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.
Macro factors affecting business planning
Key knowledge
- an overview of key legal and government regulations affecting businesses in the planning stage.
Operating factors that affect business planning
Key skills
- acquire, record, interpret and share business information and ideas
- apply business management knowledge to practical and/or simulated business situations.
Area of Study 3
Internal environment
Outcome 3
- describe the internal business environment and analyse how factors from within it may affect business planning.
Key knowledge
- types of legal business structures such as sole trader, partnership, private limited company, public listed company and the factors affecting choice of business structure.
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.