SECONDARY SCHOOLS BUSINESS STUDIES (ADVANCED LEVEL)

SYLLABUSES FOR SECONDARY SCHOOLS BUSINESS STUDIES (ADVANCED LEVEL) PREPARED BY THE CURRICULUM DEVELOPMENT COUNCIL RECOMMENDED FOR USE IN SCHOOLS BY THE EDUCATION DEPARTMENT HONG KONG 1998

CONTENTS Page PREAMBLE 5 1. INTRODUCTION 7 2. AIMS AND OBJECTIVES 8 3. COURSE DURATION, TIME ALLOCATION AND SYLLABUS OUTLINE 9. GUIDANCE NOTES FOR THE SYLLABUS 10-20 5. TEACHING APPROACHES AND STRATEGIES 21-23 6. INSTRUCTIONAL RESOURCES AND MATERIALS 2 7. ASSESSMENT 25 APPENDIX: SUGGESTED REFERENCE BOOKS 26-28 2

PREAMBLE This syllabus is one of a series prepared for use in secondary schools by the Curriculum Development Council, Hong Kong. The Curriculum Development Council, together with its co-ordinating committees and subject committees, is widely representative of the local educational community, membership including heads of schools and practising teachers from government and non-government schools, lecturers from tertiary institutions, officers of the Hong Kong Examinations Authority, as well as those of the Curriculum Development Institute, the Advisory Inspectorate and other divisions of the Education Department. The membership of the Council also includes parents and employers. All syllabuses prepared by the Curriculum Development Council for the sixth form will lead to appropriate papers of the Hong Kong Advanced Level Examination. This syllabus is recommended for use in Secondary 6 and 7 by the Education Department. Once the syllabus has been implemented, progress will be monitored by the Advisory Inspectorate and the Curriculum Development Institute of the Education Department. This will enable the Business Studies Subject Committee (Sixth Form) of the Curriculum Development Council to review the syllabus from time to time in the light of classroom experiences. All comments and suggestions on the syllabus may be sent to: Principal Curriculum Planning Officer (Sixth Form), Curriculum Development Institute, Education Department, Wu Chung House, 13/F, 213, Queen s Road East, Wan Chai, Hong Kong. 3

1. INTRODUCTION Since business and commercial activities have become an important aspect of life, educationalists have realized that preparation for life and working in the business world is also an important educational objective. The introduction of Business Studies in the sixth form curriculum allows students an opportunity to follow a course which would subsequently make them more prepared for the modern world. Students can continue their sixth form education and at the same time receive something of a general preparation for life as well as a specific training for business. Business Studies is a living subject which is in touch with the real world. We all live in the modern business world and are inevitably engaged and involved in a diverse range of business activities, playing different roles related to business. Few of us pause to consider what lies behind all these common features of our life. Thus, a study of business will provide students with an understanding of our business sector; an understanding that will help them adjust themselves to their ever-changing environment, provide them with the ability to use and apply their specialized skills in their daily life, and enable them to live as discriminating citizens in the modern and complex business world.

2. AIMS AND OBJECTIVES Business education has two main objectives - to educate for business and about business. It is generally believed that business education, in the first place, should prepare students for entry-level employment in the business world - education for business. However, in this syllabus, emphasis is placed on the objective of education about business. It is concerned with the area of knowledge and competencies needed by everyone; the knowledge, skills, abilities, understandings, and attitudes that enable students to become worthy human beings and effective members of the business community. The general aim of the course in Business Studies is to present a balanced picture of the world of business. The course provides a critical survey not only of the theoretical and practical aspects of the managerial functions within firms but also of the integration and synthesis of these functions within the complex environmental settings that they operate, with a special emphasis on local needs and interests. It should also seek to develop in students a capacity for dealing with the diverse business problems, a capacity which will enable them to make sensible decisions in their subsequent life. Throughout the course, students are trained to think effectively about business as a whole and to appreciate the interdependence of the various branches of business activities. The course in Business Studies in the sixth form curriculum should fulfill the following basic aims: 1. To provide students with an understanding of the nature of business activities and the environments within which they function, with particular reference to Hong Kong situations. 2. To provide students with a knowledge of the theoretical and practical aspects of the operation of the various types of business organizations. 3. To develop in students and understanding of the role of business activities in the modern world.. To develop in students an awareness of the changing and integrated nature of business problems and an ability to explore and deal with these problems. 5. To develop in students the skills of analysis, synthesis and evaluation in the context of business decisions. 6. To develop in students the competencies and attitudes in playing the various roles in the business world. 5

