VPQ Level 6 Business, Management and Enterprise

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1 VPQ Level 6 Business, Management and Enterprise VPQ Level 6 Certificate in Business, Management and Enterprise The VPQ Level 6 Certificate in Business, Management and Enterprise is a 30 credit qualification. Learners must complete 2 of the 4 Units Unit Title Level Credit GLH Units 6.1 Strategic Management Strategic Planning Managerial Finance Marketing Strategy VPQ Level 6 Diploma in Business, Management and Enterprise The VPQ Level 6 Diploma in Business, Management and Enterprise is a 90 credit qualification. Learners must achieve 4 mandatory units plus 2 optional units Learners must also complete the mandatory Research Project Unit Title Level Credit GLH Mandatory Units 6.1 Strategic Management Strategic Planning Managerial Finance Marketing Strategy Optional Units 6.5 Managing Stakeholder Engagement Customer Focus for Strategic Advantage Corporate Communication Strategies Continuous Improvement in Customer Service Leadership skills Sustainable Business Strategy VPQ Level 6 Extended Diploma in Business, Management and Enterprise The VPQ Level 6 Extended Diploma in Business, Management and Enterprise is a 130 credit qualification. Learners must achieve 5 mandatory units plus 2 optional units Learners must also complete the mandatory Research Project Unit Title Level Credit GLH Mandatory Units 6.1 Strategic Management Strategic Planning Managerial Finance Marketing Strategy

2 6.5 Managing Stakeholder Engagement Optional Units 6.6 Customer Focus for Strategic Advantage Corporate Communication Strategies Continuous Improvement in Customer Service Leadership skills Sustainable Business Strategy Research project Unit Specifications Unit Format Each unit in VPQ s suite of Level 6 Business, Management and Enterprise qualifications is presented in a standard format. This format provides guidance on the requirements of the unit for learners, tutors, assessors and external verifiers. Each unit has the following sections: Unit Title The unit title reflects the content of the unit. The title of each unit completed will appear on a learner s statement of results. The unit aims section summarises the content of the unit. Level All units and qualifications have a level assigned to them which represents the level of achievement. The level of each unit is informed by the level descriptors. Credit Value The credit value is the number of credits that may be awarded to a learner for the successful achievement of the learning outcomes of a unit. Guided Learning Hours (GLH) Guided learning hours are an indicative guide to the amount of input that a tutor will provide to a learner, to enable them to complete the unit. This includes lectures, tutorials and workshops and time spent by staff assessing learners achievement when they are present. Learning Outcomes The learning outcomes set out what a learner is expected to know, understand or be able to do as the result of the learning process. Assessment Criteria

3 The assessment criteria describe the requirements a learner is expected to meet in order to demonstrate that the learning outcome has been achieved.

4 6.1 Strategic Management This unit focuses on the main elements of strategic management. It investigates how strategic analysis lays the foundations for strategy formulation and how strategy is implemented through organisational structures and processes. Candidates will understand the general, competitive and internal organisational environments. The unit also investigates the role of administrative management in strategy formulation and implementation and deals with different approaches to strategic change. Candidates who aspire to management positions involving strategic analysis, strategy formulation and implementation will develop knowledge, understanding and skills necessary for such job roles. 1 Understand the concept of strategic management 1.1 Investigate the concept of strategy 1.2 Identify the elements of the strategic management process 1.3 Analyse critically the role of values, vision and mission statements in organisations 1.4 Evaluate different perspectives on strategy formulation 1.5 Demonstrate how the external and internal environment influence strategy formulation 2 Be able to conduct strategic analysis 2.1 Differentiate between organisations general, competitive and internal environments 2.2 Appraise critically the tools available for the analysis of the general, competitive and internal environments 2.3 Apply appropriate tools to analyse organisational environments 3 Understand how to formulate organisational strategy 4 Understand how to implement organisational strategy 5 Be able to assess the role of administrative management in strategy formulation and implementation 3.1 Differentiate between business and corporate strategy 3.2 Compare and contrast different approaches to business level strategy 3.3 Assess the role of business strategy in achieving competitive advantage 3.4 Demonstrate how markets influence strategy formulation 3.5 Compare and contrast different approaches to corporate level strategy 3.6 Assess organisational strategies suitability, feasibility and acceptability 4.1 Analyse and evaluate different organisational structures and their influence on strategic choice 4.2 Analyse critically the relationship between organisational processes and innovation 4.3 Recommend strategic control and reward systems 4.4 Evaluate different approaches to strategic change 5.1 Analyse critically the role of administrative managers in designing and implementing organisational strategy 5.2 Assess how administrative management facilitates the implementation of strategy across the functional areas of organisations

