In economics, a business is a legally recognized organizational entity existing within an economically free country designed to sell goods and/or services to consumers or other businesses, usually in an effort to generate profit.
In predominantly capitalist economies, where most businesses are privately owned, businesses are typically formed to earn profit and grow the personal wealth of their owners. The owners and operators of a business have as one of their main objectives the receipt or generation of a financial return in exchange for their work and their acceptance of risk.
The etymology of “business” relates to the state of being busy either as an individual or society, doing commercially viable and profitable work. ………..However, the exact definition of business, like much else in the philosophy of business, is a matter of debate. Wikipedia
Indeed it is.
If our services are to be truly equitable across, and reflective of, all aspects of employment in Australia we must view ‘business’ in the broadest possible sense. In NSW we plan to target many organisations that have slipped through cracks in the previous Framework; non-profit organisations, volunteer organisations, Land Councils, local government, support organisations, small business, land care and so on.
Projects funded in each state via the Innovations Program in 2008 will be based on a clearly articulated ‘business case’.
So what is a ‘business case’ and what might one look like in an e-learning context?
A business case is the concept of having a non-technical reason for a project or task. The logic of the business case is that any time resources such as money or effort are consumed, they should be in support of the business. An example could be that a software upgrade might improve system performance but the “business case” is that better performance would improve customer satisfaction. Wikipedia
However these business cases will be finally structured RTOs will need to ensure that their proposal has value and will be properly managed, that the organisation/s have the capability to deliver the benefits, that resources are used effectively and appropriately and that the investment is sustainable.
Information on business cased development suggest a range of common elements that would need to be covered:
1. The focus or problem: brief statement
2. Context
3. Background and current processes
4. Deliverables or outcomes
5. Resourcing
6. Critical analysis of alternatives
7. Action plan including timelines and milestones
8. Risk analysis
In NSW we acknowledge that this kind of development may be new to many RTOs. For that reason we will be selecting projects based on the merit of concept rather than the ability to write a business case. Successful projects will be supported to develop their case early in the project and at a planning meeting.
Framework 2008 is a new beast. It’s time to start pondering how you will engage in the new opportunities offered.
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