Core Modules

Business Communication & ICT

Business Communication is increasingly becoming an important aspect of a business organisation today. The need to communicate effectively has already become a necessity than a choice for almost any type of business.  This module introduces the student to this increasing need to improve communication of business. It explores the implications of effective communication has for business environment and is examined by a series questions related to business.

Information Technology has become the architect of change all across different kinds of business organizations.  Progressively, information technology positively augments productivity and competitiveness of an organization which in return cuts costs and improves profits and consumer satisfaction.  This module points up strategic and operational implications of information and communications technology (ICT) as applied to business.  It explores on the impact of ICT as a tool for planning, managing, and marketing such industries. 

The specific Unit’s objectives are as follows:

-           to develop verbal communication
-           to understand non-verbal communication skill
-           to acquire professional presentation skills
-           to develop written communication such as essay writing; report writing and referencing.
-           to understand barriers to communication in business
-           to understand cross cultural communication in business
-           to utilize ICT productivity tools as a means to enhance their soft skills both in written and oral communication.
-           to explore how business organizations are transformed through ICT
-           to identify the capacities of ICT and other innovative technologies in empowering and transforming business organizations
-           to synthesize their knowledge on ICT as applied to business organisation and be able to provide new ideas on how to improve business processes as ICT steps forward

 

INTRODUCTION TO MANAGEMENT

Operating in an environment of globalisation and knowledge management, an organisation needs to be able to respond quickly to the changes so as to stay ahead of the competition. The task of managers has therefore shifted from a tight supervision and control of the work processes to that of empowering the individuals and teams to work together. Today’s managers perform the role of a coach and leader, guiding their ‘people’ towards achieving a common goal.

The Module will provide an opportunity for the students to analyse how management challenges have developed under the different conditions of the recent times.  It will explore how management practices impact on and is shaped by the environment, through a consideration of globalization, ethics, social responsibility, and the social and cultural context of management.  The Module will cover management thought, the main principles of management, management skills, social responsibility and business ethics.

The specific objectives of the Module are to impart knowledge and induce learning on the following key aspects

• Types of managerial work in organizations;
• Management of people as individuals and in groups;
• Different facets of leadership;
• Application of the management principles;
• Impact of change on organizations;
• Key factors that impact on how organizations and managers work;
• Cultural differences and their impact on the workplace practice;
• Corporate social responsibility and business ethics;
• Managing workforce diversity

 

ACCOUNTING

The Module Accounting is offered at the Higher Diploma in Business.  This Module introduces the students to the basic principles of Accounting and the procedures of applying of such principles in practice. 

The specific objectives of this Module are to impart knowledge on the

• Concepts, principles and assumptions in financial accounting;
• Complete accounting cycle, including related documents, procedures and financial statements;
• Internal control and related measures; and
• Communication and analysis of accounting information. 

Accounting is always described as a language of business.  Indeed, sensible business decisions have to be based on relevant and reliable accounting information. 

Accounting information has long been regarded as one of the major source of decision making information. Studying accounting not only helps students to communicate effectively in the current business world, but also enables them in decision making within the limitation of such information. 

For students who wish to pursue their career in the accounting profession, this Module will help pave the way for their further studies in other accounting related subjects. 

 

MARKETING FOR MANAGERS

Marketing for managers module will provide students with an introduction of marketing functions, basic elements of the marketing management process, and its key roles in a business’ operation. Students will be able to identify the importance of meeting market needs and wants in order to sustain and achieve global competitiveness. This course will also enable students to identify and solve many business problems by using a marketing perspective.  Focus will be on product, pricing, promotion, and distribution strategies.

The specific unit objectives are as follows:

• Analyze the psychology behind buyer behavior and client decision-making.
• Manage product through product & service lifecycle and the marketing mix.
• Understand elements of communication programs and ethics in marketing.
• Conduct market research to gain competitive intelligence.
• Value internet marketing in performing online marketing techniques.
• Discuss the significance of giving focus on appropriate marketing strategies.

