Business Studies

Understand the essentials of business management so that you can make the best decisions for the business that you own or manage for a successful operation.

Course Code: BBS101
Fee Code: S2
Duration (approx) Duration (approx) 100 hours
Qualification Statement of Attainment
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Learn to Manage a Business

  • Self paced course -introduction to business management

  • Learn to manage business

  • Start a business or improve a business

  • Learn from teachers with decades of successful experience in the world of business

This course develops the skills necessary for managing a small business, or a department within a larger business. Developed by professionals with many years of experience, it covers a range of topics that will ensure your career in Management has a strong foundation.

It does overlap with Business Operations and Starting Your Own Business, so you should choose just one of these modules. We can help you decide which one is best for you.

Lesson Structure

There are 8 lessons in this course:

  1. Establishment Procedures
    • The Business World
    • Ways to Begin a Business
    • Buying or Starting Up New
    • Market, Location, Regulations
    • Risks; emotional, financial
    • Common Reasons for Business Failure
    • Developing a 12 Month Plan
    • Creating a Business Plan
    • Motivation, Planning, Customers, Competitors, Promotion, Sales and Pricing, Employees, Premisis, Tax, Cashflow, Your Skills, etc
    • Legislation and Business Law
    • Legal Obligations
    • Partnerships
    • Contracts
    • Types of Business
  2. Management Procedures
    • Management Theory
    • Economic View, Behavioural View, Stakeholder Theory
    • Policies
    • Management Influences
    • Government Intervention
    • Classical School of Management Theory
    • Humanistic Management Theory
    • Scientific or Contingency Approach to Management
    • Systems Management
    • Neo Human Relations Management
    • Organisational Structures
    • "Functional", "Product/Market" and "Matrix" Structures
    • Coordination
    • Office Work
    • Quality Systems
  3. Communication in Business
    • Scope of Office Work
    • Business Letters
    • Customer Service
    • Writing Procedures
    • Clarity in Writing
    • Causes of Confusion
    • Concise Wording
    • Examples of Quality Assurance
  4. Problem Solving
    • Problem Solving Approaches
    • Non Complience Procedures
  5. Staff Management
    • Introduction
    • Interviewing, Recruitment and Staff Induction
    • Advertising
    • Potential Candidates
    • Interviews
    • Job Specifications
    • Management Styles
    • Supervision
    • Communicating with Employees
    • Giving Orders
    • Delegating
    • Motivating Employees
    • Security, ethics, gratitude, belief systems, etc
    • Negative Motivators
    • Space Management
    • Time Management
    • Viscious and Virtuous Cycles
    • Staff Training
    • Dealing with Complaints
    • Workplace Health and Safety
    • Work Sceduling
  6. Productivity
    • Introduction
    • Total and Partial Productivity Ratios
    • Foundation Economics
    • Goods, Resources, Performance Criteria
    • Economic Laws
    • Improving Results in Business
    • Profitability Ratios
  7. Financial Management
    • Introduction
    • Liquidity
    • Financial Records
    • Steps in the Bookkeeping Process
    • Basic Bookkeeping; Double Entry System, Ledger, Entrries resulting from Transactions, etc.
    • Cash Flow
    • Taxation
    • Financial Assistance
    • Insurance and Types of Insurance
    • Financial Terminology
    • Budgeting
    • Costing
    • Cost of Employing Labour
  8. Marketing Techniques
    • Scope and Nature of Marketing
    • Supply and Demand
    • Market ResearchMaking Contact and Communicating with Potential Customers
    • Convincing a Customer
    • Developing an Advertizement or Promotional Message

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

  • Select appropriate procedures for the establishment of a small business.
  • Select appropriate procedures for the management of a small business.
  • Develop procedures for communicating with suppliers and customers of a small business.
  • Develop procedures for addressing problems in a small business.
  • Plan the management of staff in a small business.
  • Develop strategies for managing production in a small business or department within a larger organisation.
  • Perform different financial management tasks used in small business or department within a larger organisation.
  • Evaluate marketing techniques used in business.

What You Will Do

  • Find out what pay & conditions must be supplied for a list jobs.
  • Find out about how to register a business name in your state, including procedures and costs.
  • Find out the procedure for establishing a company.
  • List the legal requirements for the establishment of one of a list of businesses.
  • What are the legal rights and obligations of both the customer and the supplier in a legal contract?
  • Visit an office in a workplace, and observe the layout of that office, and the way in which the layout affects work performance.
  • Draw a sketch plan of an office, showing the arrangement of people, furniture and equipment.
  • Contact either (or both) the Standards Association in your country and/or an appropriate government department to find out more about Quality Assurance.
  • Compile a resource collection of information on office equipment.
  • Interview someone who works in a business involved in selling.
  • Investigate three different workplaces, in order to evaluate problems in small businesses.
  • Investigate two different small business workplaces, making observations and speaking with some staff,
  • Investigate the role of unions within a workplace.
  • Contact at least one workplace where enterprise bargaining has been used to establish working conditions for staff.
  • Investigate productivity in two different small business workplaces, from the same industry, and which provide the same or similar services or products.
  • Investigate changing conditions in the business environment that may affect production or objectives of business.
  • Investigate and prepare a management report on a business.
  • Investigate investment opportunities with an investment counsellor.
  • Investigate an established business. Consider how a product is marketed by this business in three different ways.

