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Syllabus

Sep 11, 20259 min read

Business Studies Stage 6 Syllabus

Operations:

Schoology Materials

The focus of this topic is the strategies for effective operations management in large businesses.

Outcomes

The student:

  1. H1 critically analyses the role of business in Australia and globally

  2. H2  evaluates management strategies in response to changes in internal and external influences

  3. H3  discusses the social and ethical responsibilities of management

  4. H4  analyses business functions and processes in large and global businesses

  5. H5  explains management strategies and their impact on businesses

  6. H6  evaluates the effectiveness of management in the performance of businesses

  7. H7  plans and conducts investigations into contemporary business issues

  8. H8  organises and evaluates information for actual and hypothetical business situations

  9. H9  communicates business information, issues and concepts in appropriate formats

Content:

Students learn to:

examine contemporary business issues to:

  • discuss the balance between cost and quality in operations strategy
  • examine the impact of globalisation on operations strategy
  • identify the breadth of government policies that affect operations management
  • explain why corporate social responsibility is a key concern in operations management

investigate aspects of business using hypothetical situations and actual business case studies to:

  • describe the features of operations management for businesses in a tertiary industry
  • assess the relationship between operations and the other key business functions in two actual businesses
  • explain how operations strategy can help a business sustain its competitive advantage
  • recommend possible operations strategies for one hypothetical business

Students learn about:

role of operations management

influences

  • globalisation, technology, quality expectations, cost-based competition, government policies, legal regulation, environmental sustainability
    Influences
  • corporate social responsibility corporate social responsibility
    • the difference between legal compliance and ethical responsibility
    • environmental sustainability and social responsibility

operations processes

operations strategies

Finance:

Content

Students learn to:

examine contemporary business issues to:

  • explain potential conflicts between short-term and long-term financial objectives

  • analyse the influence of government and the global market on financial management

  • identify the limitations of financial reporting

  • compare the risks involved in domestic and global financial transactions

investigate aspects of business using hypothetical situations and actual business case studies to:

  • calculate key financial ratios

  • assess business performance using comparative ratio analysis

  • recommend strategies to improve financial performance

  • examine ethical financial reporting practices

Students learn about:

role of financial management:

influences on financial management

  • internal sources of finance - retained profits
    internal sources of finance
  • external sources of finance
    external sources of finance
    • debt - short-term borrowing (overdraft, commercial bills, factoring), long-term borrowing (mortgage, debentures, unsecured notes, leasing)
    • equity - ordinary shares (new issues, rights issues, placements, share purchase plans), private equity
  • financial institutions - banks, investment banks, finance companies, superannuation funds, life insurance companies, unit trusts and the Australian Securities Exchange
    financial institutions
  • influence of government - Australian Securities and Investments Commission, company taxation
    influence of government
  • global market influences - economic outlook, availability of funds, interest rates
    global market influences

processes of financial management

  • planning and implementing - financial needs, budgets, record systems, financial risks, financial controls
    • debt and equity financing - advantages and disadvantages of each
      debt and equity financing
    • matching the terms and source of finance to business purpose
  • monitoring and controlling - cash flow statement, income statement, balance sheet
    monitoring and controlling
  • financial ratios
    financial ratios
    • liquidity - current ratio (current assets ÷ current liabilities)
    • gearing - debt to equity ratio (total liabilities ÷ total equity)
    • profitability - gross profit ratio (gross profit ÷ sales); net profit ratio (net profit ÷ sales); return on equity ratio (net profit ÷ total equity)
    • efficiency - expense ratio (total expenses ÷ sales), accounts receivable turnover ratio (sales ÷ accounts receivable)
    • comparative ratio analysis - over different time periods, against standards, with similar businesses
  • limitations of financial reports - normalised earnings, capitalising expenses, valuing assets, timing issues, debt repayments, notes to the financial statements
    limitations of financial reports
  • ethical issues related to financial reports
    Ethical issues related to financial reports

financial management strategies

  • cash flow management
    cash flow management
    • cash flow statements
    • distribution of payments, discounts for early payment, factoring
  • working capital management
    working capital management
    • control of current assets - cash, receivables, inventories
    • control of current liabilities - payables, loans, overdrafts
    • strategies - leasing, sale and lease back
  • profitability management
    profitability management
    • cost controls - fixed and variable, cost centres, expense minimisation
    • revenue controls - marketing objectives
  • global financial management
    global financial management
    • exchange rates
    • interest rates
    • methods of international payment - payment in advance, letter of credit, clean payment, bill of exchange
    • hedging
    • derivatives

Marketing:

Students learn to:

examine contemporary business issues to:

  • explain why goods and/or services are central to both marketing and operations
  • examine why ethical behaviour and government regulation are important in marketing
  • assess why a mix of promotional strategies is important in the marketing of goods and services

investigate aspects of business using hypothetical situations and actual business case studies to:

  • evaluate the marketing strategies for a good or service
  • analyse a marketing plan for a business
  • explain how globalisation has affected marketing management
    7. global marketing

Students learn about:

role of marketing

influences on marketing

  • factors influencing customer choice - psychological, sociocultural, economic, government
    factors influencing consumer choice
  • consumer laws
    consumer laws
    • deceptive and misleading advertising
    • price discrimination
    • implied conditions
    • warranties
  • ethical - truth, accuracy and good taste in advertising, products that may damage health, engaging in fair competition, sugging
    Ethical influences

marketing process

0. The marketing process

marketing strategies

  • market segmentation, product/service differentiation and positioning
    0. market segmentation
    0. Product, service differentiation and positioning
  • products - goods and/or services
    1. Product
    • branding
    • packaging
  • price including pricing methods - cost, market, competition-based
    2. Price
    • pricing strategies - skimming, penetration, loss leaders, price points
    • price and quality interaction
  • promotion
    3. Promotion
    • elements of the promotion mix - advertising, personal selling and relationship marketing, sales promotions, publicity and public relations
    • the communication process - opinion leaders, word of mouth
  • place/distribution
    4. Place (distribution)
    • distribution channels
    • channel choice - intensive, selective, exclusive
    • physical distribution issues - transport, warehousing, inventory
  • people, processes and physical evidence
    5. people, processes and physical evidence
  • e-marketing
    6. e-marketing
  • global marketing
    7. global marketing
    • global branding
    • standardisation
    • customisation
    • global pricing
    • competitive positioning

Human Resources:

Students learn to:

  • examine contemporary business issues to:

    • discuss the influence of government on the process of determining employment contracts
    • explain how businesses exhibit corporate social responsibility in the management of human resources
    • analyse the causes of two workplace disputes and the strategies used to resolve them
    • examine the advantages of a diverse, culturally competent workforce for a global business

  • investigate aspects of business using hypothetical situations and actual business case studies to:

    • explain the interdependence between human resources and other key business functions
    • compare the process of negotiating enterprise/collective agreements with the negotiation of individual contracts
    • discuss the advantages and disadvantages of outsourcing in the global market
    • evaluate the effectiveness of human resource management for one business and recommend appropriate alternative strategies

Students learn about:

role of human resource management

key influences

processes of human resource management

strategies in human resource management

effectiveness of human resource management

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