key business functions criteria

Business Studies Stage 6 Syllabus 8.2 Preliminary topic 2: Key Business Functions 

30% of indicative time The focus of this topic is to analyse key functions of business, examining their interrelationship and role in the success of the business. 

Outcomes 

The student: P2.1 assesses the role, importance and interdependence of key business functions in 

the operation of a business P2.2 discusses the relationship between business planning and business operations P3.2 explains the responsibilities of business to internal and external stakeholders P4.1 explains the interrelationship between the internal and external factors on 

business P5.1 selects, organises and evaluates information and sources for usefulness and reliability P5.3 communicates business information, ideas and issues, using relevant business terminology and concepts in appropriate forms P5.5 works independently and in groups to achieve appropriate goals in set timeframes P5.6 applies mathematical concepts appropriately in business situations. 

Content 

Students learn to: 

use existing business case studies to investigate and communicate ideas and issues related to key business functions. The focus of these case studies will be to: 

• use an annual report of a public company to identify issues of significance relating to business functions 
• prepare and present an individual or group report on the key functions of a business. 

Students learn about: 

interdependence of business functions 

• identifying business functions — relationship to value chain 

• coordinating business functions 

• planning and controlling 
• functional and market structures 
• division of labour 
• span of control 
• chain of command 
• interrelationship between business functions 

• the role of operations • organising operations 

• purchasing/supply chain management 
• rostering and scheduling 
• task design, plant/office layout, warehousing 
• technology, robotics, CAD/CAM (computer aided design and computer aided manufacture) 
• control including inventory control and quality management 
• records management 

employment relations 

• the role of employment relations 

• the human resource cycle 

• acquisition — identifying staffing needs, recruitment, selection 
• development — training, development and maintenance of databases 
• maintenance — monetary/non monetary benefits 
• separation — voluntary/involuntary 

• rights and responsibilities 

labour contract 

Equal Employment Opportunity (EEO) 

Anti-Discrimination 

Affirmative Action 

Occupational Health and Safety (OH&S) 

marketing 

• the role of marketing 
• identification of the target market • overview of the marketing mix — product, price, promotion, place 

accounting and finance 

• the role of accounting and finance 
• sources and uses of funds — debt, equity 

• preparation of elementary financial statements 

• revenue statement 
• balance sheet 
• cash flow statement 
• key uses of financial statements 
• budgets as planning tools. 

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