Business Management
Senior Syllabus 2013
ISBN
Print version:978-1-921802-23-2
Electronic version:978-1-921802-24-9
Business Management Senior Syllabus 2013
© The State of Queensland (Queensland Studies Authority) 2013
Queensland Studies Authority
154 Melbourne Street, South Brisbane
PO Box 307Spring HillQLD4004Australia
Phone:(07) 3864 0299
Fax:(07) 3221 2553
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Contents

1Rationale

2Dimensions and objectives

2.1Dimension 1: Knowing and understanding business management

2.2Dimension 2: Applying and analysingmanagementstrategies

2.3Dimension 3: Evaluating and communicatingmanagementstrategies

3Course organisation

3.1Course overview

3.2Advice, guidelines and resources

4Assessment

4.1Principles of exit assessment

4.2Planning an assessment program

4.3Special provisions

4.4Authentication of student work

4.5Assessment techniques

4.6Verification folio requirements

4.7Exit standards

4.8Determining exit levels of achievement

5Glossary

1Rationale

Businesses are complex and dynamic entities that continually change to meet the demands of consumer markets. Business managers work to meet market demands and reach business goals by formulating strategies concerning marketing, operations, human resources, finance, and business development activities. At the same time, business managers strive to develop ethical business strategies that consider the concerns of all stakeholders while achieving profitability. Business managers engage and communicate with all parties, including team members and stakeholders, when working to meet business objectives.

Business Management builds students’ understandings of the important role that managers play in businesses that vary in size and nature. Students develop knowledge and understanding of business management as they explore the main functions of businesses. Learning through case studies in authentic local, national and global business contexts, students apply their knowledge to business situations in order to identify issues. Students analyse and interpret business information and management strategies, evaluating the success of these in meeting business outcomes. Simulating the role of business managers, students formulate and justify management strategies and recommendations that impact on business objectives.

Students apply their knowledge and understanding of the main functions of businesses to practical and authentic situations as they develop innovative and creative feasibility studies or undertake business ventures. Working in teams, students develop communication and management strategies. By considering the views of a range of stakeholders, students determine the implications of business management strategies on individuals, businesses and society.

A course of study in Business Management can establish a basis for further education and employment in the fields of small-to-medium enterprise, business management, human resource management, financial management, commerce, marketing and operations management and corporate systems management.

2Dimensions and objectives

The dimensions are the salient properties or characteristics of distinctive learning for this subject. The dimensions are described through their objectives and it is these that schools are required to teach and that students should have the opportunity to learn. The objectives describe what students should know and be able to do by the end of the course of study.

Progress in a particular dimension may depend on the qualities and skills developed in other dimensions. Learning through each of the dimensions must increase in complexity to allow for greater independence of the learner over a four-semester course of study.

Schools must assess how well students have achieved the objectives. The standards have a direct relationship with the objectives, and are described in the same dimensions as the objectives.

The dimensions for a course of study in this subject are:

  • Dimension 1: Knowing and understanding business management
  • Dimension 2: Applying and analysing management strategies
  • Dimension 3: Evaluating and communicating management strategies.

2.1Dimension 1: Knowing and understanding business management

The dimension Knowing and understanding business management involves the definition and use of business management terms, concepts and theories, and the explanation of management processes as students describe business situations.

2.1.1Objectives

By the conclusion of the course of study, students should:

  • define and use business management terms, concepts and theories
  • describe business situations using examples
  • explain management processes and strategies.

When students define and use business management terms, concepts and theories, they state the meaning of these and employ them in business situations.

When students describe business situations, they use examples to provide an account of the features of these situations. Business situations may include case studies, examples or business ventures. Features of business situations may include internal and external environmental factors.

When students explain management processes and strategies, they use their knowledge of business management to determine which processes and strategies are relevant to a business situation, and provide additional information about these that demonstrates a depth of understanding. Management processes and strategies include the underpinning practices of communication strategies and management strategies.

2.2Dimension 2:Applying and analysingmanagementstrategies

The dimension Applying and analysing management strategies involves students using their knowledge to identify issues in business situations, and analyse business information and management strategies to interpret trends, patterns and relationships.

2.2.1Objectives

By the conclusion of the course of study, students should:

  • select and organise business information from primary and secondary sources
  • apply knowledge to identify issues in business situations
  • analyse business information and management strategies, and interpret trends, patterns and relationships.

When students select business information, they determine the relevance of information gathered from primary sources (e.g. surveys, questionnaires, interviews) and secondary sources (e.g. texts, publications). When students organise, they sequence business information in an order that helps analysis.

When students apply their knowledge to business situations, they relate management terms, concepts, theories, processes and strategies to these situations to identify the key issues impacting upon businesses.

When students analyse business information, they examine it to identify trends, patterns and relationships. When students interpret these trends, patterns and relationships, they make meaning of the effects of these on business outcomes. Students may analyse and interpret strategies that they enact when running business ventures.

