...Subsidiary Diploma in Business BTEC Level 3 Diploma in Business Year 12 BTEC Level 3 Subsidiary Diploma in Business BTEC Level 3 Diploma in Business Unit 1- The Business Environment Unit 1- The Business Environment | Student name | ------------------------------------------------- Assessor name | | | Date issued | Completion date | Submitted on | 5th September 2013 | 29th November 2013 | 2nd December 2013 | Qualification | Unit number and title (Credit Value) | BTEC Level 3 Subsidiary Diploma in BusinessBTEC Level 3 Diploma in Business | Unit 1- The Business Environment Credit Value- 10 | | | Assignment title | | The aim of this unit is to give learners the fundamental knowledge of a range of business organisations, and the many factors that shape the nature of organisations operating in an increasingly complex business world. | | Assignment title | | The purpose of this assignment is to: 1. Know the range of different businesses and their ownership 2. Understand how businesses are organised to achieve their purposes 3. Know the impact of the economic environment on businesses 4. Know how political, legal and social factors impact on business. | ScenarioYou work for the Chamber of Commerce as a Business Adviser and have been asked to visit businesses in the local area to outline to them the variety of businesses which exist and to explain to them the factors which can impact businesses. | ...
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...3 - the impact of the economic environment on business How economic environment affects different businesses Content The economic environment consists of External factors in a business' market and the broader economy that can influence a business. You can divide the economic environment into: • The microeconomic environment - which affects business decision making - such as individual actions of firms and consumers(Market size, Demand, Supply, Competitors, Suppliers and Distribution chain, such as retailer stores) • The macroeconomic environment - which affects an entire economy and all of its participants. Many economic factors act as external constraints on your business, which means that you have little, if any, control over them (Interest rates, Taxes, Inflation, Currency exchange rates, Consumer discretionary income, Savings rates, Consumer confidence levels, Unemployment rate, Recession and Depression) • Describe at least two economic environment micro or macro. • Comparison of two contrasting economic environment - challenges business face • Describe how political factors impact on business activities during an economic environment(recession) i.e. recruitment of staff • social factors impact on business activities i.e. ethics( the business social responsibility policy) and suppliers and distribution chain • and legal factors impact on business activities i.e. employment law during recruitment of staff • Compare and contrast the political and social...
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...Marketing Environment Analysis for India We would see on what is the marketing Environment analysis with the PESTAL ANALYSIS, which stands for Political, Economic, Social, Technological, Legal and Environment, all areas affecting a business. * POLITICAL: The capital market of India is very vulnerable. This is because of its democracy way and also the extremely unbalanced growth and rampant corruption. India has been politically instable in the past but it is a little politically stable nowadays. The political instability of the country has a very strong impact on the capital market. The share market of India changes as the political changes took place. This is clearly seen in the Hindus and Muslims crisis between 2003 and 2004. The capital market of India is too weak and is based on speculations. The political stability of the country is very important for the stability and growth of capital market in India. The political imbalance or balance of the country is the major factor in deciding the capital market of India. The political factors include: 1. employment laws 2. tax policy 3. trade restrictions and tariffs 4. political stability * ECONOMICAL: The economical measures taken by the government of India has a very strong relationship with the capital market. Whenever the annual budget is announced the capital market goes up and down with the economical policies of the government .If the policies are supportive to the companies then the...
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... | | |Qualification |Unit number and title | |BTEC SUBSIDIARY DIPLOMA IN BUSINESS STUDIES |UNIT 1: BUSINESS ENVIRONMENT | |Learner name | Assessor name | | | | |Date issued | Hand in deadline |Submitted on | | | | | | | | |Assignment title(s) |Legal and organisational structures | | |Stakeholders and their influence...
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...Assignment 6 There are different factors which effect Morrison’s and Tesco. Even though they are both supermarkets, Morrison’s is a national business and Tesco is International, which means that they have different ways in which there business will work as the different laws and government. Morrison’s political factors that will affect their business activity is the tax rate in the UK, the UK tax rate changes all the time, and as the tax increases it means that the income will decrease, even though when tax increases, Morrison’s could raise the prices of their products that would mean that customers would not want to pay for the products, especially considering if the tax rate increased. The government policies in the UK will have to be considered, and Morrison’s would have to run so that the policies apply to their business, for example they follow the procedures for safe food. As Morrison’s are national, and are only based in the UK it means that there is only 1 government that they have to follow to, so the number of policies will be much less and this means that it will much a lot easier to be able to follow the legal policies. However as the tax increases, the income then decreases, this will affect the business by Morrison’s wouldn’t be able to raise their prices by much because customers will be affected by their own taxes so won’t want to pay more for products they originally thought they could afford, so the number of customers will decrease if taxes increase and the...
