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VCE Business Studies

Business Management Unit 3: Managing a Business


There are no prerequisites for this unit.

Course Description

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.

Areas of Study

Business foundations

Introduces the key characteristics of businesses and their stakeholders. Students investigate potential conflicts between and the different demands of stakeholders on a business. They examine a range of management styles and management skills that may be used when managing a business and apply these to contemporary business case studies.

Managing employees

Students investigate essential factors such as motivation and training involved in effectively managing employees during their time at a business to ensure the business objectives are achieved. They consider Maslow’s Hierarchy of Needs, Locke and Latham’s Goal Setting Theory and Lawrence and Nohria’s Four Drive Theory of motivation. Using the theories and motivation strategies, students propose and justify possible solutions to employee management in contemporary business case studies. Students gain an overview of workplace relations, including the main participants and their roles in the dispute resolution process.

Operations management

The production of goods and services is the core objective of businesses. Effective management of the process of transforming inputs into outputs is vital to the success of a business, both in terms of maximising the efficiency and effectiveness of the production process and meeting the needs of stakeholders. In this area of study students examine operations management and consider the best and most responsible use of available resources for the production of a quality final good or service in a competitive, global environment.


Outcomes Assessment Tasks Marks Allocated
(school-assessed coursework)
Discuss the key characteristics of businesses and stakeholders, and analyse the relationship between corporate culture, management styles and management skills. Structured questions or media analysis or test. 20
Explain theories of motivation and apply them to a range of contexts, and analyse and evaluate strategies related to the management of employees. Structured questions or media analysis or test. 40
Analyse the relationship between business objectives and operations management, and propose and evaluate strategies to improve the efficiency and effectiveness of business operations. Structured questions or media analysis or test. 40
Total Marks 100

Overall Final Assessment

Graded Assessment Title Assessment Exam Duration Contribution to Study Score (%)
1 Unit 3 Coursework School-assessed   25
2 Unit 4 Coursework School-assessed   25
3 Written Examination November 2 hours 50


Reproduced by permission of the Victorian Curriculum and Assessment Authority, Victoria, Australia: