Bmng5121 Mo

IIE Learn Module Outline BMNG5121/BMNG5111
Business Management 1A
BMNG5121/d/p/w
BMNG5111
BMNA020
MODULE OUTLINE 2024
(First Edition: 2018)
This guide 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 higher education
institution under the Higher Education Act, 1997 (reg. no. 2007/HE07/002).
Company registration number: 1987/004754/07.
© The Independent Institute of Education (Pty) Ltd 2024 Page 1 of 37

Table of Contents
Introduction.................................................................................................................................. 3
Using this Module Outline ........................................................................................................... 4
This Module on Learn................................................................................................................... 5
Icons Used in this Document and on Learn ................................................................................. 6
Module Resources........................................................................................................................ 7
Module Purpose ........................................................................................................................... 8
Module Outcomes........................................................................................................................ 8
Assessments ................................................................................................................................. 9
Module Pacer ............................................................................................................................. 11
Glossary of Key Terms for this Module ...................................................................................... 31

Introduction
Welcome to Business Management 1A, 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 6–10 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 outline 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 outline. 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.
We hope you will enjoy the module and take the opportunity to use the knowledge in future
modules and in your career.

Using this Module Outline

This module outline has been developed to support your learning. Please note that the content
of this module is on Learn as well as in the prescribed material. You will not succeed in this
module if you focus on this document alone.
• This document does not reflect all the content on Learn, the links to different resources,
nor the specific instructions for the group and individual activities.
• Your lecturer will decide when activities are available/open for submission and when these
submissions or contributions are due. Ensure that you take note of announcements made
during lectures and/or posted within Learn in this regard.

This Module on Learn

Learn is an online space, designed to support and maximise your learning in an active manner.
Its main purpose is to guide and pace you through the module. In addition to the information
provided in this document, you will find the following when you access Learn:
• An assessment brief;
• A list of prescribed material;
• A variety of additional online resources (articles, videos, audio, interactive graphics, etc.)
in each learning unit that will further help to explain theoretical concepts;
• Critical questions to guide you through the module’s objectives;
• Collaborative and individual activities (all of which are gradable) with time-on-task
estimates to assist you in managing your time around these;
• Revision questions, or references to revision questions, after each learning unit.
Kindly note:
• Unless you are completing this as a distance module, Learn does not replace your
contact time with your lecturers and/or tutors.
• Business Management 1A is a Learn module, and as such, you are required to engage
extensively with the content on the Learn platform. Effective use of this tool will
provide you with opportunities to discuss, debate, and consolidate your
understanding of the content presented in this module.
• You are expected to work through the learning units on Learn in your own time –
especially before class. Any contact sessions will therefore be used to raise and
address any questions or interesting points with your lecturer, and not to cover every
aspect of this module.
• Your lecturer will communicate submission dates for specific activities in class and/or
on Learn.

Icons Used in this Document and on Learn

The following icons are used in all your modules on Learn:
Icon Description
A list of what you should be able to do after working through the learning
unit.
Specific references to sections in the prescribed work.
Questions to help you recognise or think about theoretical concepts to be

covered.
Sections where you get to grapple with the content/ theory. This is mainly
presented in the form of questions which focus your attention and are aimed
at helping you to understand the content better. You will be presented with
online resources to work through (in addition to the textbook or manual
references) and find some of the answers to the questions posed.
Opportunities to make connections between different chunks of theory in

the module or to real life.
Real life or world of work information or examples of application of theory,

using online resources for self-exploration.

Module Resources
Prescribed Erasmus, BJ, Strydom, JW and Rudansky-Kloppers, S. 2019. Introduction
Material (PM) for to Business Management.11th ed. Cape Town: Oxford University Press.
this Module
Recommended Please note that a number of additional resources and links to resources
Readings, Digital, are provided throughout this module on the Learn platform. You are
and Web encouraged to engage with these as they will assist you in mastering the
Resources various objectives of this module. They may also be useful resources for
completing any assignments. You will not, however, be assessed under
examination conditions on any additional or recommended reading
material.
Module Overview You will find an overview of this module on Learn under the Module
Information link in the Course Menu.
Assessments Find more information on this module’s assessments in this document
and on the Student Portal.

