In this introductory unit on Economics, students will delve into the intricacies of economic theory and its practical implications. The curriculum is meticulously designed to bridge the gap between abstract economic concepts and their real-world applications, providing students with the analytical skills necessary to interpret and forecast economic trends.

Students will start by learning about the foundational economic systems that govern societies, delving into how resources are allocated in different environments and the implications of these systems on global and local scales. The unit will explore the contrasting mechanisms of command economies versus market economies, and how mixed economic systems attempt to combine the best of both worlds.

Building on this foundation, the unit will then dissect the core principles of microeconomics and macroeconomics. In microeconomics, students will scrutinize the behaviour of individual consumers and firms, the determinants of prices in different market conditions, and the effects of consumer choice and production decisions on market outcomes.

Macroeconomics will provide a broader perspective, examining national and international economic factors. Students will study the complexities of economic growth, the role of government policy in managing the economy, and how indicators such as inflation, unemployment, and GDP are critical to understanding the health of an economy.

The aim of this unit is to introduce you to the fundamental concepts and principles that underpin the world of finance. You will embark on a comprehensive journey to gain a foundational understanding of the principles and concepts that underpin the field of finance. Throughout this unit, you will be introduced to various key topics, including financial markets, investment analysis, risk management, and capital budgeting. You will explore the fundamental principles of finance, such as understanding the time value of money, valuing stocks and bonds, and calculating and interpreting financial ratios. You will gain insight into the role of financial institutions and regulatory bodies in the financial system. Through a combination of theoretical knowledge and practical applications, you will develop essential skills in financial decision-making, critical analysis, and strategic planning, including, but not limited to:

• Financial aspects of decision-making such as applying capital budgeting techniques in the evaluation of capital investment decisions
• Dealing with uncertainty in decision-making
• Dividend policy
• Business valuations
• Explaining income, asset-based and market evaluation approaches

By the end of this unit, you will be equipped with a solid foundation in finance, enabling you to navigate and contribute effectively to the dynamic world of finance and investment.

Effective interpersonal communication skills are basic tools for those employed in professional fields. This unit is designed to provide students with the skills and knowledge of communication in professional contexts. The unit emphasises organisational communication theory, its application to effective written communication, informative and persuasive communication, the role of verbal and non-verbal communication, intercultural management, and interpersonal skills in business teams and a variety of cultures. Additionally, the impact of Generative Artificial Intelligence (GenAI) will be examined, and its role in modern communication. The underlying theme of the unit is to provide awareness of a range of professional communication skills required to meet 21st century career demands, especially in a multicultural workforce.

Effective interpersonal communication skills are basic tools for those employed in professional fields. This unit is designed to provide students with the skills and knowledge of communication in professional contexts. The unit emphasises organisational communication theory, its application to effective written communication, informative and persuasive communication, the role of verbal and non-verbal communication, intercultural management, and interpersonal skills in business teams and a variety of cultures. Additionally, the impact of Generative Artificial Intelligence (GenAI) will be examined, and its role in modern communication. The underlying theme of the unit is to provide awareness of a range of professional communication skills required to meet 21st century career demands, especially in a multicultural workforce.

This unit (Capstone Part 1), in conjunction with Capstone Part 2, has been designed for you to prepare yourself to apply the skills and knowledge you have acquired throughout your bachelor's course in a practical manner. Serving as a capstone experience, this unit aims to bring all your learning into focus. You will have the opportunity to work in groups on relevant simulated projects to prepare you for the second part of your capstone, a real project.

This unit will focus on developing a project proposal, project initiation, planning, execution, monitoring and control, and closure, with an emphasis on project leadership, teamwork, and stakeholder communication. You will be encouraged to utilise innovative technologies, create technical documentation, collaborate effectively within teams, manage your time efficiently, and communicate your work effectively to prepare yourself for the real project in BUS3002a/b. This capstone unit will proceed through a series of stages or steps, taking you through the project process from understanding the initial situation, to creating and testing alternative solutions, to developing an implementation strategy for your ideas. Along the process, you will be guided and assisted by the unit instructor. Additionally, of critical importance to this process will be the active contributions from your team members and classmates. These will not be issues that you can solve on your own, so relying on others is an important element for success in this unit.

