oct/2019

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 21/Oct/2019

Companion volumes:
Unit of competency Assessment requirements

Delivery:
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Training packages that include this unit

CodeSort Table listing Training packages that include this unit by the Code columnTitleSort Table listing Training packages that include this unit by the Title columnRelease
CHC - Community ServicesCommunity Services 9.0-9.3 
FBP - Food, Beverage and PharmaceuticalFood, Beverage and Pharmaceutical 3.0-8.0 
AHC - Agriculture, Horticulture and Conservation and Land Management Training PackageAgriculture, Horticulture and Conservation and Land Management Training Package 4.0-10.0 
SIS - Sport, Fitness and Recreation Training PackageSport, Fitness and Recreation Training Package 6.0 
ACM - Animal Care and Management Training PackageAnimal Care and Management Training Package 5.0-6.0 

Qualifications that include this unit

CodeSort Table listing Qualifications that include this unit by the Code columnTitleSort Table listing Qualifications that include this unit by the Title columnUsage RecommendationRelease
AHC52116 - Diploma of PermacultureDiploma of PermacultureSuperseded3-5 
CHC51122 - Diploma of Financial CounsellingDiploma of Financial CounsellingCurrent1 
FBP40621 - Certificate IV in Artisan Fermented ProductsCertificate IV in Artisan Fermented ProductsCurrent1-2 
AHC51619 - Diploma of Irrigation DesignDiploma of Irrigation DesignSuperseded1 
AHC51216 - Diploma of Community Coordination and FacilitationDiploma of Community Coordination and FacilitationSuperseded3-5 
AHC50324 - Diploma of Production HorticultureDiploma of Production HorticultureCurrent1 
AHC50316 - Diploma of Production HorticultureDiploma of Production HorticultureSuperseded2 
AHC52122 - Diploma of PermacultureDiploma of PermacultureCurrent1 
SIS50122 - Diploma of Sport, Aquatics and Recreation ManagementDiploma of Sport, Aquatics and Recreation ManagementCurrent1 
ACM50421 - Diploma of Equine ManagementDiploma of Equine ManagementCurrent1 
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Skill sets that include this unit

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  21/Oct/2019 
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Unit of competency

Modification History

Release

Comments

Release 1

This version released with AHC Agriculture, Horticulture, Conservation and Land Management Training Package Version 4.0.

Application

This unit of competency describes the skills and knowledge required to develop and review a business plan.

This unit applies to individuals whose role is to set the short, medium or long term goals and targets for the business plan. Roles may relate to marketing and production targets, resource and asset development and management, supply chain management, acquisitions, capital, property improvements, and operational systems.

At this level, workers take personal responsibility and exercise autonomy in undertaking complex work. They analyse information and exercise judgement to complete a range of advanced skilled activities.

All work must be carried out to comply with organisational requirements, work health and safety legislation and codes, sustainability practices and in consultation with the management team.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Pre-requisite Unit

Nil

Unit Sector

Business (BUS)

Elements and Performance Criteria

Elements

Performance Criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine scope of business plan

1.1 Determine scope of the business plan and associated systems in consultation with key and specialist personnel

1.2 Access information to inform business plan development including potential business opportunities

1.3 Account for and incorporate trends and seasonal variations

1.4 Account for strategic goals, targets and directions of the enterprise

1.5 Identify legal obligations and compliance requirements

2. Prepare business plan

2.1 Develop operational goals and targets that enhance opportunities to meet the enterprise strategic plan

2.2 Check indicators of operational performance are clear and measurable and allow for realistic analysis of performance

2.3 Identify and include resource requirements and input supply chain options

2.4 Identify and incorporate human resource strategies

2.5 Identify and incorporate marketing strategies

2.6 Identify risks for the business and develop minimisation strategies

2.7 Trial systems to test budgetary impact and operational potential before implementation

3. Document and review business plan

3.1 Develop the business plan

3.2 Incorporate financial and operational systems that enhance performance management and suit enterprise requirements

3.3 Communicate business plan to relevant parties

3.4 Monitor performance against the business plan to identify strengths, weaknesses and areas for improvement

3.5 Make recommendations to improve the business plan and associated systems

Foundation Skills

This section describes those language, literacy, numeracy and employment skills that are essential for performance in this unit of competency but are not explicit in the performance criteria.

Skill

Description

Reading

  • Access and interpret complex information including legislation and business documentation relevant to enterprise

Unit Mapping Information

Code and title current version

Code and title previous version

Comments

Equivalence status

AHCBUS516 Develop and review a business plan

AHCBUS506 Develop and review a business plan

Performance criteria clarified

Foundation skills added

Assessment requirements updated

Equivalent unit

Links

Companion Volumes, including Implementation Guides, are available at VETNet: - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c6399549-9c62-4a5e-bf1a-524b2322cf72

 

Assessment requirements

Modification History

Release

Comments

Release 1

This version released with AHC Agriculture, Horticulture, Conservation and Land Management Training Package Version 4.0.

Performance Evidence

An individual demonstrating competency must satisfy all of the elements and performance criteria in this unit. There must be evidence that the individual has developed and reviewed a business plan for at least one enterprise, including:

  • set strategic goals, targets and directions for the enterprise
  • determined clear and measurable indicators of operational performance
  • identified and designed risk management strategies
  • developed appropriate operational plans
  • documented the business plan
  • monitored the business plan to identify strengths, weaknesses and areas for improvement.

Knowledge Evidence

An individual must be able to demonstrate the knowledge required to perform the tasks outlined in the elements and performance criteria of this unit. This includes knowledge of:

  • profit and loss and cash flow systems
  • forecasting trends in expenditure and production for an enterprise
  • communication techniques typically used to negotiate business strategies and directions
  • risk management strategies relevant to the enterprise
  • marketing strategies relevant to the enterprise
  • measures of operational performance
  • financial and operational systems and resource considerations relevant to business planning
  • logical and analytical methods to interpret and analyse financial reports
  • industrial relations, taxation, corporate and industry legislation, environmental and work health and safety legislation as they relate to the enterprise
  • capital investment analysis.

Assessment Conditions

Assessment of skills must take place under the following conditions:

  • physical conditions:
  • skills must be demonstrated in a workplace setting or an environment that accurately represents workplace conditions
  • resources, equipment and materials:
  • access to business records for an enterprise.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Links

Companion Volumes, including Implementation Guides, are available at VETNet: - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c6399549-9c62-4a5e-bf1a-524b2322cf72

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