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

Assessments
Integrated Curriculum Engagement (ICE)
Minimum number of ICE activities to complete 4
Weighting towards the final module mark 10%
BMNG5111
Tests/Assignments/Examination Test Assignment Examination
(take-home) (take-home)
Weighting 30% 25% 35%
Total marks 60 100 120
Open/Closed book Open book Open book Open book
Resources required Additional Additional Additional
research research research
required required required
Learning Units covered LU1 – 4 LU1 – 6 LU1 – 10
BMNG5121/d/p
Tests/Assignments/Examination Test Assignment Examination
Open/Closed book Closed book Open book Closed book
Resources required n/a Additional n/a
research
required
BMNG5121w
BMNA020
Assignments/Examination Assignment 1 Assignment 2 Examination
Open/Closed book Open book Open book Closed book
Resources required Additional Additional n/a
research required research required

Assessment Preparation Guidelines

Format of the Assessment Preparation Hints
(The Focus/ Approach/ Objectives) (How to Prepare, Resources to Use,
etc.)
Assignment The assignment will challenge you to You will need to start preparation
do some independent reading and well in advance. Consult the
research on the material covered. recommended additional readings
The assignment has been designed to in the relevant learning units.
test your ability to apply theory to a
given context/case.
Test Questions may require you to apply To prepare effectively for the test,
theory to a specific context. Practical you can include the following in
examples may be requested and a your preparation:
case study may be included. • Ensure that you work through
all the revision questions and
activities in the LUs tested.
• Check if you are confident
that you could answer
questions relating to all the
learning objectives for the
LUs tested.
Examination Questions may require you to apply To prepare effectively for this
theory to a specific context. Practical examination you can include the
examples may be requested and a following in your preparation:
case study may be included. • Ensure that you work through
all the revision questions and
activities in the LUs tested.
• Check if you are confident
that you could answer
questions relating to all the
learning objectives for the
LUs tested.

Module Pacer
Code Programme Contact Credits
Sessions
BMNG5111 BAC1, LAW1 48 Contact 12
BMNG5121 BAA1, BAD1, BBM1, BCC1, BCO1,
BIB1, BLG1, BLW1, BML1, BPH1, 48 Contact
BPU1, BSS1, DMT1
BMNG5121d BAD1d, BIB1d, BLG1d, BPU1d, 24 Contact
15
DMT1d + 12 Learn
BMNG5121p BAD1p, BIB1p, BLG1p, BPU1p 36 Contact
BMNG5121w BAD1w, BBM1w, BCO1w, BLG1w,
12 Contact
BPU1w
BMNA020 SBMNG 12 Contact -
Learning Unit 1 The Business World
Overview:
The first two learning units of Introduction to Business Management deal with the business
world and the concept of business management. The role of business in society is discussed
where the focus is placed on the different elements of business. Important issues such as
affirmative action, business ethics, social responsibility, consumerism and environmental
damage are also covered. The multiplicity of human needs is explained in relation to the
limited resources available to businesses. The community and its different economic systems
are covered in detail including the assumptions on which each one of the systems are based.
The learning unit concludes with a discussion of business management as a science.
To ensure that you are working towards mastering the objectives for this learning unit, please
also ensure that you complete the activities on Learn.

Learning Unit 1: Theme Breakdown

BMNG5111/ Theme 1: Business and society Prescribed Material (PM)
BMNG5121
Sessions: 1 – 5
BMNG5121d • Explain the role that organisations Chapter 1
Sessions: 1 – 2 play in satisfying the needs of society
BMNG5121p through the use of limited resources.
Sessions: 1 – 4 • Distinguish between the main
BMNG5121w economic systems in the world.
BMNA020 • Discuss the role of need satisfying
Week 1 institutions.
• Analyse the different ways in which to
enter the business world.
• Discuss the role of small businesses in
the economy.
Related Outcome: Theme 2: The nature of business
MO1 management
• Investigate the nature of business
Academic Week 1 management as a science.

