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

Part B: Course Detail

Teaching Period: Term2 2021

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: Theresa Lyford

Course Contact Phone: +61 3 99255444

Course Contact Email: theresa.lyford@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Sukant Arora 

sukant.arora@rmit.edu.au 

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

This semester we will be learning remotely through Collaborate Ultra Sessions.

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

This course will be delivered via our existing learning management system, Canvas.  This means that, for the foreseeable future, there will be no face-to-face classes in any of the units for which you are enrolled.

Classes in each of your units will still take place in their normal scheduled time-slots, but instead of being conducted in a face-to-face mode, your teachers will utilise the Collaborate Ultra platform to deliver ‘live’ online classes.  These classes delivered online will not only provide you with the required learning materials for those sessions, but they will also enable interactions with your teachers and fellow students via forums or discussion boards.

This course guide contains information that describes course aspects that don’t change and are locked in well ahead of the semester. Any information that differs due to changes of delivery is a consequence of COVID-19. Your course coordinator will advise you as to the correct details via Canvas.



Teaching Schedule

This course is comprised of three co-delivered and co-assessed competencies: 

BSBCOM603 Plan and Establish Compliance Management Systems (LAW5752C)
FNSPRM601 Establish Systems to Conform with Legislation (BUSM8845C)
BSBSMB401 Establish Legal and Risk Management Requirements of Small Business (BUSM6053C)

 

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:
    • Recognition of Prior Learning and Credit Transfers
    • Assessment of current skills and knowledge
  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  • Student responsibilities 

The Teaching Schedule for this course is as follows: Semester 2, 2021

Please note that this schedule is subject to change.

Week number 

Topic

Collaborate Session & Workshop

Assessment Task (AT)

Week 1 Introduction to the Unit

Collaborate Session-1

 
Week 2 Identify regulations and requirements affecting the business

Collaborate Session-2 

Week 1 Practice Quiz

Week 3 Preparing for AT1 success

Collaborate Session-3 

Week 2 Practice Quiz

Week 4 Plan compliance management systems, AT1 Q&A

Workshop-1 

Week 3 Practice Quiz

Week 5 Plan compliance management systems

Collaborate Session-4 

Assessment 1 Due

(08 Aug, 23:59)

Week 6 Establish compliance management systems

Collaborate Session-5 

 

Week 7 Preparing for AT2 success

Collaborate Session-6

 

Week 8 Establish compliance management systems, AT2 Q&A

Collaborate Session-7

Assessment 2 Due

29 Aug, 23:59)

Mid - Semester Break 30 Aug - 5 Sept

Week 09 Comply with regulations affecting the business

Collaborate Session-8

 

Week 10 Preparing for AT3 success 

Workshop-3

 

Week 11 Comply with regulations affecting the business, AT3 Q&A

Collaborate Session-9

Assessment 3 Due

(26 Sept, 23:59)

Week 12 Supervise and monitor practice systems

Collaborate Session-10

 

Week 13 Supervise and monitor practice systems

Collaborate Session-11

 

Week 14 Preparing for AT4 success

Workshop

 

Week 15 Course Wrap-up, AT4 Q&A

Collaborate Session-12

Assessment 4 Due

(24 oct, 23:59)

Week 16 Extensions / Re-submissions    
Week 17 Grade Entry  



the workbooks.  


Learning Resources

Prescribed Texts


References


Other Resources

Online learning materials can be accessed by going into the RMIT's Learning Management System, Canvas. 

The online learning materials listed may 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

In order to achieve competency in this unit, you must satisfactorily complete the criteria for each of the four assessments in this course.

 

Assessment Task 1: Identify requirements and plan appropriate systems

Due: 11:59PM Sunday of Week 5

The purpose of this assessment is for you to show how you can identify and comply with regulations affecting a small business.

Assessment Task 2: Research plan and establish appropriate system

Due: 11:59PM Sunday of Week 8

The purpose of this assessment is for you to exhibit your ability to plan for and establish appropriate compliance program/ management systems which would enable an organisation to fulfil its obligations and responsibilities under applicable compliance requirements.

 

Assessment Task 3: Comply with regulations affecting the business

Due: 11:59PM Sunday of Week 11

The purpose of this assessment is for you to exhibit their ability to plan, establish, supervise and monitor appropriate practice systems which would enable an organisation to fulfil its obligations and responsibilities under applicable compliance requirements, conform to legislative and regulatory requirements, and meet standards defined in professional code of practice.


Assessment Task 4: Comply, supervise and monitor performance and provide recommendations

Due: 11:59PM Sunday of Week 15

The purpose of this assessment is for you to exhibit your ability to plan, establish, supervise and monitor appropriate practice systems which would enable an organisation to fulfil its obligations and responsibilities under applicable compliance requirements, confirm to legislative and regulatory requirements, and meet standards defined in professional codes of practice.




Assessment Matrix

The assessment matrix that maps all the assessment is available on Canvas.


Other Information

Submission Requirements

  • 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 a footer with your name, student number, the title of the assessment, unit code and title and page numbers.

 

Resubmissions (VET Programs)

If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a 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.

 

Penalties for Late Submission 

Late submissions of assignments without special consideration or extension will automatically be considered a re-submission (see above).

 

Extensions, Special Consideration and Adjustment to Assessments

 

Extensions:

Extensions are available for unforeseen circumstances of a short-term nature.

An application form must be submitted to the school at least one working day before the due date of the assessment.

Extensions can be approved for a maximum of one week (seven calendar days) past the due date for an assessment. (Where students need an extension exceeding one week they must instead apply for special consideration.)

 

Special consideration:

Special consideration is available for unexpected circumstances outside students’ control. These include but are not limited to: unexpected short-term ill health, and unavoidable family, work, cultural or religious commitments.

An application for special consideration is made in advance of an assessment wherever possible but will normally be accepted within five working days after the assessment date

For more information, see the Special Consideration page of the RMIT website.

 

Adjustments to Assessment:

RMIT provides several adjustments to assessment for students experiencing ongoing or long-term circumstances. Find the right one for your circumstances here.

 

Changes to the Assessment Scheme

Where a change to assessment approved by the dean/head of school changes an assessment due date, students will be given at least five working days’ notice of the new due date.

 

Feedback

You can expect to receive marks and feedback on in-course assessment work in time to improve your performance in related assessment tasks later in the course.

 

Academic Integrity and Misconduct

Students demonstrate academic integrity in their assessment practices by:

  • engaging with assessment activities in an honest way;
  • providing accountability for the authorship and originality of work submitted;
  • acknowledging the work of others and the re-use of original work.

Academic misconduct is addressed in accordance with the Student conduct policy

Assessment involving research with human participants, their information or their tissue, or animal subjects is carried out in accordance with the Staff ethics and integrity policy.

For further information see the Academic Integrity website.

 

Review and Appeal

A student may request a review of an assessment result or appeal a final course grade in accordance with the Conduct of assessment and appeals section of the Assessment Processes.

 

Grade Criteria

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

The following grades are available for this course.

Vocational education grades:

CA - Competency Achieved

NYC - Not Yet Competent

DNS - Did Not Submit for assessment

 

Course Overview: Access Course Overview