5 6.2 Strategic Planning This unit provides the learner with an understanding of how to review current organisational management strategies and the skills to develop a strategy plan in an organisational context. Learners will discover how important it is for an organisation to understand what is happening in their external environment and how the environment is changing. This will then enable learners to review an organisation s existing business plans, using appropriate tools and techniques. Having explored the competitive environment, learners will understand how to develop strategic options using modeling tools and then develop a strategic plan, giving due consideration to the core values, vision and mission of the organisation. 1 Understand the external environment affecting an organisation 2 Be able to review existing business plans and strategies of an organisation 3 Be able to develop options for strategic planning for an organisation 4 Be able to construct a strategy plan for an organisation 5 Be able to examine factors affecting an organisational strategy plan 6 Be able to plan for the implementation of a strategy plan 1.1 Explain the importance of external factors affecting an organisation 1.2 Analyse the needs and expectations of stakeholders of an organisation 1.3 Analyse the major changes taking place in the external environment that will affect strategy 2.1 Use appropriate tools to analyse the effects of current business plans 2.2 Review the position of an organisation in its current market 2.3 Evaluate the competitive strengths and weaknesses of an organisation s current business strategies 3.1 Use modelling tools to develop strategic options for an organisation 3.2 Develop a comparative understanding of activity from organisations in the market 3.3 Develop a comparative understanding of activity from organisations in the market 4.1 Propose a suitable structure for a strategy plan that ensures appropriate participation from all stakeholders of an organisation 4.2 Develop criteria for reviewing potential options for a strategy plan 4.3 Propose a suitable structure for a strategy plan that ensures appropriate participation from all stakeholders of an organisation 5.1 Compare core organisational values (ethical, cultural, environmental, social and business) with the current business objectives of an organisation 5.2 Develop appropriate vision and mission statements for an organisation 5.3 Produce agreed future management objectives for an organisation 5.4 Develop measures for evaluating a strategy plan 6.1 Develop a schedule for implementing a strategy plan in an organisation 6.2 Create appropriate dissemination processes to gain commitment from stakeholders in an organisation 6.3 Design monitoring and evaluation systems for the implementation of a strategy plan in an organisation

6 6.3 Managerial Finance This unit demonstrates the links between business decision-making, risk assessment and financial information. Once finance is placed in context, the unit covers financial reporting and the way financial performance is measured. It investigates how businesses are financed through their fixed and working capital requirements. It explains how the financial management of each organisation is influenced by its governance and ownership structure as well as accounting standards and the ethical basis on which financial reporting is organised. Candidates who aspire to management positions will develop financial knowledge and understanding needed to make sound and responsible business decisions. 1 Understand the role of financial information and financial analysis in business risk assessment and decisionmaking 1.1 Examine the factors that guide and drive decision-making in business 1.2 Assess the significance of financial factors in business decisionmaking 1.3 Identify the characteristics of business risks that impact on financial and business decisions 1.4 Summarise financial priorities that should be considered in business decision-making 2 Understand how financial statements and their structure provide a sound basis for business decision-making 3 Understand sources of finance and how businesses finance fixed assets and working capital 4 Understand different ownership structures and how they influence and measure financial performance 2.1 Compare the accrual and cash flow approaches to accounting and financial reporting and the implications of each for business decision-making 2.2 Explain the structure and content of final accounts and their uses for business decision-making 2.3 Interpret financial information in balance sheets, income statements and sources and applications of funds statements 2.4 Differentiate between financial decisions relating to capital expenditure and those relating to revenue expenditure 2.5 Calculate financial ratios from final accounts that can be used to support business decision-making 3.1 Differentiate between long - term financing needs and working capital needs for businesses 3.2 Compare the sources of long - term financing and working capital financing for businesses 3.3 Identify why access to working capital is critical to business continuity 3.4 Examine critically the techniques needed to manage cash flow and the key business decisions on which cash flow impacts 3.5 Evaluate methods for making capital expenditure or investment decisions and the criteria that may be applied to these by organisations 3.6 Explain the possible benefits and drawbacks of off-balance sheet financing 4.1 Analyse critically the financial implications of different business ownership structures 4.2 Analyse critically the corporate governance, legal and regulatory environments of different business ownership structures 4.3 Compare and contrast the stakeholder interests of owners and managers in decision-making 4.4 Evaluate the significance of Return on Capital Employed (ROCE) and other overall performance measures for the long -term sustainability of businesses

