Bachelor of Commerce

Purpose

The primary purpose of the qualification is to provide a well-rounded, broad education that equips graduates with the knowledge base, theory, and methodology of disciplines and fields of study, and to enable them to demonstrate initiative and responsibility in an academic or professional context (Council on Higher Education (CHE), 2013:32). According to the CHE's Bachelor of Commerce Standard (2020), the qualification is intended to equip graduates with conceptual understanding, knowledge, theory, skills methodology, and capacity to function effectively in a broad range of commercial, management and research activities.

The qualification aims to produce graduates who have advanced management knowledge and skills and are equipped to make ethical decisions in a rapidly changing business environment driven by technological advances. The core areas of economics and accounting are developed up to the second year of study, while the focus is on management, entrepreneurship, and research in the third year of study. Where the learner has selected one of the four elective majors, the third-year focus shifts to the chosen field of specialisation, while still covering strategic management, as well as the management of technology and innovation at the exit level.

The first year of study focuses on laying a solid foundation in the supporting areas of knowledge, namely mathematical concepts and principles, statistics, legal principles, and information technology (included in Induction to Business Studies). All learners will have to complete an introductory research module, as well as an extensive Project in the third year of their studies. The project will be informed by research and aims to integrate the understanding, knowledge, theory, and skills across the core areas of study.

At the end of this qualification, qualifying learners will be able to

• Operate responsibly, legally, and ethically in a commercial environment, with due consideration to cultural diversity, the social reality, and the need for transformation in South Africa.
• Demonstrate advanced understanding of the changing business environment and harness technological advances and other innovations appropriately across the areas of responsibility.
• Apply a range of appropriate methods from the field of accounting, economics, and management to solve business problems and implement solutions in a competitive business environment.
• Conduct basic research with a view of finding solutions to contemporary business problems.
• Demonstrate an adaptive mindset to stay abreast of developments in the business world and show due regard for the need for sustainability.
• Demonstrate integrated knowledge in the areas of accounting, economics, and management in a typical business environment.
• Use the knowledge and skill to identify, analyse, evaluate, and critically reflect on complex business problems through the application of evidence-based solutions and theory-driven arguments.
• Identify and independently validate sources of information and manage such information.
• Communicate a range of ideas and opinions in well-formed arguments to a range of business audiences.

Rationale

There is an urgent need in South Africa for more managers, researchers, and technologists in the field of commerce and technology to promote innovation and multi-disciplinary approaches, as is evident from surveys of employers, who emphasise the importance of generally applied competencies within a business context. The qualification has been designed as a constructive contribution to addressing the national skills shortage of versatile business leaders who are required to perform a range of business functions, from financial and/or generalist business managers to entrepreneurs and marketers. The qualification is therefore intended to broaden access by offering a solid educational foundation to a wide range of learners wanting to operate in a complex and rapidly changing business environment.

The qualification also offers several majors in specialist fields related to scarce skills in South Africa, namely Investment Management, Risk Management, Financial Management, and Economics. Learners will be allowed to either graduate with a general BCom degree or to add a specific major at the end of year one of their study, thus enabling them to make an informed choice for their desired future. The institution offers a well-established range of commerce and management qualifications, including a few specialists Bachelor of Commerce (BCom) degrees (e.g., BCom in Project Management, BCom in Digital Marketing) through its School of Commerce. The institution has since evaluated its qualification offering and a dire need was identified for a general commerce degree that will equip learners not only for employment in the fields of commerce and business but also as entrepreneurs. The qualification will address the employment needs of the larger learner population, in support of the institution's vision to broaden access.

The current business environment is characterised by social, economic, and political transformation, as well as cultural diversity and ethical imperatives and is highly impacted by the changes in the technological domain. The qualification ensures that a solid foundation is established in the core areas of accounting, economics, and management. In the general degree, the area of management will be advanced to the exit level of the qualification. Learners will be grounded in the science of data and decision-making, as well as in the management of technology and innovation. Cultural diversity and ethical imperatives are covered in the Global Citizenship module, which aims to instil the values and attitudes needed to transform that South African society in the interests of all its citizens. The South African economy desperately needs a growing small business sector and as a result, all learners will be exposed to Entrepreneurship at the third-year level. This module will equip them to integrate and apply their knowledge and skills acquired in the qualification, in the context of establishing new businesses.

