BTEC HND Unit 38: Business and the Economic Environment

  

Centre Name
Qualification	Pearson BTEC Level 3 National Diploma in Business
Unit number and title	Unit 38: Business and the Economic Environment
Learner Name
Assessor Name	XXXXXXXXXXX
Date issued		Completion date		Submitted on

 

Assignment Title

Business and the Economic Environment

 

Assessment criteria to be assessed in this assignment

Criteria Reference	To achieve the criteria the evidence must show that the learner is able to:	Task No.	Page No.
P1	Explain the effects, of changes in the economic environment on a selected business	1.1
P2	Identify how government policies impact on a selected business	1.2
P3	Identify the impact of government spending on a selected business	1.3
P4	Explain how both fiscal and monetary policy decisions have affected a selected business	1.6
P5	Describe the impact of international factors on a selected business	1.9
M1	Analyse the implications of government policies for a selected business	1.4
M2	Analyse the effects of fiscal and monetary policies for a selected business in terms of the market it operates in	1.7
M3	Assess the impact of changes in the global and European business environment on a selected business	1.10
D1	Evaluate the impact of changes in the economic environment on a selected business	1.5
D2	Suggest and justify elements of fiscal and monetary policies that would help a selected business achieve its objectives	1.8
Learner Declaration
I, ................................................................... hereby confirm that this assignment is my own work and not copied or plagiarised. It has not previously been submitted as part of any assessment for this qualification. All the sources, from which information has been obtained for this assignment, have been referenced. I further confirm that I have read and understood New London Educational Trust rules and regulations about plagiarism and copying and agree to be bound by them.
Learner Signature:                                                           Date:

ASSIGNMENT BRIEF – 2023/23

 

Unit number and title	Unit 38: Business and the Economic Environment
Qualification	Pearson BTEC Level 3 National Diploma in Business
Start date
Deadline/Hand-in
Assessor	xxxxxxxx

 

