Business Management
Units 1-2
Businesses of all sizes are major contributors to the economic and social wellbeing of a nation. Therefore, how businesses are formed and the fostering of conditions under which new business ideas can emerge are vital for a nation’s wellbeing. Taking a business idea and planning how to make it a reality are the cornerstones of economic and social development. Unit 2 focuses on the establishment phase of a business’s life. Establishing a business involves complying with legal requirements as well as making decisions about how best to establish a system of financial record keeping, staff the business and establish a customer base.
UNIT 1
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.
LEARNING ACTIVITIES Case studies, online activities, worksheets and class discussions.
KEY SKILLS REQUIRED Awareness of current business issues, ability to draw on individual experience, application and analysis of business literature, information and case studies.
ASSESSED TASKS Topic tests, learning activities and case studies.
UNIT 2
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.
LEARNING ACTIVITIES Case studies, online activities, worksheets, class discussion and application tasks.
KEY SKILLS REQUIRED Awareness of current business issues, ability to draw on your own experience, application and analysis of business literature, information and case studies.
ASSESSED TASKS Topic tests using case study material and an end-of-year written examination.
Units 3-4
Business Management examines the ways in which people, at various levels within a business organisation, manage resources to achieve the objectives of the organisation. Students develop an understanding of the challenges, complexities and rewards that come from business management and gain an insight into the various ways resources can be managed in large-scale organisations.
UNIT 3
In this unit students explore the key processes and issues concerned with managing a business efficiently and effectively to achieve the business objectives. Students examine the different types of businesses and their respective objectives. They consider corporate culture, management styles, management skills and the relationship between each of these. Students investigate strategies to manage both staff and business operations to meet objectives.
LEARNING ACTIVITIES Case studies, online activities, worksheets and class discussions.
KEY SKILLS REQUIRED Awareness of current business issues, ability to draw on individual experience, application and analysis of business literature, information and case studies.
ASSESSED TASKS Topic tests, learning activities and case studies.
UNIT 4
In this unit students consider the importance of reviewing key performance indicators to determine current performance and the strategic management necessary to position a business for the future. Students study a theoretical model to undertake change, and consider a variety of strategies to manage change in the most efficient and effective way to improve business performance.
LEARNING ACTIVITIES Case studies, online activities, worksheets, class discussion and application tasks.
KEY SKILLS REQUIRED Awareness of current business issues, ability to draw on your own experience, application and analysis of business literature, information and case studies.
ASSESSED TASKS Topic tests using case study material and an end-of-year written examination. VCAA ASSESSMENT – The overall Study Score will consist of: School Assessed Coursework Unit 3 (25%); School Assessed Coursework Unit 4 (25%); 2 hour written examination in November (50%).