Bachelor of Commerce

Purpose

The purpose of this qualification is to provide graduate-level knowledge, applied competences and the necessary attitudes needed to prepare learners for professional careers within the field of commerce.

The Bachelor of Commerce provides solid critical knowledge of general business studies, as well as specialised education in the main area of focus, namely conceptual relevance with stronger emphasis on applied theory and demonstration of reflexive knowledge and competence.

This qualification provides for specialisation in marketing, strategic management or financial management from the second year of study, thus enabling the learner to develop the capacity to analyse scenarios in key areas of interest, and to make innovative decisions critical to the development and implementation of a variety of solutions for modern business ventures in the selected areas of specialisation.

Rationale

Bachelor's Degrees have the primary purpose of providing "a well-rounded, broad education that equips graduates with the knowledge base, theory and methodology of disciplines, and enables them to demonstrate initiative and responsibility in an academic or professional context. Principles and theory are emphasised as a basis for entry into the labour market, professional training, postgraduate studies, or professional practice in a wide range of careers".

This Bachelor of Commerce degree 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 need for the foundational knowledge, practical competence and reflexive application to be demonstrated in commerce are relevant in terms of South Africa's policies regarding its growing trade relations and the globalisation of business. In order to meet this need, graduates of commerce need to be equipped with the critical, analytical and organisational skills required to compete in this global business environment and enhance the sustainability of the South African economy. For learners who wish to follow a career in management, this degree has been designed in such a way that one of three areas of specialisation can be selected: Financial Management, Strategic Management or Marketing Management. Thus, the learner will be able to choose between streams (more conventionally known as "major areas") after having received a solid foundation in the theoretical knowledge associated with key management and business disciplines.

In summary, the aim of the qualification is to provide graduates who will be able to contribute management skills to the business sector to sustain economic growth and development in South Africa, increase South African business leadership resources and enhance the constructive role individuals need to play as intellectual leaders, creative and strategic thinkers and innovators in the commercial sector in South Africa. This programme will position graduates to take up postgraduate studies in commerce to allow further specialisation in one of the three areas that they have selected in the programme.

The decision to offer specialist streams from which learners can choose from the second year of study adds further value to this degree in commerce as it allows graduates to focus on studies in their own specific field of interest in commerce in a context that prepares them for professional careers within that area, i.e. strategic management, financial management or marketing management.

Depending on the streams chosen, graduates will be equipped to take up positions such as

• General managers.
• Marketing and sales managers.
• Distribution managers.
• Business managers.
• Financial managers.

In addition, it provides graduates access into studies for appropriate Postgraduate Degrees for further specialisation in their chosen field of interest.

It is assumed that the learner would have met the admission requirements and would thus be competent in the language of instruction (English) and the theoretical and practical knowledge and understanding accomplished at that level.

Recognition of Prior Learning

Learners can achieve this qualification in part or in whole through recognition of prior learning. The IIE Recognition of Prior Learning Policy and the IIE Academic Credit Policy guide this process.

Recognition of Prior Learning for formal learning (Credit recognition)

Learners may apply for credits or exemptions for subjects already passed in-house or at other recognised institutions.

Recognition of Prior Learning for informal and non-formal learning

Skills, knowledge and experience in respect of competencies acquired through informal and non-formal learning are also assessed in the Recognition of Prior Learning process.

The IIE Recognition of Prior Learning Policy and the IIE Academic Credit Policy guide the process whereby skills, knowledge and experience in respect of competence acquired through formal and non-formal learning are assessed. All Recognition of Prior Learning submissions are centralised at the National Offices of each educational brand and sent to the IIE Registrar and the academic Head of Programme at the Central Office for evaluation.

Access to the Qualification

The admission requirements are

• A National Senior Certificate granting permission to study at Bachelor Degree level.

OR.

• A Senior Certificate with a "B" rating and English as the language of teaching and learning or first additional language.

OR.

• National Certificate (Vocational), NQF Level 4 with a minimum of 60% in English (as the language of teaching and learning or first additional language) and in two more fundamental subjects as well as 70% in four vocational subjects.

OR.

• In the case of candidates over the age of 23 at registration or during their first year of attendance who have attained a Senior Certificate with at least 40% in at least four Higher Grade or Standard Grade subjects, at least three of which were passed simultaneously, one of which is a Higher Grade subject and one is English.

OR.

• Candidates having attained the age of 45 before or during the first year of registration.

OR.

• A Diploma or Advanced Diploma in a cognate discipline.

The Bachelor of Commerce comprises 366 credits made up as follows

Compulsory modules at NQF Level 5, 96 credits

• Skills for Professional Business Communication, 12 credits, Fundamental.
• Understanding Business 1A, 12 credits, Fundamental.
• Critical Skills for Academic Writing, 12 credits, Fundamental.
• Marketing 1A, 12 credits, Core.
• Accounting from a Business Perspective 1A, 12 credits, Core.
• Understanding Business 1B, 12 credits, Core.
• Accounting from a Business Perspective 1B, 12 credits, Core.
• Marketing 1B, 12 credits, Core.

Compulsory Core modules at NQF Level 6, 84 credits

• Principles of Microeconomics, 12 credits.
• Principles of Macroeconomics, 12 credits.
• Managing the Business Environment 2A, 12 credits.
• Law for Business, 18 credits.
• Corporate Law, 18 credits.
• Managing the Business Environment 2B, 12 credits.

