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Waec Business Management Syllabus/Questions 2019

This is the official 2019 waec Business Management syllabus and Questions and Answers. Rotate the screen of your phone for full view.

Waec Business Management Syllabus

Waec Business Management Syllabus

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.

See 2019/2020 Waec Agric Science Syllabus

  1.      Waec Business Management Syllabus 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.

  1. 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.

  1. Waec Business Management 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 Management and

administration

1.1.2   Basic Functions of                                       Management

1.1.3   Levels of Management

1.1.4   Types and Roles of Managers                   1.1.5   Difference between Administration

and Management

 

1.2.1  Meaning of Business Organization

1.2.2. Identification of Major Forms:   (Sole

Proprietorship, Partnership,                          (Sole Proprietorship,

Limited Liability Company, Public

orations, Co-operative society)                                                                                   Co-operative society)                                                Company, Public orations,                                       Co-operative society)

1.2.3. Procedures for the

formations/Characteristics,

advantages and disadvantages of each

form.

1.2.4 Causes of business failure.

 

1.3.1 Meaning of Business Environment

Business Environment,                                  Business Environment,                                            Environment                                                            Business Environment,

1.3.2 Forces in the Businesses Environment                                                                                  Environment

1.3.3 Ethical, legal and social

responsibilities of Businesses.                      responsibilities of Businesses.

1.3.4 Primary and Secondary stakeholders –

meaning and differences.

1.3.5 Responsibilities of businesses towards

 

 

 

 

 

2.1.1 Meaning and importance of planning                                                                            of planning

2.1.2 Steps in planning, Types                              of planning, Limitations to                                      planning

.2.1.3 Meaning and of planning, Limitations

to planning

2.1.3 Meaning and importance of decision

making.                                                           importance of decision                                            making.                                                                    planning                                                                   importance of decision                                            making.                                                                     stakeholders.                                                          businesses towards                                                  stakeholders.                                                                                                                                                                                          1.

 

 

TOPICS NOTES
  

 

 

 

2.2   Organizing

 

 

 

 

 

 

 

 

 

 

 

 

 

2.3 Directing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.4 Controlling

2.1.4    Step in the decision making process.2.1.5  Types of (Programmed and Non-

programmed) decisions.                                Non-programmed) decisions.                                  making process.                                                                                                                      2.1.5 Types of (Programmed and                             Non-programmed) decisions.

2.1.6   Levels of   management decisions.

 

2.2.1 Meaning, importance and activities of

organizing

2.2.2 Principles of organizing,

Organizational structure and

Organizational chart

2.2.3 Centralization and decentralization-

meaning differences, advantages and

disadvantages.

2.2.4 Meaning and benefits of delegation.

2.2.5 Reasons why managers do not delegate

2.2.6 Reasons why subordinates do not

accept Delegation

2.2.7   Guidelines for delegation

 

2.3.1 Meaning and elements of directing

2.3.2 Motivation – meaning, intrinsic and

extrinsic factors

2.3.3 Maslow’s Hierarchy of Needs.

2.3.4   Leadership importance of good

leadership.

2.3.5 Leadership styles and Sources of

power available to leaders.

2.3.6 Communication –meaning,

importance,

channel formal and informal

2.3.7   The Communication process

2.3.8   Barriers to communication

2.3.9   Guidelines to effective

communication

 

2.4.1 Meaning and reasons for controlling

2.4.2   Steps in controlling.

2.4.3 Tools for controlling

 

 

 

TOPICS NOTES
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

3.1   Concept of ICT3.2   Data and information, meaning,

differences;

and sources of   business information

3.3 Functions of the computer

3.4 Applications of computers in Business

3.5 Advantages and challenges of the use of

Computers in business

 

 

 

4.1.1. Meaning and elements of contract

4.1.2 Classification of contracts

4.1.3   Vitiating factors (Void and Voidable

contracts)

4.1.4   Ways of discharging a contract

 

4.2.1 Creation of agency

4.2.2 Rights and duties of a principal

4.2.3 Rights and duties of an agent

4.2.4 Termination of agency

 

4.3.1 Meaning and characteristics of

negotiable instruments

4.3.2 Types of negotiable instruments

(Cheques; Bills of exchange;

Promissory notes)

4.3.3 Cheques: Class, types, advantages,

disadvantages and ways of avoiding

cheque frauds.

 

 

 

 

5.1.1 Meaning and characteristics of money                                                                            characteristics of money

5.1.2 Functions of money

5.1.3 Meaning and causes of inflation

 

5.2.1 Types of banks

5.2.2 Functions of the Central bank

5.2.3 Functions of commercial and other

types of banks

5.2.4 Types of bank accounts.

5.2.5 Tools of monetary control

 

 

TOPICS NOTES
     5.3  Risk Managementand 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 management5.3.2 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 NOTES
   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

7.2.1 Challenges of developing economiesin relation to International trade

7.2.2   Ways of improving Developing

Economies by Government

7.2.3 Role of the following institutions in

international trade : International

Monetary Fund (IMF), International

Bank for Reconstruction and

Development (IBRD), United Nations

Conference on Trade and

Development (UNCTAD).

 

 

 

 

8.1.1  Meaning and causes of globalization

8.1.2   Advantages and disadvantages of

Globalization

 

8.2.1 Meaning of economic integration

8.2.2 Roles of the following in economic

integration :

Economic Community   of   West

African States (ECOWAS), African

Union (AU), European

Union (EU), P African European Pacific

Countries Association of South and

Eastern Asian Nations (ASEAN).

 

 

 

9.1.1 Meaning of human resource

Management

9.1.2 Functions of human resource

management

9.1.3 Steps in the recruitment and selection

process

9.1.4 Sources of recruitment

9.1.5 Types of training;

9.1.6 Job Analysis (job description and job

specification)

9.1.6 Performance appraisal – meaning and

importance

 

TOPICS NOTES
9.2     Labour Relations

 

 

 

 

 

 

 

9.3      Fundamentals of            Production Management

 

 

 

 

 

 

 

 

 

 

 

 

 

9.4    Principles of Marketing

9.2.1  Meaning of labour relations,   TradeUnions 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 andimportance.

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

 

That is all on Waec Business Management Syllabus

Waec Business Management Syllabus

Waec Business Management Syllabus

Waec Business Management Syllabus

Waec Business Management Syllabus

Waec Business Management Syllabus

Waec Business Management Syllabus

Waec Business Management Syllabus

 

 

 

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