Course Title: Establish legal and risk management requirements of small business

Part B: Course Detail

Teaching Period: Term2 2019

Course Code: BUSM6503C

Course Title: Establish legal and risk management requirements of small business

School: 650T Vocational Business Education

Campus: City Campus

Program: C6164 - Advanced Diploma of Conveyancing

Course Contact: Callie.Harvey

Course Contact Phone: +61 3 99255772

Course Contact Email: callie.harvey@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

None

Course Description

This unit describes the skills and knowledge required to identify and comply with all regulations affecting the business.

It applies to individuals operating a small business who use analytical skills to interpret legislation and regulations and develop procedures to manage compliance.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBSMB401 Establish legal and risk management requirements of small business

Element:

1. Identify and implement business legal requirements

Performance Criteria:

1.1 Identify and research possible options for the business legal structure using appropriate sources

1.2 Determine legislation and regulatory requirements affecting operations of the business under its chosen structure

1.3 Develop and implement procedures to ensure full compliance with relevant legislation and regulatory requirements

Element:

2. Comply with legislation, codes and regulatory requirements

Performance Criteria:

2.1 Establish systems to ensure legal rights and responsibilities of the business are identified and the business is adequately protected, specifically in relation to work health and safety (WHS), business registration and environmental requirements

2.2 Identify taxation principles and requirements relevant to the business, and follow procedures to ensure compliance

2.3 Identify and carefully maintain legal documents and maintain and update relevant records to ensure their ongoing security and accessibility

2.4 Monitor provision of products and services of the business to protect legal rights and to comply with legal responsibilities

2.5 Conduct investigations to identify areas of non-compliance with legal and regulatory requirements, and take corrective action where necessary

Element:

3. Negotiate and arrange contracts

Performance Criteria:

3.1 Seek legal advice on contractual rights and obligations, if required, to clarify business liabilities

3.2 Investigate and assess potential products and services to determine procurement rights and ensure protection of business interests where applicable

3.3 Negotiate and secure contractual procurement rights for goods and services including contracts with relevant people, as required, in accordance with the business plan

3.4 Identify options for leasing or ownership of business premises and complete contractual arrangements in accordance with the business plan

Element:

4. Identify and treat business risks

Performance Criteria:

4.1 identify potential internal and external risks to the business

4.2 assess the probability and impact of identified risks

4.3 prioritise risks for treatment

4.4 develop actions to mitigate risks including identifying insurance requirements and adequate cover


Learning Outcomes



Details of Learning Activities

A range of learning activities are planned for this course including self-paced and collaborative classroom-based activities.

The self-paced activities will be delivered through various technology platforms and may include your contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions.

The collaborative classroom-based activities will include group discussions, group problem-solving activities and opportunities to practice your skills in a simulated/real workplace environment.

We expect you to participate and contribute in all scheduled learning activities.


Teaching Schedule

This course is comprised of three co-delivered competencies:

BSBCOM603 Plan and Establish Compliance Management Systems

FNSPRM601 Establish, Supervise and Monitor Practice Systems

BSBSMB401 Establish Legal and Risk Management Requirements of Small Business

 

The Teaching Schedule for this course is as follows

Induction Session

Prior to training commencement, a program level induction session will be conducted that comprises the following:

  • Program overview and requirements
  • MyRMIT/Canvas
  • Overview of assessment requirements
  • Pre-Training Review including:

o    Recognition of Prior Learning and Credit Transfers

o    Assessment of current skills and knowledge

  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  • Student Charter

 

Week 

Topic

Workshop

Assessment

Week 1: 08 July 2019Introductions and Identify regulations and requirements affecting the business

Collaborate Session-1

(Thursday 18:00-19:30 PM)

Collaborate Session-1

(Saturday 15:00-16:30 PM)

 
Week 2: 15 July 2019Identify regulations and requirements affecting the business

Collaborate Session-2 

(Thursday 18:00-19:30 PM)

Collaborate Session-2

(Saturday 15:00-16:30 PM)

 
Week 3: 22 July 2019Preparing for AT1 success

Workshop -1

(Wednesday 17:30-19:00 PM)

 
Week 4: 29 July 2019Plan compliance management systems, AT1 Q&A

Collaborate Session-3 

(Thursday 18:00-19:30 PM)

Collaborate Session-3

(Saturday 15:00-16:30 PM)

Assessment 1 - Due

(04 Aug, 23:59 PM)

Week 5: 05 Aug 2019Plan compliance management systems

Collaborate Session-4 

(Thursday 18:00-19:30 PM)

Collaborate Session-4

(Saturday 15:00-16:30 PM)

AT1 Feedback 

(11 Aug, 23:59 PM)

 

