Do you want to understand the Business world? 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.
Students explore the key processes and considerations for managing a business efficiently and effectively to achieve business objectives. They examine different types of businesses and their respective objectives and stakeholders. They investigate strategies to manage both staff and business operations to meet objectives and develop an understanding of the complexity and challenges of managing businesses. Students compare the theoretical perspectives with current practice through the use of contemporary Australian and global business case studies from the past four years.
Area of Study 1 Business Foundations Students explore the key characteristics of businesses, their stakeholders, management styles and skills, and corporate culture.
Area of Study 2 Human Resource Management Students study the theories of motivation and apply them to a range of contexts, and analyse and evaluate strategies related to the management of employees.
Area of Study 3 Operations Management Students analyse the relationship between business objectives and operations management and propose and evaluate strategies to improve the efficiency and effectiveness of business operations.
Students consider the importance of reviewing key performance indicators to determine current performance and strategic management necessary to position a business for the future. They study a theoretical model to undertake change and consider a variety of strategies to manage change in the most efficient and effective way to improve business performance. They investigate the importance of effective management and leadership in change management. Students evaluate business practice against theory.
Area of Study 1 Reviewing performance - the need for change Students examine the way business change may come about, analyse why managers may take a proactive or reactive approach to change, use key performance indicators to analyse the performance of a business, explain the driving and restraining forces for change and evaluate management strategies to position a business for the future.
Area of Study 2 Implement the change Students discuss the importance of effective management strategies and leadership in relation to change, evaluate the effectiveness of a variety of strategies used by managers to implement change, and discuss the effect of change on the stakeholders of a business.
The student’s performance on each outcome will be assessed using one or more of the following (these SACs will comprise 50% of a student's study score):
a case study
structured questions
an essay
a report
a media analysis
The level of achievement for Units 3 and 4 is also assessed by an end-of-year examination which contributes 50 per cent to the study score.
For more detailed information, please click on the link/s below:
Edrolo, VCE Business Management, Units 3 & 4 hard copy textbook and online resource