Advanced Certificate in Business Management
Business, Commerce and Management Studies - Generic Management
Purpose and Rationale
Purpose:
The purpose of the Higher Certificate in Business Management is to:
- Introduce learners in the workplace to general business management theories and introductory management competencies.
- Enable learners to assist management in analysing business processes.
- Provide an industry-accepted qualification for learners specializing in Risk Management.
- Offer a career option for learners without a formal qualification in management.
- Equip learners who have theoretical knowledge of Management with practical application skills.
Rationale:
The rationale behind the Higher Certificate in Business Management includes:
- Customization of short learning programs to cater to industry needs and provide relevant skills.
- Association of career-oriented programs with industry-specific learning to meet industry demands.
- Facilitation of access to learning through manageable programs in terms of cost, time, energy, and resources for both employers and employees.
- Targeting specific adult learners to enhance skills and knowledge in the workplace.
- Subjecting the programs to the institution's quality assurance processes to ensure standards are met.
Outcomes
- Describe, explain and illustrate managerial theories applicable in the specific business environment.
- Describe strategic management concepts and analyse the business environment.
- Provide an overview of motivational theories and the management of conflict in the workplace.
- Communicate and write reports in a business environment.
- Illustrate basic management accounting principles.
- Compare financial statements and make recommendations.
- Use performance management theories in evaluating the performance of a team/organisation.
- Explain basic labour relation principles.
- Use basic project management tool and techniques.
- Analyse the market environment through the application of marketing theories.
Assessment Criteria
Managerial Theories: In a retail business environment, managers can apply the contingency theory which suggests that there is no one best way to manage a business. Managers need to adapt their style to fit the situation at hand, whether it be customer service, inventory management, or employee relations.
Basic Accounting Principles: In the retail business, basic accounting principles such as the matching principle, revenue recognition principle, and the principle of conservatism can be applied to ensure accurate financial reporting. These principles help in recording transactions, preparing financial statements, and making informed business decisions.
Strategic Management Concepts: A retail business can use SWOT analysis, Porter's Five Forces analysis, and PESTLE analysis to evaluate their business environment. These strategic management concepts help in identifying strengths, weaknesses, opportunities, threats, industry competition, and external factors affecting the business.
Motivational Theories and Conflict Management: Motivational theories such as Maslow's Hierarchy of Needs, Herzberg's Two-Factor Theory, and Expectancy Theory can be applied to boost employee morale and productivity in a retail business. Effective conflict management strategies like active listening, compromise, and collaboration can help resolve conflicts among employees and teams.
Communication and Writing Skills: Effective communication and writing skills are essential in a retail business environment for clear customer communication, employee instructions, and business correspondence. Managers need to ensure that communication is clear, concise, and tailored to the audience.
Financial Status: Regular financial reporting and analysis are crucial to understanding the financial status of a retail business. Key financial indicators such as revenue, expenses, profit margins, and cash flow should be monitored to make informed financial decisions.
Labour Relations Principles: Basic labour relation principles such as fair compensation, workplace safety, and employee rights should be upheld in a retail business to maintain a positive work environment and avoid labor disputes.
Project Management Tools and Techniques: Project management tools like Gantt charts, milestone tracking, and project scheduling can be used in a retail business to achieve project deliverables such as store renovations, marketing campaigns, and inventory management improvements.
Marketing Theories: Marketing theories such as the marketing mix (4Ps), consumer behavior analysis, and market segmentation can be used to review the market environment and develop effective marketing strategies in a retail business. Understanding customer needs, preferences, and market trends is essential for business growth and success.
Qualification Details
- Type
- Advanced Certificate
- NQF Level
- 06
- Min. Credits
- 120
- SAQA Source
- More Information
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This page includes information from the South African Qualifications Authority (SAQA) . Builtneat Pty Ltd trading as Study Start, has modified all or some of this information. SAQA has not approved, endorsed, or tested these modifications.