Pearson BTEC • Business

This assignment analyses personal development needed to run the business successfully and assesses the implications of legal and financial aspects that will affect the start-up of a business.

Describes the economic growth of world markets (e.g. BRICS and MINT), the growing power of Asian, African and other countries, implications of economic growth for individuals and businesses, and indicators of growth

Describes exports and imports, specialisation and competitive advantage, foreign direct investment (FDI) and business growth, globalisation, and trade liberalisation

Describes the different types of protectionism (e.g. tariffs and quotas) and how they impact businesses in the home country and businesses wanting to export to the country with the protectionism. Also explains trading blocs (e.g. Free Trade Areas) and how they impact businesses.

Explains conditions that prompt trade (e.g. push factors, extending the product lifecycle by selling in multiple markets, etc.) and the key considerations when considering a country as a market or production location

Explains the reasons for global mergers and joint ventures, e.g. spreading risk over different countries or securing resources and supplies

Explains how multinational corporations are able to be more competitive, competitive advantage, Porter's Generic Strategy, and movements in exchange rate and how this affects competitive advantage

Explains global marketing strategy, different marketing approaches, adapting the marketing mix to global markets, niche markets, and social/cultural factors.

Explains the impact of MNCs on the local and national economy, ethics and morals, stakeholder conflicts, and the benefits and drawbacks of controlling MNCs

Describes missions statements (the advantages and criticisms of them), corporate objectives, aims, corporate strategy, types of functional areas and their objectives, and the development of corporate objectives