3. COURSE DURATION, TIME ALLOCATION AND SYLLABUS OUTLINE This syllabus is designed for students of sixth form and with at least eight periods per week or cycle and a two years duration. The following shows the number of periods allocated to each major topic of the syllabus for teachers reference. Of course, the time allocation for these topics may vary according to students abilities and teachers approaches and strategies. Syllabus Outline Suggested No. of Periods SECTION I: 1. Introduction 35 SECTION II: 2. Business Objectives and Forms of Ownership 35 SECTION III: Management and Operating Functions within Firms to Achieve Objectives 3. Management 50. Human Resources Management (Personnel Management) 50 5. Financial Management 50 6. Production Management 35 7. Marketing Management 50 8. Risk Management 35 9. Business Information 20 TOTAL: 360 === 6

. GUIDANCE NOTES FOR THE SYLLABUS The syllabus contents are listed out below with specific learning objectives for each topic. Learning activities and period allocation are also suggested for teachers reference. The order that the following topics are arranged should not be taken as to suggest that teachers have to follow this sequence. They should arrange the topics in accordance with their own approaches. Topics/Contents Specific Objectives: Students are expected to be able to Suggested No. of Periods Suggested Activities Section I: 1. Introduction 1.1 Meaning and importance of business 1.2 Business in the economy of Hong Kong 1.2.1 Characteristics of Hong Kong s economy and industrial structure define business and describe its related activities recognize the importance of business activities analyze the special characteristics of Hong Kong s economy and industrial structure, e.g. lack of primary industries, concentration on secondary and tertiary production 6 Group discussion on topics such as Why do we need business? Collect press cuttings concerning Hong Kong s economy and industrial structure 1.2.2 Role of business in Hong Kong s economy appreciate the role of business in the economy of Hong Kong, e.g. production of goods and services which helps provide employment opportunities and improve living standards 5 Group discussion on the contributions brought about by the business activities in Hong Kong 1.2.3 Factors affecting the operations of a business in Hong Kong, e.g. economic, political, legal, government, etc. analyze and classify the factors affecting the operations of a business in Hong Kong identify the risks of operating a business in Hong Kong 10 Case study on the environmental factors affecting the operations of a business in Hong Kong recognize the dependence of Hong Kong s business activities on international trade and the susceptibility of Hong Kong business to world economic and political conditions Collect Hong Kong s external trade statistics and analyze their implications Project Work: Analyze the business relation between Hong Kong and Mainland China or other regions explain the effects of local and international legislation on Hong Kong business, e.g. employee protection, consumer protection, etc. Case study on how a business reacts to the recent legislation affecting business operations describe how the government authorities concerned assist and control business operations, trade and industry Visit one of the government authorities concerned 7

Topics/Contents 1.3 Business ethics and social responsibilities Specific Objectives: Students are expected to be able to be aware of the importance of business ethics and social responsibilities and their impacts on business operations explain how a business is responsible to the various parties involved in business such as employees, shareholders, creditors, consumers, government, community, etc. Suggested No. of Periods Suggested Activities 10 Debate on topics such as Business firms should be allowed the freedom to adopt every legitimate means to achieve their objectives analyze the response of a business to environmental issues such as pollution problems Collect press cuttings concerning business responses to environmental issues 8

