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Unit 3 — Strategic international business growth
Unit 3 asks why and how a business expands beyond the domestic market. It opens with the PEST-style drivers of global development — financial growth or loss-minimisation motives, consumer spending patterns, WTO regulation and financial deregulation — then follows the effects of globalisation on employment, skills, technology, international cooperation and the domestic market, including tax minimisation through tax havens and transfer pricing, and the counterweight of ethics: environmental responsibility, outsourcing and the use of offshore labour. It covers the government and trade-agreement levers available to an expanding business (grants, taxation incentives, AANZFTA and ANZCERTA), the role of e-commerce, and then the marketing and alliance decisions of going global: feasibility of entering a foreign market, standardising or adapting the marketing mix for a global brand, and the rationale for joint ventures, mergers, acquisitions, franchising and outsourcing. It closes on the financial risk of exporting (currency fluctuation, non-payment, and hedging and documentation as minimisation strategies), the role and success factors of innovation, and change management through Lewin's Forcefield Analysis, Kotter's 8 Steps and managing diversity.
Unit 4 — Global business operations
Unit 4 shifts from the decision to expand to running the business once it has. It covers the environment a global operation sits in: cultural considerations (customs, religious beliefs, business etiquette, communication protocols), ethical practice (ILO minimum labour standards, corporate social responsibility, environmental sustainability), economic factors (discretionary spending, interest rates, currency fluctuations), political stability and government relationships, financial institutions and sources of funding (retained profits, debentures, share capital, trade credit, venture capital, secured loans), and legal and technological factors including competition regulation, patents, product liability and e-commerce security. It then covers the tools of strategic management — the purpose and features of a strategic plan (mission and objectives, an environmental scan using PEST, Porter's Five Forces and SWOT, formulation, implementation, evaluation and control) — the syllabus's financial ratio formulas (current ratio; gross profit, profit, expense and return-on-equity ratios; debt to equity), production management (quality control, assurance and improvement; just-in-time versus just-in-case inventory), the use of technology in global marketing and distribution, and leadership styles (autocratic, participative, situational) and traits in a cross-cultural setting.
Applied skills — financial ratios and the syllabus's business models
Across both units, four tools recur in almost every paper: the syllabus's financial ratio formulas, PEST analysis, Porter's Five Forces and SWOT for environmental scanning, and Lewin's Forcefield Analysis or Kotter's 8 Steps for change management. These are not free-standing topics — they are the applied layer the exam uses to test Unit 3 and Unit 4 content, so a constructed scenario almost always asks for a ratio calculation or comment, or for one of these models applied to the business's specific circumstances, rather than a definition of the model itself.
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WACE Business Management and Enterprise — revision plan
Business Management and Enterprise ATAR Course Year 12 Syllabus (2013/37318[v11], for teaching from January 2024)
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Check current requirements and course options: https://senior-secondary.scsa.wa.edu.au/syllabus-and-support-materials/humanities-and-social-sciences/business-management-and-enterprise