1. U3 AOS1 - Business Foundations
1.1. Business Objectives
1.1.1. Make a profit
1.1.2. Increase market share
1.1.3. Meet shareholder expectations
1.1.4. Fufil a market need
1.1.5. Fufil a social need
1.1.6. Improve efficency
1.1.7. Improve effectiveness
1.2. Types of Businesses
1.2.1. Sole trader
1.2.2. Partnership
1.2.3. Private limited company
1.2.4. Public listed company
1.2.5. Social enterprise
1.2.6. Government business enterprise
1.3. Stakeholders
1.3.1. Internal environment
1.3.1.1. Owner/Shareholder
1.3.1.2. Manager
1.3.1.3. Employees
1.3.2. External operating environment
1.3.2.1. Customers
1.3.2.2. Suppliers
1.3.2.3. General community
1.4. Management styles
1.4.1. Autocratic
1.4.2. Persuassive
1.4.3. Consultative
1.4.4. Participative
1.4.5. Laissez-faire
1.5. Management skills
1.5.1. Communication
1.5.2. Planning
1.5.2.1. Strategic (long term) planning
1.5.2.2. Tactile (medium term) planning
1.5.2.3. Operational (short term) planning
1.5.3. Delegation
1.5.4. Leadership
1.5.4.1. Transactional Leader
1.5.4.2. Transformational Leader
1.5.5. Interpersonal skills
1.5.6. Decision making
1.6. Corporate Culture
1.6.1. Real
1.6.1.1. Rituals, rites and celebrations
1.6.1.2. Hero's
1.6.2. Official
1.6.2.1. Symbols
1.6.2.2. Values
2. U3 AOS2a - Human Resource Management
2.1. Employment cycle
2.1.1. Establishment phase
2.1.2. Maintenance phase
2.1.3. Termination phase
2.2. HRM role (POLC)
2.2.1. Planning
2.2.2. Organising
2.2.3. Leading
2.2.4. Controlling
2.3. Maslow's hierarchy
2.3.1. Intrinsic motivators
2.3.1.1. Self actualisation
2.3.1.2. Esteem
2.3.2. Both intrinsic & extrinsic
2.3.2.1. Social
2.3.3. Extrinsic motivators
2.3.3.1. Safety
2.3.3.2. Physiological
2.4. Locke & Latham Goal Setting Theory
2.4.1. Clarity
2.4.2. Challenge
2.4.3. Commitment
2.4.4. Feedback
2.4.5. Task complexity
2.5. Lawrence & Nohria Four Drive Theory
2.5.1. Drive to acquire
2.5.2. Drive to bond
2.5.3. Drive to learn
2.5.4. Drive to defend
2.6. Motivation Stategies
2.6.1. Performance related pay (PRP)
2.6.1.1. Financial incentive
2.6.1.1.1. Pay increases
2.6.1.1.2. Bonuses
2.6.1.1.3. Commission
2.6.1.2. Stake in financial performance
2.6.1.2.1. Share plan
2.6.1.2.2. Profit sharing
2.6.1.2.3. Gainsharing
2.6.2. Career advancement
2.6.3. Investment in training
2.6.4. Support
2.6.5. Sanctions
3. U3 AOS2b - Human Resource Management
3.1. Training options
3.1.1. On the job training
3.1.2. Off the job training
3.2. Performance management
3.2.1. Management by objectives (MBO's)
3.2.2. (Performance) appraisal
3.2.3. (Employee) self evaluation
3.2.4. Employee observation
3.3. Types of termination
3.3.1. Voluntary
3.3.1.1. Resignation
3.3.1.2. Retirement
3.3.1.3. Redundancy
3.3.2. Involuntary
3.3.2.1. Redundancy
3.3.2.2. Dismissal
3.3.2.2.1. Summary dismissal
3.3.2.2.2. Dismissal on notice
3.4. Termination mangement
3.4.1. Entitlement considerations
3.4.1.1. Wages or salaries owing
3.4.1.2. Leave entitlements
3.4.1.2.1. Accrued annual and long service leave
3.4.1.3. Redundancy payment (if applicable)
3.4.1.3.1. Calulated on a pro rata basis
3.4.1.4. Written notice of termination
3.4.2. Transition consideraions
3.4.2.1. Beyond legal requirements
3.4.2.1.1. Advice and support to ensure a smooth transition after termination
3.4.2.2. Smooth transition into retirement
3.4.2.2.1. Gradual reduction in days rostered on
3.4.2.2.2. Counselling on future lifestyle choices and supperannuation
3.4.2.3. Advice and support offered beyond legal requirements
3.4.2.3.1. Exit interviews upon the terminated employee leaving workplace
3.4.2.3.2. Help write job applications
3.4.2.3.3. Provision of references
3.4.2.3.4. Time off to attend job interviews
3.4.2.4. Outplacement services
3.4.2.4.1. Preparing terminated employee to secure a new source of employment
3.5. Awards, Agreements and Contracts
3.5.1. National Employment Standards
3.5.1.1. Maximum weekly hours of work
3.5.1.2. Right to request flexible work arrangements
3.5.1.3. Parental leave & related entitlements
3.5.1.4. Annual leave
3.5.1.5. Personal, carers & compassionate leave
3.5.1.6. Community service leave
3.5.1.7. Long service leave
3.5.1.8. Public holiday
3.5.1.9. Notice of termination & Redundancy pay
3.5.1.10. Provision of a fair work statement
3.5.2. Industry (wide) awards
3.5.2.1. Legally binding document determined by the Fair Work Commission, that sets out minimum wages and conditions for whole industries or occupations
3.5.3. Collective Agreement/Enterprise Bargaining Agreements
3.5.3.1. An agreement on pay and conditions of work made at the workplace level, and is negotiated between groups of employees (and their union) and employers (and their union)
3.5.4. Individual (employment contracts)
3.5.4.1. Legally binding contract between the employee and their employer, which establishes the wages and working conditions for the individual's employment
3.6. Participants in the workplace
3.6.1. Employees
3.6.2. Employers
3.6.3. Human resource manager
3.6.3.1. Negotiation of employment agreements with employees and their representatives
3.6.3.2. Training of (other) managers/supervisors to faciliate implementation of agreement within their areas of responsibility
3.6.3.3. Ensuring the implementation of all key terms of the agreement
3.6.3.4. Dealing with disputes/conflicts that may arise during the life of an agreement
3.6.4. Trade/occupation unions
3.6.5. Employer association
3.6.6. Fair work commission
3.7. Dispute resolution methods
3.7.1. Mediation
3.7.1.1. Confidential discussion of issues in a non-threatening environment, in the presence of an independant and objective third party who helps to facilitate a discussion with the disputing parties to work towards an agreement. However, they do not make a decision or offer suggestions nor solutions.
3.7.2. Arbitration
3.7.2.1. More formalised process than mediation, where both parties put their case forward to an independant third party (an arbitrator), who will then make a final and legally binding decision on the dispute
