This unit focuses on the establishment phase of a business's life. Establishing a business involves complying with legal requirements as well as making decisions about how best to establish a system of financial record keeping, staff the business and establish a customer base. In this unit students examine the legal requirements that must be satisfied to establish a business. They investigate the essential features of effective marketing and consider the best way to meet the needs of the business in terms of staffing and financial record keeping. Students analyse various management practices in this area by applying this knowledge to contemporary business case studies from the past four years.

This unit is delivered in Year 11.

Unit details

Study level:
Vocational and further education (TAFE)
Unit code:
BM022

Assessment

Assessment tasks will be designed to reinforce and extend knowledge 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 explain the importance when establishing a business of complying with legal requirements and financial record keeping, and establishing effective policies and procedures. Outcome 2 On completion of this unit the student should be able to explain the importance of establishing a customer base and a marketing presence to achieve the objectives of the business, analyse effective marketing and public relations strategies and apply these strategies to business-related case studies. Outcome 3 On completion of this unit the student should be able to discuss the staffing needs for a business and evaluate the benefits and limitations of management strategies in this area from both an employer and an employee perspective.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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