The typical learner enrolling for the qualification is interested in employment in a business, in any of the areas of finance, accounting, economics, or management. These learners mostly aspire to be employed in large corporates, while a smaller proportion of applicants are interested in starting their own businesses. The qualification will equip graduates for a broad range of jobs in business, including:

• Manager in any business, including retail, manufacturing, financial services, other services.
• Specialist role in accounting or finance department.
• Managerial role in sales/customer relations department.
• Investment advisor/consultant.
• Junior investment analyst.
• Fund management trainee.
• Risk practitioner.
• Risk analyst.
• Junior risk manager.
• Junior financial analyst.
• Financial management trainee.
• Financial assistant.
• Economic research analyst.
• Economics trainee in a public or private institution.
• Economic adviser/consultant.

Graduates who wish to further their studies will proceed to a postgraduate diploma or an honours degree in a field related to business. The ultimate goal once they have gained sufficient work experience is the completion of a Master of Business Administration qualification that will equip them with appropriate knowledge and skills to operate as senior and executive managers in business, or alternately, a master's in commerce, to take the commercial acumen and knowledge acquired to a higher level. Graduates will be equipped with management skills and knowledge at NQF level 7, which will enable them to pursue postgraduate diploma studies in more specialised business or commerce areas, such as supply chain management, technology, and innovation management.

Graduates will be able to further their studies with a related honours degree, should they wish to further their research skills. This is particularly appropriate for graduates in the Economics and Financial Management majors. Graduates will be employable in any business sector, locally or internationally, as either generalist team leaders or managers, or as specialists. Graduates will also have basic entrepreneurial skills that will enable them to apply their knowledge and skills to start small businesses, which in turn may create employment for others.

The graduate will be able to show responsibility, accountability, and ethical judgement in the South African business environment. Graduates will be sensitised toward the economic and social needs of South African society. A specific focus will be placed on ethical decision making, given the paralysing effects of corruption in all spheres of business and government in South Africa. The degree will also enable graduates to further their studies in a wide range of business-and- management-related fields. Graduates in the majors will have sufficient knowledge and skills to further their studies in their chosen field of specialisation.

Recognition of Prior Learning (RPL)

The institution has an approved Recognition of Prior Learning (RPL) policy applicable to equivalent qualifications for admission into the qualification. RPL will be applied to accommodate applicants who qualify. RPL thus provides alternative access and admission to qualifications, as well as advancement within qualifications. RPL may be applied for access, credits from modules and credits for or towards the qualification.

RPL for access

• Learners who do not meet the minimum entrance requirements or the required qualification that is at the same NQF level as the qualification required for admission may be considered for admission through RPL.
• To be considered for admission in the qualification based on RPL, applicants should provide evidence in the form of a portfolio that demonstrates that they have acquired the relevant knowledge, skills, and competencies through formal, non-formal and/or informal learning to cope with the qualification expectations should they be allowed entrance into the qualification.

RPL for exemption of modules

• Learners may apply for RPL to be exempted from modules that form part of the qualification. For a learner to be exempted from a module, the learner needs to provide sufficient evidence in the form of a portfolio that demonstrates that competency was achieved for the learning outcomes that are equivalent to the learning outcomes of the module.

RPL for credit

• Learners may also apply for RPL for credit for or towards the qualification, in which they must provide evidence in the form of a portfolio that demonstrates prior learning through formal, non-formal and/or informal learning to obtain credits towards the qualification.
• Credit shall be appropriate to the context in which it is awarded and accepted.

Entry Requirements

The minimum entry requirement for this qualification is

• Senior Certificate (SC), NQF Level 4 with endorsement and a minimum symbol of E in Mathematics Higher Grade, or D in Mathematics Standard Grade.

Or

• National Senior Certificate (NSC), granting access to bachelor's degree studies with a minimum of 50% in four 20-credit subjects, and a minimum of 40% in English Home Language or First Additional Language, and a minimum of 50% in Mathematics or 70% in Mathematical Literacy.

Or

• National Certificate Vocational (NCV), NQF Level 4 granting access to Bachelor's degree studies with a minimum of 60% in three fundamental subjects including English and Mathematics, and a minimum of 70% in four vocational subjects.

Or

• Higher Certificate in Business Management, NQF Level 5.

Or

• Higher Certificate in Business Studies, NQF Level 5.

This qualification consists of the following compulsory and elective modules at National Qualifications Framework Levels 5, 6 and 7 totalling 360 Credits.

Compulsory Modules, Level 5, 120 Credits

• Induction to Business Studies, 10 Credits.
• Accounting, 20 Credits.
• Introduction to Management, 20 Credits.
• Business Maths, 10 Credits.
• Economic, 20 Credits.
• Business Law and Compliance, 20 Credits.
• Data and Decision-making, 10 Credits.
• Statistics, 10 Credits.

