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Business and management

This Business and Management course introduces students to the different types of businesses that exist and their reasons for so doing. It looks at changes that are taking place in selected aspects of the external environment for businesses. Selected internal functions are studied to show how businesses can use resources efficiently and take informed marketing decisions to respond to changes in their environment and fulfil their aims and objectives.

Topics covered

  • Unit One: What is Business? This unit introduces students to the different types of businesses that exist, to the reasons why they operate, to the groups of people who have an interest in businesses and how profits are calculated. This unit provides knowledge and understanding on which later units will build.
  • Unit Two: The Business Environment This unit aims to give students an understanding of some of the key components of the environment in which businesses operate. It focusses on the changes that take place in these elements of the business environment. This provides a basis for further study in later units.
  • Unit Three: Managing Resources This unit looks at the ways in which businesses can seek to manage human and physical resources efficiently in a changing environment. It considers the ways in which businesses measure their efficiency and key actions they can take to improve efficiency.
  • Unit Four: Making effective marketing decisions This unit looks at ways in which businesses can be successful in selling their products in markets. It will consider the importance of understanding customers and markets through market research. It will also examine the importance of using marketing information to help businesses to target particular groups of customers and to understand changes in the business environment. Finally, it will consider a limited range of marketing tactics available to businesses to improve their performance.
  • Unit Five: Choosing Appropriate Strategies This unit looks at the strategies that businesses can use to achieve their aims and objectives in a changing environment. It considers how businesses decide on their strategies, the strategic options that are available and how leadership may impact on implementing strategy.

Learning outcomes

If you complete the course successfully, you should be able to:

  • Describe the different types of businesses that exist and the aims and objectives that they pursue.
  • Identify major changes in the business environment and analyse how these may affect businesses
  • Analyse ways in which businesses pursue their aims and objectives by using resources efficiently and taking informed marketing decisions
  • Discuss how businesses make their choices regarding strategies and the factors that help them to be implemented successfully.

Assessment

Unseen written exam (Two-hour 15 minutes).

Essential reading

  • Surridge, M. and Gillespie, A. (2014) Business. Hodder Education.