Unit1 Business Environment

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Unit1 Business Environment
Unit1 Business Environment

London School of Business & Management

BTEC Levels 4 & 5 HND Business

Centre No

79829

Unit No & Unit Title

Unit 1: Business Environment

Course Title

HND Business (BTEC Level 4 and Level 5)

Lecturer’s Name

Dr Knowledge Mpofu

Assignment Title & Type

Business Environment –

Individual Assignment

Date Set

24th September 2014

Due Date

9th January 2015

Academic Year / Semester

September 2014 Semester

Unit Outcomes Covered:

LO1. Understand the organisational purposes of businesses

LO2. Understand the nature of the national environment in which businesses operate

LO3. Understand the behaviour of organisations in their market environment LO4. Be able to assess the significance of the global factors that shape

national business activities.

GRADING OPPORTUNITIES AVAILABLE

Outcomes/ Grade

AC1.1

AC1.2

AC1.3

AC2.1

AC2.2

AC2.3

AC3.1

AC3.2

AC3.3

Descriptors

Outcomes/ Grade

AC4.1

AC4.2

AC4.3

M1

M2

M3

D1

D2

D3

Descriptors

Assessor:

Signature: ______________

Date: ___/___/___

Dr Knowledge Mpofu

September 2014

1

Assignment Brief

Scenario:

Unit 1 Business EnvironmentThe UK business environment remains positive, forward-looking and one of the most attractive places open for business in Europe. The UK government is committed to creating a supportive business environment that encourages a private-sector-led economic growth. According to the World Bank ranking, the UK is one of the easiest places to set up and run a business in Europe, and more overseas companies have their European headquarters in the UK than in France and Germany put together.

Today, the UK is the world’s sixth-largest economy and one of the world’s top ten manufacturers (six of the world’s top ten vehicle makers are based in the UK). It is also the world’s second-largest services exporter (after the U.S.) and the world’s sixth- largest trading nation. Green industries are at the forefront of the UK government development initiatives, making it one of the leading global players in wind energy and the development of offshore wind. More opportunities are reflected in UK’s low-carbon solutions, engineering design, cost consulting, education, research & development, financial and professional services.

British competitiveness remains forward-looking through lowering of corporate tax rate and investing in infrastructure development. The UK government’s current strategy is based on key themes that include: attracting investment to the UK; strengthening the multilateral trading system; enabling developing countries to benefit from trade and investment as well as identifying and maximising the benefits offered by the opportunities for UK businesses to trade and invest. As a result, the UK is among the top three destinations globally for inward investment. The UK Trade & Investment continues to support high- growth and innovative small and medium-sized enterprises (SMEs), while strongly encouraging them to export and seize opportunities in high-growth and emerging markets – Brazil, Russia, India, China and South Africa (BRICS).

Outside of the UK national environment, the government continues working to expand the EU single market, defending the multilateral trading systems, helping the World Trade Organisation (WTO) to defend protectionism, supporting the European Commission in negotiating ambitious free trade agreements while working with businesses to identify and remove regulatory barriers to trade and investment.

[Adapted from Danny Lopez (2011) ‘UK Business Environment: Positive and Forward-Looking’, The Metropolitan Corporate Counsel Special Report, UK Trade & Investment)]

Based on your knowledge and understanding of the Business Environment module, your role is to produce a report that can be used to provide advice to a company of your choice on how it can survive in changing and highly competitive UK local, national and global business environments.

You should choose a business organisation, active in the UK, which you will use as a basis of your answers for this assignment. You should select an organisation you are familiar with, or one you work for, or you would like to work for. Your answers will be more effective if you can support them with clear evidence from research, including the use of relevant theories and academic frameworks. Your research material should come from online sources, company websites, business reports, books, journals and any other academic sources.

