Module Information

This module introduces a variety of tools, concepts and techniques that are used to understand the internal and external business environments in which businesses and organisations operate. Some business and managerial key issues that organisations face on a day-to-day operation will also be discussed. The following areas will be addressed:

• The number of interrelated environmental forces found in different types of organisation and in the political, economic, social, technological, legal, ecological and competitive environments;
• A broad view of general technologies affecting organisations, the distinctions between knowledge and innovation, research and development, advanced manufacturing technology and management of technology;
• The relationship in different cultural contexts and the complex interactions between organisations and society and community;
• The different approaches adopted by businesses towards environmental and ethical issues, the impact of these upon consumers and the extent of consumer power in respect of ecological issues;
• The key political issues, political philosophies regarding the role of government, the amount of democratic representation and the potential impact of governments and international bodies on organisations;
• The nature of law, the broad legal requirements and issues controlling businesses behaviour and process;
• The nature of change in business environment and organisational, individual, group and government responses to environmental dynamism.

Introduction to the Business Environment- From PEST to STEEP to PESTLE Analysis
Environmental stakeholders, forecasting, planning, analyses, organisational structure and strategy
The Competitive Environment
Market economy and structures, price mechanism, nature of products and services, industry competitive advantage, competition, economies of scale and contestable markets
The International Economic Environment
Macroeconomic goals, growth and structural change, economic cycles, unemployment, international trade, currency markets, inflation and deflation
The Technological Environment
Research and development, technology, knowledge, technological change and competitiveness, society and ethics in technology, technology indicators and labour
The Cultural, Demographic and Social Environment
National culture, convergence and divergence, business practices, population, migration, dependency, family development, lifestyle, organised labour and changing work trends
The Ecological Environment
Environmental pollution, externalities, equilibrium, sustainable development, environmental impact assessment, environmental contexts and options, the consumer and ethics
The Political Environment
Sovereignty, levels of government, institutions, cooperation and integration, risk, stability and liberalisation
The Legal Environment
Sources of law, consumer law, codes of conduct, stakeholder theory, business ethics, ecommerce and internet security
Challenges and Changes
Dynamism, complexity, uncertainty, turbulence, chaos, long-term planning, environmental scenarios, flexible operation structure, social inclusion and exclusion