The unit has been designed for you to apply the skills and knowledge you have acquired throughout your bachelor's course in a practical manner. Serving as a capstone experience, this unit aims to bring all your learning into focus. You will have the opportunity to work in groups on relevant simulated (BUS3002a) or real-world industry projects (BUS3002b) for internal or external clients. Your group will be responsible for project management, with guidance from an assigned supervisor. The two capstone units (BUS3001 and BUS3002a/b) will enable you to develop crucial skills such as stakeholder communication, project briefing, planning, and implementation, depending on the project scope. In this unit, you'll not only gain the knowledge, skills and practical experience necessary for successful project management but also demonstrate the mindset needed to excel in your future career, no matter where your ambitions take you. Join us in exploring the exciting world of project management!

Business systems analysis and modelling is a critical tool for designing and improving business processes. In today's fast-paced business environment, organisations must be able to identify inefficiencies in their operations and find ways to streamline them. This unit introduces students to the fundamental concepts and techniques of business systems analysis and modelling, providing them with the skills they need to evaluate, design, and improve business processes.

Throughout this unit, students will learn how to identify and analyse business processes and use modelling techniques to represent and improve them. The unit covers a range of topics, including data flow diagrams, entity-relationship diagrams, process modelling, and process improvement techniques such as Lean and Six Sigma. Students will also learn how to use these techniques to automate and integrate business processes, leading to increased efficiency and reduced costs. Additionally, the unit covers topics such as business process re-engineering, business rules modelling and analysis, workflow modelling and analysis, and enterprise architecture frameworks and methodologies.

This unit builds on earlier Human Resource Management units to expand the student knowledge and understanding of the field of Human Capital Management at a strategic level (HCM). The aim of this unit is to introduce students to the theory and practice of strategically managing the human capital initiatives and activities of an organisation as part of the organisational strategic management and strategic human resource management. Students will learn how to develop and utilise human capital metrics, to evaluate the data and communicate strategies and recommendations to influence organisational strategic decision-making processes.

The students will learn practical and analytical tools to proactively and innovatively manage human capital systems and inform decision-making with regards to employee performance, talent acquisition and retention, succession planning and organisational development. The student will also explore issues and perspectives affecting human capital management including social, cultural, legal, economical, psychological and ethical forces that impact on organisational decision-making and achieving competitive advantage.

In this unit, you will develop a range of essential skills and knowledge related to organizations and management accounting. You will learn the key processes and techniques of management accounting, which provide information necessary for managing resources and creating value for customers and shareholders. You will apply techniques to support management decision-making in respect of product costing, variance analysis, inventory management, budgeting and forecasting. The unit emphasises the application of quantitative and qualitative techniques to analyse cost behaviour. You will evaluate the performance of products and business segments by applying the processes and techniques of management accounting that focus on the effective and efficient use of organisational resources. You will apply appropriate cost techniques including:

• Analysis of cost behaviour and the drivers of costs
• Determine and calculate appropriate financial analyses to support decisions to improve business performance
• Distinguish and calculate different types of organisational costs and use established methods to cost specific operating decisions

The unit also covers topics such as cost management, performance management, and pricing at both strategic and operational levels. You will employ environmental and organisational tools such as PESTEL and SWOT, identify financial and non-financial KPI’s, discuss scorecard models, and apply benchmarking to assess business performances. Finally, you will prepare reports to support decision-making on quality control, performance measurements, and comparative analyses.

Organisational leaders have an influential role in the direction and future of any business. How this influence is exercised determines the efficacy and effectiveness of the leadership function. Leadership is influencing people to change. However, this influence may be contaminated by unhealthy use of power, politics and bias as opposed to healthy practices of the same. Positional leadership will always be in a place of power, how this power is used will determine the outcomes in terms of relationships, business performance and sustainability of the organisation. Power and influence in leadership will be observed mostly in organisational structures, decision-making, internal and external politics, inclusiveness, collaboration, and ethical behaviours.

