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Business and Economic Environment

Business and Economic Environment

May 1, 2022 by B3ln4iNmum

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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