Critical Cross-field Outcomes:
1. Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made.
2. Work effectively with others as a member of a team, group, organisation and community.
3. Organise and manage oneself and one's activities responsibly and effectively.
4. Collect, analyse, organise and critically evaluate information.
5. Demonstrate an understanding of the world as a set of related systems by recognising that the problem-solving context does not exist in isolation.
6. Reflect on and explore a variety of strategies to learn more effectively.
7. Explore business and career opportunities.
8. Develop entrepreneurial opportunities.
9. Look at the environment on a macro basis rather than a micro basis in order to enhance the current environment.
10. Communicate effectively using visual, mathematical and language skills in the modes of oral and / or written persuasion.
11. Demonstrate an understanding of the economic world in context as a dynamic interactive world that does not exist in isolation.
12. Demonstrate effective and responsible decision-making.
13. Stimulate and develop thinking patterns involving creativity.
14. Interpret information received via the media and other sources.
15. Remain receptive and responsive to current trends and developments.
16. Use technology effectively and responsibly.
17. Conduct research independently.
Specific Outcomes:
1. Economics
Ability to:
Describe the theory of demand and supply;
Describe how the total economic activities are measured;
Describe the economics and dis-economics of scale;
Describe the market structure and define terms such as perfect competition, monopoly, monopolistic competition and oligopoly);
Describe the law of diminishing utility;
Describe the law of diminishing returns;
Identify the macro-economic variables;
Explain economic equilibrium in two, three and four sector models;
Define terms consumption, the multiplier, aggregate demand, aggregate supply, credit creation;
Describe the functions of money and explain the demand for money (liquidity preference);
Explain the relationship between inflation and unemployment and their impact on the economy;
Discuss the advantages and disadvantages of direct and indirect taxes;
Describe the meaning of fiscal policy;
Define the term monetary policy and explain the instruments of monetary policy;
Describe the concept of economic growth;
Describe terms such as protectionism, balance of payments, exchange rate;
Explain various exchange rate systems.
2. Financial Accounting I:
Ability to:
Demonstrate understanding of the double-entry system of accounting.
Describe the classification of and accounting for capital, assets, liabilities, expenses and income.
Describe the distinction between revenue and capital expenditure;
Illustrate the accounting equation;
List the books of original entry;
Record repetitive transactions in the books (journals) of prime entry and posting to the general ledger;
Extract a trial balance;
Describe the concepts of matching, prudence, consistency and going concern;
Explain how accruals and prepayments are entered;
Describe and illustrate the various methods of stock valuation (Range: FIFO method, LIFO method, weighted average method, and the lower of cost or net realisable value)
Define the term depreciation;
Explain the various depreciation methods (Range: straight-line, reducing balance, revaluation, and sum of the digits);
Explain how fixed assets are disposed of;
Describe bad debts, bad debts recovered;
Explain how to provision for doubtful debts and provision for discount;
Demonstrate the preparation of financial statements;
- Sole traders (Range: trading account, year-end adjustments, closing entries, income statement and balance sheet;
- Associations not for gain (for example, clubs) - receipts and payments account, year-end adjustments, income statement and balance sheet;
Reconcile a bank statement;
Write up and reconcile debtors and creditors control accounts with debtors and creditors ledgers;
Make adjustments (Range: errors of principle, omission, commission and original entry, and compensating errors);
Prepare departmental income statements;
Prepare inter-departmental transfers;
Allocation departmental expenses;
Describe partnership accounts and define terms (Range: Appropriation accounts, interest on capital and drawings, salaries paid to partners, sharing of profit or loss fixed and fluctuating capital accounts and current accounts;
