Bachelor of Business
Quick Facts
Study Modes
ICHM’s standard mode of delivery is face to face with incorporated technology enhanced learning (TEL). Full TEL delivery is available to students impacted by COVID restrictions.
Course Code
TEQSA:
CRS1401090
CRICOS:
108389K (152 weeks)
108684C (126 weeks)
Subject Summary
23 total
12 Core, 4 Specialisation, 6 Electives
1 Work Integrated Learning (WIL)
Qualification Info
Awards
Bachelor of Business
AQF Level
7
The ICHM Bachelor of Business is designed to position graduates for success as professional business managers in any industry. Every organisation, in every industry, requires management professionals, with skills to oversee the performance of teams, optimise operations and maximise a company’s potential for profit.
Your knowledge is expanded each year with new industry relevant concepts and business applications. At the end of your third-year of study, you will complete one Workplace Integrated Learning (WIL) placement throughout Australia, or possibly overseas.
ICHM graduates gain a comprehensive understanding of the changing business landscape, and as a result, have outstanding career prospects with many obtaining highly sought after positions around the world.
ICHM’s Work Integrated Learning (WIL) process has been designed to ensure students leave their degree industry ready and can hit the ground running.
The professional internship provides a placement opportunity which enables students to consolidate the skills and knowledge they have acquired in practical, professional settings to achieve the subject learning outcomes and complete assessments which integrate theory and practice and facilitate self-reflection and critical analysis.
In addition to participating in the workforce with a host company as part of a structured internship or creating their own entrepreneurship venture, the students will also complete a placement project on an issue of strategic value to their host company or own venture, as described in the next section.
Students will critically reflect upon their own development plan and progress through the preparation of a reflective assessment that considers the impact of identified workplace experiences on their personal development and future career progression opportunities.
This subject also allows students the opportunity to explore their professional interests; test their industry expectations or possible start-up creations and ideas; apply, practice and develop real world employability skills; and form professional networks for future career success.
ICHM prides itself on the quality and number of WIL placements available to its students. These placements form an integral and extremely valuable part of all the ICHM degree programs.
ICHM works with a number of valued industry partners across hospitality and broader business industries, both within Australia and around the world, to facilitate placements which will enhance the career prospects of each individual student.
Bridging the Divide Between Education & Workforce
Outside of the course students have the opportunity to be involved in a Paragon One Externship which adds to the students skill set to bridge the divide between education and the workforce.
Fully-managed, educational, and remote externships that boost student employability and enterprise diversity. Trusted by leading global brands.
Orientation sessions at ICHM are held in week one at the start of each study period to provide a friendly welcome to all new students from Australia and around the world.
With students drawn from across Australia and around the world, students may not know anyone else before they start studying. The orientation sessions are offered to help you get to know each other, introduce you to campus life in Adelaide, to help you get to know your learning environment, support services and facilities, understand our mutual obligations, our services, meet your lecturers, and just generally settle in.
What to Expect
Note: Electives subject to change
Study Period 1
Businesses are competing on a global scale for customers, employees and capital. Every day, these businesses are making choices on how their products or services create value and capture market share through their global operations.
This subject provides a broad overview of doing business globally and the cross-border considerations that impact on the operating environment in which these businesses exist. Students will have the opportunity to consider the variety of perspectives, complexities and challenges faced by businesses operating in a global economy.
Key topic areas that will be covered include frameworks and strategies for operating globally, the legal, political, economic, financial and social-cultural considerations and the ethical and sustainable practices to adhere to. Also discussed will be the technology, marketing and human resource practices currently adopted by businesses operating globally.
This subject will introduce students to the essential academic, communication and literacy skills and attitudes required for tertiary study and the professional workplace.
Key topics covered include academic writing, conducting research, referencing, preparing and delivering presentations, critical thinking, working in teams, verbal and non-verbal communication, creating a professional profile and developing resilience and emotional intelligence.
This subject will introduce students to the essential financial and accounting principles in various business functions.
The subject includes a general overview of accounting principles relating to the preparation of financial statements and covers the major finance and accounting functions. Provides an understanding of a business’s financial position, covering the theory of capital markets, investment and distribution decisions, financial risk management, and financial planning and control.
Understanding organisational behaviour, politics, dynamics and environments and how they impact on the role and legitimacy of the management function is the core of this subject.
This subject helps the individual understand the constraints they face as managers and emerging leaders and how they can develop strategies to leverage advantages and overcome constraints and barriers in their organisations. The subject also focuses on developing some of the advanced communication skills necessary in management and leadership roles, and the ability of the individual to influence others.