Week 6: 12 Aug 2019Establish compliance management systems

Collaborate Session-5 

(Thursday 18:00-19:30 PM)

Collaborate Session-5

(Saturday 15:00-16:30 PM)

AT1 re-submissions - due

(18 Aug, 23:59 PM)

Week 7: 19 Aug 2019Preparing for AT2 success

Workshop-2

(Wednesday 17:30-19:00 PM)

 
Week 8: 26 Aug 2019Establish compliance management systems, AT2 Q&A

Collaborate Session-6

(Thursday 18:00-19:30 PM)

Collaborate Session-6

(Saturday 15:00-16:30 PM)

Assessment 2

Due

(30 Aug, 23:59 PM)

Mid-Semester Break: 2-6 September

AT2

Feedback 

(08 Sept, 23:59 PM)

Week 09: 09 Sep 2019Comply with regulations affecting the business

Collaborate Session-7 

(Thursday 18:00-19:30 PM)

Collaborate Session-7

(Saturday 15:00-16:30 PM)

AT2 re-submissions - due

(15 Sep 2019)

Week 10: 16 Sep 2019Preparing for AT3 success 

Workshop-3

(Wednesday 17:30-19:00 PM)

 
Week 11: 23 Sep 2019Comply with regulations affecting the business, AT3 Q&A

Collaborate Session-8 

(Thursday 18:00-19:30 PM)

Collaborate Session-8

(Saturday 15:00-16:30 PM)

Assessment 3 Due
(29 Sep, 23:59 PM)

Week 12: 30 Sep 2019Supervise and monitor practice systems

Collaborate Session-9

(Thursday 18:00-19:30 PM)

Collaborate Session-9

(Saturday 15:00-16:30 PM)

AT3 

Feedback 

(06 Oct, 23:59 PM)

Week 13: 07 Oct 2019Supervise and monitor practice systems

Collaborate Session-10 

(Thursday 18:00-19:30 PM)

Collaborate Session-10

(Saturday 15:00-16:30 PM)

AT3 re-submissions - due

(13 Oct, 23:59 PM)

Week 14: 14 Oct 2019Preparing for AT4 success

Workshop-4

(Wednesday 17:30-19:00 PM)

 
Week 15: 21 Oct 2019Course Wrap-up, AT4 Q&A

Collaborate Session-11 

(Thursday 18:00-19:30 PM)

Collaborate Session-11

(Saturday 15:00-16:30 PM)

Assessment 4

Due

(27 Oct, 23:59 PM)

Week 16: 28 Oct 2019Extensions / Re-submissions AT4

Feedback 

(03 Nov, 23:59 PM)

Week 17: 4 Nov 2019Grade Entry 

AT4 re-submissions - due

(10 Nov, 23:59 PM)

The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete this course.  This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

 

This overall semester schedule of the face to face classes is subject to changes.


Learning Resources

Prescribed Texts


References


Other Resources

Online learning materials can be accessed by going into the RMIT web sites Online Learning Hub.

The online learning materials listed include:

  • Course outlines
  • Power point Presentations
  • Supporting Reading material
  • Industry relevant articles
  • Activities.


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • demonstrate a systematic approach to identifying, managing and meeting legal and regulatory requirements, specifically in regard to WHS, business registration and environmental requirements
  • ensure compliance, by:
  • following taxation and industrial relations principles
  • updating and maintaining legal documents
  • investigating areas of non-compliance
  • monitoring provision of products and services
  • taking corrective action where necessary
  • negotiate and arrange contracts, including:
  • seeking legal advice
  • investigating procurement rights
  • identifying options of leasing or ownership of business premises.
  • Identify, assess and treat risks specific to the business including
  • prioritising risks with highest probability of occurrence and greatest negative impact on the business
  • identifying insurance requirements

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • outline business registration and licensing requirements
  • identify all government legislative requirements relating to the specific business operation
  • explain creation and termination of relevant legal contracts
  • summarise relevant cultural differences and legal implications
  • describe legal rights and obligations of alternative ownership structures
  • outline necessary record keeping to meet minimum legal and taxation requirements
  • summarise relevant consumer legislation and industry codes of practice
  • outline the key steps in the risk management process
  • explain relevant insurance requirements and products.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the Management and Leadership Small and Micro Business field of work and include access to:

  • office equipment and resources
  • business technology including internet access
  • specialist software for analysis of data
  • relevant legislation, regulations, standards and codes
  • relevant workplace documentation and resources
  • case studies, or where possible, real situations
  • interaction with others.

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Feedback

Feedback will be provided during the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in this course. Assessment may include oral examination. Finally you can email or arrange an appointment with your teacher to gain more feedback on your progress.

