Course Title: Contribute to strategic direction

Part B: Course Detail

Teaching Period: Term1 2009

Course Code: BUSM5504C

Course Title: Contribute to strategic direction

School: 650T TAFE Business

Campus: City Campus

Program: C5130 - Diploma of Business

Course Contact : Dr John Gionea

Course Contact Phone: 613-9925 5490 mobile 0405 187

Course Contact Email:john.gionea@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Arie Herrnstadt

David De Garis

Nominal Hours: 70

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

NONE

Course Description

This course covers the establishment of the strategic direction of the organization to both sustain competitive advantage and enhance global competitiveness.  It aims to  provide students with an understanding of the macroeconomic environment and enable them to identify and explain movements in aggregate economic variables and their effects upon economic activity and business planning. This includes an examination of government monetary, fiscal and external policy.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBMGT601A Contribute to strategic direction

Element:

BSBMGT601A/01 Contribute to the creation and/or review of the organisational mission statement

Performance Criteria:

·Effective relationships are developed with stakeholders through consultation
·Organisational direction and values are developed and agreed upon
·Support is gained for strategic direction from all relevant stakeholders

Element:

BSBMGT601A/02 Analyse the external environment

Performance Criteria:

·Information requirements are determined and research undertaken or commissioned to deliver relevant information
·Research provides appropriate information to assist in the prediction of social, political, economic and technological developments in a global context
·Advice sought from appropriate experts wherever necessary
·Emerging and predicted trends are analysed for business opportunities
·Business opportunities and obstacles are documented and analysed
·The analyses are based on valid, reliable information and the methodology is cost effective
·Future activities and potential interests for the organisation and other relevant groups, are identified
·Steps to influence, modify and adapt to the external environment are identified

Element:

BSBMGT601A/03 Undertake competitive analysis

Performance Criteria:

·Existing and potential competitors and allies are identified
·Strengths and weaknesses of existing and potential competitors and allies are documented
·Potential for joint ventures and/or strategic alliances is explored
·Analytical methods are cost effective
·Cases for co-operative ventures are supported by risk and cost/benefit analyses, are consistent with organisation mission and values, and provide for appropriate due diligence
·Evaluation of competitive environment takes account of current trends and developments

Element:

BSBMGT601A/04 Analyse and review organisation's capabilities

Performance Criteria:

·Opportunities are provided for input to the analysis from people throughout the organisation
·Organisation's existing resources (tangible and intangible) are evaluated thoroughly
·Capabilities are identified and documented and ranked in terms of sustainable competitive advantage
·Value chain analysis is completed across the organisation and competitive advantages and disadvantages are identified
·Core competencies are identified and evaluated in terms of sustainable competitive advantage and global opportunities
·The mission, vision and purpose are consistent with the organisation's stated values, and are realistic but challenging

Learning Outcomes


As per the performance elements above.


Details of Learning Activities

To achieve the learning outcomes of the course students are required to participate in the learning activities listed below:

• Attendance at and note taking during teacher directed learning (scheduled lectures);
• Reading of and note taking from the prescribed textbook and other references;
• Completion of tutorial exercises prior to each workshop. Tutorial exercises consist of practical problems, short answer questions, multiple choice, case studies and extension exercises;
• Attendance, participation and discussion in class (tutorials);
• Optional consultation with academic staff;
• Completion of three (3) assessment tasks as indicated below.


Teaching Schedule

Week beginning  
Week 1 – 9 Feb

Basic Economics concepts, Discussion of the Course guide

Week 2 – 16 Feb Circular flow of income 
Week 3 – 23 Feb GDP and the business cycle
Week 4 – 2 Mar Aggregate demand 
Assignment (30 %) given out to students.
Assignment submission due week 14
Week 5 – 9 Mar Unemployment
Week 6 – 16 Mar Inflation
Week 7 – 23 Mar Macroeconomic Management
Week 8 – 30 Mar Class Test 1 (20%)
Week 9 - 6 April Discussion of Test 1 and Assignment
                                                                    Easter Break – 9th to 15 April inclusive
Week 9 – 13 April Discussion of Test 1 and Assignment
Week 10 – 20 April The AFS, Money and level of economic activity
Week 11 – 27 April Monetary policy
Week 12 – 4 May Fiscal policy
Week 13 – 11 May Fiscal policy 
Week 14 – 18 May International Trade and Exchange rates. Assignment (30%) due
Week 15 – 25 May Balance of Payments and International Investment
Week 16 – 1 June Revision
Week 17 – 8 June Final Class Test (50%)
Week 18 - 15 June Feedback on assessment


Learning Resources

Prescribed Texts

Prescribed Text
Fraser I, Fraser S, Gionea J (2005) Economics for Business 3rd Ed. McGraw Hill-Australia, Sydney

Recommended Text
Jackson, J., McIvor, R., McConnell, C., and Brue, S, Macroeconomics, 6th Edition (McGraw-Hill Australia, Sydney, 2001)


References


Other Resources

Print based resources
Students will be provided with a course guide that will outline topics and their objectives together with timelines. In addition students have access to online resources including lecture notes, overheads, tutorial questions, solutions to tutorial questions for each topic and samples of past assessment.


