Essay
BTEC business Unit 5 Assignment 2 (P5 P6 P7 M3 M4 D2 D3) distinction
- Institution
- PEARSON (PEARSON)
BTEC business Unit 5 Assignment 2 (P5 P6 P7 M3 M4 D2 D3) distinction
[Show more]
1 review
By: farhaanking • 1 year ago
Content preview
3ASSESSMENT RECORD SHEETProgramme BTEC NQF Level 3 Business Learner name Arvin Assili
Assignment 2 – External
Assignment title factors and cultural Assessor name Mr Munawar
differences
Target
Unit no. & title Unit 5: International Business C&D
learning aims
Submission
Issue date
date
First submission / Resubmission
resubmission? date**
Resubmission
authorisation
Date
by Lead Internal
Verifier*
* All resubmissions must be authorised by the Lead Internal Verifier. Only one resubmission is possible per assignment,
providing:
● The learner has met initial deadlines set in the assignment or has met an agreed deadline extension.
● The tutor considers that the learner will be able to provide improved evidence without further guidance.
● Evidence submitted for assessment has been authenticated and accompanied by a signed and dated declaration of
authenticity by the learner.
**Any resubmission evidence must be submitted within 10 working days of receipt of results of assessment.
Target Criteria
criteri achieved? Assessment comments
a (Yes / No)
Explained the external factors that influence a selected business considering trading
P5 Yes
internationally.
Explained how business support systems enable a selected business to trade
P6 Yes
internationally.
P7 Yes Explored the cultural differences affecting international businesses.
Carried out a situational analysis on two countries a selected business may consider
M3 Yes
trading in.
M4 Yes Analysed how cultural differences affect international businesses.
Recommended one country a selected business could target for international trade,
D2 Yes
justifying your decision.
D3 Yes Evaluated the impact of cultural differences on international business.
General comments
I certify that the evidence submitted for this assignment is the learner’s own.
Assessor
The learner has clearly referenced any sources used in the work. I understand
declaration
that false declaration is a form of malpractice.
Assessor signature Date
Learner comments
Learner signature Date
, Unit 5 International business
Assignment 2 External and cultural
differences
I am continuing my work experience placement at the office of a local chamber of commerce. I will
be writing a two-part investigative journal article where part one will be on recommending a country
that a selected business could target and start trade and part two, I will evaluate the impact of
cultural differences on international trade. To do this I will have to gather, analyse and assess a wide
range of research evidence from relevant sources.
P5/M3
One business and two countries
The business I have chosen is BP which is an oil and gas company founded in 1909 by William
Knox D'Arcy and the CEO now is Bernard Looney. BP’s headquarters is in London England.
BP is the world’s sixth largest oil and gas company by their market cap, and they operate in
78 countries worldwide with over 84,000 employees. I have chosen BP as they are a huge
multinational company and one the most successful companies in the world.
The two countries that I have chosen are the US and China as they are two contrasting
countries and have a lot of similarities and differences.
PESTLE
PESTLE is a tool that can be used to analyse the external impacts on a business. It stands for Political,
economic, social, technological, legal and environmental. The political influence is the government
influence of the businesses in that country. The economical factor is the condition of the economy in
the country that they operate in. the social influence is dependent on the people in that country.
The technological impact is the technology in that country that helps the business to improve and
operate. The legal impact is the laws of the country that affect the business and how they operate.
The environmental impact is how the business affects the country’s environment for example
producing waste which has a negative impact or generating and using renewable energy which has
appositive impact. Businesses use a PESTLE analysis so that they can get the external factors that
affect the business and see what the factors do to the business and how they can affect them and it
they have a positive or a negative impact on the business.
, THE US
Political
The USA has a democracy system meaning that the people of the country are the people that vote
for government party that they want to represent them. The country has a presidential election
every 4 years to determine the president of the country and which party leads the country with Joe
Biden winning the 2020 election over Donald Trump to become president of the USA. With Joe Biden
becoming the 46th president of the unites states on the 20 th of January 2021 with him representing
the democratic party. Joe Biden got 81,268,924 votes and 306 electoral votes and Donald Trump got
74,216,154 votes and 232 electoral votes. The US has the second largest democracy in terms of
population in the world with India being the 1 st and Indonesia third, Brazil being fourth, Japan being
fifth, Mexico being sixth and the Philippines being seventh. In 2019 the US had a population of over
328 million which is the world third largest population with China and India above the US with India
having over 1.3 billion and China with over 1.4 billion. The country is made up of 50 states and 6
territories which are American Samoa, District of Columbia, Guam, Northern Mariana island, Puerto
Rico and the US Virgin Islands. The US is a member of the united nations and has close ties
with United Kingdom, India, Canada, Australia, New Zealand, the Philippines, Japan, South
Korea, Israel, France, Italy, Germany, Spain and Poland. The US politics impact BP as the government
of the US is responsible for the rules and laws that are put in place for businesses and as BP is an oil
and gas company and contribute a lot to the global warming which the US government would put
laws into place in order to reduce their contribution to global warming, which would mean BP would
have to produce less oil and they would make less profit as they won’t be selling as much product.
