SRJ - 807 - Incomplete - ,,word Count 1330

BSBSTR601
MANAGE INNOVATION AND CONTINUOUS

IMPROVEMENT
BSB60420
ADVANCED DIPLOMA OF LEADERSHIP AND

MANAGEMENT
_______________________________________
STUDENT ASSESSMENT
_______________________________________
KINGSTON INSTITUTE OF AUSTRALIA

Level 7, 8 Quay Street, Haymarket (Sydney CBD) NSW 2000, Australia
Phone: 61 02 80652990.
INTRODUCTION
Purpose
This document provides necessary information to guide learners to undertake the assessment of the
following unit.
 BSBSTR601 - Manage innovation and continuous improvement
Unit summary and application
This unit describes the skills and knowledge required to sustain and develop an environment in
which continuous improvement, innovation and learning are promoted and rewarded.
The unit applies to individuals with managerial responsibilities who aim to build a better and more
effective work environment. Continuous improvement and innovation have links with the model of
the learning organisation and people working at this level play an important role in building the
culture, values and attitudes of the organisation.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Sector
Business Competence – Financial Literacy
Pre-requisites
There are no recommended pre-requisite units for this unit.
Issue Date: October 2022 Version: 1.0 Review Date: October 2023 Authorised by: Compliance Manager
Doc: BSBSTR601 Student Assessment Page 2 of 62
ASSESSMENT INFORMATION FOR STUDENTS
Throughout your training, Kingston Institute of Australia is committed to your learning by providing a
training and assessment framework that ensures the knowledge gained through training is
translated into practical on the job improvements.
You are going to be assessed for:
 Your skills and knowledge using written and observation activities that apply to the workplace
or a simulated environment.
 Your ability to apply your learning.
 Your ability to recognize common principles and actively use these on the job.
All of your assessment and training is provided as a positive learning tool. Your assessor will guide
your learning and provide feedback on your responses to the assessment materials until you have
been deemed competent in this unit.
Assessment Process
The process we follow is known as competency-based assessment. To achieve competency in this

unit, you need to consider the components of the training package and fulfill the assessment
requirements. Some of the components are Elements, Performance Criteria, Performance Evidence,
Knowledge Evidence and Assessment Conditions. For more details on components, please visit the
following links and search for the unit using the unit code;
https://training.gov.au/Training/Details
In competency-based assessment, the evidence of your current skills and knowledge will be
measured against national standards of best practice, not against the learning you have undertaken
either recently or in the past. Some of the assessment will be concerned with how you apply your
skills and knowledge in the workplace, and some in the training room as required by each unit.
The assessment tasks have been designed to enable you to demonstrate the required skills and
knowledge and produce the critical evidence to successfully demonstrate competency at the
required standard.
Your assessor will explain the assessment process and ensure that you are ready for assessment.
Your assessment tasks will outline the evidence to be collected and how it will be collected, for
example; a written activity, case study, or demonstration and observation.
If you have any special needs to be considered during assessment, changes can be made to the
way assessment is undertaken to account for special needs and this is called making reasonable
adjustment.
Reasonable Adjustments
The institute makes reasonable adjustments to assessments and assessment conducting process,
to meet the special needs of identified students. Reasonable adjustments are made in such a way
that the identified students do not use it to take extra advantage than other.
What if I believe I am already competent before training?
If you believe you already have the knowledge and skills to be able to demonstrate competency in
this unit, speak with your trainer, as you may be able to apply for Recognition of Prior Learning
(RPL).
Credit Transfer
Credit transfer is a recognition for study you have already completed. To receive Credit Transfer,
you must be enrolled in the relevant program. Credit Transfer can be granted if you provide the
institute with certified copies of your qualifications, a Statement of Attainment or a Statement of
Results along with Credit Transfer Application Form. (For further information, please visit Credit
Transfer Policy of the institute)
Assessor Responsibilities
Assessors need to be aware of their responsibilities and carry them out appropriately. To do this
they need to:
 Ensure the students read and understand ‘Assessment Information for Students’ prior
conducting the assessments.
 Ensure the students are assessed fairly based on the outcome of the language, literacy and
numeracy review completed at enrolment.
 Ensure that all documentation is signed by the student, trainer, and assessor when units and
certificates are complete, to ensure that there is no follow-up required from the administration
perspective.
 Ensure that their own qualifications are current.
 When required, request the manager or supervisor to determine that the student is
‘satisfactorily’ demonstrating the requirements for each unit. ‘Satisfactorily’ means consistently
meeting the standard expected from an experienced operator.
 When required, ensure supervisors and students sign off on third party assessment forms or
third party report.
 Follow the recommendations from moderation and validation meetings.
WHS Guidelines
The institute seeks to ensure the health and safety of everyone in its workplaces. Meanwhile as a
duty of care, all employees, students and visitors of the institute are to ensure their own and others
health and safety while at the institute’s premises. Your trainer/assessor will inform you of the WHS
guidelines that you should follow in and out of the classes and in the workplace environment.
How can I get resources to prepare for the assessments?
Resources Description
Learner resource You can get learner resource that contains detail explanation of the
syllabus of the unit, from the Library or College Administration Office.
PPT slides You can download PPT slides from your Moodle account or get it
from the Trainer, upon request.
Additional You can get additional resources in the form of PDF files, URLs,
Resources Videos, etc. from the Moodle. Additional books and print outs are
also available from the Library of the college.
How should I format my assessments?
You can download the document the institute’s ‘Style Guide’ from your Moodle account. The Style
Guide has all instructions on how to format your assessment. It includes information related to the
required Font Type/Size/Color, Indents, Spacing, Bullets, Numbering, etc.
How long should my answers be?
The length of your answers will be guided by the description in each assessment, for example:
Type of Answer Answer Guidelines
Short Answer 4 typed lines = 50 words, or
5 lines of handwritten texts
Long Answer 8 typed lines = 100 words, or
1
10 lines of handwritten texts = of a foolscap page
3
Brief Report 500 words = 1 page typed report, or
1
50 lines of handwritten texts = 1 foolscap handwritten pages
2
Mid Report 1,000 words = 2 page typed report
Long Report 2,000 words = 4 page typed report
In case if any variation is needed in the length of the answers, your trainer will give you the
instructions.
How should I reference the sources of information I use in my assessments?
Include a reference list at the end of your work on a separate page. You should reference the
sources you have used in your assessments using the referencing style suggested by your Trainer.
How should I submit the assessments?
You must consider the following important points before you submit your assessment.
 You must submit the assessments of a unit in PDF format or Word format as suggested by the
trainer/assessor, by the ‘Due Date’ mentioned in the submission portal of your Institute’s
Moodle account
 If needed, your trainer may separate the assessments and set different due dates for different
assessments, assessment cover sheet and student declaration forms.
 If there is a single due date for all assessments, submit them in a same single assessment file
that you download from your Moodle account.
 In both cases, you must complete the assessment cover sheet and student declaration section
available to you along with the assessment package.
 Any evidence that may not be suitable to include inside the assessment package, may be
submitted separately in submission portal of the Moodle, after consultation with the
trainer/assessor.
 Before submission, you must ensure all required tasks are completed and evidences are
submitted. Your assessor may not accept your submission if an incomplete assessment is
submitted.
 If you face any technical problem during the submission of assessments in the Moodle, please
notify the college administration or the assessor with proper evidence of the problem, prior to
the Due Date.
How does the college ensure fairness, flexibility, validity and reliability of the assessment?
To help students achieve competency in a unit, the institute may use different methods for
assessments. In the process, the institute ensures the principle of fairness, flexibility, validity and
reliability are met through the following ways;
Fairness
 The institute ensures the student is fully informed of the assessment process and that the
student has to fill declaration form before the start of the assessment.
 Student can also transfer the credit if the competency has already been achieved by the
student.
 For if the student wants recognition of prior learning (RPL), the institute makes it available,
upon request.
 To address the special needs of any student, reasonable adjustments can be made to the
assessment through contextualization.
 If the student is not satisfied with the grading of the unit, he/she can go for an appeal process,
challenge the assessment decision and have the assessment reviewed objectively.
Flexibility
 The institute uses a range of assessment methods to allow student demonstrated competency
in a varieties of ways. These methods can be written activity, practical activity, observation and
demonstration, case study, etc.
 For if the student wants recognition of prior learning (RPL), the institute makes it available,
upon request. Adjustments will be made on the training and assessment of that student.
 Based on the institute’s Assessment Policy, multiple chances are given to the students for
assessment submission and additional training can be arranged in case if competency is not
yet achieved, even after the regular effort of the assessor and the students.
Validity
 The institute ensures the assessment tasks used to assess student’s competency for each unit
fulfil assessment requirements for performance evidence, knowledge evidence, performance
criteria and foundation skills, as mentioned in the Training Package of the Unit of Competency.
 Students are given opportunity to demonstrate skills by actually doing practical tasks than just
theoretical explanation and by providing various ways to demonstrate the skills.
Reliability
 To ensure reliability in assessment grading, the institute has created an efficient assessment
system. Assessors are provided with learner resources, PPT slides and assessment guide, so
that there is consistency in assessment grading even when different assessors are grading the
assessments.
 Assessors are asked to provide feedback on student assessments and also fill the marking
guide on each assessment of the students.
How does the assessor make decisions during the assessment grading?
The students are declared competent by the assessor only if the knowledge and performance
evidences submitted by the student are valid, sufficient, authentic and current, and if the student
demonstrate the required foundation skills, during observation and demonstration.
Validity
To ensure the validity of evidence submitted by you, during grading the assessor will ensure your
performance matches the performance requirement as described in the competency standard. This
is why you should be able to demonstrate the required knowledge and skills through your evidences,
to ensure your evidences are valid.
Sufficiency
To ensure the sufficiency of evidences submitted by you, the institute ensures the assessment tools
being used are valid and reliable to collect all required evidences as described in the competency
standard. During grading, the assessor will ensure that you provide all required evidences as per the
assessor’s checklist for each assessment. This is why you should always consult with the assessor
and read the assessment requirements for the unit to ensure the evidences are sufficient.
Authenticity
To ensure the authenticity of evidence submitted by you, the assessor, when in doubt, may compare
your assessment with a group of other assessments and resources from the internet, and check for
similarity. Meanwhile during moderation of assessment, a team from the institute may identify
similarities in different assessments. As long as the assessments are similar to an acceptable range
as per the Student Assessment Policy and Procedure of the institute, your assessment will be
deemed authentic. This is why you should ensure your assessment is your own work and that
references are given if resources are used from the internet.
Plagiarism is not accepted in Australian education system and at the institute. You should not
practice any plagiarism in your assessments or any other works. Plagiarism practices may affect
your results of the assessment as well as your student visa. Student Assessment Policy and
Procedure is shared in every orientation event during every intake. This policy’s hard copy is kept at
the reception desk of the institute.
Currency
To ensure the currency of evidence submitted by you, the institute performs validation activities of
assessment that involves checking that your assessment tools have produced valid, reliable,
sufficient, current and authentic evidence. Meanwhile, the trainer/assessor will continuously observe
your performance during the training period. The trainer/assessor may ask you to demonstrate the
required skills in the simulated environment or the workplace environment. You can ensure your
evidences are current by attending the training on a regular basis and demonstrating the knowledge
and performance evidences under the observation of the trainer/assessor.
What happens after the submission of assessments and in case of no submission?
After the submission of assessment, your assessor will grade your assessment and take different
actions at different stages of grading and feedback process. Please adhere to the Student
Assessment Policy and Procedure for more details on how the grading and feedback process will
occur and what will happen if no submission of assessment is made.
What if you disagree on the assessment outcome?
You can appeal against a decision made in regards to your assessment. An appeal should only be
made if you have been assessed as ‘Not Yet Competent (NYC)’ against a specific unit and you feel
you have sufficient grounds to believe that you are entitled to be assessed as competent. You must
be able to adequately demonstrate that you have the skills and experience to be able to meet the
requirements of units you are appealing the assessment of.
Your trainer will outline the appeals process, which is available to the student. You can request a
form to make an appeal and submit it to your trainer, the course coordinator, or the administration
officer. The institute will examine the appeal and you will be advised of the outcome within 14 days.
Any additional information you wish to provide may be attached to the appeal form.
ASSESSMENT GUIDE
The following table shows you how to achieve a satisfactory (S) result against the criteria for each
type of assessment task. The following is a list of general assessment methods that can be used in
assessing a unit of competency. Check your assessment tasks to identify the ones used in this unit
of competency.
Assessment Method Satisfactory(S) Result Not Yet Satisfactory (NYS) Result
You will receive an overall result of Competent (C) or Not Yet Competent (NYC) for the unit. The
assessment process is made up of a number of assessment methods. You are required to
achieve a satisfactory result in each of these to be deemed competent overall. Meanwhile, you
must demonstrate satisfactory foundation skills to the assessor, during the observation of
demonstration of the assessment tasks, and through the submission of evidences. Your
assessment may include the following assessment types.
Questions All questions answered correctly Incorrect answers for one or more
questions
Answers address the question Answers do not address the

