EBWO3001- Effectiveness in the Business World
Added on 2020-04-15
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Autumn 2017 First-sit PortfolioEffectiveness in the Business World(EBWO3001)Student Name: Student Number: Lecturer Name: EBWO3001 | Effectiveness in Business World1Assessed Learning Outcomes:1.Demonstrate an understanding of the concept of the organisation and the environment in which it operates, including determining the competitive advantage for an organisation.2.Identify and analyse organisational operations, responsibilities 3.Discuss the needs of the consumer and people who work in a business.4.Recognise a range of issues related to business and how they interlink. 5.
As a requirement for the completion of this portfolio, you should first decide on a type of business you have or would potentially like to start up in the future (e.g. restaurant, shop, service etc.). Your answers to the tasks below will relate to this business.WeekContents (350-400 words per task)PageLearningoutcomesWeek 2-3a.Briefly describe the nature of business you have or might like to have in the future. b.What are the advantages and disadvantages of owning your own business?c.In what ways could PESTEL be useful in planning your start-up business? 3LO1/4Week 4-5a.In what ways can ‘globalisation’ have an impact on your business? Discuss two examples.b.What suitable technology wouldyour businessuseand how would it improve the operations of the business? 4LO1/2EBWO3001 | Effectiveness in Business World2
Week 6-7a.Briefly identify who your ‘customer’ is likely tobe. Why is it important for a business to understand its customers?b.DescribeTWOways in which you might attract more customers to your business.5LO1/3Week 8-9a.What is the role of ethics in business? b.With examples from other businesses, describe how your business can treat its staff ethically. 6LO3/4References 7Total word limit: 1500 words(+/- 10%)This portfolio is a working document that MUST be completed over the 10-week course. By the end of the 10-week course, you should have completed 4 tasks. You will also berequired to work on your portfolio during your weekly tutorial sessions.ASSESSMENT – PORTFOLIOWeekTask 1LearningOutcomesWeek2-3a.Briefly describe the nature of business you have or might like to have in the future. b.What are the advantages and disadvantages of owning your own business?c.In what ways could PESTEL be useful in LO1/4EBWO3001 | Effectiveness in Business World3
planning your start-up business? Your answer should go in the box below. If I get the opportunity to have my own business once in a lifetime, then I would like to start an accounting service business. Every business, whether good or bad, needs accountant. The business owner is conscious enough of his finance and he knows the value of accountant or a book keeper in his business. Since it could be expensive for the small business owners to appoint an accountant for his business, it opens up a great opportunity for all the accountants and the book keepers to open up their own accounting businesses. Owning a business opens up the opportunity of making more money than what hecould make as an employee of a company (Davenport, Dalle and Lucker 2014). A business opens up the possibility of making truckloads full of money (Nahavandi and Chesteen 2017). However, there are few disadvantages too. They include financial risk, time commitment and stress. Every business needs financial resources to start and grow (Williams 2014). In order to do so, a person may need to commit most of his savings or even go into debt. With the same, there will be a huge array of things to get worried about such as competition, bills, employees customer problems etc. Mostly people start a business so that they could spend more time with their families but the fact is running a business is immensely time consuming.In addition to that, when a person owns his own business; he is the only one in control. He is his own boss and there is no one who has a control over him. No one needsto tell him to do his work. Though, there are government workers, customers and suppliers who needs to get satisfied by him but the good news is that he still have the choices of whether to act according to them or not. The PESTLE analysis discovers and records the different factors in the Political,Economic,Social,Technological,Legal, andEnvironmental factors that may have animpact on a business (Lolios and Read 2013). It helps the business owners in planning and strategizing their next steps and that too with a clear view of the current as well as upcoming external factors that may affect their business. The PESTLE analysis will help me to spot my business and personal opportunities and will assist me with advanced warning of consequential threats. It shall reveal the way of changes within my business environment. Furthermore, it will help in to opt out the projects that will probably fail for the reasons that would be beyond my control. Pestle analysis will help me indentify the way by which each element of the pestle is influencing my business and with the help of this, i shall focus more on finding out the solution of the same. It will also evaluate the associated risks with the countries and states that i am interested in introducing my business. EBWO3001 | Effectiveness in Business World4
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