PREAMBLE
The course in Business Management at the senior school level embraces principles and activities in the core functional areas of business management. It also covers legal environment of business, information technology, globalization, economic integration and entrepreneurship.
- AIMS
The examination therefore intends to test candidates’
(i) understanding and appreciation of the basic concepts, principles and practices of business management;
(ii) understanding of the role of business management in an economy;
(iii) ability to relate the concepts and principles of business management to practical business situations.
(iv) ability to pursue further studies in business management.
3. SCHEME OF EXAMINATION
There will be two papers, Paper 1 and Paper 2; both of which will constitute a composite paper and will be taken at a sitting.
PAPER: 1 This will consist of fifty compulsory multiple-choice objective questions which will cover the entire syllabus and will carry 30 marks. It will last1 hour.
PAPER: 2 It will consist of a compulsory case study question and seven other essay questions, out of which candidates will be expected to answer any three. The case study will range between 200 and 250 words and will carry 25 marks, while the other questions will carry equal marks of 15 each. The paper will therefore carry a total of 70 marks.
- DETAILED SYLLABUS
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1. NATURE OF MANAGEMENT
1.1 Meaning and Process of Management
1.2 Forms of Business Organization
1.3 Business and Society
2. FUNCTIONS OF MANAGEMENT
2.1 Planning and Decision Making
1.1.1 Meaning of Management and administration
1.1.2 Basic Functions of
1.1.3 Levels of Management
1.1.4 Types and Roles of Managers
1.1.5 Difference between Administration and Management
1.2.1 Meaning of Business Organization
1.2.2. Identification of Major Forms: (Sole Proprietorship, Partnership,Limited Liability Company, Public orations, Co-operative society)
1.2.3. Procedures for the formations/Characteristics,
advantages and disadvantages of each form.
1.2.4 Causes of business failure.
1.3.1 Meaning of Business Environment Business Environment,
1.3.2 Forces in the Businesses Environment
1.3.3 Ethical, legal and social responsibilities of Businesses.
1.3.4 Primary and Secondary stakeholders – meaning and differences.
1.3.5 Responsibilities of businesses towards
2.1.1 Meaning and importance of planning
2.1.2 Steps in planning, Types
2.1.3 Meaning and of planning, Limitations to planning
2.1.3 Meaning and importance of decision making.
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2.1.4 Step in the decision making process. |
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2.1.5 Types of (Programmed and Non- |
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programmed) decisions. |
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2.1.6 |
Levels of management decisions. |
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2.2 |
Organizing |
2.2.1 Meaning, importance and activities of |
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organizing |
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2.2.2 Principles of organizing, |
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Organizational structure and |
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Organizational chart |
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2.2.3 Centralization and decentralization- |
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meaning differences, advantages and |
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disadvantages. |
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2.2.4 Meaning and benefits of delegation. |
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2.2.5 Reasons why managers do not delegate |
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2.2.6 Reasons why subordinates do not |
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accept Delegation |
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2.2.7 |
Guidelines for delegation |
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2.3 |
Directing |
2.3.1 |
Meaning and elements of directing |
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2.3.2 |
Motivation – meaning, intrinsic and |
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extrinsic factors |
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2.3.3 |
Maslow’s Hierarchy of Needs. |
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2.3.4 |
Leadership importance of good |
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leadership. |
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2.3.5 |
Leadership styles and Sources of |
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power available to leaders. |
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2.3.6 Communication –meaning, |
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importance, |
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channel formal and informal |
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2.3.7 |
The Communication process |
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2.3.8 |
Barriers to communication |
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2.3.9 |
Guidelines to effective |
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communication |
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2.4 |
Controlling |
2.4.1 |
Meaning and reasons for controlling |
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2.4.2 |
Steps in controlling. |
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2.4.3 |
Tools for controlling |
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3. |
MANAGEMENT |
3.1 |
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Concept of ICT |
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INFORMATION |
3.2 Data and information, meaning, |
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TECHNOLOGY |
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differences; |
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and sources of business information |
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3.3 Functions of the computer |
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3.4 |
Applications of computers in Business |
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3.5 |
Advantages and challenges of the use of |
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Computers in business |
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4. |
LEGAL ENVIRONMENT |
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OF BUSINESS |
