| COURSEWORK: QUESTION PAPER(Re- Sit) | Spring 2024 Semester-long |
| Module Code: | FE4061NI |
| Module Title: | Understanding the Business and Economic Environment |
| Module Leader: | Rupak Aryal (Islington College) |
| Coursework Type: | Individual Coursework- 1500 Words 1500 ± 5% word is recommended. (Minimum 1425 and maximum 1575) |
| Coursework Weight: | This coursework accounts for 100% of your total module grades. |
| Submission Date: | TBA |
| When Coursework is given out: | TBA |
| Submission Instructions: | Submit the following at the MST platform on a single PDF format. The following naming convention should be followed while submitting: 1 x Final Submission PDFFile name example: 12312324 Darshan Gyawali The work will be marked in accordance with the grading criteria mentioned in the question section. |
| Warning: | London Metropolitan University and Islington College take Plagiarism seriously. Offenders will be dealt with sternly. |
Section A: Learning outcomes of the assessments
LO 1. Understand the business context of firms, research well-known organisations and the business environment in which they operate, and apply business principles and analysis within chosen sector/s;
LO 2. Understand the economic context of firms, research well-known organisations and the economic environment in which they operate, and apply economic principles and analysis within chosen sector/s
Section B: Introduction
Your academic performance is assessed by means of your classroom participation, formative assessments, and summative assessments in this module.
This is the only summative assessment in this module. The assessment is developed with the aim of testing the module’s learning outcomes. Formative assessment takes place in tutorial or workshop sessions through learning activities that support development of this summative assessment. Students are required to reflect the classroom discussion, case studies and examples from industry to get a better score.
Section C: Assessment Strategy
The assessment includes 2 parts:
Part 1– Student is required to research well-known organisation and the business and economic environment in which it operates, and apply business/economic principles and analysis within chosen sector/s
Part 2– Students are required to answer two questions from this part.
Section D: Assessment submission
Assessment question paper will be handed to students at least a week prior to the submission deadline. The deadline to submit the assessment will be finalised by the RTE department.
Please note- all the submissions must be converted to the PDF format. Any submissions in other formats will not be accepted.
Section E: Assessment Requirements-
You are required to develop an individual report as per the structure and instruction provided below:
| S.N | Section | Weight | Detail |
| 1 | Cover Page | 1 | Must follow the cover page template provided by the module lecturer 1 page |
| 2 | Table of content | 1 | 1 page |
| 3 | Introduction | 5 | The purpose of the paper (2 marks) The structure of the paper (3 marks)50 words |
| 4 | Company Background | 23 | Identify one industry from the UK Standard Industrial Classification (SIC 2007) and choose a UK public limited company (PLC) from the industry. (3 marks) Briefly discuss the nature of the chosen company (5 marks) Briefly discuss the structure of your chosen industry. (7 marks) Apply the SCP framework on the chosen industry. (8 marks) 300 words |
| 5 | STEEPLE Analysis | 28 | Use the Social, Technological, Environmental, Economic, Political, Legal and Ethical (STEEPLE) factor analysis to analyse the external business environment of the chosen company over the last 5-10 years. You are expected to discuss each factor separately, for example, consider in what ways technology (T) might influence the organisational structure of a business. Explain any four (4 x 7 marks) of the following factors: Social Factor AnalysisTechnological Factor AnalysisEnvironmental Factor AnalysisEconomic Factor AnalysisPolitical Factor AnalysisLegal Factor AnalysisEthical Factor Analysis You must identify three points for each of the four chosen factors and explain one of the points in detail. 400 Words |
| 6 | Economic Factor: Micro-Economic | 8 | Identify the determinants that affect the demand for goods and/or services of your chosen company. (2 marks) Draw a demand curve diagram to illustrate your answer. (2 marks) Identify the determinants that affect the supply for goods and/or services of your chosen company. (2 marks) Draw a supply curve diagram to illustrate your answer. (2 marks) 200 Words |
| 7 | Economic Factor: Macro-Economic | 5 | Identify the impacts on businesses because of national policies- fiscal policy, monetary policy, and/or supply-side policy. 100 Words |
| 8 | The business problems and challenges | 4 | Discuss the business problems and challenges the chosen company faces because of the contemporary issues like- Russian invasion on Ukraine;The pandemic;The increase in dollar rate;The shortage of fuel/ rise in price of fuel; etc. 150 words |
| 9 | Problem 1 | 10 | Answer Problem: 1 from section F. 150 words |
| 10 | Problem 2 | 10 | Answer Problem: 2 from section F. 150 words |
| 12 | References | 5 | In-text citation and Bibliography must be developed using Harvard referencing method References must be evaluated on qualitative and qualitative aspectsNote: Points and/or arguments presented and made should be substantiated with data/evidence. I am interested in your own views but it should be clear through the referencing system whether they are personal or evidenced by the views/data of others. |
Section F:
Answer the following two problems:
Problem: 1
Trendy Apparel Boutique designs and sells unique handmade clothing items. The boutique has a certain degree of control over the pricing of its products due to their distinctiveness and branding efforts. However, there are several other boutiques in the area offering similar but not identical products.
