BUSINESS MANAGEMENT 1A MODULE GUIDE 2014 (First Edition PDF

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BUSINESS MANAGEMENT 1A MODULE GUIDE 2014 (First Edition

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IIE Module Guide BMNG5111

BUSINESS MANAGEMENT 1A

MODULE GUIDE 2014

(First Edition: 2012) This manual enjoys copyright under the Berne Convention. In terms of the Copyright Act, no 98 of 1978, no part of this manual may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or by any other information storage and retrieval system without permission in writing from the proprietor. The Independent Institute of Education (Pty) Ltd is registered with the Department of Higher Education and Training as a private further and higher education and training institution under the Further Education and Training Colleges Act, 2006 (reg. no. 2009/FE07/003, prov. to 31/12/2014) and the Higher Education Act, 1997 (reg. no. 2007/HE07/002).

IIE Module Guide BMNG5111

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For certain modules, electronic supplementary material is available to you via the

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with you related to any supplementary materials and activities such as ICE, etc. To view, print and annotate these related PDF documents, download Adobe

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IIE Module Guide BMNG5111

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The following Library Online Databases are available to you. Please contact your librarian if you are unable to access any of these.

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This database will provide you with books available in other libraries across South Africa. http://reference.sabinet.co.za/sacat

User name and password: Please ask the librarian

e-Brary This database provides access to full text online books, some of which form part of the IIE recommended reading lists. http://site.ebrary.com/lib/iieza

Password: Use your Student Number

IIE Module Guide BMNG5111

DID YOU KNOW? ..................................................................................................... 2

Using this Guide ........................................................................................................ 6

Introduction ............................................................................................................... 7

Module Resources .................................................................................................... 8

Module Purpose ........................................................................................................ 8

Module Outcomes ..................................................................................................... 8

Module Pacer ............................................................................................................ 9

Assessments ........................................................................................................... 15

Glossary of Key Terms for this Module .................................................................... 17

Learning Unit 1: The Business World and Business Management ........................... 27

1 Key Concepts Covered in this Learning Unit .................................................... 27

2 Recommended Additional Reading .................................................................. 33

3 Recommended Digital Engagement and Activities ........................................... 33

4 Interactive Work Space .................................................................................... 33

Learning Unit 2: Entrepreneurship ........................................................................... 36

1 Key Concepts Covered in this Learning Unit .................................................... 36

2 Recommended Additional Reading .................................................................. 46

3 Recommended Digital Engagement and Activities ........................................... 47

4 Interactive Work Space .................................................................................... 48

Learning Unit 3: Establishing a Business ................................................................. 50

1 Key Concepts Covered in this Learning Unit .................................................... 50

2 Recommended Additional Reading .................................................................. 59

3 Recommended Digital Engagement and Activities ........................................... 60

4 Interactive Work Space .................................................................................... 60

Learning Unit 4: The Business Environment ............................................................ 63

1 Key Concepts Covered in this Learning Unit .................................................... 63

2 Recommended Additional Reading .................................................................. 73

3 Recommended Digital Engagement and Activities ........................................... 73

4 Interactive Work Space .................................................................................... 74

Learning Unit 5: Corporate Social Responsibility ..................................................... 76

1 Key Concepts Covered in this Learning Unit .................................................... 76

2 Recommended Additional Reading .................................................................. 83

3 Recommended Digital Engagement and Activities ........................................... 83

4 Interactive Work Space .................................................................................... 83

Learning Unit 6: Introduction to General Management ............................................ 86

1 Key Concepts Covered in this Learning Unit .................................................... 86

2 Recommended Additional Reading .................................................................. 89

3 Recommended Digital Engagement and Activities ........................................... 90

4 Interactive Work Space .................................................................................... 90

Learning Unit 7: Planning ........................................................................................ 92

1 Key Concepts Covered in this Learning Unit .................................................... 92

2 Recommended Additional Reading .................................................................. 99

3 Recommended Digital Engagement and Activities ..........................................100

4 Interactive Work Space ...................................................................................100

Learning Unit 8: Organising ....................................................................................103

IIE Module Guide BMNG5111

1 Key Concepts Covered in this Learning Unit ...................................................103

2 Recommended Additional Reading .................................................................108

3 Recommended Digital Engagement and Activities ..........................................108

4 Interactive Work Space ...................................................................................109

Learning Unit 9: Leading ........................................................................................111

1 Key Concepts Covered in this Learning Unit ...................................................111

2 Recommended Additional Reading .................................................................117

3 Recommended Digital Engagement and Activities ..........................................117

4 Interactive Work Space ...................................................................................118

Learning Unit 10: Controlling ..................................................................................120

