BUSINESS MANAGEMENT
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
- the importance of establishing bank accounts, financial control systems and record-keeping strategies
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