Premium Essay

Unit 1 M2

In:

Submitted By lgray2
Words 363
Pages 2
M2 – Compare the challenges to selected business activities within a selected organisation, in two different economic environments
GROWTH STRATEGIES
What is economic growth?

"Economic growth is an increase in the output that an economy produces over a period of time, the minimum being two consecutive quarters."
(www.economicsonline.co.uk)

This could be measured by Gross Domestic Product (GDP) or Gross National Product (GNP)
Some reasons for economic growth can include:

Investment in technology
Increased productivity - task analysis and division of labour
Development of new production methods
Increase in the labour force
Discovery of new sources of raw materials
(www.economicsonline.co.uk)
During a period of economic growth, the 'ripple effect' has far-reaching consequences, for example:

Income rises
People have more residual income
Spending increases
Productivity increases
More jobs are created
Business activity grows
The economy grows
In the private sector, a period of economic growth could mean that a business can:

Invest in staff training
Expand the range of products offered
Invest in technology
Employ more staff
Expand the business because more credit is available
Increase profitability and returns to shareholders
In the public sector, a period of economic growth can result in:

Increase the range of services provided
Invest in technology
Enhance the quality of the service provision
Create job opportunities
In the voluntary sector, a period of economic growth can result in:

Increased donations from members of the general public
Increased scope to work in partnership with the business community
Investment in technology
Improved potential to support their cause
A period of economic growth in one of opportunities for the business, such as:

Research and development - new products and services
Investment in

Similar Documents

Premium Essay

Business Btec Level 3 Unit 1 M2

...For this assignment I will compare the challenges to selected business activities within my chosen business in two different economic environments. I will analyse whether national demand and GDP are rising or falling and how they are affecting my chosen business. Recession Recession is a significant decline in economic activity spread across the economy, lasting more than a few months. Recession would impact in Rudding Park Hotel due to the fact of recession effects. During recession, as sales revenues and profits decline, they will cut back on hiring new employees. In an effort to cut costs, they are going to stop buying new equipment and to develop new services. As declining revenues show up the price may decline. Dividends may also slump, or disappear entirely. Shareholders and advertising agency may become upset. Shareholders may call for a new CEO and the advertising agency may be dumped and new agency hired. When the stock falls and the dividends decline or stop, the investors who hold that stock may sell and reinvest the proceeds into better-performing stocks. The customers of the Rudding Park Hotel that owe it money may pay slowly, late or not at all. Then, with reduced revenues, the affected Hotel will pay its own bills more slowly or late. Late payments will reduce the valuation of the corporation's debt and ability to obtain financing. The Hotel's ability to service its debt, may also be impaired, eventuating in defaults other debt, further damaging the Hotel's...

Words: 770 - Pages: 4

Free Essay

Unit Convert

...Length Length | Name of unit | Symbol | Definition | Relation to SI units | angstrom | Å | ≡ 1×10−10 m | ≡ 0.1 nm | astronomical unit | AU | ≈ Distance from Earth to Sun | ≈ 149597871464 m [1] | barleycorn (H) |   | = ⅓ in (see note above about rounding) | ≈ 8.46×10−3 m | bohr, atomic unit of length | a0 | ≡ Bohr radius of hydrogen | ≈ 5.2917720859×10−11 ± 3.6×10−20 m[2] | cable length (imperial) |   | ≡ 608 ft | ≈ 185.3184 m | cable length (International) |   | ≡ 1/10 nmi | ≡ 185.2 m | cable length (US) |   | ≡ 720 ft | = 219.456 m | chain (Gunter's; Surveyor's) | ch | ≡ 66 ft(US) ≡ 4 rods [3] | ≈ 20.11684 m | cubit (H) |   | ≡ Distance from fingers to elbow ≈ 18 in | ≈ 0.5 m | ell (H) | ell | ≡ 45 in [4] (In England usually) | = 1.143 m | fathom | fm | ≡ 6 ft [4] | = 1.8288 m | fermi | fm | ≡ 1×10−15 m[4] | ≡ 1×10−15 m | finger |   | ≡ 7/8 in | = 0.022225 m | finger (cloth) |   | ≡ 4½ in | = 0.1143 m | foot (Benoît) (H) | ft (Ben) | | ≈ 0.304799735 m | foot (Cape) (H) |   | Legally defined as 1.033 English feet in 1859 | ≈ 0.314858 m | foot (Clarke's) (H) | ft (Cla) | | ≈ 0.3047972654 m | foot (Indian) (H) | ft Ind | | ≈ 0.304799514 m | foot (International) | ft | ≡ 1/3 yd ≡ 0.3048 m ≡ 12 inches | ≡ 0.3048 m | foot (Sear's) (H) | ft (Sear) | | ≈ 0.30479947 m | foot (US Survey) | ft (US) | ≡ 1200⁄3937 m [5] | ≈ 0.304800610 m | french; charriere | F | ≡ 1⁄3 mm | = 0.3 ×10−3 m | furlong | fur | ≡ 10 chains = 660 ft = 220 yd [4]...