Learning Unit 2 Entrepreneurship
Overview:
In this learning unit, you will learn about the concept of entrepreneurship. All aspects are
covered from the different views of entrepreneurship to the revival of entrepreneurship, as
well as the traits, characteristics and skills of entrepreneurs. Small businesses and business
opportunities are looked at as options for entrepreneurs to use their skills.
complete the activities on Learn.


BMNG5111/ Theme 1: The nature of Prescribed Material (PM)
BMNG5121 entrepreneurship
Sessions: 6 – 10
BMNG5121d • Discuss the role of small businesses Chapter 2
Sessions: 3 – 5 in the economy.
BMNG5121p • Discuss the role of
Sessions: 5 – 8 entrepreneurship in the South
BMNG5121w African context.
BMNA020 • Distinguish between the different
Week 2 traits, characteristics, skills,
resources and industry experience
required to add value to the
entrepreneur.
• Analyse the different ways in which
Related Outcomes: to enter the business world.
MO1 • Distinguish between the different
elements of the entrepreneurial
Academic Week 2 process.
• Explain what a feasibility study is.
• Explain the value of a feasibility
study to the entrepreneur.

Learning Unit 3 Establishing a business
Overview:
This learning unit focuses on the different forms of enterprise and the role of the business
plan in growing and sustaining the enterprise. We conclude with a discussion of the location
factors of a business.


BMNG5111/ Theme 1: Forms of ownership Prescribed Material (PM)
BMNG5121
Sessions: 11 – 15
BMNG5121d • Explain the key aspects to be Chapter 3
Sessions: 6 – 8 considered when choosing the
BMNG5121p form of ownership of a new
Sessions: 9 – 12 business.
BMNG5121w • Distinguish between the main
BMNA020 forms of enterprises found in
Week 3 South Africa.
Theme 2: Developing a business plan
• Explain the objectives and
Related Outcomes: importance of, and need for, a
MO1 business plan.
• Comment on the aspects to be
included in a business plan.
Academic Week 3
• Discuss the location factors of a
business.

Learning Unit 4 The Business Environment
Overview:
The role of business is to provide goods and services to the society in which it operates. In
doing so, the business needs to realise some profit. The function of making available goods
and services to the society is made possible by entrepreneurs or entrepreneurs who take risks
to form some businesses or grow existing ones within a legal framework prescribed by the
government of the country in which they operate.
This learning unit focuses on the business environment. We consider environmental changes
and investigate the business environmental model and its sub-environments. We conclude
with a discussion on how and why environmental scanning is conducted, looking at the
differences between opportunities, threats, strengths and weaknesses.


BMNG5111/ Theme 1: The Business Environment Prescribed Material (PM)
BMNG5121
Sessions: 16 – 20
BMNG5121d • Explain the meaning of Chapter 4
Sessions: 9 – 11 environmental change.
BMNG5121p • Explain the composition and
Sessions: 13 – 16 characteristics of the business
BMNG5121w environmental model.
BMNA020
Theme 2: The micro-environment
Week 4 and 5
• Distinguish between and discuss the
sub-environments of the
environmental model.
• Describe and comment on how each
of the environmental variables in the
micro, market and macro-
environments influence an industry
or business organisation.
• Distinguish between and comment
on the differences between
opportunities, threats, strengths and
weaknesses.
• Discuss how and why environmental
scanning is conducted.
Related Outcomes:
MO3
Academic Week 4
and 5

Learning Unit 5 Corporate Social Responsibility
Overview:
This learning unit builds on what is covered in Learning Units 3 and 4 and focuses on employing
a responsible approach to business conduct. You will learn more about Corporate Social
Responsibility (CSR) and how it contributes to sustainable development. In the process, we
will look at corporate governance, the role and value of stakeholders in a business and the
rationale for implementing CSR programmes in business organisations.