This unit aims to provide students opportunities to learn and develop various perspectives of organisational leadership from the points of view of influence and power as they interact with the different theories, models and frameworks and constructs. This unit introduces students to organisational leadership theories, power models, diversity in leadership literature, ethical leadership, servant and collaborative leadership constructs, decision-making biases and organisational politics. Students will learn to evaluate and assess the effectiveness of different positions on power and influence, various practices and cultural biases in different organisational contexts.

The effectiveness of any enterprise is contingent on the team culture it has cultivated as teamwork can affect the success or failure of the whole of the organisation. Yet in many businesses’ teams are not operating as teams rather, they are siloed in departments and functions that do not communicate to each other appropriately or in a timely manner. This results in a drop in organisational effectiveness and efficiency. In order to increase the productivity and performance of the organisation, leaders need to build effective teams.

This unit will guide students to explore multiple theoretical frameworks and experience practical aspects of building effective teams. They will explore different models of teams; various tools used to evaluate and analyse teams and team effectiveness and discuss contemporary challenges to teams and team structures. Students will interact with practical case studies to learn aspects of building effective teams. They will be expected to communicate, collaborate, resolve conflicts, and contribute to their own and other learning and team development.

With the recent development in industrial relationship practices in Australia it has led to focus on enterprise level bargaining and individual employment arrangements as well as disputes resolution at the workplace level. This unit introduces the students to the foundational concepts of employment relations, and specifically within the context of the Australian employment relations system.

The students will be exposed to topics such as employee relations (ER)/industrial relations (IR) laws and practices and will learn specific skills to be used in workplace employment relations - especially topical issues such as management of discipline, termination of employment and individual and collective bargaining. Students will explore areas of conflict resolution, negotiations, advocacy, trust building and co-operation within a workplace, the role of government, trade unions and management, and the relationships between employer and employees.

This unit introduces the student to historical and contemporary organizational theories and concepts that influence developing and designing businesses and organisations in the 21st century. The unit introduces the student to fundamentals of management theory as it influences organisational structures and forms, in the context of globalisation, virtual communication, and market demands. Themes that will be explored include structural dimensions of organisations, stakeholder influence on the structure, responding and reflecting local and global agendas, size and function in relation to organizational design, and the influence of knowledge and innovation of organizational design.

Additionally, change is an integral part of organisational life in order for business to meet the constant flux in the marketplace, customer demands and stakeholder requirements. Change has many triggers and organisational players need to be aware of how these triggers are observed, measured, monitored, analysed, evaluated and responded to in a way to engage all the stakeholders of the organisation. People usually resist change mainly because they may not be able or willing to deal with the emotions change brings, whilst others welcome the change because it gives them the ability to meet new challenges. In the same way change in organisations depend on the culture of the organisation, the need for the change and the readiness of the organisational systems and people to respond well to this requirement to change. Change needs to be sustainable to reap the positive outcomes.

Students will explore in this unit the applications of the theory and the implications of organizational design on governance, culture, ethics and values, management practices, teamwork, organizational agility, learning and innovation, decision-making and organizational performance. This unit also provides students opportunities to learn and develop various perspectives of organisational change as they interact with the different models and theories of change. This unit introduces students to organisational change theories, models, methods, diagnostic tools and frameworks, and they will be asked to explore ethical, political and cultural aspects of change and decision-making. Students will learn to evaluate and assess the effectiveness of change situations and initiatives in different contexts. The students will explore some of the interventions used to implement change and evaluate their effectiveness.

Organisations are made up of people and systems. Not only do we need to build the systems and processes to achieve efficiencies and productivity, but we need to develop the people to achieve great effectiveness. The Human Resource Development (HRD) or as it used to be known as training and development emphasises the value of developing skills and competence in staff as well as the systems and processes to enable and empower the staff of achieving the required performance and objectives in their professional and business life. In this unit, students will investigate the theory and practice of human resource development, they will also learn how to assess the effectiveness and outcomes of staff learning experiences in different business settings.

Students undertaking this unit will explore different models and frameworks of HRD to create workable strategies to suit various organisational settings. They will learn about contemporary adult learning theories and their applications in modern day business. Topics to be covered will include training needs analysis, training designs, assessment and evaluation, managers as coaches, management development, creating development programs, succession planning, career development, organisational change, performance management, and return on expectation and return on investment.

