VCE Business Management

Unit 1:    Planning a business

Businesses of all sizes are major contributors to the economic and social wellbeing of a nation. Therefore how businesses are formed and the fostering of conditions under which new business ideas can emerge are vital for a nation’s wellbeing. Taking a business idea and planning how to make it a reality are the cornerstones of economic and social development. In this unit students explore the factors affecting business ideas and the internal and external environments within which businesses operate, and the effect of these on planning a business.

Areas of Study

•    The business idea
•    External environment
•    Internal environment


As part of Unit 1 Business Management students develop, operate and evaluate their own business enterprise.  Profits are donated to charity.

Unit 2:    Establishing a business

This unit focuses on the establishment phase of a business’s life. Establishing a business involves complying with legal requirements as well as making decisions about how best to establish a system of financial record keeping, staff the business and establish a customer base. In this unit students examine the legal requirements that must be satisfied to establish a business. They investigate the essential features of effective marketing and consider the best way to meet the needs of the business in terms of staffing and financial record keeping. Students analyse various management practices in this area by applying this knowledge to contemporary business case studies from the past four years

Areas of Study
•    Legal requirements and financial considerations
•    Marketing a business
•    Staffing a business

Unit 3:    Managing a business

In this unit 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

Students visit the Carlton and United Breweries to observe an operation system in action.

Videos from a Student Perspective




Areas of Study

•    Business foundations
•    Managing employees
•    Operations management

Unit 4:    Transforming a business

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. 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 leadership in change management. Using a contemporary business case study from the past four years, students evaluate business practice against theory.

Areas of Study

•    Reviewing performance – the need for change
•    Implementing change

Assessment for Units 3 & 4
•    School assessed coursework for Unit 3 contributes 25 per cent to the final assessment
•    School assessed coursework for Unit 4  contributes 25 per cent to the final assessment
•    End of year examination contributes 50 per cent to the final assessment

 Studying Business Management may to lead to:

University – Bachelor degrees in:  Economics, Business Systems, Banking & Finance, Marketing, Management, Business, Information Technology, Arts/Commerce, International Trade, Tourism & Hospitality, Teacher Education, Commerce/Law, Social Sciences

Employment opportunities include:  Banking, Insurance, Marketing, Finance, International Trade, Travel & Tourism, Clerical Work, Public Administration, Local Government, Real Estate, Sales & Retail, Human Resource Management

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