Words: 2785 - Pages: 12

Premium Essay

Nt1310 Unit 6 Case Study

...CONTENTS 1. Selected rooms location 2. Preliminary analysis for default and assigned building material set 3. Preliminary comparison of performance of the two (2) apartment units 3.1. Alternative 2: Split; mech vent with cooling 4. Preliminary comparison of performance of the two different cooling systems. 5. Appendix – Building performance simulation results spreadsheet. (1) Selected Rooms Location Figure (1): Typical Floor Plan of the apartment and selected units (2) Preliminary analysis for default and assigned building material set HVAC: Split; mech vent with cooling Energy/Carbon simulation Default Alternative 2 230 kW/m2 214 kW/m2 119.39 kgCO2/m2 110.99 kgCO2/m2 Explanation • Based on above-mentioned result, the design energy use in intensity of Alternative 2 was more preferable than Default. • This is because the energy usages difference in between these two mainly depends on the different...

Words: 808 - Pages: 4

Premium Essay

Working Students

...3.1 Meaning of Money 1) Economists find no completely satisfactory way to measure money because A) money supply statistics are a state secret. B) the Federal Reserve does not employ or report different measures of the money supply. C) the "moneyness" or liquidity of an asset is a matter of degree. D) economists find disagreement interesting and refuse to agree for ideological reasons. Answer: C 2) To an economist, ________ is anything that is generally accepted in payment for goods and services or in the repayment of debt. A) wealth B) income C) money D) credit Answer: C 3) Currency includes A) paper money and coins. B) paper money, coins, and checks. C) paper money and checks. D) paper money, coins, checks, and savings deposits. Answer: A 4) The difference between money and income is that A) money is a flow and income is a stock. B) money is a stock and income is a flow. C) there is no differencemoney and income are both stocks. D) there is no differencemoney and income are both flows. Answer: B 5) It is true that A) income and wealth are both stocks. B) money and income are both stocks. C) income is a flow and wealth is a stock. D) money and wealth are both flows. Answer: C 6) An individual's annual salary is her A) money. B) income. C) wealth. D) liabilities. Answer: B 7) A person's house is part of her A) money. B) income. C) liabilities. D) wealth. Answer: D 8) Money is A) anything that is generally accepted in payment for goods and services or in the repayment...

