Short Learning Programme in Business Management

Since 1970 the Small Business Advisory Bureau offers business advice to prospective and existing business people and to present an academically based, professional yet practical training programme to existing and potential business owners and managers to run their businesses sustainable and successful, to employ people from the community and to create more jobs in the economy.

Purpose of the course

This programme will enhance participants’ human resource management skills in developing and maintaining effective human resource policies in practice. Participants will gain knowledge of recruitment, selection and placement procedures and will be able to conduct selection interviews and make employment decisions. This programme covers the importance of inducting new staff into an organisation, motivating personnel, controlling personnel as well as the purpose and application of the Basic Conditions of Employment. This programme will familiarise participants to management by demonstrating the importance of small businesses in the economy as well as being able to specify small business problems. Participants will know how management activities involve running a successful business and will be able to identify the basic management elements and applying strategic planning. This programme will teach participants to understand the importance of income statements, balance sheets, the double entry system in accounting, financial analyses of business operations, market segmentation and the process thereof, feasibility of business opportunities, elements of marketing, customer service and retail business pricing policies. Participants will be able to explain the viability assessments of businesses. Participants will be able to choose one elective from specific management of retail, services and production.

Admission requirements

At least one year business experience as independent owners of businesses or two years as managers or four years as employees at small to medium businesses. Participants should have the potential as business owners and/or managers and require basic business skills and knowledge to run businesses. Numeracy skills to do basic calculations must already be in place.