Topics/Contents Section II: Specific Objectives: Students are expected to be able to Suggested No. of Periods Suggested Activities 2. Business Objectives and Forms of Ownership 2.1 Objectives of running a business appreciate the importance of setting objectives for a business identify and analyze the features of various objectives pursued by different types of business analyze the factors affecting the setting of business objectives formulate a set of objectives for a business 8 Identify the objectives of some well known business firms in Hong Kong Case Study: Analyze the problems arising from the inadequacy of objectives and formulate another set of objectives for a business 2.2 Forms of business ownership 2.2.1 Forms commonly adopted: sole trader, partnership and limited company distinguish between the characteristics of these forms of ownership describe the procedures for their formation appreciate the advantages and disadvantages of adopting each of these forms 8 Make a survey of the number of different types of business ownership in Hong Kong Role-playing: The formation of a sole trader/partnership/ limited company 2.2.2 Others forms: cooperative, joint-venture, franchise and public enterprise distinguish between the features of these forms of ownership appreciate the advantages and disadvantages of adopting each of these forms 6 Group Project: Investigate the operations of a business adopting one of these forms of ownership Case Study: Choose a form of ownership for a particular type of business 2.3 Size of firms: from small businesses to multi-national firms compare the size of different firms in accordance with various criteria such as capital, sales, number of employees, etc. define small business and multi-national firm and describe their features analyze the role of small businesses in the economy, problems of running such businesses and the reasons for their survival 7 Visit a small business and a multi-national firm to investigate their features Find out and compare the number of small businesses in Hong Kong and in some other regions and explain the findings 2. Problems of setting up a business list and explain the internal and external factors affecting the setting up of a business 6 Group discussion on the problems of setting up a business Section III: MANAGEMENT 9

Topics/Contents AND OPERATING FUNCTIONS WITHIN FIRMS TO ACHIEVE OBJECTIVES Specific Objectives: Students are expected to be able to Suggested No. of Periods Suggested Activities 3. Management 3.1 Meaning and importance of management define management and recognize its importance in business organizations 2 Group discussion on the need for management in running a student union and a school tuck shop 3.2 Functions of management: planning, organizing, staffing, co-ordinating, leading, controlling and decision making demonstrate a basic understanding of the importance and features of the functions of management recognize the basic steps in performing each of these functions 12 Case Study: Identify the inadequacy of managerial functions in a business firm Role-playing: The process of performing each function of management 3.3 Means of effective management: e.g. division of work, subordinating individual goals, encouraging individual effort, balancing responsibility with authority, developing team spirit, and management by objectives demonstrate an understanding of the means of effective management apply these means to solve the managerial problems of a business organization 12 Group Project: Investigate how the managerial functions are performed in a business firm Case Study: Identify the managerial problems of a business firm and suggest remedial measures 3. Organizational structure and control define chain of command and span of control and recognize their importance in management demonstrate an understanding of line, staff, line and staff appreciate the importance of departmentalization and distinguish among the features of departmentalization by function, by product, by geographical location, and by customer group explain the importance of delegation of authority and how it can be related to centralization and decentralization analyze the factors affecting centralization and decentralization 12 Identify the chain of command and span of control of a business Case Study: Assess the pros and cons of adopting particular organizational structure by a business Group discussion on the advantages and disadvantages of centralization/ decentralization interpret the organization chart of a Group Project: Study the organization of a business, 10

Topics/Contents Specific Objectives: Students are expected to be able to business and describe its organizational structure Suggested No. of Periods Suggested Activities organization of a business, draw up an organization chart for it, and explain the chart to the class 3.5 Communication in business 3.5.1 The need for effective communication appreciate the need for effective communication in business explain the importance of vertical and horizontal communication within firms describe the process of communication Simulation game on the communication process and the problems arising from ineffective communication 3.5.2 Means of communication 3.5.3 Communication barriers. Human Resources Management (Personnel Management).1 The importance of manpower.2 Functions of Human Resources Management.2.1 Job analysis.2.2 Manpower planning.2.3 Recruitment, selection, placement and orientation list the various means of communication and justify their uses in business identify and describe the barriers to effective communication propose remedial measures to overcome the barriers to business communication recognize the significance of manpower in achieving company objectives appreciate the importance of job analysis in personnel functions distinguish between job description and job specification explain how the job description and job specification are compiled recognize the need for manpower planning describe the process of manpower planning demonstrate a basic understanding of the meaning and methods of recruitment, selection, placement and orientation 2 Select the means of communication for some messages under given situations Case Study: Identify the problems of communication in a business and suggest solutions Compile the job description and job specification for a particular job Draft a simple manpower plan for a business Role-playing on the process of recruitment, selection, placement and orientation.2. Training and development identify the types of training and development programmes commonly used in business explain the benefits of training and development programmes to a business and its employees Visit the training unit/centre of a business and/or the Vocational Training Council.2.5 Evaluation: performance appraisal, explain the purposes and process of performance appraisal 11 Role-playing on the process of performance appraisal