Prepare a simple cash flow statement in respect of a sole trader (Range: capital introduction, profit, drawings, loans raised and repaid, increases and decreases in working capital, purchase and disposal of assets);
Describe the presentation of manufacturing statements and define terms (Range: elements of costs, stock valuation, unit costs, mark-up percentage, work in progress, sales of raw materials, allocation of expenses);
Prepare departmental income statements;
Prepare inter-departmental transfers;
Allocation of departmental expenses;
Describe partnership accounts and define terms (Range: Appropriation accounts, interest on capital and drawings, salaries paid to partners, sharing of profit or loss fixed and fluctuating capital accounts, and current accounts;
Prepare a simple cash flow statement in respect of a sole trader (Range: capital introduction, profit, drawings, loans raised and repaid, increases and decreases in working capital, purchase and disposal of assets);
Describe the presentation of manufacturing statements and define terms (Range: elements of costs, stock valuation, unit costs, mark-up percentage, work in progress, sales of raw materials, allocation of expenses);
3. Information systems and technology (Concepts of management computing)
Ability to:
Define management information systems and the way it provides information for decision-making at different management levels;
Define, discuss and demonstrate a working knowledge of the different aspects of computer hardware and software fundamentals;
Describe and demonstrate the use of files, databases and the processing and storage of data;
Demonstrate a working knowledge of basic computer terminology;
Demonstrate the ability to develop and implement a computer system;
List the provisions of the 1983 Computer Evidence Act.
4. Business Communications
Ability to:
Give a broad definition of communication with special reference to the interpersonal communication process in the business environment;
Distinguish between verbal and non-verbal communication;
Describe the interpersonal communication process and a basic interpersonal communications model, including reference to the message, code, feedback and interference;
Describe mass communication as a process, with reference only to the way in which it differs from the interpersonal communications process;
Outline of development and functions, advantages and disadvantages of mass media;
Describe the different types of non-verbal communication;
Describe organisational communication, the grapevine, internal communications media, external communications media;
Identify communication barriers (Range: Physical, Physiological, Psychological, Semantic);
Define verbal communications (Range: register, style, tone);
Analyse using practical communication situations;
Deal with business correspondence. Range:
- Concise formats (telephone messages, telegrams, telexes, formal invitations and accepting / declining these, bulletin board notices, and so on)
- Memorandum (inter-office and inter-departmental)
- Letters of enquiry and replies to these
- Letters of complaint and adjustment.
- Letters of invitation to VIPs.
- Sales promotion / marketing through circulars.
- Application with / without curriculum vitae.
- Letters of appointment / resignation.
- Testimonials / references.
- Letters to the press.
- Letters of goodwill / introduction.
Prepare and advertisement. Range:
- The AIDA formula.
- Factual, emotive and persuasive advertising.
- Advertising ethics and the Advertising Standards Authority.
- Classified ('smalls')
- Display advertisements (including those featuring employment opportunity)
- Mail drops (leaflets, brochures, circulars).
- Press releases.
Prepare and chair meetings. Range:
- Notice, agenda and minutes of organisations not for gain.
- Annual general meeting.
- Special / extraordinary general meetings.
- Executive / committee meetings.
- Knowledge of basic meeting procedure applicable to the appointment, rules of debate - proposals and amendments, seconding, motions, replies, point of order, voting, adjournment / closing, and so on, excluding proxies - and relevant terminology.
- Holding of mock meetings.
Prepare written reports. (Range: Formal and semi-formal (memorandum or letter form) reports, Summary (investigation), progress, attendance and annual reports, Graphic representations, Questionnaires, Objective scientific writing).
Answer a telephone.
Conduct an interviewing.
Conduct a public performance. (Range: introduction, announcements, welcoming speeches, proposing toasts, presentation of reports, formal speeches.
