unit 1 assignment 2 business level 3 p6

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BTEC Level 3 Business Unit 1 Assignment 2 – P6, M3, D2.

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BTEC Business Level 3: Unit 1 - Exploring Businesses (Distinction*) - Assignment 2

Subject: Business and finance

Age range: Age not applicable

Resource type: Unit of work

Last updated

28 September 2022

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BTEC Business Level 3: Assignment 2 - Unit 1: Exploring Business. Distinction criteria has been met. This assignment is very well organised with appropriate images and colour coded sections being used. All relevant sources are linked on each page and using the information from this document will ensure you attain the highest grade possible. This document includes P4, P5, P6, M3, M4, D2, D3.

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BTEC Business Level 3: - Unit 1 & 4 & 5: Distinction criteria has been met. These assignments are very well organised with appropriate images and colour coded sections being used. All relevant sources are linked on each page and using the information from this document will ensure you attain the highest grade possible.

BTEC Business Level 3: Unit 5 - International Business (Distinction*) - Assignments

BTEC Business Level 3: - Unit 5: International Business. Distinction criteria has been met. This assignment is very well organised with appropriate images and colour coded sections being used. All relevant sources are linked on each page and using the information from this document will ensure you attain the highest grade possible.

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Unit 1 – Exploring Business Assignment 2 BTEC Business Level 3 *DISTINCTION* GRADED COURSEWORK – Covers: P1,P2,P3,M1,M2,D1

This document includes 47 detailed pages of Distinction* graded coursework for Unit 1 – Exploring Business Assignment 1, covering: P4,P5,P6,M3,M4,D2 and D3. This assignment is on Tesco and Cancer Research UK and can be used as a guide of exactly what you need to include to achieve a Distinction in the unit, which will save you countless hours working on coursework. Breakdown of each part that is covered in this document: P4: Discuss the internal, external and competitive environment on a given organisation. P5: Select a variety of techniques to undertake a situational analysis of a given organisation. P6: Explore how the market structure and influences on supply and demand affect the pricing and output decisions for a given business. M3: Assess the effects of the business environment on a given organisation. M4: Assess how a given business has responded to changes on the market. D2: Evaluate the extent to which the business environment affects a given organisation, using a variety of situational analysis techniques. D3: Evaluate how changes in the market have impacted on a given business and how this business may react to future changes.

Business BTEC level 3 Unit 1 – Assignment 2 Learning Aim C&D Learning Aim C – The Business Environment Introduction In this document I will be compiling research about the business environment and the market that Tesco operates in, including all the factors that affect Tesco’s internal, external and competitive environment alongside the reasons why Tesco’s demand and supply might change overtime. By using situational analysis I will be able to identify the factors and their effect on Tesco and the wider market and apply these factors into the evaluation of Tesco’s responses to market changes later on. The internal environment: (C.P4) In this section I will firstly describe all aspects of the internal environment and look at the environment that TESCO operates in. The internal environment of a business refers to the elements/influences within the business that play a major role in how the business operates. As these influences are internal it means that the business will have full control over the internal environment and can change it to suit the external environment and make the business stronger. Within the internal environment there are internal influences which can greatly hinder or facilitate success so it is important for businesses to use the correct analysis and situational tools to determine what their internal environment/influences are and how they can harness them to improve the overall business further, giving them a higher chance of success and reducing risk when making strategic business decisions. The 3 internal influences of Tesco: The first internal influence is corporate culture. Corporate culture is the collective standards, beliefs and values within a business. This will impact the way customers/the public perceives the business and can possibly harm reputation and getting attacked by pressure groups if the corporate culture is deemed socially unacceptable. The corporate culture will also affect how the business communicates with its stakeholders and how their relationship is maintained. Some examples of corporate culture are; ● Market culture – where the business is prioritising profit over anything else which gives the business focus to external and internal success rather than satisfaction. Some drawbacks of this culture is that there is low employee retention because this culture is not orientated to cover the satisfaction of employees. ● Clan culture – this is an employee focused culture, making sure that employees are involved and made to feel valued and respected, which makes a largely collaborative structure. This culture is not suitable for the long-term as it becomes harder to maintain as the business grows. ● Adhocracy culture – this business culture values innovation and creativity, encouraging employees to be creative and to think outside the box. One major disadvantage to this culture is that it carries a lot of risk because there are so many different ideas that many will often fail. ● Hierarchy culture (organisational culture) – this is where the business is highly focused on organisation of the internal environment which makes sure that there are clear lines of

