Unfortunately, the way Business Studies is described by a number of students as a subject is quite subjective, and can lead to misconceptions. In order to be able to provide an accurate image of what Business Studies truly entails, we need to distance ourselves from personal opinions students have of this subject which can impact the accuracy with which they describe its content, and instead address this concern in an objective manner. For instance, I have noticed some inaccurate information being provided about this subject based on not only subjective, but also irrelevant factors in the last couple of days. Subjective factors include describing Business Studies as a "dry" and "repetitive" subject, which indirectly associates it with the negative connotation of being a subject that is lacking in terms of content and usefulness, and irrelevant factors, such as scaling, particularly when compared to Economics, as well as misleading information, such as the suggestion that Business Studies will not be beneficial beyond the HSC if you wish to study a Bachelor of Business/Commerce at university for example. With the notion of being a "dry" and "repetitive" subject, students are missing important benefits (not content-related) of taking Business Studies, such as linearity and organisational skills.
Now let's answer your question with respect to the actual content. Business Studies covers a multitude of business fields, including:
- Management (Preliminary)
- Operations (HSC)
- Marketing (HSC)
- Finance (HSC - Economics is also covered within this topic, although to a lesser extent)
- Human Resources (HSC)
It is important to mention that there is no HSC subject that will help you on its own in the real world. HSC subjects provide you with foundational knowledge. If you decide to work in the field covered by a particular HSC subject, you will most likely need to further your studies and expand your knowledge, which is normally done by studying a relevant university degree.
In terms of tertiary studies, the suggestion that Business Studies will not be beneficial beyond the HSC is incorrect. While it may not necessarily be a subject that is treated as assumed knowledge or a prerequisite for university degrees, you will find that if you take this subject, you will be familiar with quite a number of concepts taught in a Bachelor of Business/Commerce, particularly during your first-year studies, possibly making your first-year studies a less difficult and more enjoyable experience. If I hadn't taken Business Studies, I would've been unfamiliar with an increased number of concepts covered during my first year that I would've otherwise covered in advance if I had taken Business Studies, making this a revision instead of exploring new concepts.
In a previous thread, I have outlined some good examples of specific concepts you learn in Business Studies which will be revisited at university. I will include additional examples in this thread:
- The HR cycle
- The stakeholders in the employment relationship
- laws and regulations relevant to HRM
- Reward and performance management
- The marketing mix
- Financial ratios
Business Studies may/may not be of benefit beyond first-year (depending on your degree and/or major). Beyond first year, you start to explore more complex concepts relevant to your specific area of study (your major). For example, as someone majoring in Human Resource Management, there is an important psychology/sociology component taught, the theory of which is beyond the scope of Business Studies.
If the area of business you wish to go into is not covered in depth by Business Studies, such as Economics, it would be better to take Economics in that particular case, because while Economics is restricted to one area of business, it covers this area in-depth, which can provide you with foundational knowledge that is useful if you wish to study a Bachelor of Business/Commerce with an Economics major, a Bachelor of Economics and (possibly) a Bachelor of Actuarial Studies. Similarly to Business Studies, you will eventually reach a point within your degree where HSC Economics will no longer be beneficial, as the concepts you learn (particularly beyond first year) will be beyond the scope of HSC Economics.
I hope this helps!
