learner’s guide · we would like to thank all advisors, writers, technical editors and reviewers...

Small Business Management Toolbox

Learner’s Guide

August 2003

Holmesglen Institute of TAFE

Learner's Guide

Acknowledgments

The Small Business Management Toolbox was funded by ANTA and developed byHolmesglen Training and Development, Holmesglen Institute of TAFE.

Project Director: Joan Salmon

Project Coordinator: Christine Foard

Multimedia Manager: Theo Kavadias

Instructional Design: Andrew Buntine, Evelyn Flitman, Marian Jaquiery,Bernadette McDermott, Bart Scheen

Graphics: Peter Joison, Eeleng Kok

Multimedia: Timage Abdulwadud, Adam Lemmo, Vlad Mezin,Geordie Oxley, Rowan Peter

Administration: Melissa Jacobson, Fay Lehmann, Debbie Mackin

We would like to thank all advisors, writers, technical editors and reviewers whocontributed to the development of this project. In particular we would like toacknowledge the following key groups for their contributions to this project:

Steering Committee: Elaine Egan, Western Business Enterprise Centre

Zina Micelli, Business Services Training Australia Ltd

Len Alabaster, Box Hill Institute of TAFE

Alan Daniel, Curriculum Maintenance Manager, BusinessServices Training Package

Susan Windsor, Rural Training Council of Australia

Shirley Smith, Swinburne University Business EnterpriseCentre

Grace Falcon, Falcon Consulting

Brett Stavenuiter, Ballarat Adult & Further EducationCentre (BRACE) Inc.

Sam Cook, Cooloola Sunshine Institute of TAFE

Warren Colledge, Department of Employment andWorkplace Relations

Learner's Guide

© Australian National Training Authority (ANTA) 2003. All rights reserved. ii

Industry Reviewers: Greater Western Chamber of Commerce

Kathy Butler, Info Research Services

Christine Lockey, Safade

Russ Barty, HIS Hose Pty Ltd

Janice Simpson, Simpson Management Pty Ltd

All information in this resource was current within the year of publication, but maysubsequently change. ANTA and Holmesglen Training and Development accept noresponsibility for subsequent changes or inaccurate information.

Learner's Guide

Table of contents

Introduction.............................................................................................. 1

What is a Toolbox?................................................................................. 1

Technical requirements .......................................................................... 2

The Small Business Management Toolbox .......................................... 3

Overview................................................................................................. 3

Navigation............................................................................................... 4

Accessibility ............................................................................................ 6

Enlarging the text ................................................................................... 7

Using the Toolbox components............................................................. 8

Your task ................................................................................................ 8

Topics ..................................................................................................... 8

Self tests................................................................................................. 9

Activities ................................................................................................. 9

Example businesses ............................................................................ 10

References ........................................................................................... 11

Details of the competencies................................................................. 12

Coordinate implementation of customer service strategies ................. 12

Develop work priorities ......................................................................... 16

Establish business and legal requirements.......................................... 19

Manage a small team........................................................................... 22

Manage finances .................................................................................. 25

Monitor and manage business operations ........................................... 30

Monitor a safe workplace ..................................................................... 34

Promote the business........................................................................... 38

Research business opportunities ......................................................... 42

Undertake business planning............................................................... 45

Undertake financial planning................................................................ 52

Learner's Guide

© Australian National Training Authority (ANTA) 2003. All rights reserved. 1

Introduction

Welcome to the Learner's Guide for the Small Business Management Toolbox. Thisguide has been designed to help you use the Toolbox.

The Small Business Management Toolbox is specifically designed to assist peopleworking in or planning to work in small businesses to acquire knowledge that iscritical to business development and sustainability. It is designed to provide smallbusiness owners and managers with a range of skills and competencies to enablethem to establish and grow their small business ventures.

What is a Toolbox?

A Toolbox is a collection of online training materials comprising learning activities,resources and user guides to support program delivery for endorsed TrainingPackage qualifications.

The resources in the Toolbox are based on eleven competency standards from theBusiness Services Training Package BSB01.

• BSBCMN402A Develop work priorities

• BSBCMN410A Coordinate implemetation of customer service strategies

• BSBCMN411A Monitor a safe workplace

• BSBSBM301A Research business opportunities

• BSBSBM401A Establish business and legal requirements

• BSBSBM402A Undertake financial planning

• BSBSBM403A Promote the business

• BSBSBM404A Undertake business planning

• BSBSBM405A Monitor and manage business operations

• BSBSBM406A Manage finances

• BSBSBM407A Manage a small team

Details of these competency standards are available at the National TrainingInformation Service website <http://www.ntis.gov.au>.

In this site, select 'Competency standards' , then click on the radio button 'Unit ofcompetency', and type in either a keyword from the title of the compentency (eg'research business') or the competency code (eg BSBSBM301A).

