Achievement standard 90838 - Business studies 1.2
Demonstrate an understanding of external factors influencing 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 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 and may be required to provide business response(s):
- stakeholders external to the business (customers, suppliers, local government, local community)
- legal influences (purpose and impact of the Consumer Guarantees Act 1993, the Fair Trading Act 1986, the Health and Safety in Employment Act 1992)
- economic influences (consumer confidence, business confidence, interest rates)
- environmental influences (factors affecting the physical environment e.g. weather patterns, natural disasters)
- competition (impact of current and potential competition)
Related Māori concepts
Māori concepts that relate to this achievement standard include:
- tikanga
- pūtake
- tūranga
- kaitiakitanga
- rangatiratanga.
See also:
Explanatory notes 3, 4, and 5
See:
Achievement grades at level 1
Last updated October 4, 2022
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