Question: In which market structure is the Trendy Apparel Boutiques operating? Justify your answer. (5 marks)
Problem 2:
XYZ Electronics Manufacturing produces smartphones and brings them to sell at the TechExpo electronics fair. As of today, the smartphones are priced at $500 each by the TechExpo organisers. The following table shows the quantity, fixed cost, and variable cost for producing smartphones:
| Quantity | Fixed Cost ($) | Variable Cost ($) |
| 1 | 1000 | 300 |
| 2 | 1000 | 550 |
| 3 | 1000 | 750 |
| 4 | 1000 | 1000 |
| 5 | 1000 | 1300 |
| 6 | 1000 | 1600 |
| 7 | 1000 | 1900 |
Question 1: The market for smartphones at TechExpo is close to which market structure? (1.5 marks)
Question 2: Complete the following table (2 marks):
| Quantity | Total Revenue | Marginal Revenue | Average Revenue | Fixed Cost | Variable Cost | Total Cost | Marginal Cost | Profit |
| 1 | 1000 | 300 | ||||||
| 2 | 1000 | 550 | ||||||
| 3 | 1000 | 750 | ||||||
| 4 | 1000 | 1000 | ||||||
| 5 | 1000 | 1300 | ||||||
| 6 | 1000 | 1600 | ||||||
| 7 | 1000 | 1900 |
Question 3: At what quantity would the firm maximise its profit? (1.5 marks)
Section G: Marking Criteria: How will you be evaluated?
The paper will be evaluated on the following major criteria.
- Evidence of understanding of the selected question
- Evidence of understanding of relevant concepts
- Critical application of theory
- Demonstration of analytical independent thinking
- Evidence of research (In classroom and external)
- Use of relevant examples to support the argument
- Collection and sound use of relevant information
- A coherently structured argument
- Well supported conclusions
- A sound professional quality presentation
- Citation and Referencing
Section H: Recommended Reading for references
Books
- Sloman, J., Garratt, D., Guest, J., & Jones, E. (2019) Economics for Business. 8th edition. Harlow, United Kingdom: Pearson Education Limited.
- Worthington, I. and Briton, C. (2018) The Business Environment: A Global Perspective 8th edn, London: FT/Prentice Hall.
- Sloman, J., Guest, J. and Garratt, D. (2018) Economics. 10th edition, Pearson Education Limited.
- Wetherly, P. and Otter, D. (2018) The Business Environment: Themes and Issues in a Globalizing World, 7th edn, UK: Oxford.
Journals
- European Research on Management and Business Economics.
- Harvard Business Review.
- International Journal of Management and Economics.
Websites
- www.bankofengland.co.uk
- www.bbc.co.uk
- www.ft.com
- www.theguardian.com/uk/business
- www.independent.co.uk/news/business/news
- www.stats.gov.uk
- www.studyingeconomics.ac.uk
- www.uk.reuters.com/business
Section I: Assessment Grade Description
GSBL UNDERGRADUATEGENERAL GRADE DESCRIPTORS
| Level 3/4 | Level 5 | Level 6 | |
| General | Acquisition of broad knowledgeEvaluate informationUse information to plan, develop and problem solve | Generate ideas through analysing conceptsDemonstrate a command of specialised skillsFormulate responses to well defined and abstractAnalyse and evaluate information | Critically review, consolidate and extend a body of knowledge using specialised skillsCritically evaluate concepts and evidence from a range of sourcesTransfer and apply skills and exercise significant judgement in a range of situations |
| 70-100 (A) | Very goodDemonstration of very good comprehension of the task with evidence of analysis, synthesis, evaluation and critical appraisalUse of a wide variety of appropriate sourcesTransformation of knowledgeIndependent thinking and development of ideasAbility to communication very clearly and effectivelyVery good evidence of preparationVery good organisation, structure and presentation of work – minimal errorsGood references, appropriate sources (quality and quantity). No errors in reference list or citations. | ExcellentAdvanced scholarshipGoes beyond the material providedExcellent link to researchExcellent analysis, synthesis, evaluation and critical appraisalExcellent evidence of preparationComprehensive and critical understanding of the topicExcellent ability to communicate clearly and effectivelyExcellent organisation, structure and presentation of workGood references, appropriate sources (quality and quantity). No errors in reference list or citations. | Excellent – Outstanding (for use at far end of range)Outstanding understanding, exploration and insightStrong evidence of originality and development of own ideasDevelop a highly complex argumentOutstanding ability to communicate topics clearly and conciselyAdvanced organisation, structure and presentation of workGood references, appropriate sources (quality and quantity). No errors in reference list or citations.References well utilised and critiqued |
| 60-69 (B) | Very goodDemonstration of very good comprehension of the task with evidence of analysis, synthesis, evaluationUse of a wide variety of appropriate sourcesTransformation of knowledgeIndependent thinking and development of ideasAbility to communication clearly and effectivelyVery good evidence of preparationVery good organisation, structure and presentation of work – minimal errorsGood references, appropriate sources (quality and quantity). Minimal or no errors in reference list or citations. | Very goodDemonstration of very good comprehension of the task with evidence of analysis, synthesis, evaluationUse of a wide variety of appropriate sourcesTransformation of knowledgeIndependent thinking and development of ideasAbility to communication clearly and effectivelyVery good evidence of preparationVery good organisation, structure and presentation of work – minimal errorsGood references, appropriate sources (quality and quantity). Minimal or no errors in reference list or citations. | Very GoodAdvanced scholarshipGoes beyond the material providedVery good link to researchVery good analysis, synthesis, evaluation and critical appraisalVery good evidence of preparationComprehensive and critical understanding of the topicVery good ability to communicate clearly and effectivelyVery good organisation, structure and presentation of workGood references, appropriate sources (quality and quantity). No errors in reference list or citations. |
