FSBU001 - Business Studies

Year

Credit points

Campus offering

Prerequisites

Unit rationale, description and aim

No organization operates in isolation. To understand organisations, it is important for students to understand the social and economic context in which they operate and the external and internal factors which influence organizational success.  

In this unit, students will investigate the contexts and environments in which organizations operate and examine fundamental management concepts to provide context to study within business disciplines.  Students will also be introduced to financial literacy and numeracy for business.  

The aim of this unit is to provide students with a foundation knowledge base to undertake further study at the undergraduate level in business disciplines 

Learning outcomes

To successfully complete this unit you will be able to demonstrate you have achieved the learning outcomes (LO) detailed in the below table.

Each outcome is informed by a number of graduate capabilities (GC) to ensure your work in this, and every unit, is part of a larger goal of graduating from ACU with the attributes of insight, empathy, imagination and impact.

Explore the graduate capabilities.

On successful completion of this unit, students should be able to:

LO1 - Define and memorise appropriate business vocabulary (GA5) 

LO2 - Describe the nature of various environments in which organizations operate (GA7, GA8, GA10) 

LO3 - Explain basic principles of business finance (GA4, GA9, GA10) 

LO4 - Demonstrate proficiency in the use of basic business mathematics (GA5) 

Graduate attributes

GA4 - think critically and reflectively 

GA5 - demonstrate values, knowledge, skills and attitudes appropriate to the discipline and/or profession 

GA7 - work both autonomously and collaboratively 

GA8 - locate, organise, analyse, synthesise and evaluate information 

GA9 - demonstrate effective communication in oral and written English language and visual media 

GA10 - utilise information and communication and other relevant technologies effectively.

Content

Topics will include: 

• The nature of business 
• Regulations for business 
• The economy and business 
• The Social/Demographic Environment 
• The Technological influences 
• Organizational structure and behaviour 
• People in organizations 
• Business Financial Concepts 
• Mathematics for Business  

Learning and teaching strategy and rationale

Mode for International Students: Attendance on campus: 5 hours per week 

Mode for Domestic Students: Multi-mode: attendance on campus: 3 hours per week plus 2 hours online learning.  

Duration: 10-week Term 

Introduction to Business Studies takes an active learning approach to guide students in the development of knowledge of the environments in which organisations operate.  

The learner is able to explore the knowledge base underpinning organizational environments, basic business financial and mathematical concepts in a series of face-to-face workshops supported by material on the Learning Environment On-line (LEO). These workshops are designed to support the learner to actively participate in the development of their knowledge, both individually and in groups.  

By participating each weak in these face-to-face meetings, the learner will develop an understanding of the vocabulary of business, different environments that affect an organization and how this impact on key activities of the organization. Learners will also appreciate the nature of business finance and mathematics.  

This unit takes a collaborative learning approach within the face-to-face meetings through a series of lectures, discussions and examples. This approach is designed for the learner to develop critical knowledge in an independent and group environment. 

Assessment strategy and rationale

Student responses to assessment opportunities provide a collection of evidence on which judgments about the quality of student learning are made. The quality of student responses is judged against standards described in the rubric specifically developed for each assessment piece. In order to pass this unit, three graded assessment tasks are required to be submitted and they must achieve an aggregate mark of at least 50%. A final grade will be awarded reflecting the overall achievement in the unit.  

The assessment strategy for Introduction to Business Studies allows the learner to sequentially develop their knowledge and skills in fundamental areas of business to the point where they can use the vocabulary of business appropriately to explain the nature of business environments in which organisations operate, as well as competently use basic business mathematics and explain basic principles of business finance. 

Assessment One requires students to compile a glossary of key business terms to build knowledge of business vocabulary and to explain the application of a nominated number of terms. Assessment Two allows students to examine and explain key practical implications of the impact of various business environments on organisations. The third assessment is a final examination that allows students to demonstrate understanding of concepts covered over the study term and show proficiency in basic business mathematics and business finance principles. 

Overview of assessments

Representative texts and references

Broadbridge, D., & Dobes, W. (2018). HSC business studies 101. Australia: Get Smart Education. 

Dixon, T., & O’Mahony, J. (2018). Australia in the Global Economy. 2019 eBook. Australia: Pearson 

Croucher, R. (2016). Introductory mathematics and statistics (6th ed.). North Ryde, NSW: McGraw Hill (Australia) Pty Ltd. 

Hickey, M., Nader, T., & Williams, T. (2017) Cambridge prelim business studies (4th ed.). Great Britain: Cambridge University Press. 

Hicks-Schilling, K., Mylonas, A., Schneider, J., & Simpson, A. (2010). Business education (2nd ed.). Australia: Nelson Business Educatio 

Layton, A., Robinson, T., & Tucker, I.B. (2016). Economics for Today: Fifth Asia Pacific edition. VIC Melbourne: Cengage Learning.  

Roll, G. (2014). Mastering finance topic 2. Australia: Five Senses 

Roll, G. (2014). Mastering finance topic 3. Australia: Five Senses. 

Terry, A., & Guigni, D. (2016). Business and the law (4th ed.). Milton, Qld: John Wiley and Sons.