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BTEC Business Unit 1, Business Environment P5 (Describe the influence of two contrasting economic environments on busienss activities within a selected organisation)
BTEC Business Extended Diploma
Unit 1: Business Environment P5
This is the complete version of the coursework assignment, which has already been marked and approved by a teacher.
P1 P2 P3 P4 P5 P6 M1 M2 M3 D1 D2
(Describe the influence of two contrasting economic environments on busienss activiti...
Unit -1 (The Business
Environment)
BTEC National Diploma In Business Level 3
The Date
Author: Your Name
Your Teacher
1
,Unit 1: The Business Environment P5
Unit 1 – Business Environment
On completion of this unit I should:
1) Know the rage of different businesses and their ownership
2) Understand how businesses are organised to achieve their purposes
3) Know the impact of the economic environment on businesses
4) Know how political, legal and social factors impact on business
Task 7:
a) Describe the influence of two contrasting economic environments on business
activities within a selected organisation.
“Business on your doorstep” plans to produce an article which looks at how two different
economic environments affect the business activities of selected business organisations. You
can use one of the organisations from your initial article and compare it with an organisation
operating in another country. Or use one organisation that operates in different business
environments. Your editor suggests contrasting the impact of growth and recession perhaps
by looking at China or India in contrast to the UK.
● Define the terms: Economic Environment, Business Cycle, Growth and Recession.
● Describe what happens to business in (i) a recession and (ii) a period of growth.
● Draw up a table of economic data for the UK and one other, contrasting, economic
environment. Choose at least three economic topics and collect relevant data from two
different countries, e.g. GDP, inflation, interest rates, unemployment rates, balance of
payments, public debt, availability/cost of finance.
● Using the data collected in your table describe the influence of two contrasting economic
environments (i.e. the economic data collected) on business activities within your selected
organisations. (Tesco are in Asia for example, Rolls Royce trade all over the world too.)
2
, Unit 1: The Business Environment P5
Economic Environments
Economic environment – is totality of economic factors that have effects on the work of a
business. It includes: employment income, inflation, interest rates, productivity, and wealth
that influence the buying behaviour of consumers and institutions.
Economic activity in the UK is measured via Gross Domestic Product (GDP).
GDP (Gross Domestic Product) – is the value of all goods and services produced in the UK
each year.
The business cycle shows the changes in economic activity (GDP) over time. The business
cycle consists of four stages: boom, recession, slump and growth (recovery).
Boom – is the transition of a business cycle from a recovery and a recession. At the peak
economy reaches the highest level of production in recent times.
Recession – it is a general slowdown in economic activity
Slump – is a persistent and severe recession.
Recovery (Growth) – is a period of time when economy starts to experience renewed growth
after a recession.
3
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