Unit 1 exploring business
Learning Aim A
This will include a summary of what you need to write to get a top grade in this unit. And how to answer
each criterion which the writ answer. I got a D in this unit. I will be able to help you because when I started
the BTEC courses it was hard for me to understand what should I write.
Learning aim A: Explore the features of different business organisations
and what makes them successful
A1 Features of business organisations
Ownership and liability:
private, e.g. sole trader, partnership, private limited company, public limited company, cooperative, limited
and unlimited liability
public, e.g. government department
not-for-profit, e.g. charitable trust, voluntary.
Moreover, you have to define the Purposes, e.g. supply of products or services, and the difference between
for-profit and not-for-profit business organisations. Sectors: primary, secondary, tertiary, quaternary.
Additionally, you write about the business and where is located for example local, national, and
international. The Size of the business is important to know if the business is small or big: for micro – up to
nine staff, Small and Medium Enterprises (SMEs): small – between 10 and 49 staff, medium – between 50
and 249 staff; large: more than 250 staff. Reasons for success: how these differ depending on the type of
business (profit or non-profit), and its aims and objectives, e.g. clarity of vision, innovative products or
processes.
A2 Stakeholders and their influence
Stakeholders:
internal, e.g. managers, employees, owners
external, e.g. suppliers, lenders, competitors, trade receivables, trade payables, customers, government
agencies and departments (local, national, international), communities (local, national, international),
pressure groups, and interest groups.
The influence of stakeholders on business success, e.g. shareholder value; customers as long-term assets
(strong customer service enables customer loyalty and retention); employee involvement, and corporate
social responsibility (community groups and interest groups). And the Methods of communicating with
stakeholders e.g. written (reports, newsletters, emails, letters, leaflets), verbal (meetings, committees); the
role of technology including social media.
Learning Aim A
This will include a summary of what you need to write to get a top grade in this unit. And how to answer
each criterion which the writ answer. I got a D in this unit. I will be able to help you because when I started
the BTEC courses it was hard for me to understand what should I write.
Learning aim A: Explore the features of different business organisations
and what makes them successful
A1 Features of business organisations
Ownership and liability:
private, e.g. sole trader, partnership, private limited company, public limited company, cooperative, limited
and unlimited liability
public, e.g. government department
not-for-profit, e.g. charitable trust, voluntary.
Moreover, you have to define the Purposes, e.g. supply of products or services, and the difference between
for-profit and not-for-profit business organisations. Sectors: primary, secondary, tertiary, quaternary.
Additionally, you write about the business and where is located for example local, national, and
international. The Size of the business is important to know if the business is small or big: for micro – up to
nine staff, Small and Medium Enterprises (SMEs): small – between 10 and 49 staff, medium – between 50
and 249 staff; large: more than 250 staff. Reasons for success: how these differ depending on the type of
business (profit or non-profit), and its aims and objectives, e.g. clarity of vision, innovative products or
processes.
A2 Stakeholders and their influence
Stakeholders:
internal, e.g. managers, employees, owners
external, e.g. suppliers, lenders, competitors, trade receivables, trade payables, customers, government
agencies and departments (local, national, international), communities (local, national, international),
pressure groups, and interest groups.
The influence of stakeholders on business success, e.g. shareholder value; customers as long-term assets
(strong customer service enables customer loyalty and retention); employee involvement, and corporate
social responsibility (community groups and interest groups). And the Methods of communicating with
stakeholders e.g. written (reports, newsletters, emails, letters, leaflets), verbal (meetings, committees); the
role of technology including social media.
