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Business Studies

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Business Studies

 

Business activity is a feature of everyone’s life. Throughout the world people engage in a web of business activities to design, produce, market, deliver and support a range of goods and services. In addition, investors, consumers and employees depend on the business sector for much of their quality of life.

 

As a course, Business Studies is distinctive in that it encompasses the theoretical and practical aspects of business in contexts which students will encounter throughout their lives. Conceptually, it offers learning from the planning of a small business to the management of operations, marketing, finance and human resources in large businesses. Through the analysis of contemporary business strategies the course also provides rigour and depth and lays an excellent foundation for students either in tertiary study or in future employment.

 

Contemporary business issues and case studies are embedded in the course to provide a stimulating and relevant framework for students to apply to problems encountered in the business environment. Students also investigate business planning and use a range of information to assess and evaluate business performance. The role of incentives, personal motivation and entrepreneurship, especially in small business, is recognised as a powerful influence in business success.

 

Preliminary Topics

 

Nature of business

The focus of this topic is the role and nature of business in a changing business environment.

 

Business management

The focus of this topic is the nature and responsibilities of management in the business environment

 

Business planning

The focus of this topic is the processes of establishing and planning a small to medium enterprise.

 

Business Studies HSC course

 

Operations

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

 

Marketing

The focus of this topic is the main elements involved in the development and implementation of successful marketing strategies.

 

Finance

The focus of this topic is the role of interpreting financial information in the planning and management of a business.

 

Human resources

The focus of this topic is the contribution of human resource management to business performance.

Economic

 

Economic decisions have a crucial influence on the quality of life experienced by people throughout the world. The study of economics can help individuals, groups and societies make choices that assist them to improve their quality of life.

 

The discipline of economics has a theoretical basis and economists often debate the relative merits of different theories when assessing economic issues and proposing solutions to economic problems, including economic modelling.

Discussion of economic issues dominates the media and politics. By understanding economics, students can make informed judgements about issues and policies and participate responsibly in decision-making.

Students will benefit from the study of economics if they engage in studies that include business, accounting and finance, media, law, marketing, employment relations, tourism, history, geography or environmental studies.

 

Introduction to Economics

The focus of this topic is the need for choice by individuals, businesses and governments. Their decisions determine the nature of the economy and create the diversity of economies found in the world.

 

Consumers and Business

The focus of this topic is an investigation of how consumers and businesses make decisions about the choices they face, recognising that in a market economy both are motivated largely by self-interest.

 

Markets

The focus of this topic is the operation of markets. The way in which market prices are determined and the need and means available for governments to intervene in markets are highlighted.

 

Labour Markets

The focus of this topic is an examination of a factor market – the market for labour resources. The contemporary institutions and outcomes of the labour market are key elements.

 

Financial Markets

The focus of this topic is the operation of financial markets in Australia, the contemporary institutions and the controls existing in the market which influence market outcomes. The different types of markets and the influence of the Reserve Bank of Australia on interest rates are of central concern.

 

 

Government and the Economy

The focus of this study is the role of government in a mixed economy. The main concepts are management of the economy, and problems and issues arising from the free operation of markets.