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 October 4, 2022
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