3.8. Types of industrial action
3.8.1. Protected
3.8.2. Unprotected
4. U3 AOS3 - Operations Management
4.1. Elements of an operations system
4.1.1. Inputs
4.1.1.1. Natural resources
4.1.1.2. Physical resources
4.1.1.3. Human resources
4.1.1.4. Information from a variety of sources
4.1.1.4.1. Market data
4.1.1.5. Time
4.1.2. (Transformation) process
4.1.3. Outputs
4.2. Technological developments
4.2.1. Automated production lines
4.2.2. Robotics
4.2.3. Computer aided design
4.2.4. Computer aided manufacturing
4.2.5. Artificial intelligence
4.2.6. Online services
4.3. Materials management
4.3.1. Forecasting
4.3.1.1. Qualitative
4.3.1.2. Quantitative
4.3.2. Materials planning
4.3.2.1. Master production schedule (MPS)
4.3.2.2. Materials requirement planning (MRP)
4.3.3. Inventory control
4.3.3.1. Just in time (JIT)
4.4. Quality management
4.4.1. Quality control
4.4.2. Quality assurance
4.4.3. Total quality management (TQM)
4.4.3.1. Continuous improvement
4.4.3.1.1. Kaizen
4.4.3.2. Customer focus
4.4.3.2.1. Internal customer
4.4.3.2.2. external customer
4.4.3.3. Employee empowerment
4.4.3.4. Quality assurance
4.5. Waste management
4.5.1. Reduce
4.5.2. Reuse
4.5.3. Recycle
4.6. Lean management
4.6.1. Pull
4.6.2. One piece flow
4.6.3. Takt
4.6.4. Zero defects
4.7. CSR Considerations
4.7.1. Environmental sustainability of inputs
4.7.2. Amount of waste generated from processes and production of outputs
4.8. Global considerations
4.8.1. Global sourcing of outputs
4.8.2. Overseas manufacture
4.8.3. Global outsourcing
5. U4 AOS1 - Reviewing Performance
5.1. Business change
5.1.1. Approaches to change
5.1.1.1. Proactive
5.1.1.2. Reactive
5.1.2. Why do business' change?
5.1.2.1. Internal environment
5.1.2.1.1. Corporate culture
5.1.2.1.2. Policies
5.1.2.1.3. Employees
5.1.2.1.4. Management
5.1.2.2. External operating environment
5.1.2.2.1. Customers
5.1.2.2.2. Suppliers
5.1.2.2.3. Competitors
5.1.2.3. External macro environment
5.1.2.3.1. Social
5.1.2.3.2. Economic
5.1.2.3.3. Technological
5.1.2.3.4. International
5.1.3. Types of change
5.1.3.1. Incremental change
5.1.3.2. Transformational change
5.2. Key performance indicators (KPI)
5.2.1. Establish business objectives —> Develop strategies —-> Evaluate performance (through KPI's)
5.2.1.1. Percentage of market share
5.2.1.2. Net profit figures
5.2.1.3. Number of sales
5.2.1.4. Rate of productivity growth
5.2.1.5. Staff absenteeism
5.2.1.6. Staff turnover
5.2.1.7. Number of workplace accidents
5.2.1.8. Number of customer complaints
5.2.1.9. Number of website hits
5.2.1.10. Levels of wastage
5.3. Lewin's forcefield analysis
5.3.1. Driving forces <— Equilibrium —> Restraining forces
5.3.2. How to complete a forcefield analysis
5.3.2.1. Identify
5.3.2.2. Weighting
5.3.2.3. Rank
5.3.2.4. Response
5.3.2.5. Evaluate
5.3.3. Managers who are trying to implement change must conduct a force field analysis, to identify and ensure that the driving forces exceed the restraining forces to ensure effective change
5.4. Types of forces in businesses
5.4.1. Driving forces
5.4.1.1. Owners and managers
5.4.1.2. Employees
5.4.1.3. Competitors
5.4.1.4. Legislation
5.4.1.5. Pursuit of profit
5.4.1.6. Reduction of costs
5.4.1.7. Globalisation
5.4.1.8. Technology
5.4.1.9. Innovation
5.4.1.10. Societal attitudes
5.4.2. Restraining forces
5.4.2.1. Managers
