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 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.
Area of Study 1: Business foundations
This area of study introduces students to the key characteristics of businesses and their stakeholders. They investigate potential conflicts between and the different demands of stakeholders on a business, and examine a range of management styles and management skills that may be used when managing a business.
Area of Study 2: Managing employees
In this area of study students investigate essential factors such as motivation and training involved in effectively managing employees during their time at a business to ensure the business objectives are achieved.
Area of Study 3: Operations management
In this area of study students examine operations management and consider the best and most responsible use of available resources for the production of a quality final good or service in a competitive, global environment.
Businesses are under constant pressure to adapt and change to meet their objectives. 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.
Area of Study 1: Reviewing performance - the need for change
In this area of study students develop their understanding of the need for change. Students investigate the ways a business can search for new business opportunities as a source of future business growth and consider current forces for change on a business. They apply Lewin’s Force Field Analysis theory to contemporary case studies and consider approaches to strategic management, using Porter’s (1985) Generic Strategies.
Area of Study 2: Implementing change
In this area of study students explore how businesses respond to evaluation data. Students consider the importance of leadership in change management, how leaders can inspire change and the effect change can have on the stakeholders in a business. They consider the principles of Senge’s Learning Organisation and apply the Three Step Change Model (Lewin) in implementing change in a business.
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 Unit 3 & 4 VCE Business Management, you would benefit from having satisfactorily completed Year 11 Business Management and demonstrated sufficient competency in all skill areas, or be prepared to complete catch-up work. You must undertake Unit 3 prior to undertaking Unit 4.
Textbook: Cambridge VCE Business Management 3 & 4. (refer to booklist)
A4 Excercise book
Ms Burton, Ms Groves