BUSINESS MANAGEMENT
Unit 1: Planning a Business
Area of Study 2
External environment
Outcome 2
- describe the external environment of a business and explain how the macro and operating factors within it may affect business planning.
Key knowledge
Macro factors affecting business planning
- an overview of key legal and government regulations affecting businesses in the planning stage
Operating factors that affect business planning
Key skills
- research and analyse case studies and current examples of business management applicable to planning a business
- apply business management knowledge to practical and/or simulated business situations
Unit 2: Establishing a Business
Area of Study 1
Legal requirements and financial considerations
Outcome 1
- explain the importance when establishing a business of complying with legal requirements and financial record keeping, and establishing effective policies and procedures.
Key knowledge
- an overview of legal requirements for establishing a business such as registering the business name, registering a website domain, trade practices legislation, business tax compliance and work safe insurance
Key skills
- apply business management knowledge to practical and/or simulated business situations
Unit 3: Managing a Business
Area of Study 1
Business foundations
Outcome 1
- discuss the key characteristics of businesses and stakeholders, and analyse the relationship between corporate culture, management styles and management skills.
Key knowledge
- characteristics of stakeholders of businesses including their interests, potential conflicts between stakeholders, and corporate social responsibility considerations