WAEC Syllabus for Business Management. WAEC Syllabus for Business Management is available for all candidates who want to participate in the examination. The West African examination council (WAEC) has officially introduced a syllabus that will guide all the WAEC candidates who wish to write the WAEC examination this year. For a very successful WAEC Business Management examination for this year, you need to check out the available areas of concentration. It has been divided into sections with chapters, followed by the topics to be covered in preparation for the exams. In the WAEC Syllabus for Business Management, you will also see the format of how the WAEC Business Management questions will be presented. Jamb form
There are 2 sections to answer questions from. Paper 1 is Objective and paper 2 contains essay questions. Where paper one (1) carries 30 marks for 1 hour; paper two (2) carries 70 marks.
This WAEC syllabus is for both the O’level WAEC and General Certificate Examination (GCE) candidates. Final year students in the senior secondary school level and external candidates are eligible to make use of this syllabus and prepare ahead of the examination. WAEC Syllabus for Business Management
See the full detailed information concerning the WAEC Business Management Syllabus below.
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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.
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.
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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. Dollar to Naira Rate
|1. NATURE OF
1.1 Meaning and Process of
1.2 Forms of Business
1.3 Business and Society
2. FUNCTIONS OF
2.1 Planning and Decision
1.1.1 Meaning of Management and
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
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
advantages and disadvantages of each
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
2.1.3 Meaning and importance of decision
making. importance of decision making. planning importance of decision making. stakeholders. businesses towards stakeholders. 1.
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| 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
2.2.2 Principles of organizing,
Organizational structure and
2.2.3 Centralization and decentralization-
meaning differences, advantages and
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
2.2.7 Guidelines for delegation
2.3.1 Meaning and elements of directing
2.3.2 Motivation – meaning, intrinsic and
2.3.3 Maslow’s Hierarchy of Needs.
2.3.4 Leadership importance of good
2.3.5 Leadership styles and Sources of
power available to leaders.
2.3.6 Communication –meaning,
channel formal and informal
2.3.7 The Communication process
2.3.8 Barriers to communication
2.3.9 Guidelines to effective
2.4.1 Meaning and reasons for controlling
2.4.2 Steps in controlling.
2.4.3 Tools for controlling
4. LEGAL ENVIRONMENT
4.1 Law of Contract
4.2 Principles of Agency
4.3 Negotiable Instruments
5. FINANCE AND
|3.1 Concept of ICT
3.2 Data and information, meaning,
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
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
4.3.2 Types of negotiable instruments
(Cheques; Bills of exchange;
4.3.3 Cheques: Class, types, advantages,
disadvantages and ways of avoiding
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
| 5.3 Risk Management
5.4 Stock Exchange
6. ROLE OF GOVERNMENT IN THE ECONOMY
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
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
6.3 Purpose of taxation
6.4 Types of taxes and challenges of tax
6.5 Types and items of government
7.1.1 Meaning of trade
7.1.2 Difference between domestic and
7.1.3 Documents used in domestic and
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
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| 7.2 Developing Economies
8. GLOBALIZATION AND
8.2 Economic integration
9.1 Elements of Human
|7.2.1 Challenges of developing economies
in 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
8.1.1 Meaning and causes of globalization
8.1.2 Advantages and disadvantages of
8.2.1 Meaning of economic integration
8.2.2 Roles of the following in economic
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
9.1.2 Functions of human resource
9.1.3 Steps in the recruitment and selection
9.1.4 Sources of recruitment
9.1.5 Types of training;
9.1.6 Job Analysis (job description and job
9.1.6 Performance appraisal – meaning and
| 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
9.2.4 Collective bargaining-process
importance and rights of parties
9.3.1 Meaning of production and production
9.3.2 Forms of Production – extractive,
commercial and personal services
9.3.3 Factors of production
9.3.4 Meaning of specialization and
9.3.5 Advantages and disadvantages of
9.3.6 Types of production process – job,
9.3.7 Steps in production planning and
9.4.1 Meaning of Marketing: Meaning and
9.4.2 Market segmentation: Meaning and
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
9.4.6 Functions of packaging and uses of
9.4.7 Factors affecting pricing and pricing
9.4.8 Promotion: Meaning, importance and
9.4.9 Channels of distribution
9.4.10 Functions of wholesalers and retailers
| 9.5 Electronic Commerce
9.6 Business Finance
AND SMALL BUSINESS
10.2 Small Business
|9.5.1 e-commerce: Meaning and
9.5.2 Meaning of Business Finance.
9.6.1 Short-term and long-term sources of
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
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
10.2.2 Procedures in the formation of small
10.2.3 Importance of small businesses in the
10.2.4 Challenges of small businesses
10.2.5 Role of government in promoting
10.2.6 Ways of sustaining an established
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