In contemporary Australian society there are a range of businesses managed by people who establish systems and processes to achieve a variety of objectives. These systems and processes are often drawn from historical experience and management theories designed to optimise the likelihood of achieving success.
In studying VCE Business Management, students develop knowledge and skills that enhance their confidence and ability to participate effectively as socially responsible and ethical members, managers and leaders of the business community, and as informed citizens, consumers and investors. The study of Business Management leads to opportunities across all facets of the business and management field such as small business owner, project manager, human resource manager, operations manager or executive manager. Further study can lead to specialisation in areas such as marketing, public relations and event management.
Units of Study
Unit 1:
Planning A Business
Businesses of all sizes are major contributors to the economic and social wellbeing of a nation. Therefore how businesses are formed and the fostering of conditions under which new business ideas can emerge are vital for a nation’s wellbeing. Taking a business idea and planning how to make it a reality are the cornerstones of economic and social development. In this unit students explore the factors affecting business ideas and the internal and external environments within which businesses operate, and the effect of these on planning a business.
Unit 2:
Establishing A Business
This unit focuses on the establishment phase of a business’s life. Establishing a business involves complying with legal requirements as well as making decisions about how best to establish a system of financial record keeping, staff the business and establish a customer base. In this unit students examine the legal requirements that must be satisfied to establish a business. They investigate the essential features of effective marketing and consider the best way to meet the needs of the business in terms of staffing and financial record keeping. Students analyse various management practices in this area by applying this knowledge to contemporary business case studies from the past four years.
Unit 3:
Managing A Business
In this unit students explore the key processes and issues concerned with managing a business efficiently and effectively to achieve the business objectives. Students examine the different types of businesses and their respective objectives. They consider corporate culture, management styles, management skills and the relationship between each of these. Students investigate strategies to manage both staff and business operations to meet objectives. Students develop an understanding of the complexity and challenge of managing businesses and through the use of contemporary business case studies from the past four years have the opportunity to compare theoretical perspectives with current practice.
Unit 4:
Transforming A Business
Businesses are under constant pressure to adapt and change to meet their objectives. In this unit 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. Using a contemporary business case study from the past four years, students evaluate business practice against theory.
Example pathways
- Accountant
- Bookkeeper
- Business Manager
- Conveyancing
- Economist
- Education
- Finance Industry
- Financial Analyst
- Office Manager
- Real Estate Industry
- Sales Assistant
This is a guide only, please see the careers team for pathway planning advice.
Entry
There are no prerequisites for entry to Units 1, 2 and 3. Students must undertake Unit 3 prior to undertaking Unit 4.
Unit 3 and 4 Assessment
Percentage contributions to the study score in VCE Business Management are as follows:
- Unit 3 School-assessed Coursework: 25 per cent.
- Unit 4 School-assessed Coursework: 25 per cent.
- End-of-year examination: 50 per cent