7 5 Understand how accountability for financial reporting and the integrity of reporting are influenced by ethical, governance and accounting standards 4.5 Examine the importance of Earnings Per Share (EPS) as a measure of business performance 5.1 Differentiate between business ethics, governance and accounting ethics as controls on business accountability 5.2 Assess the role of the accountant as guardian of business ethics 5.3 Analyse the key concepts and principles of corporate governance that may impact on business decisions 5.4 Examine the key national and international financial reporting standards relevant to business decisions 5.5 Examine the key requirements for published accounts of a public limited company (PLC) 6.4 Marketing Strategy This unit examines the strategic role of marketing in business. It discusses how market segmentation, positioning and the marketing mix contribute to competitive advantage. It also explores the common elements and differences between marketing in the commercial and not-for-profit, including public sectors. Candidates who hold or aspire to marketing roles in commercial or not-for-profit organisations will develop knowledge, understanding and skills necessary for such job roles. 1 Understand the concept and strategic role of marketing in business 1.1 Examine the main contexts of marketing 1.2 Analyse the relationship between businesses vision, mission and marketing strategy 1.3 Evaluate the tools and techniques available for analysing key areas of the marketing environment and use them in realistic business situations 1.4 Examine the factors influencing consumer choice and behaviour 1.5 Assess the role of market research in business decision-making 2 Know how to build marketing strategy 3 Understand the concept and role of market segmentation and positioning 4 Understand the principle and 2.1 Analyse critically how strategic market analysis, marketing goals and marketing actions influence marketing strategy 2.2 Demonstrate how an over-all view on the strategic position of businesses and the understanding of their competitors impact on their marketing strategy 2.3 Analyse critically the links between growth strategies and the main types of strategic marketing objectives 2.4 Demonstrate how marketing strategies contribute to sustainable competitive advantage 2.5 Apply the main steps of marketing planning in practical business situations 3.1 Differentiate between market segmentation and product differentiation 3.2 Compare and contrast different targeting approaches 3.3 Examine critically the process and function of positioning 4.1 Assess the role of the marketing mix in the implementation of marketing strategy

8 function of the marketing mix 4.2 Evaluate the role of product development and branding 5 Be able to distinguish between marketing in the commercial and not-for-profit, including public sectors 4.3 Analyse critically the impact costing and pricing decisions have on competitive advantage 4.4 Examine critically the role and purpose of marketing communication as part of the marketing mix 4.5 Explain how retailing and channel management, as part of the marketing mix, contribute to competitive advantage 5.1 Compare and contrast marketing strategies in commercial and notfor-profit organisations, including the public sector 5.2 Demonstrate the use of marketing techniques in the commercial and not-for-profit, including public sectors 5.3 Evaluate the impact of marketing on social and political change 6.5 Managing Stakeholder Engagement To develop the skills, knowledge and attitude to engage with stakeholders. To learn how to manage stakeholders throughout a project or, more generally, for an organisation. The unit is suitable for anyone who needs to deal with stakeholders particularly in relation to public sector organisations GLH 80 Unit Grading Pass Structure 1 Be able to analyse key stakeholders 2 Understand how to build an effective stakeholder engagement strategy to implement policy 1.1 Analyse stakeholders and their needs and expectations for either an organisation or project 1.2 Evaluate and map stakeholder relationships 1.3 Assess the importance of stakeholder engagement 2.1 Analyse methods to engage stakeholders to validate the implementation of policies 2.2 Develop a communications strategy to effectively engage with stakeholders 3 Understand how to build and maintain stakeholder relationships 4 Understand how to engage with the stakeholder groups 3.1 Explain how to build and maintain relationships with stakeholders 3.2 Analyse issues that may affect stakeholder relationships 3.3 Analyse potential conflict situations and possible resolution 3.4 Assess the importance of monitoring and reviewing stakeholder engagement 4.1 Analyse methods to elicit stakeholder views on policy and other issues 4.2 Analyse how to gain stakeholder validation and agreement for policies and plans

