Key Concepts in VCE Business Management Units 1&2 5E eBookPLUS & Print + StudyOn VCE Business Management Units 1&2 (Book Code) Image

Key Concepts in VCE Business Management Units 1&2 5E eBookPLUS & Print + StudyOn VCE Business Management Units 1&2 (Book Code)

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ISBN: 9780730365662
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RRP: $89.95
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Jacaranda Key Concepts in VCE Business Management Units 1 & 2 5e Print & eBookPLUS + studyON
This combined print and digital title is the trusted market leader and has been updated with new content and contemporary case studies to engage students of all abilities and help them achieve exam success.

The latest editions from the Jacaranda Key Concepts in VCE Business Management series include these key updates:
• Brand-new contemporary case studies, alongside updates to existing data, statistics and references to ensure currency and relevance
• More Apply your skills subtopics in each topic which allow students to practice key Business Management skills
• More Extend your knowledge subtopics in each topic providing more opportunities to explore key knowledge in greater depth
• New exam practice questions in every topic and subtopic, with exemplary responses and mark allocations available in the teacher resource
• Jacaranda’s unique exam preparation tool, studyON, is now included free and fully integrated to help prepare students for their exams

An access code for the eBookPLUS comes free on the inside cover of your printed text, so you can make the most of both the print and digital formats.
 
 

How to use this resource vi

About eBookPLUS and studyON viii

About the authors ix

Acknowledgements xi

Unit Planning a Business 1

1 The business idea 3

1.1 Overview 3

1.2 BACKGROUND KNOWLEDGE Introduction to business 5

1.3 Identifying business opportunities 11

1.4 The personal motivation behind starting a business 16

1.5 Goal setting in business 18

1.6 Characteristics of successful business managers and business entrepreneurs 23

1.7 Business concept development 26

1.8 Market research and initial feasibility studies 29

1.9 APPLY YOUR SKILLS Feasibility studies 31

1.10 APPLY YOUR SKILLS Establishing a business 33

1.11 The contribution of businesses to the nation 35

1.12 EXTEND YOUR KNOWLEDGE Business contribution to the economy — Taxation revenue 40

1.13 Methods for fostering a culture of business innovation and entrepreneurship in a nation 42

1.14 EXTEND YOUR KNOWLEDGE Research and development 48

1.15 Review 50

2 Planning a business — external environment 56

2.1 Overview 56

2.2 Business environments 58

2.3 Key legal and government regulations 62

2.4 Societal attitudes and behaviours 67

2.5 EXTEND YOUR KNOWLEDGE Societal attitudes and behaviours 70

2.6 Economic conditions 72

2.7 Technological issues 76

2.8 Global issues 80

2.9 Corporate social responsibility issues 84

2.10 EXTEND YOUR KNOWLEDGE Corporate social responsibility and the triple bottom line 88

2.11 APPLY YOUR SKILLS Corporate social responsibility management practices 91

2.12 Customers and competitors 94

2.13 Suppliers and special interest groups 98

2.14 APPLY YOUR SKILLS Effect of factors from the external environment 101

2.15 Review 103

3 Planning a business — internal environment 110

3.1 Overview 110

3.2 Internal factors affecting business planning: resource needs 111

3.3 Business locations 114

3.4 Sources of finance 119

3.5 Purchasing an existing business or establishing a new business 125

3.6 Types of legal business structure: sole traders and partnerships 128

3.7 Types of legal business structure: companies 132

3.8 EXTEND YOUR KNOWLEDGE The right legal structure for the business 134

3.9 Types of business model 139

3.10 Business support services 146

3.11 EXTEND YOUR KNOWLEDGE Planning decisions and the internal environment 150

3.12 Planning tools and business plans 152

3.13 APPLY YOUR SKILLS Business plans and planning tools 157

3.14 Corporate social responsibility management issues regarding business planning 160

3.15 APPLY YOUR SKILLS Planning decisions in response to internal factors 164

3.16 Review 167

Unit 2 Establishing a Business 175

4 Legal requirements and financial considerations 177

4.1 Overview 177

4.2 Legal requirements 179

4.3 EXTEND YOUR KNOWLEDGE Legal requirements created by the three levels of government 190

4.4 Establishing bank accounts 195

4.5 Establishing financial control systems 197

4.6 Establishing record-keeping strategies 201

4.7 EXTEND YOUR KNOWLEDGE A basic record-keeping strategy — establishing a cash book 207

4.8 Choosing suppliers 210

4.9 Policies and procedures 214

4.10 APPLY YOUR SKILLS The need for policies and procedures 218

4.11 Technological and global issues 223

4.12 APPLY YOUR SKILLS Evaluate and justify decisions when establishing a business 229

4.13 Review 233

5 Marketing a business 238

5.1 Overview 238

5.2 Marketing, establishing a customer base and achieving business objectives 240

5.3 Internal and external environment factors affecting customer base and brand identity 247

5.4 Market research practices 250

5.5 Target market attributes — market dimensions and segments 255

5.6 Target market attributes — consumer trends and behaviour 258

5.7 The 7Ps of marketing: product and price 262

5.8 The 7Ps of marketing: place and promotion 268

5.9 The 7Ps of marketing: people, physical evidence and process 272

5.10 APPLY YOUR SKILLS You’ve got the product but no-one knows about it yet! 275

5.11 EXTEND YOUR KNOWLEDGE The target market and the marketing mix 277

5.12 The product life cycle 278

5.13 Customer relations strategies 284

5.14 An overview of public relations and its relationship to business objectives 286

5.15 Public relations strategies 291

5.16 APPLY YOUR SKILLS Achieving success in public relations 297

5.17 EXTEND YOUR KNOWLEDGE When things don’t go according to plan 300

5.18 Corporate social responsibility issues in establishing a customer base 302

5.19 APPLY YOUR SKILLS Establishing a customer base, marketing and establishing positive public relations 306

5.20 Review 308

6 Staffing a business 316

6.1 Overview 316

6.2 Staff performance and achieving business objectives 318

6.3 Identifying staffing needs 320

6.4 The effect of technological development on staffing needs 323

6.5 Job analysis and job design 325

6.6 Recruitment methods 328

6.7 Selection methods 330

6.8 APPLY YOUR SKILLS Recruitment and selection 334

6.9 Employment arrangements 336

6.10 Employer expectations 339

6.11 Employee expectations — conditions of employment, remuneration and work–life balance 342

6.12 Employee expectations — job security 345

6.13 Legal obligations for staffing 348

6.14 EXTEND YOUR KNOWLEDGE Maintaining a healthy workplace 354

6.15 Employee induction 356

6.16 Global issues related to establishing staffing 358

6.17 Corporate social responsibility management in relation to staffing 361

6.18 EXTEND YOUR KNOWLEDGE Researching issues in staff management 363

6.19 APPLY YOUR SKILLS Gender equality in the workplace 365

6.20 Review 368

Glossary 374

Index 382