FE4055QA
Understanding the Business and Economic
Environment
July 2021 Intake
Individual Coursework Marking Scheme
1. Individual Coursework Marking Criteria and Grading Standards
The performance of students is assessed by the assessment method – ‘Individual
Coursework’ as appropriate to the level and learning outcome of the assessment
protocol. The individual coursework constitutes 100% assessment weighting for this
module. Students are required to write an individual coursework/essay (2000 words)
by discussing the following questions.
➢ Identify one industry from the UK Standard Industrial Classification (SIC 2007)
and choose a UK public limited company (PLC) from the industry. [5 Marks]
➢ One of the most important and influential elements of the business environment
is the structure of the industry. Briefly discuss the structure of your chosen
industry. [5 Marks]
➢ Briefly discuss the business organisation and its nature of your chosen
company (a UK PLC) in relation to the structure of the industry. [5 Marks]
➢ Use the Social, Technological, Economical, Environmental, Political, Legal and
Ethical (STEEPLE) analysis to analyse the external business environment of
the chosen company over the last 5-10 years. Students are expected to discuss
each factor separately, for example, consider in what ways technology (T)
might influence the organisational structure of a business. Students must
discuss the four bullet points listed as below for the microeconomic and
macroeconomic factors, and are allowed to extend their discussions beyond
the four bullet points:
Social factor analysis [10 Marks]
Technological factor analysis [10 Marks]
Environmental factor analysis [10 Marks]
Political factor analysis [10 Marks]
Legal factor analysis [10 Marks]
Ethical factor analysis [10 Marks]
Economical factor analysis (see the suggested marks from the bullet points
below)
o Identify the microeconomic factors that affect the demand for goods
and/or services of your chosen company and the factors for the market
demand. Draw a demand curve diagram to illustrate your answer.
[5 Marks]
o List the determinants of the supply of the business and identify what
would cause the supply of goods and/or services to fall/rise. Draw a
supply curve diagram to illustrate your answer. [5 Marks]
o Discuss the competitiveness of the UK market and its impacts on the
future of the business. [5 Marks]
o Give some examples of ‘random shocks’ that could undermine the UK
government’s fiscal policy and discuss if there is any fiscal policy could
have an impact on the UK’s economy and the business of your chosen
company. [5 Marks]
➢ Research and discuss the business problems and challenges the chosen
company faces and criticise on the external effects of a business decision on
themselves/customers/employees/rivals and on the public at large. [5 Marks]
[Total Marks: 100]
It is recommended to write your essay with the structure of:
• Cover Page with your student ID, Module Code and Name, Date for
Submission, Word Counts
• Introduction
• Main Body used for answering these questions
• Conclusion
• References
• Appendix (not compulsory)
Overall, the essay will be assessed based on the above marking rubrics,
standards and criteria as below, and follows the GSBL general grade
descriptors.
• Content: accuracy, relevance, focus and coverage
• Construction of argument: integration and coherence of structure
• Quality of argument: evidence of understanding, judgement, critical analysis,
originality, logic and synthesis
• Reading and research: demonstration of independent reading
• Quality of communication: overall presentation, language and clarity.
2. GSBL General Grade Descriptors
GSBL GENERAL GRADE DESCRIPTORS
| General | Level 3/4 o Acquisition of broad knowledge o Evaluate information o Use information to plan, develop and problem solve |
Level 5 o Generate ideas through analysing concepts o Demonstrate a command of specialised skills o Formulate responses to well defined and abstract o Analyse and evaluate information |
Level 6 o Critically review, consolidate and extend a body of knowledge using specialised skills o Critically evaluate concepts and evidence from a range of sources o Transfer and apply skills and exercise significant judgement in a range of situations |
| 70-100 (A) | Very good Demonstration of very good comprehension of the task with evidence of analysis, synthesis, evaluation and critical appraisal Use of a wide variety of appropriate sources Transformation of knowledge Independent thinking and development of ideas Ability to communication very clearly and effectively Very good evidence of preparation |
Excellent Advanced scholarship Goes beyond the material provided Excellent link to research Excellent analysis, synthesis, evaluation and critical appraisal Excellent evidence of preparation Comprehensive and critical understanding of the topic Excellent ability to communicate clearly and effectively |
Excellent – Outstanding (for use at far end of range) Outstanding understanding, exploration and insight Strong evidence of originality and development of own ideas Develop a highly complex argument Outstanding ability to communicate topics clearly and concisely Advanced organisation, structure and presentation of work |
AssignmentTutorOnline
| Very good organisation, structure and presentation of work – minimal errors Good references, appropriate sources (quality and quantity). No errors in reference list or citations. |
Excellent organisation, structure and presentation of work Good references, appropriate sources (quality and quantity). No errors in reference list or citations. |
Good references, appropriate sources (quality and quantity). No errors in reference list or citations. References well utilised and critiqued |
|
| 60-69 (B) | Very good Demonstration of very good comprehension of the task with evidence of analysis, synthesis, evaluation Use of a wide variety of appropriate sources Transformation of knowledge Independent thinking and development of ideas Ability to communication clearly and effectively Very good evidence of preparation Very good organisation, structure and presentation of work – minimal errors Good references, appropriate sources (quality and quantity). Minimal or no errors in reference list or citations. |