In addition, the subject also focuses on the development of knowledge and skills to enable students to identify, analyse and make effective decisions to resolve people-related issues in organisations, facilitate employee development, and develop and sustain effective teams in complex, diverse, and increasingly global operating environments.
This subject is an introduction to marketing and will discuss the fundamental principles of contemporary marketing such as the marketing mix, the role of the customer, marketing research and survey techniques.
The aforementioned principles of marketing are demonstrated using situations that students will encounter in their professional practice of marketing.
This subject aims to provide students with an introduction to economics as a foundation in business, focusing on micro and macroeconomics, but with an introduction to international economics. Business managers need to be aware of the economic environment in which they work, and the impact this environment has on their decision-making.
Topics such as demand and supply, fiscal and monetary policy, and international trade will be some of the issues covered.
This subject will give students the opportunity to familiarise themselves with what it means to be a consumer in the current marketplace and how the needs and wants of a consumer impacts on the development of a marketing plan.
The decision-making process will also be looked at specifically in relation to what motivates consumers to make a purchase, how their attention can be captured and what needs to be done to maintain their loyalty.
This subject will explore the unique characteristics and challenges of marketing services in a competitive environment. It will build upon the marketing concepts and models introduced in MKT101 and apply them to the services sector.
Key topic areas that will be discussed include an overview of services marketing, understating the customer profile, customer relationship management, promotion and pricing strategies specific to marketing of services, customer satisfaction and its impact on value creation and the marketing of services through a crisis or service failure.
The aim of the subject is to introduce the theory and practice of entrepreneurship and entrepreneurs as change agents.
Students can gain an overview of the life cycle of ventures and the resources required. They also assess their own “mindset” and motivations for entrepreneurship to consider their pathway forward.
The subject also introduces the different challenges in entrepreneurship, including the “dark side” resulting from the pressure to succeed.
The focus of entrepreneurship has long been how to build companies. Research of highly successful entrepreneurs has identified that they differ in how they think and solve problems and thus create viable ventures.
In contrast to causal logic based on a goal in the distance, successful entrepreneurs use effectual logic, namely assessing their available means and affordable loss and finding co-creation partners to take the very next step, particularly in light of unavoidable uncertainty.
Students learn how effectual logic complements causal logic, when both are used, and how effectual logic is foundational in applying the Lean Startup Methodology and design thinking.
The culmination of the subject is the formulation of an individual learning plan which applies the principles of effectuation on the student’s emerging entrepreneurship future.
Study Period 2
This subject builds on financial literacy and aims to focus on the use of management accounting information to assist in key areas such as planning and decision-making.
The subject introduces students to management accounting concepts and functions such as analysing financial statements, investment decisions, costing and opportunity costing analysis and managing working capital.
This subject will enable the student to develop an understanding of the knowledge and skills required by human resource managers in the industry.
Students will be introduced to the key principles involved in the recruitment and selection of human resources and how those resources should be developed for the benefit of the individual and the effectiveness and efficiency of the organisation.
This subject introduces students to general legal knowledge relating to the business environment, providing an understanding of the legal responsibilities and risks of doing business in Australia.
It introduces the Australian legal system and discusses the legal regulation of companies and the features and purpose of tort and contract law.
This subject will enable the student to understand business analytics modelling through exploring statistical techniques which are necessary for the modern business environment.
It covers areas such as data exploration and visualisation in business, information technology and various analytical methods used in decision making.
Upon completion of the subject, students will achieve the required insight into how business analytics can be used as a business decision supporting tool to achieve competitive advantages in various business contexts.
This subject will enable the student to understand the theoretical concepts underpinning the management of a customer centric organisation. Understand customer needs and design customer experiences through the application of a range of principles, tools, and frameworks that support the central focus of the customer for continued business growth.
Integrated Marketing Communications (IMC) provides a framework to create and manage brands using a variety of communication initiatives and marketing elements. Students will learn to enhance a brand’s profile with new and existing consumers, increase market demand and maximise the cost effectiveness of using different media channels.
This subject will provide students with the knowledge and skills required to understand and use IMC tools as part of the marketing mix to build a strong brand image and promote brand success. Media channels such as advertising, promotions, public relations, direct marketing and digital marketing will be discussed.
Students will also have the opportunity to plan and develop an effective and socially responsible IMC plan for a brand whilst taking into account budget considerations and media channels used.
Despite a long history of socially-minded entrepreneurs, the recognition of and interest in social entrepreneurship is a recent development.
As society continues to be faced with major challenges, social entrepreneurship can play an important role in change-making to develop a more equitable society. Of particular importance in the study of social entrepreneurship is the concept of stakeholders which have a wide range of needs and expectations.
The keystone work of this course is a framework for a social venture in which success parameters for major stakeholders are defined and measures are designed to ensure sustainability.
