Businesses of all sizes are major contributors to the economic and social wellbeing of a nation. Therefore how businesses are formed and the fostering of conditions under which new business ideas can emerge are vital for a nation's wellbeing. Taking a business idea and planning how to make it a reality are the cornerstones of economic and social development. In this unit students explore the factors affecting business ideas and the internal and external environments within which businesses operate, and the effect of these on planning a business.

This unit is delivered in Year 11.

Unit details

Study level:
Vocational and further education (TAFE)
Unit code:
BM011

Assessment

Assessment tasks will be designed to reinforce and extend knowledge and skills in accordance with each unit's learning outcomes, including the setting of practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines. Students will be expected to demonstrate the following knowledge: Outcome 1 On completion of this unit the student should be able to describe how and why business ideas are created and developed, and explain the methods by which a culture of business innovation and entrepreneurship may be fostered in a nation. Outcome 2 On completion of this unit the student should be able to describe the external environment of a business and explain how the macro and operating factors within it may affect business planning. Outcome 3 On completion of this unit the student should be able to describe the internal business environment and analyse how factors from within it may affect business planning.Assessment will follow the requirements set out in the VCE Business Management Study Guide: The award of satisfactory completion for a unit is based on whether the student has demonstrated the set of outcomes specified for the unit. A variety of learning activities and assessment tasks will provide a range of opportunities for students to demonstrate the key knowledge and key skills in the outcomes. Assessment will be a part of the regular teaching and learning program and will be completed mainly in class and within a limited time-frame. All assessments at Units 1 and 2 are school-based. For this unit students are required to demonstrate achievement of three outcomes. As a set these outcomes encompass all areas of study in the unit.

Where to next?

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