Course Title: Establish legal and risk management requirements of new business ventures
Part B: Course Detail
Teaching Period: Term1 2024
Course Code: BUSM8890C
Course Title: Establish legal and risk management requirements of new business ventures
Important Information:
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
School: 525T Business & Enterprise
Campus: City Campus
Program: C4421 - Certificate IV in Entrepreneurship and New Business
Course Contact: Theresa Lyford
Course Contact Phone: +61 3 9925 5444
Course Contact Email: theresa.lyford@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Sukant Arora
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
Nil
Course Description
This unit describes the skills and knowledge required to identify and comply with legal and risk management requirements of the business or new business venture, including negotiating, creating and planning for legal contracts used within the business, where required.
The unit applies to those establishing a business providing self-employment, as well as those establishing a new venture as part of a larger organisation.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBESB402 Establish legal and risk management requirements of new business ventures |
Element: |
1.Identify legal and risk management requirements relating to business |
Performance Criteria: |
1.1 Identify legal structure of business using reliable sources 1.2 Identify legislative and regulatory requirements applicable to identified legal structure 1.3 Analyse identified requirements and their relationship to business and workplace practices and processes |
Element: |
2.Implement procedures and processes to comply with legislative and regulatory requirements |
Performance Criteria: |
3.1 Assess products and/or services to determine procurement rights and ensure protection of business interests 3.2 Negotiate and secure contractual procurement rights for goods and/or services as required and according to business plan and workplace procedures 3.3 Complete any contractual arrangements according to workplace procedures and business plan 3.4 Seek legal advice if required to confirm contractual rights and obligations |
Element: |
3.Negociate and arrange contracts |
Performance Criteria: |
2.1 Develop and implement procedures to ensure compliance with relevant legislative and regulatory requirements 2.2 Develop and implement processes and procedures for storing and maintaining legal documents and business records 2.3 Establish systems to identify areas of non-compliance and take corrective action where necessary |
Element: |
4.Miligate business risks |
Performance Criteria: |
4.1 Analyse business activities and identify applicable risk management requirements 4.2 Assess probability and impact of identified internal and external risks to business 4.3 Develop a plan to prioritise and treat risks 4.4 Implement procedures to mitigate risks according to risk treatment plan |
Learning Outcomes
On successful completion of this course, you will have developed and applied the skills and knowledge required to demonstrate competency in the above elements.
Details of Learning Activities
This course will be delivered via our existing learning management system, Canvas.
Classes in each of your units will still take place in their normal scheduled time slots; your teacher 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.
A range of learning activities is 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 discussion threads, 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 to all scheduled learning activities.
Teaching Schedule
This course will be delivered online by accessing materials and resources here in Canvas and through online sessions that will prepare you for success in assessment tasks.
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Week 1 Module 1 |
12-18 February |
Introduction to the course
Commence Module 1 – Types of law |
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Week 2 Module 1 |
19-25 February |
Business Legal Structures Business Premises |
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Week 3 Module 1 |
26 February - 3 March |
Choosing a Business Structure Review Questions Key Learnings |
Practice Quiz Due |
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Week 4 Module 2 |
4-10 March |
Intro to Business Legislation Intellectual Property & Copyright Consumer Law & Customer Guarantees
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Week 5 Module 2 |
11-17 March |
Industrial Legislation Workplace Health & Safety Ensuring Legal Compliance |
Assessment 1 Due (Sunday 11:59 PM) |
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Week 6 Module 2 |
18-24 March |
A New Venture Review Questions Knowledge Check Activities & Key learnings
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Week 7 Module 3 |
25-31 March | Legalities of Storage and Maintenance of Information – Part 1 | |
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Mid-Semester Break 29 March - 7 April | |||
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Week 8 Module 3 |
8-14 April | Legalities of Storage and Maintenance of Information – Part 2 |
Assessment 2 Due (Sunday 11:59 PM) |
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Week 9 Module 4 |
15-21 April |
