HSC Business Studies

Topic 1: Nature of Business

Nature of Business 

• The Nature of a Business

• Producing Goods and Services

• Profit and Business Survival

• Employment, Incomes and Choice

• Innovation and Entrepreneurship

• Risk, Wealth and Quality of Life

• Classification by Size

• Classification by Geographic Spread

• Classification by Industry

• Classification by Legal Structure

• Sole Traders

• Partnerships

• Private Companies

• Public Companies

• Government Enterprises

• Choosing a Legal Structure

• External Influences on Business

• Economic Influences

• Financial Influences

• Geographic Influences

• Social Influences

• Legal Influences

• Political and Institutional Influences

• Technological Influences

• Competitive Situation and Markets

• Internal Influences on Business

• Business Products

• Business Location

• Business Resources

• Management and Business Culture

• Internal and External Stakeholders

• Stakeholder Interests

• Stakeholder Conflict

• Stakeholder Responsibilities

• The Business Life Cycle

• Establishment Stage

• Growth Stage

• Maturity Stage

• Post-Maturity Stage

• Responding to Challenges at Each Stage

• Factors Contributing to Business Decline

• Voluntary and Involuntary Cessation

• Nature of Business Case Study Practice

Topic 2: Business Management

• Business Management Hub

• Features of Effective Management

• Interpersonal Skills

• Communication Skills

• Strategic Thinking and Vision

• Problem-Solving and Decision-Making

• Flexibility and Adaptability to Change

• Reconciling Conflicting Stakeholder Interests

• Types of Business Goals

• Profit Goals

• Market Share Goals

• Growth Goals

• Share Price Goals

• Social Goals

• Environmental Goals

• Achieving a Mix of Business Goals

• Staff Involvement

• Classical Management Approach

• Hierarchical Organisational Structure

• Autocratic Leadership Style

• Behavioural Management Approach

• Teams in Management

• Participative and Democratic Leadership

• Contingency Approach

• Comparing Management Approaches

• Coordinating Key Business Functions and Resources

• Operations Function

• Production Process

• Quality Management

• Marketing Function

• Identifying the Target Market

• Marketing Mix

• Finance Function

• Cash Flow Statement

• Income Statement

• Balance Sheet

• Human Resources Function

• Recruitment

• Training

• Employment Contracts

• Separation

• Ethical Business Behaviour

• Responding to Internal and External Influences

• Identifying the Need for Change

• Business Information Systems

• Setting Achievable Goals

• Resistance to Change

• Management Consultants

• Managing Change Effectively

• Business Management Case Study Practice

Topic 3: Business Planning

• Business Planning Hub

• Definition of SMEs

• Role of SMEs

• Economic Contribution of SMEs

• Success and Failure of SMEs

• Personal Qualities of Business Owners

• Sources of Information

• The Business Idea

• Competition

• Establishment Options

• Starting a New Business

• Buying an Existing Business

• Franchising

• Market Considerations

• Goods and Services in a Business Plan

• Price Decisions

• Location Decisions

• Finance Considerations

• Legal Considerations

• Human Resource Considerations

• Taxation

• Government Influence on SMEs

• Changes in the Business Environment

• Purpose of a Business Plan

• Sources of Planning Ideas

• Situational Analysis

• Vision

• Goals and Objectives

• Long-Term Growth

• Organising Resources

• Organising Operations Resources

• Organising Marketing Resources

• Organising Finance Resources

• Organising Human Resources

• Revenue and Cost Forecasting

• Break-Even Analysis

• Cash Flow Projections

• Monitoring and Evaluation

• Monitoring Sales

• Monitoring Budgets

• Monitoring Profit

• Taking Corrective Action

• Importance of a Business Plan

• Management: Staffing and Teams

• Trend Analysis

• Identifying Competitive Advantage

• Sustaining Competitive Advantage

• Avoiding Over-Extension

• Using Technology

• Economic Conditions

• Entering the Global Market

• Business Planning Case Study Practice

Business Plan Project Pages

• Small Business Plan Task Hub

• Business Plan: Executive Summary

• Business Plan: Business Description

• Business Plan: Situational Analysis

• Business Plan: Operations Plan

• Business Plan: Marketing Plan

• Business Plan: Finance Plan

• Business Plan: Human Resources Plan

• Business Plan: Evaluation and Corrective Action