This is the official waec gce 2018 Business Management syllabus and hot topics you should read. Rotate the screen of your phone for full view.

The course in Business Management at the senior school level embraces principles and activities in the core functional areas of business management. It also covers legal environment of business, information technology, globalization, economic integration and entrepreneurship.

2. AIMS

The examination therefore intends to test candidates’

(i) understanding and appreciation of the basic concepts, principles and practices of business management;

(ii) understanding of the role of business management in an economy;

(iii) ability to relate the concepts and principles of business management to practical business situations.

(iv) ability to pursue further studies in business management.

3. SCHEME OF EXAMINATION

There will be two papers, Paper 1 and Paper 2; both of which will constitute a composite paper and will be taken at a sitting.

PAPER: 1 This will consist of fifty compulsory multiple-choice objective questions which will cover the entire syllabus and will carry 30 marks. It will last1 hour.

PAPER: 2 It will consist of a compulsory case study question and seven other essay questions, out of which candidates will be expected to answer any three. The case study will range between 200 and 250 words and will carry 25 marks, while the other questions will carry equal marks of 15 each. The paper will therefore carry a total of 70 marks.

4. DETAILED SYLLABUS

TOPICS NOTES

1. NATURE OF MANAGEMENT

1.1 Meaning and Process of

Management

1.2 Forms of Business

Organization

1.3 Business and Society

2. FUNCTIONS OF MANAGEMENT

2.1 Planning and Decision

Making 1.1.1 Meaning of Managemen

administration

1.1.2 Basic Functions of Management

1.1.3 Levels of Management

1.1.4 Types and Roles of Ma 1.1.5 Difference between Ad

and Management

1.2.1 Meaning of Business O

1.2.2. Identification of Major

Proprietorship, Partnership, Proprietorship,

Limited Liability Company, Pu

orations, Co-operative society Co-operative society) orations, society)

1.2.3. Procedures for the

formations/Characteristics,

advantages and disadvantage

form.

1.2.4 Causes of business fail

1.3.1 Meaning of Business En

Business Environment, Business Environment, Environment

Business Environment,

1.3.2 Forces in the Businesse Environment

1.3.3 Ethical, legal and social

responsibilities of Businesses. responsibilities of Busin

1.3.4 Primary and Secondary

meaning and differences.

1.3.5 Responsibilities of busin

2.1.1 Meaning and importanc of planning

2.1.2 Steps in planning, Type of planning, Limitations

plan

.2.1.3 Meaning and of plannin

to planning

2.1.3 Meaning and importanc

making. importance of decision making.

planning importance of decision making.

stakeholders. towards          stakeholders. 1.

TOPICS NOTES

2.2 Organizing

2.3 Directing

2.4 Controlling 2.1.4 Step in the decision makin

2.1.5 Types of (Programmed and

programmed) decisions. Non-programmed) decisions.

making process.

2.1.5 Types of (Programmed a Non-programmed) decisions

2.1.6 Levels of management de

2.2.1 Meaning, importance and ac

organizing

2.2.2 Principles of organizing,

Organizational structure and

Organizational chart

2.2.3 Centralization and decentrali

meaning differences, advantages

disadvantages.

2.2.4 Meaning and benefits of del

2.2.5 Reasons why managers do

2.2.6 Reasons why subordinates d

accept Delegation

2.2.7 Guidelines for delegation

2.3.1 Meaning and elements of dir

2.3.2 Motivation – meaning, intrin

extrinsic factors

2.3.3 Maslow’s Hierarchy of Need

2.3.4 Leadership importance of

leadership.

2.3.5 Leadership styles and Sourc

power available to leaders.

