BSBESB402 - Establish legal and risk management requirements of new business ventures
Nominal hours
Location
Prerequisites
Co-requisites
(Corequisite units must be studied concurrently with this unit)
Overview
This unit describes the skills and knowledge required to identify and comply with legal and risk management requirements of the business or new business venture, including negotiating, creating and planning for legal contracts used within the business, where required.The unit applies to those establishing a business providing self-employment, as well as those establishing a new venture as part of a larger organisation.
Assessment
For Melbourne campuses
Assessment tasks will be designed to reinforce & extend knowledge and skill competence within set & controlled parameters in accordance with each unit’s learning outcomes & performance criteria requirements, incl the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines.
Students will be expected to demonstrate the following required skills:
* establish legal and risk management requirements for at least one business or new business venture, and implement procedures for meeting them
* create at least one contract with a supplier of goods or services to business or new business venture
* identify, assess and treat at least three different risks specific to business or new business venture and prioritise risks with highest probability of occurrence and greatest negative impact.
Students will also be expected to demonstrate the following knowledge:
* legislative and regulatory requirements relating to operation of new business ventures, including:
* consumer legislation
* environmental requirements and responsibilities
* registration and licensing
* industry codes of practice and standards
* work health and safety (WHS) requirements and responsibilities
* insurance products and requirements, including adequate coverage
* workplace procedures for:
* negotiating, creating and terminating contractual arrangements, including seeking legal advice
* investigating and securing procurement rights relating to products and/or services
* identifying options for leasing or owning business premises
* legal rights and obligations of alternative ownership structures
* key features of workplace record-keeping processes and procedures that:
* meet minimum legal and taxation requirements
* maintain records in a secure and accessible manner
* key components of compliance procedures:
* following taxation and industrial relations principles and requirements
* updating and maintaining legal documents
* investigating areas of non-compliance
* monitoring provision of products and/or services
* taking corrective action where necessary
* key steps in risk management process, including procedures for developing and implementing business risk treatment plan.
Required reading
The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by Victoria University and/or via the Victoria University e-learning system.
As part of a course
This unit is studied as part of the following course(s):