WAEC SYLLABUS FOR BUSINESS MANAGEMENT 2021/2022 (WASSCE)

TOPICS

NOTES

1. NATURE OF

MANAGEMENT

1. Meaning and Process of

   Management

    

    

    

    

    

    

2. Forms of Business

   Organization

    

    

    

    

    

    

    

    

    

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.

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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 ICT

3.2 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

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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

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 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

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, 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