 

BUSINESS LAW

The specific objectives of this Module are to impart knowledge on the

• State and separation of powers, meaning of law and sources of law
• Meaning of tort and negligence as a tort; Manufacturer’s and professional’s liability for negligence
• Principles of contract; ingredients of contract; contents of contract; consumer protection; duress and misrepresentation; discharge and remedies;

 

As a student of business studies every student is required to know the environment in which the business would operate. Indispensable among them would be the knowledge on the legal environment. Particularly, the knowledge on the principles of negligence, law relating to contracts and consumer protection are highly relevant for a businessman to be successful in his business. This Module would help the students to mould their understanding of the other business principles in a legal environment.

 

STATISTICAL TECHNIQUES FOR BUSINESS

This module covers intermediate statistical techniques that can be applied in various business disciplines, including marketing, management and economics. It makes use of examples drawn from these disciplines. The modules will enable students to analyze, interpret and utilize information, and assist managers, investors and the like in decision-making. It is common knowledge that business and finance professionals now routinely use basic to intermediate statistical techniques in areas such as marketing, management, risk management, auditing and accounting. Because of good employment prospects, there is considerable interest among students in business faculties in many colleges and universities to learn more than just basic statistical techniques.

The specific Unit’s objectives are as follows:

• to impart knowledge on basic statistical skills that will support a career in business
• to understand the significance on the use of statistics in decision-making in a myriad of disciplines

 

BUSINESS FINANCE

The Module Business Finance is offered at the Higher Diploma in level.

Business Finance deals with Financial mathematics, Risks & returns, Capital structure, Financial markets, Money markets, Currencies exchange markets and Techniques for decision-making and dividend policy.

The specific objectives of this Module are to impart knowledge on the

• basic financial techniques used in different areas of finance;
• nature and types of financial markets;
• various financial calculations;
• results of financial calculations;
• different ways of fund raising;
• implications of trading with regards to foreign exchange, etc.; and
• financial techniques to solve managerial problems.

 

As business grows, there is a need for more funds and hence different types of financing have to be considered. How do these methods of financing affect the firm’s revenue, profitability and also its cost of capital?

Today, firms have many financial choices available. These include listing the company, selling bonds, as well as borrowing from banks or obtaining credit from suppliers. It is therefore important to understand business finance, as well as the terms associated with it.

 

BUSINESS STRATEGY

Business strategy is increasingly becoming a more important aspect of business management today, in terms of sustaining growth and increasing shareholder value. Current business growth trends of globalization, internationalization and increasing M&A activities, underlie a renewed focus in the Strategic planning, and management process.
This Module introduces the students to the key building blocks of Business Strategy through the strategic planning process. It also demonstrate the integration of the various new business skills acquired by the students in the other modules of the HDBS course.
The specific objectives of this Module are to impart knowledge and to provide an appreciation of the tools and frameworks for the Strategic planning process in terms:

• Introduction to Strategy and the strategic management process

-  Strategic Vision and Business Mission

• Strategic analyses         -  Industry and Competitive analyses

-  Company situation analyses

• Strategy and competitive advantage
• Matching strategy to the Company’s situation
• Corporate diversification strategies
• Implementing strategy and managing change

Business Strategy planning develops the integrative skills of business students, giving them a holistic cross-functional and competitive perspective of the Company’s position, challenges and it’s strategic options.

Of importance, this course enables the students to gain a holistic understanding of the strategic and general management challenges in the Company’s business growth. To have an elementary overview of the Business Strategy course at this stage, will provide a early learning platform to develop and instill business acumen. 

 
BUSINESS ECONOMICS

The Module Business Economics is a Module of the Higher Diploma in Business validated and certified by CIE. Every business model has to operate as part of a Big System known as the Macroeconomic Environment. It becomes logical on the part of the business managers to have an adequate understanding of the concepts underlying the economic environment in order to help manage their businesses more effectively and efficiently. The Module provides the student with an understanding of international economics in general.

