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The Business Environment Assignment Learning Outcomes – on completion of this unit you should; 1 . Know the range of different businesses and their ownership 2. Understand how businesses are organized to achieve their purpose 3. Know the impact of the economic environment on businesses 4.
Know how political, legal and social factors impact on business Task 1 – submission Date 27/09/2012 You are working as a business journalist for the Express and Star newspaper which is planning to run a monthly feature article on local businesses.
Produce an article on TV’0 contrasting businesses which operate in the local area, covering purpose, ownership, organizational structure and strategic planning. Business Type You need to highlight what category the business comes under and provide some facts and figures to support your claim.
The options available include; Local, National, International, Global, Public, Private, Not-for-profit, Voluntary, Primary, Secondary, Tertiary Purpose Why does the business exist? Does the business have a mission statement? How was the business started? How has it grown? What is the businesses core activity? Does the business have any secondary activities? Ownership Identify the following; public or private sector or charity Type of private sector ownership; sole trader, partnership, private limited company, public limited company, franchise, cooperative. What are the liabilities of the owners? Explain how the type of ownership is suited to each business This task covers Pl – Describe the type of business, purpose and ownership of each business Task 2 – Submission date – 11/1 0/2012 (PA) 25/10/2012 (MI) 25/10/2012 (Del) Your next months feature for the Express and Star is to write a report on the stakeholders who influence the purpose of two businesses, which operate in the local area For PA in your article you should: 1.
Define the term stakeholder 2.
Identify the main stakeholders for each business 3. Explain what each stakeholder is hoping to achieve and how they try to influence the activities of the organization For MI 1 . Explain the point of view of each stakeholder, how does this compare to the aims and objectives of the organization? 2. Highlight how there could be inflicts of interest or interdependencies be;en stakeholders For Del – Using one organization only 1 . Who are the most powerful stakeholders in that organization and why? 2.
Use evidence of independent research to back up your arguments to show how those stakeholders have influenced the organization. This task covers; PA – Describe the different stakeholders who influence the purpose Of two contrasting businesses MI -Explain the points of view of different stakeholders seeking to influence the aims and objectives of two contrasting organizations Del – Evaluate the influence different stakeholders exert in one organization Task 3 – submission date – 24/1 0/2012 (PA) 1 5/11/2012 (PA) The Express and Star are very pleased with your work for them so far, for next month the feature is an article on how two businesses which operate in the local area are organized. For PA -? Your article should include: An organizational chart for each business which highlights the span of control and chain of command An outline some of the activities carried out in each functional area, highlighting roles and responsibilities How are strategic plans re made in each business Tip For a medium to large business use research to find an example of their organizational structure and make your own comments on how the business is organized. For a small business draw your own organizational structure outline possible job roles based on your knowledge of the business For PA your article should include: An outline the main values, aims and objectives Of each business including SMART objectives An explanation of how the organizational structure and strategic planning help the business achieve their purpose and aims Tip – For a small business which does not have a written mission statement or aims and SMART objectives written down, you can write your own based on your knowledge of the business PA – Describe how two businesses are organized PA – Explain how the style of the organization helps them to fulfill their purpose Task 4 – Submission date – 29/11/2012 (PA) 29/11/201 2 (MM) Your editor is very excited about this months feature, which is an article featuring two businesses, this time one in the local area and one abroad. You can choose the businesses and the location of the business overseas.
You are to produce an article describing how economic factors affect each of the selected businesses. For AS 1 . Select 2 organizations; 1 local 1 overseas 2. Give an outline of the economic environment that each business is operating in (which can include, economy, government policy demand, supply, global interaction) 3. For each economy include at least 2 economic topics (e.
G. Recession, credit crunch, unemployment, housing, oil prices, inflation, exchange rates, interest rates etc. ). 4. Describe how each economic topic you have outlined will influence each business For MM 1 .
Compare the economic challenges faced by the businesses in the economic environments 2. Identify 3 business activities which have been adapted to suit their environment ( You can include any activities carried out by the functional areas of the business e. G. Recruitment) This task covers: PA – Describe the influence of two contrasting economic environments on business activities within a selected organization MM – Compare the challenges to selected business activities within a selected organization, in two different economic environments Task 5 – submission date – 13/1 2/2012 (PA) 13/12/2012 (MM) 20/12/2012 (DO) Your editor was so pleased with last months feature that she wants to develop it for next month. Again, a local business is to be contrasted with a business overseas in terms of the influences of political, legal and social factors.
For PA – Your article should: 1. Identify what is happening in the external environment in terms of the following factors; Describe the legal framework the businesses operate in terms of an outline of business law Describe the political framework the business operates in (E. G. Hangs in government, taxation, infrastructure, grants, education, support such as Business Link) Describe the social framework the business operates in (E. G.
More people from overseas working in the LIKE, aging population, ethics, attitudes to work etc. ) 2. Describe how each of these external factors impacts on the business and its stakeholders For MM 1 . Analyses the political, legal and social challenges faced by the businesses in the two economic environments. 2.
Identify 3 business activities which have been adapted to suit their environment ( You can include any activities carried UT by the functional areas of the business e. . Product development) 1 . Build on your work for MM and MM evaluate the responsiveness of each business to their different economic environments, consider (a) What are the likely new challenges? (b) What changes are taking place in society? (c) What are the forecasts for the economy? 2. Make justified recommendations for the future development Of business activities in the novo different business environments. PA – Describe how political, legal and social factors are impacting upon the business activities of the selected organizations and their stakeholders MM Analyses how political, legal and social factors have impacted on the two contrasting organizations DO – Evaluate how future changes in economic political, legal and social factors, may impact on the strategy of a specified organization Resources A good assignment will include information obtained from a variety of resources, including textbooks, journals, internet, along with business sections Of newspapers and magazines.
It is important to reference your work carefully and include a list of sources of information when you hand in your work.