Topics/Contents appraisal, transfer, promotion and discharge Specific Objectives: Students are expected to be able to recognize the reasons for and means of employee transfer, promotion and discharge identify the problems encountered in conducting performance appraisal Suggested No. of Periods Suggested Activities Design a performance appraisal form for a post.2.6 Compensation: job evaluation, remuneration and fringe benefits appreciate the importance of job evaluation and describe how it can be carried out demonstrate a basic understanding of the different types of remuneration and fringe benefits and explain how they can motivate employee Conduct a job evaluation for a post Collect the pay scale of some well known businesses and the Government of the Hong Kong Special Administrative Region and make a comparison Make a survey of the types of fringe benefits offered by the business firms in Hong Kong.2.7 Maintenance: employee health and safety, morale, absenteeism and turnover appraise the importance of employee health and safety define moral, absenteeism and turnover and explain how they affect productivity Group discussion on the consequences of inadequate safety precautions at work.3 Motivation, morale and productivity demonstrate a basic understand of the following theories and explain how they can be used in analyzing problems of motivation, morale and productivity: Maslow s Hierarchy of Needs Theory Herzberg s Dual-factor Theory McGregor s Theory X and Theory Y 12 Case Study: Analyze the problems of motivation, morale and productivity in a business firm and suggest remedial measures Identify the types of needs that are predominant in various groups of employees. Industrial relations..1 Framework of industrial relations system distinguish between financial and non-financial rewards which affect motivation, morale and productivity suggest measures for improving motivation, morale and productivity of a business demonstrate an understanding of the framework of the industrial relations system in Hong Kong recognize the role of employers, employees, and the government in industrial relations analyze the factors affecting the system Debate on topics such as Financial rewards are more effective than non-financial incentives 2 Visit the Labour Department to collect information on industrial relations..2 Agencies involved in industrial recognize the reasons for the existence of employers associations and trade 12 2 Group Project: the trade union movement in Hong Kong

Topics/Contents industrial relations..3 Collective bargaining.. Conciliation and arbitration Specific Objectives: Students are expected to be able to unions appreciate the trends in union movement in Hong Kong identify the need for collective bargaining in industrial relations outline the process of collective bargaining define conciliation and arbitration and explain why they are required in industrial disputes describe how conciliation and arbitration are conducted Suggested No. of Periods 2 2 Suggested Activities Role-playing: The process of collective bargaining Visit the Labour Tribunal to investigate the procedures of conciliation and arbitration 5 Financial Management 5.1 Functions of financial management 5.2 Sources of capital appreciate the role of financial management in the running of a business identify the main sources of short-term and long-term capital for a business differentiate between internal and external sources of finance explain the factors which influence the choice of finance for a particular situation 2 6 Collect press cuttings concerning fund raising activities of a business firm Case Study: Identify the problems arising from lack of finance in business and suggest possible sources for raising capital 5.3 Financial markets distinguish between: primary and secondary markets capital and money markets 3 Collect press cuttings on the activities in the financial markets in Hong Kong 5. Financial statements and key financial ratios demonstrate a basic understanding of the nature and uses of balance sheet and income statement recognize the nature and significance of key financial ratios: liquidity, profitability, activity, leverage and equity ratios 8 Collect balance sheets and income statements of a business and interpret the information given 5.5 Current assets management 5.5.1 Cash flow 5.5.2 Stock control 5.5.3 Debtors management appreciate the importance of cash flow management demonstrate an understanding of the role of stock control in financial management describe the features of a stock control system recognize the need for debtors management in business identify the factors affecting debtors management 3 3 3 Case Study: Identify the cash flow problems for a business Group discussion on the financial consequences of poor stock control Comment the debtors management policy of a business evaluate the debtors management policy of a business 13

