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Stakeholders in commercial organisations
(a) Distinction between stakeholders and customers.
(b) Internal and external stakeholders.
(c) Expectations of stakeholders – employers (owners and managers), employees,
associates, and the general public.
Regulatory structure related to commercial organisations – simple understanding only
(a) Simple understanding of the scope only of the Companies Act.
(b) Sales and marketing (concepts behind: code of conduct for advertisers, fair trade, role of MRTP, Consumer Protection Act).
(c) Employment and labour legislation (including an emphasis on the ban on child labour); Human rights and child rights (including the UN Charter). Concept and enforcement of social security laws (including brief reference to Provident Fund, Gratuity, Pension, Group Insurance).
(d) Financial regulation (accounting standards and ethics; taxation).
(e) Regulation on intellectual property (copyright, trademarks, patents).
Marketing
(a) Purposes and key types of marketing activities – with examples from consumer goods, consumer services.
(b) Difference between a product and a service (with examples).
(c) Assessing demand – including use of market research tools.
(d) Advertising and brand promotion.
(e) Sales and the selling process, including the difference between marketing and sales, qualities of a good salesman.
Finance
(a) Purpose of financial recording in commercial organisations (the accounting cycle), elementary understanding of manual and computerised systems.
(b) Principles of financial accounting and reporting – a simple understanding without calculations of the use for non-trading organisations (receipt and payment account, income and expenditure account, balance sheet), trading organisations (trading account, profit and loss account, balance sheet).
(c) Interpreting financial reports – given the financial statements for a trading organisation, students should be able to interpret and make deductions.
(d) Budgets and their utility in planning (including the concept of Cash Flow
statements).
(e) Banking – functions of the Central Bank and commercial banks, types of accounts and banking transactions.
(f) Fundamental concept of Cost (direct, variable, etc.)
5. Human Resources
(a) Methods of recruitment, selection and training (including the use of appraisal systems).
(b) Simple understanding of industrial relations and the role of trade unions.
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