Chapter Name: Identify and analyse business opportunities
Description:Equips learners with skills to systematically identify and analyze potential retail business opportunities through market research and competitive analysis.
Purpuse:Enable critical assessment of market dynamics to discover and validate viable retail business opportunities.
Rational:Supports strategic growth by fostering the ability to recognize and evaluate market-based opportunities in a dynamic retail environment.
Chapter Assessment
Scope of Practical Skill
Key Requirement 1: Follow implementation steps and review for improvement
Learner will evaluate a business environment or scenario to determine viability, trends, and key influencing factors.
Key Requirement 2: Analyse the specific situation
Learner will determine the correct business processes (e.g., research, testing, feasibility analysis) necessary for opportunity evaluation.
Key Requirement 3: Identify the appropriate processes that must be used
Learner will implement the chosen processes and present findings in a structured, professional format.
Key Requirement 4: Apply the processes and package the findings and
Learner will develop an implementation plan and review the outcomes to identify improvements.
Assessment Questions
Assessment 1 : Observe and evaluate the extent to which the candidate follows the procedural steps and applies the behavioural processes
The learner is expected to analyse the specific situation in the context of identifying and analysing business opportunities.
Assessment 2 : Evaluate the level of demonstrated understanding of the theories and concepts that underpin the applied techniques
None