Business Tools: The Market Environment

This subject is not offered in 2016.

170 hours

Students must have completed the following subject before enrolling in Business Tools: The Market Environment.

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For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements for this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

This subject will give an overview of the tools that businesses use to manage their external environment. The subject addresses three main areas: negotiation skills, marketing and competitivestrategy. Students will use case studies and simulations to practice negotiation skills. Topics in marketing will include an overview of brands, creating a marketing plan and understanding customers. Finally the competitive strategy component of the subject will focus on the topics of gains from trade, how to price and how to understand and change the competitive environment.

The aim of this subject is to give students an understanding of the external environment in which businesses operate. Topics are chosen to build skills and understanding in negotiating with others, understanding consumers and responding with appropriate marketing materials and being able to analyse the competitive nature of the market in which the business operates.

• Syndicate group assessments totalling 3,000 words or equivalent (60%), commencing in class 1 (submitted materials may include interim proposals, presentation, report); and
• a 3-hour end of subject examination (40%).

Hurdle requirement: Students must pass the final examination to pass the subject.

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This subject is not available as a breadth subject.

Generic skills gained from this subject include:

• leading and participating in teams (including members from diverse cultural backgrounds), managing, persuading and influencing others;
• demonstrating the breadth of knowledge gained in an inter-disciplinary approach;
• applying advanced analysis, business communication and leadership skills in business and professional practice;
• developing the ability to exercise critical judgement, be capable of rigorous and independent thinking, be able to account for their decisions and adopt a problem solving approach;
• high level written report presentation skills;
• oral communication and presentation skills; and
• time management and self-management skills.