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4.1 |
Law of Contract |
4.1.1. Meaning and elements of contract |
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4.1.2 |
Classification of contracts |
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4.1.3 Vitiating factors (Void and Voidable |
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contracts) |
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4.1.4 Ways of discharging a contract |
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4.2 |
Principles of Agency |
4.2.1 Creation of agency |
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4.2.2 Rights and duties of a principal |
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4.2.3 Rights and duties of an agent |
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4.2.4 Termination of agency |
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4.3 |
Negotiable Instruments |
4.3.1 Meaning and characteristics of |
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negotiable instruments |
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4.3.2 Types of negotiable instruments |
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(Cheques; Bills of exchange; |
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Promissory notes) |
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4.3.3 |
Cheques: Class, types, advantages, |
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disadvantages and ways of avoiding |
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cheque frauds. |
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5. |
FINANCE AND |
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FINANCIAL |
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INSTITUTIONS |
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5.1 |
Money |
5.1.1 Meaning and characteristics of money |
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5.1.2 Functions of money |
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5.1.3 Meaning and causes of inflation |
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5.2 |
Banking |
5.2.1 |
Types of banks |
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5.2.2 |
Functions of the Central bank |
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5.2.3 |
Functions of commercial and other |
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types of banks |
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5.2.4 Types of bank accounts. |
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5.2.5 Tools of monetary control |
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5.3 Risk Management |
5.3.1 Meaning of risk and risk management |
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and Insurance |
5.3.2 Types of business risks |
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5.3.3 Meaning and importance of insurance |
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5.3.4 Principles of insurance |
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5.3.5 Types of insurance and insurance |
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Policies |
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5.4 Stock Exchange |
5.4.1 Meaning and functions |
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5.4.2 Types of securities |
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6. ROLE OF GOVERNMENT |
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IN THE ECONOMY |
6.1 |
Role of government in an economy |
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6.2 |
Sources and types of government |
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revenue |
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6.3 |
Purpose of taxation |
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6.4 |
Types of taxes and challenges of tax |
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collection |
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6.5 |
Types and items of government |
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Expenditure |
- 7. INTERNATIONAL TRADAND PROBLEMS OF DEVELOPING
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ECONOMIES |
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7.1 International Trade |
7.1.1 |
Meaning of trade |
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7.1.2 Difference between domestic and |
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international trade |
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7.1.3 Documents used in domestic and |
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international trade |
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7.1.4 |
Reasons for international trade |
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7.1.5 |
Theories of absolute cost and |
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comparative cost advantage |
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7.1.6 |
Restrictions in International trade |
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Balance of Payments (BOP) and |
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measures for correcting BOP deficit |
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7.2 Developing Economies |
7.2.1 |
Challenges of developing economies |
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in relation to International trade |
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7.2.2 Ways of improving Developing |
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Economies by Government |
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7.2.3 |
Role of the following institutions in |
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international trade : International |
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Monetary Fund (IMF), International |
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Bank for Reconstruction and |
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Development (IBRD), United Nations |
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Conference on Trade and |
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Development (UNCTAD). |
- GLOBALIZATION AND ECONOMIC
INTEGRATION
8.1 Globalization
8.1.1 Meaning and causes of globalization
8.1.2 Advantages and disadvantages of
Globalization
8.2 Economic integration
8.2.1 Meaning of economic integration
8.2.2 Roles of the following in economic
integration :
Economic Community of West
African States (ECOWAS), African
Union (AU), European
Union (EU), P African European Pacific
Countries Association of South and
Eastern Asian Nations (ASEAN).
