Essay
Unit 1 - Exploring Business P4 P5 P6 M3 D2 D3
- Module
- Unit 1 - Exploring Business
- Institution
- PEARSON (PEARSON)
BTEC LEVEL 2 Unit 1 EXPLORING BUSINESS INCLUDES P4 P5 P6 M3 D2 D3, GRADED D*
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Unit 1: Exploring Business Task 2Task 2: The Effects of the Environment on
a Business
, Unit 1: Exploring Business Task 2
Contents
P4: Internal, External & Competitive environment on an Organisation.................................................4
Introduction.......................................................................................................................................4
External Environment........................................................................................................................4
Political..........................................................................................................................................4
Economic, Fiscal and Monetary Policies........................................................................................4
Social Attitudes..............................................................................................................................5
Technological Change....................................................................................................................5
Environmental Factors...................................................................................................................5
Legal Environment.........................................................................................................................6
Internal Environment.........................................................................................................................6
Corporate Culture..........................................................................................................................6
Corporate Social Responsibility (CSR)............................................................................................6
Competitive Environment..................................................................................................................6
Competition...................................................................................................................................7
Factors Influencing Competitive Advantage..................................................................................7
Benefits & Importance of Establishing & Maintaining a Competitive Edge...................................7
M3: Assess the effects of the business environment on a given business.............................................8
Introduction:..........................................................................................................................................8
Political Environment.........................................................................................................................8
Economic Environment......................................................................................................................9
Social Environment..........................................................................................................................10
Technological Environment.............................................................................................................10
Environmental Environment............................................................................................................10
Legal Environment...........................................................................................................................11
Internal environment includes the following factors:..........................................................................11
Internal Environment - Competition....................................................................................................14
P5: Situational Analysis........................................................................................................................15
Introduction.....................................................................................................................................15
PESTEL (Political, Economic, Social, Technological, Legal & Environmental)....................................15
SWOT (Strengths, Weaknesses, Opportunities & Threats)..............................................................15
5 C’s (Company, Competitors, Customers, Collaborators, Climate).................................................16
Porters Five Forces...........................................................................................................................17
D2: Evaluate the extent to which the business environment affects a given business, using a variety
of situational analysis techniques........................................................................................................19
Introduction.........................................................................................................................................19
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