2.3Dimension 3:Evaluating and communicatingmanagementstrategies

The dimension Evaluating and communicating management strategies involves students evaluating the effectiveness of management strategies to formulate and communicate recommendations.

2.3.1Objectives

By the conclusion of the course of study, students should:

  • evaluate management strategies to formulate recommendations
  • justify recommendations using evidence
  • communicate using language conventions to suit audiences and purposes.

When students evaluate management strategies, they make judgments about the strategies employed by existing businesses or competitors, including whether or not they align with the objectives of the business. Students use these judgments to formulate recommendations, which provide advice on the most suitable options for future success. Recommendations include future management strategies or a determination of the feasibility of a business idea.

When students justify recommendations, they use evidence to support these. Evidence may be drawn from the analysis, interpretation or evaluation of business information and management strategies.

When students communicate, they select and use language conventions to convey meaning to audiences for a particular purpose. Language conventions include spelling, punctuation, grammar, pitch, pace, timing, paragraphing, genre and referencing conventions.

3Course organisation

3.1Course overview

The minimum number of hours of timetabled school time, including assessment, for a course of study developed from this syllabus is 55 hours per semester. A course of study will usually be completed over four semesters (220 hours).

Business Management involves learning experiences that enable students to apply management understandings to authentic business management contexts.

A four-semester course of study includes:

  • four to eight units of work, ranging from 20 to 55 hours in duration
  • the development of the two underpinning practices through learning experiences (seeSection3.1.1)
  • coverage of the six areas of study (see Section 3.1.2)
  • at least two contextualised units of work, each of which draws on at least two areas of study (seeSection 3.1.3).

3.1.1Underpinning practices

The underpinning practices of Business Management can be developed through teaching and learning experiences in units of work.

The underpinning practices of this syllabus are:

  • communication strategies
  • management strategies.
Communication strategies

Effective communication between team members, and between team members and external parties, is essential for the implementation and achievement of business goals and plans. Learning in partnerships, small groups and teams enables students of Business Management to develop communication strategies. Communication strategies include those employed when listening, writing, speaking and presenting.

Teaching and learning experiences that foster the development of communication strategies may include students working in partnerships, groups and teams to:

  • negotiate group membership and ground rules
  • support and contribute to achieve outcomes
  • negotiate mutually beneficial outcomes
  • learn and use conflict management
  • actively listen to others
  • work effectively with others, share ideas and encourage participation
  • speak persuasively to express views
  • research the ideas and views of others
  • accept responsibility and experience different roles within a group
  • understand diversity and show tolerance/empathy to other points of view.
Management strategies

Effective management involves decision making that integrates goals, team views, stakeholders’ views, ethical implications of business activities, and the strategic management of businesses. Participating in short- and long-term individual and team projects enables students of Business Management to develop management strategies.

Teaching and learning experiences that foster the development of management strategies may include students working individually or in groups to:

  • set, implement and monitor goals
  • identify strengths, weaknesses, opportunities and threats to the achievement of goals
  • determine task allocation and resource requirements
  • develop and manage time frames and plans
  • identify and test alternative strategies
  • practise making decisions by considering the effect of management strategies (social, environmental, political and human) on stakeholders.

3.1.2Areas of study

There are six areas of study in Business Management (seeTable 1):

  • Management practices
  • Marketing management
  • Operations management
  • Human resource management
  • Financial management
  • Business development.

Each area of study has a focus. The focus of each area of study is core to Business Management and is taught through suggested subject matter. Suggested subject matter is neither prescriptive nor exhaustive.

Table 1: Areas of study

Area of study: Management practices
Focus / Management practices involve business structures, the impact of internal or external environments on businesses, and the roles of business managers who plan, organise and lead businesses.
Suggested subject matter /
  • Business managers plan, organise, lead and communicate to achieve business objectives.
  • Strategic business management includes the analysis of marketing, operations, finance and human resources to ensure the effective and efficient use of human and physical resources.
  • Production efficiency and the creation of profit are primary goals of business managers, butthey are not the only criteria of business success.
  • Business managers consider the views of stakeholders, risks, resources, and the internal and external environment as they make decisions to achieve business goals and objectives.
  • Different levels of management fulfil specific roles and functions, with communication between managers and professional networks being crucial to business success.
  • Business management decisions and behaviour often involve ethical considerations, which may conflict with profit considerations and corporate culture.
  • Businesses must comply with legal and registration requirements appropriate to legal structures pertaining to the business.
  • Businesses undertake audits to determine corporate social responsibility and develop codes of conduct.

