Diploma in Commerce in Business Management

Purpose

This qualification aims to provide learners with the skills, knowledge and applied competencies to manage an SMME business effectively and efficiently, and provides the foundation for growth into management positions in large businesses. Business management and finance are the core foci of the qualification and these are adequately supported by key skills identified as critical for this discipline to ensure a well-balanced qualification which will provide learners with the required skills and knowledge needed to enter the workplace. The graduate will be suitably equipped to assess business environments, develop appropriate strategies and manage the implementation of such strategies. Provision of skills in this area contributes to national developmental goals.

Rationale

The purpose of the Diploma is to develop graduates who can demonstrate focused knowledge and skills in business management. Learners will develop depth and specialisation of knowledge, together with practical skills through work integrated learning, to enable graduates to apply their learning in the workplace.

The lack of adequate management and business management skills in South Africa plays an important role in the high failure rate in the SMME arena. This qualification will provide a set of very important and essential skills to support national efforts to equip prospective business managers and entrepreneurs to produce better economic results.

The qualification focuses on the financial, economic and business management aspects of commerce. It includes important business related modules to ensure a balanced perspective of modern corporate business to inform the environment within which the graduates must operate. This, in turn, will ensure a well-rounded qualification.

This Diploma will help address the national skills shortage and graduates will be equipped to take up positions as

• Office administrators or managers.
• Managers (variety of positions).
• Administrative personnel.
• Business managers or trainee business managers.
• Entrepreneurs.

In addition, it provides graduates of the qualification an opportunity to further specialise in marketing or business.

It is assumed that the learner is competent in the language of instruction (English) and the theoretical and practical knowledge and understanding associated with the completion of a qualification at NQF Level 4.

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 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 Qualification at the Central Office for evaluation.

Recognition of Prior Learning may also be used by prospective learners who do not meet the admission requirements to gain access to the qualification.

Access to the Qualification

The applicant must

• Be in possession of a National Senior Certificate with English and a "D" rating, or recognised equivalent Grade 12 qualification.

OR.

• Be 23 years of age at registration and have three years appropriate work experience.

OR.

• Be in possession of a Higher Certificate or Advanced Certificate in a cognate field.

The Diploma: Commerce in Business Management consists of compulsory modules at three NQF Levels which total 364 credits.

NQF Level 5

11 Modules totalling 112 credits

• Business Calculations, 10 credits.
• Accounting 1A, 12 credits.
• Introduction to personal computing, 5 credits.
• Marketing 1A, 12 credits.
• Business Management 1A, 11 credits.
• Accounting 1 B, 12 credits.
• Business Communication, 10 credits.
• Marketing 1B, 12 credits.
• Employment Practices, 8 credits.
• Business Management 1B, 11 credits.
• Introduction to Project management, 9 credits.

NQF Level 6

12 Modules totalling 153 credits

• Economics A, 15 credits.
• Business management 2A, 18 credits.
• Work Integrated Learning (WIL) Project (year module), 15 credits.
• Financial Management 2A, 12 credits.
• Advanced Spreadsheets Projects, 8 credits.
• Business management 2B, 18 credits.
• Financial Management 2B, 12 credits.
• Economics B, 10 credits.
• Consumer and buyer behaviour, 15 credits.
• Commercial Law, 10 credits.
• Quality management, 10 credits.
• Risk management, 10 credits.

NQF Level 7

6 Modules totalling 99 credits

• Business management 3A, 18 credits.
• Financial Management 3A, 18 credits.
• WIL Project (year module), 15 credits.
• Business management 3B, 18 credits.
• Financial Management 3B, 18 credits.
• Industrial relations, 12 credits.

1. Assess, evaluate and apply managerial functions within the business environment.
2. Communicate effectively and professionally in a business environment, displaying the skills needed to present and communicate information reliably and appropriately.
3. Select and use technologies relevant to the business environment.
4. Demonstrate applied competence in assessing and evaluating business opportunities against the economic environment and other relevant factors to inform business decisions and strategic planning.
5. Demonstrate a critical awareness of the compliance and ethical considerations that apply to the effective functioning of a business entity.
6. Perform quality, compliant financial management functions to manage the economic well-being of a business entity.

Critical Cross-Field Outcomes

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

Associated Assessment Criteria for Exit Level Outcome 1

• Demonstrate sound knowledge and understanding of important rules, concepts and theories of principles of management in the business environment.
• Integrate and adapt managerial practices to various situations within the business environment.
• Perform key managerial actions competently, utilising the theoretical basis for these actions and analysing them to bring about strategic changes to managerial practices.
• Integrate various management functions within the business environment in the development of strategic plans.
• Formulate, implement and evaluate cross-functional decisions that enable organisations to achieve objectives.

Associated Assessment Criteria for Exit Level Outcome 2

• Communicate information effectively and professionally in a reliable and coherent format in a business environment using professional business communication discourse and formats.
• Use verbal and non verbal means to communicate effectively.
• Apply the principles of conflict management to a given situation.
• Communicate effectively in a multi-cultural context.

Associated Assessment Criteria for Exit Level Outcome 3

• Use appropriate technologies relevant to the business environment.
• Create a worksheet using a spreadsheet that is modified and formatted using the appropriate tools and features.
• Create electronic presentations using suitable software.

Associated Assessment Criteria for Exit Level Outcome 4

• Demonstrate knowledge and understanding of macro/micro theories and principles in order to apply them to the business environment.
• Interpret and apply demand and supply elasticity and applications.
• Assess and identify perfect competition and monopolies.
• Demonstrate knowledge of economic equilibrium, aggregates and economic performance indicators.

Associated Assessment Criteria for Exit Level Outcome 5

• Explain the concepts and principles of Commercial Law in the business and marketing environment.
• Determine requirements to ensure compliance with relevant business legislation.
• Apply appropriate ethical values and approaches to the marketing environment.

Associated Assessment Criteria for Exit Level Outcome 6

• Use accounting processes and relevant systems to produce balanced and accurate financial statements.
• Demonstrate knowledge and understanding of the concepts, principles and practices of accounting in the business environment.
• Record business transactions by completing financial statements.
• Apply a sound theoretical foundation to demonstrate practical competency in the performing and evaluation of financial management functions.
• Apply correct identification and recording of monetary values of transactions.
• Evaluate financial information in order to make sound business decisions within the business environment.

Integrated Assessment

Formative assessment

Learning and assessment are integrated. Continual formative assessment is done 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.