Learner's Guide


Technical requirements

The minimum hardware requirements for running this Toolbox are as follows.

• IBM compatible computer with a 300 MHz processor

• 64 MB of SDRAM

• 800 x 600 16-bit display (1024 x 768 recommended)

• Minimum 60 MB of hard disk free

• CD-ROM drive

• 28.8 K modem

OR

• Macintosh equivalent.

You will also need to have access to the following software to use the product.

• Internet Explorer version 5 or Netscape Navigator version 4.7 or higher

• Adobe Acrobat Reader - version 4 or higher (available from www.adobe.com)

• Macromedia Flash Player - version 5 or higher (available fromwww.macromedia.com)

The resources in this Toolbox have been tested to comply with W3C WebAccessibility Initiative Priority 1 standards.

Learner's Guide


The Small Business Management Toolbox

Overview

Each of the competency standards covered by the Small Business ManagementToolbox presents the following set of resources.

Your task An overriding activity, requiring you to apply knowledge andskills associated with the competency.

Topics Individual content areas dealing with specific aspects of thecompetency.

Self tests Short quizzes targeted at each topic that allow you to measureyour current understanding.

Activities Opportunities for you to apply knowledge contained within topicsand develop skills in various aspects of small businessmanagement.

Examplebusinesses

Hypothetical businesses that you may wish to use for applyingconcepts and principles outlined in the topics, particularly if youdo not currently run a business of your own.

References Additional sources of information such as books and websites.A quick reference guide to business terms is also included.

Section 3 of this guide examines these features in more detail and suggests sometips for using each in a learning strategy.

Learner's Guide


Navigation

The Toolbox has been designed to ensure that navigation is as simple as possible.The following features have been included to assist movement around and betweenthe resources.

The competencies screen is the first page that you see when accessing the Toolbox(ie the 'home page'). This screen provides access to each of the elevencompetencies and a link to a page of useful tips for first time users.

First time user

Click here for navigation tips andgeneral information about thedifferent resources available.

Competency list

Click an item to select acompetency standard.

Learner's Guide


Within each competency, all similar resources (topics, activities, self tests etc) aregrouped together in separate sections, which are accessible via the top navigationbar.

Use the features at the side of the top navigation bar to access the following.

• The Learner's Guide.

• The Home page (to view another competency).

• A list of Contents for the competency. This list of all relevant resources andprovides single-click access to every resource within the competency.

• A link to a Discussion board or chat session. This feature will only beavailable if your trainer has arranged for it to be set up.

A 'breadcrumb' feature has been included immediately below the navigation bar oneach screen. This indicates the position of the current screen within previousresource levels of the Toolbox. In the example shown below, the topic 'Staff plans'has several subtopics. The subtopic of the current page is 'Job descriptions'. Eachlevel of this breadcrumb can be clicked, providing a shortcut back to a specificpreceding section of the resource.

'Breadcrumb'

Learner's Guide


Callout boxes on the right side of each screen indicate relationships betweenresources. For example, a callout box within a particular topic will direct you toactivities or downloads pertaining to the specific content covered.

Accessibility

The Small Business Management Toolbox has been designed to comply withaccessibility standards, thus allowing learners with physical or learning disabilities orspecial literacy needs to use the online resources. For example:

• literacy needs for second language learners or those with low literacy levelshave been catered for by using Plain English guidelines

• layout and fonts have taken into account the needs of screen-readers for theblind and visually impaired.

• visual images including Flash devices used for presentation of text, quizzesand interactive activities have alternative text provided describing and/orreproducing what they include.

NOTE: The Toolbox has been designed for learners studying competencies atCertificate IV level. These competencies require a certain level of language literacyappropriate to subject-specific vocabulary.

Learner's Guide


Enlarging the text

The Toolbox has been designed so that the size of text can be enlarged (or reduced)to assist readability. The process for doing this is different for different browsers.

Windows users

In Internet Explorer, use View…Text size or, if you have a mouse with a scrollwheel, hold CTRL and scroll the mouse wheel up or down.

In Netscape, use CTRL [ or ].

Macintosh users

In Internet Explorer, use View…Text zoom or COMMAND + or -.

In Netscape, use COMMAND + or -.

Learner's Guide


Using the Toolbox components

The structure of resources within this Toolbox is consistent across each of the 11competency standards.

This section describes each of these components.

Your task

When you access a competency, you are initially presented with a task requiring youto apply the knowledge and skills associated with the competency to a smallbusiness. You may choose to apply the task to your own business, another that youcan access or one of the 'Example businesses' provided within the Toolbox (seebelow for more information).

Topics

The content of each competency is provided within several topics, which address aparticular aspect of the work involved.