Words: 3739 - Pages: 15

Premium Essay

Mode of Heat Transfer

...temperature gradient in a solid or fluid Conduction will take place if there exist a temperature gradient in a solid (or stationary fluid) medium. Energy is transferred from more energetic to less energetic molecules when neighboring molecules collide. Conductive heat flow occurs in direction of the decreasing temperature since higher temperatures are associated with higher molecular energy. Fourier's Law expressed conductive heat transfer as: q = k A dT / s Where q = heat transfer (W, J/s, Btu/s)A = heat transfer area (m2 , ft2)k =thermal conductivity of the material(W/m.K or W/m℃, Btu/(hroF ft2/ft))dT = temperature difference across the material (K oroC,oF)s = materialism thickness (m, ft) Example of Heat Transfer by Conduction is A plane wall constructed of solid iron with thermal conductivity 70 W/m℃, thickness 50 mm and with surface area1 m by 1 m,temperature150 ℃ on one side and 80 ℃ on the other. Conductive heat transfer can be calculated as: q= (70 W/m℃) (1 m) (1 m) ((150℃) - (80℃)) /(0.05m)=98,000(W)=98(kW) Heat Transfer through Plane Walls In Series Heat conducted through several walls in good thermal contact can be expressed as: q = (T1- Tn) / ((s1/k1A) + (s2/k2A) + ... +...

Words: 1201 - Pages: 5

Premium Essay

Money&Banking

... 2014 | Ch 3 Sheet 3 | Instructor: Hala A. Fares | Tutor: Sarah Mostafa | MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) To an economist, ________ is anything that is generally accepted in payment for goods and services or in the repayment of debt. 1) _______ A) credit B) money C) wealth D) income 2) Money is 2) _______ A) a flow of earnings per unit of time. B) anything that is generally accepted in payment for goods and services or in the repayment of debt. C) always based on a precious metal like gold or silver. D) the total collection of pieces of property that are a store of value. 3) Currency includes 3) _______ A) paper money, coins, checks, and savings deposits. B) paper money and coins. C) paper money and checks. D) paper money, coins, and checks. 4) The total collection of pieces of property that serve to store value is a person's 4) _______ A) wealth. B) money. C) credit. D) income. 5) A person's house is part of her 5) _______ A) money. B) income. C) wealth. D) liabilities. 6) ________ is used to make purchases while ________ is the total collection of pieces of property that serve to store value. 6) _______ A) Money; wealth B) Income; money C) Money; income D) Wealth; income 7) ________ is a flow of earnings per unit of time. 7) _______ A) Money B) Income C) Wealth D) Currency 8) An individual's annual salary is her 8) _______ A) income. B) money. C) liabilities. D) wealth. 9) When we say that...

Words: 3207 - Pages: 13

Premium Essay

Me 3322 Chapter 1

...ME 3322, Thermodynamics I Chapter 1. Getting Started: Introductory Concepts and Definitions Learning Outcome ► Demonstrate understanding of several fundamental concepts, including closed system, control volume, boundary and surroundings, property, state, process, the distinction between extensive and intensive properties, and equilibrium. ► Apply SI and English Engineering units, including units for specific volume, pressure, and temperature. ► Work with the Kelvin, Rankine, Celsius, and Fahrenheit temperature scales. ► Apply the problem-solving methodology used in this book. Defining Systems ► System: whatever we want to study. ► Surroundings: everything external to the system. ► Boundary: distinguishes system from its surroundings. Closed System ► A system that always contains the same matter.  ► No transfer of mass across its boundary can occur. ► Isolated system: special type of closed system that does not interact in any way with its surroundings. Control Volume ► A given region of space through which mass flows. ► Mass may cross the boundary of a control volume. Macroscopic and Microscopic Views ► Systems can be described from the macroscopic and microscopic points of view. ► The microscopic approach aims to characterize by statistical means the average behavior of the particles making up a system and use this information to describe the overall behavior of the system. ► The macroscopic approach describes system behavior in terms of the gross...

