VCE | BUSINESS MANAGEMENT

VCE Business Management examines the ways businesses manage resources to achieve their objectives. Contemporary businesses are studied from the initial business idea, to planning and establishment, through to the day-to-day operations. Students develop an understanding of the complexity of the challenges facing decisionmakers and consider changes that need to be made to ensure the continued success of a business.

YEAR 10* or 11

UNIT 1 - Planning a business

This unit examines how and why businesses are created. Students develop an understanding of the personal motivations behind starting a business, and the characteristics of successful managers and entrepreneurs. They gain an appreciation for the process of starting a business, including formulating a business idea, developing a business concept, conducting market research and an initial feasibility study. Students also consider how factors from the internal and external environment can impact a business. They learn about the decisions required for factors within their control, such as location, ownership structure and finance, and they also consider the need to react to factors outside of their control, such as the economy, technological developments and legal requirements.

UNIT 2 - Establishing a business

This unit focuses on the key aspects of setting up a business, development of a strong market presence and finding and keeping the best staff for your business. Students will study the key legal requirements and financial record-keeping considerations when establishing a business, and explain the importance of establishing effective policies and procedures. They will learn how to identify the needs of the target market and create a brand presence through consideration of the 7Ps of marketing. Students will also consider staffing requirements to meet the needs of a business and the processes of recruitment, selection and induction of staff.

Students progress from studying small businesses through to studying some of Australia’s largest corporations. At various times they will analyse the role of the small business owner, project manager, human resource manager, operations manager or executive manager.

YEAR 11* or 12

UNIT 3 - Managing a business

In this unit, students explore the key considerations for managing a business in order to achieve business objectives. They will learn about the key characteristics of stakeholders and how to manage their conflicting requirements. Students will also examine corporate culture and the appropriate use of a range of management styles and management skills.

Effective management of employees is analysed as students develop a range of motivation strategies through the application of key motivational theories. Students also study workplace relations, including the main participants and their roles. Operations management is studied with the aim of maximising the efficiency and effectiveness of the production process while also considering the responsible use of resources.

UNIT 4 - Transforming a business

Businesses are under constant pressure to adapt and change to remain successful. In this unit, students consider the importance of reviewing key performance indicators to evaluate the need for change and to assist in decision making. They apply Lewin’s Force Field Analysis to the change process and use Porter’s Generic Strategies to help set the strategic direction of the business.

Students also learn how to implement change. They consider the importance of leadership in the change process and apply the principles of Senge’s Learning Organisation to contemporary case studies. Students learn to apply the Three-step Change Model (Lewin) in implementing change and consider how corporate social responsibility can be incorporated into the change process.

* Acceleration is possible in this subject.

See page 13 for information on acceleration.