Unit 1 Economic Systems in Business Environment

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Unit Name: Unit 1 Economic Systems in Business Environment

Task 1
Understand the organisational purposes of business

1.1 Identify the purposes of different types of organizations
1.2 Describe the extent to which an organization needs the objective of different stakeholders
1.3 Explain the responsibilities of an organization and strategies employed to meet them

Task 2
Understand the nature of the national environment in which businesses operate:
2.1 Explain how economic systems attempt to allocate resources
2.2 Assess the impact of fiscal and monetary policy on business organizations and their activities
2.3 Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organization

Task 3
Understand the behaviour of organization in their market environment

3.1 Explain how market structure determine the pricing and output decisions of business
3.2 Illustrate the way in which market forces shape organizational responses using a range of examples
3.3 Judge how the business and cultural environment shape the behavior of selected organization

Task 4
Be able to assess the significance of the global factors that shape national business activities

4.1 Discuss the significance of international trade to UK business organization
4.2 Analyze the impact of global forces on UK business organizations
4.3 Evaluate the impact of policies of the European Union on UK business organization

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