Explain two macro- economic factors that your chosen business will need to consider and the influences these could have on its business outputs (macro-economic factors e.g., economic output, unemployment rates, inflation)

Module Number: BMP4003

Module Name: Business Environment

Year/Trimester: 2021-22/Semester 2

Module Tutor/s:

Learning Outcomes Assessed:

LO3: Demonstrate an ability to investigate and explain how economic factors can affect business activities.

LO4: Explain challenges facing business in a global economy.

Assessment Brief:

Sir Richard Branson is the founder of Virgin Group which owns a number of businesses ranging from Virgin Atlantic airlines to Virgin media. Sir Richard Branson is well known for the growth and success of his businesses, however due to the global pandemic the founder is in need for cash to keep all its businesses floating. The British government has brought out a range of measures that can help businesses during this difficult time. Sir Richard Branson has asked you to prepare a business report that he can present to his board of directors and shareholders on the level of influence that macro-economic activity can have on one of his business during this pandemic. Explain two macro- economic factors that your chosen business will need to consider and the influences these could have on its business outputs (macro-economic factors e.g., economic output, unemployment rates, inflation. You will need to refer to one business that is part of the Virgin Group like Virgin Atlantic airlines, Virgin Holiday, Virgin media.

Assessment Details 

You are required to write an individual business report, your report should cover an investigation into the following related to macro-economic activity and factors.

1. Explain two macro- economic factors that your chosen business will need to consider and the influences these could have on its business outputs (macro-economic factors e.g., economic output, unemployment rates, inflation,).
2. How will the UK current growth rate impact on your chosen business (give reference to economic life cycle, GDP, inflation, unemployment rate)
3. How can the government current intervention methods affect your chosen business? (e.g., fiscal and monetary policies, furlough scheme etc).
4. What are the current global challenges facing your chosen business with recommendations on how to overcome them in this current time?

You must choose one of the businesses that belong to the Virgin Group and refer to the same business throughout the report. You may use graphs, diagrams and tables, were you feel necessary. LO3: Demonstrate an ability to investigate and explain how economic factors can affect business activities.

Assessment Preparation and Submission:

See section 12 of the module guide for Guidelines on the Preparation and Submission of Assignments.

Additional Submission Instructions:

You are required to submit a soft copy via “Turn-it-in UK” on the module Moodle page. The software will allow you to check your work against other material on the internet. It will also compare your work against other students work.

You will be able to upload drafts of your written work into turn-it-in as many times as you wish before the deadline.

You will not be able to overwrite the final submission after the deadline. You can only submit a single file.

Advice:

• Do not cut and paste phrases or paragraphs from published sources. You should seek to use your own words to explain concepts and theory.

• If you wish to refer to specific quotes from published sources, then you must use full Harvard presentation.
• Do not share work with other students.

Specific Assessment Criteria: (See Page 3 for General Assessment Criteria)

Excellent (70+%): A thorough investigation of how economic factors can affect business activities linking with given business scenario. An excellent explanation of challenges facing by businesses in a global economy is provided. Justified conclusion is drawn. Excellent use of various academic sources and application to theory is evident.   

Very Good (60-69%): A detailed investigation of how economic factors can affect business activities linking with given business scenario. A very good explanation of challenges facing by businesses in a global economy is provided. Draw valid conclusions. A very good use of various academic sources and application to theory is evident. LO3: Demonstrate an ability to investigate and explain how economic factors can affect business activities.

Good (50-69%): A clear description of economic factors that can affect business activities linking with given business scenario. Good understanding of challenges facing by businesses in a global economy is shown. Draw good conclusions. Good use of various academic sources and application to theory is evident.   

Satisfactory (40-49%):  A satisfactory description of economic factors that can affect business activities linking with given business scenario. Some understanding of challenges facing by businesses in a global economy is shown. Satisfactory use of various academic sources and application to theory is evident. Limited use of resources and application of theory is satisfactory. 

Unsatisfactory (1-39%): Students who do not meet the requirements of a pass grade will not successfully complete the assessment activity. Explain two macro- economic factors that your chosen business will need to consider and the influences these could have on its business outputs (macro-economic factors e.g., economic output, unemployment rates, inflation