Managing 2: marketing and finance
This practical module covers topics in marketing and accounting and finance through activities and problem-solving. It takes a very practice-based approach to studying management concepts focusing on your own role. You can study this module on its own or start your OU management studies with it. However, you may find this module easier to engage with if you have studied Managing 1: organisations and people (B628) first.
This module is offered with a combination of face-to-face and online tuition. If you would prefer entirely online tuition or if you wish to study this module outside the United Kingdom or Republic of Ireland, you will need to register on Managing 2: marketing and finance - online version (BZX629).
What you will study
The module looks to answer a variety of questions relating to marketing and finance.
The marketing questions include:
- What is marketing exactly and how is it done in different contexts, including the public sector?
- What’s internal marketing?
- Who are your customers and stakeholders?
- How can you avoid marketing mistakes?
- What is your organisation exchanging with consumers and clients?
- How does your organisation deliver your goods and services and how does it add value?
- How do you price, promote and deliver your goods or services?
- How do you keep your consumers and clients happy?
The finance questions include:
- Why is finance important?
- What are budgets for and how can they be used?
- What are costs and how can you break them down to understand them better?
- What is cash flow and why is it important?
- What’s a profit and loss account and is it relevant to non-commercial sectors?
At appropriate points throughout the module, questions of business ethics and sustainability are addressed and you are encouraged to consider these aspects carefully in the module activities you undertake.
Through activities related to your own work and practices and related reading you will critically reflect on and analyse workplace situations and your own ways of managing clients and finance. The module is ‘solution oriented’ to help you to understand work situations from a manager’s perspective, and to work out what to do, given that you are not likely to be in charge of the organisation you work for. As you work through activities, problems and solutions, you will question the idea that there are single solutions to problems or that there is ‘one best way’. You'll come to understand the constraints, choices and demands that managers need to take into account when making decisions.
As many first line managers are not directly responsible for marketing or finance, the module includes problem scenarios and cases for you to work on. A single problem scenario runs through the finance content to help you make sense of how the different elements of financial management fit together. The idea is to improve your understanding of finance so that you can improve your managerial decision making, rather than to teach you accountancy. The same is true of marketing: every manager needs to understand who the organisation is serving, and why, in order to manage employees in the organisation more effectively.
To study this module you are required to have work experience as the activities assume you have current or prior work situations to which you can apply what you are learning. Your work experience can be as a manager, deputising for a manager, management trainee, supervisor, team leader, if you work in an informal capacity, for example in a voluntary organisation.
If you have no prior higher education experience pre-module preparatory work is provided (see Preparatory work below).
If you have any doubt about the suitability of the module, please speak to an adviser.
If you have not encountered a problem-based approach to learning before, the Module Guide and The Manager’s Good Study Guide are provided and these will be particularly useful at the start of the module. The Module Guide explains the approach and describes the skills required so that you can remedy any gaps in your knowledge. It will also provide an orientation to the module. The Manager’s Good Study Guide enables you to refresh study skills such as reading and note-taking, using logic and building arguments, written communication and report writing, and using numbers.
You may also find this module easier to engage with if you have already studied Managing 1: organisations and people (B628). This module is now discontinued.
You’ll have access to a module website, which includes:
- a week-by-week study planner
- course-specific module materials
- audio and video content
- assignment details and submission section
You will need
All set books will be provided as part of the study materials pack. However, non-native English speakers, particularly those studying outside the UK, may wish to purchase The Oxford Dictionary of Business English for learners of English.
A computing device with a browser and broadband internet access is required for this module. Any modern browser will be suitable for most computer activities. Functionality may be limited on mobile devices.
Any additional software will be provided, or is generally freely available. However, some activities may have more specific requirements. For this reason, you will need to be able to install and run additional software on a device that meets the requirements below.
A desktop or laptop computer with either an up-to-date version of Windows or macOS.
The screen of the device must have a resolution of at least 1024 pixels horizontally and 768 pixels vertically.
To join in the spoken conversation in our online rooms we recommend a headset (headphones or earphones with an integrated microphone).
Our Skills for OU study website has further information including computing skills for study, computer security, acquiring a computer and Microsoft software offers for students.