in full; referring to appropriate question in full. Does not refer to
sources from your workbook appropriate or correct sources.
and/or workplace
Written Activity The assessor will mark the Does not follow
activity against the detailed guidelines/instructions
guidelines/instructions
Attachments if requested are Requested supplementary items

attached are not attached
All requirements of the written Response does not address the

activity are addressed/covered. requirements in full; is missing a
response for one or more areas.
Responses must refer to One or more of the requirements

appropriate sources from your are answered incorrectly.
workbook and/or workplace
Does not refer to or utilize
appropriate or correct sources of
information
Observation/ All elements, criteria, knowledge Could not demonstrate elements,

and performance evidence and criteria, knowledge and
Demonstration
critical aspects of evidence, are performance evidence and/or
demonstrated at the appropriate critical aspects of evidence, at the
AQF level appropriate AQF level
Case Study All comprehension questions Lack of demonstrated

answered correctly; comprehension of the
demonstrating an application of underpinning knowledge (remove)
knowledge of the topic case required to complete the case
study. study questions correctly. One or
more questions are answered
incorrectly.
Answers address the question Answers do not address the

in full; referring to appropriate question in full; do not refer to
sources from your workbook appropriate sources.
and/or workplace
Practical Activity All tasks in the practical activity Tasks have not been completed
must be competed and effectively and evidence of
evidence of completion must be completion has not been provided.
provided to your
trainer/assessor.
All tasks have been completed

accurately and evidence
provided for each stated task.
Attachments if requested are Requested supplementary items

attached are not attached
ASSESSMENT SUMMARY/COVER SHEET
Assessment Cover Sheet
Course code/name: BSB60120 Advanced Diploma of Business
Unit code/name: BSBFIN601 Manage organisational finances
Assessor’s name:
Student’s name:
Due Date:
Submission date:
Student Declaration
I declare that.
 I am aware of the assessment process.

 I am aware of all the components of the assessments that includes assessment conditions,
knowledge and performance evidence, elements and performance criteria and foundation
skills.
 I am aware of the assessment tasks, requirements and due dates.
 I am aware of Kingston Institute of Australia’s assessment policy and appeal process.
 I am aware that plagiarism is not accepted in the institute.
 I am aware of my rights to appeal, if I am not satisfied with my results.
 The material I have submitted is my own work.
 I have kept a copy of all relevant notes and reference material that I used in the production
of my work.
 I am aware of WHS guidelines that should be followed at the institute and workplace
environment.
 I have given references for all sources of information that are not my own, including the
words, ideas and images of others.
Student Signature: _______________________ Date: ______________________
Assessment Outcome
Assessment Tasks Assessment Results
Assessment 1: Written Activity S NYS
Assessment 2: Practical Activity (project portfolio) S NYS
Feedback / Comments:
Overall Outcome
Competent Not yet Competent
Student Declaration:
 The result of my performance in this unit has been discussed and explained to me.
□ I want to make an appeal against the overall outcome of the assessments.
Student signature: _____________________ Date: _____________
Assessor Declaration:
 I declare that I have conducted a fair, flexible, valid and reliable assessment with the student and that
the evidence submitted to me are valid, sufficient, authentic and current.
Assessor’s Signature: __________________ Date: _____________
Assessment Task 1: Knowledge questions
Questions
Provide answers to all of the questions below:
1. Outline two methods for conducting cost-benefit analysis.
Cost-benefit analysis compares the costs and benefits of a project and then decides whether
or not to proceed with the project. The costs and benefits of the project are expressed in
monetary terms after the adjustment to the time value of money, providing a true and fair view
of the costs and benefits.
The two methods of conducting cost-benefit analysis are as follow:
i. Net Present Value Model
Net Present Value (NPV) is a financial measure that attempts to capture the total value of an
investment opportunity. The idea behind NPV is to forecast all future cash inflows and outflows
from an investment, discount all of these future cash flows up to today, and then add them up. The
resulting number after adding all the positive and negative cash flows is the NPV of the investment.
A positive NPV means that after taking into account the time value of money, you will earn money if
you continue to invest.
The NPV of a project is the difference between the present value of the benefits and the present
value of the costs. If NPV > 0, then the project has an economic justification for implementation. It
is represented by the following equation:
NPV = ∑ present value of total future benefits – ∑ present value of total future costs
ii. Benefit Cost Ratio
The benefit-cost ratio (BCR) is a ratio used in a cost-benefit analysis to summarize the overall
relationship between the relative costs and benefits of a proposed project. BCR can be
expressed in monetary or qualitative terms. If a project has a BCR greater than 1.0, the project
should provide a positive NPV to a company and its investors The Benefit-Cost values by
calculating the ratio between the sum of the present value of the benefits associated with a
project and the sum of the present value of the costs associated with a project.
BCR = ∑ Present value of total future benefits / ∑ Present value of total future costs
The higher the value greater than 1, the greater the advantages of the alternative considered.
When using the cost-benefit ratio. The analyst must choose the project with the best cost-benefit
ratio.
2. List three ways that knowledge management systems can be established in an organisation.
Knowledge management is beneficial to every organization, regardless of the use case. It can
increase operational efficiency, empower employees, improve customer experience, and lay
the foundation for AI.
The ways that knowledge management systems can be established in an organisation are:
i. Establish your goals and objectives
Before you begin knowledge generation, it's important to define a process that defines the
parameters of your initiative. To do this, you may need to identify and document the business
issues that need to be resolved and the drivers that justify implementing knowledge
management. Knowledge management can help many business initiatives, e.g. B. in ticket
redirection, improving self-services, improving customer experience, on boarding employees,
leveraging AI, and more.
ii. Develop a change management strategy
Successfully implementing a new knowledge management solution requires changes in your

organization's standards. Employees will need to adapt how they capture and share
knowledge, and in some cases individuals may even resist a new knowledge-based culture.
For this reason, it is important to reach people at all levels in different departments who
encourage knowledge sharing behaviours and provide valuable feedback to the
implementation team.
iii. Involve leadership
From the very beginning, leadership is best to play a visible role in your knowledge
management initiative. Your leadership team should be committed to your goals and
objectives, and most importantly, be active on the platform. The active participation of the
management team will show the entire organization how important this knowledge initiative is
and will be a direct reflection of how seriously employees will take this change.
3. Complete the table to identify and explain three types of continuous improvement
systems/processes that can be used in an organisation. The first row has been completed as
an example for you to follow.
System or Process Explanation
Continuous improvement This sets out actions to be taken into the future.
plan
Key Performance (KPI) is a measurable value that shows how well a company is
Indicator achieving key business goals. Organizations use KPIs to
measure their progress and success in achieving goals. A
good KPI is realistic, clear and easy to measure. They are
Review Date: October