Specific Objectives: Topics/Contents Students are expected to be able to 5.6 Capital budgeting understand the concept of discounted cash flow demonstrate an understanding of the basic methods used in evaluating investment projects and describe their advantages and disadvantages: NPV, IRR, ARR and payback methods Suggested No. of Periods Suggested Activities 10 Evaluate given investment projects by these methods 5.7 The use of budgets demonstrate a basic knowledge of the nature and types of budgets 6 Interpret the budgets of a business be aware of the significance of budgets in planning and control 5.8 Revenue and cost distinguish between: capital and revenue 6 List the capital and revenue of a business fixed and variable costs demonstrate a basic understanding of the linear breakeven analysis, its limitations and calculations Draw linear break-even charts 6. Production Management 6.1 Production concepts and processes demonstrate an understanding of production concepts distinguish between the various types of production process: 3 Make a survey of the types of production process required by various industries e.g. extractive, analytic, fabricating, synthetic, and assembling 6.2 Product development appreciate the importance of product development explain the steps in product development Role-playing on the roles of the members of a product development team which is required to develop a new product 6.3 Manufacturing Systems 6.3.1 Manufacturing process distinguish between: standard and custom production continuous and intermittent production 2 Visit a factory to identify the type of manfacturing process adopted 6.3.2 Production planning and control be aware of the importance of production planning and control describe the major tasks required for production planning and control Case Study: Identify the problems resulting from lack of production planning and control 6.3.3 Plant location and layout demonstrate a knowledge of the factors affecting the location of manufacturing plant and the design of 1 6 Make a survey of the location of industries in Hong Kong and in other regions

Topics/Contents Specific Objectives: Students are expected to be able to plant layout distinguish between line layout and process layout Suggested No. of Periods Suggested Activities Case Study: Choose the location and design the layout for a factory 6.3. Materials management: purchasing, storage and stock control appreciate the importance of purchasing, storage, and stock control in production identify the factors affecting a stock control system formulate the simple EOQ model and apply it to solve simple stock control problems describe how a purchase of materials is made 10 Simulation exercise on the process of storage, stock control and purchasing Solve stock control problems by applying the simple EOQ model 6. Mass production identify and describe the characteristics of mass production analyze the advantages and disadvantages of mass production explain the favourable factors that make mass production possible 6 Visit a factory adopting mass production to investigate the features of such system 7. Marketing Management 7.1 The marketing concept define the marketing concept 2 Group Discussion: Is marketing a must? 7.2 The role of marketing explain the main roles of marketing, e.g. planning, organizing, implementing and controlling marketing activities 2 Case Study: Identify the problems arising from inadequate marketing effort 7.3 The main marketing tasks 7.3.1 Understanding the market - marketing research - consumer behaviour appreciate the role of marketing research and identify the major marketing research areas describe the process of a marketing research analyze the factors affecting consumer behaviour 8 Simulation: Conduct a simple marketing research Case Study: the effect of consumer behaviour on marketing 7.3.2 Marketing strategy for goods and services - target markets appreciate the importance of identifying target markets analyze and select target markets 2 Simulation: Select the target markets for a given product/service - marketing mix demonstrate an understanding of marketing mix: product/service, channels of distribution, price and non-price competition, promotion 15 Simulation: Formulate a marketing mix strategy for a particular product/service Role-playing: The process of developing an advertis ing

Topics/Contents 7. Consumerism Specific Objectives: Students are expected to be able to apply various marketing mix strategies for different stages of the product life cycle demonstrate an understanding of the rights and responsibilities of consumers, consumers complaints and responses from business appreciate the effect of the trend of consumerism on marketing Suggested No. of Periods Suggested Activities developing an advertis ing campaign for a product/ service by the staff of an advertising agency Survey: Identify the different channels of distribution available for a particular product/service Debate on topics such as Consumers can be misled by marketing effort Visit the Consumer Council and make a survey of complaints handled by it 7.5 International marketing recognize the environmental forces in international markets and their effect on marketing activities analyze the use of adaptation versus standardization of international marketing mixes describe the various methods of developing international marketing involvement 10 Group Discussion: The effect of environmental forces on international marketing strategy Case Study: Analyze the problems of international marketing for a business and develop a marketing mix strategy for it 8. Risk Management 8.1 Business risks state the general features of various types of risks faced by business firms and analyze their impact on business activities 7 Group Project: Identify the risks involved in running a particular type of business and classify them into different categories 8.2 Process of risk management describe the process of a risk management programme: risks identification, evaluation, measurement, treatment, and implementation of the programme 16 Simulation: Develop a risk management programme for a business 8.3 Insurance appreciate the functions of insurance in business explain the basic insurance principles demonstrate an understanding of the various types of insurance protection available to business: life, properly, liability, marine and credit insurance, etc. 12 Group discussion on the consequences of not taking insurance protection for company assets Make a survey of the insurance policies available to business firms in Hong Kong 9. Business Information 9.1 Importance and use of information in business evaluate the significance and usefulness of business information - demonstrate a basic understanding of the importance and features of information systems such as decision supporting system, management information system, office automation system and transaction processing system 16 2 Group Discussion: What will happen if a business does not possess up-to-date information?

