§-Unit

Unit 2: Business growth

5 dot points, in syllabus order. Each dot point has a focused answer, with exam-style questions and worked answers where available.

Topic 1: Marketing strategies for a growing business

Marketing mix strategies for a growing business - the 7Ps (product, price, promotion, place, people, process, physical evidence) - and the integration of the elements to support growth objectives

Marketing mix. The 7Ps for service businesses (product, price, promotion, place, people, process, physical evidence) and the integration of these elements to support growth, with worked Australian examples from Atlassian, Aesop and Bunnings.

9 min read →

Target market segmentation - demographic, geographic, psychographic and behavioural variables - the selection of target markets, and positioning the business in the chosen segments

Segmentation, target market selection and positioning. The four segmentation variables, the STP (segmentation, targeting, positioning) sequence and positioning maps, with worked Australian examples from Bunnings, Aesop and Aldi.

8 min read →

Topic 2: Financial management of a growing business

Cash flow management for a growing business - the cash flow statement and the distinction between profit and cash, working capital management (current assets and current liabilities, the cash conversion cycle), and strategies to manage cash flow gaps during growth (overgrowth/overtrading risk)

Cash flow. The profit-versus-cash distinction, the cash flow statement, working capital and the cash conversion cycle, the risk of overtrading during growth, and strategies to close cash gaps, with worked Australian examples.

8 min read →

Topic 2: Operations and the management of growth

Operations processes for a growing business - the transformation of inputs into outputs, the role of operations in adding value, productivity and efficiency, quality management (quality control, quality assurance, total quality management), and the influence of technology and economies of scale on operations during growth

Operations. The inputs-transformation-outputs model, adding value, productivity and efficiency, quality management (QC, QA, TQM), and the role of technology and economies of scale during growth, with worked Australian examples.

9 min read →

Topic 2: Human resource management for a growing business

Human resource management for business growth - recruitment and selection strategies, induction and training, employee retention strategies (rewards, career development, workplace culture, flexibility), and the role of HRM in supporting business growth

HRM for a growing business. Recruitment and selection, induction and training, retention strategies (rewards, career development, culture, flexibility), with worked Australian examples from Atlassian, Canva and Bunnings.

8 min read →