Issue Date: October 2022 Version: 1.0 Authorised by: Compliance Manager
2023
used to define improvement priorities and track the progress of
improvement projects. Below are examples of indicators used
to measure continuous improvement activities: Hired
improvement projects, The project statute approved and
signed, SOPs developed after improvement projects,
Completed improvement projects and Involvement of the
financial department in improvement projects.
People and culture An approach which involves everyone - leadership,

management and employees in finding and eliminating waste
on an ongoing basis. Strong leaders lay the foundation for the
culture they want to achieve. If you believe that the path to
success for your organization is through continuous
improvement, these actions will help you create the culture you
need. Set the tone by rolling up your sleeves and getting to
work with the rest of your team. Build a team of leaders who
continually improve their own processes and talk about them at
every opportunity.
Innovation and Creation The progress that brings effective work environment, gain
feedback, create open communication and build upon
developing an innovative workplace. The companies best
positioned to survive and thrive through the ups and downs of
economic cycles are those that continue to innovate regardless
of the economic cycle. In tough economic times, innovation
can help your business achieve real efficiencies. In times of
prosperity, companies with innovative processes can meet
growing demand faster and more cost-effectively than their
competitors.
4. Complete the following table regarding creativity and innovation theories and concepts.
List one creativity and Summarise the theory, including key concepts
one innovation theory
Ozborn-Parnes Model This theory indicates that creativity consists of five stages,
namely finding facts, finding problems, finding ideas, finding
solutions and finding acceptance. It offers a structured
approach to problem solving. This leads to more possible
solution options using divergent and convergent approaches.
You create innovative approaches to change. It is a
collaborative approach that allows multiple participants. By
involving several participants in the search for solutions, you
create a positive environment and buy-in from the
participants. This approach can be learned. You can use
these skills in different areas of life. Other business
management applications, such as decision support systems,

2023
analytics, dashboards, and performance management tools,
can help improve business strategy and decision making.
Disruptive Innovation In disruptive innovation theory, an innovation is one that

Theory creates a new market and value network and ultimately
disrupts existing ones, crowding out incumbent firms,
products, and alliances. Disruptive innovation describes a
process by which a product or service first takes root in
simple applications at the lower end of a market – usually by
being cheaper and more accessible – and then moves
relentlessly towards the market. high-end, ultimately
supplanting established competitors. Disruptive innovations
are not revolutionary technologies that improve good
products; rather, they are innovations that make products and
services more accessible and affordable, making them
available to a wider population.
5. Discuss (in one or two paragraphs) three principles that are relevant to organisation learning.
In your answer, identify the principles and explain what each one means as an organisational
learning principle.
The three key processes that occur in organizational learning are:
i. Knowledge creation
Knowledge creation refers to the continuous combination, transfer and transformation of

different knowledge. This happens when users interact, practice and learn. Simply stated; It is
the generation of ideas that gives a company its competitive edge. Knowledge creation is the
formation of new ideas and concepts. This happens through interactions between explicit and
implicit knowledge in people's minds (Knowledge creation,2019).
Knowledge creation - definition and meaning (2019) Market Business News. Available at:
https://marketbusinessnews.com/financial-glossary/knowledge-creation/ (Accessed: October
24, 2022).
ii. Knowledge retention
Knowledge retention, or knowledge management, is the process of transferring new

information from short-term memory to long-term memory. But because human memory is
imperfect, there is a constant need for educators to find effective and creative teaching
strategies to support the long-term retention of knowledge in their students. (Watkins,2021)
Watkins, A. (no date) Knowledge retention: 7 strategies for Healthcare educators, Knowledge
Retention: 7 Strategies for Healthcare Educators. Available at:
https://www.ausmed.com.au/cpd/articles/knowledge-retention (Accessed: October 24, 2022).

2023
iii. Knowledge transfer
Knowledge transfer is the process by which an entity such as a department, group, team,
department, etc. is influenced by the experiences of another and can manifest itself in
changes in the knowledge or performance of the recipient entities and can be demonstrated
by measuring changes in performance (Argote and Ingram, 2000). Organizational knowledge
can be observed through changes in the knowledge or performance of the recipient of the unit.
It should always be noted that transferring this organizational knowledge is not an easy task.
Knowledge creation - definition and meaning (2019) Market Business News. Available at:
https://marketbusinessnews.com/financial-glossary/knowledge-creation/ (Accessed: October
24, 2022).
6. Complete the following table regarding quality management and continuous improvement
theories.
List one quality Summarise the theory, including key concepts

management and one
continuous improvement
theory
Total Quality Management Total Quality Management (TQM) is an approach that seeks
to improve quality and performance which will meet or
exceed customer expectations. The approach focuses on
achieving this through integrating all quality-related functions
and processes throughout a business. TQM focusses on the
overall quality measures used by a company including
managing quality design and development, quality control
and maintenance, quality improvement, and quality
assurance.
Six Sigma One of the continuous improvement theory is Six Sigma. Six
Sigma's primary goal is to achieve consistent and reliable
results. It is mainly aimed at improving the quality of the
result or the outcome of the process. It is a methodology that
provides organizations with the tools to improve their skills in
managing their business. With this increased performance
and decreased process variation, it is possible to reduce the
number of defects, improve employee morale, and improve
the quality of products or services, all of which contribute to a
higher level of profitability.
7. Discuss three concepts associated with risk management. As part of your answer, provide an
example of how each concept may relate to organisational learning.
Risk management is a structured approach to dealing with uncertainty and reducing the
impact of risk. Risk recognition and management is a crucial part of the role of the board of
directors and management. Supervision of risk management is the responsibility of the board.
It must therefore regularly review and approve risk management policies and frameworks. In

2023
this way, the board decides the nature and extent of the risks it is willing to take to achieve the
objectives. It includes actions taken to:
I. Identifying existing risks
Risk identification is primarily brainstorming. An organisation brings its employees together so

that they can view all the different sources of risk. The next step is to prioritize all identified
risks. Because not all existing risks can be diminished, prioritization ensures that risks that can
significantly affect a business are addressed with greater urgency.
II. Access the risks
In many cases, problem solving involves identifying the problem and then finding an
appropriate solution. However, before determining the best way to manage the risk, an
organisation must locate the source of the risk by asking the question: "What caused such a
risk and how could it affect the organisation?"
III. Develop preventive mechanisms for identified risks
Here, ideas that have proven useful for risk reduction are developed into a series of tasks and
then into contingency plans that can be used in the future. If risks arise, the plans can be
implemented. Organisation can take identified risks to prevent it to happen on future.
8. Explain how to conduct a gap analysis of an organisational system.
Gap analysis measures actual results against expected results to identify sub-optimal or missing
strategies, processes, technologies or skills. Some of the ways an organisation can conduct gap
analysis are as follow;
i. Personal Conversation
To identify the gap in organisational system, having personal conversation would help analyse
the current state of an employee and the future state you want your employee to be. For
example, you might want to know why your employees is not meeting its sales target. The
objective is to identify the causes that have contributed to the non-achievement of the
objectives and to make recommendations to eliminate the causes. It helps to analyse the gap
and identify the objectives and ways to achieve it.
ii. Group Meetings
Another great way to conduct gap analysis is group meetings where you can know the group
gap, ideas and opinions. If they require training and future support to reduce the gap. How the
employee of the organisation will achieve to eliminate the gap? Necessary training or new skills
could help the employee to reach the target get organisation has set to achieve in future,
establishing future state will help to analyse what the current employee are lacking and what to
look for in new employee.

2023
iii. SWOT
SWOT stands for Strengths, Weaknesses, Opportunities and Threats and therefore a SWOT
analysis is a technique to assess these four aspects of your business. SWOT analysis is a tool
that can be used to analyse what your business is doing best right now and develop a winning
strategy for the future. SWOT can also uncover areas of the business that are holding you back
or that your competitors could take advantage of if you don't protect yourself. Thus, some of
these factors will be within your control and some will not. Either way, the most sensible action
you can take becomes clearer when you have discovered, recorded and analysed as many
factors as possible.
iv. KPI
For example, this may include reviewing documentation, measuring key performance indicators
(KPIs) or other metrics of success, conducting stakeholder interviews, brainstorming, and
observing project activities. project. Once a business compares its goals to its current state, it
can create a comprehensive plan. Choose only the KPIs you compared today so you can
easily measure the gaps you need to fill. Try a mix of early and late KPIs to deliver a full set of
actions for each of your focus areas.
v. Project review.
Conducting project review will help analyse the gap analysis of individual employee as well as
group. It will help identify where the current employee skills stand and where you want your
employee to be. Knowing the strength and weakness of employee will create better
understanding. In organisation, the present state of the system and process and the ideal or
future state where the organisation should be. For instance, the number of customers per day
is 300 but the ideal number is 400. He organisation can apply different tactics to increase the
number and reduce the gap.

