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BUS59 Principles of Business
Outcome 1 Understand business markets
The learner can:1 explain the characteristics of different business markets2 explain the nature of interactions between businesses within a market3 explain how an organisation’s goals may be shaped by the market which it operates4 describe the legal obligations of a business
Outcome 2 Understand business innovation and growth
The learner can:1 define business innovation2 explain the uses of models of business innovation3 identify sources of support and guidance for business innovation4 explain the process of product or service development5 explain the benefits, risks and implications associated with innovation
Outcome 3 Understand financial management
The learner can:1 explain the importance of financial viability for an organisation2 explain the consequences of poor financial management3 explain different financial terminology
Outcome 4 Understand business budgeting
The learner can:1 explain the uses of a budget2 explain how to manage a budget
Outcome 5 Understand sales and marketing
The learner can:1 explain the principles of marketing2 explain a sales process3 explain the features and uses of market research4 explain the value of a brand to an organisation5 explain the relationship between sales and marketing