Business Operations

Understanding business operations is vital to ensure that you are across all of the business functions and that each business function runs smoothly.

Course Code: VBS006
Fee Code: S1
Duration (approx) Duration (approx) 100 hours
Qualification Statement of Attainment
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Increase Business Profitability and Sustainability 

For success in business, you need to begin with a strong foundation of skills and knowledge in various aspects of business operation and planning. The aim of this course is to provide you with the building blocks for a successful career in business planning and operations. Covering topics such as business law, the money market, taxation, business plan writing and mistakes to avoid. It is a solid foundation, developed by highly qualified and experienced professionals.

This course is a good choice if you're wondering where to start including:

  • Those with a retail, technical, sales or trade background looking to move into management
  • People working in administrative roles who wish to take on more responsibility
  • A starter course for anyone who has not studied business before
It does overlap with Business Studies and Starting a Small Business, so you should choose to do one or the other, not any two of these.

Lesson Structure

There are 6 lessons in this course:

  1. Introduction
    • Business law
    • types of businesses
    • starting a business
  2. Finance
    • Liquidity
    • The money market
    • terminology
    • insurance
  3. Financial Records
    • Simple Bookkeeping procedures
    • cash flow
  4. Financial Management
    • Taxation
    • costing
    • budgeting
    • investing
  5. Business Planning
    • Overview
    • Improving results in business
    • Developing a 12 month business plan.
  6. Mistakes to avoid
    • Examples of things to avoid; lack of market research, problems with marketing, cash flow, attitude, etc
    • Profitability
    • Profitability ratios
    • Reasons why businesses fail

Each lesson culminates in an assignment which is submitted to the school, marked by the school's tutors and returned to you with any relevant suggestions, comments, and if necessary, extra reading.

Aims

  • Define the business community, the types of businesses involved and the interaction which occurs between different businesses.
  • Explain the difference between goods and services based businesses.
  • Define a range of commonly used business terms.
  • Research and analyse business opportunities by studying activities in the business world.
  • Assess the feasibility of a business opportunity and allocate resources to this business.
  • Carry out the basic procedures of recording and interpreting financial records and statements including the cash book, balance sheet, profit and loss statement.
  • Explain liquidity and productivity
  • Calculate profit and determine assets
  • Calculate the real cost of labour in a business.
  • Determine pricing based on costs calculated for providing a particular service or product.
  • Develop a budget for a simple business operation.
  • Develop a simple 3 year business plan (real or hypothetical).

What Is Required to Operate a Business?

Running a business is a day to day task - it will not run itself. Goals need to be set and decisions need to be made in order to achieve these goals. In the daily operation of a business, some days will challenge you and some will inspire you. Most of them however will be just part of the daily routine of normal business operations. 

The day to day goal of a business involves acquiring the means to deliver a product or service, then selling that product or service to someone.

The following are the three key areas in operating a small business:

  1. Management process – staff management; hiring the right people, training, how to get the best results from the people you hire.  

  2. Business strategy – defines your short and long term goals in relation to achieving targeted turnover and profit.

  3. Business operations – the means by which you achieve set goals i.e.  resources, tools, business plans and set procedures. 

Things you will need to do to fulfill your business goals:

  • Buy or make your product or determine the services you will offer.

  • Make the correct buying decisions – based on market research and the needs of your customers.

  • Fix prices (after determining costs).

  • Keep costs down.

  • Promote products or services (Advertising, marketing).

  • Sell.

  • Deliver.

  • Follow-up with your customers.

  • Hire and train new employees as the business grows.

  • Motivate your employees.

  • Measure your performance against your goals.

  • Keep appropriate records.

The daily work of any business operator however can vary in many ways:

  • Small business operators need to do everything (planning, management, marketing, delivering the service or creating the products etc.).

  • Big business operators have the luxury of being able to delegate areas of work to employees, but that luxury is readily offset by the added complexity of managing a larger organisation.

  • Some businesses need to allocate more resources to acquiring their product or service than others. Others may find acquiring the product easy, but usually when one aspect of the business operation is easier, other aspects will be more difficult.

  • Some businesses need to continually review and change the product or service they offer, while others may only ever make minor changes to what they are selling.

What will this course do for you?

 

At the end of this course you should be able to start or improve a business.

Here are just some of the things you will be doing:

  • Research business publications to evaluate current trends in small business

  • Prepare management reports for several businesses

  • Contact lending institutions to enquire about money market investment schemes

  • Prepare a profit and loss statement, a ledger statement and a balance sheet for a hypothetical business

  • Speak with the taxation department about business related tax issues

  • List the assets and liabilities in an existing business

  • Develop a budget for a simple business operation

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How can I start this course?

You can enrol at anytime and start the course when you are ready. Enrolments are accepted all year - students can commence study at any time. All study is self paced and ACS does not set assignment deadlines.

Please note that if a student is being assisted by someone else (e.g. an employer or government subsidy), the body offering the assistance may set deadlines. Students in such situations are advised to check with their sponsor prior to enrolling. The nominal duration of a course is approximately how long a course takes to complete. A course with a nominal duration of 100 hours is expected to take roughly 100 hours of study time to complete. However, this will vary from student to student. Short courses (eg. 100 hrs duration) should be completed within 12 months of enrolment. Certificates, Advanced Certificates and Awards (eg. over 500 hours duration) would normally be completed within 3 -5 years of enrolment. Additional fees may apply if a student requires an extended period to complete.
If a student cannot submit their assignments for 6 months to ACS, they should advise the school to avoid cancellation of their student
registration. Recommencement fees may apply.