5. Management 1
Ability to:
Explain the role of the business organisation and management in satisfying people's needs;
Describe what the management process entails and how it enables organisations to achieve their goals;
Describe the different levels and kinds of managers in an organisation;
Explain the skills required of management and how the skills are acquired;
Describe the scope of management and its challenges;
Describe the concepts of systems theory;
Describe the composition and characteristics of the management environment;
Describe the internal and micro-environment including the different levels of management in the enterprise; the managerial skills required at the various levels;
Explain the market or task environment; and macro-environment;
Understand the interface between the enterprise and the environment including change, competition and crisis;
Explain ways in which management reacts to the environment;
Understand the importance of planning;
Explain the development of organisational goals as s step in the planning process;
Understand the impact of planning premises;
Describe the nature and specifications of organisational goals;
Explain the process of goal setting; the management of multiple goals and the techniques for goal setting for the individual organisation with special emphasis on the process, benefits and weaknesses of MBO.
Understand the importance of planning;
Identify and discuss the different kinds of organisational plans and explain the time frame for planning;
Explain the steps in the planning process;
Identify barriers to effective planning and know how to overcome these barriers;
Identify and discuss important planning tools;
Discuss the concept of strategic planning;
Describe the strategic planning process;
Explain the levels of strategy;
Explain each component of the strategic planning process and discuss behavioural considerations affecting strategic choice;
Define an information system and identify the components of an information system
Describe a classification of information systems
Describe the steps in developing an information system
Understand the term 'organising" in the management sense and describe how organising fits in with other functions in the management process;
Describe the designing of the structure of an organisation and describe the use and limitations of the various kinds of structures;
Understand how authority ties into management;
Distinguish between various types of power
Do an analysis of delegating and understand the link between authority, centralisation and decentralisation;
Explain the importance of co-ordination;
Highlight the aspects of job design;
Define the major types of managerial decisions and explain conditions under which managers make decisions;
Describe the rational model of decision-making;
Discuss the techniques for improving group decision-making;
Explain quantitative tools for decision-making;
Discuss the importance of leadership as a fundamental management function and explain the nature and components of leadership;
Participate in the leadership versus management debate
Examine different leadership models in an effort to throw light on the essence of leadership;
Discuss the contemporary perspectives on leadership;
Review the interfaces between leadership and organisational politics
Explain what motivation encompasses and explain the different motivational theories;
Explain the role of money as a motivator;
Describe how to create jobs that motivate;
Describe the difference between groups and teams and the reasons why people form teams;
Describe the different types of groups found in an organization;
Describe the stages in group development and appropriate leadership styles;
Explain the emergence of group characteristics and describe intergroup dynamics;
Discuss how to develop groups and teams;
Understand the importance of control as the final component of the management process and explain the focal points of control;
Illustrate the relationship between control and planning and hence the cycle of the management process;
Understand the difference between planned and reactive change;
Describe the forces for change and the types of change;
Explain the change process;
Understand resistance to change and to overcome it;
Describe the methods to introduce change;
Understand the relationship between culture and change.
6. Management II
Ability to:
Define and explain the scope of the following functions using work-related examples;
Marketing;
Operations;
Purchasing;
Financial;
Human resources;
Public relations;
Explain the nature and attributed of information and data and the managers need for these;
Demonstrate a working knowledge of computer systems;
Identify, define and explain the terms "business ethics" and "social responsibility" and the relationship / balance between them.
7. Principles of Law
Ability to:
Define the concept of law;
Relate the purposes and functions of law;
Describe real rights and personal rights;
Define the concept of legal personality;
Explain the various forms of business enterprise
Identify the sources of SA law;
Differentiate between the various SA courts and the jurisdiction of these courts;
Describe the doctrine of precedence;
Explain legal procedures and practitioners;
Describe the divisions of law in SA
Identify the basic legal principles that feature in all contracts;
Explain how and when a contract is created and the rules that apply to all contracts;
Demonstrate the difference between void and voidable contracts;
Describe the conditions that may attach to a contract;
Describe contracts in restraint of trade;
Define the meaning of contracts for the benefit of third parties;
Define cession, delegation and assignment;
Explain how a contract can be breached and the remedies for breach of contract;
Describe the ways in which a contract may be terminated; and
Describe the rules relating to misrepresentation in delict.
