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VCE Business Studies

Business Management Unit 2: Establishing a Business


There are no prerequisites for this unit.

Course Description

This unit focusses on the establishment phase of a business’s life. Establishing a business involves complying with legal requirements as well as making decisions about how best to establish a system of financial record keeping, staff the business and establish a customer base. In this unit students examine the legal requirements that must be satisfied to establish a business. They investigate the essential features of effective marketing and consider the best way to meet the needs of the business in terms of staffing and financial record keeping. Students analyse various management practices in this area by applying this knowledge to contemporary business case studies from the past four years.

Areas of Study

Legal requirements and financial considerations

Students are introduced to the legal requirements and financial considerations that are vital to establishing a business. They also consider the implications for the business if these requirements are not met.

Marketing a business

Students develop their understanding that marketing encompasses a wide range of management practices, from identifying the needs of the target market and establishing a brand presence, through to considerations on price, product features and packaging, promotion, place, people, physical evidence and processes. They also consider effective public relations strategies and the benefits and costs these can bring to a business.

Staffing a business

Students examine the staffing requirements that will meet the needs and objectives of the business and contribute to productivity and effectiveness. They research the processes undertaken by the business with relation to the recruitment, selection and induction of staff. Students consider the opportunities that the skills and capabilities of staff can contribute to the business, the legal obligations that must be addressed and the relationship between employers and employees within a business.


Assessment Tasks
(school-assessed coursework)
Explain the importance when establishing a business of complying with legal requirements and financial record keeping, and establishing effective policies and procedures. Case study, test, simulation and report.
Explain the importance of establishing a customer base and a marketing presence to achieve the objectives of the business, analyse effective marketing and public relations strategies and apply these strategies to business-related case studies. Case study, test, simulation and report.
Discuss the staffing needs for a business and evaluate the benefits and limitations of management strategies in this area from both an employer and an employee perspective. Case study, test, simulation and report.

Overall Final Assessment

End of Semester Examination – 1.5 hours.

Information can be obtained from the Victorian Curriculum and Assessment Authority, Victoria, Australia: