business Essay

800 Words4 Pages
Assignment questions: Specification of Assessment LO1 (Task 01): Understand the organisational purposes of business 1.1 Identify the purposes of different types of organisation 1.2 Describe the extent to which Siemens meets the objectives of different stakeholders D1 Critically evaluate the responsibilities of Siemens to meet stakeholders objectives. 1.3 Explain the responsibilities of Siemens and strategies employed to meet stakeholders. M1 Identify and find the mission and objectives of Siemens. LO2 (Task 02): Understand the nature of the national environment in which businesses operate 2.1 Explain how economic systems attempt to allocate resources effectively. 2.2 Assess the impact of fiscal and monetary…show more content…
Assignment guidelines .................................................................................................................................................................. 1 Understand the organisational purposes of businesses (Questions: 1.1, 1.2, D1, 1.3, M1) Categories of organisation: legal structure; type eg private company, public company, government, voluntary organisation, co-operative, charitable; sector (primary, secondary tertiary) Purposes: mission; vision; aims; objectives; goals; values; profits; market share; growth; return on capital employed (ROCE); sales; service level; customer satisfaction; corporate responsibility; ethical issues Stakeholders: owners; customers; suppliers; employees; debtors; creditors; financial institutions (banks, mortgage lenders, credit factors); environmental groups; government agencies (central government, local authorities); trade unions Responsibilities of organisations: stakeholder interests; conflict of expectations; power influence matrix; satisfying stakeholder objectives; legal responsibilities eg consumer legislation, employee legislation, equal opportunities and anti-discriminatory legislation environmental legislation, health and safety legislation; ethical issues eg environment, fair trade, global warming, charter compliance eg Banking Code 2 Understand the nature of the national
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