8. Marketing Management I
Describe and define marketing.
Describe the place of marketing within the organisation.
Describe the marketing concepts.
List and briefly explain the marketing mix.
Describe the tasks and the organisation of a marketing department.
Define market segmentation, target marketing and product positioning.
Describe the basis for market segmentation.
Apply and discuss the market segmentation process.
Describe the variables of the marketing environment.
Describe the Interaction between the variables in the environment.
Identify the components of a marketing information system and the sources of information for marketing managers.
Explain the market research process using suitable work based examples.
Identify the factors affecting consumer behavior.
Demonstrate the consumer decision-making process and the participants in the process.
Discuss the Nature and development of consumerism.
Define a product.
Classify products.
Discuss the planning and development of new products.
Discuss the stages in the product life cycle;
Identify decisions regarding the product mix and product ranges.
Describe trademark (brand) and packaging decisions.
Describe the selection and management of distribution channel and structure.
Describe the steps in managing the distribution channel and briefly explain aspects of the management of physical distribution.
Describe the use of Intermediaries and their right of existence.
Describe the pricing process and various approaches to and factors affecting pricing.
Explain the meaning of price.
Identify the needs and types of pricing policies.
Describe the nature of marketing promotion and the components of the promotions mix.
Define the roles of advertising, sales promotion, public relations and personal selling in the promotion mix.
Identify the important elements of marketing communication.
Describe advertising as an important element in marketing communication, especially with regard to the formulation of advertising message, managing the advertising campaign and the role of the advertising practitioner.
Explain how sales promotion campaigns are developed and implemented.
Explain ho companies use public relations to communicate with their publics.
Describe the strategic marketing process.
9. Marketing Management II
Explain the strategy for cultural change and the consequences.
Describe the obstacles to business transactions in international marketing.
List and explain the ten basic criteria that international marketers should meet when dealing with international firms.
Discuss the influences of culture on the methods of doing business.
Describe the effects of disparate business on international marketing.
Describe the effect of high context cultures and low context cultures on conducting business.
Explain ways in which international marketers can ensure that they remain ethically and socially responsible in their behavior.
Discuss the factors that create stability or instability on prevailing government policies of a country.
Explain the political risks that can impact on the performance of business activities.
Describe the risks and controls associated with the investments in foreign markets.
Describe the ways in which businesses can protect their investment in foreign markets and limit political risk.
Explain the four sources of law (heritages) that form the basis for the majority of legal systems of the world and the impact on the international marketer.
Explain the three situations where legal disputes can arise.
Explain the three methods of dispute resolution available to the international marketer.
Describe the problems that companies face protecting intellectual property rights and ways in which these can be protected through international agreements.
Describe the differences between countries that affect international marketing plans.
Explain why the international marketer must be aware of green marketing legislation.
Describe the scope of international marketing research.
Analyse the three basic differences between domestic and foreign market research.
Describe, using an example, the market research process.
Explain the problems that may be encountered with secondary data.
Describe the methods for gathering primary data and the problems associated with the collection process.
Explain how the Internet can assist with research.
Describe the problems associated with analysing and interpreting research information.
Explain how to analyse and use research information.
Describe the functions of multinational marketing information systems.
Analyse the differences between international marketing and global marketing.
Describe the benefits of global orientation.
Describe the international planning process using a product/company of your choice.
Describe the importance of international alliances to a firm going international.
Explain the importance of planning to achieve company goals.
Explain the various alternative market-entry strategies.
Explain the various ways in which a company can structure itself to maximize international potential.
Describe why it is important to offer a product that is suitable for the intended market.
Describe the current thoughts on standardised products versus differentiated products.
Discuss the relationship between product acceptance and the market into which it is introduced.
Describe the importance of quality and how quality is defined.
Describe the country of origins effect on product image.
Describe the physical, mandatory and cultural requirements for product evaluation.
