Application
This unit of competency describes the skills and knowledge required to determine current and future financial requirements, identify sources of professional assistance, develop strategies for self-promotion, and identify and apply principles of small business management.
The unit applies to individuals who work in racing industry sectors and are preparing for self-management. They take responsibility for their own activities and work collaboratively with others under broad direction.
Licensing, legislative, regulatory or certification requirements apply to this unit. Users are advised to check with the relevant Principal Racing Authority (PRA) for current requirements.
Elements and Performance Criteria
Elements | Performance Criteria |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Apply business planning and financial management skills | 1.1 Identify and apply the principles of and requirements for financial recordkeeping and budgeting 1.2 Identify and use sources of professional advice for investment, insurance, taxation and superannuation 1.3 Research and use basic principles of small business management |
2. Employ marketing techniques | 2.1 Identify and apply responsible and appropriate marketing opportunities within the industry 2.2 Conduct marketing of self and organisation 2.3 Apply business promotion and public relations principles |
3. Investigate career options | 3.1 Explore training and qualifications available for both current role and future career options 3.2 Investigate benefits and challenges of using rider or driver agents |
Foundation Skills
This section describes those language, literacy, numeracy and employment skills that are essential for performance in this unit of competency but are not explicit in the performance criteria.
Skill | Description |
Reading | Research and interpret key information in a range of documents relating to self-management |
Numeracy | Interpret data in financial documents to determine key information, patterns and/or trends |
Learning | Identify sources of advice and options for own career progression and self-management |
Navigate the world of work | Understand the nature and role of employment within the racing industry and associated legal and industry obligations |
Interact with others | Establish connections to assist with promotion and marketing of self |
Get the work done | Organise and sequence activities, adjusting plans and decisions as knowledge develops |
Sectors
Performance services horse (PSH)