Unit 2 btec business studies business resources

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Unit 2 btec business studies business resources

Posted by admin Introduction The main factors that businesses are effected by are political, legal and social factors — these factors can result in reduced profits and reputation decreases for the company.

Unit 2 btec business studies business resources

Below is in detail the three factors and examples of how this can effect businesses. An example of where political changes can effect businesses is minimum wage: This ensures that everybody is paid a fair wage and that poverty can be combatted in the country.

For a business however, the rise in minimum wage would mean that more money would have to be paid out to staff as a requirement. This means that if the company were to employ staff on minimum wage, their rate would have to be increased.

Another example of where political changes would effect a business is with the rise in VAT, or value added tax. Inthe tax was increased from Changes in the economy can sometimes be good for business: This allows for better trade agreements to be made in other countries and for the United Kingdom to increase its GDP and its trade with other countries.

This is great for manufacturing businesses, for example businesses in the construction sector, car manufacturing companies and other such businesses.

Big changes in political factors, for example a change in leadership can also have huge impacts on businesses over coming years: Legal Factors New laws can have a knock-on impact for businesses — as changes in laws must be followed, therefore effecting the majority of businesses.

An example of a law that would have great effects on a large number of UK businesses is an obesity tax — this would be a tax placed onto items of fast food, items with high levels of sugar and items that could lead to obesity and other such medial issues.

An example of a business that would be affected by such a tax is McDonalds — the company would have to pay a tax on almost all of their products, meaning that either profits for the company would have to drop, or the price of products would have to increase: If changes were made to laws and legislation regarding working conditions, all businesses would have to comply with said laws, therefore adding extra cost in some cases to business to improve their working conditions: The consequences of these changes are good for staff but sometimes can harm the company: Social Factors Social changes can effect a business in numerous ways, both positive and negative effects can come of this, as shown in the two sections below.

Positive Changes Social can be a great thing for business: If social coverage for a business is good, positive effects will come for the business from this: An example of where this can happen with social media is twitter: Even if one is not following the business on the website, there are tools to introduce people with certain criteria, for example people that follow technology companies for new tech products, to market tweets and products.

This type of marketing for a business can allow for rapid growth and development, especially when online commerce is involved: Negative Changes An example of a negative change that is a result of social factors is a question of ethics: Primark is a prime example of this: The company however was able to fight back, by paying fair wages to manufacturing staff and to regularly check up on facilities and review processes, to ensure that the company is ethically accepted.

Level 2 BTEC Unit 1 - Business Purposes [Herefordshire & Ludlow College]

Conclusion It can be hard to plan for changes in social, legal and political factors, especially when the decisions made are not a result of the business itself, for example changes to laws and legislations.

One way to combat this is to maximize profits for a business and to retain capital, to ensure that when changes occur the business will be able to pay off new taxes or rises in minimum wage.The BTEC Level 2 Diploma in Business will develop and recognise your skills, knowledge and understanding of business functions, environments and operations in a practical way that is relevant to today’s work environment.

In order for you to achieve the Diploma in Business you are required to accumulate a total of 60 credits. Useful resource with key terms from the unit and ‘steps to success.’ REVISION MAT BTEC NATIONAL BUSINESS STUDIES UNIT 6 The Principles of Management.

BTEC Unit 3 - Baffled Bee

Please leave feedback, thank you!. Level 2 BTEC Unit 1 - Business Purposes Credit value: 5 The aim of this unit is to enable learners to understand the nature of business organisations and the business environment in which they operate. BTEC Business Level 3 Unit 2 Developing A Marketing Campaign alphabetnyc.com Guidance Notes Article Edexcel (Pearsons) Document Link; Introduction to the principles and purposes of Marketing that underpin the creation of a rationale for a marketing campaign.

BTEC Level 2 Business - BTEC Business Unit 2. Questions to help prepare students for the NQF BTEC Business unit 2. Author: John Boyle at Moseley School. Page: 1. teacher sign up forgot? Resources Assignments Students More New assignments. BTEC Level 2 Business. BTEC Business Unit 2. Select students. Finish. BTEC Business Unit 2. BTEC Business. INTRODUCTION TO THE COURSE. INTRODUCTION. The course is currently led by the Business Studies Department, co-ordinated and managed by Mrs Kimberley Lamb (Head of Business Studies and Enterprise) and Mrs Rita Bettles (Second in Business). We are retaining: The ‘near-pass’ unit grade for students who narrowly miss a Pass on externally assessed units-The additional resit of external assessment(s), initially offered for the June series, for future exam series.

We will write a custom sample essay on Btec Business Unit 1 D1 specifically for you for only $ $/page. Order now Business btec level 3 unit 2 P1 ; Type of business, purpose and ownership ; We have essays on the following topics that may be of interest to you. Employment (). Unit 8: Recruitment, Selection and Employment Level: 1 and 2 Unit type: Optional specialist Guided learning hours: 30 Assessment type: Internal Unit introduction The success of any business is largely due to the calibre of the people who work for it.

A business will strive to ensure that it has the right people in the right place at the right.

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