Very good Demonstration of very good comprehension of the task with evidence of analysis, synthesis, evaluation Use of a wide variety of appropriate sources Transformation of knowledge Independent thinking and development of ideas Ability to communication clearly and effectively Very good evidence of preparation Very good organisation, structure and presentation of work – minimal errors Good references, appropriate sources (quality and quantity). Minimal or no errors in reference list or citations. |
Very Good Advanced scholarship Goes beyond the material provided Very good link to research Very good analysis, synthesis, evaluation and critical appraisal Very good evidence of preparation Comprehensive and critical understanding of the topic Very good ability to communicate clearly and effectively Very good organisation, structure and presentation of work Good references, appropriate sources (quality and quantity). No errors in reference list or citations. |
| 50-59 (C) | Adequate – Satisfactory Some analysis but limited Some insight and exploration of ideas Sound conclusions No significant inaccuracies or omissions Some analysis, evaluation or synthesis of information Lacking clarity at times Some evidence of preparation Referencing is sound. Mostly appropriate sources. Numerous errors or inconsistencies |
Adequate – Satisfactory Some evidence of thinking independently to develop own ideas Evaluation of relevant theories or literature Reasonable ability to communicate clearly and effectively Report information in a structured way Use of an appropriate format Quite comprehensive knowledge Satisfactory evidence of preparation Satisfactory referencing, appropriate sources. Numerous but minor errors in references |
Adequate- Satisfactory Evidence of thinking independently to develop own ideas Evaluation of relevant theories or literature Ability to communicate clearly and effectively Report information in a structured way Use of an appropriate format Reasonably Accurate, quite comprehensive knowledge Satisfactory evidence of preparation Coherent and well presented – minor errors Satisfactory referencing, appropriate sources. Minor errors in references |
| 40-49 (D) | All learning outcomes met Competent (practical) May be incomplete in knowledge (some errors or omissions) Insufficient analysis, evaluation or synthesis Limited application of theories/knowledge |
All learning outcomes met Competent (practical) May be incomplete in knowledge (some errors or omissions) Weak or no analysis, evaluation or synthesis Some application of theories/knowledge |
All learning outcomes met Competent (practical) May be incomplete in knowledge (some errors or omissions) Weak or no analysis, evaluation or synthesis Some application of theories/knowledge |
| An awareness of appropriate principles/theories/techniques Irrelevance to the task at times Disorganised work with weak standard of presentation Numerous aberrations from the requirements of the task Referencing is attempted although may be inconsistent, many errors, weak sources |
An awareness of appropriate principles/theories/techniques Irrelevance to the task at times Disorganised work with weak standard of presentation Aberrations from the requirements of the task Referencing is attempted although may be inconsistent, many errors, weak sources |
An awareness of appropriate principles/theories/techniques Irrelevance to the task at times Disorganised work with weak standard of presentation Aberrations from the requirements of the task Referencing is attempted although may be inconsistent, many errors, weak sources |
|
| Condoned Pass 30-39 (F1) |
Learning outcomes not met Little relevant knowledge Lacking structure Numerous errors in structure and form Limited understanding of concepts/theories No appropriate analysis, evaluation or synthesis Significant inaccuracies/omissions Not competent |
Learning outcomes not met Little relevant knowledge Lacking structure Numerous errors in structure and form Limited understanding of concepts/theories No appropriate analysis, evaluation or synthesis Significant inaccuracies/omissions Not competent |
Learning outcomes not met Little relevant knowledge Lacking structure Numerous errors in structure and form Limited understanding of concepts/theories No appropriate analysis, evaluation or synthesis Significant inaccuracies/omissions Not competent |
| Little or no attempt to use references and if so very weak with errors |
Little or no attempt to use references and if so very weak with errors |
Little or no attempt to use references and if so very weak with errors |
|
| Under 30 (F2) | Little engagement with the task No basic understanding of the subject matter Poor communication (written or verbal) Lacking or no structure Significant errors in structure and form Many significant inaccuracies/omissions – very little correct Little or no attempt to use references and if so very weak with many significant errors |
Little engagement with the task No basic understanding of the subject matter Poor communication (written or verbal) Lacking or no structure Significant errors in structure and form Many significant inaccuracies/omissions – very little correct Little or no attempt to use references and if so very weak with many significant errors |
Little engagement with the task No basic understanding of the subject matter Poor communication (written or verbal) Lacking or no structure Significant errors in structure and form Many significant inaccuracies/omissions – very little correct Little or no attempt to use references and if so very weak with many significant errors |
| (0%) | No submission Nothing of relevance in the work submitted |
No submission Nothing of relevance in the work submitted |
No submission Nothing of relevance in the work submitted |
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