2.3.6 Communication –meaning,

importance,

channel formal and informal

2.3.7 The Communication proce

2.3.8 Barriers to communication

2.3.9 Guidelines to effective

communication

2.4.1 Meaning and reasons for co

2.4.2 Steps in controlling.

2.4.3 Tools for controlling

TOPICS

3. MANAGEMENT

INFORMATION

TECHNOLOGY

4. LEGAL ENVIRONMENT

OF BUSINESS

4.1 Law of Contract

4.2 Principles of Agency

4.3 Negotiable Instruments

5. FINANCE AND

FINANCIAL

INSTITUTIONS

5.1 Money

5.2 Banking

TOPICS NOTES

5.3 Risk Management

and Insurance

5.4 Stock Exchange

6. ROLE OF GOVERNMENT IN THE ECONOMY

7. INTERNATIONAL

TRADAND PROBLEMS

OF DEVELOPING

ECONOMIES

7.1 International Trade 5.3.1 Meaning of risk and risk management

5.3.2 Types of business risks

5.3.3 Meaning and importance of insurance

5.3.4 Principles of insurance

5.3.5 Types of insurance and insurance

Policies

5.4.1 Meaning and functions

5.4.2 Types of securities

6.1 Role of government in an economy

6.2 Sources and types of government

revenue

6.3 Purpose of taxation

6.4 Types of taxes and challenges of tax

collection

6.5 Types and items of government

Expenditure

7.1.1 Meaning of trade

7.1.2 Difference between domestic and

international trade

7.1.3 Documents used in domestic and

international trade

7.1.4 Reasons for international trade

7.1.5 Theories of absolute cost and

comparative cost advantage

7.1.6 Restrictions in International trade

Balance of Payments (BOP) and

measures for correcting BOP deficit

TOPICS

7.2 Developing Economies

8. GLOBALIZATION AND

ECONOMIC

INTEGRATION

8.1 Globalization

8.2 Economic integration

9. FUNCTIONAL

MANAGEMENT

9.1 Elements of Human

Resource Management

TOPICS NOTES

9.2 Labour Relations

9.3 Fundamentals of Production Management

9.4 Principles of Marketing 9.2.1 Meaning of labour relations, Trade

Unions and industrial relations.

9.2.2 Functions of Trade Unions

9.2.3 Employers’ Association: Meaning and

functions.

9.2.4 Collective bargaining-process

importance and rights of parties

involved.

9.3.1 Meaning of production and production

Management.

9.3.2 Forms of Production – extractive,

manufacturing, construction,

commercial and personal services

9.3.3 Factors of production

9.3.4 Meaning of specialization and

exchange

9.3.5 Advantages and disadvantages of

specialization

9.3.6 Types of production process – job,

batch, flow

9.3.7 Steps in production planning and

Control

9.4.1 Meaning of Marketing: Meaning and

activities.

9.4.2 Market segmentation: Meaning and

bases.

9.4.3 Elements of the marketing mix

(product, price,promotion and place)

9.4.4 Steps in new product development

9.4.5 Stages of product life cycle

(introduction, growth, maturity and

decline)

9.4.6 Functions of packaging and uses of

branding

9.4.7 Factors affecting pricing and pricing

objectives

9.4.8 Promotion: Meaning, importance and

types

9.4.9 Channels of distribution

9.4.10 Functions of wholesalers and retailers

TOPICS NOTES

9.5 Electronic Commerce

(e -Commerce)

9.6 Business Finance

10.

ENTREPRENEURSHIP

AND SMALL BUSINESS

10.1 Entrepreneurship

10.2 Small Business 9.5.1 e-commerce: Meaning and

importance.

9.5.2 Meaning of Business Finance.

9.6.1 Short-term and long-term sources of

finance

9.6.2 Government lending programmes;

Venture capital fund

10.1.1 Meaning of entrepreneurship

10.1.2 Role of entrepreneurs

10.1.3 Characteristics of an entrepreneur

10.1.4 Content of business plan

10.1.5 Reasons for business successes and

failures

10.1.6 Record Keeping: Meaning, importance and types.

10.1.7 Time Management: Meaning, importance and techniques.

10.2.1 Small businesses: Meaning and

categories

10.2.2 Procedures in the formation of small

businesses

10.2.3 Importance of small businesses in the

economy

10.2.4 Challenges of small businesses

10.2.5 Role of government in promoting

small businesses

10.2.6 Ways of sustaining an established

business