Strategic Management and Business

Topics: Management, Strategic management, Economics Pages: 3 (943 words) Published: October 12, 2014
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 to put together an information pack to help students understand the business world and have asked you to put certain parts of the pack together. Task 1
P1 – Describe the type of business, purpose and ownership of two contrasting businesses. [RL] To complete this you must investigate two businesses that are very different to each other. You must present the findings of your investigating in a manner appropriate to the scenario. For each of the two businesses you must describe and explain: The type of business it is in...
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