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.
Define and memorise appropriate business vocabular...
Learning Outcome 01
Describe the nature of various environments in whi...
Learning Outcome 02
Explain basic principles of business finance
Learning Outcome 03
Demonstrate proficiency in the use of basic busine...
Learning Outcome 04
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
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
Business Terms Glossary and assessment: Require s...
Business Terms Glossary and assessment: Require students to demonstrate their ability to write a brief description of key terms and their meaning. In context
30%
Research Paper: Require students to demonstrate a...
Research Paper: Require students to demonstrate ability to explain the nature and impact of various business environments on organisations
30%
Examination: To assess the learner’s overall unde...
Examination: To assess the learner’s overall understanding of the concepts taught during the semester with focus on basic business mathematics and basic principles of finance
40%
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 Canvas. 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.