Digital Storage and Maintenance Methods and Risks of Storing & Retrieving Information Confidentiality & security Naming Conventions Review Questions & Key Learnings |
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Week 10 Module 4 |
22-28 April |
Contracts in Business Overview of Formation and Elements of Contracts Legal Advice and significance of Contracts |
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Week 11 Module 4 |
29 April - 5 May |
Offer and Acceptance Consideration Consent Capacity |
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Week 12 Module 4 |
6-12 May |
Vitiating Factors including: Mistake, Misrepresentation, Duress and Undue Influence Remedies Review Questions & Key Learnings |
Assessment 3 Due (Sunday 11:59 PM) |
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Week 13 Module 5 |
13-19 May |
Mitigation of Risks Risk Protection and Insurance Types of Business Insurance |
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Week 14 Module 5 |
20-26 May |
Develop and Implement Risk Treatment Plans Responding to Risk |
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Week 15 Module 5 |
27 May - 2 June |
Course Wrap-up Discussion and Support |
Assessment 4 Due (Sunday 11:59 PM)
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| Week 16 | 3-9 June |
Assessment resubmissions Online Discussion and Support |
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| Weeks 17 | 10-16 June | Assessment resubmissions | |
| Week 18 | 17-23 June | Grade Entry |
Learning Resources
Prescribed Texts
References
Other Resources
None
Overview of Assessment
Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral/written presentations and through the application of learned skills and insights. Full assessment briefs will be provided and can be found on CANVAS.
Assessment Tasks
Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral presentations and through the application of learned skills and insights to your written tasks. Full assessment briefs will be provided and can be found on CANVAS.
Assessment Matrix
There are a total of four assessments in this unit.
To be deemed competent in the unit, all four assessment tasks must be completed satisfactorily.
The assessments must be uploaded to Canvas in PDF / Word format by the due date/time.
Assessment Task 1 (Take home): Written Questions
Due: Week 5 Sunday, 11:59 PM
This is an open book written assessment. You must answer all questions and their parts correctly to achieve a satisfactory outcome for this task.
Assessment Task 2 (Take home): Identify and Treat Legal Risks for a Business Entity
Due: Week 8 Sunday, 11:59 PM
In this task, you must complete the following:
- Identify the legal structure of the business, the legislation for that type of business and the legal responsibilities of the business entity.
- Analyse the organisation policies and procedures and identify the legislative requirements of each. Where legislation is not referred to in the policies, recommend the policies to be updated.
- Consider the internal and external business risks, assess the consequence and likelihood of the impact of the risk on the business, prioritise the risks by severity and identify control measures to mitigate the risk. Referring to the top four priorities, develop an implementation plan to treat those risks.
Assessment Task 3 (Take home):
Due: Week 12 Sunday, 11:59 PM
In this task, you must complete the following:
- Assess a Service and Seek Legal Advice
- Negotiate and Secure a Contractual Procurement Right
- Complete Contractual Arrangements
Assessment Task 4 (Take home): Create a Contract
Due: Week 15 Sunday, 11:59 PM
This assessment aims to demonstrate students' ability to create a contract based on the given scenario and template.
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 improve and 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. The Program Team will consider your submission, 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).
Other Information
Student support
Your first point of contact for any support needs with your assessments should be your teacher and assessor. If you require further help, you should consider contacting the following support services at RMIT Student Support.
Assessment adjustments
Students requiring support or adjustments for their formal assessment tasks should contact Equitable Learning Services (ELS) for more information on the types of adjustments provided and access RMIT adjustments to assessment.
Extension of time
If you require an extension of time to submit an assessment task, you can apply for an extension of time by completing the form at this link and then emailing it together with your supporting documentary evidence to suzanne.bevacqua@rmit.edu.au who is the Program Coordinator for your course.
You will be advised of the outcome of your application within 1 business day. Please ensure you read the general information about extension applications before you apply.
Special consideration
If unexpected circumstances affect your ability to complete an assessment, you can apply for special consideration. For more information, access RMIT special consideration.
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.
CA - Competency Achieved
NYC - Not Yet Competent
DNS - Did Not Submit for assessment.
Course Overview: Access Course Overview