Introduction

Business activity is fundamental and universal to our everyday lives. Business organisations may differ in many ways, depending on the industry in which they operate globally, but they do share one common feature: the transformation of inputs into outputs. This transformation process takes place against a background of external influences that impact on business activity. The external environment in which business organisations operate is dynamic, complex, volatile and interactive.

The aim of this unit is to give students background knowledge and understanding of business, of the functions of an organisation and of the wider business environments in which organisations operate. Students will examine the different types of organisations (including for profit and not for profit), their size and scope (for instance micro, SME, transnational and global) and how they operate. Students will explore the relationships that organisations have with their various stakeholders and how the wider external environments influence and shape business decision making.

The knowledge, understanding and skill sets that students gain in this unit will help them to have an insight into different business functions, which will support them with further study, support the development of analytical thinking and the application of key analytical tools used throughout business planning, and enable them to choose their preferred areas of specialism in future studies and in their professional career.

Learning Outcomes

By the end of this unit a student will be able to:

LO1 Explain the different types, size and scope of organisations

LO2 Demonstrate the interrelationship of the various functions within an organisation and how they link to organisational structure

LO3 Use contemporary examples to demonstrate both the positive and negative

influence/impact the macro environment has on business operations

LO4 Determine the internal strengths and weaknesses of specific businesses and their interrelationship with external macro factors.