1.1 identify the category and purpose of the business/organisation

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1.1 identify the category and purpose of the business/organisation

UNIT ONE Business Organisation (15)

Learning outcomes On successful completion of this unit you will: 

Assessment Criteria: Page Number Marker PASS/Review 

LO1 Understand the organisational purposes of businesses

1.1 identify the category and purpose of the business/organisation
1.2 describe the extent to which the business meets the objectives of different stakeholders
1.3 explain the responsibilities of the business and strategies employed to meet them
In relations to business; 

LO2 Understand the nature of the national environment in which businesses operate

2.1 explain how the economic system attempts to allocate resources effectively
2.2 assess the impact of fiscal and monetary policy on the business and its activities
2.3 evaluate the impact of competition policy and other regulatory mechanisms on the activities of the business

LO3 Understand the behaviour of organisations in their market environment

3.1 explain how market structures determine the pricing and output decisions of the business
3.2 illustrate the way in which market forces shape
the business responses using a range of examples
3.3 judge how the business and cultural environments shape the behaviour of the business

LO4 Be able to assess the significance of the global factors that shape national business activities

4.1 discuss the significance of international trade to the business
4.2 analyse the impact of global factors on the business
4.3 evaluate the impact of government policies on the business organisations