Unit of competency Outline

Date retreived
23/07/2026 6:54 AM AWST

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Lead the development of business opportunities

Lead the development of business opportunities

Unit of competency
National Code
SIRXMGT005
State Code
AWX08
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
31/03/2016
View on TGA
State Implementation and Classification
Approved Date
13/09/2016
Field of Education
080301 - Business Management
Original Release Date
13/09/2016
Nominal Hours
65
Description
This unit describes the performance outcomes, skills and knowledge required to identify, analyse and implement programs that will provide opportunities for business growth.This unit applies to senior personnel working in a diverse range of sectors and business contexts. They operate independently and are responsible for making a range of operational business decisions and strategic planning. No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify new business opportunities.
  • 1.1.Review existing operations to identify and analyse new business opportunities.
  • 1.2.Research business trends relevant to the organisation to identify new business opportunities.
  • 1.3.Identify and evaluate opportunities and threats from internal and external environments.
  • 1.4.Consult with stakeholders and customers to seek input into business opportunities.
  • 1.5.Determine organisational capacity to respond to identified opportunities and select opportunities to peruse.
2. Develop a business development plan.
  • 2.1.Prepare feasibility studies and reports that assess viability, profitability and sustainability of development opportunities.
  • 2.2.Analyse risks associated with initiatives and ensure compliance with legislative and regulatory requirements.
  • 2.3.Develop and document a business development plan outlining priorities, responsibilities, performance indicators, timelines and budgets.
  • 2.4.Communicate plans to relevant personnel and seek required approval.
  • 2.5.Test business development initiatives for acceptance in the market place.
  • 2.6.Prioritise potential business development opportunities for action.
3. Implement business development plan.
  • 3.1.Communicate the business develop plan to relevant stakeholders and personnel.
  • 3.2.Allocate resources to support the delivery of business development opportunities.
  • 3.3.Oversee the roll-out of marketing and communication processes to target markets launching new business initiatives.
4. Evaluate impact of business development plans.
  • 4.1.Monitor and evaluate new business initiatives against desired outcomes and performance indicators.
  • 4.2.Review business development plans in line with changing organisational and business requirements.
No information
No information
Replaces
State Code National Code Title Type
WD990 SIRXSRM802 Lead the development of business opportunities Unit of competency