Area of study: Marketing management
Focus / Marketing management involves businesses researching consumer markets and tailoring products, ideas or services to satisfy the changing needs or wants of consumers and society.
Suggested subject matter /
  • Marketing involves activities designed to identify and satisfy consumer wants and needs, responding to changes in consumer behaviour.
  • Business managers select an appropriate marketing orientation suitable to their target market.
  • Management decisions in marketing are impacted by legislation, societal and ethical considerations.
  • Effective marketing is a competitive advantage that business managers use to achieve objectives.
  • The marketing mix is a generally accepted set of marketing variables — price, product, promotion and place.
  • The marketing strategy involves analysis, selecting a target market and creating an appropriate marketing mix.
  • Marketing planning is a systematic way of assessing marketing opportunities and determining marketing strategies.
  • Marketing research follows a process that provides primary and secondary data to help identify marketing opportunities.
  • Changing technologies provide alternative marketing opportunities and affect marketing strategies.

Area of study: Operations management
Focus / Operations management involves businesses efficiently and effectively converting inputs into quality products or services desired by customers.
Suggested subject matter /
  • Operations managers make strategic decisions involving planning, developing and controlling the activities required to create a product and supply a service.
  • Operations management includes strategic and operational planning.
  • Operations decisions are made based on purchasing, dispatching, inventory control, scheduling, maintenance (corrective and preventative) and quality control.
  • Operations management is influenced by production philosophies and scheduling techniques that ensure materials are in the right place at the right time (e.g. just-in-time, total quality management).
  • Organisational tools, such as Gantt charts, are useful for planning and scheduling operations.
  • Technology plays an increasing role in operations and impacts on the nature of work with issues such as outsourcing and deskilling arising.
  • Ethical issues such as conservation, environmental concerns and offshore production affect operations management decisions.

Area of study: Financial management
Focus / Financial management occurs through the analysis and interpretation of financial records and is necessary when achieving business goals.
Suggested subject matter /
  • The role of financial management is to ensure that financial decisions allow the business to survive, grow and achieve its goals and objectives.
  • The objectives of financial management are liquidity, profitability, risk minimisation and growth, which may conflict at times.
  • Financial management is influenced by the legal structure of the business, ethics and the external environment in which it operates.
  • Financial management involves sourcing and managing the risks of finance.
  • Finance can be short term, long term, internal, external, local or global.
  • Financial managers use tools such as financial ratio analyses to make financial management decisions and for information disclosure.
  • Financial management involves the analysis and interpretation of financial statements in decision making.
  • Financial managers develop investment strategies based on the evaluation of financial risk in order to meet business goals.

Area of study: Human resource management
Focus / Human resource management involves using the principles of job design, and managing people and employment cycles.
Suggested subject matter /
  • Human resource management involves attracting, motivating, developing, training and retaining the appropriate mix of human resources.
  • Human resource managers design and implement strategies to manage the employment cycle, including performance appraisal, to achieve business objectives.
  • The effective management of human resources requires an understanding of the theories of management and leadership.
  • The relative bargaining power of a human resource manager or business is affected by various factors such as the extent of unionisation, government regulation, and supply and demand.
  • Human resource managers facilitate communication and cooperation between management and employees to achieve personal and business goals, which may differ at times.
  • Human resource managers work within ethical and legal boundaries to achieve business, individual and societal goals and objectives.
  • Understanding individual and cultural diversity, showing tolerance to other points of view, and encouraging consensus and collaboration enables the negotiation of mutually beneficial outcomes.
  • Forming strategic alliances, supporting others and contributing to team efforts enables employees to achieve personal and business goals.

Area of study: Business development
Focus / Business development involves entrepreneurship as students develop and test ideas, preparing feasibility studies to determine the viability of those ideas.
Suggested subject matter /
  • Entrepreneurship requires innovation, creativity, initiative and an understanding of processes for testing the viability and ethical nature of new ideas.
  • Intrapreneurship is encouraged in business through building a flexible and supportive environment that encourages free thinking and the sharing of ideas.
  • Entrepreneurial ideas use evolving technologies to generate ideas, increase market share and achieve business goals.
  • Entrepreneurial ideas come to fruition through the development of clear business feasibility studies.
  • Business proposals consist of a business profile, competition analysis, recommendations and an evaluation of the proposal to determine the viability of the proposed business idea.
  • A competition analysis should incorporate marketing, human resources, financial and operational considerations.
  • Analysing and comparing competitors are useful techniques for formulating recommendations for a proposed business.
  • An evaluation of the business proposal provides a test of feasibility and viability of the proposed business allowing decisions for future action to be made.

3.1.3Developing units of work using areas of study

When developing units of work, areas of study may be taught discretely or in combination. Units of work are developed by selecting relevant areas of study and devising learning experiences that involve a range of business situations.

These learning experiences are developed by drawing together:

  • objectives from the dimensions
  • relevant subject matter that develops understanding of the focuses of the selected areas of study
  • a range of business situations, such as case studies, examples or business ventures
  • underpinning practices: communication strategies and management strategies.

For example, a unit of work devised to teach the focus of operations management may include local and international business case studies from small-to-medium enterprises and large businesses.