Business enterprise
Unit summary
The purpose of this unit is to help learners to appreciate the characteristics of entrepreneurs and how entrpreneurs identify and develop viable product ideas and business ventures. Learning about the processes involved in planning, setting up, runnning and closing down a business venture is an essential part of this unit. Through this, learners will analyse and evaluate the risks associated with business activities. They will also explore the aims and functions of different types of businesses and how external and internal factors, such as legisaltion and e-commerce, can impact on business plans and activities.
Unit details
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15 Business, Administration and Law
Task-based controlled assessment
| Learning Outcome |
Assessment Criteria |
| 1 Understand the importance of businesses and entrepreneurship. |
a Explain the main characteristics of entrepreneurship and how these contribute to the individual.
b Evaluate the impact of innovation and creativity upon business and society.
c Analyse the impact of the global economy on business in the UK. |
| 2. Understand why businesses fail. |
a Describe possible risks to business and how these can be minimised.
b Explain the main reasons why businesses fail. |
| 3. Understand the different options for the structure and operation of businesses. |
a Research the structures of new and established organisations.
b Explain the external factors and different interest groups that determine how businesses are structured and operate
c Explain the main functions found in businesses and the responsibilities of key personnel.
d Analyse the factors affecting how resources are planned within businesses.
e Evaluate a range of trading methods. |
| 4. Be able to develop a business enterprise idea. |
a Generate a range of ideas for a business enterprise.
b Compare the viability of the business enterprise ideas.
c Select and develop a business idea. |
| 5. Be able to present a business idea to potential investors. |
a Present the merits of a business idea to prospective investors using reasoned arguments and evidence and respond positively to feedback.
b Review and revise the business idea in light of feedback. |
| 6. Be able to start up and run a business. |
a Create and implement a business implementation plan. |