International businesses frequently face ethical and corporate social responsibility (CSR) challenges. This unit provides frameworks for making ethical decisions in an international context. You will learn about major theories of ethics, CSR, and sustainability as they relate to global business decision-making. This includes the 17 UNSDGs and any subsequent systems that the global community adopts for sustainability. Topics covered will include ethical decision-making models, international labour standards, human rights, environmental and social impact assessments, and anti-corruption practices.

Business decision-making tools yield more coherent and justifiable results when used with an understanding of the ethical, social and environmental aspects of the process. This applies to various situations in the international business setting including business relations with government, customers, employees, and NGOs. This unit is designed to look at these non-financial elements in the decisions made within the international business context. Following the completion of this unit, students will have enhanced skills and knowledge relevant to the understanding of ethical issues and ethical decisions making in global business organizations.

Organisational leaders have an influential role in the direction and future of any business. How this influence is exercised determines the efficacy and effectiveness of the leadership function. Leadership is influencing people to change. However, this influence may be contaminated by unhealthy use of power, politics and bias as opposed to healthy practices of the same. Positional leadership will always be in a place of power, how this power is used will determine the outcomes in terms of relationships, business performance and sustainability of the organisation. Power and influence in leadership will be observed mostly in organisational structures, decision-making, internal and external politics, inclusiveness, collaboration, and ethical behaviours.

This unit aims to provide students opportunities to learn and develop various perspectives of organisational leadership from the points of view of influence and power as they interact with the different theories, models and frameworks and constructs. This unit introduces students to organisational leadership theories, power models, diversity in leadership literature, ethical leadership, servant and collaborative leadership constructs, decision-making biases and organisational politics. Students will learn to evaluate and assess the effectiveness of different positions on power and influence, various practices and cultural biases in different organisational contexts.

The unit offers a thorough exploration of the economic frameworks and strategic considerations that shape trade across borders. Grounded in a blend of classical and contemporary trade theories, the unit provides students with the analytical tools necessary to interpret and assess the implications of regional and global trade agreements. Through a detailed study of tariffs, quotas, and non-tariff barriers, participants will gain an understanding of the levers that govern international trade flows and their wider economic consequences. The curriculum also delves into the role and impact of specialized trade arrangements, such as economic zones and bilateral pacts, on the global business landscape. By critically evaluating the economic, social, and environmental factors influencing trade policies and practices, students will develop the ability to engage with international trade as dynamic and complex agents of change. This unit is designed not only to impart knowledge but also to empower learners with the skills to navigate and influence the evolving terrain of global trade. Much of the unit is dedicated to a problem-based/experiential approach to learning, using case studies, simulations, and class activities to deepen and solidify learning.

This unit introduces students to concepts and practices of service-logic in marketing as well as the role of social marketing in shaping society.

The role of the customers within the service system and effective management of customer relationships. Approaches and tools for analysing, improving, and developing complex services for face-to-face and online delivery will be explained and applied, along with concepts of service quality, service recovery and the determinants of customer satisfaction and dissatisfaction. Service industries are a dominant force in modern economies, including in Australia. In Australia 80% of production is undertaken in the services sector and includes employment of the labour force. Services account for 66% of Australia’s GDP while over 45% of an average family's budget are accounted for by services. Services (both commercial and not-for-profit) possess several unique characteristics that require a distinctive approach to marketing strategy - both in its development and execution.

At the same time, never before have social issues been more at the centre of public and private debate. From concerns about sustainability and the future of the planet to the introduction of smoking bans, there is a growing recognition that social marketing has a role to play in achieving a wide range of social goals. This unit examines the nature of social marketing and how the adoption of marketing concepts, frameworks and techniques developed for commercial marketers can be applied to the solution of social and environmental problems. After studying this unit, you should be able to: describe and explain the meaning and nature of social marketing; analyse social marketing problems and suggest ways of solving these issues; recognise the range of stakeholders involved in social marketing programmes and their role as target markets; and assess the role of branding, social advertising and other communications in achieving behavioural change.

This unit covers the fundamental concepts and components of ICT infrastructure, including hardware, software, network, and security. In today's digital age, having a strong ICT infrastructure is essential for businesses to remain competitive. The unit covers topics such as computer architecture, operating systems, database management, networking concepts, and security principles.

