Explain how economic systems attempt to allocate resources effectively.

BUSINESS ENVIRONMENT

Organisational purposes of businesses and the impact of national environment on businesses

Learning Outcome

LO1: Understand the organisational purposes of businesses

P 1.1 Identify the purposes of different types of organisation.

P 1.2 Describe the extent to which an organisation meets the objectives of different stakeholders.

P 1.3 Explain the responsibilities of an organisation and strategies employed to meet them.

LO2: Understand the nature of the national environment in which business operate

P 2.1 Explain how economic systems attempt to allocate resources effectively.

P 2.2 Assess the impact of fiscal and monetary policy on business organisations and their activities.

P 2.3 Evaluate the impact of competition policy and other regulatory mechanisms on the activities of an organisation.

Identify and apply strategies to find appropriate solutions

Ensure that an effective approach to study and research has been applied while

Proposing the type of organisation for the venture

Assess the impact of fiscal and monetary policies on the proposed venture

Evaluate the impact of competition policy and other regulatory mechanisms

Select/design and apply appropriate methods/techniques

Ensure range of sources of information has been used while:

Describe the extent to which an organisation meets the objectives of different stakeholders

Assessing the impact of fiscal and monetary policy on business organisations and their activities

Present and communicate appropriate findings

Ensure that appropriate structure and approach has been used while:

Identify the purposes of different types of organisation

Evaluate the impact of competition policy and other regulatory mechanisms on the activities of an organisation

Use critical reflection to evaluate own work and justify valid conclusions

Self-criticism of approach has taken place while:

Assess impact of fiscal and monetary policy on business organisations and their activities

Evaluate the impact of competition policy and other regulatory mechanisms

Take responsibility for managing and organising activities

Ensure that substantial activities, projects or investigations have been planned, managed and organised for:

Assessing the impact of fiscal and monetary policy on business organisation and their activities

Evaluating the impact of competition policy and other regulatory mechanisms

Demonstrate convergent/lateral/creative thinking

Self evaluation has taken place while:

Describe the extent to which an organisation meets the objectives of different stakeholders

Explain how economic systems attempt to allocate resources effectively

Evaluate the impact of competition policy and other regulatory mechanisms

The purpose of this assignment is to Understand:

Different objectives of various types of organization and their responsibilities

Allocation of resources in different economic systems

Fiscal and monetary policies

Impact of regulatory mechanisms on the business activities.