Words: 1516 - Pages: 7

Premium Essay

Business Decision Making

...Assignment front sheet Qualification Pearson BTEC Level 5 HND Diploma Business Student name Unit number and title Unit 6: Business Decision Making Assessor name James Kwok Date issued Completion date Submitted on 5th January 2015 16th February 2015 Assignment title BDM: To start-up a upstairs coffee cafe in the city(2 of 2) Learning Outcome Learning outcome Be able to produce information in appropriate formats for decision making in an organisational context Assessment Criteria 3.1 3.2 3.3 3.4 LO3 In this assessment you will have the opportunity to present evidence that shows you are able to: Produce graphs using spreadsheets and draw valid conclusions based on the information derived Create trend lines in spreadsheet graphs to assist in forecasting for specified business information Prepare a business presentation using suitable software and techniques to disseminate information effectively Produce a formal business report Use appropriate information processing tools Prepare a project plan for an activity and determine the critical path Use financial tools for decision making Task Evidence no. (Page no) 3 3 3 3 4 4 4 LO4 Be able to use softwaregenerated information to make decisions in an organisation 4.1 4.2 4.3 Learner declaration I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student signature: Date: In addition to the above PASS criteria, this assignment...

Words: 1570 - Pages: 7

Premium Essay

Heat and Mass

...& MASS TRANSFER LAB MANUAL ENGINEERING SCIENCES DEPARTMENT LAB INSTRUCTIONS 1. No late submissions 2. If you miss the submission time, you will be marked zero in that lab 3. If cheating or plagiarism is observed in the lab report, zero will be marked in that lab. 4. Detailed calculations should be shown. 5. Neat work will earn good marks. 6. Graphs should be made by hands. MS excel graphs will not be accepted. LAB MARKS DISTRIBUTION LAB REPORT/ ATTENDENCE | 50% | LAB PERFORMANCE | 10% | MID TERM ASSESMENT/QUIZES | 10% | FINAL LAB ASSESMENT | 30 % | TOTAL | 100% | TABLE OF CONTENTS S.NO | DATE | OBJECTIVE | PAGE NO | SIGNATURE | 1. | | To show that the intensity of radiation on a surface is inversely proportional to the square of the distance of the surface from the source of radiation | | | 2. | | To show the intensity of radiation various as fourth power of source. | | | 3. | | Determination of barrier temperature gradient between two different metals in end to end pressure contact. | | | 4. | | To perform energy balance on air flowing throw a duct heated by cylindrical rod | | | 5. | | To perform energy balance on air flowing throw a duct heated by cylindrical rod using DAQ | | | 6. | | Determination of a mean surface heat transfer coefficient for tubes in 1 to 16 rows of cross flow heat exchange | | | 7. | | Measurement of heat flux and surface heat...

Words: 4135 - Pages: 17

Free Essay

Math

...Answer all questions: QUESTION 1 (20 Marks) (a) (i) continuous (a2) (ii) discrete (a2) (iii) continuous (a2) (b) (i) (m2, a1) (ii) arrange the data in ascending order 18, 18, 24, 27, 35, 36, 45, 47, 51, 61, 63, 81, 82, 87, 90 (a2) Median is 47 (a1) (iii) x | | (A) | x2 (B) | 24 | 27 | 729 | 576 | 47 | -4 | 16 | 2209 | 90 | 39 | 1521 | 8100 | 61 | 10 | 100 | 3721 | 51 | 0 | 0 | 2601 | 87 | 36 | 1296 | 7569 | 36 | -15 | 225 | 1296 | 35 | -16 | 256 | 1225 | 18 | -33 | 1089 | 324 | 81 | 30 | 900 | 6561 | 82 | 31 | 961 | 6724 | 18 | -33 | 1089 | 324 | 45 | -6 | 36 | 2025 | 63 | 12 | 144 | 3969 | 27 | -24 | 576 | 729 | 765 | - | 8938 | 47953 | (column A 2 marks, m1, a1 ) OR (column B 2 marks, m1, a1) (iv) range = 90 – 18 = 72 (a1) (v) (m2, a1) QUESTION 2 (15 Marks) (a) Index (Feb) = (m1, a1) Index (March) = (a1) Index (April) = (a1) Index (May) = (a1) (b) (i) Size | 2011 | 2012 | | | | | | Price P | Quantity | Price pn | Quantity | | | | | Large | 0.60 | 500 | 0.75 | 600 | 300 | 360 | 375 | 450 | Medium | 0.55 | 700 | 0.60 | 1000 | 385 | 550 | 420 | 600 | Small | 0.40 | 300 | 0.45 | 500 | 120 | 200 | 135 | 225 | | | | Total | 805 | 1110 | 930 | 1275 | (last 4 columns, 1 mark each) (a1) (a1) (ii) Size | Weighting | Po | Pn | Index Relative | Large | 25 | 0.60 | 0.75 | 125 | ...

