1. Business and the Business Environment
HND in Human Resource Management
About 1. Business and the Business Environment
Business activity is fundamental and universal to our everyday lives. Business organizations may differ in many ways, depending on the industry in which they operate globally, but they do share one common feature: the transformation of inputs into outputs. This transformation process takes place against a background of external influences that impact on business activity. The external environment in which business organizations operate is dynamic, complex, volatile and interactive.
The aim of this unit is to give students background knowledge and understanding of business, of the functions of an organization and of the wider business environments in which organizations operate. Students will examine the different types of organizations (including for profit and not for profit), their size and scope (for instance micro, SME, transnational and global) and how they operate. Students will explore the
relationships that organizations have with their various stakeholders and how the wider external environments influence and shape business decision making.
The knowledge, understanding and skill sets that students gain in this unit will help them to have an insight into different business functions, which will support them with further study, support the development of analytical thinking and the application of key analytical tools used throughout business planning, and enable them to choose their preferred areas of specialism in future studies and in their professional career.
Program Learning outcome:
By the end of this unit a student will be able to:
LO1 Explain the different types, size and scope of organisations
LO2 Demonstrate the interrelationship of the various functions within an organisation and how they link to organisational structure
LO3 Use contemporary examples to demonstrate both the positive and negative influence/impact the macro environment has on business operations
LO4 Determine the internal strengths and weaknesses of specific businesses and their interrelationship with external macro factors.
TextBook Name:
MORRISON, J. (2020) The Global Business Environment: Towards Sustainability? 5th Ed. Red Globe Press.