>> Business Management
Part - 1
Identify the purposes of different types of organisations.
There are different types of organisations, they may have different purposes. For example, charity wants to promote well being, Metropolitan Police is a government owned organisation which wants to protect public)
Describe the extent to which an organisation meets the objectives of different stakeholders.
Examples of stakeholders are shareholders, employees, government, and suppliers.
Explain the responsibilities of an organisation and strategies employed to meet them.
An organisation has different responsibilities environmental legislation to protect communities, health and safety legislation to protect employee and customers.
Part - 2
Explain how economic systems attempt to allocate resources effectively.
Guideline: consider how resources are allocated in a command economy (E.g.- North Korea, free enterprise/market economy (e.g. USA) and mixed economy (e.g.- UK)
Consider how pricing or permission or license are used to allocate resources, for example scarce resources are generally expensive, so that less number of people can afford those scarce resources)
Assess the impact of fiscal and monetary policy on business organisations and their activities.
Fiscal policy (e.g.-UK budget) affects how much tax an organisation or individual has to pay. More taxes means less amount to invest, less incentive to expand business.
Monetary policy. If interest rate is high, company pays more interest and make less profit. Raising funds becomes difficult, which affect investment.
Evaluate the impact of competition policy and other regulatory mechanisms on the activities of an organisation of your choice.
consider the impact of one or more of the following policy on an organisation.
• Competition policy/Competition Act 1998/Enterprise Act 2002;
• Competition Commission,
• Office of Fair Trading;
• Directorate General for Competition;
• European Commission;