How Should You Structure a Business 

One of the most important decisions you must make regarding your business is its legal structure. The most common types of business structure include:

  • Sole proprietor/trader

  • Partnerships

  • Companies

  • Trusts

To determine the most appropriate legal structure for your business will depend upon factors such as:

  • The size of the business

  • The number of people involved

  • The type of business

  • The cost and difficulty of establishment

  • Taxation considerations

  • Financial considerations, both present and future

  • Superannuation considerations

  • Management control and independence

  • Acceptability of government interference

  • The need for additional skills

  • Exposure to risk/liability of individuals

  • Your own personal preference

What are the Options?

Sole Traders

There are a very large number of sole trader businesses in the UK. They can also be known as sole proprietors, as the name suggests they are owned by one person. However, this does not stop the sole trader from being able to employ other staff as they will be employees, not owners. There are many advantages of setting up your business as a sole trader:

  • This form of ownership suits many different types of business.

  • It is easy and cheap to set up, and there is not a lot of paperwork involved.

  • If the type and place of business is well thought out, very little start-up capital is needed.

  • The owner maintains full control of the business and is free to make business decisions without consulting anyone else.

  • All business information is kept confidential unlike other business types who have to submit financial reports for public viewing.

  • The owner can keep all of the business’ profits.

However, as with most things there are also disadvantages to setting up your business as a sole trader:

  • Unlimited liability. This means that the sole trader is liable for all debts incurred by the business. Therefore, personal possessions would have to be sold in order to pay of the debts of the business. As a sole trader, there is no-one else to share the debts with.

  • Shortage of capital. Some sole traders find it hard to grow, or even continue operating due to a lack of capital. As they are a risk to lenders, it can be hard to obtain loans from banks etc.

  • Illness. If the owner is ill or even wishes to go on holiday, there may be no-on else to run the business and therefore revenue and possible profit is lost during this time period.

  • Hours of work. In order to run an efficient and successful business, long hours or work are required.

  • Continuity. If the sole trader wishes to sell his/her business, there may be no willing purchaser. Also, on a more morbid note, if the owner dies the business effectively ceases to exist.

  • Shortage of skills. Most entrepreneurs do not have ALL of the necessary skills to run a business. Therefore, specialists will need to be employed i.e. accountant, business lawyer etc. which can also be very costly.

  • Economies of scale. As sole trader businesses tend to be small, they can not take advantages of economies of scale i.e. bulk buying

Partnerships

These types of businesses are especially common in certain industries such as Dentists, Doctors and Solicitors etc. However, it is possible for any business to set up a partnership as long as they fit the necessary criteria. The rules surrounding the creation of partnerships are very strict: there must be between 2 and 20 partners, although it is not necessary for each partner to have an equal share. Because a partnership is a more complicated form of business than a sole trader, most choose to draw up a deed of partnership. If the business chooses not to do this, the law states that in all cases, partners are equal regardless of the amount of capital they invested. It is therefore in the interests of all parties to have a deed of partnership.

Advantages of partnerships:

  • More capital is available due to the possible number of partners.

  • There is a wider range of available skills. This is highlighted above in the sample deed of partnership.

  • The workload is shared, which makes it easier to cover illness and holidays.

  • It is easy and cheap to set up.

  • Financial information stays private as with the sole trader.

  • If extra skills or capital is needed, other partners can become involved. Some investors are happy to invest money into the business without actually taking any part in running it. This type of partner is known as a sleeping partner.

Disadvantages of partnerships:

  • The profit has to be shared between all partners.

  • Unlimited liability – review point made in sole trader disadvantages.

  • Disagreements. The partners may not always agree on important decisions and conflicts can often occur.

  • Shortage of capital. As with sole traders, it is difficult to raise finance through banks due to the unlimited liability. Although new partners can be an extra source of finance, they may be hard to find. This also means less profit for each partner.

Companies

All companies must let their customers know what type of business they are trading as i.e. Marks and Spencer P.L.C, Boots the chemist Pty Ltd. This is normally written on various business documents such as receipts etc.

Is Incorporation Needed?
This is a complicated and costly legal process which companies must go through before they can legally trade. Once all the requirements of the process have been met, the Registrar of Companies will issue the company with a Certificate of Incorporation. Incorporation creates a separate legal identity for the organisation. In the eyes of the law, the business and its owners are completely different things. Therefore, the owners benefit from limited liability, unlike sole traders and partnerships. This means that the owners can only lose their initial investment, they do not have to sell their personal possessions to pay off debts incurred by the business.

 

Start A Business, or Work in Business Management

 

  • What does it mean to be successful?

  • How do you plan for the future?

