Course Title: Monitor and manage small business operations

Part B: Course Detail

Teaching Period: Term2 2023

Course Code: BUSM8850C

Course Title: Monitor and manage small business operations

Important Information:


Please note that this course may have compulsory in-person attendance requirements for some teaching activities. 

To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption. 

Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209. 

Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus 


Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance. 

School: 525T Business & Enterprise

Campus: City Campus

Program: C4398 - Certificate IV in Accounting and Bookkeeping

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925 5944

Course Contact Email: doug.gourlay@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Course Coordinator: Meetu Aggarwal

Contact: 99251621

Email: meetu.aggarwal@rmit.edu.au

 

Nominal Hours: 45

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

None

Course 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.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBSMB405 Monitor and manage small business operations

Element:

1. Develop operational strategies and procedures

Performance Criteria:

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

Element:

2. Implement operational strategies and procedures

Performance Criteria:

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

Element:

3. Monitor business performance

Performance Criteria:

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

Element:

4. Review business operations

Performance Criteria:

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

Learning Outcomes



Details of Learning Activities

This course offers a variety of learning opportunities, both individual and collaborative. You will engage in online webinar sessions or classroom activities utilising different technology platforms, such as discussion threads, quizzes, and interactive sessions.

Additionally, there will be group discussions, problem-solving activities, and simulated/real workplace environments to practice your skills. You are expected to participate in all scheduled learning activities and contribute to their success.


Teaching Schedule

 

 

Week

Week Commencing

Topics

Assessment/ Quiz

1

 10/07/23

Section 1 Introduction to Small Business

•    Types of business structures

•    Factors for considering business structures

•    How to start a small business in Australia?

•    Mission and vision statements

•    Setting and achieving goals and objectives

Discussion on Assessment 1

Online Quiz 1

2

 17/07/23

Section 2 Business Plans, Operational Strategies and Procedures

•    Creating a Business Plan

•    SWOT analysis

•    Management Plans 

Discussion on Assessment 2

Brainstorming on Part 1 of Assessment 2

Online Quiz 2

3

 24/07/23

Section 2 Business Plans, Operational Strategies and Procedures

•    Operating activities and developing strategies

•    Action Plan

•    Revenue Management

Pitstop 1 – Assessment 2

  

4

 31/07/23

Section 2 Business Plans, Operational Strategies and Procedures

•    Risk Management Plan

•    Staff Management

•    Innovation Strategy

Pitstop 2 – Assessment 2

Pitstop 1 – Assessment 1

 

5

 07/08/23

Section 2 Business Plans, Operational Strategies and Procedures

•    Stock Control Management

•    Customer Service 

Pitstop 3 – Assessment 2

Pitstop 2 – Assessment 1

 

6

 14/08/23

Section 2 Business Plans, Operational Strategies and Procedures

•    Quality Management Systems

•    Work Health and Safety

Pitstop 4 – Assessment 2

Pitstop 3 – Assessment 1

 

Submission of Part 1 of Assessment 2. Feedback will be provided in week 8 and re-submissions in week 9.

7

 21/08/23

Section 3 Monitor and Review Business Performance

•     Monitor Business Performance

•     Review Business Operations        

Pitstop 5 – Assessment 2

Pitstop 4 – Assessment 1

Submission of Assessment 1. Feedback in week 8 and re-submissions in week 9.

 

 

Mid-semester break

28 August - 3 September

8

04/09/23

Pitstop 6– Assessment 2

 

Submission of Part 2, 3 and 4 of Assessment 2 and resubmissions in week 9.

9

 11/09/23

Final week to submit all assessments, re-submissions if required.

 

 


Learning Resources

Prescribed Texts

There is no prescribed text for this course.


References


Other Resources

Online learning materials can be accessed by visiting Canvas.

The online learning materials listed include: 

  • Course outlines
  • PowerPoint presentations
  • Supporting reading material
  • Industry relevant articles
  • Activities


Overview of Assessment

Performance Evidence

Evidence of the ability to:

  • develop strategies and procedures to successfully manage business operations, including:
  • developing an action plan
  • identifying risk management procedures
  • developing a quality system
  • implementing performance measures
  • utilising technologies to optimise business performance
  • implement and monitor strategies and procedures developed, including:
  • analysing and correcting business problems
  • reviewing and adjusting the business plan
  • record and research business improvements
  • make appropriate adjustments to business operations as required.


Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • summarise relevant industry codes of practice
  • explain methods for implementing operation and revenue control systems
  • summarise methods for monitoring performance and implementing improvements
  • outline work health and safety (WHS) responsibilities and procedures for managing hazards
  • identify relevant principles of risk management, including risk assessment
  • clarify quality system principles and methods
  • summarise relevant performance measures
  • discuss role of innovation
  • outline systems to manage staff, stock, expenditure, services and customer service
  • identify technical or specialist skills relevant to business operations.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the Management and Leadership Small and Micro Business field of work and include access to:

  • business equipment and resources
  • relevant legislation, regulations, standards and codes
  • relevant workplace documentation and resources
  • case studies or possible, real situations
  • interaction with others.


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

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Feedback

Feedback will be provided throughout the semester in class and/or online discussions.  You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course. 


Assessment Tasks

The course has two (2) assessment tasks to complete. You are expected to complete all of them to achieve competency in the course.

The details of the assessment tasks is given below:

Assessment 1: Due Week 7

This short-answer assessment task is one of two assessment tasks you need to complete satisfactorily, in order to be deemed competent for this unit. The purpose of the assessment is to give you the opportunity to demonstrate your knowledge of key points relating to small business operations.

Assessment 2: Due Week 6 and 8

The students will be required to think of a business (retail, manufacturing, or service) which they want to start and prepare a business plan. After getting the feedback from their assessor adjust it. This assessment is divided into four (4) parts. You will be required to complete:

Part 1: Business plan

Part 2: Business policies and procedures

Part 3: Adjust business plan

Part 4: Reflection

This practical assessment will allow you to demonstrate your ability to develop and implement a business plan and modify operations as required.

You need to complete all the assessments successfully to complete the course.


Assessment Matrix

The assessment matrix that maps all the assessment is available on CANVAS under Assignments.

All assessments will utilise a competency-based model and will be deemed as either Satisfactory or Not Yet Satisfactory.

Other Information

Submission Requirements

 

You should:

 

  • Ensure that you submit assessments on or before the due date. 
  • Always retain a copy of your assessment tasks. (hard copy and soft copy)
  • When you submit work for assessment at RMIT University you need to use the Assessment task document that includes a declaration and statement of authorship.
  • Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers.

 

Late Submission Procedures

You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.

If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.

More Information:  https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work

Where an extension of greater than seven days is needed, you must apply for Special Consideration.  Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.

More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration

 

Resubmissions (VE Programs):

If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission.  Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. 

If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Grading & re-submissions

Successful re-submissions will contribute a CAG only (Competency Achieved Grading) result to your overall grade for the course.

 

Adjustments to Assessment

In certain circumstances, students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:

https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/adjustments-to-assessment

 

Marking Guide (Competency): 

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying. You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.

 

Marking Guide (Grading) 

After completing each individual assessment successfully, we then grade your performance as: Competent

If unsuccessful in completing each individual assessment then your grade will be : Not Yet Competent

 

Course Overview: Access Course Overview