In contrast to the traditional business plan, the Lean Startup Methodology is based on the idea that it only makes sense to do detailed planning of a venture once a viable business model is established.
The process begins with an overview of the idea in a Business Model Canvas and the formulation of a series of hypotheses and experiments to test the viability of the idea. As hypotheses are discarded or strengthened, the business model is adapted or even changed significantly or “pivoted”.
The goal is to learn as much as possible quickly and without great expense. Students learn by doing, going through the Lean Startup process and applying it to a business idea, first in a group activity, then on their own, focusing on the learning which needs to take place.
Only after the viability of the venture is reasonably secure does work go into “scaling”, namely building structures to grow the venture.
Build knowledge, skills and attitudes required to succeed as an ethical professional. These knowledge and skills are then applied to identify and evaluate innovative high-growth product and service opportunities in the context of a start-up, a corporation, a not for profit or a government institution.
The subject allows students to practice skills, including creativity, cash-flow modelling, business model analysis and lean experimentation. Students prepare a business plan for a new venture, or an improvement to an existing enterprise, enabling them to innovate and integrate their theoretical and practical knowledge.
Learn the key principles of project management and the knowledge and skills required to undertake and effectively manage projects from initial project selection through to final closure.
Students will have the opportunity to examine the fundamental principles, tools and techniques used by project managers such as planning, scheduling, estimating, costing, risk management, stakeholder management, project teams and the use of appropriate project planning software.
Study Period 3
- Preparatory phase: group discussions of industry case studies, industry presentation, online presentation and pre-industry workshops. One on one discussions with members of the Industry and Career Development (ICD) division
- Placement phase: industry interaction within the approved workplace, workplace observations and evaluation, online discussions and applied assessment strategies
- Retrospective phase: reflective practices, applied assessment strategies, industry and ICD evaluation.
This subject will equip you with a set of tools for managing the ways you lead and behave in organisations more ethically and sustainably. Explore aspects of ethical behaviour, sustainable development, corporate responsibility and stakeholder thinking.
It provides tools to help you analyse how individuals and organisations impact on the economic, social, and environmental contexts in which they operate.
Students will examine why organisations around the world are moving to reduce the adverse effects of business operations on their stakeholders and to become an asset to the communities in which they operate. It introduces you to some of the most common principles and practices associated with individual ethics, corporate ethics and sustainable business practices.
Leadership in modern organisations is a way of thinking and behaving. Leadership is a process of energising, influencing and motivating others. Becoming an effective leader requires self-awareness, self-management and a strong set of interpersonal communication skills, a set of capabilities that are often described as Emotional Intelligence (EQ).
In addition, effective leaders think and act strategically, they build a climate for creativity and innovation, and are culturally sensitive and comfortable with ambiguity.
This subject focuses on developing your leadership capability. It helps you explore your own leadership development and self-image, using the techniques of reflective practices.
The professional internship provides a placement opportunity, enabling students to consolidate the skills and knowledge they have acquired in practical, professional settings. Students have the opportunity to achieve subject learning outcomes and complete assessments, integrating theory and practice, facilitate self-reflection and critical analysis.
In addition to participating in the workforce, with either a host company as part of a structured internship or creating their own entrepreneurship venture, students will also complete a placement project on an issue of strategic value to their host company or own venture, as described in the next section.
Students will critically reflect upon their own development plan and progress through the preparation of a reflective assessment, considering the impact of identified workplace experiences on their personal development and future career progression opportunities.
This subject also allows students the opportunity to explore their professional interests; test their industry expectations or possible start-up creations and ideas; apply, practice and develop real world employability skills and form professional networks for future career success.
Work Integrated Learning (WIL) phases will be utilised throughout the student’s placement experience. The following strategies will be implemented:
The subject introduces students to the discipline of risk management within a global context. Risk management involves the identification, analysis, and monitoring of risks that have the potential to be of significance to organisations as well as how they respond to them.
In this subject, students will explore the background to risk management, who the key stakeholders are, the role of risk management in strategic planning, environmental and media scanning, and how risk management impacts upon contemporary organisations.
It discusses risk management strategies and introduces students to the field of crisis communication management and corporate social responsibility. The subject will also explore incident and accident reporting requirements and the financial implications of risk management.
This subject provides the skills and knowledge required to establish and evaluate the strategic direction of the organisation and identify sustainable competitive advantage to enhance competitiveness in the current business environment.
Students will perform analysis and interpretation of relevant markets, capability assessment of the organisation, and its existing and potential competitors and allies.
The subject also covers the development of the strategic plan for ensuring that the organisation is positioned to ensure its long-term viability and success.