Describe the components of a product using an example, and how it is necessary to view all the attributes of the product to overcome resistance to its acceptance.
Describe the growing importance of greening products.
Describe the various distribution channels and how they affect the cost and efficiency of marketing.
Describe the Japanese distribution structure and its impact on consumers and importers.
Discuss the impact of distribution patterns on the various aspects of international marketing.
Discuss the various options that the international marketer has to choose in respect of channels, locally as well as internationally.
Explain the functions, advantages and disadvantages of various middlemen.
Describe the importance of middlemen to a product's success and the importance of selecting and maintaining middlemen.
Explain factors that affect the choice of channels.
Describe the importance of e-commerce as a distribution alternative.
Describe the local market characteristics that affect the advertising and promotion of products.
Define modified advertising and explain when modified advertising is necessary.
Explain the creative challenges placed on advertising.
Discuss the various considerations that must be made when advertising internationally.
Discuss the Internet as an emerging medium for advertising globally.
Discuss the effect of limited media, excessive media, paper shortages, equipment shortages and government regulations on advertising and promotion budgets.
Describe the strengths and weaknesses of sales promotion in global marketing.
Explain the international communications process and how this impacts on the received message.
Describe the components of pricing and the factors that affect pricing.
Describe the factors that cause prices to escalate.
Explain the three ways manufacturers can lessen price escalation.
Explain what a foreign trade zone it and how these can be used to lessen price escalation.
Explain how to control pricing in parallel imports or gray markets.
Explain how counter trade works and how this can give a company the competitive advantage.
Discuss the benefits of intra-company pricing strategies.
Explain the requirements for price quotations in international sales.
Define industrial marketing.
Classify industrial products.
Define the two types of market organization.
Discuss the categories of industrial (business) products.
Compare the industrial buying process with the consumer buying process and identify the differences in the processes.
Identify and explain the rational buying techniques used by industrial buyers.
Identify the major factors that influence business buyer behavior.
Identify the participants in the business buying process (buying centre).
Describe the business buying process using an example.
Describe the factors that affect the choice of distribution channel.
Explain the various ways in which industrial selling occurs.
Identify the role of the sales person in industrial selling.
Describe how a marketer can forecast sales and the factors that affect the forecasting process.
Describe the considerations made when pricing industrial products.
Explain the relationship between costs, profit and price.
Explain how the use of price incentives can attract business customers.
Explain 4 ways in which industrial markets can be segmented.
Define industrial market research and describe the differences between consumer market research and industrial market research.
Describe the main techniques used to source primary data.
Illustrate a typical organisational structure of an industrial organisation.
Describe the process of developing an industrial marketing strategy.
Identify the ways in which a company can market industrial products to the government sector.
Define a product in terms of tangibility and intangibility.
Describe the relationship between the product and service.
Analyse a product in terms of core product, actual product and augmented product.
Describe the nature and characteristics of a service.
Describe the strategies that can be used for service firms to manage the service characteristics.
Describe the challenges and considerations when marketing services internationally.
10. Statistics
Ability to:
Describe the methods for collecting data.
Describe the methods for classifying data.
Describe the methods for tabulating data.
Describe the term median and be able to calculate a simple weighted average.
Prepare simple commercial graphs and charts (Range: pie, budget and historiograms)
Describe smoothing of graphs and how this impacts on forecasting.
Demonstrate understanding of simple correlation and regression analysis.
Describe the elementary probability theory.
List some sources of published statistics and describe how these statistics are interpreted.
11. Accounting and Finance
Ability to:
Describe the components of financial statements.
Demonstrate the double entry principle
Write up the general journal.
Post from the general journal to the general ledger.
Extract a trial balance.
Describe various accounting concepts.
List and explain the different types of accounting records.
Describe a method of stock control.
Describe debtors and creditors control accounts.
Reconcile statements.
Describe budgetary control.
Describe break-even analysis.
Describe the preparation of financial statements.
Analyse financial statements. |