BSBESB301 — Investigate business opportunities

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What an assessment for BSBESB301 must cover

26 assessable components: 3 elements (13 performance criteria), 3 performance evidence and 6 knowledge evidence requirements, plus 4 foundation skills. An audit-defensible tool maps every question and task back to these — that mapping is the coverage matrix Auditori generates alongside the assessment.

Elements & performance criteria

1 Identify potential opportunities for business

1.1Source and analyse market information for potential opportunities
1.2Analyse information and list details of business ideas and opportunities
1.3Identify and describe products and/or services that match business ideas
1.4Identify and analyse available business, financial, digital technology and technical factors related to the potential opportunities
1.5Identify customers for the products and/or services

2 Investigate market needs and factors affecting market

2.1Collect, investigate and analyse business and market information, trends and developments from primary and secondary sources to identify market needs related to business opportunities
2.2Identify ethical and cultural requirements of the market
2.3Identify projected changes in population, economic activity and other macro external factors that may impact business opportunities
2.4Review identified needs and factors and identify their potential impact on business opportunities
2.5Investigate marketing and promotion activities and strategies for identified products and/or services

3 Finalise investigation into business opportunities

3.1Review personal factors against business opportunities and identify their impact on opportunities
3.2Examine options to address and minimise negative impact and strengthen positive impact of personal factors
3.3Document outcomes of investigation into business opportunity

Performance evidence

identify and investigate at least one business opportunity and assess the probability of success.
research and analyse information from a range of sources for its potential impact on the market, products and/or services, and customers
match personal factors to business opportunities.

Knowledge evidence

sources of business and market information on business ideas and potential business opportunities, including: potential clients and past leads; competitor activities, products and services; industry trends and insights; legislative and regulatory requirements relevant to opportunities being investigated
market information, trends and developments, including: new and emerging markets and their features; expected market growth or decline and associated risk factors; economic activity, including projected or potential movements in prices; projected changes in availability of resources
personal factors involved in choosing preferred opportunity include: own skills and aspirations; own commitments, expectations and capabilities
criteria for determining the viability of a business opportunity, including: market size, potential, needs and trends; financial considerations; benefits and challenges of digital technologies relevant to opportunities; resource availability
business research methods and data collection tools and software
impact of ethical and cultural requirements of market on opportunities and products.

Foundation skills

Reading: Analyses and evaluates information and integrates facts and ideas
Writing: Uses information and industry-related terminology to develop required documentation
Numeracy: Extracts, evaluates and compares numerical information to determine resources and identify trends
Technology: Uses a range of digitally based technology and applications to access and filter data, and then extract, organise and integrate relevant information

Unit content sourced from training.gov.au — © Commonwealth of Australia, licensed under CC BY 4.0. Auditori is not affiliated with the Department of Employment and Workplace Relations.

See what you get before you start

Real, unedited Auditori output (RIIHAN201E shown), branded for a sample RTO:

Questions about assessing BSBESB301

What does an assessment tool for BSBESB301 need to cover?

To satisfy the Principles of Assessment and Rules of Evidence, an assessment for BSBESB301 needs to address all 26 unit components: 3 elements with 13 performance criteria, 3 performance evidence requirements, 6 knowledge evidence requirements, and the foundation skills. A coverage matrix mapping each question and task to these components is what an auditor looks for.

How does Auditori generate an assessment tool for BSBESB301?

Auditori pulls the current release of BSBESB301 from training.gov.au and generates a complete package: candidate assessment, assessor guide with model answers and observation criteria, and a coverage matrix mapping every component. A suitably qualified person then reviews and approves the draft in a built-in workflow — consistent with ASQA's guidance on AI use in VET — before export as branded PDF and editable Word.

Is the first assessment tool really free?

Yes. Every new account includes one free credit — enough to generate the complete assessment tool for BSBESB301 — with no card and no subscription required. After that it's pay-as-you-go per unit.

Can I check my existing BSBESB301 assessment instead of generating a new one?

Yes — upload your existing assessment or learner guide and Auditori maps it against every element, performance criterion, PE and KE of BSBESB301, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.

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