Introduction To The Business Functions (EB122)

PURPOSE

To equip students with scientifically-based Business Management knowledge which will enable them to establish, manage and grow their own small businesses. This module deals specifically with the business functions.

LEARNING OUTCOMES

• To understand the overarching business function called general and strategic management, including various management concepts such as management tasks, levels, skills, competencies and roles.
• To gain insight into the relationship between operations, productivity and profitability as well as what production and operations management entail and the techniques that can be used in outbound logistics.
• To understand the environment of marketing management in contemporary business enterprises and the vital role that marketing plays in providing need satisfying solutions in the form of products and services to consumers, as well as the marketing of services as an alternative offering to physical products.
• To understand the use of costs for managerial purposes, in particular when a firm is established by an entrepreneur and to demonstrate this understanding with practical examples.
• To understand the business function of financial management, specifically how financial analysis is done by means of financial ratios when evaluating a business’s financial position and show understanding of the investment, financing and profit distribution decisions of a business.
• To understand the operation of the purchasing function of businesses with emphasis on the purchasing of materials and equipment for businesses in the right quantity, of the right quality and at the required time from the right supplier, at the right price, and that the inbound logistics of these materials are also important.
• To gain insight into human resource management as a business function, which includes human resource planning and staffing, as well as human resource maintenance.
• To understand the role of business communication in binding together an enterprise’s business functions, tasks and business environments and the means of communicating information to internal and external audiences.
• To understand how information and communications technology (ICT) can support the business functions within a business as well as how it can support business to business communication (e-business).

CORE CONTENT

• General and strategic management.
• Production/operations management and outbound logistics.
• Marketing management and introduction to services marketing.
• Costs as a basis for planning and establishment of business enterprises.
• Financial management.
• Purchasing management and inbound logistics.
• Human resource management.
• Managing business communication.
• Management information systems and e-business.

Evaluation criteria

100% Continuous assessment:

• 3x Semester tests (Final mark weight = 60%)
• 9x End of unit quizzes (Final mark weight = 10%)
• End of module assessment (Final mark weight = 30%)

MODERATION

Internal.

Prerequisites

None.

• 100% Continuous assessment:
• • 3x Semester tests (Final mark weight = 60%)
  • 9x End of unit quizzes (Final mark weight = 10%)
  • End of module assessment (Final mark weight = 30%)