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The Business Environment Assignment: An In-Depth Analysis of Business Structures, Functions, and Economic Influences
| University | London College of Professional Studies ( LCPS) |
| Subject | The Business Environment |
LEVEL 3 DIPLOMA IN BUSINESS MANAGEMENT
Unit Aims
The aim of this unit is to provide learners with an understanding of the concept of a business environment. Learners will develop an awareness of different types of business sectors and forms as well as different business functions. Additionally, learners will be able to gain an understanding of the internal and external environments of a business, where micro and macro-economic factors have a significant influence on business activity. This will enable learners to effectively assess a business’ internal and external environments.
Learning Outcomes and Assessment Criteria
| Learning Outcome – The learner will: | Assessment Criteria – The learner can: | ||||
| 1. Understand different types of business and the sectors they operate in. | 1.1 Explain different types of business activity. 1.2 Explain different business sectors. 1.3 Compare different forms of business ownership. | ||||
| 2. Know about the functional areas of a business. | 2.1 State the functional areas of a business. 2.2 Describe the activities of a business’ functional areas. 2.3 Explain how different functional areas are interrelated.
| ||||
| 3. Understand the internal environment of a business. | 3.1 Explain different organisation structures. 3.2 Compare the advantages of different organisation structures. 3.3 Compare the disadvantages of different organisation structures. 3.4 Show how an organisation is structured. 3.5 Conduct a SWOT analysis on a business.
| ||||
| 4. Understand the external environment of a business. | 4.1 State the factors which form a business’ external environment. 4.2 Explain how these factors impact a business. 4.3 Explain how a business can respond to changes in its external environment. 4.4 Conduct a PESTLE analysis on a business. | ||||
| 5. Know about a business’ economic environment. | 5.1 Outline how different microeconomic factors impact a business. 5.2 Outline how different macroeconomic factors impact a business. 5.3 Explain why a national government influences a business’ economic environment. 5.4 Explain how the international economy influences a business’ economic environment. | ||||
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Assignment Brief
Task 1 of 5 – Assessment Criteria 1.1, 1.2 and 1.3 are assessed in this task
Instructions
a. In no more than 100 words, explain what is meant by the following terms;
- primary business activities
- secondary business activities
- tertiary business activities.
b. In no more than 100 words, explain what is meant by the following terms;
- private sector
- public sector
- third sector.
c. (i) Produce a two column table which;
- lists the features of businesses which operate as a;
○ sole trader
○ partnership
○ private limited company
○ public limited company.
(ii) Write a 300 word essay which explains the key differences between the features of these business formats.
Task 2 of 5 – Assessment Criteria 2.1, 2.2 and 2.3 are assessed in this task
Instructions
a. Produce a two column table which;
- lists at list five different functional areas of a business you are familiar with and
- in no more than 150 words, describes the activities of each of the functional areas.
b. Write a 400 word report which explains how these functional areas interact with each other.
Task 3 of 5 – Assessment Criteria 3.1, 3.2, 3.3, 3.4 and 3.5 are assessed in this task
Instructions
a. In no more than 100 words, explain what is meant by the following terms;
- functional structure
- divisional structure
- flat structure
- matrix structure.
b. (i) Produce a three column table which;
- lists the advantages of each type of structure and
- lists the disadvantages of each type of structure.
(ii) Write a 200 word essay which explains the key differences between the advantages and dis-advantages of each structure.
c. Produce an organisational structure chart for a business you are familiar with.
d. Conduct a SWOT analysis on the same business.
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Task 4 of 5 – Assessment Criteria 4.1, 4.2, 4.3 and 4.4 are assessed in this task
Instructions
a. Produce a three column table which;
- lists the generic factors that form the external business environment
- in no more than 150 words, explains how each of these factors impact businesses and
- in no more than 150 words, explains how a business could respond when these factors change.
b. Conduct a PESTLE analysis on the same business used in task 3.
Task 5 of 5 – Assessment Criteria 5.1, 5.2, 5.3 and 5.4 are assessed in this task
Instructions
a. Produce a two column table which;
- lists at least five microeconomic factors which affect businesses and
- give an example of how each of these factors impacts the same business from tasks 3 and 4.
b. Produce a two column table which;
- lists at least five macroeconomic factors which affect businesses and
- give an example of how each of these factors impacts the same business from tasks 3 and 4.
c. Write a 200 word essay which explains why your national government would want to have an influence on the economics of the business environment in your
d. Write a 200 word essay which explains how the international economy influences the economics of the business environment in your
Note: To achieve a ‘pass’ for this unit, learners must provide evidence to demonstrate that they have fulfilled all the learning outcomes and meet the standards specified by all assessment criteria.
| Learning Outcomes to be met | Assessment criteria to be covered | Type of assessment | Word count (approx. length) |
| All 1 to 5 | All AC under LO1 to LO5 | Portfolio of evidence | 3000 words |
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