Business

Definition
Business combines the elements of accountancy, finance, marketing, organizational studies and economics for the study of businesses.

Business and management education is concerned with the effective and efficient mobilisation and deployment of society’s limited resources – natural, physical, human and financial. The effectiveness criterion relates to the provision of those goods and services that are most highly valued by society – either by consumer preferences exercised by purchases made through market mechanisms, or by publicly–funded choices made by governments and their agencies, or by philanthropic donations and voluntary contributions by citizens. The efficiency criterion focuses on the provision of these goods and services in a timely fashion, with high quality and with minimum waste.

Business courses aim to provide theoretical and practical knowledge and skills that lead to improved planning, organisation, implementation and control of business and economic activities – not just in the private sector, but also in the public and non–profit / voluntary / third sectors.

Sub skills
Level 1

Level 2

Level 3

Level 4

Level 5

Level 6


 * First Cycle - Business

Level 7


 * Second Cycle - Business

Level 8


 * Third Cycle - Business

Assessment
Current methods used to assess ability in the skill.

Benchmarks
Statements that could serve as comparators for ability.