VCE Units 1 & 2 - Business Management
VCE Units 1 & 2 - Business Management
Overview
Units 1 and 2 Business Management examines the ways businesses manage resources to achieve objectives, such as to make a profit or to increase market share. The key areas of focus are planning and establishing a business, along with considering the changes that need to be made to ensure continued success of a business. Students will be able to understand and apply business concepts, understand the complex and changing environments within which businesses operate, recognise the contribution and significance of business within local, national, and global markets and propose strategies to solve business problems.
Unit 1 – Planning a Business
Unit 1 Business Management examines how business ideas are formed and explores the internal and external business environment factors affecting business ideas and planning.
Areas of Study:
- The Business Idea – Investigate how business ideas are created and how conditions can be fostered for new business ideas to emerge.
- External Business Environment and Planning – Examine the factors within the external environment that may affect business planning, such as customers, societal attitudes, etc.
- Internal Business Environment and Planning – Examine the factors within the internal environment that may affect business planning, such as business models and structures.
Unit 2 – Establishing a Business
Unit 2 Business Management focuses on the establishment phase of a business.
Areas of Study:
- Legal Requirements and Financial Considerations – The importance of establishing effective policies and procedures, along with complying with legal and financial requirements.
- Marketing a Business – Importance of establishing a customer base and a marketing presence to achieve the firm’s objectives and effective marketing and public relations strategies.
- Staffing a Business – Examine the staffing needs of a business and evaluate the benefits and limitations of management strategies in this area from an employer and an employee’s perspective.
Forms of Assessment
Topic Tests, Case Studies, Business Plans, End of Semester Exam
Prerequisites and Corequisites
It would be an advantage to have studied Year 10 Business and Economics.