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Business Activity

Learning Outcomes 

At the end of this Unit students will be able to

Demonstrate understanding of business activity in adding value and helping
to satisfy the needs of customers in a changing competitive environment.
• Understand the purpose of business activity
• Understand the concept of adding value
• Understand the concepts of needs, wants and scarcity
Explain the purpose of business activity in terms of the objects of non-profit making activity, private enterprise and public enterprise.
• Demonstrate an awareness that different business activities pursue different goals
• Understand the reasons for the existence of these different goals



Describe and classify business activity in terms of primary, secondary and tertiary sectors
• Understand the basis of the classification
• Use examples to demonstrate understanding
Demonstrate an awareness of the changes that have taken place in these sectors within own country
• Identify the key features of the structure of their own national economy [business activities]


Show knowledge of the methods and problems of measuring the size of business units
• Show understanding of the different methods of measuring the size of business units, e.g. number of employees, capital employed
• Show awareness of the problems of using the different methods
Why businesses grow and expand, problems connected to this and how they might be overcome
• Understand the different ways by which a business can grow
• Explain reasons why businesses seek to grow
• Describe the problems connected with the growth of a business


Demonstrate an awareness of the impact that business activity may have on the environment
• Use examples to illustrate concepts such as pollution and global warming
• Understand some of the issues with regards to ‘sustainable development’
• Show awareness of the possible impact of business development upon depletion of natural resources
Show understanding of the changing importance of these categories within their own national economy, in terms of employment and contribution to national wealth
• Show awareness of the structure and importance of different sectors in your own national economy
• Illustrate such changes with reference to appropriate examples


Demonstrate an understanding that businesses can have several objectives – and the importance of these can change
• Understand the need for objectives in business
• Identify the importance of businesses having objectives
• Demonstrate understanding of different objectives such as growth, profitability and market share


State and explain the role of the different groups involved in business activity and their objectives; consumers, employees, managers, owners, financiers and shareholders
• Identify, describe and explain the objectives of different stakeholder groups
• Use examples to illustrate such objectives


Demonstrate an awareness of the aims and objectives of enterprises in both private and public sectors
• Describe and explain the different objectives of organisations in the different sectors in an economy

 

 

 
  • Revision notes ( 16 Articles )
  • Revision quizzes ( 30 Articles )

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