Course Title: Monitor and manage small business operations
Part B: Course Detail
Teaching Period: Term1 2021
Course Code: BUSM8850C
Course Title: Monitor and manage small business operations
School: 650T Vocational Business Education
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
Upasana Mahajan
Course coordinator
+61 9925 5460
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
A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.
A Practice Firm - Work simulated environment will be set up where students will be employed in the virtual office. The students will be simulating the work in this practice firm every week and will perform normal activities as in office kind situation, It will give the real working life experience. Practice firm will operate from Week 9-16.
The self-paced activities will be delivered through various technology platforms and include your contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions.
The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.
We expect you to participate and contribute in all scheduled learning activities.
Teaching Schedule
This course is clustered (co-delivered & co-assessed) with:
ACCT5421C Work effectively in the accounting and bookkeeping industry
Week |
Topic / Learning Materials |
Assessment |
1 |
Introduction to the entire cluster
Introduction to the book-keeping and accounting
|
Assessment Task 1 will be released
|
2 |
Clarifying business needs with key stakeholders
|
|
3 |
Working ethically and responsibly
|
|
4 |
Professional development and introduction to small business operations
|
Assessment Task 2 will be released and students will be formed into class groups |
5 |
PD and Introduction to small business operations continued
|
Assessment Task 1- Part A Due |
6 |
Technology, information and documentation
|
|
7 |
Assessment Task 2
|
|
8 |
Presentations on the business explored in Assessment Task 2
|
|
9 |
Systems, Policies and procedures including risk
|
Assessment Task 1 - Part B Due |
10 |
|
In class time for Assessment 2
|
11 |
|
Assessment Task 2 Due In-class presentation |
12 |
|
Assessment Task 2 - Due In-class presentation |
13 |
|
Working on Assessment 3 in class |
14 |
|
Class time for Assessment 3 Group discussions for Assessment 3 |
15 |
|
Group discussions for Assessment 3 |
16 |
|
Assessment Task 3 Due |
Learning Resources
Prescribed Texts
References
Principles of Professional Practice |
978-1-925433-77-7 |
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 three (3) pieces of assessment task to complete. You are expected to complete all the three assessments tasks to achieve competency in the course.
The details of the all the 3 assessment tasks is given as below:
Assessment 1: Due Week 5 & Week 9
This assessment is Knowledge Questions. This assessment will be divided in 2 parts. Part A is due in Week 5 and Part B is due in Week 9.
The purpose of the assessment is to give you the opportunity to demonstrate your knowledge of key points relating to the accountancy and/or bookkeeping industry, with a particular focus on professional practice and small business operations.
The content will be provided through class discussions, readings and course resources, and research in students’ own time. Upload completed work in or before Week 9 of the semester.
Assessment 2: Due Week 11 & Week 12
The assessment will be due in Week 11. This practical assessment will allow you to explore an organisation from the perspective of a bookkeeper and develop policies and procedure manuals.
There are 3 parts to this task, you will be required to complete:
Part 1: Working as a bookkeeper
Part 2: Policies and procedures manual
Part 3: Meeting with CEO
Much of the material will be covered in class during weeks 6-10 with some additional reading and research in students’ own time. Upload completed work in Week 11 of the semester. The Part 2 required presentation of the policy manual in the class. The presentations will continue in class during Week 11 & 12.
Assessment 3: Due Week 16
This practical assessment task is the final of three assessment tasks you need to complete satisfactorily, in order to be deemed competent for this unit.
This practical assessment will allow you to explore an organisation and develop an Action Plan to provide strategic direction in accordance with the business’s goals and mission.
There is 1 part to this task, you will be required to complete:
Part 1: Manage small business operations
The content will be provided through class discussions, readings and course resources, and research.
Much of the material will be covered in class with some additional reading and research in students’ own time. Upload completed work in Week 16 of the semester.
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:
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 in the unit as:
Competent
If you have been unsuccessful in completing each individual assessment then the allocated grade will be :
Not Yet Competent
Course Overview: Access Course Overview