The specific objectives of this Module are to impart knowledge on the

• economic environment within which business operate;
• the theories of macroeconomics and their application to our daily lives;
• international financial markets and their impact on individual enterprises; and
• issues in international economics.

           
Economics plays a very important role in the people’s daily life as well as in the development, survival and growth of a nation. A person is affected by the prices of goods and services, the economic situation, the job opportunity etc. Everyday, there is news of the number of people retrenched, the interest rate, the downturn of the property market or the stock market and so on. Especially, after the economic crisis, the information on the overall economic status becomes more crucial to businesses and individuals. It is thus important for students to understand the nature of economics and how that could be used to facilitate business decision-making as well as international and regional economics and in facilitating the business decision-making at national and regional levels. Students should also be aware that a given economic problem might have more than one solution.

 

Accounting Specialisation

ADVANCED FINANCIAL ACCOUNTING

Advanced Financial Accounting is a specialisation module in the Higher Diploma in Accounting. The unit helps to further develop students’ knowledge and capability in Accounting and Financial techniques and applications.

     The objectives are:

• To build on previous knowledge of the nature and purpose of Financial Accounting.
• To understand the relevance of various Accounting concepts and convention
• To evaluate the impact of alternative methodologies on reported profits and company performance.
• To understand the guidance application of various accounting standards in preparing financial statements.

 

     It is important that Students:

• Understand how financial statements for Groups of companies are prepared in accordance with UK accounting standards.
• Be able to evaluate accounting practice and developments regarding financial reporting.

 

COST AND MANAGEMENT ACCOUNTING

Cost and Management Accounting is a Specialisation Unit offered in Higher Diploma in Business Studies validated by the Royal Society of Arts, U.K.  Cost and Management Accounting deals with Costing techniques and Cost Accounting methods; Short-term and Long-term planning; and Budgeting & Budgetary Control.

The specific Unit’s objectives are as follows:

To introduce the application of Costing and Management Accounting techniques used in planning, control and decision-making.

To enable students to interpret and report upon the information obtained from the use of such techniques.

Accounting is a language that communicates financial and non-financial information to people who have an interest in an organisation.   A Cost Accounting system accumulates financial information for stock valuation and profit measurement.  A Management Accounting system accumulates, classifies and reports information that will assist managers in their decision-making, planning and control information.

 

FINANCIAL SYSTEM

The purpose of this module is to provide basic understanding of various Financial Systems, the segments and the main features of each System.

The specific Unit’s objectives are as follows:

To understand the roles and functions of financial institutions, and to appreciate the wide range of economic and technological factors affecting portfolio risk and returns.

The unit provides an understanding of the overall view of the Financial System and the various constituents of the Financial System.

 

On successful completion of this module, students will be able to:

• Understand the nature of business conducted by deposit taking and other financial institutions
• Understand yields, dividends and discount rates and relate these to Asset prices.
• Appreciate the impact of globalisation and technology on financial institutions.
• Appreciate the theories of determination of the level and the structure of interest rates and understand the significance of Market hypothesis.

 
INVESTMENT AND PLANNING TECHNIQUES

Investment and Planning Techniques (IPT) is a Specialisation Module in the Higher Diploma programs validated and certificated by RSA/UCLES.   The module provides the students an understanding of numerical techniques relevant to finance and investment.

The specific objectives of this unit are as follows:

a.         Perform various financial calculations and interpretation of the results
b.         Use of differentiation techniques to solve managerial type problems
c.         Solve network problems using relevant methods

The unit aims to give the students a foundation for the use of a variety of optimising techniques used by the management.

On completion of this unit, students will be able to:

• Perform various financial calculations and interpret results
• Use differentiation techniques to solve managerial type problems

-     Use a spreadsheet where appropriate
-     Solve network problems using relevant methods