Bachelor of Commerce Honours in Small Business Management

Methods and Procedures in Commerce Field

Typical methods and procedures involved in the commerce field include market research, financial analysis, strategic planning, sales and marketing techniques, supply chain management, and customer relationship management.

Diagnosing and Analysing Commerce and Small Business Management Situations

In complex and uncertain commerce and small business management situations, it is important to conduct a thorough analysis of the situation, consider various factors such as market trends, competition, financial performance, and operational challenges, and then provide credible and practical solutions relevant to the specific work context.

Engaging with Contemporary Trends and Issues in Small Business Management

To critically engage with contemporary trends and issues in small business management, one must stay updated on industry news, attend relevant conferences and workshops, network with industry professionals, and continuously seek opportunities for professional development.

Formulating Management Strategic Policies

Formulating coherent management strategic policies involves consulting with other stakeholders, conducting a SWOT analysis, setting clear objectives, developing action plans, and monitoring progress towards achieving strategic goals.

Consequential Impacts on Society of Participating in a Developing Economy

Participating in a developing and growing economy can have both positive and negative impacts on society. Positive impacts may include job creation, economic growth, and improved living standards, while negative impacts may include income inequality, environmental degradation, and social disruption.

Applying Code of Ethical Behaviour in Commerce

Applying the code of ethical behaviour in commerce involves making decisions and taking actions based on appropriate management and entrepreneurial values such as honesty, integrity, transparency, and respect for stakeholders.

Leading Processes and Implementing Systems in Small Business Management

Leading processes and implementing systems in small business management requires strong leadership skills, effective communication, strategic thinking, and the ability to motivate and empower team members to achieve organizational goals.

Challenges in Resource Allocation

Challenges in resource allocation can arise due to limited financial resources, competition for resources, changing market conditions, and ineffective decision-making. Developing solutions based on evaluation and analysis is crucial to effectively allocate resources and optimize performance.

Creating Small Business Management Strategies

Creating small business management strategies involves identifying key objectives, analyzing internal and external factors, developing actionable plans, implementing strategies, and monitoring and adjusting strategies based on performance metrics.

Scope of Responsibilities in Small Business Management

Recognizing the scope of responsibilities required in a small business management/owner position involves overseeing all aspects of the business including operations, finance, marketing, human resources, and compliance with regulations.

Networking and Building Alliances

Networking, gaining allies, and gathering organizational power are essential for small business owners to expand their professional network, build relationships with key stakeholders, and leverage resources and opportunities for business growth.

Specialised Knowledge and Expertise

Understanding and applying specialized knowledge or expertise in areas such as finance, marketing, operations, or technology is crucial for small business owners to make informed decisions, drive innovation, and gain a competitive advantage in the market.

Scholarship and Research Abilities

Demonstrating advanced scholarship and research abilities involves conducting in-depth research, analyzing data, synthesizing information, and generating new insights or solutions to complex business problems.

Communication Skills in Marketing Discourses

Using a range of advanced and specialized skills in marketing discourses to communicate to a range of audiences involves creating compelling marketing messages, engaging with customers through various channels, and measuring the effectiveness of marketing campaigns.

Academic and Professional Discourse

Using resources of academic and professional discourse to communicate and defend ideas and products of research in a specialized area involves citing relevant literature, engaging in scholarly debates, presenting research findings in a clear and persuasive manner, and adhering to academic standards.

Integrated Assessment

Integrated assessment methods include individual written assignments, oral and written group assignments, class presentations, research projects, and work-based assignments that require learners to apply theoretical frameworks to recommend solutions to identified problem areas in their work context.

By mastering these methods and procedures, diagnosing complex situations, engaging with contemporary trends, formulating strategic policies, applying ethical behavior, leading processes, allocating resources effectively, creating management strategies, understanding responsibilities, networking, utilizing specialized knowledge, demonstrating research abilities, communicating effectively, and integrating learning, individuals in the commerce field can excel in small business management and contribute to the growth and development of the economy.