Students will learn how to design and implement an ICT infrastructure that meets the needs of a business. They will also gain an understanding of the different types of computer hardware, their functions, and how they can be optimised for specific tasks.The topics that will be discussed in this unit include:

• Types of computer hardware and their functions
• Operating systems and their features
• Database concepts and management
• Networking principles and technologies
• Security threats and countermeasures

This unit explores the application of machine learning and artificial intelligence in business contexts. With the increasing amount of data being generated and stored, businesses are turning to machine learning and artificial intelligence to gain insights from their data. The unit covers topics such as machine learning algorithms and models, neural networks, natural language processing, and ethical considerations

Students will learn how to use machine learning and artificial intelligence to analyse data and gain insights that can be used to make informed business decisions. They will gain an understanding of different machine learning algorithms and models, as well as techniques for data pre-processing and feature engineering.

This unit explores the management and governance of data in the context of cloud computing. With an increasing amount of data being generated every day, businesses are turning to cloud computing to store and analyse their data. The unit covers topics such as data privacy and confidentiality, data integrity and availability, cloud service models, and cloud deployment models.

Students will learn how to design and implement a data governance framework that ensures the confidentiality, integrity, and availability of data. They will also gain an understanding of the different cloud service models and deployment models, and how they can be used to meet the needs of a business.

Possible topics that could be discussed in this unit include:

• Data governance frameworks and best practices
• Cloud computing service models and deployment models
• Cloud security and compliance
• Data privacy and confidentiality in the cloud
• Data backup and disaster recovery in the cloud

This unit covers the principles and practices of information security, governance, and frameworks. With the increasing amount of data being generated and stored, it is important for businesses to have a strong security framework in place to protect their data. The unit covers topics such as security policies and procedures, risk management, compliance frameworks, and auditing.

Students will learn how to design and implement a security framework that ensures the confidentiality, integrity, and availability of data. They will also gain an understanding of different compliance frameworks and regulations, as well as techniques for auditing and monitoring security controls.

Possible topics that could be discussed in this unit include:

• Information security principles and practices
• Risk management frameworks and methodologies
• Compliance frameworks and regulations
• Auditing and monitoring of security controls
• Incident response and disaster recovery planning

Domestic Students

Year 12 Applicants:

a. English: a study score of at least 25 in English (EAL) or at least 20 in English other than EAL.

Non-Year 12 applicants (transfers, mature age, pathway students)

a. Must submit a Personal Statement to be considered during the selection process which includes details on motivation for study, work experience, community experience, academic performance, languages other than English and other relevant information.

b. Must demonstrate their competence in English language to an equivalent level of Year 12 English (e.g. a study score of at least 25 in English (EAL) or at least 20 in English other than EAL). This could be accomplished through a range of methods including:

• Successful completion of a degree or diploma in Australia
• Completion of Certificate IV in EAL
• Satisfactorily completed ELICOS or EAP to the appropriate level (equivalent to IELTS 6.0 overall and no band less than 5.5)
• Complete English language bridging course through a recognised English language centre
• Satisfactory completion of at least one semester of study in Australia in a tertiary course (satisfactory for this purpose would mean that the applicant has completed 50% or more of the semester load)
• Completion of schooling from the following countries where English is the official language: Australia, Canada, New Zealand, Singapore, United Kingdom and United States of America
• In exceptional cases, the Executive Dean or delegate, can consider an English entry requirement waiver, other than the above criteria, on a case-by-case basis as deemed fit.

International Students

Successful completion of Australian Year 12 equivalent and an IELTS band score of 6.0 (with no band less than 5.5) or equivalent.

• Any recognised degree is required to enter VIT’s MBA course. A recognised degree is any Australian or equivalent overseas degree at AQF level 7 or above.

Non-Graduate Entry: Graduate Certificate

• If a candidate does not hold any previous bachelor’s degree (AQF 7) or a recognised equivalent qualification from any other country, the candidate can be admitted to the Graduate Certificate of Business Administration (GCBA), with at least five years of relevant experience, and if they successfully pass the 4 units of GCBA they may exit with a GCBA and/or may continue with an MBA course.