VCE Business Management Units 3-4

Summary:

Unlock Your Path to Exam Success with Business Management Exam Revision Notes!

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Full set of extensive Business Management Units 3/4 Exam Revision notes for an entire year.
Topics:
U3AOS1 – Business Foundations
U3AOS2 – Managing Employees
U3AOS3 – Operations Management
U4AOS1 – The Need For Change
U4AOS2 – Implementing Change

Includes:
Key Knowledge
Key Skills
Theory (Defs, Adv&DisAdv, Tables, Principals, Efficiency and Effectiveness)
Review Questions Quiz Notes
Task Words

Bonus Revision:
Highly Likely Exam Questions
Contemporary Examples

Excerpt:

VCE Business Management Units 3-4

Business Foundations Unit 3 AOS 1
Key Knowledge

• Types of businesses include sole traders, partnerships, private limited companies, publicly listed companies, and social and government enterprises.
• Business objectives include making a profit, increasing market share, fulfilling a market and/or social need and meeting shareholder expectations.
• Characteristics of stakeholders of businesses, including their interests, potential conflicts between stakeholders, and corporate social responsibility considerations.
• The areas of management responsibility including operations, finance, human resources, sales and marketing, and technology support, and how each area contributes to the achievement of business objectives.
• Management styles including autocratic, persuasive, consultative, participative and laissez-faire.
• The appropriateness of management styles in relation to the nature of task, time, experience of employees and manager preference.
• Management skills including communicating, delegating, planning, leading, decision-making and interpersonal.
• The relationship between management styles and management skills.
• Corporate culture both official and real, and strategies for its development.

Key skills – define, describe, and apply relevant business management concepts and terms

• Analyse case studies and contemporary examples of business management.
• Interpret, discuss, and evaluate business information and ideas.
• Apply business management knowledge to practical and/or simulated business situations.
• Analyse and discuss management styles and management skills necessary for successful business management.
• Evaluate management styles and management skills and their appropriateness for a range of business situations.
• Propose and justify management strategies for developing corporate culture.