PURPOSE OF THE UNIT STANDARD Learners working towards this standard will be learning towards the full qualification, or will be working within a SMME (Small, Medium, Micro Enterprise) environment, specialising in New Venture Ownership and Management, where the acquisition of competence against this standard will add value to one's job. This standard will also add value to entrepreneurs who are seeking to develop their entrepreneurial skills so that they can become more marketable for bigger contracts, including commercial and public sector contracts, for example the Department of Public Works programmes. Learners competent in this unit standard are able to identify the structures within a selected industry or sector, the business principles and processes. The qualifying learner is capable of: Identifying and analysing the value chain within a selected industry or sector Identifying the business principles and processes within a selected sector or industry's environment Demonstrating an understanding of different procurement systems that may apply in specific sector/industry