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Achievement standard 90837 - Business studies 1.1

Demonstrate an understanding of internal features of a small business.

 This achievement standard relates to learning objective 6-1.

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 internal features of a small business.

Business knowledge, concepts, and content

Students are expected to demonstrate understanding of the following business knowledge, concepts, and content:

  • advantages and disadvantages of ownership structure (sole trader, partnership, registered company)
  • sources of finance (short term, long term, internal, external)
  • communication with stakeholders (importance of effective communication, advantages and disadvantages of different methods, barriers)
  • employer/employee relationships (features and importance of effective relationships)
  • entrepreneur (role, skills and characteristics)
  • business objectives (how objectives inform business operations)
  • business success (description, different methods of measurement, factors affecting)
  • financial documents (importance of keeping financial documents such as bank statements, Internal Revenue Department requirements)

Related Māori concepts

Māori concepts that relate to this achievement standard include:

  • tikanga
  • pūtake
  • tūranga
  • kaitiakitanga
  • rangatiratanga.

See also:

Explanatory note 3, 4, and 5

See:  Achievement grades at level 1

Last updated February 5, 2015