Exam (elaborations)
BTEC Level 3 Business Unit 7: Business Decision Making - Structure for Activity 1 Report
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BTEC Level 3 Business Unit 7: Business Decision Making -Structure for Activity 1 Report
1. Introduction
The introduction should provide a concise overview of the business and the two
options being considered. Begin by briefly outlining the business's background as
provided in the case study, including any relevant history or current market position.
Then, introduce the two options that the business must choose between, setting the
context for the analysis that follows. Explain briefly how these options could impact
the business, highlighting the importance of making the right decision. This section
should be about one paragraph long, giving the reader a clear understanding of what
the report will cover. Additionally, mention any specific goals the business aims to
achieve through this decision-making process, as this will guide the analysis and
conclusions later in the report. Including references to any key objectives or
challenges that the business is facing will help set the stage for the more detailed
analysis that follows.
2. Market Data Analysis
In this section, you should summarize and analyse key market data from the case
study that is relevant to the decision-making process. Highlight important trends or
patterns that could influence which option is better for the business, such as shifts in
consumer behaviour, competitor activities, or economic conditions. Ensure that the
data analysis is applied to both options, showing how the information could be used
by the business owner to make an informed decision. Discuss the relevance of the
market data in relation to the business’s target audience and market segment. This
will help in identifying the most appropriate course of action by understanding how
external factors could impact each option. Also, consider how the market data might
predict future trends that could influence the long-term success of the chosen option.
It’s also beneficial to compare the data against industry benchmarks or past
performance to provide a clearer picture of the business’s position within its market
environment.
3. Implications for Resources
This section requires a detailed examination of the resource implications for each
option. Discuss financial resources by evaluating costs, funding options, and
financial viability, considering both immediate and long-term financial impacts. For
human resources, consider staffing needs, training requirements, and employee
motivation, including whether existing staff can meet the needs or if new hires are
necessary. Analyse the need for physical resources like equipment, technology, and
premises, and assess the time required to implement each option, considering
potential delays or challenges. Provide a paragraph for each resource type, ensuring
that the implications are thoroughly explored for both options. Additionally, consider
how these resource implications align with the business’s strategic goals and
whether they support sustainable growth. Discuss potential risks or constraints
related to resource availability and how they could affect the implementation of each
option. By assessing the alignment between resources and business objectives, you
can demonstrate a comprehensive understanding of the operational and strategic
needs involved in decision-making.
4. Financial Forecasting
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