Small business operations

BSBSMB405 Monitor and manage small business operations

This unit is about implementing a business plan and modifying operations as required. It applies to individuals who operate a small business that stands alone, or is a department within a larger organisation.

 

How you will be assessed

You will be assessed through:

 

Practical

You will be assessed in the workplace as a safe environment and will need access to:

  1. business equipment and resources.
  2. relevant legislation, regulations, standards and codes.
  3. relevant workplace documentation and resources.
  4. case studies or possible, real situations.
  5. interaction with others.

You will need to show that you have done the following:

  1. implement and monitor strategies and procedures developed, including:
    1. analysing and correcting business problems.
    2. reviewing and adjusting the business plan.
  2. record and research business improvements.
  3. make appropriate adjustments to business operations as required.

 

 

Interview/assignment questions

  1. Summarize relevant industry codes of practice.
  2. Explain methods for implementing operation and revenue control systems.
  3. Summarize methods for monitoring performance and implementing improvements.
  4. Outline work health and safety (WHS) responsibilities and procedures for managing hazards.
  5. Identify relevant principles of risk management, including risk assessment.
  6. Clarify quality system principles and methods.
  7. Summarize relevant performance measures.
  8. Discuss role of innovation.
  9. Outline systems to manage staff, stock, expenditure, services and customer service.
  10. Identify technical or specialist skills relevant to business operations.

Note: Your assessor may also ask you a variety of what if questions.

 

Detailed requirements

Perform consistently in typical activities in this field of competency.

1. Develop operational strategies and procedures to successfully manage business operations.

  1. Develop an action plan to give a clear and coherent direction, according to business goals and objectives.
  2. Manage risks. Identify WHS and environmental issues, and implement strategies to minimize risks.
  3. Develop a quality system for the business in line with industry standards, compliance requirements and cultural criteria.
  4. Develop performance measures and operational targets to conform with the business plan.
  5. Develop strategies for innovation. Where practicable, get optimum business performance by using existing, new or emerging technologies.

 

2. Implement operational strategies and procedures.

  1. Monitor business performance and customer satisfaction according to key performance indicators or targets.
  2. Control stock, expenditure or cost, wastage or shrinkage and risks to health and safety according to the business plan.
  3. To maximize productivity, maintain staffing requirements within budget, where applicable.
  4. Provide goods or services according to:
    1. established legal, ethical cultural and technical standards.
    2. time, cost and quality specifications, and
    3. customer requirements.
  5. Apply quality procedures to address product or service and customer requirements.

 

 

3. Monitor business performance.

  1. Check that you are getting optimum business performance by regularly monitoring and reviewing whether you are achieving the operational targets and goals of the business plan.
  2. Review systems to see if they could be more effective in supporting business performance.
  3. Investigate any operational problems to establish the causes and make changes as part of the business quality system.
  4. Change operational policies and procedures to incorporate your corrections.

 

4. Review business operations.

  1. Review the business plan, and make any necessary changes to keep the business viable, according to business goals and objectives.
  2. Clearly record proposed changes to help in future planning and evaluation.
  3. Keep researching new business opportunities, and adjust your business goals and objectives as new business opportunities arise.