Unit+Outline

The Business Environment: Course Outline
The course outline for this unit is available at the [|BSSS website].

2011 Term 1 content is as follows; links to individual pages give further detail:

** The World of Business ** o The environments of business  � Macro environment ([|economic], [|environmental], [|global], [|political], [|social]) Operating environment Internal environment o Function of business in the value chain o Contribution to the economy � Wealth creation � [|Employment] � [|Innovation] � [|Quality of life] o Identification of relevant [|stakeholders](see a Canadian case study of [|stakeholder consultation]) o Critical issues in [|business success and failure] ** Entrepreneurship ** o [|What is an entrepreneur]? o Personal qualities including: � Motivation � Experience � Expectation o Other influences � Cultural [|background] � Gender o Identifying a [|business opportunity]

** Types of business entity ** o Classification of business � [|Legal structure] � [|Industry](see ANZSIC 2006, pages 41-44) � [|Size] � Public/private sector � Role of the Australian Stock Exchange (since 2006, the Australian Securities Exchange or [|ASX]) � [|International]and [|transnational]organisations o Factors influencing choice of legal structure � Size � Ownership � finance, � privatisation o Legal considerations in setting up a business � [|Registration of business name]and other [|permits] � [|Zoning](and development applications) � Health regulations � [|Trade practices](the ACCC Australian Competition & Consumer Commission) � [|Patents] ** Business Life Cycle ** o Phases of the [|Business Life Cycle] � Establishment � (Expansion and) Growth � Maturity � Post- maturity o [|Challenges]faced at each stage of the business life cycle o [|Mergers and Takeovers] o Voluntary and Involuntary Cessation o Bankruptcy, Administration and Liquidation ** Key Considerations in setting up a business ** o Establishment options � New � Existing � Franchise o Location � Visibility � Cost � Proximity to suppliers � Customers � Support services o Source of finance � Debt � Equity � Gearing o Establishing supply and distribution networks o Outsourcing operations