Qualification Grading Type
- GD1-Understanding the subject
- GD2-Application of knowledge
- GD4-Use of information
- GD5-Communication and presentation
Unit Learning Outcomes
Know about business plans.
Explain the purpose of a business plan.
Outline the relationship between the business plan and business objectives.
Identify key elements of an effective business plan.
Know how to use data to meet business objectives.
Evaluate methods to determine a business’ current market position.
Analyse how market research data can determine a business’ ability to meet current and new market opportunities, including those in the global market place.
Analyse potential business constraints that could impact on business performance.
Understand business strategy and tactics.
Explain the differences between strategy and tactics.
Analyse strategies and tactics used in a business.
Explain the need to continually analyse and compare business strategies and tactics against business objectives.
Understand financial forecasting.
Define financial forecasting.
Explain the role of budgets within a business.
Outline the impact of external funding on strategic financial forecasts and business plans.
Analyse areas of financial risk to a business.
Explain methods of improving financial forecasts and plans
Evaluate different sources of business finance.
Know how a business can expand internationally.
Explain the international business environment in which a selected business operates.
Describe factors that impact on UK businesses operating overseas.
Explain the process of international expansion for a selected aspect of a business.
Propose ways for a UK business to expand internationally.