9 6.6 Customer focus for Strategic Advantage This unit establishes a framework for the strategic development of customer service in order to gain competitive advantage. It explores the organisational activities and imperatives that come together to create and sustain customer focus. The unit covers processes and concepts that can be used at complete organisation or business unit level. It aims to introduce candidates to the strategic framework which forms the foundation of effective customer focus that and which contributes to competitive advantage in markets where service is especially important to customers. Candidates who aspire to management roles in customer service with or without previous experience in this sector will develop knowledge, understanding and skills necessary for such job roles. 1 Understand the strategic customer service aims of organisations and the customer service values that make the aims achievable 1.1 Analyse critically the links between customer focus and organisational values, vision and objectives 1.2 Analyse customer expectations and preferences in the context of organisations service offer 1.3 Explain the connections between customer service strategy and an organisations market positioning 1.4 Analyse how financial performance and business growth imperatives impact on customer service strategies 2 Understand how being a listening organisation contributes to the achievement of a customer service vision 3 Understand how customer service strategy and objectives contribute to the development of customerdriven processes 4 Understand the links between people development, empowerment and the implementation of customer service strategies 1.5 Compare the importance of customer retention and one-off customer satisfaction when sustaining and developing competitive advantage 2.1 Examine the concept of a listening organisation 2.2 Compare the benefits of different methods of listening to customers 2.3 Evaluate measures that can be used to analyse information collected about customer opinions and experiences 2.4 Demonstrate the importance of customer and employee feedback for achieving organisational customer service vision 3.1 Consider how customer service strategy and objectives lead to the design of customer service processes 3.2 Analyse critically the contribution technology makes to the delivery of effective customer-driven processes 3.3 Explain the importance of continuous improvement and service chains to organisations customer service processes 4.1 Examine critically approaches to people development in the context of customer service strategies 4.2 Assess leadership actions which contribute to empowerment in customer service 4.3 Show the connections between people development, empowerment and customer service strategies 4.4 Consider why empowerment is an important part of continuous improvement in customer service

10 6.7 Corporate Communication Strategies Corporate communication is closely linked to business objectives and strategies. It is the processes an organisation uses to communicate all its messages to key stakeholders. It encodes and promotes a strong corporate culture, a coherent corporate identity, an appropriate and professional relationship with the media, and quick, responsible ways of communicating in a crisis. It is essential if organisations are to inform and influence external stakeholders, including their customers, and harness the efforts of all internal stakeholders towards the successful accomplishment of organisational objectives. This unit gives learners an opportunity to look into the design of a communication system within an organisation such as their own workplace, one to which they are seconded, or through an appropriate case study. It provides the learner with the understanding and skills to support active engagement in the process of developing corporate communication strategies. 1 Understand the importance of corporate communication 2 Be able to conduct an internal corporate communications audit 3 Be able to conduct an external corporate communications audit 4 Be able to plan the development of a corporate communication strategy 1.1 Discuss the purpose of corporate communication strategies 1.2 Assess how corporate communications link to corporate objectives 1.3 Analyse the relationship between corporate communication and corporate branding 2.1 Plan an internal corporate communications audit 2.2 Conduct an internal corporate communications audit 2.3 Critically evaluate the effectiveness of current levels of practice 3.1 Plan an external corporate communications audit 3.2 Conduct an external corporate communications audit 3.3 Critically evaluate the effectiveness of current levels of practice 4.1 Plan the objectives of a corporate communication strategy 4.2 Select the audiences to influence with a corporate communications strategy 4.3 Plan appropriate measures to monitor a planned corporate communications strategy 6.8 Continuous Improvement in Customer Service To introduce the learner to quality management and delivery of excellent customer service. To develop skills in performance and quality measurement and management. (For public service or healthcare management programmes the unit can be delivered in context) 1 Understand how to identify and meet stakeholder needs in service delivery 2 Understand how to manage quality of service delivery 1.1 Identify stakeholder groups and their expectations for service delivery 1.2 Assess the impact of poor service quality for the organisation and stakeholders 1.3 Analyse how stakeholder needs are met 2.1 Analyse the concepts of quality and quality standards in relation to service delivery 2.2 Evaluate approaches to quality management in service delivery