BMNG5111/ Theme 1: Corporate social responsibility Prescribed Material (PM)
BMNG5121 and sustainability
Sessions: 21 – 25
BMNG5121d • Explain ‘corporate social Chapter 5
Sessions: 12 – 14 responsibility’ (CSR) in your own
BMNG5121p words.
Sessions: 17 – 20 • Explain the rationale for
BMNG5121w implementing CSR programmes in
BMNA020 business organisations.
Week 6 Theme 2: Governance and stakeholders
• Explain corporate governance.
• Distinguish between the
stakeholders of a business
organisation (company).
• Provide reasons why it is important
for a business organisation to
engage with its stakeholders and
how to engage with stakeholders.
• Describe the concept ‘sustainable
development’ in your own words.
• Explain the contribution of CSR to
sustainable development.
Related Outcomes:
MO4
Academic Week 6

Learning Unit 6 Introduction to General Management
Overview:
In the previous learning units, you learned about the types of businesses, the responsibilities
of business and the environments in which they function. However, a business cannot function
without competent managerial staff and appropriate strategies in place. This learning unit will
focus on the various aspects related to general management within the business environment.


BMNG5111/ Theme 1: Management in business Prescribed Material (PM)
BMNG5121
Sessions: 26 – 30
BMNG5121d • Explain the role of management in Chapter 6
Sessions: 15 – 16 business.
BMNG5121p • Describe the fundamental
Sessions: 21 – 24 management functions.
BMNG5121w • Explain the management process.
BMNA020 • Discuss the different levels and
Week 7 and 8 functional areas of management.
• Describe the skills needed at
different levels of management.
• Discuss the various roles of
managers.
Related Outcomes:
MO1 Theme 2: Development of management
theory
Academic Week 7 • Explain the development of
and 8 management theory and the various
schools of thought in management.

Learning Unit 7 Planning
Overview:
All businesses need to be managed in such a way that they meet their goals. This learning unit
examines the internal management of organisations. It begins with an overview of the
management of resources before unpacking the first of the four fundamental management
functions, viz., planning, leading, organising and controlling in more detail.


BMNG5111/ Theme 1: Planning as a management Prescribed Material (PM)
BMNG5121 functions
Sessions: 31 – 35
BMNG5121d • Explain the nature of planning as a Chapter 7
Sessions: 17 – 18 management task.
BMNG5121p • Describe the importance of
Sessions: 25 – 27 planning as the first step in the
management process.
BMNG5121w Theme 2: The planning process
BMNA020 • Distinguish between the elements
Week 9 in the planning process.
• Evaluate the goals set during the
planning process.
• Explain the purpose of, differences
between, and hierarchy of goals in
an organisation.
• Differentiate between strategic,
functional and operational
planning.
• Differentiate between the various
strategies that could be
implemented to accomplish
specific goals.
Related Outcomes:
MO2
Academic Week 9

Learning Unit 8 Organising
Overview:
Once plans have been made to achieve the goals and strategies of an organisation, they need
to be implemented. This requires managers to make decisions regarding how this will be done
most effectively, including the delegation and coordination, i.e., organisation of tasks,
activities and resources. This learning unit will explore this organising function of a manager
in more detail.


BMNG5111/ Theme 1: The importance of organising Prescribed Material (PM)
BMNG5121
Sessions: 36 – 40
BMNG5121d • Discuss the importance of Chapter 8
Sessions: 19 – 20 organising as a management
function.
BMNG5121p Theme 2: The fundamentals of
Sessions: 28 – 30 organising
BMNG5121w • Discuss the fundamentals of
BMNA020 organising.
Week 10 Theme 3: Factors that influence
organisational structure
• Discuss informal organisation.
Related Outcomes: • Analyse the factors that influence
MO2 organising.
Academic Week 10

Learning Unit 9 Leading
Overview:
For an organisation to implement its plans and to achieve its strategic goals effectively,
management needs to understand what motivates employee behaviour, not only as
individuals, but also as groups and teams. This learning unit explores the characteristics of
effective leadership and management, and the importance of motivation and communication
in an organisation.


BMNG5111/ Theme 1: The nature of leadership Prescribed Material (PM)
BMNG5121
Sessions: 41 – 44
BMNG5121d • Define leadership. Chapter 9
Sessions: 21– 22 • Distinguish between leadership
BMNG5121p and management.
Sessions: 31 – 33 • Distinguish between the different
BMNG5121w components of leadership.
BMNA020 • Discuss the major leadership
Week 11 theories.
Theme 2: Leading people and teams
• Discuss contemporary leadership
Related Outcomes: issues and emerging approaches
MO2 to leadership.
• Explain why it is important for
Academic Week 11 managers to understand the
motivations for employee
behaviour.
• Differentiate between groups and
teams in an organisation.
• Describe a simple communication
model.

