Business Management Units 1 and 2
Unit 1 covers the planning of a business. As all businesses contribute to the economic and social wellbeing of a nation, it is vital to develop conditions under which new business ideas can emerge. This Unit looks at taking a “What if …” idea and turning ideas into a reality. Students will explore the factors affecting business ideas, the internal and external environments which affect how a business operates and the effect these have on planning a business.
Following on from planning a business, Unit 2 focuses on establishing the business. It looks at the legal requirements to bring the business into existence, the establishment of financial record keeping and staffing the business. It also looks at how to promote and inform potential customers about the business. Students look at effective ways to market the business and the best way to meet the staffing needs of the business, as well as meeting financial record keeping requirements.
Who is it for?
This subject is for students who:
- are interested in the business world
- enjoy developing and implementing their own ideas
- are thinking about starting their own business in the future
- are already running their own small business or are working in a business
- would like to work in business in some capacity in the future
- would like to know more about how to run a business successfully.
What do you do?
In Unit 1, students will explore theories related to concepts in business management such as characteristics of a successful business manager and factors that affect the business. Students will also have the opportunity to develop an idea for a business by writing a business plan.
In Unit 2, students will look at legal requirements for a business, ideas about marketing and public relations, and the recruitment process
What skills do you need?
Students will develop the skills they need as they work through the subject
What skills do you develop?
Along with reading and writing skills, students also need to have computer skills in order to:
- do online research
- download and save Word documents
- scan and upload Word documents.
- You must have access to the internet in order to access this course. All weekly work will be completed and submitted online.A textbook is not required, but optional. Students can choose one of the following:
- Key Concepts in VCE Business Management Units 1 & 2, fourth edition (2016) or 5E edition (2018) by Chapman, Dumovic, Richardson and Smithies. Jacaranda
Cambridge VCE Business Management 1 & 2 by Julie Cain, Megan Jeffery and Gillian Somers. Cambridge University Press, Australia 2016
Things to think about
Business Management is a popular subject that allows you to learn more about the business world. As part of the subject, you will learn about business theories. By applying what you learn to a job you have or by discussing it with someone you know who works you will understand the subject more thoroughly. Business Management will prepare you to run your own business or be a part of a business in future.
Things you can do now
Begin to analyse how well an organisation you are part of works (business/ school/ club). Would you do things in the same way? What could be done better?
Things to have a look at
Business Management at VSV overview.