11 3 Understand how to promote continuous improvement of service delivery 2.3 Explain how quality standards are set and monitored 3.1 Analyse the concept of continuous improvement in service delivery 3.2 Evaluate the need for continuous improvement in service delivery 3.3 Explain how continuous improvement can be implemented 6.9 Leadership Skills The primary aim of this unit is to develop essential, practical leadership skills which are useful for candidates in a variety of organisational settings. While completing this unit, candidates practice how to develop the leader-follower relationship in realistic situations and thus support organisational strategy and objectives. Candidates who aspire to lead teams develop capabilities and skills necessary for such job roles. 1 Understand fundamental leadership skills 2 Know how to develop the leader follower relationship 3 Know how to deal with a variety of leadership situations 1.1 Analyse how to learn from past experience of leading individuals and teams in a variety of organisational situations 1.2 Develop active listening skills in order to interpret messages from others in a variety of situations 1.3 Communicate, using the context and medium which meet the needs and expectations of the audience and the organisation 1.4 Demonstrate how to build effective working relationships with peers and superiors 1.5 Analyse critically stress management techniques appropriate to realistic leadership situations 1.6 Demonstrate how to build own credibility with individuals and within teams 2.1 Provide constructive feedback to individuals and groups 2.2 Design processes for receiving feedback from others 2.3 Act upon feedback with a positive and receptive attitude 2.4 Demonstrate how to delegate tasks and responsibilities 2.5 Demonstrate how to build effective work teams 2.6 Demonstrate how to build highly performing executive teams 2.7 Agree and draw up development plans for individuals and teams 2.8 Design strategies for developing informal coaching skills 2.9 Design strategies for empowering others 3.1 Share organisational values, vision and mission with others 3.2 Set goals for individuals and teams in realistic organisational situations 3.3 Demonstrate how to resolve conflicts and solve problems in organisational situations 3.4 Design strategies for improving creativity in organisations 3.5 Design processes for diagnosing problems related to performance 3.6 Design strategies for addressing issues which affect performance

12 6.10 Sustainable Business Strategy This unit provides the learner with an understanding of the effect of legislation and global integration on decisions, policies, processes and activities undertaken by organisations. It aims to raise awareness of sustainable development issues and how they impact on the strategic development of the business. 1 Understand the global sustainability agenda 2 Understand the concept of the sustainable business organisation 3 Understand sustainable strategic planning 4 Understand the wider implications and effects of global integration on organisations 5 Understand the effects of environmental legislation, directives and guidance on organisations 1.1 Analyse the global sustainability agenda and how it translates into national practice 1.2 Analyse the forces for change in the sustainable business environment 1.3 Evaluate the impact of current sustainability issues on business organisations 2.1 Determine the extended boundaries of the sustainable business organisation 2.2 Evaluate impact on business structure and objectives of becoming a sustainable business organisation 3.1 Determine change required within business organisations to meet sustainability agenda 3.2 Analyse the concept of the triple bottom line and how it is implemented in business organisations 3.3 Review the process of sustainable strategic business planning 4.1 Explain the effects of globalisation on national economies 4.2 Discuss the influence of international institutions on organisations 4.3 Explain the role and responsibility of European Union membership on the workplace 5.1 Discuss the economics of adopting a policy of environmental awareness in organisations 5.2 Explain the actions that need to be taken by organisations to maintain the environment 5.3 Describe the measures that exist to improve workplace health and safety practice 6.11 Research Report This unit is designed to enable learners to become confident using research techniques and methods. It addresses the elements that make up formal research including the proposal, a variety of research methodologies, action planning, carrying out the research itself and presenting the findings. To complete the unit satisfactorily, learners must also understand the theory that underpins formal research. The actual research depends on the learner, the context of their area of learning, their focus of interest and the anticipated outcomes. The unit draws together a range of other areas from within the programme to form a holistic piece of work that will make a positive contribution to the learner s area of interest. Learners should seek approval from their tutors before starting their research project. Unit Level 6 Credit Value 25 Assessment Guidance Submission of 5000 word Research Report Learning Outcomes - The learner Assessment Criteria - The learner can: will: 1.1 Formulate and record possible research project outline specifications

13 1 Understand how to formulate a research specification 2 Be able to implement the research project within agreed procedures and to specification 3 Be able to evaluate the research outcomes 4 Be able to present the research outcomes 1.2 Identify the factors that contribute to the process of research project selection 1.3 Undertake a critical review of key references 1.4 Produce a research project specification 1.5 Provide an appropriate plan and procedures for the agreed research specification 2.1 Match resources efficiently to the research question or hypothesis 2.2 Undertake the proposed research investigation in accordance with the agreed specification and procedures 2.3 Record and collate relevant data where appropriate 3.1 Use appropriate research evaluation techniques 3.2 Interpret and analyse the results in terms of the original research specification 3.3 Make recommendations and justify areas for further consideration 4.1 Use an agreed format and appropriate media to present the outcomes of the research to an audience.

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