Words: 523 - Pages: 3

Premium Essay

Business Environment

...Sample Assignment Assignment front sheet Qualification | Unit number and title | Pearson BTEC Level 5 HND Diploma Business | Unit 3: Organisations and Behaviour | Student name | Assessor name | | | Date issued | Completion date | Submitted on | 11th March 2013 | 4th April 2013 | | | | Assignment title | OB1: Culture and Management Style (1 of 3) | ------------------------------------------------- ------------------------------------------------- Learning Outcome | Learning outcome | Assessment Criteria | In this assessment you will have the opportunity to present evidence that shows you are able to: | Task no. | Evidence(Page no) | LO1 | Understand the relationship between organisational structure and culture | 1.1 | Compare and contrast different organisational structures and culture | 1 | | | | 1.2 | Explain how the relationship between an organisation’s structure and culture can impact on the performance of a business | 1 | | LO2 | Understand different approaches to management and leadership | 2.1 | Compare the effectiveness of different leadership styles in different organisations | 2 | | | | 2.2 | Explain how organisational theory underpins the practice of management | 2 | | | | 2.3 | Evaluate the different approaches to management used by different organisations | 2 | | Learner declaration | I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student...

Words: 1745 - Pages: 7

Free Essay

Mode Bill 2012

...Roof Tiling Wood Works Ironmongery Steel and Metal Works Plastering and Paving Plumbing and Water Supply Systems Glazing Painting Landscaping External Works Electrical Installation Air Conditioning Installation Fire Service Installation Low Voltage Cubicle Switchboards Installation Diesel Generating Sets Installation Uninterruptible Power Supply System Broadcast Reception Installation Compressed Air System Steam Boiler System Liquefied Petroleum Gas Installation Fuel Supply System Swimming Pool Water Treatment Installation MODBQ.1/1 MODBQ.2/1 MODBQ.3/1 MODBQ.4/1 MODBQ.5/1 MODBQ.6/1 MODBQ.7/1 MODBQ.8/1 MODBQ.9/1 MODBQ.10/1 MODBQ.11/1 MODBQ.12/1 MODBQ.13/1 MODBQ.14/1 MODBQ.15/1 MODBQ.16/1 MODBQ.17/1 MODBQ.18/1 MODBQ.19/1 MODBQ.20/1 MODBQ.21/1 MODBQ.22/1 MODBQ.23/1 MODBQ.24/1 MODBQ.25/1 MODBQ.26/1 MODBQ.27/1 MODBQ.28/1 MODBQ.29/1 MODBQ.30/1 MODBQ.31/1 MODBQ.32/1 6 22 3 8 4 18 7 12 10 7 3 23 8 22 30 19 5 10 7 19 27 55 30 9 5 4 10 6 10 9 7 14 Bill Nr. MODBQ.1 DEMOLITIONS AND ALTERATIONS DEMOLITIONS Demolishing or taking down to ground level Individual structures A * x * x * high to parapet ; * storeys ; reinforced concrete framed building ; as delineated on drawing nr. * ; shoring and scaffolding ( ACCD) * x * x * high to ridge ; * storeys ; steel framed building ; located at * ; materials remaining the property of Employer ; setting aside and storing materials on site ; shoring and...

