Reference no: EM133878286 , Length: 10 minutes video

Understanding Business Environment

Learning Outcome 1: Explain how modern businesses operate and how they respond to different challenges.

Learning Outcome 2: Design conceptual models to make sense of the environment in which business operate.

Learning Outcome 3: Evaluate the impact of governments and their role in responding to varying domestic and global challenges.

Learning Outcome 4: Apply digital literacy to navigate practical situations in a modern business environment.

Assessment Brief

Overview

Following on from your Assessment 2, you have been asked to attend and present a pre-recorded persuasive video presentation at the upcoming Executive Planning Day within the organisation where you have recently secured work.

You will be required to prepare a suitable video presentation, create an event resource material piece targeted towards your audience and prepare a potential communication post promoting your involvement at the event.

The purpose of this assessment task is for you to get a better understanding of how the networking process occurs in practice within the business environment as well as the importance of academic rigour and the scientific method in supporting how you present and communicate ideas verbally.

Key with this assessment task is the ability you demonstrate in being able to translate technical work and complex ideas in an understandable way to a non-technical audience. Beng able to communicate in an effective and persuasive manner is vital to helping managers as well as other stakeholders navigate problems faced in the real world. This is an incredibly important skill that employers care about and want their new recruits to be able to demonstrate.

This individual assessment task is the third part of your (3) three-part assessment journey.

Length: Video presentation: 10 mins. Supporting resource: A4 page or equivalent. Communication piece: Various depending on platform choice.

Assessment Details
You did a terrific job following instructions from your manager in the preparation of your first project (Assessment 2). You have been invited to attend the up-coming Executive Planning Day and present findings that will inform the organisations Executive about the business environment. To do this you've been asked to present your latest findings in a prerecorded persuasive video presentation.

Task 1 - Project plan

You are required to set up a project plan that outlines all the assessment tasks in the lead up to an Executive Planning Day. Within the organisation you have recently been employed, following on from the success of your hypothetical job application in Assessment 1 (congratulations!), your manager has tasked you to prepare some business documentation. In this first Task you need to set up a project plan that summarises steps or actions in order to deliver each of the tasks. Importantly you need to include a timeline to ensure you remain on track to deliver the business materials in advance of the planning day so that your manager can have sufficient time to review them ahead of the planning day.

Your project plan should outline all the tasks in order of completion. You will need to allocate a timeline with achievable deadlines when you are completing each of the tasks. This is necessary to keep progress on track.

Task 2 - Preparing a literature review focused on academic articles

Climate change has implications not only for the environment in the natural world, but also for the business environment. Despite growing scientific consensus about the effects of climate change it remains a socially and politically charged issue. You are required to think about the effects of climate change and how this impacts the organisation you now work for. While some organisations may be directly impacted by climate change, for other organisations the effects may be more indirect.

You are required to research, find, and choose four (4) of the latest articles discussing "the effects of climate change on the economy". Please only focus on academic articles based on reliable research published by reputable outlets or scholarly journals. To assist you in this task use Google Scholar to search for suitable articles and as a further criterion, only select articles published within the past decade. When citing and referencing the selected articles please use the RMIT Harvard referencing styleand add your articles to the References at the end of the document.

For this task first provide an overall summary about what the four (4) articles find. Also use the opening introductory paragraph of your answer to Task 2 to explain what criteria you used to pick the four (4) articles.

Finally, for each article provide a brief explanation as to why you think it is of relevance in understanding how climate change impacts the business environment in the context of the organisation you work for. Excluding the references to the source articles you cite the answer to Task 2 should not exceed 250 words.(Tip: Remember the Internet is full of information - some of the information can be trusted and relied upon but also there is an increasing abundance of misinformation and disinformation that is more dubious. Being able to discern the difference between high quality and low-quality sources to identify reliable information is very important so be sure to use good judgement in selecting each of the articles.)

Task 3 - Summarise findings

Carefully read the article referenced below. After reading the article summarise the article's key findings.
Additionally, informed by the article, what advice or recommendation would you suggest that the Executive leaders within your organisation consider in light of the upcoming Planning Day. Remember the Planning Day will assist leaders in your organisation with the task of developing the organisations next Strategic Plan so awareness about key issues within the business environment is vital.
Consider whether the article by Tol aligns with views expressed in the articles you summarised in Task 2 and comment on whether the article remains valid.

Article:
Tol, R.S.J., 2009. The economic effects of climate change. Journal of Economic Perspectives, 23(2), pp.29-51.

Task 4 - Demand, Supply & Taxes

Assume that recently the government has announced it will introduce a tax on carbon emissions produced by firms in Australia.

a) Using the demand and supply model show in the first instance, what the effect of the new tax on carbon emissions would mean for the organisation you now work for. Address part a) using a single diagram only.

b) Based on the diagram in a) that should show any initial effects stemming from the tax change, you must also outline assumptions you make in using the demand and supply model you have prepared in part a).

c) Discuss how the imposition of a carbon tax impacts incentives within the economy more broadly (beyond how it impacts your organization). In your answer address how a change in incentives can impact the economic behaviour of firms. The written answer to c) should be approximately 100 words.

d) Now, instead of a change to carbon tax, consider instead a change in fuel excise tax whereby this is lowered. Prepare a demand and supply model diagram showing the effect of this from the perspective of the firm (or industry it is part of) including identifying any change to deadweight loss as a result of the tax change. Briefly discuss and analyse the effects of the reduction in fuel excise tax from the perspective of the organisation you now work for. In your analysis explain what deadweight loss means and address whether it would be impacted (or not) as a result of the change to the fuel excise tax. The written part of the answer to d) should be approximately 100 words.

Task 5 - Costs of production

From the perspective of the organisation you are now working for address a) and b):

a) Identify three (3) key factors that contribute significantly to the costs of production for the organisation you work for and discuss factors that have contributed to changes in these in recent years.

b) Discuss how explicit costs and implicit costs differ from each other. In addressing the difference also consider what insight comes from understanding economic profit and how this differs from accounting profit.

Address part c) only from the perspective of a small business operating in Australia (i.e. this may not be the employer you are now hypothetically working for):

c) While there has been a lot of media attention recently on cost-of-living pressures for households, small business has also been facing escalating costs of production in recent years with many small businesses closing or shutting down. Discuss what happens when a small business is not able to cover all of its costs in the short run.

Task 6 - Client profit

For Task 6 only all students are to assume they are employed by a firm manufacturing new generation batteries that are able to store electric energy more efficiently and as result require less time charging.

From the perspective of the battery manufacturer explain how the introduction of a carbon tax would impact the battery manufacturer over the short to medium term? With reference to profit maximization, explain how the new carbon tax would likely impact the firms prices, quantity, and costs. Be sure to include the equation for profit maximization in your answer and discuss its implications in light of the scenario presented in the task. Please provide your answer in approximately 150 words.

Task 7 - Explain the concept of negative externalities

From the reading in Task 3 Tol (2009:29) states: "Climate change is the mother of all externalities: larger, more complex, and more uncertain than any other environmental problem." In no more than 75 words address the following:

a) Briefly explain the concept of negative externalities. Looking for last-minute assignment help? Grab it now!
b) Express whether you agree (or not) with this statement by Tol and explain why or why not.