2023
Assessment Task 1: Checklist
Student’s name: Swastika Awal
Did the student provide a Completed

sufficient and clear answer successfully? Comments
that addresses the
suggested answer for the Yes No
following?
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Question 8
Task outcome:  Satisfactory  Not satisfactory
Assessor signature:
Assessor name:
Date:

2023
ASSESSMENT 2 – PRACTICAL ACTIVITY
Skills Assessment (Project tasks)
ASSESSOR NOTE
These instructions must be followed when assessing the student in this unit.
The checklist on the following page is to be completed for each student.
Please refer to separate mapping document for specific details relating to
alignment of this task to the unit requirements.
This competency is to be assessed using standard and authorised work practices,

safety requirements and environmental constraints.
Assessment of essential underpinning knowledge will usually be conducted in an off-

site context.
Assessment is to comply with relevant regulatory or Australian standards' requirements.
Resource implications for assessment include:
• an induction procedure and requirement
• realistic tasks or simulated tasks covering the mandatory task requirements
• relevant specifications and work instructions
• tools and equipment appropriate to applying safe work practices
• support materials appropriate to activity
• workplace instructions relating to safe work practices and addressing hazards and
emergencies
• material safety data sheets
• research resources, including industry related systems information.
Reasonable adjustments for people with disabilities must be made to assessment

processes where required. This could include access to modified equipment and other
physical resources, and the provision of appropriate assessment support.

2023
Assessment Task 2: Project Portfolio
Information for students

In this task, you are required to demonstrate your skills and knowledge by working through a
number of activities and completing and submitting a project portfolio.
You will need access to:
 a suitable place to complete activities that replicates a business environment including a

meeting space and computer and internet access
 your learning resources and other information for reference
 BSBSTR601 Simulation Pack or access to relevant team members, information and workplace
documentation and resources at your organisation
 Project Portfolio template.
Ensure that you:
 review the advice to students regarding responding to written tasks in the Business Works
Student User Guide
 comply with the due date for assessment which your assessor will provide
 adhere with your RTO’s submission guidelines
 answer all questions completely and correctly
 submit work which is original and, where necessary, properly referenced
 submit a completed cover sheet with your work
 avoid sharing your answers with other students.
Assessment information
i
Information about how you should complete this assessment can be found in Appendix
A of the Business Works Student User Guide. Refer to the appendix for information on:
 where this task should be completed
 how your assessment should be submitted.
Note: You must complete and submit an assessment cover sheet with your work. A
template is provided in Appendix B of the Student User Guide. However, if your RTO
has provided you with an assessment cover sheet, please ensure that you use that.

2023
Activities
Complete the following activities:
1. Carefully read the following:
This project requires you to complete a range of activities relevant to managing

continuous improvement and innovation for one organisation as a whole or one
work area within an organisation (e.g., a department of a company).
To do this, you will assume a managerial role and communicate with team
members and other stakeholders to improve the work environment for the
organisation or work area.
Vocational education and training is all about gaining and developing practical skills
that are industry relevant and that can help you to succeed in your chosen career.
For this reason, we are giving you the choice to base this project on your own
business, one you work in or a familiar with, or you can use the case study
provided. This will mean that you are applying your knowledge and skills in a
relevant, practical and meaningful way to your own situation!
If you are using the case study business, all relevant information for you to
complete this assessment can be found in the Simulation Pack.
If you are basing this assessment on your own choice of business or work area,
make sure you have access to all required information (read through the
requirements in the green boxes below for further information). Speak to your
assessor to get approval if you want to base this on your own business.
You will be collecting evidence for this unit in a Project Portfolio. The steps you
need to take are outlined below. Before you begin, complete page 4 of your Project
Portfolio.
Start working on Section 1 of your Project Portfolio. Steps 2 to 4 form part of Section 1.
If you are basing this assessment on your own business, you need access to at least two
written documents that provide information about your organisation or work area’s:
 processes and systems (including supply chain)
 plans
 continuous improvement systems, processes, and innovations
 performance (including mathematical information).
You also access to policies and procedures that outline processes for approvals, project
management, change management and knowledge management.
Examples of such documents include:
 Strategic Plan
 Operational Plan

2023
 Project documentation (such as the Schedule, Project Briefing and Status Reports)
 Continuous improvement Policies and Procedures
 Project Management Policy and Procedures
 Change Management Policy and Procedures
 Communication Policy and Procedures
 Performance Reports.
Examples of mathematical information include:
 budgets (forecast and actual)
 number of customer complaints
 amount of rework required.
2. Review organisational documentation.
Read at least two written documents that provide information about the business,
its operations/processes, plans and continuous improvement systems, processes,
and innovations.
Also read at least one policy and procedures that outlines the organisation’s
processes for approvals, project management, change management and
knowledge management.
Make notes (for example using comments, highlighting or other review tools) on the
i
documents as you read them to help you interpret the information.
If you are basing this assessment on the case study, read the following documents:
 Case study details
 Strategic and Operational plans
 Organisational structure
 Internal and External Communication Policies and Procedures.
Summarise the information you’ve collected. Your summary should address:
 key objectives
 key decision makers
 key operational processes
 supply chain details
 strategies to monitor and evaluate performance and sustainability of key

systems and processes
 current continuous improvement systems, processes, and innovations in place
 requirements for approvals, change management, project management and

knowledge management.

2023
3. Summarise and analyse current performance for the organisation or work area to identify
required changes or improvement opportunities.
Collect information about your business’ performance. Do this by reading available

performance reports (that include mathematical information).
If you are using the case study, review the 2021. Performance Overview in the
i
Simulation Pack.
Based on the information you’ve collected, summarise and analyse the current
performance of your chosen organisation or work area to identify changes or
improvement opportunities. To do this first:
 summarise current performance (including mathematical information) and

identify variances from existing plans
 identify and analyse trends and opportunities relevant to the organisation or

work area
 analyse supply chains and the operational and service systems using Gap
analysis and determine the cost-benefits of the changes, improvements, or
new ideas.
As you analyse the way things are currently done, remember that this is just one
i
way of doing things and improvement or changes are possible.
In your gap analysis, identify areas needing improvement or changes and suggest
new ideas that may be trialled and tested to meet the need or opportunity.
After your analysis, set objectives for continuous improvement and the way things
work.
4. Identify team members and seek their input.
Identify team members who can assist with continuous improvement and
innovation in the workplace.
Describe best practice ways of working that teams can use to achieve continuous
improvement and to be innovative.
Also identify learning opportunities for the team to improve their skills and
knowledge in relation to continuous improvement and innovation.
Draft an email to these team members seeking their input for continuous
improvement in the organisation or work area. In your email:
 promote the value of creativity, innovation, and sustainability
 communicate the objectives for improving the way things work, expectations
and desired outcomes
 summarise the changes, improvements, and new ideas you’ve already

identified including the cost-benefit of the new ideas.
 seek their advice to identify further opportunities for improvement and to select

2023
three changes/improvements/new ideas to focus on.
i The text of the email should be in grammatically correct English, written in an

appropriate (polite, business-like) style.
If you are using the case study, your assessor will respond to your email in the role
of a team member when they mark Section 1 of your Project Portfolio.
If you are using their own business, the actual team members may provide the
advice, or you may ask your assessor to play the role of the team members and
provide feedback instead.
Make sure you have answered all questions in Section 1.

You are required to attach certain documents as part of your evidence – review the
documents you need to attach as outlined in Section 1 of the Project Portfolio.
Submit Section 1 to your assessor.
Start working on Section 2 of your Project Portfolio. Steps 5 to 8 form part of Section 2.
If you are using your own business, you need access to team members willing to participate
in mentoring and coaching. These people must agree to their participation being viewed by
your assessor.
5. Plan for continuous improvement.
Select three changes, opportunities, or new ideas to focus on as part of your

continuous improvement efforts. Justify your choice, considering the need,
resources available, and constraints.
Develop a Continuous Improvement Plan. Your plan must include:
 Key Performance Indicators (KPIs) associated with the continuous

improvement objectives
 continuous improvement systems and processes
 key actions, resources, constraints, and timeframes to achieve continuous

improvement and innovation as you implement your chosen
changes/opportunities/new ideas
 impact the changes/opportunities/new ideas will have on the organisation, the

consequences for people and the related transition plans
 risk management to determine risks, outcomes, risk responses and

contingencies for the Continuous Improvement Plan (including non-
performance of staff members)
 communication plans to manage changes associated with continuous

improvement efforts
 rewards for staff who have succeeded in their continuous improvement efforts
 the knowledge management system to be used to capture continuous

improvement plans and learnings.