This structure allows for easier navigation throughout the resource, providing quickaccess to particular areas of relevance or interest.

Topics also emphasize particular points of relevance through the use of twoadditional features.

• Case studies demonstrate the practical applications or implications oftheories and concepts presented in topics.

• Mentors provide additional information to learners about particular aspects ofa topic. A particular character is used as the mentor in each competencystandard, in order to provide an appropriately personable voice. For example,the mentor in 'Monitor a safe workplace' is a 'Safety Rep', while the mentor in'Undertake business planning' is a 'Business advisor'.

Learner's Guide


Self tests

Each competency includes several self tests (or quizzes) that allow you to test yourknowledge of a particular subject area at any stage while working through theToolbox resources.

Each self test addresses the content contained within a specific topic, providing youwith an opportunity to identify specific gaps in your knowledge and subsequently usethe Toolbox in the most efficient manner.

It should be emphasized that a self test is not a comprehensive examination of a yourknowledge of a topic. Rather, it is there to highlight gaps in your knowledge so thatyou can focus your learning on these areas.

Activities

The activities in each competency allow you to apply knowledge contained withintopics and develop skills in various aspects of small business management.

There are several categories of activities available in the Toolbox.

Interactive activities use a variety of multimedia techniques to provide anengaging learning experience.

In accordance with web-based learning accessibility requirements, text-basedalternatives have been provided for all interactive activities.

Practical activities require you to apply concepts and processes covered inthe topics to practical situations within the workplace – either an actualbusiness or one of the 'Example businesses' provided in this Toolbox.

Research activities require you to use the Internet and other sources ofinformation to explore a specific content area in more detail.

Some research activities require learners to prepare some form of submittabledocument, such as a checklist or report. Your trainer will provide you withinformation about submitting the results for such activities (email, post, etc).

Discussion starters prompt you to reflect on particular aspects of the contentand then share their thoughts with other learners. This may involve aclassroom activity, participation in an online discussion board or chat session,email communication with other learners or group work. Activities can beaccessed from the related theory in the Topics screens. Alternatively, allactivities for a competency are listed in the Activities screen for thatcompetency.

Learner's Guide


Example businesses

A key factor of the Toolbox design is the inclusion of various example businessesthat you may wish to use for applying concepts and principles outlined in the topics.The main purpose of this feature is to provide situations for the application of tasks oractivities to learners who do not have access to an actual business.

Each of these hypothetical examples provides information about the structure of thebusiness, the staff, the nature of work undertaken and other details where required.Specific features of businesses may vary depending on the information requiredwithin each competency standard.

The example businesses found in each competency are listed below.

Competency Example business(es)

Coordinate implementationof customer servicesstrategies

• JJ’s Maintenance Services – Cleaning andgardening services

Develop work priorities • Restora-roof – Roof tile cleaning and repairs.• Limestone Ridge Gallery – A gallery set in a

heritage township.• Hokey Pokie – Suburban gaming venue with a

small restaurant.

Establish business and legalrequirements

• John’s photography business.• Jan and Brians' take away café.• Gus’ industrial safety supplies.

Manage a small team • Seabreeze Supermarket – Small independentsupermarket in a seaside town.

Manage finances • Oz Collection Pty Ltd – Retailer and exporterof toys and collectors' items.

Monitor a safe workplace • New-Home Cabinets and Interiors – Smallcabinet making factory.

• ABC Printery.• Christie’s Copy Centre.

Learner's Guide


Competency Example business(es)

Monitor and managebusiness operations

• House Angels – Domestic cleaning agency.

Promote the business • Bob’s Surf Shop• Jill’s Gym for Females

Research businessopportunities

• Top Gear Couriers – Bicycle delivery andmessage service.

Undertake businessplanning

• Metro Tilers

Undertake financial planning • Oz Designz – A manufacturer of ‘modernfurniture with style’.

References

Each competency standard contains a list of references that you may find useful forcompleting specific activities or researching topics of interest. These may includebooks, journals, websites and other sources of further information.

There is also a quick reference guide to business terms. This is a downloaddocument that can be viewed on the screen or printed out. The quick reference guideis the same for all competencies.

Learner's Guide


Details of the competencies

Coordinate implementation of customer service strategies

The materials in this competency aim to give you the skills and knowledge needed toadvise on and carry out customer service strategies, evaluate customer servicestrategies on the basis of feedback and design strategies for improvement.

