Interpret current affairs related to a specific business sector
ID: 14665
NQF Level: NQF Level 03
Field: Field 003 – Business, Commerce and Management Studies
Credits: 10
PURPOSE OF THE UNIT STANDARD
This unit standard is intended to promote general knowledge and understanding of current affairs in a business environment in order to ensure knowledgeable and informed workers in South Africa. It is concerned with how businesses function and interact with their environments within the South African context. Practical competence includes significant choice and a wide range of contexts.
The qualifying learner is capable of
- Explaining the concept of business environments.
- Interpreting events in the physical, socio-political and economic, technological and institutional environments that impact on a business sector.
- Comparing information about the same event from two sources.
- Accessing information from a variety of media.
LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING
There is open access to this unit standard. Learners should be competent in Communication and Mathematical Literacy at NQF Level 2.
UNIT STANDARD RANGE
The typical scope of this unit standard is:
News from a daily or weekly newspaper, television or radio newscast or other news medium. Learners are not expected to access information from dedicated financial newspapers or journals.
Specific Outcomes and Assessment Criteria:
SPECIFIC OUTCOME 1
Explain the concept of business environments
ASSESSMENT CRITERIA
ASSESSMENT CRITERION 1
1. The macro environment in which a business operates is described and an indication is given of the opportunities and challenges that are created by the interaction of the macro environment with management functions.
ASSESSMENT CRITERION 2
2. The market environment in which a business operates is described and an indication is given of the opportunities and challenges that are created by the interaction of the market environment with management functions.
ASSESSMENT CRITERION 3
3. The micro environment in which a business operates is described and an indication is given of the opportunities and challenges that are created by the interaction of the micro environment with management functions.
ASSESSMENT CRITERION 4
4. Ways in which a business organisation interacts with its environment are explained and an indication is given of how business environments influence business decisions.
SPECIFIC OUTCOME 2
Interpret information about events in the physical environment that could impact on a business.
OUTCOME NOTES
Interpret information about events in the physical environment that could impact on a specific business sector.
OUTCOME RANGE
Includes but is not restricted to natural resources, scenic beauty, infrastructure, and natural disasters.
ASSESSMENT CRITERIA
ASSESSMENT CRITERION 1
1. Current events in the physical environment are interpreted and an indication is given of how these events affect the materials a business uses, where businesses operate and how products are distributed.
ASSESSMENT CRITERION 2
2. Information relating to current events in the physical environment is collected and organised to allow for comparison.
ASSESSMENT CRITERION 3
3. Similar events in the physical environment are compared in terms of severity of impact on a selected type of business.
ASSESSMENT CRITERION 4
4. Opportunities for business that are provided by the physical environment are interpreted for a specific line of business.
ASSESSMENT CRITERION 5
5. Threats posed by the physical environment on the ability of a business to achieve its main goals are interpreted for a specific line of business.
ASSESSMENT CRITERION 6
6. Reports on the same event in the physical environment from the main section and the business section of a daily or weekly newspaper or any other relevant medium of communication are compared and the differences between the reports are tabulated.
SPECIFIC OUTCOME 3
Identify events in the socio-political environment that could impact on a specific business sector
OUTCOME RANGE
Includes but is not restricted to elections, legislation, trends in public opinion, diseases, pandemics, war, riots and other socio political events or disasters.
ASSESSMENT CRITERIA
ASSESSMENT CRITERION 1
1. Current events in the socio-political environment are interpreted and an indication is given of their possible impact on a selected business sector.
ASSESSMENT CRITERION 2
2. Information relating to current events in the socio-political environment is collected and organised to allow for comparison.
ASSESSMENT CRITERION 3
3. Changes in society that impact on a business environment are identified from reports in the news.
ASSESSMENT CRITERION 4
4. The influence of legislation and regulations on labour dynamics is interpreted for a specific business.
ASSESSMENT CRITERION 5
5. Political changes that could affect the economy are interpreted for a specific line of business.
ASSESSMENT CRITERION 6
6. Responses of business management to changes in the socio political environment reported in the media are interpreted with reference to the size of the population and the potential impact on business, labour, human resources, markets and productivity.
ASSESSMENT CRITERION 7
7. Reports on the same event in the socio-political environment from the main section and the business section of a daily or weekly newspaper or any other relevant medium of communication are compared and the differences between the reports are tabulated.
SPECIFIC OUTCOME 4
Identify events in the economic environment that could impact on a specific business sector.
OUTCOME RANGE
Includes but is not restricted to customer income, productivity, inflation, level of employment, and economic growth.
ASSESSMENT CRITERIA
ASSESSMENT CRITERION 1
1. Current events in the economic environment are interpreted and an indication is given of their possible impact on a selected business sector.
ASSESSMENT CRITERION 2
2. Information relating to current events in the economic environment and inflation is collected and organised to allow for comparison.
