| Qualification | | Pearson BTEC Level 3 National Extended Certificate in Business |
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| Unit number and title | | Unit 1:Exploring Business |
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| Learning aim(s) (For NQF only) | | C: Examine the environment in which businesses operate D: Examine business markets |
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| Assignment title | | The Effects of the Environment on a Business |
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| Assessor | A Amedume |
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| Vocational Scenario or Context | | You are continuing with your work placement in the Economic Development Unit (EDU) at your local council working with the officers who are responsible for publications, brochures and guides. You have been asked to select and investigate a large business that trades in the European Union (EU) and use this research to write a report that evaluates the effects of the environment on that business. |
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| Task 1 | | The effects of the environment on a business You have been asked to write a report on a large business that trades in the EU. You should research a number of businesses before selecting one to report on. | You will need to look at the environment in which the business operates, and to gather enough information to be able to consider how your chosen business has responded to past changes, and evaluate how it may react to future changes. Your research should include: • The external environment that affects the business to include political, economic, fiscal, monetary and other government policies, social attitudes to saving, spending and debt; social responsibility requirements, technological change, environmental factors and ethical trends and the legal environment • The internal environment to include corporate culture and corporate Social Responsibility (CSR) • The competitive environment to include competition, competitive advantage and the factors that influence competitive advantage • The influences on the chosen business’ demand, supply and price, including elasticity of demand. • The different market structures that the business operates in, their impact on pricing and output decisions and the business’ response to these |
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| Using this research, prepare a report that discusses and assesses the effects of the environment on the business, and how the business has reacted to change. The report should include a situational analysis of the business environment using a variety of techniques such as PESTLE, SWOT, 5Cs analysis, and Porter’s Five Forces. The report will evaluate the extent to which the business has responded to past changes in the market and business environment, and suggest how this business may react to future changes. The report will be logically structured and have a clear conclusion that is fully justified by well-balanced, developed arguments, and is supported by good use of research evidence. |
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| Checklist of evidence required | | Individual report | | Situational analysis Research evidence (HAVE A RESEARCH LOG) |
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| Criteria covered by this task: |
| Unit/Criteria reference | To achieve the criteria you must show that you are able to: |
| 1/C.D2 | | Evaluate the extent to which the business environment affects a given organisation, using a variety of situational analysis techniques |
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| 1/D.D3 | | Evaluate how changes in the market have impacted on a given business and how this business may react to future changes. |
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| 1/C.M3 | | Assess the effects of the business environment on a given organisation. |
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| 1/D.M4 | | Assess how a given business has responded to changes on the market. |
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| 1/C.P4 | | Discuss the internal, external and competitive environment on a given organisation. |
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| 1/C.P5 | | Select a variety of techniques to undertake a situational analysis of a given organisation. |
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| 1/D.P6 | | Explore how the market structure and influences on supply and demand affect the pricing and output decisions for a given business. |
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| Sources of information to support you with this Assignment | | Websites www.bbc.co.uk/news/business/economy The BBC provides news on the UK economy www.businesscasestudies.co.uk The Times 100 has economics and business case studies on topics such as Business Environment, the Economy, Ethics and External Influences. The site also has a selection of theory notes aimed at learners. www.gov.uk The government portal for government departments and policies www.economist.com The Economist online has an archive of articles about the UK economy. A subscription is required but it also includes the weekly editions of the newspaper www.investopedia.com/ Investopedia is an educational website that has many useful articles such as ‘Economics Basics: Supply and Demand’ www.thetimes.co.uk/tto/law The Times provides up-to-date information and cases. This site includes a Student Law area |
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| Other assessment materials attached to this Assignment Brief | eg, work sheets, risk assessments, case study |
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