SSBU3.1.1 Victoria mapping

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.