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...l Business Environment |Unit 1 | |Learner Name: |Date issued: | | |Learner Reg. No. : |Date due for return: | | |Teacher: |Mr O Henry |Date submitted: | | |Email: |o.henry@stthomasmoreschool.org.uk | | | Learning outcomes On completion of this unit a learner should: • Know the range of different businesses and their ownership • Understand how businesses are organized to achieve their purposes. • Know the impact of the economic environment on businesses. • Know how political, legal and social factors impact on business. Unit content 1 Know the range of different businesses and their ownership Range of different businesses: local; national; international; global; public; private; not-for-profit/voluntary; sectors of business activity (primary, secondary and tertiary) Business purposes: supply of products or services; difference between profit and not-for profit organisations Ownership: public...
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...discusses the business activities of your global organisation. You are to report on the following issues in a way that is easy for them to understand. • Describe how the main political, legal and social factors effect the business activities and the stakeholders of the organisations described in P3 & P4. (Drayton Manor and your chosen Charity). Business activities should include any activities carried out by the organisation to achieve its purposes. Describe how political, legal and social factors are impacting upon the business activities of the selected organisations and their stakeholders (P6) • Select at least three business activities from those you identified. • Analyse how each of these has changed because of political, legal and social aspects of the business environment. (Why has the activity changed and how and why has this affected the organisation?) Analyse how political, legal and social factors have impacted on the two contrasting organisations (M3) Make a list of your selected organisations aims and objectives. Evaluate how future changes in economic political, legal and social factors, may affect the strategy of the organisation. Evaluate how future changes in economic, political, legal and social factors may affect the strategy of your organisation. For each factor you will need to research future changes. (E.g. economic – inflation; new laws; government changes; social change) For each aim and objective you have identified...
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...BTEC LEVEL 3 Unit 1 THE BUSINESS ENVIRONMENT ASSIGNMENT ONE Within this unit you will consider the different types of businesses and sectors, their strategic plans and consider their main stakeholders. In the second half, you will be considering the impact of external influences (political, legal and social) on businesses. Scenario: You are a junior journalist working for the Business Review. You have been asked to write an article for prospective businessmen and women thinking of setting up a new business. Most businessmen and women you have spoken to are not sure about the legal ownerships and activities of businesses generally. They also feel they require more information regarding how some local, national, international and global businesses operate. You should research two organisations; one should be a not-for-profit organisation and the other a for-profit organisation. (For-profit organisation should be McDonalds; you must now select a not-for-profit organisation of your choice). P1: describe the type of business purpose and ownership of two contrasting businesses. Here you will need to include all the information outlined below: 1. TYPE OF BUSINESS BY SECTOR The type of business in terms of: * Geographical scope (local, national, international or global) * Sector (primary, secondary, tertiary) * Type of goods/services offered 2. TYPE OF OWNERSHIP * Describe the different types of ownerships (Public/private sector; sole...
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...P6 - Describe how political, legal and social factors are impacting upon the business activities of the selected organisations and their stakeholders All businesses and corporations will face external factors that impact the business activities and stakeholders of a business. These factors of changes can be political, legal, and social within the business environment. Politics is a process by which groups of people make collective decisions. These decisions can affect businesses as well as the working economy. For example, a new legislation or a regulatory change of policies from the government will affect business activities. Social factors relate to changes in the behaviour, tastes and lifestyles of communities on a local, national and international scale. In a business, it is important for the marketing department to take account of the various social characteristics of the consumer groups for their target market. Legal factors relate to the laws, regulations and legislations which affect the way a business functions. For example, common law for business balance prohibits paying a little and getting a lot. I will describe how political, social factors impact upon Tesco and Bank of China. Political factors of Tesco Tesco have political factors that affect their business activities. For example, political stability for the national economy in this case the government such as the government make decisions in the best interests of the people and should support businesses....
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...BTEC Level 3 in Business – Unit 1 – The Business Environment Context Think of a business as a ship on the high seas. The captain and crew of the ship are steering the ship on its journey but the ship is also affected by other influences such as the weather, tides and currents. The captain and crew have no control over these but they must be able to respond effectively to the intervention of events such as a storm in order for the ship to successfully complete its voyage. Just like a ship has to respond to the influences of its environment (the ocean) a business must also react to a number of factors that will be beyond its control. These can come from hugely varied sources, from the weather to a war on the other side of the world. The economy and government attempts to control it are more obvious influences on business activities but how each business will be affected are vastly different. During this unit you will investigate the differences in businesses; how they are run organised and influenced. Why certain businesses are organised in different ways and which individuals and organisations are interested in the progress of different businesses. By the end of this unit you should understand: • The range of different businesses and their ownership. • How businesses are organised to achieve their purposes. • The impact of the economic environment on business. • How political, legal and social factors impact on a business. Scenario A bank wants...
