Level 1
Achievement standard 90837 - Business studies
1.1
Demonstrate an understanding of internal features of a small business.
This achievement standard relates to learning objective 6-1.
Students will gain knowledge, skills, and experience to:

understand how, as a result of internal and external factors, small business owners
make operational decisions that have consequences for the success of their business.
Re: Explanatory Note 2
Contexts for learning
A typical learning context is a small local business (of up to approximately 20
employees or one of local or community significance) that allows students to
demonstrate their understanding of the internal features of a small business.
Business knowledge, concepts, and content
Students are expected to demonstrate understanding of the following business
knowledge, concepts, and content:

advantages and disadvantages of ownership structure (sole trader,
partnership, registered company)

sources of finance (short term, long term, internal, external)

communication with stakeholders (importance of effective communication,
advantages and disadvantages of different methods, barriers)

employer/employee relationships (features and importance of effective
relationships)

entrepreneur (role, skills and characteristics)

business objectives (how objectives inform business operations)

business success (description, different methods of measurement, factors
affecting)

financial documents (importance of keeping financial documents such as
bank statements, Internal Revenue Department requirements)
Related Māori concepts
Māori concepts that relate to this achievement standard include:

tikanga

pūtake

tūranga

kaitiakitanga

rangatiratanga.
See also:
Glossary of Māori terms
Māori culture and values in business
Re: Explanatory Notes 3, 4 and 5
See http://seniorsecondary.tki.org.nz/index.php/Social-sciences/Businessstudies/Learning-objectives
Achievement standard 90838 - Business studies
1.2
Demonstrate an understanding of external factors influencing a small
business
This achievement standard relates to learning objective 6-1:
Students will gain knowledge, skills, and experience to:

understand how, as a result of internal and external factors, small business owners
make operational decisions that have consequences for the success of their business.
Re: Explanatory Note 2
Contexts for learning
A typical learning context is a small local business (of up to approximately 20
employees or one of local or community significance) that allows students to
demonstrate their understanding of the external factors influencing a small
business.
Business knowledge, concepts, and content
Students are expected to demonstrate understanding of the following business
knowledge, concepts, and content and may be required to provide business
response(s):

stakeholders external to the business (customers, suppliers, local
government, local community)

legal influences (purpose and impact of the Consumer Guarantees Act
1993, the Fair Trading Act 1986, the Health and Safety in Employment Act
1992)

economic influences (consumer confidence, business confidence, interest
rates)

environmental influences (factors affecting the physical environment e.g.
weather patterns, natural disasters)

competition (impact of current and potential competition)
Related Māori concepts
Māori concepts that relate to this achievement standard include:

tikanga

pūtake

tūranga

kaitiakitanga

rangatiratanga.
See also:
Glossary of Māori terms
Māori culture and values in business
Re: Explanatory Notes 3, 4 and 5
See http://seniorsecondary.tki.org.nz/index.php/Social-sciences/Businessstudies/Learning-objectives
Achievement standard 90839 - Business studies
1.3
Apply business knowledge to an operational problem(s) in a given small business
context.
This achievement standard relates to learning objective 6-1.
Students will gain knowledge, skills, and experience to:

understand how, as a result of internal and external factors, small business owners
make operational decisions that have consequences for the success of their business.
Re: Explanatory Note 2
Contexts for learning
In a given small business context, this achievement standard requires students
to discuss an operational problem, its causes and impacts, and apply business
knowledge to provide a range of possible solutions and recommendations for the
problem.
The operational problem will be a routine problem/issue affecting the business.
These include problems arising from:

recruitment of employees (poor recruitment practices, skills shortages)

cash flow (slow payers, bad debtors, low sales, credit tightening)

workplace incidents (workplace accident, workplace conflict)

marketplace changes (new competitor, negative publicity)

production disruption (natural disasters, pandemic, technology
breakdown)
Related Māori concepts
Māori concepts that relate to this achievement standard include:

tikanga

pūtake

tūranga

kaitiakitanga

rangatiratanga.
See also:
Glossary of Māori terms
Māori culture and values in business
Re: Explanatory Notes 3, 4 and 5
See http://seniorsecondary.tki.org.nz/index.php/Social-sciences/Businessstudies/Learning-objectives