Your learning map for this competency

Topics Download documents Activities

Communicating with yourcustomers

Principles of communication

Active listening Communication tips Listening

Customer service

Assertive communication Tips for assertivecommunication

Assertivecommunication

Face to face communication

First contact

Telephone communication

Complaints Dealing with complaints Telephonecommunication

Barriers to effectivecommunication

Learner's Guide



People with special needs

People with limited English

People with hearing andvision impairments

Disability services

Customer servicestrategies

Internal and externalcustomers

Customer profiles Customer needs andwants

Customer expectations Customer expectations

Best practice• Models

Meeting customerexpectations• Options to improve

customer servicestandards

• Establishing servicestandards

• Four levels of customerservice in a restaurant

• Monitoring customersatisfaction.

Customer servicestandards

Customer servicebenchmarks

Customer service charter

Customer servicesstandards

Customer servicebenchmarks

Customer charter

Policies and procedures Refund policy

Learner's Guide



Complaints Positive and negativeresolutions

Common problemsrelating to customerservice

Research skills

Resources

Target group

Sample size

Questions• Number of questions• Guidelines for overall

format• Sample survey

Tips for writing questions

Sample survey Sample survey

Improving a survey

Delivery

Results• Analysing your survey

dataSample survey results Computer software

Presenting findings• Business technology• Written reports• Informal reports

Reports

Learner's Guide



Making changes

Best practice• Strategies to improve

delivery of products andservices

• Customer friendlysystems

• Teamwork

Culture Business culture

Training and mentoring• Training plans• Rewards

Problem solving• Four main steps in

dealing with complaints

Review

Relevance to other competencies

Useful additional material for this competency is found in the following competencies.

• Establish business and legal requirements (Regulations)

• Manage a small team (Staff management)

• Monitor and manage business operations (Quality assurance, as well asSystems and benchmarking)

• Promote the business (Market analysis and research, as well as Marketingplanning)

Some of the material in this competency is also relevant as useful additional materialfor the competency 'Undertake business planning'.

Learner's Guide


Develop work priorities

The materials in this competency aim to give learners the skills and knowledgerequired to plan their own work schedules and to monitor and obtain feedback ontheir own work performance and development.



Planning your own workschedule

Work patterns

Work objectives

Scope of work objectives Classifying workobjectives

Your own workobjectives

Work priorities Priorities in a smallbusiness

Priorities in theworkplace

Factors affecting workobjectives• Client needs• Resources• Targets• Organisational or

legislative requirements• Unforeseen factors

Needs of your clients

Effect of resources

Resources to beconsidered

Targets

Organisational andlegal requirements

Contingency plan

Short-term and long-termplanning

Short-term and long-term planning

Learner's Guide



Planning methods• Planning technology• Traditional planning aids• Personal planning

methods• Workgroup planning

methods

Planning aids andmethods

Technologies forplanning

Processes for yourown planning

Planning a workschedule

Developing effectiveworkgroup plans

Planning strategies foryour workgroup

Monitor own workperformance

Forms of assessment

Methods of monitoringperformance

Performance appraisal

Self assessment Employee assessmentchecklist

Feedback• Obtaining feedback• Questionnaires and

surveys• How feedback is used

Sample customersatisfaction survey

Sample survey andCritique of sample survey(for activity)

How others rate yourwork

Performance appraisalin your workplace

Improving a survey

Mentoring

Identifying variations in thequality of services or products

Carcass defect recordingsheet

Quality control

Learner's Guide



Coordinate professionaldevelopment

Determiningdevelopment needs

Competency standards Competency standards

Personal knowledge andskills

Sources of learning Sources of learning

Planning the training activities• Priorities• Choosing the right

provider• When can the training

happen?• Try to think ahead

Career development

Keeping records ofachievement and assessment

Keeping records

Learner's Guide


Establish business and legal requirements

The materials in this competency aim to enable you to identify and comply with legaland administrative requirements applicable when setting up or running existing microand small businesses.



Structures, names, licencesand permits

Overview activity –Businessrequirements

Structures• Other examples

Business structure

Business names andnumbers

Business names

Licences and permits Licences and yourbusiness

Legislation

Intellectual property• Protecting your ideas and

image• Intellectual property

examples

Consumer legislation• Australian Competition

and ConsumerCommission (ACCC)

Consumerlegislations

AustralianCompetition andConsumerCommission(ACCC)

Manufacturers productliability

Consumer credit code

Learner's Guide



Law of Tort Trespass

Law of Contracts

Employment

Conditions of employment

• Wages

• Other Award issues

• Employment anddismissal

• Sexual harassment

Awards

Sexual harassment

Anti-discrimination and equalopportunity

Superannuation Superannuation

Unions Unions

Occupational health andsafety

Workers compensation

Business environment

Environment

Renting business premises• Home occupation from

rented premises• Legal requirement for

leased premises

Leasing rights

Home occupation by-laws By-laws for yourbusiness

Learner's Guide



Property insurance

Income protection Income protection

Public liability

Car insurance

Record keeping

Legal documents

Financial records Record keepingsystems

Taxation

Personnel records

Occupational health andsafety (OH&S)


Useful additional material for this competency is found in the competency 'Monitor asafe workplace'.

