Economics and business / Year 9 / Economics and Business Knowledge and Understanding

Version 8
Switch to version 9
View on Australian Curriculum website Australian Curriculum, Assessment and Reporting Authority
Curriculum content descriptions

The nature of innovation and how and why businesses seek to create and maintain a competitive advantage in the market, including the global market (ACHEK041)

Elaborations
  • identifying the reasons businesses seek to build or create a competitive advantage (for example, to meet the changing demands of a competitive global market and improve their profit margins)
  • investigating the different strategies businesses use to create competitive advantage (for example, research and development, offering a lower-cost product, or by implementing efficient internal operations strategies)
  • discussing whether the adoption of strategies based around corporate social responsibility can increase the competitive advantage of businesses
  • exploring emerging techniques businesses can use to gain an advantage, such as blended marketing, open innovation and use of social media
General capabilities
  • Critical and creative thinking Critical and creative thinking
  • Ethical understanding Ethical understanding
ScOT terms

Globalisation,  Competitive advantage

Refine by resource type

    Refine by year level


      Refine by learning area


        Refine by topic

        Related topic
        • No suggestions

        1 direct match to ACHEK041 | 1 other related resources

        Text

        The Conversation: innovation

        • TLF-IDM020905

        A series of articles exploring the concept of innovation, including how governments can promote innovation, investment, science, and technology. The articles are authored by experts from universities in Australia and around the world. The collection is regularly updated with new contributions.The articles are clearly written ...

        View detailsView resource
        Online

        The Conversation: climate change

        • TLF-IDM021557

        This resource consists of a series of articles that examine the issue of climate change including explanations of the science, the solutions and the political, social, economic impact that impact climate change has had on the International community and Australia. It can be used to provide examples of discussions in Australia ...

        View detailsView resource