Economical
The US has the largest economy in the world by its GPD with a GDP of $19.4 trillion and China being
second with $12.2 trillion, Japan being third with $4.8 trillion, Germany being fourth with $3.6
trillion, India being fifth $2.65 trillion, the UK being sixth with $2.63 trillion, France being seventh
with $2.5 trillion, Brazil being eighth with $2 trillion, Italy being ninth with $1.9 trillion and Canada
being tenth with. The US holds 24 per cents of the world GDP which makes is an ideal country for
businesses to invest into as they have the best GPD and hold most of the world wealth. The US uses
the US dollar as their currency which is one of the most known and used currencies in the world. The
US has the world’s most technologically advanced economies in the world with multiple huge tech
companies like Apple, Microsoft, amazon, Facebook, Tesla and others. BP’s business activities
support more than 200,000 US jobs and contribute more than $100 billion to the economy. The
company also put the money that they make in the country back into the US. In 2018, BP’s
operations contributed more than $100 billion to the US economy. As the US has the largest
economy in the world it makes it an easy place for businesses to come and invest in as there is a lot
of money in the country and a lot of customers but there are also a lot of competitors.
, Social
The US has a population of around 328.2 million with 76.3% White, 13.4% Black, 5.9% Asian,
2.8% Other/Multiracial, 1.3% Native American and 0.2% Pacific Islander in 2019.The US had a
population growth of 0.5% from 2018 to 2019 and a life expectancy rate of 78 years. In 2009 20.36%
of the US population was 0-14 years, 66.88% 15-64years and 12.76% was 65+. In 2012 the US
population was 19.82% 0-14 years, 66.62% was 15-64 and 13.56% was 65+. In 2015 the US
population was 19.22% 0-14 years, 66.13% was 15-64 and 14.64% was 65+. in 2019 the years
population was 18.55% 0-14 years, 65.42% was 15-64 and 16.21% was 65+. This shows that as the
US is growing the population of over 65 is also growing as the life expectancy in increasing as in 2009
the population for over 65 was 12.67% and in 2019 the population for over 65 was 16.21% meaning
the population for over 65 has increased by 3.54% this has an effect on the country as they are
getting an older population which means that there are more people that are not working and are
retired as they have gone over the age of retirement in the US which is 65, this means that the
younger generations need to pay more tax so that the government is able to help retired people but
as the population of the younger generation is decreasing as in 2009 the US population has 20.36%
people aged between 0 and 14 but in 2019 the population of 0-14 year olds was 18.55% meaning
that there was a 1.81% decrease in the population of people that age. The population of 15-64 is
also decreasing as in 2009 there was 66.88% of the population and in 2019 was 65.42% meaning
there was 1.46% decrease. The US also has a very good school system and health care system which
is not free and expensive for some people which means the population is mostly healthy and
educated. In October 2019 the US had an unemployment rate of 3.6% and this helps BP as it means
most of the nation is working and is paying tax which makes the US a good place for investment as it
has a stable economy and if the BP invests, they will be creating more jobs in the US and helping the
economy.
Technology
The US is one the world most technologically advanced countries with the world’s major tech
companies being based in in the US like Apple, Tesla, Microsoft, Facebook, Amazon, Google and
others which are one of the world’s most successful companies in the world and they all operate
internationally with customers all around the world. The country dominates in the technology
industry with the companies in the country being big leaders in the industry and the rate of
innovation in the country is very rapid and this is due to the country having a good economy and one
of the biggest business and technology centres of the world due to the advancement of the
technology in the country. The country is also known for their use of technology in a lot of different
fields as technology is now used in most industries and fields in the country like teaching,
agriculture, manufacturing, retail and others. Technology has helped the country advance a lot as
they use them in their military and defence systems for example the missile defence system that the
country has, to protect is from other countries that they have a conflict with. There is also a lot of
funding that goes to the technology industry of the country from the government so that they can
stay the leaders of technology in the world, but other countries like China, South Korea, and India
are also starting to improve their technology industry and compete with the US. With the US being
technologically advanced this help BP as they can use the recourses in the US to help the company
produce more products and find new ways of renewable energy. The technology industry will help
BP a lot to be successful in the country, as it will help them manufacture, run and produce different
products. The company is already using technology in the country to help them as they state on their
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Alvin1A. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £15.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78252 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now