2023
Use the work you’ve done in Section 1 of the Project Portfolio as well as the input
i
provided by your assessor (in the role of a team member) to select and plan for
continuous improvement.
Use the template provided in the Project Portfolio.
Your communication plans should adhere to any project management and change
management requirements of your organisation. Remember to consider the
audience when determining what to communicate, how to communicate, when to
communicate and why the communication is necessary.
6. Coach and mentor team in continuous improvement and innovation.
Prepare to coach and mentor the continuous improvement team members

(identified in step 4). To do this:
 Read through the steps below and make notes to use at the meeting.
 Explain how you will facilitate effective group interaction and build rapport with
the team members to ensure positive working relationships.
 Set questions to ask team members about their vision for continuous
improvement to guide your mentoring (e.g., how can you contribute to the
continuous improvement team, what benefits do you want to obtain from being
part of this team? etc).
 Prepare to coach team on how to be innovative (e.g., select a creative thinking

tool such as opposite thinking that you will introduce them to and
demonstrate).
 Create a questionnaire that you will use to seek feedback from team members
on how you ran the meeting.
Keep in mind that coaching focuses on the present immediate situation whereas
i
mentoring focus on the future.
Meet with at least two team members (identified in Section 1 of your Project
Portfolio). At your meeting:
 Thank the team members for their contribution to further identify improvement
opportunities and agree with their input (your assessor provided this input in
the role of the team members when marking Section 1 of your Project
Portfolio).
 Collaborate to create a list of why creativity and innovation are vital for your
organisation (or work area) to achieve its outcomes.
 Share the best practices (you identified in step 4) on continuous improvement

and innovation with the team.
 Mentor the team members on how they could in the future work to contribute
towards continuous improvement.
 Coach team members on how they can be innovative (e.g., by demonstrating

how to use a creative thinking technique such as opposite thinking).

2023
 Briefly discuss your Continuous Improvement Plan and confirm with the team
members that objectives, timeframes, measures, and communication plans
are in place so that the plan can be implemented.
 Seek feedback (using the questionnaire you created) from each team member
on your own performance at the meeting.
As you conduct the meeting, make sure you facilitate effective group interaction
i
and build rapport to establish positive working relationships
This meeting may take place with actual people who work for/are associated with
your chosen business. Alternatively, classmates or your assessor may play the role
of the team members. This can either be viewed in person or online by your
assessor or you may like to video record the session for your assessor to watch
later. Your assessor can provide you with more details at this step. Make sure you
follow the instructions above and take no longer than 20 minutes. If this session is
not viewed in person by your assessor, you will attach proof of the meeting to
Section 2 of your Project Portfolio.
7. Implement changes or improvements.
Choose one change/opportunity/new idea (described in your Continuous

Improvement Plan) and implement it.
Examples of implemented changes or improvements could be:

i
 Develop a flowchart to show a new, more efficient process and place it in a
convenient location (e.g., flow chart showing how to decide whether to print a
document should be placed at the printer).
 Place a compost bin in the staff kitchen to improve sustainability.
 Download the software for a new information management system and set up
the folder structure.
If you are using the case study, you are required to notify sales staff of the new
cloud-based product and schedule their training in its use. This should be done by
creating a bulletin notice for the staff bulletin and creating a calendar invite for staff
to attend training.

2023
8. Address impact of change.
Choose one transition plan (described in your Continuous Improvement Plan) that
addresses the impact of the change or improvement and implement it.
Examples of implemented actions or transition plans include:

i
 create a social media post to communicate the change to customers
 send an email to staff notifying them of the change
 create and distribute a fact sheet about the changes or improvements.
If you are using the case study, you are required to create a social media post
advertising the new product to existing and new customers.
Make sure you have answered all questions in Section 2.

You are required to attach certain documents as part of your evidence – review the
documents you need to attach as outlined in Section 2 of the Project Portfolio.
Submit Section 2 to your assessor.
Start working on Section 3 of your Project Portfolio. Steps 9 and 10 form part of Section 3.
Assume that your Continuous Improvement Plan has been approved and a period has
passed. Your assessor will have provided you with simulated performance outcomes
relevant to your unique Continuous Improvement Plan to use to complete the next steps.
9. Monitor and evaluate continuous improvement and innovation.
Provide an evaluation of how well you believe continuous improvement systems

are working.
i Base your evaluation on the Staff Survey comments (in the Simulation Pack).
Recognise successes by drafting an email to the project team congratulating them

on their successes.
i The text of the email should be in grammatically correct English, written in an

appropriate (polite, business-like) style.
Describe at least one non-performance failure and analyse the causes. Implement
your contingency plan for non-performance (as described in your Continuous
Improvement Plan).
If you are using the case study, you are required to develop a fact sheet that can be
i
used as training to help the relevant staff members perform as required. The
contents of your fact sheet will depend on the unique non-performance details
supplied by your assessor. For example, if the non-performance is related to using
automated systems, the fact sheet could explain the benefits of process
automation.

2023
Identify and manage new challenges and opportunities by updating your
Continuous Improvement Plan. As you update the plan, confirm that learning from
activities are captured and managed using the relevant knowledge management
systems.
10. Submit your completed Project Portfolio.
Make sure you have completed all sections of your Project Portfolio, answered all
questions, provided enough detail as indicated and proofread for spelling and
grammar as necessary.
Submit to your assessor for marking.

2023
Project Portfolio
Student name: Swastika Awal
Assessor:
Date: 26/10/2022
Business (and work area if Worlducation

relevant) this assessment is
based on:
Role: General Manager

What role will you assume? As a General Manager of Worlducation my role will be
How does this role
contribute to the broader
work goals?
Section 1: Continuous improvement and innovation

review
Summarise the business or work area.
Review organisational I read Simulation pack given in the case study.

documentation
The policies and procedures will guide your approach to
Which documents did you approvals, project management and change management are
read? Internal and External Communication policy contained in
Simulation pack.
Which policies and
procedures will guide your
approach to approvals,
project management and
change management?
Attach the documents Above given file is the Document attached. Policy and procedure
(including the notes you has been attached to the simulation pack.
made as you read them) to
this section of the portfolio.
Attach the policy and
procedures (including the
notes you made as you read
them) to this section of the
portfolio.
Products and services Worlducation offers wide range of products and services. They
produce tablets for primary school students. They not only focus

2023
What are the products and on hardware, but they also have a competitive team that creates
services? software, content and activities to better engage and educate
students. Worlducation aims to change the way children learn in
school by implementing artificial intelligence technology that can
monitor each child's progress and adapt to their needs as they
learn, creating an optimal learning experience. So far,
Worlducation only sells its tablet computers on a business-to-
business (B2B) basis, recognizing that their content and
materials are most effective when used by an entire class and a
teacher coordinating the activities. Additionally, it helped the
sales team focus on bigger sales and minimized the potential
number of issues that could arise with individual customers. In
the long term, however, a business-to-consumer (B2C) strategy
should also be pursued.
Objectives The key objective of Worlducation is to transform the way

children learn in school by implementing artificial intelligence
List the key business
technology that can track each child's progress and adapt to their
objectives.
needs as they learn to deliver an experience optimal learning.
They envision a world where every child learns to read and write
- a world without illiteracy. With this vision in mind, for every
class that purchases their products, they are donating and
educating a class somewhere in the world that cannot afford the
same technology.
Key decision makers The key decision makers is General Manger. I will seek advice
from CEO if I needed some assistance.
Who are the key decision
makers (stakeholders to
whom you will report or seek
advice from)?

2023
Operational processes Worlducation has a complex supply chain that begins when a
sale is made, usually through a sales representative or an online
Describe key operational
inquiry processed by the sales team. Sales are recorded in an
processes.
internal enterprise resource planning (ERP) system, which
notifies the operations team that an order needs to be delivered.
The operations team reviews the customer order and authorizes
the delivery of a manufacturing request to the Hong Kong
factory. The Hong Kong manufacturing team takes note of order
specifications and delivery details and incorporates them into
their production schedule. The order is placed and the operations
team arranges transportation and shipping directly to the
customer.
Supply chain Innovative business models have been developed by

management and include establishing a second manufacturing
Summarise the supply chain
facility (estimated cost $5M), outsourcing manufacturing to a
associated with the work
third party ($200 loss margin per unit sold or $2M per year
area or organisation.
assuming 10,000 units sold), development of a cloud-based
solution where customers can access the software remotely
using their own devices (estimated cost $2M), purchase of off-
the-shelf tablets ($300 lost margin per unit sold or $3 million per
year) or repurposing used tablets ($100 per year). unit sold or $1
million).
Performance Improvement Key strategies for monitoring and evaluating the performance
and sustainability of key systems and processes include team
Which strategies are
meetings, employee surveys, and the use of financial reports and
currently used to monitor
regular performance reports. Add more in
and evaluate the
performance and
sustainability of key systems
and processes?
Discuss the current
systems, processes, and
innovations being used.

