Southwark College, Bermondsey

Learners should evaluate the impact of changes in the economic environment on a selected business in relation to government decisions, policies, spending and economic management. Learners need to examine the information and draw justified conclusions as to how the business might respond.

Learners are required to analyse the effects of fiscal and monetary policy decisions have on business. The “credit crunch” saw a temporary reduction in VAT and a fall in interest rates to historically low levels designed to stimulate demand. These changes illustrate the impact of fiscal and monetary policy at both a national and local level.

Learners should describe the implications for a selected business of European and global factors. Again, these will very between types of business and over time. However, some developments are long term. European requirements will continue to be incorporated in to UK legal and regulatory frameworks. Global warming will involve a continuing series of initiatives to reduce carbon emissions.

learners must examine fiscal and monetary policies in relation to a chosen business. This will involve analysing the possible impact of changes in the tax regime, as well as interest rate changes, on a selected business’s operations. The range of possibilities is extensive and will vary over time so care will be needed in identifying what is relevant at any one time.

Learners should analyse the impact that government policies have on a selected business and the possible reactions of the business to the decisions. Planning approval for a high speed rail link has allowed the local train operating company to run services that use the same track as Eurostar trains. This requires the train operating company to buy new rolling stock and power cars. New engineering facilities and additional staff training from local providers will be needed and people will move in ...

Learners need to consider the wide range of government policies that impinge on business and select those that have a significant effect on the selected business. The impact of policies will vary between businesses depending on their size, location and type of activity. It makes sense to use the same organisation as used for P1.

D2 requires learners to evaluate the effectiveness of business information and its communication as key contributors to the success of a business organisation. Learners need to use illustrative examples as part of their evaluation and should be encouraged to investigate organisations who have excellent communication and information management systems. Comparisons can then be made with the situation in the organisation that they have studied.

For D1, the learner has to evaluate the appropriateness of information used to make important strategic decisions. They could look at marketing decisions made in an organisation and evaluate whether the information used to make these decisions was appropriate. Similarly, financial performance of the company can lead to strategic decisions being made. The learner should evaluate at least two sets of information which have been used to make strategic decisions.

For P5, learners need to explain the legal and ethical issues relating to the use of business information. Learners can use the same business, organisation or any other organisation, especially if it is difficult to obtain the necessary information. Learners need to try and obtain the business organisation’s policies on ethical issues in relation to business information and explain how that organisation complies with their legal obligations.

For P4 and P5, the chosen contract can then be translated into everyday language. Each learner should use a different contract as this will go some way to ensure authenticity of work. Selected terms will then be considered in the light of the relevant statutory protection. This should be the significant terms of the contract. Learners can have help in identifying the terms to be considered, and the number will vary with the contract chosen. For D1, this requires detailed consideration of a chose...