BSBSMB401: When You Are Running A Small Business: Establish Legal And Risk Management Requirements Of Small Business Assignment, VU, Australia

University Victoria University [VU]
Subject BSBSMB401: Establish Legal And Risk Management Requirements Of Small Business

Question 1

When you are running a small business, it is critical that you understand your responsibilities and record-keeping requirements. Explain the general responsibilities for a small business for each legislation and requirement listed. Additionally, provide an overview of record-keeping requirements for each legislation/requirement listed. Your responses must be in your own words.

You may recreate the table below or you can use a short answer format for your response. Regardless of the format you choose, you must ensure you explain the general responsibilities and record-keeping requirements for each of the eight (8) requirements listed.

Legislation/regulatory requirementGeneral responsibilitiesRecord-keeping requirements (including security)
Business registration
Business licensing
Small business fair dismissal code
Privacy Act 1988
Anti-discrimination and EEO legislation
Work health and safety legislation
Environmental legislation
Australian taxation legislation

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Question 2

In your own words, explain the purpose of a contract and explain how a legal contract is formed.

Question 3

Explain a minimum of three (3) circumstances that can result in the termination of a contract.

Question 4

You have a vacant customer service role and you are currently shortlisting applicants based on their resumes and applications. The table below provides excerpts from three (3) candidates’ applications:

CriteriaCandidate 1Candidate 2Candidate 3
Age601824
GenderMaleMaleFemale
ReligionTaoismNilAustralian Aboriginal religion
NationalityAustralianIndianAboriginal
Education levelDiplomaCertificate IVBachelor’s degree
Available full time or part-timeFull timeFull timePart-time
Identify as Aboriginal or Torres Strait IslanderNoNoYes

Based on this information, explain applicable cultural differences that you can identify and refer to specific legislation to discuss the legal implications of these in the recruitment process.

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Question 5

When you set up a small business, there is a range of structures that you can select. For each business structure listed in the table, explain the legal rights and obligations for each. You must use your own words.

You may recreate the table below or you can use a short answer format for your response. Regardless of the format you choose, you must ensure you explain legal rights and obligations for each of the four (4) business structures listed.

Business structureLegal rights and obligations for each
Company
Partnership
Trust
Sole trader

Question 6

To complete this assessment task, you will need to access and read documents from the list below, which are located on the Global Star Enterprises (GSE) intranet >

1. Business > Legal > ‘Australian Consumer Law’

2. Business > Legal > ‘Standards Australia’

3. Project Management > General > ‘ISO 9001 2008 Overview’

Part of being an effective business owner includes ensuring you and your team members deliver quality customer service in line with legislative and regulatory requirements. Explain the key features of each legislation, regulation, standard and code listed in the table below. Additionally, explain what must be done to ensure compliance with each requirement.

You may recreate the table below or you can use a short answer format for your response. Regardless of the format you choose, you must ensure you explain the key features and compliance requirements for each legislation, regulation, standard and code listed.

Legislation, regulations, standards and codesOverview (key features)Explain what must be done to ensure compliance
The Competition and Consumer Act 2010
Model Work Health and Safety Regulations 2016
ISO 9001:2015 quality management system
The International Customer Service Standard (ICSS: 2015-2020)

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Question 7

Part of effective business management includes identifying, managing, and controlling business risks. Explain each component relating to risk management listed in the table below. You may conduct additional research online if required. Your responses must be in your own words.

You may recreate the table below or you can use a short answer format for your response. Regardless of the format you choose, you must ensure you explain each of the three (3) components listed.

ComponentExplanation
Explain your responsibilities as an employer/PCBU (person conducting the business or undertaking) under WHS legislation, in particular your duty of care to identify and manage hazards.
Explain a minimum of two (2) common procedures for identifying hazards and risks relevant to a small business
Explain the key steps in the risk management process.

Note: Your response must include reference to a minimum of five (5) key risk management elements.

Question 8

To be effective in your role, you must ensure that you can manage your workload through effective planning and prioritization. Imagine you are working from 7 am to 4 pm and you have the following tasks on your to-do list for today:

 

1. Respond to a customer complaint regarding the price of a quote

2. Email the supplier to follow up on parts needed for a job this afternoon

3. Generate a quote for a large job due at 10 am

4. Respond to a customer sales inquiry

5. Attend a handover on-site at 3 pm

6. Approve payroll

7. Approve invoices

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