Dr Knowledge Mpofu

September 2014

2

Tutor Notes

Key Points:

  • You should answer ALL questions in this assignment.
  • Your assignment should be handed in by the deadline.
  • The assignment must be your own work and original in all answers to the tasks.
  • You are expected to apply Harvard referencing system to acknowledge any secondary sources of information used to support your work in the assignment.
  • You will be expected to check spelling mistakes and grammar before submitting your work.
  • The London School of Business and Management Cover sheet should be used in every submitted work.
  • An appropriate report structure should be used with headings that include: Table of Contents, Introduction, Discussion/Evaluation, Conclusions, References and Appendices (if necessary).

There should be clarity of expression in your work.

Your work should demonstrate, for example, relevant factual content and understanding of the subject, critical analysis, evaluation, justifications, key arguments, correct use of appropriate models/framework etc.

Submission Regulations

1.Assignment Front Cover Sheetmust accompany every submitted work [Cover sheet is available from our Virtual Learning Environment – Moodle].

2.Assignments must be submitted on or before the due date, via Turnitin. Please refer to Moodle for detailed assignment submission instructions.

Dr Knowledge Mpofu

September 2014

3

Assignment Tasks

Task 1: The type and purpose of selected organisation

AC1.1 Identify the type of organisation you have chosen and its main purpose

Your answer will be more effective if you can conduct some research on your selected organisation and identify whether it is a private, public, voluntary or partnership and discuss its purpose including mission, vision, goals, values and objectives.

AC1.2 Describe the extent to which your chosen organisation meets the objectives of its different stakeholders

Your answer should identify different stakeholder groups (internal and external) of the organisation and objectives of each stakeholder group. The stakeholder mapping framework and/or Power/interest matrix can be applied to present and analyse the stakeholders for the organisation. In addition, your answer should explain how your chosen organisation meets the expectations (objectives) of the stakeholders.

AC1.3 Explain the responsibilities of your chosen organisation and some strategies employed to meet them

Your answer should focus on at least two of these responsibilities (social, legal, ethical, health & safety) of your chosen organisation and explain them in relation to any of these examples: employees, customers, suppliers or the environment. You also need to explain how the organisation meets these responsibilities.

Task 1 covers assessment criteria AC1.1, AC1.2 and AC1.3

Dr Knowledge Mpofu

September 2014

4

Task 2 : The nature of national environment in which your chosen organisation operates

AC2.1 Explain how different types of economic systems attempt to allocate scarce resources effectively

Your answer should explain using specific examples how different economic systems such as traditional, command, free market and mixed attempt to allocates scarce resources effectively. Your answer should also identify the type of economic system for the UK in which your chosen organisation operates.

AC2.2 Assess the impact of fiscal and monetary policy on the chosen organisation and its activities

Your answer should discuss fiscal and monetary policies for the UK, and show how they affect the activities of your chosen organisation. Your answer should highlight key aspects of the UK fiscal policy such as taxation, government spending, borrowing, deficit etc. Similarly, the Bank of England’s monetary policy can be explained in terms of the supply of money, interest rates etc, showing how these affect the activities of your chosen organisation.

AC2.3 Evaluate the impact of UK competition policy and other regulatory mechanisms on the activities of your selected organisation

Your answer should discuss the UK competition policy bringing out, for example, how it helps to promote competition while protecting consumers and businesses from unethical and monopolistic practices etc. Your answer should also identify some major competition regulatory mechanisms in the UK, including some sector-specific regulators (Watchdog agencies) and explain how they help to influence activities of your chosen organisation.

Task 2 covers assessment criteria AC2.1, AC2.2 and AC2.3

Task 3: The behaviour of your chosen organisation in its market environment

_________________________________________________________________________________

AC3.1 Explain how market structures determine the pricing and output decisions of your chosen organisation

Your answer should explain, using specific examples where possible, how market structures (e.g. perfect competition, monopolistic competition, monopoly, duopoly and oligopoly) influence the pricing and output decisions in general, and more specifically how these decisions could influence the behaviour of your chosen organisation.

AC3.2 Discuss how market forces shape the way in which your chosen organisation responds in the business environment in which it operates

Your answer should discuss, using a range of examples, how market forces (e.g supply & demand, pricing & output decisions, consumer attitudes & behaviour, etc) affect your chosen organisation and how it reacts or performs under the influence of these market forces. Your answer will be more effective if you can use relevant theories and illustrations to explain market forces such as the laws of supply and demand.

