The recognised standard

Unit: Business Environment

Summary

This unit places the working environment in context through the understanding of four elements: the structure and function of organisations, management, marketing and external environmental influences.

Syllabus Topics

1.     The economy (10%)

  • The British economy
  • Nature of industry
  • Employment patterns and population trends in the UK.

2.     The organisation (15%)

  • Types of business organisation
  • Organisational objectives
  • Stakeholders
  • Growth and development and change in organisation
  • PESTEL analysis.

3.     Organisational management (15%)

  • Management and leadership
  • Groups and teams within the organisation
  • Motivation and job satisfaction
  • Communication in organisations
  • Communication system.

4.     The market environment (15%)

  • Marketing management
  • Elements of marketing
  • The product life cycle
  • Promotion
  • Pricing strategies.

5.     The competitive environment (25%)

  • Market structures and behaviour
  • Costs and economies of scale
  • Supply, demand and pricing
  • Determination of exchange rates
  • Elasticity
  • Effects of government intervention and regulation.

6.     The macro-economic influences on the organisation (20%)

  • Circular flow of income
  • The business cycle and the multiplier
  • Economic growth
  • Inflation and deflation
  • Unemployment
  • Government economic policies and their effects.