Learning assumed to be in place

Course outcomes and assessment criteria

Course outcomes and the associated assessment criteria

Study Unit	Outcomes	Assessment Criteria
Human Resource Management Skills	Be responsible for the development and maintenance of effective human resource policies in practice.	Participant will be assessed on the following criteria: - Discuss the role of human resource management. - Explain the situational approach to human resource management. - Discuss the importance of personnel policies. - Understand and develop personnel requirements.
	Recruitment, selection and placement procedure.	- Explain and discuss the different organisational structures. - Be able to write a job description. - Explain and discuss resources and methods needed for recruitment and selection.
	Conduct selection interviews and make employment decisions.	- Development evaluation tools according to the policy and procedures of organisations. - Explain the interviewing process and different types of interviews. - Explain how to conduct an interview. - Discuss contracts with successful candidates and how to notify unsuccessful candidates.
	Explain the importance of inducting new staff into the organisation.	- List and explain the advantages of training. - Define the aspects of training of new staff. - Explain and apply the induction training process. - Explain and apply the formal training process.
	Motivation of personnel.	- Discuss the theory of motivation. - Define and explain the different motivational models.
	Control of personnel.	- Explain the reasons for not delegating and how managers should delegate. - Identify and explain the functions of the performance appraisal process. - List and explain the limitations of performance appraisal. - Discuss performance appraisal techniques.
	Demonstrate an understanding of the purpose and application of the Basic Conditions of Employment.	- The major purpose and application of the Basic Conditions of the Employment Act outlined with examples. - The major features of the Basic Conditions of the Employment Act. - Describe regulations relating to working time, overtime, Sunday work, leave, sick leave, maternity, family responsibility leave, Public holidays, remuneration and termination of employment set out in the Basic Conditions of the Employment Act.
Introduction to Management	Demonstrate the importance of small businesses in the economy.	- Defining small businesses and discuss why people operate small businesses. - Demonstrate the understanding of shortcomings in operating small businesses.
	Specify small business problems.	- Understand and discuss the unique external and internal problems and failures of running small businesses.
	Describe management and the management activities involved in running successful businesses.	- Explain different definitions of management. - Demonstrate with a schematic presentation your understanding of the management process.
	Identify the basic management elements.	- Identify and explain planning, organising, activation, leadership and control as a basis for management. - Discuss and explain the advantages of thorough planning. - Discuss and explain the requirements for thorough planning. - Explain and understand the planning process. - Discuss the organisational process and symptoms of poor organisation. - Explain influence, authority and power in managing businesses. - Discuss the control process in running businesses. - Explain and discuss requirements for a control system.
	Understand the importance of strategic management and strategic planning in the small business environment.	- Analyse and discuss strategic management processes. - Analyse and discuss strategic planning processes.
	Identify important additional management tasks that can assist in managing businesses.	- Explain and discuss motivation as an additional management task. - Explain and demonstrate the communication process as an additional management task. - Explain and demonstrate coordination as an additional management task. - Explain and demonstrate delegation as an additional management task and explain the delegation process. - Explain and demonstrate discipline as an additional management task. - Explain and demonstrate human development and explain how entrepreneurs must manage themselves.
Financial Management Skills	Understand the income statement and the importance thereof.	- Understand revenue and expenditure. - Explain and distinguish between the concepts, gross and net. - Calculate the purchase price of products as well as the selling price and cost price. - Understand and calculate the concept, costs of sales. - List and understand operating expenses and compile an income statement.
	Understand the pricing policy in retail businesses.	- Distinguish between the concepts, gross profit and markup. - Calculate a markup percentage and the gross profit percentage on products. - Explain and list factors which influence prices for retail businesses. - Understand and apply the concept, theoretical gross profit percentage, in practice. - Calculate an average gross profit percentage of a business.
	Understand and explain how to do viability assessments on new or existing businesses.	- Compile a running cost budget. - Determine and calculate the break-even turnover of an enterprise. - Determine and calculate the budgeted turnover and ideal turnover of an enterprise. - Determine and calculate the cash break-even turnover of an enterprise. - Understand and compile a turnover budget. - Understand and compile a purchase budget. - Understand and compile a cash flow budget.
Financial Management Skills	Understand the balance sheet and the importance thereof.	- Demonstrate an ability to identify and evaluate the difference between assets, liabilities and owners’ equity in businesses. - Explain and differentiate between current assets and current liabilities. - Illustrate and understand the accounting equation. - Understand own capital and outside capital in businesses. - Understand and calculate return on investments. - Calculate the instalment of a loan and understand the interest and capital redemption on a loan.
	Understand the double entry system in accounting.	- Use the balance sheet equation as a basis for the entry of transactions in a business. - Understand and explain an information system to compile the income statement. - Understand and explain an information system to compile the balance sheet.
	Explain financial analysis of business operations.	- Identify the concepts of financial analysis and explain in terms of their use in business. - Identify the users of financial analysis and explain. - Understand and calculate liquidity and solvability of businesses. - Be able to do the necessary adjustments to financial statements. - Be able to summarise the financial results of businesses. - Be able to calculate the different ratios for analysis proposes. - Be able to determine objectives for the different ratios. - Be able to compile a flow of funds statement.
Marketing Management	Describe market segmentation and market segmentation processes.	- Discuss the purpose of market segmentation in terms of the division of the market into groupings with similar characteristics, needs, wants and behaviours. - Explain market segmentation implications in relation to improved marketing efforts. - Identify geographic, demographic, psychographic and behaviouristic segmentation bases and explain.
	The feasibility of a business opportunity.	- Explain how to identify new business opportunities. - Identify and discuss sources of ideas for new products and services. - Identify hazards in the choice of new business opportunities. - Understand and explain technical, financial, target mark and organisational requirements to determine the feasibility of businesses.
	Understand the elements of marketing.	- Describe and understand the elements of marketing and the influence of each on businesses. - Understand and explain the influence of products, pricing, place, promotions and people in marketing. - Explain market investigation. - Determine a gap in the market and where to establish a specific business. - Describe how to inform the customers of the business on the products they are selling. - Describe how to attract customers to the business.
	Understand customer service.	- Explain how customer satisfaction can be increased. - Discuss the practical application of the service motive. - Explain and discuss how one can ensure customer satisfaction.
Choose one of the following elective subjects: a) Specific Management Retail (Commercial)	Explain and understand the unique elements of retail businesses.	- Demonstrate and apply marketing in retail businesses. - Identify and discuss the importance of control in retail businesses. - Understand and discuss product display and the layout of retail businesses. - Understand and explain the costing of products in retail businesses. - Compile an income statement for service type businesses. - Calculate the financial viability in starting a retail business.
b) Specific Management Services	Explain and understand the unique elements of service type businesses.	- Demonstrate and apply marketing in service type businesses. - Identify and discuss the importance of control in service type businesses. - Understand and discuss the layout of service type businesses. - Understand direct overhead costs, indirect overhead costs and administrative costs. - Understand and explain the costing of products in service type businesses. - Compile an income statement for a service type business. - Calculate the financial viability in starting a service type of business.
c) Specific Management Production	Explain and understand the unique elements of production or manufacturing type businesses.	- Demonstrate and apply marketing in production or manufacturing type businesses. - Identify and discuss the importance of control of production or small manufacturers. - Understand and discuss the layout of production or small manufacturers. - Understand material, labour, direct overheads and indirect overheads. - Understand and explain the costing of products for manufacturers or producers. - Compile an income statement for manufacturers or producers. - Calculate the financial viability in starting a production or manufacturing type of business.

Assessment

80% attendance of compulsory study schools because a huge amount of the theory are backed up with practical examples during the contact training. Assessments will be through case studies during the study school, assignments must be submitted on a specific date and final examination on each of the subjects on a specific date. To pass a course, participants have to obtain a final mark of 50% or more. The weight of the assignment mark is 40% and the examination mark 60% in the determination of the final mark. A sub-minimum of 40% must be obtained in the examination of each subject to pass that specific subject. If participants fail and assignment marks were more than 40% they can write a re-exam in that specific subject but the final mark will not exceed 50%.To obtain the programme in business management cum laude, participants have to complete the programme within one academic year and have to obtain an average of at least 75% for all six subjects.

Method of assessment

The assignment and final examination will test participants on the outcomes of each subject to determine participants’ understanding of the outcomes and if participants can apply the outcomes in practice.

Additional information

Programme number

K01-100-1

Mode of delivery

Mixed

Target group

Existing independent business owners and/or managers and/or employees and potential business owners and/or managers and/or employees of small to medium business enterprises.