Overview
Qualification Grading Type
Graded
This unit is expiring
The expiry date of this unit is 31/07/2029.
Unit Learning Outcomes
1.
Know about business plans.
Assessment Criteria
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1.1.
Explain the purpose of a business plan.
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1.2.
Summarise the relationship between the business plan and business objectives.
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1.3.
Recognise key elements of an effective business plan.
2.
Know how to use data to meet business objectives.
Assessment Criteria
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2.1.
Evaluate methods to determine a business’s current market position.
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2.2.
Analyse how market research data can determine a business’s ability to meet current and new market opportunities, including those in the global marketplace.
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2.3.
Analyse potential business constraints that could impact on business performance.
3.
Understand business strategy and tactics.
Assessment Criteria
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3.1.
Explain differences between strategy and tactics.
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3.2.
Analyse strategies and tactics used in a business.
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3.3.
Explain the need to continually analyse and compare business strategies and tactics against business objectives.
4.
Understand financial forecasting.
Assessment Criteria
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4.1.
Describe financial forecasting.
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4.2.
Explain the role of budgets within a business.
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4.3.
Summarise the impact of external funding on strategic financial forecasts and business plans.
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4.4
Analyse areas of financial risk to a business.
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4.5
Explain methods of improving financial forecasts and plans.
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4.6
Evaluate different sources of business finance.
5.
Be able to analyse how a business can expand internationally.
Assessment Criteria
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5.1
Explain the international business environment in which a selected business operates.
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5.2
Describe factors that impact on UK businesses operating overseas.
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5.3
Explain the process of international expansion for a selected aspect of a business.
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5.4
Demonstrate different ways a UK business could expand internationally.