VCE Business Management Units 3&4

A summary of the revisions to the study design for 2020 only

Unit 3 Managing a Business

Please note that School-assessed Coursework for Unit 3 will now contribute 30 per cent to the study score, rather than 25%.

Unit 4 Transforming a Business

Please note that there have been several minor changes to Area of Study 1 Reviewing performance – the need for change, and many major changes to Area of Study 2 Implementing change.

Please refer to the adjusted study design for 2020 for specific changes to Unit 4, but in short;

  • A line of the Descriptor for the Unit has been changed
  • A line of the Descriptor for Area of Study 1 has been changed
  • A line of the Descriptor for Area of Study 2 has been changed
  • A line of the Descriptor for Outcome 2 has been changed
  • Key knowledge for Outcome 2 has been greatly reduced
  • One of the Key skills for Outcome 2 has been removed

Please note that School-assessed Coursework for Unit 4 will now contribute 20 per cent to the study score, rather than 25%.

Contribution to final assessment

School-assessed Coursework for Unit 3 will contribute 30 percent to the study score. (Total marks 100)

School-assessed Coursework for Unit 4 will contribute 20 percent to the study score. (Total marks 80)

External assessment – End of year examination will contribute 50 percent to the study score.

The end-of-year examination will now be two hours duration. No information on marking has been provided as yet. 

https://www.vcaa.vic.edu.au/Documents/vce/adjustedSD2020/2020BusinessManagementSD.pdf

Using Cambridge VCE Business Management, Units 3 and 4, Second Edition in 2020

These changes will impact on your teaching of chapters 14 to 16 of Cambridge VCE Business Management, Units 3 and 4, Second Edition. The following content is NOT required to be taught in 2020:

  • Chapter 14 (all)
  • Chapter 15 sections 15.1 and 15.3
  • Chapter 16 section 16.1. 

The study design revisions in more detail

What follows is an additional list of specific changes to the study design, in terms of deletions and changes to assessment, as well as a list of the Key knowledge for each Outcome and page numbers references for how we cover this curriculum content you should still be teaching in 2020 in the Cambridge textbook.

Unit 4 Transforming a Business

Descriptor now reads:

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 factors that influence the success of change. 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.

Deleted text: “a variety of strategies to manage change in the most efficient and effective way to improve business performance”. 

Area of Study 1 – Reviewing performance – the need for change.

Descriptor now reads:

In this area of study students develop their understanding of the need for change. Managers regularly review and evaluate business performance through the use of key performance indicators and use the results to make decisions concerning the future of a business. Managers can take both a proactive and reactive approach to change. Students consider current forces for change on a business. They apply Lewin’s Force Field Analysis theory to contemporary case studies and consider approaches to strategic management, using Porter’s (1985) Generic Strategies.

Deleted text: “investigate the ways a business can search for new business opportunities as a source of future business growth and “

Outcome 1

Please note: No change has been made to either the key knowledge or key skills related to this Area of Study.

Marks allocated – 50 marks (remain unchanged)

Area of Study 2 – Implementing change

Descriptor now reads:

In this area of study students explore how businesses respond to evaluation data. It is important for managers to know where they want a business to be positioned for the future before implementing a variety of strategies to bring about the desired change. Students consider the importance of leadership in change management, how leaders can inspire change. They apply the Three Step Change Model (Lewin) in implementing change in a business. Using a contemporary business case study from the past four years, students evaluate business practice against theory, considering how corporate social responsibility can be incorporated into the change process.

Deleted text: “….. and the effect change can have on the stakeholders in a business. They consider the principles of Senge’s Learning Organisation and …..”

Outcome 2

On completion of this unit the students should be able to evaluate the effectiveness of a variety of strategies used by managers to implement change.

To achieve this outcome the students will draw on key knowledge and key skills outlined in Area of Study 2.

Please note:  changes have been made to both the key knowledge and key skills related to this Area of Study.

Key knowledge

  • The importance of leadership in change management
  • Management strategies to respond to key performance indicators, including staff training, staff motivation, change in management styles or management skills, increased investment in technology, improving quality in production, cost cutting, initiating lean production techniques and redeployment of resources (natural, labour and capital)
  • Key principles of the Three Step Change Model (Lewin)
  • Corporate social responsibility considerations when implementing change
  • The importance of reviewing key performance indicators to evaluate the effectiveness of business transformation

Key skills

  • Define, describe and apply relevant business management concepts and terms
  • Research and analyse case studies and contemporary examples of business management applicable to managing change in a business
  • Interpret business information and ideas
  • Apply business management knowledge to practical and/or simulated business situations
  • Propose and justify strategies in response to key performance indicators and to assist in implementing change in a business

Marks allocated for Outcome 2 – 30 marks (previously 50 marks)