Business Management
Unit 1 & 2
Course Description
VCE Business Management examines the ways businesses manage resources to achieve objectives. Students will learn about the process from the first idea for a business concept, to planning and establishing a business, through to the day-to-day management of a business. It also considers changes that need to be made to ensure continued success of a business.
Unit 1: Planning a business
Taking a business idea and planning how to make it a reality are the cornerstones of economic and social development. In this unit students explore the factors affecting business ideas and the internal and external environments within which businesses operate, and the effect of these on planning a business.
Outcomes - On completion of this unit students will be able to:
describe how and why business ideas are created and developed, and explain the methods by which a culture of business innovation and entrepreneurship may be fostered in a nation.
describe the external environment of a business and explain how the macro and operating factors within it may affect business planning.
describe the internal business environment and analyse how factors from within it may affect business planning.
Assessment Tasks
Case Study Analysis (The business idea)
Case Study Analysis (The external environment)
Business Plan Assessment (The internal environment)
Unit Exam
Unit 2: Establishing a business
In this unit students examine the legal requirements that must be satisfied to establish a business. They investigate the essential features of effective marketing and consider the best way to meet the needs of the business in terms of staffing and financial record keeping. Students analyse various management practices in this area by applying this knowledge to contemporary business case studies from the past four years.
Outcomes - On completion of this unit students will be able to:
explain the importance when establishing a business of complying with legal requirements and financial record keeping, and establishing effective policies and procedures.
explain the importance of establishing a customer base and a marketing presence to achieve the objectives of the business, analyse effective marketing and public relations strategies and apply these strategies to business-related case studies.
discuss the staffing needs for a business and evaluate the benefits and limitations of management strategies in this area from both an employer and an employee perspective.
Assessment Tasks
Case Studies Analysis (Legal requirements for business)
Case Studies Analysis (Marketing a business)
Case Studies Analysis (Staffing a business)
Unit Exam
Textbook requirements:
Included in School Bundle
Resources/Requirements:
School laptop provided in School Bundle
A4 Exercise Book & pens
Additional Costs:
Career Pathways
What Courses/Careers this could lead to:
Accountant, Business analyst, Financial planner, Human resources, International, trade/business consultant, Management