Award: Business Environment

Summary

This award 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.