Topics/Contents Specific Objectives: Students are expected to be able to Suggested No. of Periods Suggested Activities 9.2 Statistical data in business calculate and use the following data: arithmetic mean, mode, and median interpret tables, graphs, histograms, bar charts, and pie charts demonstrate a basic understanding of trend interpretation through the use of statistical software packages e.g. SPSS 9 Group Project: Make a survey of the traits of schoolmates (e.g. weight, height, age, etc.) and present the findings Collect tables, graphs, charts, etc. published by business firms and the government and interpret the data obtained 9.3 The role of information technology in business demonstrate a basic understanding of the components and operations of a computer describe the applications of information technology in the business world analyze the advantages and disadvantages of using information technology in the business sector 9 Visit a firm utilising informaion technology in its business operations Group Project: Search data through the Internet, Intranet,CD ROM and process them into business information for decision making through the use of information technology Communicate through information technology e.g. E-mail, video conference 17

5. TEACHING APPROACHES AND STRATEGIES Essentially, this syllabus covers the various aspects of the theoretical and practical phases of business. Two distinct and equally important processes are therefore involved in teaching, that of acquiring knowledge and skills and that of applying the knowledge and skills to the practices of business. The practical application of business knowledge and skills will contribute to a clear understanding of what have been learnt and hence fortifies the first process. It is believed that an effective instructional strategy for the course might begin with student-centred teaching and that the conduct of various students activities will make learning interesting and meaningful. Opportunities for personal involvement and practical application of knowledge and skills can also be provided by these learning activities. Therefore, apart from presenting the subject contents by teachers with the traditional didactic approach, it is recommended that students should be more actively involved in the process of learning. It is also emphasized that the teaching of Business Studies should be related to real life situations as far as possible. Whenever feasible, teachers should try to relate the issues at hand to Hong Kong situations, so that not only the students interests are aroused but also they could be made aware of the mechanism which sets the motion of Hong Kong s business activities. The following are some of the ways in which students could be assisted in the learning of the subject: 1. Lecturing A lecture involves a continuous formal exposition of or discourse on some topics by the teacher. Though it is criticized on its autocratic style and the form of one-way communication, it is typically used to introduce subject knowledge and specialized information. Its effectiveness depends very much on its planning, structuring, brevity, the teacher s style of presentation and the use of teaching aids. 2. Group Discussions Students are divided into groups to discuss a given topic in order to exchange views, develop a concept or to solve a problem. The teacher is responsible for supplying guidelines for the discussion, eliciting responses among students, stimulating them to interact with each other, and evaluating their performance. Each group should be required to present an oral or written report summing up the conclusions and findings of the discussion. 3. Debates Students are to be divided into two sides each presenting its arguments for and against a topic or an issue of the business field. Business education provides many opportunities for the expression of different philosophies of life. These differences should be allowed to be aired freely and thoroughly so that students may develop respect for the opinions of others, learn to think creatively and critically and develop and ability to communicate with others convincingly. 18