2023
Policies and procedures The organisational requirements for approvals, change
management, project management and knowledge management
What are the organisational
are Internal and External Communication Policy and procedures.
requirements for approvals,
change management,
project management and
knowledge management?
Summarise and analyse current performance to identify changes and improvement opportunities.
Analyse performance to The performance outcomes of Worlducation kicked off 2021 with
identify performance a huge sale to a school in Portugal. Although a good start, the
variances from existing context for the rest of the quarter was very uncertain due to
plans. COVID-19. The drastic increase in the number of customers is
good news for sales, but we do not have a dedicated customer
Summarise the performance
relationship management (CRM) system. It is estimated that the
outcomes of your business.
ongoing cost of such a system will be approximately $12.50 per
Include mathematical user and will help maintain and personalize customer service.
information in your summary
2020 2021
How has the current
Number of customers 186 254
business performance varied
from what was planned? The current business performance varied from what was
planned is the pandemic brought hundreds of new leads,
Attach documents showing
resulting in unprecedented growth accompanied by dozens of
performance information as
operational and production issues. The Hong Kong factory was
evidence that you’ve
closed for a month due to government supply restrictions, and
collected the information.
the sales team was inundated with sales calls via ZOOM
(instead of meeting customers in person). The distributor asked
to create an animated video to demonstrate the product instead
of having to try it out via zoom. The sales manager estimated
that such a video would cost $5,000 to develop (and can be
developed in-house). The technical support team had to
constantly re-adapt the software to enable remote learning in
many schools. Simple software bugs due to the different
requirements of different schools have led to several customer
complaints.

2023
Identify and analyse trends The current trends and opportunities associated with industry in
and opportunities which the business operates is AI
Describe current trends and The trend in consumer spending declined during the pandemic,
opportunities associated with but this had no impact on the ICT industry as more people
industry in which the working from home increased consumer demand for tablets.
business operates.
Analyse how these trends
and opportunities impact the
business.
Analyse supply chains and operational and service systems to identify changes, improvements,
and new ideas
Perform Gap Analysis using the table provided to describe the current state of the supply chain
and operational and service systems and the desired state of the supply chain and operational
and service systems. Also identify solutions to bridge any gaps and the cost-benefit calculations
of the solutions. You may identify more than one solution per issue
Current state Future state Gap solutions Cost-benefit

(at least four issues) (these may be changes,
improvement
opportunities and new
ideas)

2023
Set objectives
What are the objectives for
improving how things work?
What are the continuous
improvement objectives and
desired outcomes?
Identify team members and seek their input.
Identify at least two team

members
Who in the team do you
believe is instrumental to
ensuring continuous
improvement and
innovation? Give your
rationale for this.
Best practices
Describe best practice ways
of working that teams can
use to achieve continuous
improvement and to be
innovative. Give at least four
examples.

2023
Learning opportunities
What learning opportunities
exist for the team to improve
their skills and knowledge in
relation to continuous
improvement and
innovation? Describe at least
two.
Seek input
Insert a screen shot of your
email to the team members
or attach it as evidence to
this section of your portfolio.
Attach: Documents and policies and procedures ☐
Performance information ☐
Email to team members (if relevant) ☐

2023
Section 2: Plan and implement continuous
improvement and innovation
Select most appropriate changes/opportunities/new ideas.
Select most appropriate After conducting a Gap analysis and cost-benefit calculations,
changes, opportunities, and three changes, opportunities, and new ideas have been identified
new ideas. as the most suitable for continuous improvement efforts. Firstly,
Choose three solutions adopting a personalized learning approach through data-driven
(from your Gap analysis) to tools will enable teachers to customize their instruction according
focus on as part of your to each student's needs, which can lead to higher engagement,
continuous improvement academic performance, and better outcomes. This change
efforts. requires resources such as data analysis tools, teacher training,
and support for effective implementation.
These should be the best
solutions based on your Gap Secondly, providing professional development opportunities for
analysis and cost-benefit teachers to improve their instructional practices can result in
calculations. increased teacher effectiveness, improved student outcomes,
Say why you chose these and higher retention rates. The resources needed for this change
three issues (consider include funding for professional development, time for training
resources, needs and sessions, and ongoing support to ensure effective
constraints) implementation.
Lastly, investing in technology infrastructure to support digital
learning tools and resources can broaden students' access to
online resources, apps, and digital simulations. While this change
requires significant financial investment, the benefits include
increased student engagement, better academic performance,
and preparation for the digital workforce.
These three solutions were selected based on their potential to
enhance student learning and feasibility given the available
resources and constraints. The implementation of a personalized
learning approach and professional development opportunities
for teachers can improve outcomes and effectiveness without
significant financial investment. Investing in technology
infrastructure is an important change, although it requires more
funding. Overall, these three solutions present the most
promising opportunities for continuous improvement efforts at the

2023
school.
Plan for continuous improvement.
Continuous Improvement Plan for [Add business name]

Objectives and KPIs of the plan
Increase student enrolment by 10% in the next academic year.
Improve student satisfaction by 15% in the next academic year.
Increase revenue by 20% in the next fiscal year.
KPIs:
Number of new students enrolled.
Student satisfaction survey results.
Total revenue generated.
Continuous improvement systems and processes

Create a continuous improvement team that will be in charge of identifying opportunities for
improvement, implementing changes, and monitoring progress.
Create a mechanism for students to provide feedback, such as suggestions and complaints.
Create a data-driven strategy for identifying areas for improvement in teaching and student
services.
Key actions, resources, constraints and timeframes

Describe key actions, resources, constraints, and timeframes to achieve continuous
improvement and innovation as you implement your chosen changes/opportunities/new ideas.
List at least six key actions.
Change/Opportunity/ Key actions related Resources Constraints Time

new idea to continuous frames
improvement and
innovation (e.g.,
brainstorming,
implementing
improvement
registers, updating
policies etc.)
1. Develop a referral
program with
incentives for current
students to refer new Marketing Budget and
students. 2. Market budget and time
Implementing a referral the referral program staff, constraints for
program to attract new through social media incentives for marketing 2
students and email marketing. referrals. efforts. months

2023
1. Analyze student
feedback to identify
areas for
improvement. 2.
Develop a plan to
address the identified
areas, such as
improving counseling Data analysis
services or expanding tools, staff for
extracurricular counseling Budget
activities. 3. and constraints for
Implement changes extracurricula implementing 6
Improving student services and monitor progress. r activities. changes. months
1. Research and
implement new
payment options, such
as payment plans or
installment options.
Financial
2.Communicate the software for
new payment options payment Budget and
to students and market processing, time
them through social marketing constraints for
Offering flexible payment media and email budget and implementing 3
options marketing. staff. changes. months
1. Use data analysis

tools to identify areas
for improvement in
teaching quality.
2. Provide training
and development
opportunities for Budget and
teachers to improve time
their teaching skills. 3. Data analysis constraints for
Monitor progress and tools, staff for providing
adjust strategies as training and training 12
Improving teaching quality necessary. development. opportunities. months
Expanding course offerings 1. Conduct market Market Budget and 8

research to identify research, staff time months
high-demand courses. for developing constraints for
2. Develop new and teaching developing
courses or expand new courses, and marketing
existing ones based on marketing new courses.
the research findings. budget and
3. Market the new

2023
course offerings
through social media
and email marketing. staff.
1. Conduct a
technology needs
assessment to identify
Technology
areas for
needs
improvement.
assessment Budget and
2. Develop a plan to tools, budget time
upgrade technology for hardware constraints for
infrastructure, such as and software purchasing
purchasing new upgrades, and
hardware or software. staff for implementing
Upgrading technology 3. Implement changes implementing new 12
infrastructure and monitor progress. changes. technology. months
Impact
Describe the impact the changes/opportunities/new ideas and associated actions will have on
the organisation or work area as well as the consequences for people.
Describe actions or transition plans (following the policies and procedures that address
approvals, project management and change management) that to will be taken to manage this.
Change/Opportunity/new Impact of change and Transition Plan

idea and associated actions consequences for people
Increased enrollment and

revenue; Incentivized students Establish clear referral criteria
may refer unqualified and review process; Train
Implementing a referral candidates; Potential overload admissions staff to manage
program to attract new students for admissions staff increased workload
Analyze costs and benefits of

Enhanced student satisfaction proposed changes; Develop a
and retention; May require phased implementation plan
additional resources and staff with clear communication to
Improving student services hiring students and staff
Improved cash flow and

student satisfaction; May Analyze costs and benefits of
impact finance operations and proposed changes; Develop a
Offering flexible payment require financial software plan for upgrading financial
options upgrade software and operations
Improving teaching quality Enhanced student outcomes Evaluate existing training

and satisfaction; May require resources and identify gaps;
additional resources for Develop a plan for providing
teacher training and necessary resources; Monitor

2023
progress and adjust strategies
development as necessary
Analyze market demand and

Increased enrollment and resource availability; Develop
revenue; May require a phased implementation plan
additional resources and staff with clear communication to
Expanding course offerings hiring students and staff
Analyze costs and benefits of

proposed changes; Develop a
plan for purchasing and
Improved efficiency and implementing new
productivity; May require technology; Provide staff
Upgrading technology significant financial training and support for
infrastructure investment and staff training technology transition
Risk management
Plan to manage the risks associated with your Continuous Improvement plan. One risk should
be Non-performance of staff members.
Risk Potential outcomes Risk response Contingency plan

What are the risks List potential Will you avoid, How will you manage
associated with your outcomes for each retain, share, the risk (e.g., progress
plan? List at least risk. transfer or reduce reports, training,
three. the risk? insurance etc.)?
Reduce risk
through training Regular performance
Failure to meet targets and development, evaluations, provision of
and goals, delays in set clear training and support,
project completion, expectations and consequences for
Non-performance of decreased morale consequences for persistent non-
staff members among team members non-performance performance
Inability to implement Transfer risk

planned through seeking
improvements, additional funding Reassessment of budget,
cancellation of sources, seeking alternative
projects, loss of prioritizing funding sources,
Insufficient funding opportunities spending prioritizing spending
Inadequate stakeholder Lack of support or Reduce risk Regular stakeholder

engagement interest, misaligned through regular engagement and
expectations, failure to communication, communication,
achieve objectives involvement of adjustment of plans
stakeholders in based on stakeholder
planning and feedback

