Unit 1 Business Environment

LSST Unit 1  Business Environment

Unit 1 Business Environment

Introduction

The business environment is ever changing however key aspects never change. The diagram below shows the business environment. Organisations have to be aware of their competitors, the industry as a whole and the wider environment. All of these factors affect the running of organisations and need to be studied as a result.

LO1:  Understand the organisational purposes of businesses

Q1.1 Identify at least four different types of organisations that exist in the U.K.
Q1.2. Select an organisation of your choice and describe the extent to which this organisation meets the objectives of its stakeholders.
Q1.3 Explain the responsibilities of the organisation you selected in Q1.2.  In addition, explain the strategies employed to meet these responsibilities.

LO2:  UNDERSTAND THE NATURE OF THE NATIONAL ENVIRONMENT IN WHICH BUSINESSES OPERATE

Q 2.1 Using a country or countries of your choice, explain how two economic systems attempt to allocate resources effectively.
Q2.2 Using the UK as an example, assess the impact of fiscal and monetary policy on at least two businesses and their activities.
Q 2.3 Evaluate the impact of competition policy and two other regulatory mechanisms on the activities of a selected organisation.

LO3: UNDERSTAND THE BEHAVIOUR OF ORGANISATIONS IN THEIR MARKET ENVIRONMENT

Q3.1 Explain how market structures determine pricing and output decisions of two UK businesses.
Q 3.2 Illustrate how market forces shape organisational responses using at least two organisations as examples and at least 5 market forces.
Q 3.3 In the last 100 years, the UK has drastically changed. Consequently, businesses operating in the UK have had to adapt their marketing mix offerings to capitalise on these demographic and cultural changes.
Assuming you work as a Business Executive for a supermarket chain operating in the UK, write a report to the Directors, explaining how the business and cultural environment in the UK can shape the behaviour of this organisation.

LO4:  BE ABLE TO ASSESS THE SIGNIFICANCE OF THE GLOBAL FACTORS THAT SHAPE NATIONAL BUSINESS ACTIVITIES

Q 4.1 You have been selected by the trustees of your local youth group to make a presentation to young entrepreneurs in the area on the importance of international trade to the local economy. Key to this is a discussion on the significance of international trade to UK business organisations. (Prepare this presentation using a format of your choice (if you use power point slides, take a screen shot of them and paste into your answer)
Q 4.2 Analyse the impact of global factors on UK business organisations.
Q 4.3 For an organisation or organisations of your choice, evaluate at least two European Union policies and explain the impact of these polices on your chosen organisation(s).