The external operating environment - Regulatory bodies

SubjectBusiness YearSenior secondary Time90

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Introduction

In this jigsaw activity, students investigate the role of federal regulatory bodies (ASIC, ACCC and the ATO) and how they interact with and affect business operations.

Australian Curriculum or Syllabus

Topics:

  • The external operating environment
  • The role of regulatory bodies
  • How businesses interact with and respond to regulatory bodies
  • Legal requirements for establishing and operating a business

See also:

Teacher resources

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Visualiser

External operating environment

Suggested activity sequence

This sequence is intended as a framework to be modified and adapted by teachers to suit the needs of a class group.

Introduction

  1. Use the visualiser to explain external factors that affect a business’s operating environment (slides 2 and 3).
  2. Explain to students that they will be participating in a jigsaw activity to learn more about the regulatory bodies that businesses interact with and respond to.

Part A: Groups with each member investigating a different regulatory body

  1. Use a grouping strategy to organise students into groups of 3.
  2. Allocate each member of a group one of the following 3 organisations to investigate:
    • Australian Securities and Investments Commission (ASIC)
    • Australian Competition and Consumer Commission (ACCC)
    • Australian Taxation Office (ATO).
  3. Display instructions for the investigation using slide 4 of the visualiser
  4. Individual students investigate answers to the questions for the organisation they have been allocated.

Part B: Groups organised by regulatory body

  1. Each member presents their findings to students representing the same body.
  2. Group members reconcile points of view and synthesise information and create a final report.

Part C: Original groups

  1. Original groups reconvene and listen to presentations from each member. The final presentations provide all group members with an understanding of their own material, as well as the findings that have emerged from regulatory body group discussions.
  2. Students write a summary of the role of each regulatory body in regulating the operations of business and how each body supports businesses.