Words: 71251 - Pages: 286

Premium Essay

Organisational Behaviour

...Sample Assignment Assignment front sheet Qualification | Unit number and title | Pearson BTEC Level 5 HND Diploma Business | Unit 3: Organisations and Behaviour | Student name | Assessor name | Date issued | Completion date | Submitted on | 11th March 2013 | 4th April 2013 | | Assignment title | OB1: Culture and Management Style (1 of 3) | Learning Outcome | Learning outcome | Assessment Criteria | In this assessment you will have the opportunity to present evidence that shows you are able to: | Task no. | Evidence (Page no) | LO1 | Understand the relationship between organisational structure and culture | 1.1 | Compare and contrast different organisational structures and culture | 1 | | 1.2 | Explain how the relationship between an organisation’s structure and culture can impact on the performance of a business | 1 | | LO2 | Understand different approaches to management and leadership | 2.1 | Compare the effectiveness of different leadership styles in different organisations | 2 | | 2.2 | Explain how organisational theory underpins the practice of management | 2 | | 2.3 | Evaluate the different approaches to management used by different organisations | 2 | | Learner declaration | I certify that the work submitted for this assignment is my own and...

Words: 1747 - Pages: 7

Premium Essay

Miss

...Course Title | BTEC Level 3 Nationals in Business | Unit Title | Unit 2 – Business Resources (60 hour unit) | Level | 3 | Unit Number | 2 | Unit Credit | 10 | Assignment Title | Describing Recruitment documents | Part Unit | P1, P2 & M2 | Whole Unit | n/a | Learner Name | | Signature | | Assessor | Mark Grant | Signature | | Start Date | 22/10/14 | Submission Date | 12/11/14 | Feedback Date | 26/11/14 | | | | | | | Vocational Context | It is important to understand the purpose and format of different types of documents that are used in the recruitment process, as you will be coming across them when you apply for jobs. This assignment will allow you to develop a good understanding of these documents. Additionally you will possibly need to create them if you are involved with recruiting staff during your career. | The Brief | ------------------------------------------------- (P1, P2 and M2) A family friend has been operating his own small fashion clothing business (KH Fashions) that has been trading for five years. He has decided to expand the business and has asked you to research different businesses.------------------------------------------------- He wishes to take on staff from outside the family, and because he wants to do this in a professional way, has asked you specifically to research how human and non-human (such as technological and physical) resources are used within organisations. | Grading Criteria. | Evidence | What...

Words: 454 - Pages: 2

Free Essay

Fundamentals of Heat and Mass Transfer 7th Edition

...This page intentionally left blank SEVENTH EDITION Fundamentals of Heat and Mass Transfer THEODORE L. BERGMAN Department of Mechanical Engineering University of Connecticut ADRIENNE S. LAVINE Mechanical and Aerospace Engineering Department University of California, Los Angeles FRANK P. INCROPERA College of Engineering University of Notre Dame DAVID P. DEWITT School of Mechanical Engineering Purdue University JOHN WILEY & SONS VICE PRESIDENT & PUBLISHER EXECUTIVE EDITOR EDITORIAL ASSISTANT MARKETING MANAGER PRODUCTION MANAGER PRODUCTION EDITOR DESIGNER EXECUTIVE MEDIA EDITOR PRODUCTION MANAGEMENT SERVICES Don Fowley Linda Ratts Renata Marchione Christopher Ruel Dorothy Sinclair Sandra Dumas Wendy Lai Thomas Kulesa MPS Ltd. This book was typeset in 10.5/12 Times Roman by MPS Limited, a Macmillan Company and printed and bound by R. R. Donnelley (Jefferson City). The cover was printed by R. R. Donnelley (Jefferson City). Founded in 1807, John Wiley & Sons, Inc. has been a valued source of knowledge and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Our company is built on a foundation of principles that include responsibility to the communities we serve and where we live and work. In 2008, we launched a Corporate Citizenship Initiative, a global effort to address the environmental, social, economic, and ethical challenges we face in our business. Among the issues we are addressing...

Words: 55208 - Pages: 221