BSBESB402 Establish Legal and Risk Management Requirements of new business ventures Assessment

Please answer the following questions:

1. Briefly list and explain the four (4) risk treatment options

2. List and explain three (3) strategies for negotiating contracted procurement rights for goods and/or services.

3. When completing contractual arrangements according to workplace procedures what must you consider?

4. Outline the five (5) areas of Consumer Rights that the Competition and Consumer Act protects. 

5. In your state/territory which piece of legislation would you find information on your environmental requirements and responsibilities?

6. What are the key components of a compliance procedure in correcting non-compliance?

7. Provide a description of the four (4) main types of legal business structures.

8. What are three (3) options for procuring business premises?

9. You can seek legal advice if required to confirm contractual rights and obligations. What areas could you seek legal advice for?

Part 2

Practical Demonstration

TASK 1: BUSINESS

Question 1: What business structure are you operating as?

Question 2: What is your business name?

Question 3: What is your ABN number?

Question 4: What is your relevant trade qualification?

TASK 2: LICENCES

Question 1: Give an example of what documentation/qualifications are required.

Question 2: Applicants are required to show financial information that meets QBCC's what?

Question 3: What certified proof of identity is acceptable?

Question 4: If contracting under a trading name, what do applicants need to provide?

Question 5: If contracting under a partnership, applicants will need to provide proof of business partnership or an original or certified copy of what?

Question 6: What is the unit code or title of the short course you will need to complete?

TASK 3: BUSINESS RISK STRATEGY

Complete the following table by ticking the box that best describes your response to the risk and provide a written answer for your strategy.

An example has been provided for the first risk.

EXAMPLE: What insurance and strategies are necessary in situations where a fire may occur at your workplace, damaging equipment and impacting your business? (Provide 1 insurance and 2 strategies)

1) What insurance & strategies are necessary in situations where illness to yourself may occur and stop you working for a period of time? (Provide 1 insurance and at least 2 proactive strategies to reduce likelihood and impact of illness)

2) What insurance & strategies are necessary in situations where injury may occur to a member of the public connected with one of your jobs? (1 insurance and a minimum of 2 proactive strategies to prevent likelihood and impact of public interactions)

3) What proactive measures could you put in place to avoid customers not paying in a timely manner or not paying at all? (Please provide at least 3 measures to prevent non-payment)

4) What proactive measures could you put in place to avoid loss of tools, ute theft or damage? (Please provide at least 3 measures)

TASK 4: WORK HEALTH & SAFETY

Please choose a high-risk activity for working at heights and complete the SWMS below, including the organisation details. It is up to you to choose the activity and this can be one you commonly perform in your own work industry.

To help supervisors, workers and any other persons at the workplace understand the requirements that have been established to carry out high-risk construction work in a safe and healthy manner.

1. Describe the activity or task to be undertaken
2. Identify the resources, manpower and skills associated with the task
3. Assess and select control measures (as appropriate)
4. Plan systematically the activity so it can be completed efficiently and effectively

TASK 5: FINANCIALS

As a sub-contractor, using a Cash Flow budget to monitor money flowing in and out of your account is an essential part of running your small business. It will help you forecast the overall financial health of your business, as well as assist in completing your regular Business Activity Statement (BAS) for your tax return.

Using the figures provided in the Cash Flow below, complete the questions and quarterly BAS form on the following page for October, November & December.

The Cash Flow contains instructions on where to write figures into the BAS. Section 9 on the BAS requires a total figure. This amount will be money owed to you by the tax office, or money you need to pay the tax office. You will need to calculate this yourself.

Part 3

Third Party Report

The use of third-party evidence is a valuable strategy for collecting, supplementary evidence of your ‘everyday performance’ rather than performance carried out as part of the formal assessment process.

Third-party evidence is evidence usually gathered from workplace supervisors and can form part of the evidence which is used by an assessor to assess a student’s competency in the relevant units of competency.

Third party evidence is not used as standalone evidence. It needs to be supported by other evidence such as assessor observations, questioning and project activity.
Your assessor will tell you the best time to arrange for your workplace supervisor to complete the Third-Party report.

When completed Third-Party Report is received your assessor will contact the author of the report for clarification and further information required.
The Third-Party Report Form which appears in Appendix 1 is to be completed by a workplace supervisor, instructions to your supervisor are included on the form.

Part 4

Competency Conversation

A ‘Competency Conversation’ is designed to confirm through open-ended questions, how you have applied your knowledge and skills related to the evidence you have provided.
Your trainer will utilise verbal questioning and consider your responses to confirm your ability to consistently identify correctly interpret and apply the required knowledge for this unit of competency, in a workplace setting.

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