Learning Unit 10 Controlling
Overview:
In this learning unit, we examine the final step involved in the process of ensuring that the
goals of a business are achieved, i.e., controlling. Different types of control are considered as
well as how the control process functions.


BMNG5111/ Theme 1: The purpose of control Prescribed Material (PM)
BMNG5121
Sessions: 45 – 48
BMNG5121d • Explain management control. Chapter 10
Sessions: 23 – 24 • Provide an overview of the
purpose of control.
BMNG5121p Theme 2: The control process
Sessions: 34 – 36 • Distinguish between the elements
BMNG5121w of the control process and how the
BMNA020 control process functions.
Week 12 Theme 3: Control systems
• Distinguish between the different
types of control.
• Discuss the characteristics of an
effective control system.
Related Outcomes:
MO2
Academic Week 12

Glossary of Key Terms for this Module

Term Definition
Achievement One of the traits of an entrepreneur which refers to a person’s
motivation higher-than-average need to achieve (Erasmus et al, 2013).
Authority This is the right to command or give orders (Erasmus et al, 2013).
Budgetary control A formal plan expressed in financial terms that indicates how
resources are to be allocated to different activities (Erasmus et al,
2013).
Business Described as “all the factors or variables, both inside as well as
environment outside the business organisation, which may influence the
continued and successful existence of the business organisation”
(Erasmus et al, 2013).
Business ethics A subset of ethics that focuses on deciding between right and wrong
at the workplace and in business generally (Erasmus et al, 2013).
Business plan A written document that spells out where the business is heading
and explains in detail how it is going to reach that destination.
(Nieman & Nieuwenhuizen, 2009, p.103).
Business trust An increasingly popular but complex form of enterprise managed by
trustees for the benefit of beneficiaries. It has unique characteristics
that distinguish it from other forms of enterprise. (Erasmus et al,
2013).
Business world “…a complex system of individuals and business organisations, that in
a market economy, involves the activity of transforming resources
into products and services in order to meet peoples’ needs”
(Erasmus, et al, 2013).
Capital (Limited “ …buildings, machinery, cash registers, computers and other
resource of society/ products produced, not for final consumption, but for making
factor of production possible the further production of final consumer products” (Erasmus
et al, 2013).
Command economy Type of economic system where the state owns and controls the
(Communism) community’s resources or factors of production. Individuals own no
land, factories or equipment (Erasmus et al, 2013).
Competition Businesses compete with each other for a share of the market,
labour, capital and materials. In the market environment,
competition is the situation where businesses offering more or less
the same product or service compete for the patronage of the same
customers (Erasmus et al, 2013).
Co-operative An uncommon form of business used when certain economic
societies advantages can be obtained through joint action by members. In

South Africa they are mainly found in agriculture where farmers

benefit financially from buying and selling through being part of a co-
operative society (Erasmus et al, 2013).
Corporate Recognises corporations as legal persons with certain rights and
citizenship responsibilities in the same way that individual citizens have rights
and responsibilities as members of a community. As a legal entity, a
corporation has certain rights and is bound by responsibilities
Corporate Entrepreneurship that takes place within an existing business.
entrepreneurship
(also known as
Intrapreneurship)
Corporate social A company’s commitment to invest pre-tax profits in community-
investment (CSI) based projects. CSI does not refer to a company’s contribution to
society through its core business activities or local business
development (Erasmus, et al, 2013).
Corrective action Required in situations where actual achievements do not match the
required standards (Erasmus et al, 2013).
Creativity The creation of something new, such as a new business, by
developing a new product or service. Basically, creativity involves
new ideas but includes innovation which is the application of these
new ideas (Erasmus et al, 2013).
Delegation Assigning responsibility and authority for achieving organisational
goals (Erasmus et al, 2013).
Departmentalisation Process of grouping activities into departments (Erasmus et al, 2013).
Economic ordering In inventory management, it is the most efficient quantity to order
quantity when considering both inventory carrying costs and inventory
ordering costs (Erasmus et al, 2013).
Economic principle Society must choose how it will use its scarce resources to maximum
effect in order to satisfy its needs (Erasmus et al, 2013).
Entrepreneurial The process of identifying, creating or sensing an opportunity where
process others do not see it and finding and combining resources to pursue
the opportunity until it becomes a successful business (Erasmus et al,
2013).
Entrepreneurship The process by which individuals pursue opportunities without
regard to resources they currently control (Erasmus, et al, 2013).
Environmental The process of measurement, projection and evaluation of
scanning environmental change (Erasmus et al, 2013).
Feasibility The expectation that an idea or opportunity will survive and become
a successful business venture (Erasmus et al, 2013).

