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, managers and leaders of the business community, and as informed citizens, consumers and investors. The study of Business Management leads to opportunities across all facets of the business and management field such as small business owner, project manager, human resource manager, operations manager or executive manager. Further study can lead to specialisation in areas such as marketing, public relations and event management.
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.
Area of Study 1: The business idea
In this area of study students investigate how business ideas are created and how conditions can be fostered for new business ideas to emerge.
Area of Study 2: External environment
In this area of study, students consider factors from the external environment such as legal, political, social, economic, technological, global and corporate social responsibility factors and the effects these may have on the decisions made when planning a business.
Area of Study 3: Internal environment
In this area of study, students explore the factors within the internal environment and consider how planning decisions may have an effect on the ultimate success of 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.
Area of Study 1: Legal requirements and financial considerations
In this area of study students are introduced to the legal requirements and financial considerations that are vital to establishing a business. They also consider the implications for the business if these requirements are not met.
Area of Study 2: Marketing a business
In this area of study students develop their understanding that marketing encompasses a wide range of management practices, from identifying the needs of the target market and establishing a brand presence, through to considerations on price, product features and packaging, promotion, place, people, physical evidence and processes. They also consider effective public relations strategies and the benefits and costs these can bring to a business.
Area of Study 3: Staffing a business
In this area of study students examine the staffing requirements that will meet the needs and objectives of the business and contribute to productivity and effectiveness.
Accounting, advertising, administration, banking, managing, economist, finance, human resources, imports and exports, industrial relations, investments, logistics officer, market research, research, public relations, real estate, small business, publisher, retail, sports administrator, stock broker, taxation agent, trade union official, treasurer, (among others).
Before undertaking VCE Business Management, you would benefit from having satisfactorily completed Year 10 Business, Accoutning and Law.
Textbook, Business Management: Cambridge VCE Business Management 1&2
A4 Exercise book