Elective modules at NQF Level 6

Learners are to select modules totalling 42 credits from the following list

• Accounting from a Business Perspective 2A, 12 credits.
• Marketing Management 2A, 12 credits.
• Introduction to Statistics, 12 credits.
• Numeracy Concepts in the Business Environment, 12 credits.
• Industrial Relations, 18 credits.
• Marketing Management 2B, 18 credits.
• Accounting Systems in Business, 12 credits.
• Financial Management 2, 18 credits.
• Accounting from a Business Perspective 2B, 12 credits.
• Retail Management, 18 credits.
• Project Management, 12 credits.

Compulsory Core modules at NQF Level 7, 54 credits

• Business Project, 18 credits.
• Strategic Management 3A, 18 credits.
• Strategic Management 3B, 18 credits.

Elective modules at NQF Level 7

Learners are to select modules totalling at least 90 credits from the following list

• Taxation, 18 credits.
• Financial Management 3A, 18 credits.
• Supply Chain Management, 18 credits.
• Research Methodology, 18 credits.
• Marketing Management 3A, 18 credits.
• Research Practice, 18 credits.
• Information and Knowledge Management, 18 credits.
• Financial Management 3B, 18 credits.
• Enterprise Risk Management, 18 credits.
• Marketing Management 3B, 18 credits.

1. Communicate effectively and professionally in a business environment, using academic and professional business conventions and formats.
2. Formulate, implement and evaluate business strategies based on discipline-specific concepts, principles and business analysis.
3. Assess and interpret the financial position of a business entity to inform strategic business decisions.
4. Respond to given or contextual abstract problems related to the business environment.
5. Take informed ethical business decisions, drawing on appropriate ethical values and approaches, within a business environment.
6. Apply a range of methods to resolve problems or introduce change within a business environment.
7. Use information systems and appropriate technology in business.

Critical Cross-Field Outcomes

All the Critical Cross-Field Outcomes are addressed in the qualification.

Associated Assessment Criteria for Exit Level Outcome 1

• Use written and oral language conventions to communicate effectively in different contexts.
• Use different styles of writing utilising the appropriate conventions relating to genre and purpose.
• Use correct grammar, syntax and punctuation to produce the professional writing required in a business environment.

Associated Assessment Criteria for Exit Level Outcome 2

• Demonstrate a comprehensive knowledge and understanding of marketing management and strategies through the application of the concepts, facts and theories of marketing and marketing management.
• Demonstrate a comprehensive knowledge and understanding of business management and strategies through the application of the concepts, facts and theories of business management.
• Demonstrate a comprehensive knowledge and understanding of financial management and strategies through the application of the concepts, facts and theories of financial management.
• Apply competitive strategies to create competitive advantage within the broader business environment.
• Develop and apply structured and systematic processes to support the economic and financial well-being of the organisation.

Associated Assessment Criteria for Exit Level Outcome 3

• Demonstrate knowledge and understanding of the concepts, principles and practices of accounting in the business environment.
• Accurately record business transactions to complete financial statements.
• Evaluate and interpret the financial statements of a business entity to establish its financial position in order to make a sound business decision.
• Analyse the financial status and working capital of a business entity to inform strategic decision-making.

Associated Assessment Criteria for Exit Level Outcome 4

• Evaluate business opportunities and propositions in order to make informed decisions.
• Contextualise business and market trends to assess the potential global, regional and local impact that a variety of economic, political, environmental and societal opportunities and concerns may have on a business.

Associated Assessment Criteria for Exit Level Outcome 5

• Demonstrate knowledge and understanding of the concepts, principles and practices of commercial law within the business environment.
• Apply concepts, principles and practices of commercial law to any given situation within the business environment.
• Determine ways to ensure the compliance with and implementation of relevant business legislation.
• Demonstrate a critical awareness of the issues surrounding ethical business conduct and governance in practice.

Associated Assessment Criteria for Exit Level Outcome 6

• Collect data to assess business problems and challenges and identify an appropriate method to resolve the problem or meet the challenge.
• Conduct basic research to resolve a problem in the business environment through collecting, analysing and organising data and writing a research report.
• Use research results to inform business decisions related to business opportunities and propositions.

Associated Assessment Criteria for Exit Level Outcome 7

• Use standard accounting software packages to maintain the financial records of a business.
• Manage information and knowledge in an organisation.
• Evaluate opportunities to improve business processes and efficiency through the use of technology.

Integrated Assessment

Formative assessment

Learning and assessment are integrated. Continual formative assessment is required so that learners are given feedback on their progress in the achievement of learning outcomes. The scheme of work includes assignments based on the learning material and learners are given feedback. The process is continuous and focuses on smaller sections of the work and limited numbers of outcomes.

Summative assessment

Summative assessment is concerned with the judgement of the learning in relation to the Exit- Level Outcomes of the qualification. Such judgement includes Integrated Assessments which test the learner's ability to integrate the larger body of knowledge, skills and attitudes that are represented by the Exit-Level Outcomes as a whole. Examinations, projects, laboratory reports or equivalent assessment such as a portfolio of evidence assess a representative selection of the outcomes practised and assessed in the formative stage. Summative assessment also tests the learner's ability to manage and integrate a large body of knowledge to achieve the stated outcomes of a module.

Integrated Assessments are designed to achieve

• An integration of the achievement of Exit-Level Outcomes in a way which demonstrates that the purpose of the qualification as a whole has been achieved.
• The evaluation of learner performance which can provide evidence of applied competence.
• Criterion-referenced assessment which is clearly explained to, and understood by, the learners and which can be applied in the Recognition of Prior Learning.