. Case Studies A case is a description of an actual problem situation, or a situation which attempts to simulate as far as possible the business environment, in which decisions have to be made. Students are required to examine and analyze the situation in order to identify the problems and recommend feasible solutions. This method attempts to show how business knowledge and principles which have been learnt can be applied to solve problems in the business world. 5. Simulation Games A simulation is a representation of reality, modelling the critical features of the real world. Simulations with the characteristics of a game, i.e. involving participants to compete or co-operate for pay-offs according to prescribed rules, can be used to motivate learning through the enjoyment of participation. Both simulations and games provide opportunities for students to practice the skills and to apply the principles that they have learnt in an environment free from risk. It is desirable that teachers should run the event before deciding to use it and plan carefully so as to use the method effectively. 6. Role-playing In role-playing, students are required to put themselves in the position of participants in real life situations of the business world such as job interview, buying and selling goods, business meeting, etc. They have to act and react spontaneously as they interact with other participants during the role-playing sessions. Through acting and reaching, students are likely to visualize the depth of the problems facing their own roles as well as those of the others in the whole performance. 7. Projects and Surveys Business principles and concepts taught in the classroom are often meaningless unless students have the opportunity to investigate the utilization of such in the business world. A project is a planned learning activity that requires students to go outside their classrooms and interact with the business community. Students can work in groups or individually to observe and collect information for a given issue, to analyze and evaluate the information obtained, and to draw conclusions. A report on what have been found should also be presented. 8. Field Trips and Visits There are many business establishments which might provide appropriate field trips for students of Business Studies. Field trips to business and commercial institutions help developing better understanding and give far better visual information of many things than can be taught in class. A carefully devised and thoughtfully executed plan is necessary for making the visit educational and successful. The plan might include how to arrange with the organization to be visited, how to brief students for the visit, how to organize them into groups, and how to conduct follow-up activities. 9. Press Cuttings 19

Newspapers, magazines and other publications provide up-to-date information of the business world which are useful supplementary materials for the textbooks. Students should be encouraged to read news and articles on business issues and form a habit to collect these news and articles in files or scrap books. An analysis and comment on the issue recorded should also be made by the students themselves. 10. Information Technology Students are encouraged to acquire information technology skills and knowledge through the use of computer hardware and software. They should be trained to apply the acquired skills and knowledge to search and process raw data into information for business decision making relevant to their daily lives. The approaches discussed above are by no means exhaustive. The diverse strategies available for business lessons are not limited to these. Teachers are encouraged to devise and adopt different activities and resources in the teaching of Business Studies in order to attain the course objectives effectively. They are advised to adopt a combination of teaching methods. The choice of an optimum combination of strategies will, of course, depend very much on the specific aims of the lesson, abilities of the students, resources available and many other factors. It is the teachers responsibility to design an appropriate mix of teaching approaches to suit their students. 20

6. INSTRUCTIONAL RESOURCES AND MATERIALS Teaching is most effective when varied. The use of a variety of instructional materials will definitely liven up a lesson. Teachers are therefore encouraged to use a mix of resource materials in the teaching of Business Studies. A large variety of instructional resources and materials is available for teachers of Business Studies. These materials can be classified into three types: printed materials, audio-visual aids and interactive aids. Some examples of these instructional materials are given below: Printed Materials Audio-visual Aids Interactive Aids Textbooks Reference Books Workbooks Teaching Notes Magazines/Journals Newspapers Films Filmstrips/slides Charts/Diagrams Transparencies Audio Tapes Video Tapes Bulletin Boards Case Studies Game Sets Simulations Role-playing Surveys/Projects Field Trips Computer Softwares In the world of business changes are frequent and it is therefore essential that information provided by the learning materials should be up-to-date. Apart from the textbooks followed by students, other references and resource materials provide update information regarding the ever-changing business world. However, the illustration of the diversity and complexity of business activities can not rely only on printed materials. The use of audio-visual aids can make the learning of the theoretical and practical phases of business more meaningful. Visual presentation can also help explaining abstract concepts and ideas which are difficult to learn from printed words. Besides printed and audio visual materials, the use of interactive aids will also allow students opportunities to experience the mechanism of business and to relate their business knowledge and skills to real life situations. It is no doubt that the adoption of instructional resources and materials, if used appropriately and effectively, will motivate learning and contribute to an effective achievement of the course objectives. The extent and the availability of instructional materials for the teaching of Business Studies are limitless. Poor materials can hamper the effectiveness of teaching and learning. The selection of effective instruction materials depends on criteria such as appropriateness to the specific learning objectives and to the students, accuracy, cost, availability, and timeliness. It should also be noted that the use of each instructional material must be accompanied by careful planning and constant review and evaluation. While many instructional materials can be purchased and/or loaned from the large variety of items developed for teachers use, teachers can also devise and produce their own packages of resources and materials for their special settings. Remarks: The Education Department has acquired various items of audio-visual materials for commercial subjects. These materials are available from the Audio-visual Resources Library, Education Department and can be loaned on a weekly basis. References may be drawn from the Audio-visual Resources Catalogue and Audio-visual Material Supplement published by the Education Department for detailed descriptions of the different titles. 21

