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The unit examines how ideas are created, including market gaps, technological developments and shifting customer needs, and what issues matter before establishing a business. It then analyses internal and external environments—covering business models, legal structures, staffing, plus macro and operating pressures—and explains how these factors shape business planning and outcomes. 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Therefore, how businesses are formed and the fostering of conditions under which new business ideas can emerge are vital for a nation’s wellbeing. Taking a business idea and planning how to make it a reality are the cornerstones of economic and social development. In this unit students explore the factors affecting business ideas and the internal and external environments within which businesses operate, and the effect of these on planning a business. |  |\n| --- | --- |\n| Area of Study 1\u003Cbr>In this area of study students investigate how business ideas are created and how conditions can be fostered for new business ideas to emerge. New business ideas are formed through a range of sources, such as identifying a gap in the market, technological developments and changing customer needs. Students explore some of the issues that need to be considered before a business can be established.\u003Cbr>Outcome:\u003Cbr>On completion of this unit the student should be able to describe how and why business ideas are created and developed and explain the methods by which a culture of business innovation and entrepreneurship may be fostered in a nation.\u003Cbr>Learning Dispositions:\u003Cbr>Resilience, Reflectiveness and Persistence – Embraces challenges Resourcefulness – Takes responsibility for their own learning\u003Cbr>Area of Study 2\u003Cbr>The internal environment affects the approach to and success of business planning. The owner will have more control over the activities, functions and pressures that occur within a business. These factors, such as business models, legal business structures and staffing, will also be influenced to some extent by the external environment. Students explore the factors within the internal environment and consider how planning decisions may have an effect on the ultimate success of a business.\u003Cbr>Outcome:\u003Cbr>On completion of this unit the student should be able to describe the internal business environment and analyse how factors from within it may affect business planning.\u003Cbr>Learning dispositions:\u003Cbr>Critical and Creative Inquiry – Uses information to construct new and deeper understandings\u003Cbr>Resilience, Reflectiveness and Persistence – Sees tasks through to completion\u003Cbr>Area of Study 3\u003Cbr>The external environment consists of all elements outside a business that may act as pressures or forces on the operations of a business. Students consider factors from the external environment such as legal, political, social, economic, technological, global, and corporate social responsibility factors and the effects these may have on | Home Learning\u003Cbr>To consolidate classwork, students should:\u003Cbr>• Develop a glossary of key terms with definitions (converted into cue cards)\u003Cbr>• Complete the extended knowledge questions from textbook\u003Cbr>• Complete the JacPlus practice questions\u003Cbr>Parent/Guardian can support their student by:\u003Cbr>Encourage discussion of current business issues in news media\u003Cbr>Testing knowledge of key terms\u003Cbr>Supporting student with clarification of business concepts\u003Cbr>Monitoring Compass for Learning Task due dates\u003Cbr>Resources to access more information:\u003Cbr>Victorian Curriculum Assessment Authority official website of the study design\u003Cbr>[https://www.vcaa.vic.edu.au/](https://www.vcaa.vic.edu.au/)\u003Cbr>The Age Business Section\u003Cbr>[https://www.theage.com.au/business](https://www.theage.com.au/business) |\n\n| the decisions made when planning a business. Students investigate how the internal environment relates to the external environment and the effects of this relationship on planning a business.\u003Cbr>Outcome:\u003Cbr>On completion of this unit the student should be able to describe the external environment of a business and explain how the macro and operating factors within it may affect business planning.\u003Cbr>Learning dispositions:\u003Cbr>Critical and Creative Inquiry – Breaks down ideas and proble","cbCaitnAw1VCC6pU","https://ap.wps.com/l/cbCaitnAw1VCC6pU","pdf",157089,"English","# Overview\n# Area of Study 1\n## Learning Dispositions\n# Area of Study 2\n## Learning Dispositions\n# Area of Study 3\n## Learning Dispositions\n# Home Learning\n## Parent/Guardian Support\n## Resources","[{\"question\":\"How are new business ideas created in Area of Study 1?\",\"answer\":\"Students investigate how business ideas form through sources such as identifying market gaps, technological developments, and changing customer needs, and they consider issues to address before establishing a business.\"},{\"question\":\"What is the role of the internal environment in business planning?\",\"answer\":\"The internal environment shapes how planning approaches and succeeds, including factors like business models, legal structures, and staffing, which can influence decisions and the business’s ultimate success.\"},{\"question\":\"Which external factors affect a business, and how do they impact planning?\",\"answer\":\"The external environment includes pressures or forces outside the business, such as legal, political, social, economic, technological, global, and corporate social responsibility factors, affecting planning through macro and operating considerations.\"}]","Year 11 Business Management - Unit Overview - Area of Study 1-3 | PDF",1789908980]