Unit 1 – Exploring Business Learning Aims C and D
Throughout your written work, you need to provide source links, to show what sources you have used. Include any relevant graphs or charts that support your written work.
- Carry out research to select a suitable business to use for this assignment. Your must select a large business that trades in the UK and in the European Union (EU).
- Give a brief introduction to your report; stating the business you have chosen and what the report is about.
- Give an introduction to your selected business. Include what it does, its ownership and where it operates. Ensure EU countries are included.
- Introduce the external environment, explaining what this is and its impact on your business.
- You need to complete a situational analysis:
- Explain what PESTLE is; then complete a PESTLE analysis for your business – use current and relevant research for Political, Economic, Social, Technological, Legal and Environmental factors. (Remember this is for UK and EU)
- Explain what a SWOT analysis is; then complete a SWOT analysis for your business – again use current relevant research to allow you to identify appropriate strengths, weaknesses, opportunities and threats.
- Refer to the 5Cs analysis and Porter’s Five Forces; if relevant, include some detail.
Throughout your work you need to assess the effects of the business environment on your business and evaluate the extent to which the business environment affects your business, using your situational analysis techniques.
- Introduce and explain the internal environment, explaining what this is and its impact on your business. Identify the culture and CSR of your business and explain the impact of this on your business.
Throughout your work you need to assess the effects of the business environment on your business.
- You may have covered competition in your PESTLE, if not you need to explain and analyse the competitive environment your business faces.
- You now need to explore the business market in which your selected business operates. Provide a heading: Assessment of how ??? is affected by the Business Environment
- Identify the type of market your business operates in and explain the features of this market, including how it affects your business.
- Show the impact this has on their pricing and output decisions and how the business responds to this. Include mention of elasticity of prices and whether this will impact your business.
- Briefly explain supply and demand then explain how the market structure and influences on supply and demand affect the pricing and output decisions for your business.
- Your work needs to include an assessment of how your business has responded to changes in the market and evaluate how changes in the market have impacted your business. This needs to include how the business may react to future changes, for example, if demand changes or legislation restrictions are developed.
- Your work also needs to take into account any ethical or environmental issues.
- Provide a clear conclusion to your work, ensuring it is fully justified by well-balanced arguments and is supported by good use of research evidence.
REMEMBER: ensure you include all source links – provide a bibliography at the end of your work.
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