Some of the material in this competency is also relevant as useful additional materialfor the following competencies.

• Manage a small team

• Manage finances

• Undertake business planning

Learner's Guide


Manage a small team

The materials in this competency cover planning and managing staff. They involveindustrial relations, staff selection, staff records, induction, training and teamdevelopment to enhance business operations.



Staff plans

Identifying staff requirements Business plans

Organisational structure Organisational structure

Job requirements

Staffing mix

Job descriptions Sample job description Job descriptions forstaff

Person specifications Person specifications Person specifications

Forming your team

Recruiting staff• Jobnet• Advertising• National standards• Selection criteria• Resumes• Selection

• Advertisingregulations

• Newspaperadvertisements

• Designadvertisements

• Employing friendsand family

• Who would youshortlist?

Learner's Guide



Interviewing Sample job applicationform

Questions to ask in a jobinterview

Open and closedquestions

Reference checking

Staff records• Systems• Grievances

Sample employee leaveform

Induction programs

Industrial relations

Regulations• Awards• Common Law

• Awards• Legal standards

Enterprise BargainingAgreements (EBAs)

• Australian WorkplaceAgreements (AWAs) andCertified Agreeements

Negotiating an EBA

Associations

Management styles

Team meetings Running meetings

Sharing information andideas

Leading a team• Leadership roles • Leadership roles

• Choosing anappropriatemanagement style

Difficult situations Tips for tricky times Handling difficultsituations

Learner's Guide



Staff management

Review team performance Team performancereview

Individual performancereviews

Training and development

Training plans

Meet training needs Training tips

Policies and procedures• Policy contents• Getting help

Sample policy andprocedure manual

Recruitment policy

Occupational health andsafety

Changing needs in staffing

Contingency plan Contingency planningchecklist

Contingency plans

Counselling, disciplinary anddismissal procedures

Procedures forterminating employment

Termination of employment


Useful additional material for this competency is found in the competencies.

• Establish business and legal requirements (Record keeping)

• Monitor a safe workplace

• Monitor and manage business operations (Management systems)

• Undertake business planning (The staffing section)

Learner's Guide


Manage finances

The materials in this competency aim to give learners the skills they need toimplement, monitor and review strategies for the ongoing management of finance ina small business. It also includes day-to-day financial management of the business.

Bookkeeping as such is not taught in detail in this competency but is referred to. Forthis course, learners need enough to be able to talk to and meet the needs ofbookkeepers and accountants. Any learner interested in finding out more than thisshould consider taking a course dealing specifically with bookkeeping.

The topic ‘Managing your business cashflow’ is identical to the topic of the samename in the competency ‘Undertake financial planning’.



Keeping the books

Tax and legal obligations

Record keeping• The importance of good

record keeping

Basic bookkeeping• Basic accounting concepts• Business transaction and

source documents

Purposes ofbookkeeping

The cashbook and supportingjournals

Example journals Basic bookkeeping

Double entry bookkeeping The basic rules ofdouble entrybookkeeping

Learner's Guide



The bank reconciliation• Preparing a bank

reconciliation• Possible causes of bank

reconciliation error

How to propare a bankreconciliations

Bank reconciliationstatements

Financial statements

Balance sheets Fixed business assets

Capital Balance sheet ofBeatrice Stow

Profit and Loss Statements• Balance day adjustments

Sample profit and lossstatement

Ratio Analysis Ratio analysis

Working Capital• Calculating working capital

(Example 1)• Calculating working capital

(Example 2)• Calculating working capital

(Example 3)

Working capital

Cash cycle

Financial ratios• Tracking overdue

accounts• The debtors aging report

Financial ratios

Financial Stability Ratios Financial stability ratios

Learner's Guide



Managing your businesscashflow

How cashflow works

Components of cashflow Stock levels

Cashflow budget

What the cashflow budgetshows

Preparing a cashflow budget

Estimating sales

Estimating cash inflows

Estimating cash outflows

What goes where

Entering data into a cashflowbudget

Cashflow forecast

Taxation requirements

Business or hobby Business or hobby?

