Business Management Units 1 & 2
In contemporary Australian society, there is a wide variety of business organisations in terms of size, ownership, objectives, resources and location. These organisations are managed by people who establish systems and processes to achieve a range of objectives.
VCE 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 complexity, challenges and rewards that come from business management and gain an insight into the various ways resources can be managed in small, medium and large-scale organisations.
The study recognises that there is a range of management theories. In each unit students examine some of these theories and, through exposure to real business scenarios and direct contact with business, compare them with management in practice.
In studying VCE Business Management, students develop knowledge and skills that enhance their confidence and ability to participate effectively, as socially responsible and ethical members of the business community, and as informed citizens, consumers and investors.
Unit 1: Small business management
Small rather than large businesses make up the large majority of all businesses in the Australian economy. It is the small business sector that provides a wide variety of goods and services for both consumers and industries, such as manufacturing, construction and retail. This, combined with employment opportunities, makes the small business sector a vital component in the success, growth and stability of Australia. Small businesses are tangible to students as they are visible and accessible in daily life. This unit provides an opportunity for students to explore the operations of a small business and its likelihood of success.
On completion of this unit the student should be able to explain a set of generic business characteristics and apply them to a range of businesses.
On completion of this unit the student should be able to apply decision-making and planning skills to establish and operate a small business, and evaluate the management of an ethical and a socially responsible small business.
On completion of this unit the student should be able to discuss one or more of the day-to-day operations associated with an ethical and a socially responsible small business, and apply the operation/s to a business situation.
Unit 2: Communication and management
This unit focuses on the importance of effective communication in achieving business objectives. Students investigate communication both internal and external to the business. They develop knowledge of aspects of business communication and are introduced to skills related to its effective use in different contexts. The vital functions of marketing and public relations are considered, with students developing an understanding of the important role these functions play in the ultimate success of a business.
On completion of this unit the student should be able to explain, apply and justify a range of effective communication methods used in business-related situations.
On completion of this unit the student should be able to analyse effective marketing strategies and processes and apply these strategies and processes to business-related situations.
On completion of this unit the student should be able to apply public relations strategies to business-related situations and analyse their effectiveness.
Demonstrated achievement of the set of outcomes specified for the unit.