Unit 1 The Business Environment

In this unit you will develop an understanding of how and why businesses operate in the way they do. You will look at a range of different types of business and business structures, and explore how the ownership of a business and its objectives are interrelated.

You will learn about the importance of different functions within a business and how they work together. You will understand the legal, financial, ethical and resource constraints under which a business must operate and how these can affect business behaviour. You will explore ways in which businesses respond to changes in their economic, social and technological environment, and the necessity for a business to plan.

You will appreciate the influence different stakeholders can have on a business, and you will learn how to assess business performance.

Sample Exam Paper