2.1 Explain how economic systems attempt to allocate resources effectively
2.2 Assess the impact of fiscal and monetary policy on business organisations and their activities.
2.3 Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organization.
2.4 Identify and apply strategies to find appropriate solutions
Guidelines to achieve:
• 2.1: Briefly describe main economic systems like socialism, state economy, etc. and explain how each economic system attempts to allocate resources (people, raw material, money etc) effectively;
• 2.2: Explain the governmental policies (e.g. monetary, fiscal, social,) explain how the taxation level, interest rate, value of the pound and euro will positively or negatively affect business organization,
• 2.3: Choose any national or international organization and discuss how it is constrained by competition policies e.g. regarding monopolies and by regulations (good examples might be UK supermarket chains or airport operators)
• 2.4: Analyse the economic system and governmental policies of the UAE and evaluate how does the UAE attempts to allocate resources effectively.
3.1 Explain how market structures determine the pricing and output decisions of businesses
3.2 Illustrate the way in which market forces shape organizational responses using a range of examples.
3.3 Judge how the business and cultural environments shape the behaviour of a selected organization
3.4 Select and apply appropriate methods to different market types
3.5 Use critical reflection to evaluate own work and justify valid conclusions
Guidelines to achieve:
• 3.1: Describe different market structures (perfect competition, monopoly, monopolistic competition, etc.) and describe how they affect pricing, distribution, product and service offering (good example is where there is a substantial competition, many suppliers and range of products and services for customers to choose from, another example is where there are few providers, little competition but high demand)
• 3.2: Discuss the market forces like, demand and supply, pricing decisions, customer expectations, market conditions, competition etc. and explain how the organizations need to respond to or react to those market factors ( for examples: supermarkets offering many more old brands, or low cost products )
• 3.3: Select any national or international business organization and describe how it changes its behavior with changes in the external environment for example in conditions of recession, demographic change, etc. you can also consider if the organization changes over and see how it would respond to cultural differences
• 3.4: Analyse the market structures prevailing in the UAE in the Aviation Industry.
• 3.5: Realistic improvements should be proposed for effective government policies and allocation of resources against defined characteristics for the success of the UAE economy based on the analysis done in the Merit work.
4.1 Discuss the significance of International Trade to UK business organisations
4.2 Analyse the impact of global factors on UK business organizations
4.3 Evaluate the impact of policies of the European Union on UK business organizations
4.4 Present and communicate appropriate findings
4.5 Demonstrate convergent/lateral/creative thinking
Guidelines to achieve:
• 4.1: Describe the importance of International Trade and reasons of going international. You need to look at import as a mean to satisfy business raw material needs and customers needs but more importantly you must look at export and consider how much the UK earn from this and how critical it is for the UK economy
• 4.2: Research and discuss the negative and positive impact of global factors (PESTEL) on UK business organizations . you could look on the negative effect on the euro problems, consider factors such as shortage of raw materials, metal, food, etc. or growing demand from developing countries for products and services
• 4.3: Discuss the developments of European Union and European Monetary Union; Describe at least two EU policies (working conditions, welfare, and freedom of labour movement) and look on the positive and / or negative effects these might have on UK businesses.
• 4.4: Analyze the implications of European Union policies on a selected UK based business organization (using any two EU policies).
• 4.5: Assess the current situation of EU and EMU and express your critical thinking on the decision of the UK to not be a part of the EMU policy.
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