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The dynamic environment within which businesses operate today present both challenges and opportunities for business leaders. The growth in economic and social needs in most economies also constitutes another area of great challenge. As students proceed beyond the Caribbean Secondary Education Certificate (CSEC) level, in pursuit of their career goals, they must be cognisant of the changing socio-economic climate within which modern businesses operate.
Management of Business students must understand the principles that govern the human and operational interactions within a business, and must be aware of how a business operates within a society. Moreover, it is imperative that students possess a comprehensive understanding of the markets in the region in addition to knowledge of the global marketplace.
The syllabus aims to:
- develop an understanding of the integrated nature of business organisations and the environment in which they operate;
- develop an awareness of how global issues impact the development of business organisations with special reference to the Caribbean;
- provide basic information on principles, legal issues, and practices of modern management with special reference to the Caribbean;
- develop critical thinking skills that involve analysis, evaluation, decision making and problem solving;
- develop an understanding of the importance of management of people;
- develop skills in communicating information effectively in numerical, graphical and verbal form;
- provide opportunities for acquisition of prerequisite knowledge and skills necessary to pursue further studies and career development;
- provide knowledge and skills needed to become successful entrepreneurs;
- develop attitudes, values, and ethical practices related to business;
- develop an appreciation of the need for organisations to be good corporate citizens.
Module 1: PRODUCTION AND OPERATIONS MANAGEMENT On completion of this Module, students should: 1. understand the operations involved in the production of goods and services; 2. develop an awareness of the importance of productivity and quality in production; 3. appreciate the importance of tools and techniques required for production and operations management; 4. be aware of the impact of the external environment on the production and operations function.
- Describe the major decisions involved in the nature of the production process
- Explain techniques involved in forecasting
- Discuss the strategies involved in product design
- Explain the concept of capacity planning
- Examine various strategies used in production layout process
- Assess the importance of costing in production
- Examine the concept of inventory management
- Explain the concept of lean production and quality management
- Explain methods of measuring and improving productivity
- Assess the importance of project management
Module 2: FUNDAMENTALS OF MARKETING On completion of this Module, students should: 1. understand the role and importance of marketing; 2. assimilate the principles of marketing management; 3. develop an awareness of the impact of the external environment forces on marketing.
- Define the term “marketing” and relate it to the concepts of “market”, “exchange” and “value added”
- Assess the implications of various marketing concepts
- Distinguish between the micro- and macro- environments in which a firm operates and their effects on the marketing strategy of the firm
- Describe the elements of the marketing research process
- Assess the principles of market segmentation
- Explain the principles of product management
- Evaluate various pricing strategies
- Discuss the major principles of distribution
- Examine the major tools of promotion and their implications
- Discuss the importance of internet marketing decisions
Module 3: SMALL BUSINESS MANAGEMENT On completion of this Module, students should: 1. appreciate the nature of entrepreneurship; 2. develop an awareness of the characteristics of small business management.
- Explain the nature and characteristics of entrepreneurship
- Explain the relationship between business organisations and the economic system in which they operate
- Assess the criteria for measuring size and growth of business
- Assess the challenges and opportunities faced by small businesses
- Describe the types of assistance agencies offer to small businesses
- Develop a business plan