What is Business Management all about?
VCE Business Management examines the ways businesses manage resources to achieve objectives. The VCE Business Management study design follows the process from the first idea for a business concept, to planning and establishing a business, through to the day-to-day management of a business. It also considers changes that need to be made to ensure continued success of a business. Students develop an understanding of the complexity of the challenges facing decision makers in managing these resources. A range of management theories is considered and compared with management in practice through contemporary case studies drawn from the past four years. Students learn to propose and evaluate alternative strategies to contemporary challenges in establishing and maintaining a business.
This study enables students to:
- Understand and apply business concepts, principles and terminology
- Understand the complex and changing environments within which businesses operate
- Understand the relationships that exist between a business and its stakeholders
- Recognise the contribution and significance of business within local, national and global markets
- Analyse and evaluate the effectiveness of management strategies in different contexts
- Propose strategies to solve business problems and take advantage of business opportunities.
The study is made up of four units.
Unit 1: Planning a business
Unit 2: Establishing a business
Unit 3: Managing a business
Unit 4: Transforming a business
There are no prerequisites for entry to Units 1, 2 and 3. Students must undertake Unit 3 prior to undertaking Unit 4. Units 1 to 4 are designed to a standard equivalent to the final two years of secondary education.
The award of satisfactory completion for a unit is based on the teacher’s decision that the student has demonstrated achievement of the set of outcomes specified for the unit.
Levels of Achievement
Units 1 and 2
School-based assessment consisting of coursework, assessment tasks and an exam
Units 3 and 4
- Unit 3 school-assessed coursework: 25 %
- Unit 4 school-assessed coursework: 25%
- End-of-year examination: 50 %