9. FUNCTIONAL
MANAGEMENT 9.1.1 Meaning of human resource
9.1 Elements of Human Management Resource Management
9.1.2 Functions of human resource management
9.1.3 Steps in the recruitment and selection process
9.1.4 Sources of recruitment
9.1.5 Types of training;
9.1.6 Job Analysis (job description and job specification)
9.1.6 Performance appraisal - meaning and importance
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9.2 |
Labour Relations |
9.2.1 |
Meaning of labour relations, Trade |
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Unions and industrial relations. |
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9.2.2 Functions of Trade Unions |
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9.2.3 Employers’ Association: Meaning and |
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functions. |
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9.2.4 |
Collective bargaining-process |
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importance and rights of parties |
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involved. |
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9.3 |
Fundamentals of |
9.3.1 |
Meaning of production and production |
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Production Management |
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Management. |
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9.3.2 Forms of Production - extractive, |
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manufacturing, construction, |
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commercial and personal services |
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9.3.3 Factors of production |
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9.3.4 Meaning of specialization and |
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exchange |
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9.3.5 Advantages and disadvantages of |
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specialization |
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9.3.6 Types of production process – job, |
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batch, flow |
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9.3.7 Steps in production planning and |
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Control |
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9.4 |
Principles of Marketing |
9.4.1 Meaning of Marketing: Meaning and |
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activities. |
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9.4.2 Market segmentation: Meaning and |
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bases. |
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9.4.3 |
Elements of the marketing mix |
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(product, price,promotion and place) |
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9.4.4 |
Steps in new product development |
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9.4.5 |
Stages of product life cycle |
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(introduction, growth, maturity and |
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decline) |
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9.4.6 |
Functions of packaging and uses of |
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branding |
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9.4.7 Factors affecting pricing and pricing |
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objectives |
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9.4.8 |
Promotion: Meaning, importance and |
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types |
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9.4.9 |
Channels of distribution |
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9.4.10 Functions of wholesalers and retailers |
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NOTES |
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9.5 Electronic Commerce |
9.5.1 |
e-commerce: Meaning and |
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(e -Commerce) |
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importance. |
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9.5.2 Meaning of Business Finance. |
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9.6 |
Business Finance |
9.6.1 Short-term and long-term sources of |
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finance |
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9.6.2 |
Government lending programmes; |
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Venture capital fund |
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10. |
ENTREPRENEURSHIP |
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AND SMALL BUSINESS |
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10.1 |
Entrepreneurship |
10.1.1 Meaning of entrepreneurship |
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10.1.2 Role of entrepreneurs |
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10.1.3 Characteristics of an entrepreneur |
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10.1.4 Content of business plan |
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10.1.5 Reasons for business successes and |
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failures |
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10.1.6 Record Keeping: Meaning, |
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importance and types. |
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10.1.7 Time Management: Meaning, |
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importance and techniques. |
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10.2 |
Small Business |
10.2.1 Small businesses: Meaning and |
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categories |
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10.2.2 Procedures in the formation of small |
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businesses |
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10.2.3 Importance of small businesses in the |
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economy |
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10.2.4 Challenges of small businesses |
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10.2.5 Role of government in promoting |
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small businesses |
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10.2.6 Ways of sustaining an established |
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business |
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SUGGESTED READING LIST |
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NAME |
PUBLISHER |
TITLE |
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Ansah, J.K. |
Wilas Press Ltd |
Introduction to |
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Business |
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Management |
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Attieku, B, Marfo-Yiadom, E |
Smartline Limited |
Business |
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Dorkey, T and Tekyi, K. |
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Management |
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Boachie-Mensah, F.O |
Woeli Publishing |
Essentials of |
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Services |
Management |
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Browne, D., Barass, M., |
Heinemann Education |
Business |
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W., Dransfield, R and |
Publishers |
Studies |
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Needham D. |
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for AS Level |
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Buckley, M. Brindley, B |
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and Greenwood, M.S, |
Longman Group |
Business Studies |
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Callaghan, P (ed). |
Sunderhid Tyre and |
Business |
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Wear |
Advanced |
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Level |
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Carysforth, C and Neild, M |
Heinemann Education |
Intermediat |
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Publishers |
Business |
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Danks, S. |
DP Publication |
Advanced |
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Business |
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Studies |
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Du Toit, G S, Erasmus, B G, |
Oxford University |
Introduction to |
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and Strydom, J W, |
Press South Africa |
Business |
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Management |
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Fardon, M. (ed) |
Osborne Books |
Business Studies, |
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Limited |
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Needham, D. and Dransfield, R |
Stanley Thornes |
Business Studies, |
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NAME |
PUBLISHER |
TITLE |
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Needle, D |
International Thomson |
Business in |
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Business Press |
Context |
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Nickels, W.G McHugh, |
Irwin McGraw-Hill |
Understanding |
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J.M And McHugh, S.M. |
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Business |
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Marfo-Yiadom, E |
Excellent Printing & |
Introduction to |
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Publishing |
Business |
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Redmond, PWD |
Pitman Publishing Ltd |
Mercantile Law |