Unit of competency Outline
Date retreived
22/07/2026 2:31 AM AWST
22/07/2026 2:31 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Monitor and manage small business operations
Monitor and manage small business operations
Unit of competency
National Code
BSBSMB405
BSBSMB405
State Code
AUH72
AUH72
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
15/09/2015
Field of Education
080301 - Business Management
Original Release Date
15/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to implement a business plan and modify operations as required. It applies to individuals who operate a small business which stands alone, or is part of a department within a larger organisation. Individuals in this role use problem-solving skills and take responsibility for developing approaches to manage business operations.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Develop operational strategies and procedures
- 1.1 Develop an action plan to provide a clear and coherent direction, in accordance with business goals and objectives
- 1.2 Identify work health and safety (WHS) and environmental issues, and implement strategies to minimise risk factors
- 1.3 Develop a quality system for the business in line with industry standards, compliance requirements and cultural criteria
- 1.4 Develop performance measures and operational targets to conform with the business plan
- 1.5 Develop strategies for innovation, including utilisation of existing, new or emerging technologies, where practicable, to optimise business performance
2. Implement operational strategies and procedures
- 2.1 Implement systems and key performance indicators or targets to monitor business performance and customer satisfaction
- 2.2 Implement systems to control stock, expenditure or cost, wastage or shrinkage and risks to health and safety in accordance with the business plan
- 2.3 Maintain staffing requirements, where applicable, within budget, to maximise productivity
- 2.4 Carry out provision of goods or services in accordance with established legal, ethical cultural and technical standards
- 2.5 Provide goods or services in accordance with time, cost and quality specifications, and customer requirements
- 2.6 Apply quality procedures to address product or service and customer requirements
3. Monitor business performance
- 3.1 Regularly monitor and review achievement of operational targets to ensure optimum business performance, in accordance with business plan goals and objectives
- 3.2 Review systems and structures, with a view to more effectively supporting business performance
- 3.3 Investigate and analyse operating problems to establish causes and implement changes as required, as part of the business quality system
- 3.4 Amend operational policies and procedures to incorporate corrective action
4. Review business operations
- 4.1 Review and adjust business plan, as required, to maintain business viability, in accordance with business goals and objectives
- 4.2 Clearly record proposed changes to aid future planning and evaluation
- 4.3 Undertake ongoing research into new business opportunities and adjust business goals and objectives as new business opportunities arise
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| S8082 | BSBSMB405B | Monitor and manage small business operations | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| OAE93 | BSBSMB420 | Evaluate and develop small business operations | Unit of competency |