Advanced Certificate in Commerce

Associated Assessment Criteria for Exit Level Outcome 1:

• Business performance is related to strategic management.
• Identify issues related to managerial tasks and skills.
• Differentiate between entrepreneurial approaches and business management.
• Develop a basic business plan for a small to medium enterprise.
• Describe the marketing process and marketing instruments.
  • Range of marketing instruments, includes but is not limited to: Product, price, place, distribution, and marketing communication.
• Describe financial management concepts and principles relating to financial analysis, investment decisions, and financing decisions.
• Describe the management of the operations of a business by using sound operational activities, techniques, and methods to optimize the transformation of inputs into outputs.
• Describe how the planning, organizing, and controlling of the purchasing and control functions achieve the objectives of the business.

Associated Assessment Criteria for Exit Level Outcome 2:

• Explain contracts applicable to the business environment.
  • Range of contracts includes but is not limited to: Sale and credit agreements, employment contracts, insurance and risk, service level agreements, and business contracts.
• Explain the characteristics and requirements of various forms of businesses.
  • Range: Forms of business may include but are not limited to Sole Proprietor, Partnership, Close Corporation, and Company.
• Explain and discuss legal requirements for operating a business in terms of financial and operational prescripts.
  • Range of financial and operational prescripts includes but is not limited to: Direct and indirect taxes, pension and annuity, granting an application for voluntary surrender, insolvency, sequestration and rehabilitation, negotiable instruments, and lien.
• Discuss and explain the legal implications of a business entity.
  • Range of legal implications includes but is not limited to: Defamation and the defendant for such a claim, copyright, breach of copyright on the internet, the Competitions Act, the Housing Consumers Protection Measures Act.

Associated Assessment Criteria for Exit Level Outcome 3:

• Explain the definitions, concepts, and principles of micro-economics and macro-economics.
• Describe and critically analyze the economic problems of scarcity, choice, opportunity cost, and prioritizing.
• Explain the concepts of demand, supply, and prices and analyze the effect of demand, supply, and income elasticity.
• Define the concepts of production and cost and critically analyze the output, production, and costing principles of a representative firm.
• Explain and discuss the functioning of the labor market and the role of trades union.
• Discuss the use of money in the economy and analyze its implications for policy and growth.
• Recognize the economic role of the public sector on the economy and analyze the impact thereof.
• Differentiate between models of income determination.
  • Range of models of income determination includes but is not limited to: Keynesian Model, Malthusian Model, and Classical Model.

Associated Assessment Criteria for Exit Level Outcome 4:

• Discuss how the effective strategic management of human resources leads to the strategic goal achievement of the organization.
• Identify the process involved in the effective attraction, selection, and retention of employees.
• Discuss the role of positive and equitable labor relations in ensuring long-term organizational success.
• Explain the latest trends and developments in human resource management.
• Describe the recruitment process.
• Discuss the selection process.
• Explain the new employee induction process.
• Explain the training and development process and its importance.
• Explain how human resources can be motivated and managed.

Associated Assessment Criteria for Exit Level Outcome 5:

• Discuss Business Information Systems.
• Explain computer systems terminology, hardware, software, and the internet.
• Discuss the processes of decision making and problem solving.
• Identify key control and management issues associated with transaction processing systems.
• Discuss the advantages and disadvantages associated with the implementation of an enterprise resource planning system.
• Discuss information systems in the functional areas of business organizations.
• Identify factors that influence the success or failure of a systems development project.
• Discuss the importance of systems and software maintenance and include the activities involved.

Associated Assessment Criteria for Exit Level Outcome 6:

• Explain the language of statistics and the role of computers in statistics.
• Distinguish between primary and secondary data sources.
• Describe the difference between grouped and ungrouped data.
• Compute mean, median, and mode for both grouped and ungrouped data.
• Compute measures of relative standing.
• Calculate simple index numbers.
• Explain the purpose of time series analysis.
• Explain and calculate probabilities using the rules of addition and multiplication.

Integrated Assessment:

• Integrated Assessment allows learners to integrate concepts, ideas, and actions across modules to achieve competence.
• Assessment methods include time-constrained written examinations, coursework evaluation, continuous evaluation, and practical evaluation.
• The Integrated Assessment enables learners to display capabilities in integrating practical performance, concepts, and theory.
• Work Integrated Learning assessment also provides for Integrated Assessment of the various disciplines in the Advanced Certificate in Commerce curriculum.