Achievement standard 90838 - Business studies 1.2
Demonstrate an understanding of external factors influencing a small business
This achievement standard relates to learning objective
Students will gain knowledge, skills, and experience to:
- understand how, as a result of internal and external factors, small business owners make operational decisions that have consequences for the success of their business.
Explanatory note 2
Contexts for learning
A typical learning context is a small local business (of up to approximately 20 employees or one of local or community significance) that allows students to demonstrate their understanding of the external factors influencing a small business.
Business knowledge, concepts, and content
Students are expected to demonstrate understanding of the following business knowledge, concepts, and content (in no particular order):
- stakeholders (external to the business)
- environmental sustainability (societal expectations and business practices)
- citizenship (expectations of the role of small business in the development and well being of society; e.g. supporting the local community)
- legal influences (an overview of legislation such as the Employment Relations Act 2000, the Consumer Guarantees Act 1993, the Fair Trading Act 1986, the Health and Safety in Employment Act 1992, the Privacy Act 1993, and the Resource Management Act 1991)
- economic influences (factors affecting the business cycle)
- environmental influences (factors affecting the physical environment, for example, weather patterns, local government regulations, for example, waste management)
- competition and the local marketplace
- business opportunities from global connections.
Related Māori concepts
Māori concepts that relate to this achievement standard include:
Explanatory notes 3, 4, and 5
Achievement grades at level 1
Last updated August 27, 2014