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... |3rd December 2012 |3rd December 2012 | |Qualification |Unit number and title | | | | |BTEC Level 3 National Subsidiary Diploma in Business |Unit 1: The Business Environment | | | | |Assignment title |Similar Businesses in Different Worlds | |In this assessment you will have opportunities to provide evidence against the following...
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...The Macro Environment factors are: 1) Demographic Environment 2) Economic Structural Environment 3) Technological Environment 4) Political Environment MACRO-ENVIRONMENTAL FACTORS A business and its forces in its micro environment operate in larger macro environment of forces that shape opportunities and pose threats to the business. It refers the major external and uncontrollable factors that influence an organization's decision making, and affect its performance and strategies. These factors include the economic factors; demographics; legal, political, and social conditions; technological changes; and natural forces. The important environmental factors are; (1) Economic Environment (2) Political and Governmental Environment (3) Socio-cultural Environment (4) Natural Environment (5) Demographic Environment (6) Technological Environment (7) International Environment. 1. Economic Environment: - Economic environment of business has reference to the board characteristics of the economic system in which the business operates. The business sector has economic relation with the government, capital market; household sector and global sector. These sectors together influence the trends and structure of the economy. The form and functioning of the economy vary widely. The importance external factors that affect the economic environment of a business are; (i) Economic Conditions: - The general Economic conditions prevailing in the country viz. national income, per capita...
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...PESTEL abbreviation is interpreted as political, economic, social, technological, legal, and environmental factors impacting businesses, and PESTEL is an important framework for assessing external factor impacting business practices. POLITICAL FACTORS Political stability is the key to the success of any industries and it is applicable to hotel industry as well and it needs to cope with political situations everywhere in the world. The political approaches can influence the number visitors, both, tourists and business travellers’ visits to a nation. It may a concern for many people those who are visiting Northern Ireland because of the ongoing very delicate political situation. Moreover, Hilton’s performance is directly affected by consumer protection and employment laws in UK, as well as, the nature of competitive regulation, and risks of military invasion in the country. ECONOMIC FACTORS National macroeconomic situation and factors and events impacting the situation are major factors affecting Hilton Hotels & Resorts business in the UK. For example, during the Olympic times in the UK most of the hotels were occupied and booked fully for the whole period. However, the situation was completely different once the Olympic Games were over. Additional economic factors that affect Hilton may include the extent of expected and real economic growth in the UK, national taxation policies, and seasonality and weather problems. SOCIAL FACTORS The Hilton brand is very well known...
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...Global Business Strategy Plan Outline * Team Members * Overview * Executive Summary * Country Factors * Political and Legal * Economic * Cultural * Competition and Market Opportunity * SWOT Analysis * Business Objectives * Strategic Thrust * Tactics * Measurement of Results * Executive Summary * Introduce your product and region. * What specific market are you targeting and what revenues do you hope to achieve? * How will you achieve success? * What are the key country factors that impact (positively and negatively) success of your entry? * Why is this opportunity important for your company? * Country Factors: Political and Legal * Describe the political and legal system in your target country. * What are the major trends? * What is the local government’s attitude to foreign business? How is the government involved in business activity? * What are the risks and opportunities to your business given the political and legal climate? * Country Factors: Economic * Describe the economic system in your target country. * What are the major trends? * How is the local economy performing on the world scene and how might this affect you? * What are the risks and opportunities to your business given the economic climate? * Country Factors: Cultural * Describe the major cultural issues in your target country: * Language * Religion ...
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...The Impact of Political, Legal and Social Factors on Two Businesses All businesses in the world have to obey to the political, social and legal factors that are within the world. These factors can have both a negative and positive effect on the business. The businesses I will be concentrating on is Toys ‘R’ Us and National Health Service. Toys ‘R’ Us Political Factors Political factors that affect businesses include new legislation such as the national minimum wage and setting tax rates such as VAT or Corporation Tax. Most business operators will keep a watchful eye on any political factor, such as new laws or regulatory shifts, which could have a substantial impact on how their company operates. Politics can affect a business in many different ways. For example grants, taxation and support. All these can change the outcomes of the business. They can affect profit, customers and revenues. Taxation can affect every business in the world including Toys ‘R’ Us. Taxes are collected by national government and local government. Taxation helps the government ti raise revenue and also enables it to discourage various activities and to encourage others. This can include many things such as: cigarettes to discourage smoking or high fuel composition cars to discourage pollution. In March of every year, the government release information about the changes of taxation. Toys ‘R’ Us have to discuss if they are going to make their products more expensive in order to cover lost profit. If not...
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