communication, authority and chains of commands. One drawback of this is that it leaves the business inflexible as the structure is organised for maximum efficiency. ● Task – commonly adopted by matrix structure businesses as many departments will work together and therefore need to adopt a ‘team work’ mindset. This makes the business as a whole more responsive and interconnected. ● Roles – hierarchical structure where there are clear chains of commands, high supervision and lines of authority but high bureaucracy and slow decision making because communication is delegated down the structure then back up again and takes time to flow through each hierarchical layer. ● Power – centralised decision making where everything is controlled and regulated by the individuals at the top of the business ● Entrepreneurial – often seen in competitive markets and small businesses where the culture is all about taking informed risks but pushing innovation and out-doing competitors. Risk is high but the rewards are higher. Decentralised decision making and more people focused. The corporate culture of Tescos is that they are very people-oriented but also structured hierarchically, similar to the ‘clan culture’ and the ‘roles’ values. Their main values are that they strive to serve their customers better everyday and give back to communities. To support this culture Tesco has initiated a plan named ‘little helps plan’ which focuses on the people within Tesco and its supply chain, serving customers the highest quality and healthy food for an affordable but fair price, giving to and supporting communities through fundraisers and events, becoming more environmentally friendly. It is clear that Tescos corporate culture is to strengthen the relationship between every person involved in the business, whether it be the customers, employees or anyone involved in the supply chain. It is also clear that their culture is focused on being more environmentally friendly and sustainable in the long-run which may improve their reputation and strengthen public relations (PR) and possibly lead to ‘positive word of mouth’ as society is becoming more focused on becoming environmentally friendly and it is crucial that Tescos culture supports this as there are many environmental pressure groups which could harm their reputation. Tesco also have clear lines of authority therefore they also fit into the ‘role’ category. Authority is clearly established which makes it easier for employees to communicate with managers and the managers can reward or punish the employees. Corporate culture is very important for a wide range of reasons. One reason is that it can improve employee motivation, productivity and retention. This is important because it means that employees are willing to work harder and as Tesco is a retailer it means that the employees will offer a better shopping experience to customers and their stores will be organised. It also could mean that costs are lower as employees are retained, and human resources does not have to spend money on job advertisements, requirements and training. And with this money Tesco can reinvest it back into their business to fund developments or pay it to their shareholders through dividends as they are a Public limited company and are limited by shares. Corporate culture has an impact on brand image and how customers perceive the business. And in a highly competitive environment such as the retail industry that Tesco operates in, it is important for them to have a good corporate culture so that customers perceive them as good, ethical and caring which has the ability to encourage repeat purchases, customer loyalty and an increased market share as customers are more likely to purchase from them. The effects on decision making is that it can reduce bureaucracy and increase the level of involvement from the business as a whole, this is because in some corporate cultures like Tescos they are very people oriented meaning that they keep their employees valued and involved, this then engages employees to send feedback which can be used to make business decisions. Some features of a strong culture: 2

● Collective goals between employees ● Increased productivity and motivation of employees ● Strong work ethic ● Abides by regulations and policies ● Efficient ● Structured ● Responsibilities are understood Some features of a weak culture: ● Tasks are forced onto employees ● Employee feedback are not taken seriously ● Many conflicts ● Very top heavy where all decisions are made at the top of the business without considering the opinions and feedback of those at the bottom of the hierarchy in a business ● Treating all operations as though they are to maximise revenue ● Very focused on profit and shareholder satisfaction only

● Inflexible and very strict structure

Another internal influence is corporate social responsibility (CSR) which is the commitments of a business beyond legal duty (not legally compulsory) for the sole purpose of achieving societal goals. The first step for businesses to build their CSR is to accept responsibility for how they treat their stakeholders and their environmental effects. A Corporate Social Report is made to set targets to help the business meet its ethical, environmental and social responsibilities, which also allows the business to analyse and measure their progress, helping them to construct SMART objectives and other aims. Advantages: ● Improves public relations (PR) which can change how customers perceive the business, if the business is acting socially, ethically and environmentally responsible then more people may be attracted to the business (potentially higher sales and profit) ● Reduction in environmental tax due to one of the main focuses of CSR is to reduce negative environmental impact ● Better customer loyalty and increased repeat purchases ● Higher employee retention and a wider pool skills ● Employees are more motivated and productive ● CSR can be used as a Unique Selling Point (USP) which can give businesses a competitive advantage, taking customers away from their competitors ● Positive relationships with stakeholders Disadvantages: ● CSR focuses on employees as well so this may increase training costs, wage/salaries and maintenance on the work environment ● Also relates to ethicality so businesses may look for ethical suppliers but they will be more expensive ● New staff, managers and directors to manage the CSR ● May be hard to meet short-term goals regarding shareholders as they will receive lower dividends due to more profit being reinvested 3

● Opportunity cost (benefit foregone of the next best alternative), the business could use that capital reinvested in other areas of the business that need improving or using that time and effort developing new products CSR at Tesco: Health – ● Corporate partners with many charities including Cancer Research UK ● Aiming to cut sugar contents of UK soft drinks by 5% each year ● Offering free fruit to children in UK stores ● Tesco has raised nearly £14 million for their National Charity Partnership Environment – ● Tesco was the first UK retailer to join the Sustainable Agriculture Initiative (SAI) which actively supports the sustainability and innovation of agriculture ● Using fair trade so farmers are paid a fair amount for their products ● Actively reducing plastic waste and carbon emissions Human rights – ● Social programmes that support nearly 450,000 people ● Tesco have won many awards for their efforts of human and labour rights ● 42 local based sourcing specialists worldwide Food Waste – ● In 2017 Tesco had the commitment to not let any food that was safe to eat to be wasted from UK stores, instead this food would be donated to food banks. ● Food surpluses also given to various charities ● Tesco are the only UK supermarket retailer to release data on food waste Business ethics – ● Adapted their Code of Business Conduct ● Refreshing training programmes ● encouraging diversity and creativity within the workplace Supplier relationships – ● In 2008 Tesco was exposed to be underpaying and not paying their suppliers and since then they have strived to improve the relationship and trust, they have done this by ensuring that they pay suppliers on time and in full amount but have also launched supplier networks to hear any feedback and suggestions from their suppliers ● Made a supplier helpline ● Constantly trying to improve the relationship and trust It is clear that Tesco invests a lot of time, effort and money into CSR because they support a wide range of charities and have developed many targets such as making their packaging fully recyclable and compostable by 2025, clearly showing that they are focused on reducing the environmental impact from their operations. Their CSR have improved public relations and have greatly increased their reputation and have persuaded many to start shopping with Tesco because it gives them a competitive advantage, Tesco have received countless awards for their CSR efforts. 4 Powered by https://learnexams.com/search/study?query=aqa

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