Would you like to learn what’s involved in setting up and running a business? Business Management is one of the most popular VCE subjects. It develops knowledge and skills that can be applied to many areas throughout one’s life. Develop knowledge of how to plan and establish a business, how to market and staff a business effectively and ways to transform a business in a changing world.
In Business Management, students learn about planning, marketing, financing and managing businesses of all types and sizes. They study innovation and entrepreneurship and how to protect their business ideas. They also consider customer and economic trends as well as the impact of trends in society. Students learn about who is involved in running a business and corporate social responsibility. They also look at the impact of changes in technology and global issues on businesses.
It relates to the following specific careers:
Advertising Accounts Executive • Brand Manager • Business Analyst • Change Manager • Community Engagement Officer • Digital Marketing Coordinator • Ecommerce Business Owner • Entrepreneur • Inventor • Marketing Manager • Market Researcher • Operations Manager • Product Manager • Property Manager: Commercial/Residential • Retail Trading Business Planner • Sales Representative • Scrum Master • Social Media Marketing Coordinator • Start-up Founder • Training and Development Manager
It can be important for the following general careers:
Administration • Business Information Systems • Business Strategy • Consulting • Entrepreneurship • Events Management • Hospital Administration • Hospitality Management • Human Resource Management • International Business/Marketing • Journalism • Media and Publishing • Policy Research • Public Relations • Public Service • Recruitment • Retail buying and management • sales • Supply chain and logistics • Teaching
In Unit 1, students take a business idea and plan how to make it happen. They explore the conditions needed for new business ideas to emerge and flourish. They discuss some of the issues that need to be considered before a business can be started and examine the impact of the internal and external environment on the operation of a business.
In Unit 2, students look in more detail at starting a new business. They examine the legal requirements to set up a business and the features of effective marketing. These features include the importance of establishing a customer base and a marketing presence. Students evaluate effective marketing and public relations strategies. They explore effective ways to manage financial records and staffing. They also analyse these management practices and apply their knowledge to a real case study.
The student’s performance on each outcome will be assessed using one or more of the following:
a case study analysis
short-answer and extended-answer structured questions
a business research report
development of a business plan and/or feasibility study
an interview with and a report on a chosen business
a school-based, short-term business activity
a business simulation exercise
an essay
a business survey and analysis
a media analysis.
In addition, there is an examination scheduled at the end of each semester.
Edrolo VCE Business Management Units 1 & 2 2023 - textbook and online resource.