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BSBESB301 Task 2 Knowledge Questions V1.1222 Fillable

This document contains knowledge questions for a student to answer as part of the assessment for BSBESB301 Investigate business opportunities. The questions cover topics such as sources of business information, market trends, legislative requirements, analyzing market knowledge, evaluating the viability of opportunities, and considering ethical and cultural factors. The student is asked to complete all questions, save, and submit the document for grading.

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thiagowilkos
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136 views5 pages

BSBESB301 Task 2 Knowledge Questions V1.1222 Fillable

This document contains knowledge questions for a student to answer as part of the assessment for BSBESB301 Investigate business opportunities. The questions cover topics such as sources of business information, market trends, legislative requirements, analyzing market knowledge, evaluating the viability of opportunities, and considering ethical and cultural factors. The student is asked to complete all questions, save, and submit the document for grading.

Uploaded by

thiagowilkos
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 5

BSBESB301 Investigate business opportunities

Task 2 – Knowledge Questions

Student ID Student Name

First Name:

Last Name:

Submitting your assessment:


Complete all questions, save, and submit this document to Moodle for grading.
Once your assessment is graded, you will receive an email notification. Check your grades and
submission feedback on Moodle.

Assessor’s acknowledgement:
Please verify each of the following principles of assessment by placing a tick in each box. Refer
to the assessor's handbook for further information if required.

Authentic: I am assured that the evidence presented for assessment is the learner’s
☐
own work
Valid: I am assured that the learner has the skills, knowledge and attributes as
☐ described in the module or unit of competency and associated assessment
requirements
Current: I am assured that the assessment evidence demonstrates current
☐ competency. This requires the assessment evidence to be from the present or the
very recent past
Sufficient: I am assured that the quality, quantity and relevance of the assessment
☐
evidence enable a judgement to be made of a learner’s competency

Greystone College Australia: BSBESB301 Task 2 Knowledge Questions Version 1.1222


Page 1 of 5
1. Describe how the following sources can provide valuable business and market information
to generate business ideas and opportunities (50-100 words each).
Sources Why they are a great source of business and market
information
Potential clients
and past leads

Competitors
activities, products
and services

2. Provide three (3) sources of information on business trends and insights that could lead to
potential opportunities.

Greystone College Australia: BSBESB301 Task 2 Knowledge Questions Version 1.1222


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3. Identify six (6) legislative and regulatory requirements you may need to consider when you
investigate business ideas and potential opportunities.

4. In the table below, explain what insights businesses can gain from market knowledge. What
will this knowledge allow them to do? Provide at least two (2) points for each area of
knowledge.
Market knowledge Allows a business to:
(information, trends and
developments)
New and emerging markets
and their features

Expected market growth or


decline and associated risk
factors

Economic activity, including


projected or potential
movements in prices

Projected changes in
availability of resources

Greystone College Australia: BSBESB301 Task 2 Knowledge Questions Version 1.1222


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5. Briefly explain how your own ambitions or dreams can affect your choice of an opportunity
(30-50 words).

6. Briefly explain how your own commitments, expectations and capabilities affect your choice
of an opportunity to pursue (40-60 words).

7. Explain how the following criteria are used to determine the viability of a business
opportunity. Provide three (3) points for each.
Criteria How does it determine the viability of a business opportunity?

Market size, potential,


needs and trends

Financial
considerations

Benefits and challenges


of digital technologies
relevant to
opportunities

Resource availability

Greystone College Australia: BSBESB301 Task 2 Knowledge Questions Version 1.1222


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8. Describe four (4) different research methods or data collection tools that can be used to
research business opportunities (20-30 words each).

9. For any new business venture, we need to consider both ethical and cultural factors. Provide
three (3) examples of each and how these factors can impact business opportunities (25-40
words).
Ethical considerations Cultural considerations

What impact do these factors have on business opportunities and products?

End of questions

Greystone College Australia: BSBESB301 Task 2 Knowledge Questions Version 1.1222


Page 5 of 5

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