 


Assessment Tasks

Compliance and Risk

BUSM6503C, LAW5752C & BUSM8845C

This cluster unit is comprised of following three competencies that are co-delivered and co-assessed (delivered and assessed together). You must successfully complete Tasks 1, 2, 3 & 4 to be deemed competent.

 

Assessment Task 1 – Knowledge Assessment

Identify requirements and plan appropriate systems.

Due in week 4 by 04 Aug 23:59pm AEST

Approx.1500-2000 words

For this assessment task students are required to complete seven (7) short answer written questions in approx. 200-300 words based upon the content delivered in class from weeks 1-3. Students will need to research relevant legislative, business registration and licensing requirements governing Australian businesses and specific to the conveyancing business operation. Students are required to participate actively in discussion activities, collaborate sessions and scheduled face-to-face workshops in addition to the learning materials provided.

Unit of Competency assessed:

BSBSMB401 Establish Legal and Risk Management Requirements of Small Business

 

Assessment Task 2 – Case Study

Research, plan and establish appropriate systems

Due in week 8 by 30 August 23:59pm AEST

(Not available until 05 August)

Approx. 2000-2500 words

For this assessment task, students are required to answer written questions for an overarching case study on a conveyancing business that will require them to demonstrate the skills and knowledge required to identify, plan and establish appropriate compliance management systems which enable an organisation to fulfil its obligations and responsibilities under applicable compliance requirements. Students will need to research planning and development of relevant compliance management systems that are applicable to Australian businesses and specific to conveyancing business operation. Students are required to participate actively in discussion activities, collaborate sessions and scheduled face-to-face workshops in addition to reading of the learning materials provided.

Unit of Competencies co-assessed are:

BSBSMB401 Establish Legal and Risk Management Requirements of Small Business

BSBCOM603 Plan and Establish Compliance Management Systems


Assessment Task 3 – Knowledge Assessment

Comply with regulations affecting the business

Due in week 11 by 29 Sep 23:59pm AEST

(Not available until 09 September)

Approx. 2000-2500 words

For this assessment task, students are required to answer ten (10) written questions in approx. 200-300 words to demonstrate the skills and knowledge required to plan, establish, supervise and monitor appropriate compliance management systems to ensure a practise or unit of business conforms to legislative and regulatory requirements, and meets standards defined in professional code of practice. Students will need to research relevant compliance management systems that are applicable to Australian businesses and specific to conveyancing business operation. Students are required to participate actively in discussion activities, collaborate sessions and scheduled face-to-face workshops in addition to reading of the learning materials provided.

Unit of Competencies co-assessed are:

BSBCOM603 Plan and Establish Compliance Management Systems

FNSPRM601 Establish, Supervise and Monitor Practice Systems


Assessment Task 4 – Case Study

Comply, supervise and monitor performance

Due in week 15 by 27 October 23:59pm AEST

(Not available until 30 September)

Approx. 2000-2500 words

For this assessment task, you are required to answer written questions for an overarching case study presented on a conveyancing business in Assessment Task 2. This assessment task will provide additional information and new scenarios in the overarching case study for students to demonstrate the skills and knowledge required to identify, plan, establish, supervise and monitor appropriate compliance management systems to ensure a practise or unit of business conforms to legislative and regulatory requirements, and meets standards defined in professional code of practice. Students will need to research planning, development and operation of relevant compliance management systems that are applicable to Australian businesses and specific to conveyancing business operation. Students are required to participate actively in discussion activities, collaborate sessions and scheduled face-to-face workshops in addition to reading of the learning materials provided.

Unit of Competencies co-assessed are:

BSBSMB401 Establish Legal and Risk Management Requirements of Small Business

BSBCOM603 Plan and Establish Compliance Management Systems

FNSPRM601 Establish, Supervise and Monitor Practice Systems

 You must successfully complete all assessment tasks to be deemed competent


Assessment Matrix

The assessment matrix that maps all the assessments is available on CANVAS

Other Information

Submission Requirements

You should:

  • Ensure that you submit assessments on or before the due date.
  • Always retain a copy of your assessment tasks. (hard copy and soft copy)
  • When you submit work for assessment at RMIT University you need to use the Assessment task document that includes a declaration and statement of authorship.
  • Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers.

 

Late Submission Procedures  You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.  If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.   More Information:  https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work   Where an extension of greater than seven days is needed, you must apply for Special Consideration.  Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.   More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration   Resubmissions: If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a particular Course Assessment Task you will be allowed one resubmission.  Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.     If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.     Adjustments to Assessment  In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:  https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/adjustments-to-assessment     Marking Guide (Competency):  You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.   You will receive feedback on each assessment task that will inform you about your progress and how you are performing.    The following grades are available for this course:
CACompetency Achieved
NYC Not Yet Competent
DNS Did Not Submit for Assessment

 

Course Overview: Access Course Overview