Business structures

Australian Business Numbers(ABN)

Australian BusinessNumbers

Learner's Guide



Tax File Numbers (TFN)• Employees and Tax File

Numbers

Tax File Number (TFN)

Withholdingdeclaration

Goods and services tax

Pay As You Go (PAYG)withholding• Payment timing• Payment summaries

Tax tables

PAYG instalments

Fringe Benefits Tax

Wine Equalisation Tax

Luxury car tax

Diesel grants

Pay As You Go (PAYG)instalments• Entities affected by the

PAYG instalments• Payment levels

Capital gains tax Capital Gains Tax

Non-commercial losses

Alienation of personal servicesincome

Alienation of personalservices income

Superannuation guarantee

Business expenses Business expenses

Working from home Home office expenses

Learner's Guide



Rules and regulationsaffecting business finances

Occupational health and safety WorkCover

Environmental issues

Workplace relations Employment relations Awards

Staff records



• Establish business and legal requirements




• Monitor and manage business operations

• Undertake financial planning

Learner's Guide


Monitor and manage business operations

The materials in this competency are concerned with the operation of a business andwith the implementation of the business plan. Strategies presented involvemonitoring, managing and reviewing operational procedures of a small business.



Management systems

Business operations

Performance measures• Time-lined action plan• Cashflow projection• Annual planning wall

charts• 'To do' lists• project management

systems• gantt charts• flow charts• software programs

Gantt charts

Flowcharts

Monitoring systems

Computer softwareprograms

Staff management systems Outsourcing in yourbusiness

Performance appraisals• Key performance

indicators• Appraisal meetings• Specialist skills

Your job description

Informal performanceindicators

Learner's Guide



Stock control • Methods of production• Managing retail stock

Production methods

Stock reserves

Ordering systems

Finance• Banking• Monitoring business

expenditure A sample cashflowstatement

Quality assurance

Quality control• Benchmarking• Quality control methods• Personnel quality• Quality of materials

Quality control

Production processes Production processchecklist

Customer service• Customer charters Service quality and

customer service

Industry codes of practice• Professional associations• Trade associations

Codes of practice

Standards Australia Certification ofstandards

Learner's Guide



Legislative requirements• Anti-discrimination and

equal employmentopportunity (EE) laws

• Occupational health andsafety (OH&S) laws

• Australian workplaceagreements (AWA)

• Environmental laws

Innovation• Risk and innovation• Systematic innovation• Staff culture• Competition• Finance

Risk management

A risk management plan

Insurance Public liabilityinsurance

Identifying risks Identifying risks

Controlling the risks Identifying a risk inyour business

Managing ergonomic risks

Financial risks

Learner's Guide



Occupational health and safetyprocedures and responsibilities• Machinery, tools and

equipment• Hazardous substances• Non-physical environment• Safety signs and notices

Networking

Business promotion

Techniques for networking Business card design

Networking in chatrooms

Networking opportunities

Maintaining networks





• Manage finances


• Promote the business



• Coordinate implementation of customer services strategies



Learner's Guide


Monitor a safe workplace

The materials in this competency aim to make learners aware of their responsibilitiesto implement and monitor Occupational Health and Safety policies (OH&S),procedures and programs within their business to meet legislative requirements.



Rules and regulations Proactive safetystrategies

Injuries and accidents in theworkplace• The cost of accidents and

injuries• The accident pyramid• Common causes of

accidents

The purpose and aims of theAct• The duties of employers• The duties of employees• The duty of others

Safety at work

Acts and Regulations, Codesof Practice and AustralianStandards• Acts• Regulations• Codes of Practice• Australian Standards

Learner's Guide



Safety representatives andcommittees• Work groups• Health and safety

representatives• Health and safety

committee

Designated workgroups

Health and safety policy• What is a policy?

The role of WorkCover officers• The power of WorkCover

officers?• What do WorkCover

officers look for? Safety inspectionchecklist

Machine safety

Safety inspection

Identifying hazards Office safety check

Workshop safetycheck

Physical hazards• Mechanical hazards• Slips, trips and falls• Noise• Temperature• Electrical

Safe machinerychecklist

Safe machinery check

Workplace noise

Temperature hazards

Electrical safety

Chemical hazards Chemicals checklist Chemicals check

Radiation hazards

Ergonomic hazards Survey the work tasks

Psychological hazards Psychological hazards

Biological hazards

Learner's Guide



Controlling hazards Office safety check

Workshop safetycheck

Who assesses the risk? Hazard assessmentchecklist

Setting up a committee

How is the risk assessed? Assessing a hazard

Setting priorities

Methods of controlling hazards• Elimination• Substitution• Enclosure/isolation• Engineering methods• Work practices• Administrative controls• Training and education• Personal protective

equipment (PPE)

Hierarchy of controls

Hierarchy of secondlevel controls

Documenting a riskassessment

Risk assessment Documenting risk

Training and involving staff

Identifying training needs Training needsassessment checklist

Training needsassessment

Conducting training

Crucial elements of effectivetraining

Work group assessments andtraining

Interview checklist Safety training in awork group

The culture of the workplace Attitudes in yourworkplace

Learner's Guide






• Manage finances



Learner's Guide


Promote the business

The materials in this competency aim to give you the skills needed to develop andimplement marketing strategies and monitor and improve market performance.