Overview of Assessment

Assessment will incorporate a variety of methods including class tests and a group assignment.
Class tests will be closed book consisting of multiple-choice questions, short answer questions and case studies. The assignment will include a combination of basic research questions and questions that analyse, evaluate and reinforce and assess the performance criteria of the course.

You will receive ongoing feedback on your progress in the course. Feedback on assessment will be given in a timely manner. You will be informed about how to improve your performance in the competency/course and what you need to do to be deemed competent or to gain a pass in the assessment.


Assessment Tasks

Students will be provided with more than one opportunity to demonstrate competence. Competency based assessment is detailed below.

Assessment Task
A class test & final class test
It will include a combination of multiple choice, short answer questions and extended answer questions.
When is it assessed?
Test 1 – in week 8   Value - 20%
Final Class Test in week 17  Value - 50%

Assessment Task
Assignment
The assignment will be a group assignment consisting of a maximum of three members.
It will include a combination of basic research questions and questions that analyse, evaluate and reinforce learning outcomes. The assignment will assess the performance criteria of the course.
When is it assessed?
Assignment – distributed in week 4. It is due in week 14  Value - 30%

The final mark is based on all three assessment tasks.  Students are assessed against all the performance elements of the course and must demonstrate an understanding of all elements to be deemed competent. 


Assessment Matrix

Performance Element


Class Test

 Group Assignment Final Test
Contribute to the creation and/or review of the organisational mission statement.   Y Y
Analyse the external environment. Y Y Y
Undertake competitive analysis. Y Y Y
Analyse and review organisation’s capabilities   Y Y
Underpinning knowledge and skills (learning outcomes 1 – 6) Y Y Y

Other Information

Assessment Criteria
The following links the assessment criteria to the topics covered in the course:

Topic
1. Illustrate and explain the circular flow macroeconomic model, the national income equilibrium and the factors that cause fluctuations in equilibrium.
Assessment activities
Test 1
Assignment
Assessment Criteria
• Identify the flows and markets in the basic circular flow of income model.
• Discuss how the modified circular flow of income model can explain fluctuations in economic activity and economic change.
• Define the main national accounts with particular reference to the Gross Domestic Product.
• Describe the measurement and construction of gross domestic product (GDP). Distinguish between nominal and real change in output.
• Identify and explain the components of aggregate demand. Discuss the main determinants of aggregate demand.
• Demonstrate equilibrium income using the AD-AS diagram.
• Outline comparative features of GDP size, growth and structure in East Asian economies

Topic
2. List and analyse the causes and effects of changes in the business cycle, and explain and illustrate the effect of demand on inflation and unemployment.
Assessment Activities
Test 1
Final Class Test
Assignment
Assessment Criteria
• Identify real GDP as an indicator of the business cycle. Identify and explain the features of the phases of the business cycle.
• Define unemployment and the unemployment rate.
• Discuss the types and causes of unemployment.
• Define inflation and explain its causes and consequences. Explain how inflation is measured in Australia

Topic
3. Explain the purpose and objectives of the financial system and discuss the nature and importance of its institutions, financial assets and markets.
Assessment Activities
Final Class Test
Assignment
Assessment Criteria
• Explain the role of the financial system in an economy.
• Explain the role of financial institutions, the central bank and the role of prudential regulation.
• Define the measures of the money supply.

Topic
4. Analyse the concept and purpose of economic management, and assess the effectiveness of fiscal and monetary policies.
Assessment Activities
Final Class Test
Assignment
Assessment Criteria
• Outline the objectives of macroeconomic management
• Discuss the objectives of monetary policy.
• Describe the roles of participating institutions and the route by which monetary policy affects the operation of the economy. Analyse the techniques of monetary policy.
• Discuss the effectiveness of monetary policy.
• Discuss the objectives of fiscal policy.
• Describe the roles of the budget in the implementation of fiscal policy. Discuss the effectiveness of fiscal policy.

Topic
5. Outline the reasons for trade between countries. Examine and discuss Australia’s trade and investment flows, the balance of payments, exchange rates and macroeconomic effects of foreign trade.
Assessment Activities
Final Class Test
Assessment Criteria
• Explain the reason for international trade and identify the benefits of trade using the concepts of absolute and comparative advantage.
• Define the balance of payments and identify its major components. Measure the balance of merchandise trade and the current account balance. Explain the causes and the effects of the Current Account Balance.
• Define exchange rates and identify how exchange rates are determined.
• Discuss the factors that impact on the value of exchange rate. Explain the economic impact of changes in the exchange rate.















Course Overview: Access Course Overview