Franchise A business concept that is bought from a franchisor that gives the
franchisee (the person who purchases the concept) the right to
operate a business, using the franchise company’s name, products
and systems (Erasmus et al, 2013).
Free market An economic system that is based on the demand for goods and
services that are produced by private organisations seeking profit.
The state, therefore, has minimum interference in the market
Functional An organisational structure that is designed based on activities
organisational belonging to each management function being grouped together
structure (Erasmus et al, 2013).
Groups Two or more individuals who regularly interact with one another and
who work for a common purpose (Erasmus et al, 2013).
Human resources The physical and mental talents and skills of people employed to
create products and services (Erasmus et al, 2013).
Informal groups Groups that form due to the common interests or to satisfy the social
needs of their members (Erasmus et al, 2013).
Informal Interpersonal relations in a business that are not defined by the
organisation formal organisational structure – achieved through informal
communication (the grapevine) (Erasmus et al, 2013).
Innovation The act of introducing something new or approaching an old concept
in a new way (Erasmus et al, 2013).
Intermediaries Organisations that play a role in bridging the gap between the
manufacturer and consumer (Erasmus et al, 2013).
Inventory Raw materials, work-in-process, components and finished stock held
by the company (Erasmus et al, 2013).
Joint ventures A joint venture is a generic term designating some sort of co-
operation between persons or businesses (Erasmus et al, 2013).
Just-in-time A production system which eliminates the need to hold inventory as
suppliers deliver materials only as they are needed (Erasmus et al,
2013).
Legal/ juristic A juristic/legal person exists independently of its owners and has its
personality own rights, assets and obligations. It provides a business with
continuity and is linked to limited liability (Erasmus et al, 2013).
Line authority Authority delegated down through the line of command (Erasmus et
al, 2013).
Location Organising of a business according to the various locations that it
departmentalisation services (Erasmus et al, 2013).

Macro-environment The macro-environment is external to both the organisation and

market environment. It is made up of six components: the
technological, economic, social, physical, institutional-governmental
and international environments (Erasmus et al, 2013).
Market economy A system in which individuals themselves decide what to produce,
how to produce it and at what price to sell their products (Erasmus et
al, 2013).
Market environment This is encountered directly outside the business. The variables in the
market environment determine the nature and strength of
competition in the industry (Erasmus et al, 2013).
Matrix The matrix structure incorporates the advantages of the other
organisational organisational structures. Project managers and functional managers
structure both have authority over the same subordinates (Erasmus et al,
2013).
Micro-environment Factors that are within the control (at least to some degree) of
organisational members. It contains the vision, business functions
and resources of the organisation (Erasmus et al, 2013).
Motivation An inner desire to satisfy an unsatisfied need (Erasmus et al, 2013).
Natural resources The production factor of land, including agricultural land, industrial
sites, residential stands, mineral and metals, forests, water and all
such resources that humankind accesses in nature (Erasmus et al,
2013).
Operational goals Short-term goals concerning matters such as a special for a particular
month or short-term additional staff requirements (Erasmus et al,
2013).
Operational planning Organisational planning which covers the immediate future. It
extends up to about one year from the present time. Operational
planning is done by lower management to achieve operational
objectives (Erasmus et al, 2013).
Opportunity A favourable condition or trend in the market environment that can
be exploited by a deliberate management effort (Erasmus et al,
2013).
Organisational The beliefs and values shared by people in a business. The
culture “personality” of the business (Erasmus et al, 2013).
Organisational goals A particular future state of affairs to be achieved by a business
Organisational Organisational structure determines how tasks are divided and
structure resources deployed (Erasmus et al, 2013).

