BUSINESS MANAGEMENT
Unit 1: Planning a Business
Area of Study 3: Internal environment
Outcome 3
- describe the internal business environment and analyse how factors from within it may affect business planning.
Key knowledge
- types of legal business structures such as sole trader, partnership, private limited company, public listed company and the factors affecting choice of business structure
Key skills
- research and analyse case studies and current examples of business management applicable to planning a business
- apply business management knowledge to practical and/or simulated business situations
- discuss the decisions made in response to the internal factors that affect a business.
Unit 3: Managing a Business
Area of Study 1: Business foundations
Outcome 1
- discuss the key characteristics of businesses and stakeholders, and analyse the relationship between corporate culture, management styles and management skills.
Key knowledge
- types of businesses including sole traders, partnerships, private limited companies, public listed companies, social enterprises and government business enterprises
Key skills
- interpret, discuss and evaluate business information and ideas
- apply business management knowledge to practical and/or simulated business situations