Entrepreneurship and New Business

This unit describes the skills and knowledge required to develop and implement a marketing strategy that is integrated into the business plan in order to improve the performance of a business venture. It involves analysing and interpreting market data. The unit applies to those establishing a business providing self-employment, as well as those establishing a new venture as part of a larger organisation.

This unit describes the skills and knowledge required to identify and comply with legal and risk management requirements of the business or new business venture, including negotiating, creating and planning for legal contracts used within the business, where required. The unit applies to those establishing a business providing self-employment, as well as those establishing a new venture as part of a larger organisation.

This unit describes the skills and knowledge required to research and develop business plans for achieving business goals and objectives. The unit applies to those establishing or operating a business providing self-employment, as well as those establishing a new venture as part of a larger organisation.

This unit describes the skills and knowledge required to identify financial requirements of a business, including profit targets, cash flow projections and strategies to garner financial support. The unit applies to those establishing a business providing self-employment, as well as those establishing a new venture as part of a larger organisation.

This unit describes the skills and knowledge required to use advanced-level critical thinking skills in a workplace context. This includes using methods of analysis, synthesis and evaluation. The unit applies to individuals who evaluate existing or proposed work practices. These individuals are typically responsible for reviewing or developing work processes, products or services that may be proposed or already existing.

This unit describes the skills and knowledge required to establish, develop and maintain effective work relationships and networks through relationship building and negotiation skills required by workers. These workers may be within an organisation as well as freelance or contract workers. The unit applies to individuals with a broad knowledge of networking and negotiation who contribute to creating solutions to unpredictable problems. They may have responsibility for and provide guidance to others.

This unit describes the skills and knowledge required to plan and prioritise own work tasks. It also addresses the skills and knowledge to monitor and obtain feedback on personal work performance. The unit applies to individuals who are required to design their own work schedules and work plans and to establish priorities for their work. They will typically hold some responsibilities for the work of others and have some autonomy in relation to their own role.

This unit describes the skills and knowledge required to develop and use emotional intelligence to increase self-awareness, self-management, social awareness and relationship management in the workplace. The unit applies to individuals who are required to identify, analyse, synthesise and act on information from a range of sources and who deal with unpredictable problems as part of their job role. These individuals may be responsible for leading a team or work area.

This unit describes the skills and knowledge required to identify a business opportunity and its key components. This requires undertaking research to determine the viability of the opportunity, with reference to the legislative frameworks affecting the business. The unit applies to those establishing or operating a business providing self-employment, as well as those establishing a new venture as part of a larger organisation. The business opportunities may relate to products and/or services offered by the business.

This unit describes the skills and knowledge required to research the viability of ideas for business opportunities and develop and present proposals for viable options in formats suiting a range of stakeholders. The unit applies to those establishing or operating a business providing self-employment, as well as those establishing a new venture as part of a larger organisation. The proposals may relate to products and/or services offered by the business.