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Unit 1 - Exploring Business Learning Aim A&B DISTINCTION LEVEL
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  • Unit 1 - Exploring Business
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  • PEARSON (PEARSON)
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  • Pearson BTEC National Business Student Book 1

A distinction-graded BTEC National Business coursework exemplar for BTEC students to use. This coursework has met all criteria and is written on Sony and the RSPCA. This has been uploaded for the use of BTEC students to assist them in their studying and I do not take any liability for the gr...

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  • May 7, 2024
  • 39
  • 2023/2024
  • Other
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  • unit 1
  • exploring business
  • btec business
  • pearson btec national
  • learning aim a and b
  • unit 1 exploring business
  • coursework
  • distinction

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  • PEARSON (PEARSON)
  • Business 2016 NQF
  • Unit 1 - Exploring Business
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UNIT 1:
EXPLORING
BUSINESS

,Table of Contents
Unit 1: Exploring Business.......................................................................................................5
Introduction.......................................................................................................................................5
A1 Features of Businesses........................................................................................................5
P1............................................................................................................................................................................5

Dyson.................................................................................................................................................5
RSPCA.................................................................................................................................................5
Ownership and Liability...........................................................................................................6
Private................................................................................................................................................6
Sole Trader.........................................................................................................................................6
Partnership.........................................................................................................................................6
Private Limited Company (PLC)...........................................................................................................7
Public Limited Company (PLC)............................................................................................................7
Cooperative........................................................................................................................................7
Limited Liability..................................................................................................................................7
Unlimited Liability..............................................................................................................................8
Public..................................................................................................................................................8
Not-for-profit......................................................................................................................................8
Purposes.................................................................................................................................8
Difference between for-profit and not-for-profit businesses..............................................................8
Sectors....................................................................................................................................9
Primary...............................................................................................................................................9
Secondary...........................................................................................................................................9
Tertiary...............................................................................................................................................9
Quaternary.........................................................................................................................................9
Scope of business activities....................................................................................................10
Local.................................................................................................................................................10
National............................................................................................................................................10
International.....................................................................................................................................10
Size of a business...................................................................................................................11
Micro................................................................................................................................................11

1

, Small and Medium enterprises (SMEs).............................................................................................11
Large.................................................................................................................................................11
Reasons for success...............................................................................................................12
Profit................................................................................................................................................12
Non-profit.........................................................................................................................................12
Aims and objectives..........................................................................................................................12
Clarity of vision.................................................................................................................................13
Innovative products or processes.....................................................................................................13
A2 Stakeholders and their influence......................................................................................13
Internal Stakeholders............................................................................................................14
P2..........................................................................................................................................................................14

Employees........................................................................................................................................14
Managers..........................................................................................................................................14
Owners.............................................................................................................................................15
External Stakeholders............................................................................................................15
Suppliers...........................................................................................................................................15
Lenders.............................................................................................................................................16
Competitors......................................................................................................................................16
Debtors and Creditors.......................................................................................................................16
Customers........................................................................................................................................17
Government Agencies and Departments..........................................................................................17
Communities....................................................................................................................................18
Pressure Groups...............................................................................................................................18
Interest groups.................................................................................................................................18
The influence of stakeholders on business success.................................................................18
Customers as long-term assets.........................................................................................................18
Employee involvement.....................................................................................................................18
Corporate social responsibility.........................................................................................................19
A3 Effective business communications...................................................................................19
M1........................................................................................................................................................................19

Appropriate presentation and delivery of information to a given audience...........................19
Written presentations......................................................................................................................20

2

, Oral presentations............................................................................................................................20
Importance of communication to aid business success...........................................................21
B1 Structure and Organisation..............................................................................................22
P3..........................................................................................................................................................................22

Organisational Structure...................................................................................................................22
Hierarchical.......................................................................................................................................22
Flat structure....................................................................................................................................23
Matrix...............................................................................................................................................24
Holocratic.........................................................................................................................................25
M1........................................................................................................................................................................27

Functional/ operational areas...............................................................................................28
Human Resources.............................................................................................................................28
Research and Development..............................................................................................................28
Sales.................................................................................................................................................28
Marketing.........................................................................................................................................28
Purchasing........................................................................................................................................29
Production and Quality.....................................................................................................................29
Finance.............................................................................................................................................29
Customer Service..............................................................................................................................29
IT......................................................................................................................................................30
Administration..................................................................................................................................30
B2 Aims and objectives..........................................................................................................30
Aims of businesses in different sectors.............................................................................................30
Mission.............................................................................................................................................30
Vision................................................................................................................................................31
Values...............................................................................................................................................31
Private..................................................................................................................................31
Making profits..................................................................................................................................31
Profit maximisation..........................................................................................................................31
Breakeven.........................................................................................................................................32
Survival.............................................................................................................................................32
Growth.............................................................................................................................................32

3

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