Outsourcing Outsourcing occurs when a business organisation appoints people

other than its full-time employees to complete work that needs to be
done. It usually takes place when a business organisation identifies
activities that can be completed by other organisations or individuals
that are particularly skilled at and experienced in completing those
activities (Erasmus et al, 2013).
Partnership A partnership is a type of business entity in which partners share
profits or losses of the business undertaking in which they have
invested. A partnership does not have a legal personality and
partners are jointly and severally liable (Erasmus et al, 2013).
Personal disposable The amount an individual has left over for personal expenditure on
income goods and services after payment of personal direct taxes and credit
repayments (Erasmus et al, 2013).
Planning The process in which objectives or goals are set, and policies,
strategies and procedures to meet these are formulated (Erasmus et
al, 2013).
Power A manager’s ability to influence his or her employee’s behaviour
Private company A private company is a company which may not have more than 50
shareholders. The right to transfer shares is restricted (Erasmus et al,
2013).
Product Assembles the activities of creating, producing, and marketing each
departmentalisa-tion product into one department (Erasmus et al, 2013).
Profit Can be considered to be the reward for meeting the needs of people
and it enables those people who have earned the profit to live off it
Public company A company whose shares (ownership) can be bought and sold by the
public. It is subject to more legal requirements than a private
company (Erasmus et al, 2013).
Quality control The process of ensuring that products and services meet the defined
requirements in order to satisfy customers' expectations (Erasmus et
al, 2013).
Resources Required to produce goods and services to satisfy society’s unlimited
needs. These resources are, however, very limited and consist of
natural resources, human resources, capital resources and
entrepreneurship (Erasmus et al, 2013).
Responsibility The duty to perform the task or activity as assigned (Erasmus et al,
2013).

Sole proprietorship A business owned and managed by one person, who is personally
liable for all business debts and obligations. For tax purposes, the
owner and his or her business are one entity, meaning that business
profits are reported and taxed on the owner's personal tax return
Staff authority An indirect and supplemental authority, usually based on special
knowledge in a particular field (Erasmus et al, 2013).
Stakeholder The process whereby companies interact with stakeholders so as to
engagement understand and respond to society’s expectations, to help build
better relationships with all parties and to help align business
practices with societal needs and expectations (Erasmus et al, 2013).
Stakeholders Individuals or groups who are affected by or can affect the business
activities of a company. Primary stakeholders are vital for the success
of the company, while secondary stakeholders have a less direct
impact (Erasmus et al, 2013).
Standards A planned target against which actual performance is compared.
They are set at strategic points and form part of the control process
in management (Erasmus et al, 2013).
Strategic planning The creation of long-term plans to achieve the strategic goals derived
from the vision and mission statements. These plans create synergy
within the whole organisation (Erasmus et al, 2013).
Suppliers Individuals who, or organisations that, provide a business with inputs
such as raw materials, equipment, capital and labour. These inputs
are needed to produce the products and services which the business
offers (Erasmus et al, 2013).
Sustainable Development that meets the needs of the present without
development compromising the ability of future generations to meet their own
needs (Erasmus et al, 2013).
Threat An unfavourable condition or trend in the market environment that
can, in the absence of a deliberate effort by management, lead to the
failure of the business and its products or services (Erasmus et al,
2013).
Timeliness A characteristic of an effective control system, timeliness means that
control data is supplied regularly as needed (Erasmus et al, 2013).
Transactional A leadership style where the leaders motivate their followers by
leadership appealing to their self-interest (Erasmus et al, 2013).
Transformation The process whereby resources are transformed into goods and
services that satisfy society’s needs. Also known as the production
process (Erasmus et al, 2013).
Transformational Process in which “leaders and followers raise one another to higher
leadership levels of morality and motivation” (Erasmus et al, 2013).