  • How to make money?

  • How to improve?

  • How to sell?

 

ACS is an Organisational Member of the Association for Coaching (UK).

ACS is a Member of the Complementary Medicine Association.

ACS Global Partner - Affiliated with colleges in seven countries around the world.

Since 1999 ACS has been a recognised member of IARC (International Approval and Registration Centre). A non-profit quality management organisation servicing education.


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.

Simply click on the ENROL OPTIONS button at the top of this screen and follow the prompts.

You can see the course price at the top of this page. Click 'enrolment options' to see any payment options available.

You can pay by Credit Card, PayPal, Afterpay or bank transfer.

Yes! We have payment plans for most courses. Click 'enrolment options' to see the available payment plans.
We also have Afterpay that will allow you to pay for your course or payment plans in four instalments (if you are in Australia).


What do I need to know before I enrol?

There are no entry requirements that you need to meet to enrol in our courses, our courses are for everyone.
If you are under 18, we need written permission from your parent/ guardian for your enrolment to continue, we can arrange that after you have enrolled.

You don’t need to purchase any additional resources to complete our courses.

We aim to teach you the essentials without you having to purchase any specific computer program.
We recommend that you have access to a word processing program, such as Microsoft Word or Google Docs, so that you can easily complete and submit your assignments.

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

Yes, if you are enrolling in a Certificate or Advanced Certificate, you might be eligible for credits if you have evidence of your previous studies or relevant experience. More information is here.

We recommend that you are able to browse websites, send emails and conduct online research. You will need to be able to type and submit your assignments.
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.

Yes, your tutor is here to help you. Simply post any questions you have in your login.training portal or contact the office and we can pass on a message to your tutor.

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.

Yes, our courses are built to be applicable for people living anywhere in any situation. We provide the fundamentals, and each student can apply their own unique flair for their own interests, region and circumstances with the one-on-one guidance of a tutor. There is also a bit of student directed research involved.

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.

ACS has an arrangement with OAMPS (formerly AMP) who can arrange Professional Indemnity from Australian and New Zealand graduates across all disciplines. Ph: 1800 222 012 or email acs@oamps.com.au.


Who are ACS Distance Education?

ACS Distance Education have been educating people for over 40 years.

We are established and safe- we have been in education for over 40 years.
We are focused on developing innovative courses that are relevant to you now and what you will need to know in the future.
We are focused on helping you learn and make the most of your experience.
You can enrol at any time, you can work on your course when it suits you and at your own pace.
We are connected to many industry bodies and our staff participate in continuous improvement and learning activities to ensure that we are ahead of what learning is needed for the future.

Our courses are not accredited by the Australian Government. However many of our courses are recognised and held in high regard by many industry bodies.

Our courses are written by our staff, who all have many years experience and have qualifications in their speciality area. We have lots of academic staff who write and update our courses regularly.


How do I enrol my staff/ sponsored students?

Yes, you can do a request for a bulk enrolment and request an invoice on our Invoice Request Form

We can prepare an invoice, quote or proforma invoice. Simply complete your details on our Invoice Request form

We can arrange bulk discounts for your course enrolment, please get in touch with us to discuss your needs.

Yes, we have many students who are in locked facilities, such as prisons or hospitals. We can cater by also offering paper notes at an additional cost.


What if I have any more questions or need more information?

We can assist you to find the right course for your needs. Get in touch with us via email (admin@acs.edu.au) call on +61 7 5562 1088 or complete our course advice form.


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Course Contributors

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

Kate Gibson

Kate has 12 years experience as a marketing advisor and experience as a project manager. Kate has traveled and worked in a variety of locations including London, New Zealand and Australia. Kate has a B.Soc.Sc, Post-Grad. Dip. Org Behaviour (HR).

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

Lyn Quirk

M.Prof.Ed.; Adv.Dip.Compl.Med (Naturopathy); Adv.Dip.Sports Therapy
Over 30 years as Health Club Manager, Fitness Professional, Teacher, Coach and Business manager in health, fitness and leisure industries. As business owner and former department head fo





Tutors

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

Alan Vo

Alan has 14 years experience as an I.T professional in Australia. Extensive experience with software engineering, web development, web marketing, and ecommerce at digital agencies as well as client-sides on various projects and industries.

Yvonne Sharpe

RHS Cert.Hort, Dip.Hort, M.Hort, Cert.Ed., Dip.Mgt.

Over 30 years of experience in horticulture, education and management, Yvonne has travelled widely within and beyond Europe and has worked in many areas of horticulture from garden centres to horticultural therapy. She has served on industry committees and been actively involved with amateur garden clubs for decades.

Sarah Pirecki

BAnVetBioSc., Dip. ProjMgt (TBC).

A passionate advocate for animal health and welfare. Sarah completed a Bachelor of Animal and Veterinary Bioscience majoring in Animal Health and Disease and is currently completing a Diploma of Project Management. She has a wide range of experience working in agricultural settings, veterinary nursing, assistance dog raising, and animal education.

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