Business Management Units 3 and 4
Unit 3 explores the key processes and issues concerned with managing a business efficiently and effectively to achieve business objectives. Students examine different types of businesses; they consider corporate culture, management styles, management skills and the relationship between these. Students investigate strategies to manage both staff and business operations to meet objectives.
Unit 4 looks at theories and strategies related to transforming a business, as businesses are under constant pressure to adapt and change to meet their objectives. Students consider the importance of reviewing key performance indicators to determine current performance and the strategic management necessary to position a business for the future. Students 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 leadership in change management.
Who is it for?
Business Management is ideal for every student who would like to work in business in some capacity in the future.
It is also a great subject to help you understand current affairs and the economy.
What do you do?
Activities are varied from self-correcting exercises to sending in a variety of responses every week to a wide ranging series of tasks.
Often we include optional work to broaden the scope of potential activities for students.
What skills do you need?
There are no prerequisites, but you do need to do a fair amount of reading and writing.
What skills do you develop?
You will develop skills including:
- defining, describing and applying relevant business management concepts and terms
- research and analysing case studies and contemporary examples of business management
- interpreting, discussing and evaluating business information and ideas
- applying business management knowledge to practical and/or simulated business situations.
A textbook is not required, but optional. Students can choose one of the following:
- The CPAP Study Guide to VCE Business Management, first edition, by John Mitchell, CPAP 2017
- Key Concepts in VCE Business Management Units 3 & 4, fourth edition, by Chapman, Phelon, Richardson and Smithies. Jacaranda 2016
- Cambridge VCE Business Management 3 & 4, by Julie Cain, Megan Jeffery and Gillian Somers. Cambridge University Press, Australia 2016.
Things to think about
There is a large amount of reading required for this subject. It is also expected that you will develop the skill to write detailed extended response answers.
It is expected that students dedicate 6 – 8 hours per week to this subject.
Things you can do now
Research five different Australian businesses and create a company profile.
Go to the VCAA website for more information about this subject.
Things to have a look at
How It’s Made Lego
Hierarchy of Needs in Ratatouille