Business Economics

You have been working in business for a number of years and are a member of a professional institute for business people. The institute keeps business people up to date with business issues and publishes a monthly magazine containing useful articles for its members. The magazine editor has invited you to contribute an article to the magazine.

Task 1 – Article on ‘Understanding the micro-economic business environment’

Write a magazine article called ‘Understanding the micro-economic business environment’. In the article you must:

· explain the importance of the micro-environment to business organisations

· analyse business objectives and behaviour in an economic context

· assess the impact of market structures on business organisations.

Extension activities:

To gain a merit
grade you must also:

· evaluate the effect of changes in the micro-economic business environment on a specific business organisation you have chosen. This may be an organisation from your own experience or one you have researched.

Task 2 –Speech on ‘Understanding the macro-economic environment in which businesses operate’

The institute members found your article interesting and informative, so the editor has asked you to speak at a forthcoming conference on ‘The macro-economic environment in which businesses operate’. You must prepare and deliver a speech. Alternatively, you may produce a written transcript of the speech. The speech should focus on an:

 ·  explanation of the determinants of national income

  •  ·  explanation of the impact of government policies on an economy
  •  ·  assessment of the impact of the macro-economic environment on business organisations.
  • Extension activities:
  • To gain a merit grade you must also:
  •  ·  evaluate the effect of changes in the macro-economic business environment on a specific business organisation you have chosen. This may be an organisation from your own experience or one you have researched.
  •  To gain a distinction grade you must also:

 ·  evaluate the impact of government policies on a named economy you have chosen, in a period of time you have specified.

Task
3 – Briefing paper for management training day on ‘Understanding the
implications for business organisations of operating in the international
economic environment’

The speech was successful and the feedback from the audience was very positive. One of the attendees is a manager in an organisation operating internationally. He has asked you to participate in a training day with his management team and lead a discussion group. He has asked you to concentrate on the implications for business organisations of operating in the international economic environment. Prepare a briefing paper for circulation to the group before the meeting which:

· analyses features of the international economic environment as they relate to business

· assesses the implications for business organisations of operating in the international economic environment.

Extension activities:

To gain a merit
grade you must also:

· assess the risks
involved for business organisations in operating in the international economic
environment.

To gain a distinction
grade you must also:

· recommend, with justifications, actions a business organisation can take to minimise the risks of operating in an international economic environment.

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