BUSINESS ACUMEN


"Courses within the business module are designed to give students a tool-box of skills they can use later in life when they are either running their own businesses or working in an organisation.

Topics covered range from the initial business plan and business strategy to marketing, finance, accounts, leadership and human resources.

Experiential learning is the emphasis, using board based simulations and focussing on Project Management principles and practices. Application of the module content is expected to be the basis on which the students manage their Quest Projects.

These projects are in a variety of areas, including Agriculture, Building, Environmental and Photographic and constitute a major deliverable at the end of the course."

Introduction to Business and Business Strategy

An introduction into the basic principles of business, through an understanding of turning inputs into outputs, and gaining the ability to know how to make a business successful.

With regards to business strategy, this module aims to give the students an understanding of the different methods of analysing current business positions, the extent of the external influences affecting business performance and future development, and the factors to be considered in assessing future strategic development.

Finance and Accounts

This aspect of the business course is aimed at giving the students the ability to be able to distinguish between the terms 'cost' and 'revenue', understand the meaning of the concept 'profit', understand the difference between a profit and loss account and a balance sheet, and understand the key components of each and what they tell the viewer about a business.

Marketing

This section of the business module is aimed at two aspects of marketing; market analysis and the marketing mix. This module aims to allow the students to be able to understand the meaning of the marketing function, and understand how markets are broken down by businesses to help target their activities more successfully.

Leadership in Business

This aspect of the course aims to give the students an understanding of the importance of leadership in business, as well as in everyday life. Students will be able to:

* Identify the main types of leadership style,
* Identify the main characteristics of different theories of leadership - trait, transactional, etc,
* Demonstrate an ability to apply different leadership styles and characteristics to different business situations,
* Demonstrate an understanding of the problems associated with leading change in an organization,
* Show an understanding of the process by which individuals and groups cope with change,
* Demonstrate an understanding of the advantages and disadvantages of different leadership approaches to a problem.

Human Resource Management

By the end of the course the students should be able to demonstrate knowledge of different recruitment methods, comment on the advantages and disadvantages of different selection processes including interview, presentation and psychometric testing, identify and explain some of the advantages and disadvantages of the process described in the scenario, produce a coherent, well argued and presented written report on the issues arising as a result of the scenario.