VCE Business Management examines the ways businesses manage resources to achieve objectives. The VCE Business Management study design follows the first idea for a business concept, to planning and establishing a business through day-to-day business management. It also considers changes that need to be made to ensure continued success. Students develop an understanding of the complexity of the challenges facing decision-makers in managing these resources.
A range of management theories is compared with management in practice through contemporary case studies drawn from the past four years. Students learn to propose and evaluate alternative strategies to current challenges in establishing and maintaining a business.
Businesses of all sizes significantly contribute to a nation’s economic and social wellbeing. Therefore, how businesses are formed and the conditions under which new business ideas can emerge are vital for a nation’s wellbeing. Taking a business idea and planning to make it a reality are the cornerstones of economic and social development. In this unit, students explore the factors affecting business ideas, the internal and external environments within which businesses operate, and the effect on planning a business.
This unit focuses on the establishment phase of a business’s life. Establishing a business involves complying with legal requirements and deciding how best to develop a financial record-keeping system, staff the company, and establish a customer base. In this unit, students examine the legal requirements that must be satisfied to establish a business.
In this unit, students explore the key processes and considerations for managing a business efficiently and effectively to achieve business objectives. Students 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 challenge of managing businesses. Students compare theoretical perspectives with current practice through the use of contemporary Australian and global business case studies from the past four years.
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.
In this unit, 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 effective management and leadership in change management. Using one or more contemporary business case studies from the past four years, students evaluate business practice against theory.