5.4.2.2. Employees
5.4.2.3. Time
5.4.2.4. Organisational inertia
5.4.2.5. Legislation
5.4.2.6. Financial considerations
5.5. Porter's generic strategies
5.5.1. To be the most effective, a business should only focus on either lower cost or differentiation to not be stuck in the middle. To build a true competitive advantage, they must be the best in their industry
5.5.2. Approaches
5.5.2.1. Broad target
5.5.2.1.1. Cost leadership (lower cost)
5.5.2.1.2. Differentiation (differentiation)
5.5.2.2. Narrow
5.5.2.2.1. Cost focus (lower cost)
5.5.2.2.2. Differentiation focus (differentiation)
5.5.3. Differentiation advantage
5.5.3.1. Differentiation strategies
5.5.3.1.1. High quality products
5.5.3.1.2. Multiple branding
5.5.3.1.3. Innovation/Research and Development
5.5.4. Cost advantage/leadership
5.5.4.1. Lower cost strategies
5.5.4.1.1. Reducing direct and indirect costs
5.5.4.1.2. Improving efficency
5.5.4.1.3. Controlling areas of management responsibility
6. U4 AOS 2 - Implementing Change
6.1. Leadership in change management
6.1.1. Preparation & Planning
6.1.2. Communication
6.1.3. Support
6.1.4. Accountability
6.1.5. Collaboration
6.2. Management strategies to respond to KPI's and seek new business opportunities
6.2.1. Staff Training
6.2.2. Staff Motivation
6.2.3. Change in management styles/management skills
6.2.4. Increased investment in technology
6.2.5. Improving quality production
6.2.6. Cost cutting
6.2.7. Initating lean production techniques
6.2.8. Redeployment of resources
6.2.9. Innovation
6.2.10. Global sourcing of inputs
6.2.11. Overseas manufacture
6.2.12. Global outsourcing
6.3. Corporate Culture and strategies for it's development
6.3.1. Establish appropriate rituals, rites and celebrations
6.3.2. Change the prevailing management style
6.3.3. Ensure that staff members are given sufficent training to reflect the values of the business
6.3.4. Establish new management structure
6.3.5. Implement policies reflecting values
6.3.6. Senior managers and the 'heros' of the business, act as role models
6.3.7. Communicate desired values to staff
6.3.8. Empower staff/build teams
6.3.9. Hire staff who fit within the values of the business
6.3.10. Change the work layout
6.3.11. Reward employees who exemplify appropriate values
6.3.12. Change the style of dress and language used in the workplace
6.3.13. Create value statements
6.4. Senge's Learning Organisation
6.4.1. Systems Thinking
6.4.2. Personal Mastery
6.4.3. Mental Models
6.4.4. Building Shared Vision
6.4.5. Team learning
6.5. Low Risk Strategies
6.5.1. Communication
6.5.2. Empowerment
6.5.3. Incentives
6.5.4. Support
6.6. High Risk Strategies
6.6.1. Manipulation
6.6.2. Threat
6.7. Lewin's 3 step change model
6.7.1. Unfreeze
6.7.2. Change
6.7.3. Refreeze
6.8. Effect of change on stakeholder groups
6.8.1. Owners
6.8.2. Managers
6.8.3. Employees
6.8.4. Customers
6.8.5. Suppliers
6.8.6. General Community
6.9. Corporate social responsibility (CSR) considerations when implementing change
6.9.1. Environment
6.9.2. Employees and managers
6.9.3. Customers
6.9.4. Suppliers
6.9.5. General Community
6.10. Reviewing KPI's to evaluate transformation
6.10.1. 1. Establish objectives
6.10.2. 2. Develop strategies
6.10.3. 3. Evaluate performance
6.10.4. 4. Implement management strategies
6.10.5. 5. Review KPi's