students are required to develop and outline a business structure for the proposed business, taking account of regulatory and legal requirements and potential business growth. (1500 words). Your analysis should aim to address the following key questions: Why is the Government considering action? (problem analysis) Which outcomes is the Government aiming to achieve? (objectives for action) What are the possible different courses of action that could be taken? (identify feasible options) What are the expected impacts (benefits and costs) of options and what is the preferred option? (impact analysis) What are the characteristics of the preferred option, including small business and competition impacts? (summarise the preferred option) How will the preferred option be put into place? (implementation plan) When (and how) will the Government evaluate the effectiveness of the preferred option in meeting the objectives? (evaluation strategy) All regulation has an impact on society, both financial and non-financial. Legislation should be viewed as a last resort when all alternative options are ineffective, inefficient and/or have greater impacts on society. What are those impacts?