The three key themes to this unit examine the socio-economic environment, the way in which markets operate and the relationship between business and governments.
The central theme to the unit is the changing roles that exist between business, government and their citizens that create both opportunities and threats for the modern organisation. By understanding the organisational impact of the trends, managers can respond positively to a changing socio-economic environment.
The unit also looks at the external business environment and the different ways that organisations respond to changes.
The aim of the unit is to introduce the learner to a number of dynamic factors that affect how an organisation operates and the change in management that is required. By understanding how relationships between public and private sector organisations are affected by socio-economic factors the learner will be better placed to manage that relationship.
Learning Outcomes and Assessment Criteria
On successful completion of this unit a learner will be able to:
|1. Evaluate and analyse the factors that influence business and the responses that can be deployed to manage these factors.
|1.1 Identify and make use of different approaches to understanding the macro and micro environments for business
|1.2 Review business resources and external factors and trends to identify where business performance could be positively or negatively affected
|1.3 Recommend responses to external factors and trends
|2. Appreciate how an integrated approach to understanding the business context and decision making can support business development.
|2.1 Identify and prioritise organisational changes to individual businesses that would counteract negative or support positive business environmental factors and trends
|2.2 Use case examples to illustrate the impact of responding to business environmental factors and trends
|2.3 Evaluate the role of management in responding to a changing business environment
|3. Investigate the changing relationship between the private and public sector
|3.1 Explain changes in the relationship between business, government and the public sector
|3.2. Use scenarios and models to illustrate changes in relationships
|3.3 Identify opportunities that may arise due to changes in relationships
Responding to the Changing Business Environment