A). 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 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 understanding of the economic world in context as a dynamic interactive world that does not exit 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
B). Specific outcomes:
1. Management III
Ability to:
List all the resources available to management and explain how to utilise these to the maximum potential
Demonstrate, using work related examples, how technological change impacts on resource allocation
Explain the role of the chief executive in key management functions
Explain factors which necessitate change in an organisation and how to manage transformation in an organisation
List and explain the various systems and measures available to generate information and to measure and monitor performance within the undertaking
Discuss, using practical examples, the major issues confronting managers in South Africa today
2. 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
3. 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, leans 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 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)
4. 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 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 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
5. Business Communications
Ability to:
Give a broad definition of communications 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 (Range: Vertical, horizontal, diagonal, small group 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 interdepartmental)
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 interview
Conduct a public performance. (Range: introduction, announcements, welcoming speeches, proposing toasts, presentation of reports, formal speeches)
6. Management I
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 a 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 systems 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 fobs 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 organisation
Describe the stages in group development and appropriate leadership styles
Explain the emergence of group characteristics and describe inter-group 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
7. 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 attribution of information and data and the managers' need for these
Demonstrate working knowledge of computer systems
Identify, define and explain the terms "business ethics" and "social responsibility" and the relationship / balance between them
8. 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.
9. 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 behaviour.
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.
10. 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 behaviour.
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.
11. Marketing Management III
Ability to:
Describe the core concepts in marketing
Marketing management
Describe the relationship between marketing and society
Identify the strategic decisions and their integration in terms of corporate decisions, business merit decisions and marketing decisions
Describe analytical methods for strategic decisions
Identify environmental decisions relating to the market, competition, the marketing strategy, technology and environment as part of strategic decisions
Discuss the various product/market unit strategies with regards to developing products strategies, introduction of growth strategies and maturity and decline strategies
Identify marketing mix decisions regarding product, price, place, promotion
Describe the application of strategic process with regards to developing the marketing plan
Discuss the implementation of the marketing strategy and the control thereof
12. Market Research
Ability to:
Define information
Explain the role of information management
Define a marketing information system and describe its components
Design a marketing information system to gather, assess and analyse information
Investigate and report on the techniques used for measuring and forecasting market demand
Define marketing research
Discuss each of the steps in the marketing research process
Identify sources of primary and secondary data suitable for research
Design a market research plan and carry out market research
13. Marketing Communications:
Illustrate the role of promotion in the marketing mix and why it is important
Show why a marketing manager sets specific objectives to guide the advertising efforts
Describe why various kinds of advertising are needed
Show how to choose the best medium
Explain how to plan the most suitable message (the copy thrust)
Demonstrate understanding of legal boundaries in advertising
Understand the importance and nature of personal selling
Describe the strategic interpersonal communications in personal selling
Describe how you would manage personal selling efforts
Describe the importance of sales promotion
Describe the struggles for channel control
Demonstrate how you would control promotional effectiveness
14. 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
15. 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. |
