BSBSMB401- Establish Legal and Risk Management
Task
1. Identify and research possible option or the business legal structure using appropriate sources.
The learner should be able to demonstrate how to, for example:
➢ The ability to identify business legal structures
➢ The ability to conduct research to identify appropriate business legal structures
➢ The ability to identify appropriate sources of advice.
2. Determine legislation and regulatory requirements affecting operations of the business under its chosen structure.
The learner should be able to demonstrate how to, for example:
➢ The ability to conduct research to determine legislative and regulatory requirements
➢ The ability to identify legislative and regulatory requirements that would affect the learner’s business
➢ An understanding of how legislative and regulatory requirements impact business operations.
3. Develop and implement procedures to ensure full compliance with relevant legislation and regulatory requirements.
The learner should be able to demonstrate how to, for example:
➢ An understanding of what compliance is
➢ Knowledge of what to consider when developing a compliance procedure
➢ The ability to conduct research and identify legislative or regulatory requirements
➢ The ability to develop a compliance procedure.
4. 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.
The learner should be able to demonstrate how to, for example:
➢ An understanding of the methods available to use to ensure compliance
➢ The ability to identify the legal rights and responsibilities in relation to the following requirements:
o Work Health and Safety (WHS)
o business registration
o environmental requirements
o cultural appropriate processes
o marketing the business in accordance with consumer legislation.
5. Identify taxation principles and requirements relevant to the business, and follow procedures to ensure compliance.
The learner should be able to demonstrate how to, for example:
➢ An understanding of when a business needs to be registered
➢ An understanding of how to make an application to legally register a business
➢ Knowledge of further tax registrations.
6. Identify and carefully maintain legal documents and maintain and update relevant records to ensure their ongoing security and accessibility.
The learner should be able to demonstrate how to, for example:
➢ The ability to identify legal documents and relevant records
➢ The ability to outline the process used to maintain legal documents and maintain and update relevant records.
7. Monitor provision of products and services of the business to protect legal rights and to comply with legal responsibilities.
The learner should be able to demonstrate how to, for example:
➢ Knowledge of how the Competition and Consumer Act affects business operations
➢ An understanding of how to establish a breach of a duty of care
➢ The ability to identify where a duty of care is owed in relation to the learner’s business.
8. Conduct investigations to identify areas of non-compliance with legal and regulatory requirements, and take corrective action where necessary.
The learner should be able to demonstrate how to, for example:
➢ The ability to conduct research to identify areas of non-compliance in the learner’s
business
➢ The ability to identify key principles that would be used when carrying out a workplace
investigation
➢ The ability to create and complete a risk assessment matrix.
➢ An understanding of how to take corrective action to correct an issue of non- compliance.
9. Seek legal advice on contractual rights and obligations, if required, to clarify business liabilities.
The learner should be able to demonstrate how to, for example:
➢ The ability to identify a legally binding contract relevant to the learner’s business
➢ An understanding of how a contract is created and when a contract can be void
➢ An understanding of rights and obligations created in a contract
➢ The ability to seek legal advice to clarify business liabilities.
10. Investigate and assess potential products and services to determine procurement rights and ensure protection of business interests where applicable.
The learner should be able to demonstrate how to, for example:
➢ An understanding of what procurement rights are
➢ The ability to identify goods or services that may need to be negotiated
➢ The ability to consider the best interests of the business.
11. Negotiate and secure contractual procurement rights for goods and services including contracts with relevant people, as required, in accordance with the business plan.
The learner should be able to demonstrate how to, for example:
➢ The ability to identify goods or services that may need to be negotiated
➢ The ability to identify rights that would need to be secured when negotiating
➢ An understanding of the relevant people the learner may contract with
➢ Knowledge of the best practices to use when negotiating.