7. ASSESSMENT Assessment of students performance is indispensable, it is an integral part of the teaching-learning process. Teachers have to measure the progress of their students towards the course aims, both individually and collectively, and to adjust the resources, approaches and strategies adopted in the teaching of Business Studies so as to accomplish the goals effectively. Remedial measures can also be taken for those students who fail to reach the required standards. Assessment activities can be taken place continuously throughout the course on tasks completed in the form of homework assignments, project work, case study reports, press collections, quizzes and tests, etc. In addition to the assessment of the products produced, students achievement can also be arrived at by teachers judgment on the effectiveness of performance in the learning process. Hence, students participation in learning activities and changes in attitudes and behaviours should also be observed. At the end of the course, terminal assessment is required to measure the overall achievement of students towards the course objectives. Assessment on students performance in Business Studies can take different modes such as: objective tests, structured questions, comprehension exercises, extended writing in the form of essays and reports, case studies, field work, project work, and observations in the form of profiles. Each of these methods had its advantages and disadvantages for specific circumstances. It is desirable that the assessment of students performance is done by a combination of these modes so as to provide a comprehensive understanding of the progress towards the curriculum goals. As the theoretical and practical aspects of business incorporated into the course are drawn from many disciplines and represents a wide range of understandings, skills, and abilities, assessments should aim at the depth as well as the scope of understanding in order to maintain validity. It is highly undesirable that students are excelled in question-spotting and rote learning techniques rather than the intellectual and practical skills required by the business sector. The effectiveness of assessments depends very much on the specific instructional objectives and the overall course aims. With the course objectives as a base line, teachers should carefully conduct the formal and informal assessment activities for the course. The information acquired should also be carefully analyzed to allow for valid and useful measurements of students progress. 22

APPENDIX SUGGESTED REFERENCE BOOKS The books listed below are suggested for teachers reference. They are by no means exhaustive. Teachers should also select other appropriate reference materials for their use. Title Author/Editor Publisher Year Business Business: Contemporary Concepts & Practices Giffin, R. W. & Ebert, R. J. Jackson, J. H. & Musselman, V. A. Prentice-Hall 1991 Prentice-Hall 1987 The Business Environment in Hong Kong Lethbridge, D. G. O.U.P. 198 Business in Action: An Introduction to Business Business in Today s World Bittel, B., Ronald, S. B. & Bilbrey, C. P. Lowry, J. R., Weinrich, B. W. & Steade, R. D. McGraw Hill 1989 South-Western 1990 The Business of Business: An Introduction Adam, T. J. Harper & Row 1989 Business Today Contemporary Business Getting into Business: An Introduction to Business Rachman, M. D., Mescon, M. H., Bovee, C. L., & Thill, J. V. Boone, L. E. & Likurtz, D. Walthall, W. A. & Wirth, M. J. McGraw Hill 1990 Dryden 1992 Harper & Row 1987 Human Resources & Personnel Management An Integrated Approach to Business Studies Werther. W. B. McGraw Hill 1992 Jewell, B. R. Pitman Publishing 1990 Introduction to Business Cunningham, W. H., Aldag, R. J. & Swift, C. M. South-Western 1989 23

Title Author/Editor Publisher Year Introduction to Business: A Contempory View Reinecke, J. A., Dessler, G. & Schoell, W.F. Allyn & Bacon 1989 Management Stoner, J. A. F. & Freeman, R. E. Prentice-Hall 1992 Management: Concepts & Practices Mondy, R. W. Sharplin, A. & Flippo, E. B. Allyn & Bacon 1991 Marketing: An Introduction Kotler, P. & Armstrong, G. Prentice-Hall 1990 Principles of Managerial Finance Gitman, L. J. Harper & Row 1991 1990 1990 1987 1991 1992 1991 1986 1989 1991 1990 1989 1991 1991 2

Title Author/Editor Publisher Year 1990 1986 1991 198 * Teachers are expected to resort to the latest editions for up-to-date materials. The following annual publications might also be useful for the teaching of Business Studies: (a) Hong Kong Annual Report published by the Government of the Hong Kong Special Administrative Region, (b) The Other Hong Kong Report published by the Chinese University Press. [wing:\d-bus-stud.doc] 25