ASSESSMENT CRITERION 3
3. Similar events in the economic environment are compared in terms of severity of impact on a specific line of business.
ASSESSMENT CRITERION 4
4. The concept of inflation is explained with reference to the effect of inflation on costs of goods and services and the value of the Rand in real terms.
ASSESSMENT CRITERION 5
5. Reports on the same event in the economic environment from the main section and the business section of a daily or weekly newspaper or any other relevant medium of communication are compared and the differences between the reports are tabulated.
SPECIFIC OUTCOME 5
Identify events in the technological and institutional environment.
OUTCOME NOTES
Identify events in the technological and institutional environment that could impact on a business sector.
OUTCOME RANGE
Local authorities, regional authorities, central government, the state as a provider of goods and services and innovations in technology.
ASSESSMENT CRITERIA
ASSESSMENT CRITERION 1
1. Opportunities for business as a result of technological innovations or institutional changes are identified for a specific business sector.
ASSESSMENT CRITERION 2
2. Threats to business as a result of technological innovations or institutional changes are identified for a specific business sector.
ASSESSMENT CRITERION 3
3. Current events in the technological or institutional environment are interpreted and an indication is given of their possible impact on a selected business sector.
ASSESSMENT CRITERION 4
4. Information relating to current events in the technological or institutional environment is collected and organised to allow for comparison.
ASSESSMENT CRITERION 5
5. Reports on the same event in the socio-political environment from the main section and the business section of a daily or weekly newspaper or any other relevant medium of communication are compared and the differences between the reports are tabulated.
UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS
- Assessment of this Unit Standard should be contextual and practical.
- Assessors must be registered as an assessor with the Services ETQA or an ETQA that represents the sectors in which the learner is employed.
- Moderators must be registered as assessors with the Services ETQA, or with an ETQA that has a Memorandum of Understanding with the Services ETQA.
- The mechanisms and requirements for moderation should be applied in accordance with the requirements of the relevant ETQA.
- Assessment should include both formative and summative assessment.
- Training providers must be accredited by the Services ETQA or with an ETQA that has a Memorandum of Understanding with the Services ETQA.
Critical Cross-field Outcomes (CCFO):
UNIT STANDARD CCFO IDENTIFYING
Learners are able to explore a variety of strategies of learning when gathering information from a broad spectrum of media.
UNIT STANDARD CCFO COLLECTING
Learners can collect, organise and evaluate information when researching and interpreting current affairs and indicating the possible impact of current events on a specific business or business sector.
UNIT STANDARD CCFO COMMUNICATING
Learners can communicate effectively using visual, mathematics and language skills when presenting the findings of their research.
UNIT STANDARD CCFO DEMONSTRATING
Learners are able to demonstrate an understanding of the world as a set of related systems when comparing and interpreting socio-political, economic, technological, institutional and physical and their effect on a selected business sector.
QUALIFICATIONS UTILISING THIS UNIT STANDARD:
| ID | QUALIFICATION TITLE | PRE-2009 NQF LEVEL | NQF LEVEL | STATUS | END DATE | QUALITY ASSURING BODY | |
| Core | 48494 | National Certificate: Financial Services Management | Level 3 | NQF Level 03 | Passed the End Date – Status was “Reregistered” |
2012-06-30 | INSETA |
| Core | 83946 | National Certificate: Management | Level 3 | NQF Level 03 | Reregistered | 2015-06-30 | As per Learning Programmes recorded against this Qual |
| Elective | 20184 | National Certificate: Banking | Level 3 | NQF Level 03 | Reregistered | 2015-06-30 | BANKSETA |
| Elective | 65409 | National Certificate: Building and Civil Construction | Level 3 | NQF Level 03 | Reregistered | 2015-06-30 | CETA |
| Elective | 74189 | National Certificate: Cereals, Snacks, Pasta and Condiments Manufacturing | Level 3 | NQF Level 03 | Reregistered | 2015-06-30 | FOODBEV |
| Elective | 57694 | National Certificate: Food and Beverage Packaging Operations | Level 3 | NQF Level 03 | Reregistered | 2015-06-30 | FOODBEV |
| Elective | 59386 | National Certificate: Fresh Meat Processing | Level 3 | NQF Level 03 | Reregistered | 2015-06-30 | FOODBEV |
| Elective | 57880 | National Certificate: Meat Processing | Level 3 | NQF Level 03 | Reregistered | 2015-06-30 | FOODBEV |
| Elective | 63929 | National Certificate: Spirits Production | Level 3 | NQF Level 03 | Reregistered | 2015-06-30 | FOODBEV |
| Elective | 63869 | National Certificate: Winemaking | Level 3 | NQF Level 03 | Reregistered | 2015-06-30 | FOODBEV |
| Elective | 48960 | Further Education and Training Certificate: Social Security Administration | Level 4 | NQF Level 04 | Reregistered | 2015-06-30 | HW SETA |