Triple bottom line The economic value that corporations add as well as the
environmental and social value they add or destroy (Erasmus et al,
2013).
Work team Team made up of a small number of employees with complementary
competencies who work together on a project, are committed to a
common purpose, and are accountable for performing tasks that
contribute to achieving an organisation’s goals (Erasmus et al, 2013).

Bmng5121 Mo

Uploaded by

Copyright:

Available Formats

You might also like

Bmng5121 Mo

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Bmng5121 Mo

Uploaded by

Copyright:

Available Formats

IIE Learn Module Outline BMNG5121/BMNG5111

The Independent Institute of Education (Pty) Ltd is registered with the

© The Independent Institute of Education (Pty) Ltd 2024 Page 1 of 37

© The Independent Institute of Education (Pty) Ltd 2024 Page 2 of 37

© The Independent Institute of Education (Pty) Ltd 2024 Page 3 of 37

Using this Module Outline

© The Independent Institute of Education (Pty) Ltd 2024 Page 4 of 37

This Module on Learn

© The Independent Institute of Education (Pty) Ltd 2024 Page 5 of 37

Icons Used in this Document and on Learn

Specific references to sections in the prescribed work.

Questions to help you recognise or think about theoretical concepts to be

Opportunities to make connections between different chunks of theory in

Real life or world of work information or examples of application of theory,

© The Independent Institute of Education (Pty) Ltd 2024 Page 6 of 37

© The Independent Institute of Education (Pty) Ltd 2024 Page 7 of 37

© The Independent Institute of Education (Pty) Ltd 2024 Page 8 of 37

© The Independent Institute of Education (Pty) Ltd 2024 Page 9 of 37

Assessment Preparation Guidelines

© The Independent Institute of Education (Pty) Ltd 2024 Page 10 of 37

© The Independent Institute of Education (Pty) Ltd 2024 Page 11 of 37

Learning Unit 1: Theme Breakdown

© The Independent Institute of Education (Pty) Ltd 2024 Page 12 of 37

Learning Unit 2 Entrepreneurship

© The Independent Institute of Education (Pty) Ltd 2024 Page 13 of 37

Learning Unit 2: Theme Breakdown

© The Independent Institute of Education (Pty) Ltd 2024 Page 14 of 37

Learning Unit 3 Establishing a business

© The Independent Institute of Education (Pty) Ltd 2024 Page 15 of 37

Learning Unit 3: Theme Breakdown

© The Independent Institute of Education (Pty) Ltd 2024 Page 16 of 37

Learning Unit 4 The Business Environment

© The Independent Institute of Education (Pty) Ltd 2024 Page 17 of 37

Learning Unit 4: Theme Breakdown

© The Independent Institute of Education (Pty) Ltd 2024 Page 18 of 37

Learning Unit 5 Corporate Social Responsibility

© The Independent Institute of Education (Pty) Ltd 2024 Page 19 of 37

Learning Unit 5: Theme Breakdown

© The Independent Institute of Education (Pty) Ltd 2024 Page 20 of 37

Learning Unit 6 Introduction to General Management

© The Independent Institute of Education (Pty) Ltd 2024 Page 21 of 37

Learning Unit 6: Theme Breakdown

© The Independent Institute of Education (Pty) Ltd 2024 Page 22 of 37

Learning Unit 7 Planning

© The Independent Institute of Education (Pty) Ltd 2024 Page 23 of 37

Learning Unit 7: Theme Breakdown

© The Independent Institute of Education (Pty) Ltd 2024 Page 24 of 37

Learning Unit 8 Organising

© The Independent Institute of Education (Pty) Ltd 2024 Page 25 of 37

Learning Unit 8: Theme Breakdown

© The Independent Institute of Education (Pty) Ltd 2024 Page 26 of 37

Learning Unit 9 Leading

© The Independent Institute of Education (Pty) Ltd 2024 Page 27 of 37

Learning Unit 9: Theme Breakdown

© The Independent Institute of Education (Pty) Ltd 2024 Page 28 of 37

Learning Unit 10 Controlling

© The Independent Institute of Education (Pty) Ltd 2024 Page 29 of 37

Learning Unit 10: Theme Breakdown