The topic ‘Market analysis and research’ is identical to the topic of the same name inthe competency ‘Research business opportunities'.



Marketing planning Sample marketing plan

Marketing

The business plan

The marketing plan Sample marketing plan

Marketing goals Psychographics

The SWOT analysis New businessopportunities

Your own SWOTanalysis

Marketing segmentation

Implementation, evaluationand control

Advertising strategy

Learner's Guide



Market analysis andresearch

Market researchchecklist

Researching the market

Marketing informationapproach• The six steps of the

marketing informationapproach

Types of market research• Secondary external

research• Seconddary internal

research• Primary research• Qualitative and

quantitative research

Sources of secondaryexternal material

Secondary externalresearch

Survey techniques

Customer satisfaction survey• Understanding the

customer• Understanding the

customer relationship

Interviewer influence

Customer satisfactionsurvey

Competitor analysis

Observational research

'Grass roots' informationsystems• Customer complaints

• Sales team training

Learner's Guide



Marketing mix

Product

Price

Place Place strategies

Place and the Internet

Promotion• Market communication

goals• The marketing

communication mix

Television commercials

Evaluation

The marketing audit Accounting packages

Analysis of sales volume• Total sales volume• Analysing sales volume

by territories Sales targets anddemand fluctuations

Sales by products• Benefits analysis by size

of order• Territorial decisions• Problems involved in cost

analysis• Findings from volume

and cost analysis

Test marketing

Customer satisfaction Customer dissatisfaction

Learner's Guide



Useful additional material for the task in this competency is found in the competency'Undertake business planning'.


• Coordinate implementation of customer service strategies



Learner's Guide


Research business opportunities

The materials in this competency aim to give you the skills to investigate andresearch available business opportunities and assess their feasibility.

The topic ‘Market analysis and research’ is identical to the topic of the same name inthe competency ‘Promote the business’.



Personal business skills

Starting out

Characteristics of a smallbusiness

The attributes of a businessoperator

What to expect from runninga small business

Sacrificing salary

Identifying businessopportunities

Ways of getting into smallbusiness

Purchasing a franchise

What are the risks involved?

Undertaking a feasibilitystudy

Feasibility studychecklist

Feasible business ideas

Testing feasibility

Conducting a SWOT analysis SWOT analysisworksheet

Gaining staff input for aSWOT analysis

Conducting a SWOTanalysis

Learner's Guide



What will be your competitiveedge?

Identifying a niche

Accessing information andadvice

The information you need toknow

Promotional activities

Professional advisors Industry associations

Industry associations

Defining your market

Understand your marketplace Identifying competition

Undertaking a gap analysis Filling market gaps

Matching services toneeds

Market analysis andresearch

Market researchchecklist

Researching the market

Marketing informationapproach• The six steps of the

marketing informationapproach

Types of market research• Secondary external

research• Secondary internal

research• Primary research• Qualitative and

quantitative research

Sources of secondaryexternal material

Secondary externalresearch

Survey techniques

Learner's Guide



Customer satisfaction survey• Understanding the

customer• Understanding the

customer relationship

Interviewer influence

Customer satisfactionsurvey

Competitor analysis

Observational research

'Grass roots' informationsystems• Customer complaints• Sales team training



Learner's Guide


Undertake business planning

The materials in this competency aim to give learners the skills they need forresearching and developing a business plan to achieve business goals andobjectives.



Your task Business plan template

The reasons for planning Is it worth starting abusiness?

Jo starts a business

Start-up Lending money to afriend to start abusiness

Repositioning Factors affectingposition

Franchising Survey franchiseoperators

Consolidating or downsizing

Departmental planning Departmental strategicplans

What is a business plan? A business plan for staff

Different types of businessplans and purposes

What business plansapply

Learner's Guide



General layout• Executive summary• Business description• Mission, goals and

objectives• Marketing research

(current and futurebusiness envionment)

• Marketing strategy andtactics

• Production/serviceoperatiion plan

• Financial plan andcashflow forecast

• Progress monitoringstrategies

• Conclusions andrecommendation

• Appendices

Business monitoringstrategies checklist

Executive summary

Writing a businessdescription

Mission, goals andobjectives

Marketing strategy andtactics

Progress monitoringstrategies

Examples of business plans A business plan for staff

Mission, goals andobjectives

Missions, goals andobjectives

Classifying mission,goals and objectives

Mission

Goals

Objectives

Developing a business plan

Finding key information

Learner's Guide



The main information areas• Customer needs• Resources – human and

physical• Federal, state and

common law requirements• Trade associations and

industry influences

Matching research to businessplan objectives

The financial section

Sources of finance

Cost of finance The cost of finance

Liquidity• Cashflow forecast Blank business cashflow Your own business

cashflow forecast

Profitability Profitability

Wealth

Monitoring progress

The marketing section

Marketing concept Matching services toneeds

Marketing research

Learner's Guide



Marketing strategies• Market penetration• Market development• Competitive advantage• Market niche

Marketing strategies

Benefits and attributes

Intellectual property Searching for abusiness name

Promotions• Advertising• Face to face selling• Sales promotions• Public relations and

publicity

Promotions mix

Selling and customer servicemethods

Customer servicespolicies

Location and distribution

Getting the mix right

The operations section

Scheduling Scheduling thepromotions mix

Achieving goals and objectives

Efficiency versus effectiveness Efficiency versuseffectiveness

Legal structure What's your businessstructure?

