1.1 Explain the differences between the private sector, the public sector and the voluntary sector

Understanding Business (ML8)

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Learning Outcomes

Assessment Criteria

 

1 Understand organisational structures

 

1.1

1.2

1.3

1.1 Explain the differences between the private sector, the public sector and the voluntary sector

1.2 Explain the features and responsibilities of different business structures

1.3 Explain the relationship between an organisation’s vision, mission, strategy and objectives

 

2 Understand the business environment

 

2.1

2.2

2.3

2.4

2.5

2.6

2.1 Describe the internal and external influences on a business Explain the structure and use of a strength, weakness, opportunity and threat (SWOT) analysis

2.2 Explain why change can be beneficial to business organisations

2.3 Explain organisations health and safety responsibilities 2.4 Describe sustainable ways of working

2.5 Explain how legislation affects the management and confidentiality of information

 

3 Understand the principles of business planning and finance within an organisation

 

3.1

3.2

3.3

3.4

3.5

3.6

3.7

3.1 Explain the purpose, content and format of a business plan

3.2 Explain the business planning cycle

3.3 Explain the purpose of a budget

3.4 Explain the concept and importance of business risk management

3.5 Explain types of constraint that may affect a business plan

3.6 Define a range of financial terminology

3.7 Explain the purposes of a range of financial reports

 

4 Understand business reporting within an organisation

 

4.1 Explain methods of measuring business performance

4.2 Explain the uses of management information and reports

4.3 Explain how personal and team performance data is used to inform management reports

4.4 Describe a manager’s responsibility for reporting to internal stakeholders

 

5 Understand the principles of management responsibilities and accountabilities within an organisation

 

5.1 Explain the principle of accountability in an organization

5.2 Explain the difference between ‘authority’ and ‘responsibility’

5.3 Explain the meaning of delegated levels of authority and responsibility

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