BUSINESS AND THE MARKETING ENVIRONMENT INSTITUTE FOR PROFESSIONAL AND EXECUTIVE DEVELOPMENT United Kingdom UNIT SPECIFICATION www.iped-uk.com 1
Unit Title Business and the Marketing Environment Credit value The credit value for this unit is 30 30 credits equivalent to 300 hours of teaching and learning (10 hours is equivalent to 1 credit) Guided learning hours (GLH) = 50 hours GLH includes lectures, tutorials and supervised study. This may vary to suit the needs and requirements of the learner and/or the approved centre of study. Directed learning = 50 hours: This includes advance reading and preparation, group study, and undertaking research tasks. Self-managed learning = 200 hours: This includes completing assignments and working through the core and additional reading texts. It also includes personal research reading via other physical and/or electronic resources. Assessment methods Written examination under clocked supervised conditions. Maximum 3 hours Examination questions will be practical, application-based and be focused at an operational level. According to the nature of the subject matter, a variety of question styles and approaches will be included in the examination. Questions might be based on case study materials and require a discursive answer, a report or a series of shorter answers. Students will typically be required to explore and compare the technical aspects of an issue or topic or to apply their understanding to, for example, solve a problem or provide a recommended solution. Examination questions will be set, administered, assessed and internally verified by IPED in the United Kingdom by IPED assessors and internal verifiers. Minimum entry requirement(s) Please refer to the statement of entry requirements 2
Methods for teaching and learning Centre based study Lectures: Formal lectures to be provided at and by an approved centre Class discussions: which should include analysis and review of various case studies Group discussions: where students are advised to actively engage and contribute OR Distance learning: Learner studies on his/her own, either at home or at a suitable location reading, watching or listening to material supplied, doing activities and assignments with regular support from an assigned IPED tutor or other appropriate personnel. Guided learning hours to be fulfilled through online communication such as chat forums. Course monitoring and review The module will be regularly reviewed by the Academic Advisory Board (AAB) to ensure that it remains fit for purpose. The work of the tutors and examiners will be closely monitored for the purposes of maintaining standards and for improvement. The IPED Suggestion and Feedback System will be used to collect information from users of the quaification to make informed decision on quality improvement. 3
Grading system [All figures are expressed in percentage (%)] Grade A 90-100 70-89 Distinction Excellent Grade B 60-69 Merit Grade C 50-59 Pass Grade D 40-49 Marginal pass Grade F 39-0 Fail 4
Learning outcome Learner will: 1.0 Understand the nature of business activity Assessment criteria Learner can: 1.1 Explain what is meant by a business 1.2 Examine how businesses are classified according to sector, level of activity and legal structure 1.2.1 Explore the advantages and disadvantages of sole trader, partnership, private limited company and public limited company 2.0 Understand the relationship between business and the economic structure 2.1 Analyse the relationship between a business and its stakeholders (such as consumers, government, employees, investors etc.) 2.2 Differentiate between planned economy, free market economy and mixed economy 2.3 Give an account on the internal economies that may arise as a business grows (e.g. technical economies, financial economies, managerial economies, marketing economies, risk bearing economies, economies of scale) 3.0 Understand the factors that influence the location of an industry 3.1 Examine the key factors that influence the location of businesses 3.2 Examine the regional policies affecting the location of industry (such as enterprise zones, assisted areas, urban aid, office development permits, free ports) 4.0 Understand the nature of the financial environment in which businesses exist 4.1 Discuss the role of financial markets in an economy 4.2 Differentiate between money markets and capital markets 4.3 Distinguish between primary markets and secondary markets 4.4 Discuss the roles played by the stock exchange in the economic 5
life of a country 4.5 Identify and describe some of the world s major stock exchanges 4.6 Describe how a new issue of shares may be placed before the public 4.7 Describe the characteristics of ordinary shares, preference shares and debentures 4.8 Examine the importance of financial intermediaries 4.8.1 Describe the characteristics of the various financial intermediaries such as banks, financial brokers, insurance companies, pension funds, mutual investment funds etc. 5.0 Understand how the external environment of a business influences its operations 5.1 Give an account on PESTLE (Political, Economic, Social, Technological, Legal, Environmental) analysis 5.2 Give an account on SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis 5.3 Evaluate the importance of PESTLE and SWOT analysis to an organization 6.0 Understand how micro environmental forces engage with the management of an organization 6.1 Explain what is meant by micro environment of a business 6.2 Examine the constituents of an organization s micro environment 6.3 Analyse how the constituents of an organization s micro environment influence the execution of its projects 6.4 Analyse the stakeholder role of the local community 6.5 Give an account on the key relationships that exist between suppliers and their customers with respect to reliability of delivery, pricing, product development and marketing support 6
7.0 Understand the implications of business or economic cycles on the management of an organization 7.1 Give an account on the following economic events; recovery, boom, steady growth, recession, stagnation and depression. 7.1.1 Analyse the implications of each of the economic cycles on the management of an organization 7
Recommended learning resources Indicative reading Thompson et al 2005. Strategic Management; Awareness and Change 5th Edition: Thompson Learning, London ISBN 978-1-844480-083-4 Robert Appleby 1994. Modern Business Administration 6th Edition: Pitman Publishing London ISBN 0-273-60282-9 Further reading David Baron 2008. Business and its environment: Pearson Education ISBN: 978-0138005061 Learning Aid A comprehensive IPED study material is available to aid in learning and research of this unit. We supply IPED course materials free of charge. Our study materials, which offer quick learning start, are comprehensive, use simple English, and are easy to read and understand. The contents are so sufficient and self-explanatory; that in majority of cases readers do not require further support; although support is always available when you need it. Please log into the Learning Resource Area (on the IPED-UK website) to access the IPED study material relevant to this unit. If you are a registered learner or organization, your user name and password would have already been provided to you by IPED. 8