1 Key Concepts Covered in this Learning Unit ...................................................120

2 Recommended Additional Reading .................................................................123

3 Recommended Digital Engagement and Activities ..........................................124

4 Interactive Work Space ...................................................................................124

Bibliography ...........................................................................................................126

Plagiarism ..............................................................................................................127

IIE Module Guide BMNG5111

© The Independent Institute of Education (Pty) Ltd 2014 - Page 6 of 130 This guide has been developed to support your use of the textbook prescribed for this module. There may be occasions when the textbook does not provide sufficient detail regarding a particular idea or principle. In such instances, there may be considerable additional detail included in the guide. However, this guide should not be used as a stand-alone textbook, as the bulk of the information that you will need to engage with will be covered in the prescribed textbook. In addition, each Learning Unit in this guide could contain three (3) different types of engagement, referred to as Interactive Work Spaces, as listed below:

1. Izimvo Exchange Izimvo is an isiXhosa word for ideas and so this is the

exchanging or sharing of ideas. These are in-class debates or discussions linked to the subject matter and/ or current affairs.

2. Activities These are varied interactions in which you can engage with the

subject matter.

3. Revision Exercises These are questions/ tasks based on theory.

The purpose of the Interactive Work Space is to provide opportunities for you to engage with the subject matter in the Learning Unit both in and outside the classroom in preparation for assessments. In different modules there would be more or less emphasis on the different types of engagement, depending on the nature and objectives of the particular module.

IIE Module Guide BMNG5111

© The Independent Institute of Education (Pty) Ltd 2014 - Page 7 of 130 This module will introduce you to the field of business management. The rapidly changing and competitive context within which a business operates will be examined and the purpose of a business in society discussed. The exciting field of entrepreneurship will be investigated and the decisions relating to starting a business explored. You will also learn about the contemporary issues relating to corporate social responsibility. Learning Units 610 focus on the primary functions of management. You will discuss various management processes and principles which will lay a foundation for understanding what managers do and why it is so important. The success of business organisations relies on how well management is able to use resources effectively and adapt to changes in the business environment. This module will prepare you for your journey to becoming a successful business manager. This module guide has been structured in such a way as to guide you through your prescribed textbook, draw attention to important information and explain key concepts. Activities are provided for you to engage with the material. Please note that you are expected to read and research beyond your prescribed textbook and this module guide. This is necessary to enhance your own learning and understanding. Useful references are provided to assist you in developing a deeper understanding of the content.

IIE Module Guide BMNG5111

Prescribed Book for

this Module Erasmus, BJ, Strydom, JW and Rudansky-Kloppers, S. 2013. Introduction to business management. 9th edition. Cape Town:

Oxford University Press.

Please note that this Module Guide is intended to support your learning the content of this module is in the prescribed textbook. You will not succeed in this module if you focus on this Module Guide only.

Additional Reading

You will be referred to additional reading in your Module Guide. Access to the Internet will be a requirement for this module.

Digital and Web

Resources

This module has additional digital resources available log on to the Student Portal, and follow the links to Supplementary

Digital Material

Other Web Resources and Web links you could access are provided throughout this module guide. Students should however be keeping up to date with business news through websites such as:

Bloomberg. 2013. [Online] Available at:

http://www.bloomberg.com/ [Accessed 11 December

2013].;

Business Day. s.a. [Online] Available at:

http://www.bdlive.co.za/ [Accessed 11 December 2013].; Fin24. 2013. [Online] Available at: http://www.fin24.com/ [Accessed 11 December 2013].;

Moneyweb. 2013. [Online] Available at:

http://www.moneyweb.co.za [Accessed 11 December

2013].

The purpose of this module is to provide students with a broad introduction to the field of business management and the business environment. Students will develop an understanding of the basic management activities involved in the establishment and on-going management of a business.

MO1 Demonstrate knowledge and understanding of the concepts, principles and practices of management in the business world. MO2 Apply knowledge of management activities in a business context. MO3 Evaluate the impact that different business environments have on the business and managerial roles. MO4 Explain the role that corporate social responsibility plays in an organisation.

IIE Module Guide BMNG5111

Code BMNG5111 Hour Sessions 38 Credits 12

Learning Unit 1 Theme: The Business World and

Business Management

Notes on this LU

Sessions: 14 Objectives:

Explain, in your own words,

the role which business organisations play in making available products and services for society;

Describe the needs of society

and its limited resources;

Distinguish between the main

economic systems in the world;

Distinguish between the

different need-satisfying institutions of the market economy and their contributions towards satisfying the needs of society;

Describe and comment on

the nature of business management and its development as a science;

Distinguish between and

comment on the different business management functions.