2023
decision-making
Communication
Describe how the continuous improvement and innovation plan will be communicated.
What must be Who will you How will you When must the Further
communicated? communicate communicate? communication comments
to? take place?
Encourage
Prior to plan feedback and
Continuous Email, in-person implementation questions to
Improvement and All staff meetings, and periodically ensure
Innovation Plan members presentations thereafter understanding
Ensure clear
communication
Changes to Prior to changes of what
processes or Relevant staff Email, in-person being changes will be
procedures members meetings implemented made and why
Provide clear
and actionable
Results of Staff members feedback to
performance receiving In-person After evaluations encourage
evaluations evaluations meetings are completed improvement
Rewards
Rewards that will be established to acknowledge staff achievements related to continuous
improvement, innovation, and learning might consist of various types of incentives. These could
include financial rewards, like bonuses, profit-sharing, and salary increases for exceptional
performance. Staff may also receive recognition awards, such as plaques, certificates, or
trophies for outstanding accomplishments. Professional development opportunities, like
attending training programs, seminars, and conferences, might also be offered. Opportunities for
career progression, such as job rotations and promotions, could also be considered. Additionally,
non-financial incentives such as additional vacation days, flexible work arrangements, and
employee perks like gym memberships or wellness programs could be included. It is crucial that
the rewards offered are fair and transparent to all staff members and align with the goals and
objectives of the organization. It is also essential to communicate the rewards program clearly
and consistently, so that staff are aware of the criteria for earning rewards and the process for
receiving them.
Knowledge management
Select which of the activities below are used as part of your organisation’s knowledge
management system to capture learnings from continuous improvement and innovation.
Knowledge management item Have learnings

been captured
and managed?

2023
Knowledge sharing: ensuring there is a culture of sharing information in Yes
the company
Sharing of best practices Yes
Establishing communities of practice within the organisation, as well as Yes

with other organisations
Cross-project learning, as well as post project reviews Yes
Mentoring and coaching Yes
Performance management Yes
Social software such as blogs, wikis Yes
Shared documents in cloud-based storage Yes

2023
Mentor and coach team members.
Plan for team meeting

Who will you meet with? All team members
How will you facilitate Encourage active participation and collaboration
effective group interaction?
How will you build rapport
By listening actively, giving constructive feedback, and showing
with the team members to
appreciation
ensure positive working
relationships?
What questions will you ask
about team member’s vision What do you think we can improve? How can we innovate?
for continuous improvement
and innovation to guide you
mentoring?
How will you coach the team By providing resources, guidance, and support in the
in innovation? implementation of new ideas
Attach your questionnaire to Questionnaire

this section of the portfolio. 1.What are your opinions on the current state of continuous
improvement and innovation in our organization?
2.Could you provide any suggestions or ideas to enhance our
processes and products/services?
3.What obstacles or difficulties do you perceive that could
impede our progress in continuous improvement and innovation?
4.How can we encourage a culture of innovation in the team and
the organization?
5.What abilities or knowledge do you believe you should acquire
to contribute to the ongoing continuous improvement and
innovation efforts?
6.In what ways can I assist you, as your mentor, in achieving
your continuous improvement and innovation objectives?
7.Do you require any additional resources or support to perform
effectively in your position?

2023
Team meeting
What feedback did you Positive feedback on effective communication, engagement, and
receive about how you ran decision-making was received.
the meeting?
How can you improve your
By identifying areas for improvement, acting on feedback, and
performance in future?
constantly striving to improve my leadership and communication
If not viewed in person by abilities
your assessor, attach proof
of the team meeting to this
section of your portfolio. meeting's agenda
Date: March 15, 2023
Time: 2:00 PM AEDT
Location: Meeting Hall
Welcome and Introductions

Introduce any new team members or guests
Review the purpose and objectives of the meeting
Review of Previous Actions and Progress

Review action items from the last meeting
Discuss any progress made towards achieving goals
Discussion of Continuous Improvement and Innovation Efforts

Share any recent successes or challenges related to continuous
Brainstorm ideas for improving processes and products/services
Identify any barriers or challenges that may prevent progress
Promoting a Culture of Innovation

Discuss ways to promote a culture of innovation within the team
and organization
Share any best practices or successful initiatives
Developing Skills and Knowledge

Discuss skills or knowledge needed to contribute to continuous
improvement and innovation efforts
Identify any training or development opportunities

2023
Support and Resources
Share any additional resources or support needed to be
successful in the role
Identify any concerns or issues that require further attention
Next Steps and Action Items

Identify next steps and action items for achieving goals
Assign responsibility and due dates for each action item
Wrap-Up and Adjournment

Summarize key takeaways and action items
Thank the team for their participation and contributions.
Meeting Minutes
Date: March 15, 2023

Time: 2:00 PM
Location: Meeting Hall
Attendees:
John Smith (Chair)
Jane Doe
Michael Lee
Sarah Kim
Agenda Items Discussed:
Welcome and Introductions
John Smith welcomed everyone to the meeting and introduced
Sarah Kim, a new team member. The purpose and objectives of
the meeting were reviewed.
Review of Previous Actions and Progress
The action items from the last meeting were reviewed and
discussed. Michael Lee reported on his progress towards
achieving the goals set in the previous meeting.
Discussion of Continuous Improvement and Innovation Efforts
Jane Doe shared a recent success story related to continuous
improvement and innovation. The team then brainstormed ideas

2023
for improving processes and products/services. Barriers or
challenges that may prevent progress were identified
Promoting a Culture of Innovation
The team discussed ways to promote a culture of innovation
within the team and organization. Sarah Kim shared some best
practices from her previous work experience.
Developing Skills and Knowledge
The team discussed skills or knowledge needed to contribute to
continuous improvement and innovation efforts. Training or
development opportunities were identified.
Support and Resources
Jane Doe requested additional support in the form of a budget for
a new software tool. The team discussed the request and
identified a need for further evaluation.
Next Steps and Action Items
The team identified next steps and action items for achieving
goals. Responsibility and due dates for each action item were
assigned.
Wrap-Up and Adjournment
Key takeaways and action items were summarized. John Smith
thanked the team for their participation and contributions. The
meeting was adjourned.
Action Items:
Michael Lee to finalize the project plan by March 31, 2023.
Jane Doe to research best practices for change management by
March 22, 2023.
Sarah Kim to share her knowledge of Agile methodologies with
the team by April 15, 2023.
John Smith to schedule a budget evaluation meeting by March
29, 2023.
Minutes prepared by: Jane Doe
Approved by: John Smith (Chair)
Implement innovative processes.

2023
Implement continuous
improvement
Which
To collect and evaluate customer feedback, a new feedback
change/opportunity/new idea
system was implemented.
did you implement?
Attach proof to this section of
your portfolio.
Address impact of Analyzed the feedback received and made the necessary
change/opportunity/new idea changes to improve customer satisfaction
How did you address the
impact?
Attach proof to this section of
your portfolio.
Attach: Performance questionnaire ☐
Team meeting (if not already viewed in person by your

☐
assessor)
Proof of implemented change ☐
Proof of how you addressed the impact of change ☐

2023
Section 3: Continuous improvement and
innovation monitoring and evaluation
Monitor and evaluate performance.
Continuous improvement
systems, processes and
innovation evaluation
How well you are the
systems, innovations and
processes are working? The continuous improvement systems, innovations, and
processes at Worlducation have been successful in achieving
the organization's objectives. Worlducation regularly reviews
its processes and implements feedback to improve its
services and operations. Worlducation tracks its progress
through metrics such as customer satisfaction and employee
feedback and has seen positive trends over time.
Recognise successes
What continuous
improvement successes can
be celebrated?
Insert a screen shot of your Worlducation has implemented a new online platform for
email to team members or students to access educational resources and launched new
attach proof of the draft courses based on market demand, which are some of the
email to this section of the
continuous improvement successes celebrated. Worlducation
portfolio.
has also improved its customer service through training and
streamlined processes. The team has successfully identified
and addressed operational inefficiencies, resulting in cost
savings and improved productivity.
Continuous improvement or
innovation failure (non-
performance)
Worlducation experienced a failure in implementing a new
Describe the failure and
analyse the causes.
learning management system that did not meet the needs of
its students and instructors. The system was not user-friendly
Attach proof of implemented and caused confusion and frustration among users. Upon
contingency measures. analysis, the primary causes of the failure were identified as a
lack of stakeholder involvement and inadequate testing.
Worlducation implemented a contingency plan to switch to a
new system that involved stakeholders throughout the
process and conducted extensive testing before
implementation.

2023
New challenges and
opportunities
Adapting to the rapidly changing landscape of remote
What are new challenges
learning and hybrid models is a new challenge at
and opportunities?
Worlducation. Worlducation must continue to innovate and
improve its online learning platform and delivery methods to
meet the evolving needs of its customers. Worlducation also
aims to ensure its operations remain efficient and cost-
effective while scaling its business to meet demand. An
opportunity for Worlducation is expanding its services to new
markets and collaborating with other educational institutions
to offer a wider range of courses and resources to its
customers.
Manage new challenges and opportunities.