Compulsory Modules, Level 6, 120 Credits

• Economics, 20 Credits.
• Accounting, 20 Credits.
• Financial Management, 20 Credits.
• Global Citizenship, 20 Credits.
• Risk Management, 20 Credits.
• Economic Policy and Sustainability, 20 Credits.

Compulsory Modules, Level 7, 80 Credits

• Technology and Innovation Management, 20 Credits.
• Introduction to Research, 15 Credits
• Business Project, 25 Credits.
• Strategic Management, 20 Credits.

Elective Modules, Level 7, 20 Credits (Select one module from the following)

• Entrepreneurship, 20 Credits.
• Risk Management, 20 Credits.
• Corporate Finance, 20 Credits.
• International Economics, 20 Credits.

AND

Elective Modules, Level 8, 20 Credits (Select one module from the following)

• Futures Thinking and Scenario Planning, 20 Credits.
• Financial Markets, 20 Credits.
• Investment Management, 20 Credits.

1. Demonstrate the ability to operate responsibly, legally, and ethically in a commercial environment, with due consideration to cultural diversity, the social reality, and the need for transformation in South Africa.
2. Demonstrate advanced understanding of the changing business environment and harness technological advances and other innovations appropriately across the areas of responsibility.
3. Demonstrate the ability to apply a range of appropriate methods from the field of accounting, economics, and management to solve business problems and implement solutions in a competitive business environment.
4. Demonstrate the ability to critically review information gathering, synthesise data, evaluation and manage processes in specialised contexts to develop creative responses to problems and issues.
5. Demonstrate an adaptive mindset to stay abreast of developments in the business world and show due regard for the need for sustainability.

6 Demonstrate an ability to make informed ethical business decisions, drawing on appropriate ethical values and approaches, within a business environment.

Associated Assessment Criteria for Exit Level Outcome 1

• Analyse the use of resources and evaluate business opportunities to make informed decisions.
• Apply detailed knowledge of the key legal concepts in a commercial environment.
• Critically engage with current debates on ethical approaches in business practice and governance.
• Reflect on and contextualise economic, business and market trends to assess the potential impact that a variety of economic, political, environmental, and societal opportunities and concerns may have on an organisation/business globally, regionally, and locally.
• Examine how the socioeconomic situation in South Africa affects businesses.
• Use cultural diversity as a positive driver for business success and contribute to the transformation for the common good.

Associated Assessment Criteria for Exit Level Outcome 2

• Apply major theoretical perspectives of technology and innovation.
• Identify and analyse business opportunities, against the backdrop of technological advancements.
• Implement business innovations, using advanced technologies.
• Engage continuously with fast-paced and unprecedented changes in businesses driven by digitalisation.
• Evaluate the role of different business structures in achieving innovation.

Associated Assessment Criteria for Exit Level Outcome 3

• Apply theoretical principles relating to the fields of accounting, economics, and management in a day-to-day business environment.
• Apply fiscal policy, monetary policy and the South African financial markets and system to interpret the competitive drivers in a relevant industry.
• Examine the financial management concepts, facts, strategies and theories to evaluate the day-to-day business challenges in a competitive commercial environment.
• Recommend suitable solutions for business problems, using financial, economic, and managerial lenses.
• Identify critical business success factors and the potential impact of various factors on business success and continuity.
• Establish competitive advantage within the broader South African and International business and economic environment.

Associated Assessment Criteria for Exit Level Outcome 4

• Identify and critically engage with major contemporary business problems and propose viable solutions.
• Analyse the existing research on specific business problems and apply sound research principles in a research project.
• Identify different approaches and select research methodologies suitable to business solutions.
• Execute a basic research project to address the identified economic challenges.
• Construct coherent arguments for own positions relating to a specific business challenge.
• Summarise and present the findings of the research project in a report.
• Manage information and knowledge in an organisation.

Associated Assessment Criteria for Exit Level Outcome 5

• Discuss the importance of adaptiveness and agility at a personal level and at a business level, as well as at a team level.
• Critically analyse the importance of sustainable economies and businesses.
• Identify relevant current and future developments for the commercial environment.
• Recommend suitable steps in a commercial environment, to act timeously, without negative consequences to the business.

