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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Demonstrate insight into current global events and their potential impact on a business sector in South Africa 
SAQA US ID UNIT STANDARD TITLE
230072  Demonstrate insight into current global events and their potential impact on a business sector in South Africa 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 6  Level TBA: Pre-2009 was L6  10 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
14553  Demonstrate insight into current global events and their potential impact on the financial services sector in South Africa  Level 6  Level TBA: Pre-2009 was L6  10  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended to promote an in depth knowledge and understanding of current affairs in a business sector in order to ensure knowledgeable and informed workers. It requires application of knowledge of the macro environment and the analysis and interpretation of current affairs as they could impact on a selected business sector. It provides an opportunity for the learner to integrate theory and practice and to engage in thinking processes at a high level. It is intended that this Unit Standard should be based on events as they happen and the Unit Standard is therefore not intended for the application of RPL. The focus is on prediction and anticipation of events rather than on historical research after the event. Portfolio assessment over a period of at least six months is required.

The qualifying learner is capable of:
  • Using current events to illustrate how local and global legislation, codes and agreements can impact on a specific business sector.
  • Applying knowledge of basic economics to interpret current events in the macro and micro environment.
  • Using current events to illustrate how global political aspects impact on a business sector.
  • Tracing the sequence in a series of events to illustrate interrelationships and consequences in a business sector.
  • Predicting possible outcomes of current events on a business sector. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at NQF Level 4. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Articles from business and professional journals and publications, news from printed or electronic media.
  • The macro environment includes the international social, political, economic and natural environments.
  • The micro environment includes the social, political, economic and natural environments in a South African context.
  • A core event is one that has major implications for a sector. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Use current events to illustrate how local and global legislation, codes and agreements can impact on a specific business sector. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Knowledge of South African legislation, codes, charters and agreements is applied to current events and an explanation is offered as to how these will/will not impact on a selected business sector. 

    ASSESSMENT CRITERION 2 
    Global corporate events or trends are analysed in the light of international agreements and accords and an indication is given of how these influence the selected business sector. 

    ASSESSMENT CRITERION 3 
    Reports indicating trends in legislation in different countries are compared to the South African situation and inferences are made as to how international trends could possibly influence South African legislation. 

    ASSESSMENT CRITERION 4 
    A high level regulatory risk profile is compiled for a specific business sector based on local and international current events. 

    SPECIFIC OUTCOME 2 
    Apply knowledge of basic economics to interpret current events in the macro and micro environment. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The effects of different events are interpreted with reference to their impact on all sectors of the micro economic environment. 

    ASSESSMENT CRITERION 2 
    The relationship between the South African National Budget and local and global current events is explained with reference to the impact of a specific event on the current budget. 

    ASSESSMENT CRITERION 3 
    Reasons why a specific news report has been published and the author's intention and position are inferred and substantiated for a selected event. 

    SPECIFIC OUTCOME 3 
    Use current events to illustrate how global political aspects impact on a business sector. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Global political situations are analysed and the effects on a sector market are explained for different events. 

    ASSESSMENT CRITERION 2 
    The impact of global political events on the South African economy is explained with examples from a selected business sector. 

    SPECIFIC OUTCOME 4 
    Trace the sequence in a series of events to illustrate interrelationships and consequences in a business sector. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A recent core event that has impacted on a situation in South Africa is identified for a specific business sector. 

    ASSESSMENT CRITERION 2 
    A probable sequence of events leading up to the core event is traced and substantiated with reference to the impact of the events on a specific business sector. 

    SPECIFIC OUTCOME 5 
    Predict possible outcomes of current events on a business sector. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Different business models are researched as a way of explaining the potential effect of an event on a sector. 

    ASSESSMENT CRITERION 2 
    A selected model is used to interpret a current event and to simulate the potential effect on a business sector. 

    ASSESSMENT CRITERION 3 
    A possible plan of action is proposed that will minimise downside and optimise upside risk in a specific situation. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learners is able to identify and solve problems in which responses show that responsible decisions using critical and creative thinking have been made in proposing a plan of action to deal with risk in a specific situation and in analysing and interpreting effects and consequences of current events on a business sector. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise and manage him/herself and his/her activities responsibly and effectively in collecting and organising a portfolio of evidence for the assessment of this Unit Standard. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and evaluate information when researching and interpreting current affairs and indicating the possible impact of current events on a business sector. 

    UNIT STANDARD CCFO COMMUNICATING 
  • The learner is able to communicate effectively using visual, mathematics and language skills when presenting the findings of his/her research.
  • The learner is able to communicate effectively using visual, mathematics and language skills in the modes of oral and/or written presentations in when presenting the findings of his/her research. 

  • UNIT STANDARD CCFO SCIENCE 
    The learner is able to use science and technology effectively and critically showing responsibility towards the environment and the health of others in accessing information from electronic media to support an argument. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the world as a set of related systems when analysing, comparing and interpreting events and their impact on a business sector. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    This unit standard replaces unit standard 14553, " Demonstrate insight into current global events and their potential impact on the financial services sector in South Africa ", Level 6, 10 credits.

    Assessment
  • Portfolio assessment over a period of six months is required for this Unit Standard.

    Search words:
  • News. Current events, current affairs. 

  • QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  57918   National Certificate: Short Term Insurance  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  INSETA 
    Elective  63909   National Certificate: Business Analysis  Level 6  Level TBA: Pre-2009 was L6  Reregistered  2023-06-30  MICTS 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. African Resources & Financial Training (Pty) Ltd 
    2. Faculty Training Institute (Pty) Ltd 
    3. Invuya Institute of Learning (Pty) Ltd 
    4. Masifunde Training Centre (Pty) Ltd 
    5. Ripple Effect 4 (Pty) Ltd 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.