4.1 Opportunities
Topic
How opportunities arise, including:
• changing needs or wants for a product or service
• change in the ability to meet needs or wants
• advances in technology
• changes in government policy.
4.2 Risk
Topic
Risks involved in enterprise
Identify risks
Analyse the implications of each risk
Decide if the risk is worth taking or not
Plan how to manage the risks
Attitudes to risk
4.3 Legal obligations
Why laws and regulations to protect stakeholders are
needed in the areas of:
• employment
• production
• marketing and selling
• finance.
The impact of laws and regulations on all
stakeholders in these areas
4.4 Ethical considerations
Topic
How an enterprise may have an impact on
communities and society
Ethical considerations within enterprise (i.e. choosing
to run an enterprise following moral values and
beliefs)
The impact of ethical considerations on the operation
of an enterprise
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