Associated Assessment Criteria for Exit Level Outcome 6

• Select relevant and suitable data and information in the right format for business decision purposes.
• Evaluate and interpret the financial statements of a business entity to establish its financial position to enable sound business decision-making
• Evaluate financial status and working capital position of a business entity to support strategic decision-making
• Identify prospects, opportunities and evaluate business strategies to leverage the proposed opportunities.
• Discuss the need for more information and data with the need to make an informed decision within an acceptable timeframe.
• Make decisions and justify those decisions and actions drawing on appropriate ethical values and approaches within a commerce environment.
• Work as part of a team, provide ethical business leadership and business patterns and statistics as the basis for good business decisions to ensure the economic well-being of the organisation

INTEGRATED ASSESSMENT

The institution commits to the core principles of assessment, namely validity, reliability, integrity, transparency, accountability, fairness, absence of bias, sensitivity to language, credibility in the form of supportive administration procedures, assessment range, authenticity, directness, integration, manageability, and practicability. To ensure that the process results in a fair and valid assessment, the entire assessment process is subject to a layered checking and re-checking process that ensures the integrity of the overall assessment and its place in the qualification.

Formal and informal assessments are used to monitor learners' progress against learning outcomes. The institution needs to set an assessment strategy that assists in preparing learners for a world of work. The workplace is categorised by constant change, an increased focus on the application of principles and skills as well as collaboration with other individuals. This is contrary to the past, where pure knowledge about subjects was still valued. This means that the assessment strategy needs to make provision for open book, simulations as well as collaborative assessments. Moreover, the combination of different assessment types will be changing throughout the qualification, with more complex assessment tasks as learners progress through the qualification.

The number, combination, weightings and nature of the formal formative and summative assessments will be decided upon as part of an assessment strategy per module, depending on the nature of the module. Learners are guided at the beginning of the semester regarding the assessment structure of each module to set expectations. As a principle, no sub-minimum for formative assessments should be required for entrance into summative assessments. There will be a minimum number of formal assessments, depending on the credit value of the module. In addition to this, formative assessments should not count for more than 50% of the final overall mark of the module.

Formative assessments will include

• Class / online tests.
• Self-assessment.
• Quizzes.
• Assignments.
• Presentations or projects.
• Observations of simulated or real tasks.
• Participation.
• Discussion.

Formal and informal formative assessments that will be used are as follows

• Study materials (including module-specific study guides) include activities that are aimed at assisting learners with initial exploration, understanding and application to assist with learning. These activities are brief to keep learners motivated and interested.
• Self-assessment exercises are provided at the end of each topic. The questions are more formal and are aimed at testing the knowledge of learners; in addition, learners get an idea of the type of questions they may get in the exams. >Learners are provided with model answers at the back of the relevant study guide.
• Learners are expected to participate in class and/or online discussions centred on theoretical concepts, innovative

applications of technology, or options for addressing real-world problems. These activities aim to encourage critical and independent thought and assist in developing learners' communication skills.

• Prior to the exams, learners are given mock exam questions or previous exam papers that simulate exams. The questions are presented in the standard test/exam format and learners are encouraged to attempt them under standard assessment conditions.
• Learners work together to actively explore real-world problems and challenges. They work together to plan, manage, and resolve a task or a problem, presenting their results in the form of written reports and/or computer software applications. Hence, they develop critical thinking, problem-solving, collaboration, communication, and self-management skills, supplemented by a variety of technical and computing skills.

Feedback is recognised as an essential component of the learning process. However, the type of feedback given to learners will vary depending on the type of assessment task being assessed. Feedback is provided during mock test feedback sessions and in the form of written comments on test scripts, focusing on the strengths and weaknesses of the learner. For all assessment tasks, learners are provided with information as to how marks are allocated, while model answers help learners to improve their understanding of the content that was assessed. Substantive individual formative assessment feedback is given on an individual basis.

Summative assessments will be a combination of open/closed book exams, take home and sit-down exams, as well as submissions. Authenticity forms will be signed, and proctoring/invigilation is taking place. Summative assessments will include:

• Examinations (written or oral).
• Presentations.
• Projects.
• Reports.

The final summative assessment may be based on any of the following formats

• An invigilated, venue-based examination (either open-book or closed-book) testing learners' knowledge and competency about all associated module outcomes, as well as exit level outcomes where applicable.
• A comprehensive research or systems development project accompanied by appropriate supporting documentation and/or an oral presentation, demonstrating learners' knowledge and competency regarding all associated module outcomes, as well as exit level outcomes where applicable.
• An open-book 'take-home' examination based on a complex organisational case study, that requires learners to write a project proposal explaining how a technology-based solution could address the business problems described in the case study, demonstrating learners' knowledge and competency regarding all associated module outcomes, as well as exit level outcomes where applicable.