AC3.3 Discuss how the external business environment and cultural factors shape the behaviour of your chosen organisation

Your answer should show your judgement on how the external business environmental factors: Political, Economic, Social, Technological, Environmental and Legal (PESTEL) and cultural factors influence the behaviour of your selected organisation

Task 3 covers assessment criteria AC3.1, AC3.2 and AC3.3

Dr Knowledge Mpofu

September 2014

5

 Task 4 Significance of the global factors that shape UK national business activities

AC4.1 Discuss the significance of international trade to UK business organisations

Your answer should discuss e.g the benefits (advantages) and challenges (disadvantages) of international trade to the UK business organisations in general, and more specifically the opportunities/benefits and threats/challenges it presents for your chosen organisation.

AC4.2 Analyse the impact of global factors on UK business organisations

Your answer should identify and analyse the impact of some major driving forces of globalisation using examples of contemporary issues such as global warming & climate changes, economic crisis, emerging economies of BRICS, poverty & unemployment, wars & conflicts, natural disasters etc). Your answer should also show how these global factors are influencing the activities of your chosen organisation.

AC4.3 Evaluate the impact of European Union (EU) policies on UK business organisations

Your answer should discuss the significance of the EU policies on the UK business organisations. Your answer should focus on at least three EU policies and show how these affect UK business organisations in general, and more specifically your chosen organisation.

Task 4 covers assessment criteria AC4.1, AC4.2 and AC4.3

Grading Criteria (Pass, Merit, Distinction)

Criteria for PASS

Possible evidence

AC1.1 Identify the purposes of different types of

LO1 Understand the organisational

organisation

purposes of businesses

AC1.2 Describe the extent to which an organisation

meets the objectives of different stakeholders

AC1.3 Explain the responsibilities of an organisation and

strategies employed to meet them

AC2.1 Explain how economic systems attempt to

LO2 Understand the nature of the

allocate resources effectively

national environment in

which

AC2.2 Assess the impact of fiscal and monetary policy

businesses operate

on business organisations and their activities

AC2.3 Evaluate the impact of competition policy and

other regulatory mechanisms on the activities of a

selected organisation

AC3.1 Explain how market structures determine the

LO3 Understand the behaviour of

pricing and output decisions of businesses

organisations

in

their

market

AC3.2 Illustrate the way in which market forces shape

environment

organisational responses using a range of examples

AC3.3 Judge how the business and cultural

environments shape the behaviour of a selected

organisation

LO4 Be able to assess the

AC4.1 Discuss the significance of international trade to

significance of the global factors that

UK business organisations

shape national business activities.

AC4.2 Analyse the impact of global factors on UK

business organisations

AC4.3 Evaluate the impact of policies of the European

Union on UK business organisations.

Dr Knowledge Mpofu

September 2014

6

Grade Descriptors for MERIT

Possible Evidence

M1

Identify and apply strategies to

M1 An effective approach to study and research has

find appropriate solutions

been applied in producing the required work

M2

Select / design appropriate

M2 Selection of methods, techniques and sources has

methods / Techniques

been justified.

Harvard referencing format has been correctly applied in

both citations and the reference list

M3

Present and communicate

M3 An appropriate structure and approach has been

appropriate findings

used in producing the required work

Grade Descriptors for

Possible Evidence

DISTINCTION

D1 Use critical reflection to evaluate

D1 Analysis shows critical reflection, and conclusions

own work and justify valid

have been arrived at through synthesis of ideas that are

conclusions

well justified

D2 Take responsibility for managing

D2 Independence has been demonstrated in planning

and organising activities

and organising the research and writing of the work

produced and presented.

Harvard referencing format has been competently

applied in both citations and the reference list

D3 Demonstrate convergent/lateral/

D3 Problems have been solved demonstrating creative

creative thinking

application of appropriate theories and academic

frameworks in the analysis to illustrate the points made

Dr Knowledge Mpofu

September 2014

7



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