| 50-59 (C) | Adequate – SatisfactorySome analysis but limitedSome insight and exploration of ideasSound conclusionsNo significant inaccuracies or omissionsSome analysis, evaluation or synthesis of informationLacking clarity at timesSome evidence of preparationReferencing is sound. Mostly appropriate sources. Numerous errors or inconsistencies | Adequate – SatisfactorySome evidence of thinking independently to develop own ideasEvaluation of relevant theories or literatureReasonable ability to communicate clearly and effectivelyReport information in a structured wayUse of an appropriate formatQuite comprehensive knowledgeSatisfactory evidence of preparationSatisfactory referencing, appropriate sources.Numerous but minor errors in references | Adequate- SatisfactoryEvidence of thinking independently to develop own ideasEvaluation of relevant theories or literatureAbility to communicate clearly and effectivelyReport information in a structured wayUse of an appropriate formatReasonably Accurate, quite comprehensive knowledgeSatisfactory evidence of preparationCoherent and well presented – minor errorsSatisfactory referencing, appropriate sources.Minor errors in references |
| 40-49 (D) | All learning outcomes metCompetent (practical)May be incomplete in knowledge (some errors or omissions)Insufficient analysis, evaluation or synthesisLimited application of theories/knowledgeAn awareness of appropriate principles/theories/techniquesIrrelevance to the task at timesDisorganised work with weak standard of presentationNumerous aberrations from the requirements of the taskReferencing is attempted although may be inconsistent, many errors, weak sources | All learning outcomes metCompetent (practical)May be incomplete in knowledge (some errors or omissions)Weak or no analysis, evaluation or synthesisSome application of theories/knowledgeAn awareness of appropriate principles/theories/techniquesIrrelevance to the task at timesDisorganised work with weak standard of presentationAberrations from the requirements of the taskReferencing is attempted although may be inconsistent, many errors, weak sources | All learning outcomes metCompetent (practical)May be incomplete in knowledge (some errors or omissions)Weak or no analysis, evaluation or synthesisSome application of theories/knowledgeAn awareness of appropriate principles/theories/techniquesIrrelevance to the task at timesDisorganised work with weak standard of presentationAberrations from the requirements of the taskReferencing is attempted although may be inconsistent, many errors, weak sources |
| Condoned Pass 30-39 (R2/F1) | Learning outcomes not metLittle relevant knowledgeLacking structureNumerous errors in structure and formLimited understanding of concepts/theoriesNo appropriate analysis, evaluation or synthesisSignificant inaccuracies/omissionsNot competentLittle or no attempt to use references and if so very weak with errors | Learning outcomes not metLittle relevant knowledgeLacking structureNumerous errors in structure and formLimited understanding of concepts/theoriesNo appropriate analysis, evaluation or synthesisSignificant inaccuracies/omissionsNot competentLittle or no attempt to use references and if so very weak with errors | Learning outcomes not metLittle relevant knowledgeLacking structureNumerous errors in structure and formLimited understanding of concepts/theoriesNo appropriate analysis, evaluation or synthesisSignificant inaccuracies/omissionsNot competentLittle or no attempt to use references and if so very weak with errors |
| Under 30 (R2/F2) | Little engagement with the taskNo basic understanding of the subject matterPoor communication (written or verbal)Lacking or no structureSignificant errors in structure and formMany significant inaccuracies/omissions – very little correctLittle or no attempt to use references and if so very weak with many significant errors | Little engagement with the taskNo basic understanding of the subject matterPoor communication (written or verbal)Lacking or no structureSignificant errors in structure and formMany significant inaccuracies/omissions – very little correctLittle or no attempt to use references and if so very weak with many significant errors | Little engagement with the taskNo basic understanding of the subject matterPoor communication (written or verbal)Lacking or no structureSignificant errors in structure and formMany significant inaccuracies/omissions – very little correctLittle or no attempt to use references and if so very weak with many significant errors |
| (0%) | No submissionNothing of relevance in the work submitted | No submissionNothing of relevance in the work submitted | No submissionNothing of relevance in the work submitted |
