VCE Business
Management 3&4 2026 |
Study Guide, Practice
Questions, Answers,
Rationales & Exam Review
| Complete Ethics Study
Guide
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
,Communicating The two way process of sending and receiving information
Delegating The process of handling over tasks and responsibilities to subordinates
Leading Involves the skill of the manager to influence others to do their best to achieve
Planning Refers to defining objectives and determining strategies to achieve those objectives
Decision Making The ability to choose the best course of action from a range of options
Interpersonal skills Refer to the ability to communicate, interact and build positive relationships with
other people both individually or in groups
Steps for effective communication 1. be clear (plan the communication)
2. Choose the most appropriate method, timing and suitable location
3. Tailor the message to suit the audience
4. Eliminate noise, distractions, including over communication
5. Ensure the message is received and understood. - seek feedback
6. Allow questioning and modifications to the message if required
Main categories of planning 1. Strategic planning: long term up to 5 years
2. Tactical planning: medium term, up to 6 months to 2 years
3. Operational planning: short term, day-to-day plans
Planning process D- Define objectives
A- Analyse using a SWOT analysis
D- Develop alternative strategies (determining possible ways of achieving
objectives)
I- Implement a strategy
M- Monitor and evaluate the strategy deciding if the objectives are being met
Decision making process 1. Identify the issue or problem that needs to be solved or decided upon
2. Gather the facts relating to the problem or issue
3. Develop a range of alternative possible solutions
4. Analyse and evaluate the alternatives - rank and sort them
5. Choose one of the alternatives and implement it
Corporate culture The shared values and belief held by an organisation
Official corporate culture The desired culture a business wants to establish and project to the public
, Real corporate culture The actual or prevailing culture that exists
Indicators of a corporate culture - Mission statement
- The way staff treat each other
- Image (customer service/branding)
- Dress code/ uniform (relaxed, informal, professional)
- Management style used
- Rituals, celebrations, heroes
Maslows Hierarchy of needs 1. Physiological needs
2. Safety needs
3. Social/Belonging needs
4. Self-esteem needs
5. Self-actualisation needs
Locke and Latham's Goal setting Specific
Measurable
Attainable
Relevant
Time bound
Lawrence and Nohria's Four drive theory 1. Drive to acquire
2. Drive to bond
3. Drive to learn (comprehend)
4. Drive to defend
Motivation Strategies - Performance related pay
- Career advancement
- Support
- Sanction
- Investment in training
On-the-job training occurs within the working environment
Off-the-job occurs away from the workplace
Termination when employees leave the organisation
Management 3&4 2026 |
Study Guide, Practice
Questions, Answers,
Rationales & Exam Review
| Complete Ethics Study
Guide
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
,Communicating The two way process of sending and receiving information
Delegating The process of handling over tasks and responsibilities to subordinates
Leading Involves the skill of the manager to influence others to do their best to achieve
Planning Refers to defining objectives and determining strategies to achieve those objectives
Decision Making The ability to choose the best course of action from a range of options
Interpersonal skills Refer to the ability to communicate, interact and build positive relationships with
other people both individually or in groups
Steps for effective communication 1. be clear (plan the communication)
2. Choose the most appropriate method, timing and suitable location
3. Tailor the message to suit the audience
4. Eliminate noise, distractions, including over communication
5. Ensure the message is received and understood. - seek feedback
6. Allow questioning and modifications to the message if required
Main categories of planning 1. Strategic planning: long term up to 5 years
2. Tactical planning: medium term, up to 6 months to 2 years
3. Operational planning: short term, day-to-day plans
Planning process D- Define objectives
A- Analyse using a SWOT analysis
D- Develop alternative strategies (determining possible ways of achieving
objectives)
I- Implement a strategy
M- Monitor and evaluate the strategy deciding if the objectives are being met
Decision making process 1. Identify the issue or problem that needs to be solved or decided upon
2. Gather the facts relating to the problem or issue
3. Develop a range of alternative possible solutions
4. Analyse and evaluate the alternatives - rank and sort them
5. Choose one of the alternatives and implement it
Corporate culture The shared values and belief held by an organisation
Official corporate culture The desired culture a business wants to establish and project to the public
, Real corporate culture The actual or prevailing culture that exists
Indicators of a corporate culture - Mission statement
- The way staff treat each other
- Image (customer service/branding)
- Dress code/ uniform (relaxed, informal, professional)
- Management style used
- Rituals, celebrations, heroes
Maslows Hierarchy of needs 1. Physiological needs
2. Safety needs
3. Social/Belonging needs
4. Self-esteem needs
5. Self-actualisation needs
Locke and Latham's Goal setting Specific
Measurable
Attainable
Relevant
Time bound
Lawrence and Nohria's Four drive theory 1. Drive to acquire
2. Drive to bond
3. Drive to learn (comprehend)
4. Drive to defend
Motivation Strategies - Performance related pay
- Career advancement
- Support
- Sanction
- Investment in training
On-the-job training occurs within the working environment
Off-the-job occurs away from the workplace
Termination when employees leave the organisation