Assignment title	Business and the Economic Environment
In all parts of this assignment you will be required to refer to the scenario provided. In order to be successful it is important that you read the scenario and the grading tips before you attend to complete these tasks.
Learning Outcomes On completion of this assignment learners should: LO 1 Understand the impact on businesses of changes in the economic environment LO 2 Know how government spending impacts on businesses LO 3 Understand fiscal and monetary policies and the effects on spending LO 4 Know how the international economy affects UK businesses and competition
Assessment criteria to be assessed in this assignment PASS MERIT DISTINCTION P1 P2 P3 P4 P5 M1 M2 M3 D1 D2 √ √ √ √ √ √ √ √ √ √
Scenario You recently joined “The Business Today” magazine as a Junior Researcher. You have been asked to investigate how the economic environment has affected the Businesses. The editor of the magazine has given you the freedom to select a company in your choice. You will be expected to produce a thorough report in which you conduct extensive research and demonstrate that you have gained understanding of how businesses are affected by the economic environment. You will need to make particular reference to how changes in the economic environment affect the selected company, and how government policy and spending also affects it.
Task 1.1 (Assessment Criteria: P1) ·       Explain the effects of changes in the economic environment on your selected business. Grading tip: Make sure that you choose an appropriate business for this task. You should know the business well or have the access to published data. You can use this business throughout your assessed work.
Task 1.2 (Assessment Criteria: P2) ·       Identify how government policies impact on your selected business. Grading tip: You are expected to investigate a wide range of government policies and their impact on your selected business, so you will need to carry out a significant amount of research. You may find it helpful to go back through the headings in this unit and identify which policies have had the biggest impact on your chosen business.
Task 1.3 (Assessment Criteria: P3) ·       Identify the impact of government spending on your selected business. Grading tip: You will need to consider the impact of spending at a local, national and European level, including any affects on aggregate demand and the economy as a whole. You will need to explain the multiplier effect in the context of your business by tracing the knock-on effects of changes in demand and how these affect output, purchasing, overheads and growth.
Task 1.4 (Assessment Criteria: M1) ·       Analyse the implications of government policies for your selected business. Grading tip: You should focus on implications of government policies on your selected business.
Task 1.5 (Assessment Criteria: D1)   ·       Evaluate the impact of changes in the economic environment on your selected business.   Grading tip: Focus on the impact of changes in the economic environment on your selected business.
Scenario The editor was impressed with your work. Now he wants you to research and provide a report on how fiscal and monetary policy decisions have affected your chosen business.
Task 1.6 (Assessment Criteria: P4) ·       Explain how both fiscal and monitory policy decisions have affected your selected business. Grading tip: In your explanation of fiscal policy make sure you include all the possible types of taxation that affect your selected business, including all the different types of direct and indirect taxation. To fully develop your explanation of how monetary policy decisions have affected your business, you should consider the effects of rising and falling interest rates, the CPI measurement of inflation and the effect of exchange rates, if these are relevant to your business.
Task 1.7 (Assessment Criteria: M2) ·       Analyse the effects of fiscal and monetary policies for your selected business in terms of the market it operates in. Grading tip: In this task you should look at the pros and cons of fiscal and monetary policies and
Task 1.8  (Assessment Criteria: D2) ·       Suggest and justify elements of fiscal and monetary policies that would help your selected business to achieve its objectives. Grading tip: Look at P4 and M2 carefully before make any suggestions or justifications.
Scenario For the final part of the report, you have been asked to consider the impact of international factors on your selected business. You should, therefore, review all of the information and activities you have covered so far.
Task 1.9  (Assessment Criteria: P5) ·       Describe the impact of international factors on your selected business. Grading tip: As you have worked through the final section of the report, you have learned about many of the different international factors that affect UK businesses. To ensure that you give a full description of these factors and their impacts on your selected business, make sure that you include as many different topic headings in your work as you can in your work.
Task 1.10  (Assessment Criteria: M3) ·       Assess the impact of changes in the global and European business environment on your selected business. Grading tip: In order to properly assess the impact of changes in the global and European business environment on your chosen business, you should consider the many different pressures on UK businesses from things like global warming and the increasing influence of BRIC economies. Consider the ways that you chosen business has been affected by pressures outside of their control and also how they have exploited opportunities that have become available.
Sources of information Textbooks Gillespie A – Business in Action (Hodder Arnold, 2002) ISBN 0340848200 Marcouse I et al – Business Case Studies, 2nd Revised Edition (Hodder Arnold, 2003) ISBN-10 0340811102 Sawyer M – The UK Economy, 16th Revised Edition (OUP Oxford, 2000) ISBN-10 0199266514 Whitaker’s Almanack 2009 141st Revised Edition (A & C Black Publishers Ltd) ISBN-10 1408104229 Journals Business sections of broadsheet newspapers. The Economist The Financial Times Websites www.bized.co.uk                                       Business studies resources for teachers and students www.britishchambers.org.uk                      The British Chambers of Commerce site for exporting www.businesslink.gov.uk                          The Business Link site for importing and exporting www.direct.gov.uk                                      Follow the links to information for businesses which then                                                                 has links to specific information at the Department for                                                                       Business and Regulatory reform(BERR) europa.eu is the                                                                 website of the European Union news.bbc.co.uk/1/hi/country _profiles/       Provides up to date country profiles default.stm  www.thetimes100.co.uk                             Business studies resources for teachers and students
Guidelines for completion   This assignment will involve you in considerable research through the tasks, accessing relevant information and planning out your answers.   Produce work that meets the assessment criteria given for each assignment brief   Use the checklist to ensure you have completed all tasks and show where the evidence is for each assessment criteria   Use the standard business report format. ·       A standard citation and Harvard referencing system is required.   Complete the assignment front page and sign the statement of authenticity. ·       You may use course notes, articles, textbooks, internet, and any additional paper-based material to facilitate completion of this assignment.   Personal observation of company operations is evidently crucial to this research, for example taking close note of recent events and how each organisation has performed.   Manage and organise own time to complete all tasks and submit work by the deadline.   Late work will only be marked on the next occasion the unit is taught in. If the unit does not run again then you will need to pay a late assessment fee in line with the requirements of the college’s assessment policy.