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What do I need to know before I enrol?

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You sure can. We are here to help you learn whatever your abilities.

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If you have limited computer skills, we can make special arrangements for you.

This is possible, it depends on the institution. We recommend that if you would like to use our courses that you contact the institution first. Our Course Handbook is a good resource for this.

Our courses are written in English and we only have English speaking academic staff. If you can read and complete your assignments in English, our courses are ideal for you.

Our courses are designed to build knowledge, hands on skills and industry connections to help prepare you to work in the area, running your own business, professional development or as a base for further study.

This course has been designed to cover the fundamentals of the topic. It will take around 100 hours to complete, which includes your course reading, assignment work, research, practical tasks, watching videos and anything else that is contained in the course. Our short courses are a great way to do some professional development or to learn a new skill.

It’s up to you. The study hours listed in the course are a rough guide, however if you were to study a short course (100 hours) at 10 hours per week, you could finish the course in 10 weeks (just an example). Our courses are self-paced, so you can work through the courses in your own time. We recommend that you wait for your tutor to mark and return your assignment before your start your next one, so you get the benefits of their feedback.

The course consists of course notes, videos, set tasks for your practical work, online quizzes, an assignment for each lesson (that you receive feedback from your tutor from) and ends in an exam (which is optional, if would like to receive the formal award at the end), using our custom built Learning Management System - Login.Training.

Our courses are designed for adults to gain professional development and skills to further their careers and start businesses.

Our custom online learning portal allows you to conduct your learning online. There may be practical tasks that you can do offline. You have the option of downloading your course notes or print them to read later.

There is also the option to pay an additional fee for printed course notes and or USB (availability limited to location and deliverability).

Yes, if you don’t have access to the internet, you can receive the course as paper notes or on a USB stick for an additional fee. We can also make alternative arrangements for you to send your assignments to us.

We offer printed notes for an additional fee. Also, you can request your course notes on a USB stick for an additional fee.

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We are more learning focussed, rather than assessment focussed. You have online quizzes to test your learning, written assignments and can complete an exam at the end of the course (if you want to receive your certificate). You will not receive a pass/ fail on your course work. If you need to add more details on your assignment, we will ask you to resubmit and direct you where you need to focus. If you need help, you can ask your tutor for advice in the student room.

Each module (short course) is completed with one exam.

Exams are optional, however you must sit an exam if you would like to receive a formal award. You will need to find someone who can supervise that you are sitting the exams under exams conditions. There is an additional cost of $55 (AUS) $50 (O/S) for each exam.
More information is here

There are practical components built into the course that have been designed to be achieved by anyone, anywhere. If you are unable to complete a task for any reason, you can ask your tutor for an alternative.

When you complete the course work and the exam and you will be able receive your course certificate- a Statement of Attainment. Otherwise, you can receive a Letter of Completion.

You can bundle the short courses to create your own customised learning bundle, Certificates or Advanced Certificates. More information is on this page.

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Employers value candidates with industry skills, knowledge, practical skills and formal learning. Our courses arm you with all of these things to help prepare you for a job or start your own business. The longer you study the more you will learn.

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Course Contributors

The following academics were involved in the development and/or updating of this course.

Denise Hodges

Promotions Manager for ABC retail, Fitness Programmer/Instructor, Small Business Owner, Marketing Coordinator (Laserpoint). Over 20 years varied experienced in business and marketing. More recently Denise studied naturopathy to share her passion for healt

Sonia Andrews

15 years experience in business, bookkeping and accounting.

Rosemary Davies

Businesswoman, Journalist, Editor, Broadcaster, Teacher, Consultant for over 30 years.





Tutors

Meet some of the tutors that guide the students through this course.

Jade Sciascia

B.Sc.Biol, Dip.Prof.Ed, Cert Food Hygiene.

Former Business Coordinator, Scottish Environmental Protection Agency, Secondary School teacher (Biology); Administrator (Recruitment), Senior Supervisor (Youth Welfare). International Business Manager for IARC. Academic officer and writer with ACS for over 10 years, both in Australia and in the UK.

Rosemary Davies

B Ed, BSc Hort, Dip Advertising & Marketing

Originally from Melbourne, Rosemary trained in Horticultural Applied Science at Burnley, a campus of Melbourne University. Initially she worked with Agriculture Victoria as an extension officer, taught horticulture students, worked on radio with ABC radio (clocking up over 24 years as a presenter of garden talkback programs, initially the only woman presenter on gardening in Victoria) and she simultaneously developed a career as a writer.

She then studied Education and Training, teaching TAFE apprentices and developing curriculum for TAFE, before taking up an offer as a full time columnist with the Herald and Weekly Times and its magazine department after a number of years as columnist with the Age. She has worked for a number of companies in writing and publications, PR community education and management and has led several tours to Europe.

Lyn Quirk

M.Prof.Ed.; Adv.Dip.Compl.Med (Naturopathy); Adv.Dip.Sports Therapy

Lyn has 35 years of experience in the Fitness, Health and Leisure Industries. She has a string of qualifications that are far too long to list here; being qualified and registered to teach, coach or instruct a wide range of different sports and other skills.

Lyn established and managed Health clubs at three major five star resorts on Australia's Gold Coast, including The Marriott. She was a department head for a large government vocational college (TAFE), and has conducted her own aquafitness business for many years. Lyn has among her other commitments worked as a tutor for ACS for almost 10 years, and over that time, participated in the development or upgrading of most courses in her fields of expertise.

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