Update Continuous Improvement plan to show new challenges or opportunities. Also confirm that
knowledge management systems have been used as planned.
Continuous Improvement Plan for [Add business name]

Objectives and KPIs of the plan
Continuous improvement systems and processes
Key actions, resources, constraints and timeframes

Describe key actions, resources, constraints, and timeframes to achieve continuous
improvement and innovation as you implement your chosen changes/opportunities/new ideas.
List at least six key actions.
Change/Opportunity/ Key actions Resources Constraints Time

new idea related to frames
continuous
improvement
and innovation
(e.g.,
brainstorming,
implementing
improvement
registers, updating
policies etc.)

2023
2023
Impact
Describe the impact the changes/opportunities/new ideas and associated actions will have on
the organisation or work area as well as the consequences for people.
Describe actions or transition plans (following the policies and procedures that address
approvals, project management and change management) that to will be taken to manage this.
Change/Opportunity/new Impact of change and Transition Plan

idea and associated actions consequences for people
Risk management
Plan to manage the risks associated with your Continuous Improvement plan. One risk should
be Non-performance of staff members.
Risk Potential outcomes Risk response Contingency plan

What are the risks List potential Will you avoid, How will you manage
associated with your outcomes for each retain, share, the risk (e.g., progress
plan? List at least risk. transfer or reduce reports, training,
three. the risk? insurance etc.)?
Non-performance of
staff
Communication
Describe how the continuous improvement and innovation plan will be communicated.
What must be Who will you How will you When must the Further

2023
communicated? communicate communicate? communication comments
to? take place?
Rewards
Outline the rewards that will be put in place for staff for achievements in relation to continuous
improvement, innovation, and learning.
Knowledge management
Select which of the activities below tare used as part of your organisation’s knowledge
management system to capture learnings from continuous improvement and innovation.
Knowledge management item Have learnings

been captured
and managed?
Knowledge sharing: ensuring there is a culture of sharing information in

the company
Sharing of best practices

2023
Establishing communities of practice within the organisation, as well as
with other organisations
Cross-project learning, as well as post project reviews
Mentoring and coaching
Performance management
Social software such as blogs, wikis
Shared documents in cloud-based storage
Attach: Email to celebrate successes ☐
Implemented contingency measures ☐

2023
Assessment Task 2: Checklist
Student’s name:
Completed
successfully? Comments
Did the student: Yes No
Review and summarise:
 two written organisational

documents that provide information
about the business, its
operations/processes, plans and
continuous improvement systems,
processes, and innovations
 at least one policy and procedures

that outlines the organisation’s
processes for approvals, project
management, change management
and knowledge management?
Summary includes:
 key objectives
 key decision makers
 key operational processes
 supply chain details
 strategies to monitor and evaluate

performance and sustainability of
key systems and processes
 current continuous improvement

systems, processes, and
innovations in place
 requirements for approvals, change

management, project management
and knowledge management?
Summarise and analyse the current

performance of the organisation or work
area to identify changes or improvement
opportunities, including:
 summarising current performance

(including mathematical
information) and identifying

2023
variances from existing plans
 identifying and analysing trends and

opportunities relevant to the
organisation or work area
 analysing supply chains and the

operational and service systems
using Gap analysis and determining
cost-benefits of options?
Identify team members:
 Identifying team members who can

assist with continuous improvement
and innovation in the workplace
 Describe best practice ways of

working that teams can use to
achieve continuous improvement
and to be innovative
 Identifying learning opportunities for

the team to improve their skills and
knowledge in relation to continuous
improvement and innovation?
Seek team member input by drafting an

email to team members seeking their
input for continuous improvement in the
organisation or work area. The email:
 promotes the value of creativity,

innovation, and sustainability
 communicates the objectives for

improving the way things work,
expectations and desired outcomes
 summarises the changes,

improvements, and new ideas
already identified including the cost-
benefit of the new ideas
 seeks advice to identify further

opportunities for improvement and
to select three
changes/improvements/new ideas
to focus on?
Plan for continuous improvement,

including:
 selecting three changes,

opportunities or new ideas to focus

2023
on as part of the continuous
improvement efforts and justifying
their choice (considering the need,
resources available, and
constraints)
 developing a Continuous
Improvement Plan that include:
o Key Performance Indicators
(KPIs) associated with the
objectives
o continuous improvement
systems and processes
o key actions, resources,
constraints, and timeframes to
achieve continuous
o impact the
changes/opportunities/new
ideas will have on the
organisation, the
consequences for people and
the related transition plans
o risk management to determine
risks, outcomes, risk
responses and contingencies
(including non-performance of
staff members)
o communication plans to
manage changes associated
with continuous improvement
efforts
o rewards for staff who have
succeeded in their continuous
improvement efforts
o the knowledge management
system to be used to capture
continuous improvement plans
and learnings?
Coach and mentor team in continuous

improvement and innovation, including:
 preparing to meet with team by:
o explaining how they will

2023
facilitate effective group
interaction and build rapport
with the team members to
ensure positive working
relationships
o setting questions to ask to

guide mentoring and preparing
to coach team members
o creating a questionnaire to
seek feedback from team
members on how you ran the
meeting
 meeting with at least two team

members to:
o facilitate effective group
interaction and build rapport to
establish positive working
relationships
o thank the team members for
their contribution to further
identify improvement
opportunities and agree with
their input
o collaborate to create a list of
why creativity and innovation
are vital for the organisation (or
work area) to achieve its
outcomes
o share the best practices on
continuous improvement and
innovation
o mentor the team members on
how they could in the future
work to contribute towards
o coach team members on how
they can be innovative
o briefly discuss your Continuous

Improvement Plan and confirm
with the team members that
objectives, timeframes,
measures, and communication
plans are in place so that the

2023
plan can be implemented
o seek feedback (using the
questionnaire you created)
from each team member on
your own performance at the
meeting?
Choose one change/opportunity/new

idea and implement it?
Choose one transition plan that

addresses the impact of a change or
improvement and implement it?
Monitor and evaluate continuous

improvement and innovation by:
 evaluating how well continuous

improvement systems are working
 recognising successes by drafting

an email to the project team
congratulating them on their
successes
 describing at least one non-

performance failure and analysing
the causes
 implementing a contingency plan for

non-performance
 identifying and managing new

challenges and opportunities by
updating the Continuous
Improvement Plan
 confirming that learning from

activities is captured and managed
using the relevant knowledge
management systems?
Task outcome:  Satisfactory  Not satisfactory
Assessor signature:
Assessor name:
Date:

2023

SRJ - 807 - Incomplete - ,,word Count 1330

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

SRJ - 807 - Incomplete - ,,word Count 1330

Uploaded by

Copyright:

Available Formats

BSBSTR601

MANAGE INNOVATION AND CONTINUOUS

ADVANCED DIPLOMA OF LEADERSHIP AND

KINGSTON INSTITUTE OF AUSTRALIA

 BSBSTR601 - Manage innovation and continuous improvement

Unit summary and application

Business Competence – Financial Literacy

There are no recommended pre-requisite units for this unit.

You are going to be assessed for:

 Your ability to apply your learning.

The process we follow is known as competency-based assessment. To achieve competency in this

What if I believe I am already competent before training?

 Ensure that their own qualifications are current.

 Follow the recommendations from moderation and validation meetings.

How can I get resources to prepare for the assessments?

How should I format my assessments?

How long should my answers be?

Type of Answer Answer Guidelines

Short Answer 4 typed lines = 50 words, or

Long Answer 8 typed lines = 100 words, or

Brief Report 500 words = 1 page typed report, or

Mid Report 1,000 words = 2 page typed report

100 lines of handwritten texts = 3 foolscap handwritten pages

Long Report 2,000 words = 4 page typed report

200 lines of handwritten texts = 6 foolscap handwritten pages

How should I reference the sources of information I use in my assessments?

How should I submit the assessments?

What happens after the submission of assessments and in case of no submission?

What if you disagree on the assessment outcome?

Assessment Method Satisfactory(S) Result Not Yet Satisfactory (NYS) Result

Answers address the question Answers do not address the

Attachments if requested are Requested supplementary items

All requirements of the written Response does not address the

Responses must refer to One or more of the requirements

Observation/ All elements, criteria, knowledge Could not demonstrate elements,

Case Study All comprehension questions Lack of demonstrated

Answers address the question Answers do not address the

All tasks have been completed

Attachments if requested are Requested supplementary items

Assessment Cover Sheet

Course code/name: BSB60120 Advanced Diploma of Business

Unit code/name: BSBFIN601 Manage organisational finances

 I am aware of the assessment process.

Student Signature: _______________________ Date: ______________________

Assessment Tasks Assessment Results

Assessment 2: Practical Activity (project portfolio) S NYS

Competent Not yet Competent

□ I want to make an appeal against the overall outcome of the assessments.

Student signature: _____________________ Date: _____________

Assessor’s Signature: __________________ Date: _____________

1. Outline two methods for conducting cost-benefit analysis.

The two methods of conducting cost-benefit analysis are as follow:

i. Net Present Value Model

ii. Benefit Cost Ratio

i. Establish your goals and objectives

ii. Develop a change management strategy

Successfully implementing a new knowledge management solution requires changes in your

iii. Involve leadership

System or Process Explanation

Review Date: October

People and culture An approach which involves everyone - leadership,

Review Date: October

Disruptive Innovation In disruptive innovation theory, an innovation is one that

Student Signature: _ Date:

Student signature: _________ Date: _

Assessor’s Signature: ______ Date: _