Related Outcomes:

MO1 Learning Unit 2 Theme: Entrepreneurship Notes on this LU

Sessions: 58 Objectives:

Explain entrepreneurship in

your own words;

Explain the role of

entrepreneurship and small businesses in the economy;

Discuss the state of

entrepreneurship in South

Africa;

Distinguish between the

different entrepreneurial traits and characteristics;

Related Outcomes:

MO1

IIE Module Guide BMNG5111

Learning Unit 2 Theme: Entrepreneurship

(CONTINUED)

Notes on this LU

Sessions: 58 Objectives:

Comment on the skills,

resources and industry experience required toquotesdbs_dbs17.pdfusesText_23

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[PDF] BUSINESS MANAGEMENT 1A MODULE GUIDE 2014 (First Edition

What is the introduction to business management?

What is Section 1 of the development of business and management?

What is 107 introduction to business and management?

What is the primary aim of Business Management?

IIE Module Guide BMNG5111

BUSINESS MANAGEMENT 1A

MODULE GUIDE 2014

IIE Module Guide BMNG5111

Student Portal

Module Guides or Module Manuals

Supplementary Materials

Module Discussion Forum

Reader at following link below:

IIE Module Guide BMNG5111

IIE Library Online Databases

EBSCOhost

This database contains full text online articles.

User name and password: Please ask the librarian

Inmagic

No password required

SABINET

User name and password: Please ask the librarian

Password: Use your Student Number

IIE Module Guide BMNG5111

Table of Contents

1 Key Concepts Covered in this Learning Unit .................................................... 27

2 Recommended Additional Reading .................................................................. 33

3 Recommended Digital Engagement and Activities ........................................... 33

4 Interactive Work Space .................................................................................... 33

1 Key Concepts Covered in this Learning Unit .................................................... 36

2 Recommended Additional Reading .................................................................. 46

3 Recommended Digital Engagement and Activities ........................................... 47

4 Interactive Work Space .................................................................................... 48

1 Key Concepts Covered in this Learning Unit .................................................... 50

2 Recommended Additional Reading .................................................................. 59

3 Recommended Digital Engagement and Activities ........................................... 60

4 Interactive Work Space .................................................................................... 60

1 Key Concepts Covered in this Learning Unit .................................................... 63

2 Recommended Additional Reading .................................................................. 73

3 Recommended Digital Engagement and Activities ........................................... 73

4 Interactive Work Space .................................................................................... 74

1 Key Concepts Covered in this Learning Unit .................................................... 76

2 Recommended Additional Reading .................................................................. 83

3 Recommended Digital Engagement and Activities ........................................... 83

4 Interactive Work Space .................................................................................... 83

1 Key Concepts Covered in this Learning Unit .................................................... 86

2 Recommended Additional Reading .................................................................. 89

3 Recommended Digital Engagement and Activities ........................................... 90

4 Interactive Work Space .................................................................................... 90

1 Key Concepts Covered in this Learning Unit .................................................... 92

2 Recommended Additional Reading .................................................................. 99

3 Recommended Digital Engagement and Activities ..........................................100

4 Interactive Work Space ...................................................................................100

IIE Module Guide BMNG5111

1 Key Concepts Covered in this Learning Unit ...................................................103

2 Recommended Additional Reading .................................................................108

3 Recommended Digital Engagement and Activities ..........................................108

4 Interactive Work Space ...................................................................................109

1 Key Concepts Covered in this Learning Unit ...................................................111

2 Recommended Additional Reading .................................................................117

3 Recommended Digital Engagement and Activities ..........................................117

4 Interactive Work Space ...................................................................................118

1 Key Concepts Covered in this Learning Unit ...................................................120

2 Recommended Additional Reading .................................................................123

3 Recommended Digital Engagement and Activities ..........................................124

4 Interactive Work Space ...................................................................................124

IIE Module Guide BMNG5111

1. Izimvo Exchange Izimvo is an isiXhosa word for ideas and so this is the

2. Activities These are varied interactions in which you can engage with the

3. Revision Exercises These are questions/ tasks based on theory.

IIE Module Guide BMNG5111

IIE Module Guide BMNG5111

Prescribed Book for

Oxford University Press.

Recommended

Additional Reading

Digital and Web

Resources

Digital Material