Unit 1: Exploring Business

Overview:

A business organisation is one that provides goods or services, whether that is to make a profit or not. The common thread in business is that owners and employees are striving to satisfy customers. In today’s world of international business, customers are well-informed and have many options in terms of what they buy and who they buy from, so a successful business is one that balances satisfying their customers with selling products or providing services.

In this unit, you will gain an overview of the key ingredients for business success, how businesses are organised, how they communicate, the characteristics of the environment in which they operate, and how this shapes them and their activities. You will also look at the importance of innovation and enterprise to the success and survival of business organisations, with the associated risks and benefits.

By developing relevant business knowledge and understanding, this unit will help you to progress to employment, vocational training and higher apprenticeships, or higher education.

Learning aims:

In this unit you will meet the following learning aims:

Leaning Aim A: Explore the features of different business organisations and what makes them successful
Learning Aim B: Investigate how businesses are organised
Learning Aim C: Examine the environment in which business organisations operate.