Learner's Guide



Occupational health and safety(OH&S)

Occupational healthand safety (OH&S) foryour business

Monitoring progress Key performanceindicators for yourbusiness

The staffing section Staffing

What's a business withoutpeople?

Internal versus externalcustomers

Internal customerservice

Best practice in humanresource management• 360 degree performance

appraisal• teamwork• valuing soft assets

Human resourcemanagement

Industrial relations, EEO andanti-discrimination

Employing people

WorkCover, superannuationand holidays

WorkCover andsuperannuation

Succession planning Succession planning

Tapping specialist services

Costs and benefits ofconsultants

Pros and cons

Learner's Guide



Who's essential and how touse them effectively• Accountants• Lawyers• Financial planners• Business mentors or

coaches• Computer specialists• Advertising agencies• Employment agencies• Business plan consultants• Staff training consultants• Performance appraisal

consultants• Occupational health and

safety (OH&S) consultants

Risk in business

Definition of risk What is risk?

Why risk is different fordifferent people andbusinesses

Insurance and risk

Risk management strategies• Insurance• Market intelligence• Diversification

Taking risks

Occupational health and safety(OH&S) planning to minimiserisks to staff

Occupational healthand safety (OH&S)improvement plan

Learner's Guide



Contingency plans (tips andtricks for handling risk)

Contingency plans



• Coordinate implementation of customer service strategies





• Research business opportunities

• Undertake financial planning





Learner's Guide


Undertake financial planning

The materials in this competency aim to give you the skills they need to develop afinancial plan to support business viability.

The topic ‘Managing your business cashflow’ is identical to the topic of the samename in the competency ‘Manage finances’.



Business viability

Personal financial position Personal financial worth

Monthly financialcommitment

Starting a new business Start-up costs

Purchasing an existingbusiness

Buying a franchised business Buying a franchise

Business establishment costs

Determining working capitalneeds

Determining workingcapital needs

Working capital

Business legal structures

Budgeting and control

The budgeting process

Learner's Guide



Operating budgets• The research and

development budget• The sales budget• The production budget• A production costs

budgetp• The purchasing budget• The human resources

budget• The administration and

finance budget• The budgeted income

statement

Research anddevelopment

Sales budget

Production costsbudget

The purchasing budget

Human resourcesbudget

The administration andfinance budget

The financial budget

Asset management strategies• Buying capital assets• Leasing capital assets

Costing and pricing for yourbusiness

Formulas for costingand pricing calculations

Sample pricingcalculations

Business costs

Cost volume profit analysis• Total fixed costs• Total variable costs• Mixed or semi-variable

costs• Step costs or semi-fixed

costs

Learner's Guide



Contribution margins andbreakeven points• Breakeven calculations

(old Magz 4U activity)

Formulas for costingand pricing calculations

Sample pricingcalculations

Sales revenue

Chargeout Rates Peter's chargeout ratecalculation

Chargeout rate

Retailer markup• Calculation of markup• Sensitivity analysis

Retail markup

Managing your businesscashflow

How cashflow works

Components of cashflow Stock levels

Cashflow budget

What the cashflow budgetshows

Preparing a cashflow budget

Estimating sales

Estimating cash inflows

Estimating cash outflows

What goes where

Entering data into a cashflowbudget

Cashflow forecast

Taxation

Business or hobby? Business or hobby?

Learner's Guide



Business structures

Australian Business Number(ABN)

Australian BusinessNumber (ABNs)

Tax File Number• Employees and Tax File

Numbers (TFNs)

Tax file number (TFN)

Withholdingdeclaration

Goods and Services Tax(GST)

Raising finance

Debt funding versus equityinvestment• Debt capital and equity

capital sources

Debt capital

Equity capital

Debt finance Debt finance

Equity finance

Choosing between debt andequity• Debt products

Features of debtproducts

Choosing debt orequity finance

Taxation implication of debtproducts

Preparing to seek finance Seeking finance


Useful additional material for this competency is found in the competency 'Managefinances'.


learner’s guide · we would like to thank all advisors, writers, technical editors and reviewers...

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