Understanding the Business and Economic Environment- FE4055
Spring Term
Individual Coursework Instruction
The performance of students is assessed by the assessment method – ‘Individual Coursework’ as appropriate to the level and learning outcome of the assessment protocol. The individual coursework constitutes 100% assessment weighting for this module. Students are required to write an individual coursework/essay (1,500 words) by discussing the following questions.
- Choose a UK public limited company (PLC) and identify the main industry from the UK Standard Industrial Classification (SIC 2007), 5-digits SIC code. Please exclude from this choice Tesco PLC, as this case study will be illustrated in class. [5 Marks]
- One of the most important and influential elements of the business environment is the market structure. Briefly discuss the market structure of your chosen industry. [5 Marks]
- Of your chosen business company (a UK PLC), briefly discuss its organisational structure, and its nature in relation to the market structure it works within, the industry’s market structure. [5 Marks]
- Use the Social, Technological, Economical, Environmental, Political, Legal and Ethical (STEEPLE) analytic framework to analyse the external business environment of your chosen company over the last 5 years. Students are expected to discuss each factor separately, for example, consider in what ways technology (T) might influence the organisational structure of a business. Students must use the three headings listed as below for the microeconomic and macroeconomic factors, but are allowed to extend their discussions beyond these headings:
Social factor analysis [10 Marks]
Technological factor analysis [10 Marks]
Environmental factor analysis [10 Marks]
Political factor analysis [10 Marks]
Legal factor analysis [10 Marks]
Ethical factor analysis [10 Marks]
Economic factor analysis (see the suggested marks from the bullet points below)
- Identify the microeconomic factors that affect the demand for goods and/or services of your chosen company and the factors for the market demand. Draw a demand curve diagram to illustrate your answer. [5 Marks]
- List the determinants of the supply of the business and identify what would cause the supply of goods and/or services to fall/rise. Draw a supply curve diagram to illustrate your answer. [5 Marks]
- Give some examples of ‘random shocks’ that could undermine the UK government’s fiscal policy and discuss if there is any fiscal policy could have an impact on the UK’s economy and the business of your chosen company. [5 Marks]
- Conclusion: Research and discuss the business challenges to “survive” and adapt to digitalisation. Please articulate on how should the business prepare for these changes and future trends. [5 Marks]
- Overall report quality (Standard of written English, appropriateness of style, layout, structure, conventional use of citations and bibliography). [5 Marks]
[Total Marks: 100]
It is recommended to write your essay structured as:
- Cover Page with your student ID, Module Code and Name, Date for Submission, Word Counts
- Introduction
- Main Body used for answering each point/question
- Conclusion
- References
- Appendix (not compulsory)
Assessment Instructions:
- The RESIT of the individual coursework is due 26th July 2024 at 3 pm.
- Submission of coursework must be electronically online on Turnitin Assessment System, available on FE4055 Weblearn.
- We expect your coursework to be at a minimum 1450 words and a maximum 1500 words (including in-text references, but excluding end-text references, tables, figures, Appendix).
- Sources of information must be included and referenced in your discussion as well as the date obtained.
- Points and/or arguments presented and made should be substantiated with data/evidence. We are 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.
- A bibliography should be included using the Harvard system. This ensures that every reference included in the bibliography is referenced in the main body of the text and that there are no references included in the bibliography that are not mentioned in the main body.
- Clarity of expression – you might want to use MS Word ’Spelling & Grammar’ or equivalent, but beware of Americanised spellings and the forced grammar it contains.
- Plagiarism means presenting another person’s work as your own. Some examples of it are:
- The inclusion in a student’s assignment of more than a single phrase from another person’s work without the use of quotation marks and due acknowledgement of the source.
- The summarising of another’s work by simply changing a few words or altering the order of presentation, without proper acknowledgement.
- The use of the ideas or intellectual data of another person without acknowledgement of the source or the submission or presentation of work as if it were the students, when in fact they are substantially the ideas or intellectual data of another person.
- Copying the work of another person (be it a co-student or any other source), including figures, text, etc. Students are rightly expected to draw upon other people’s ideas but in an appropriate manner. Students will certainly use books and journals to assist with their studies and in students may have access to other people’s work on computer disk or over a computer network. When undertaking assignments, students may legitimately make reference to publication made by others. However, other people’s work must be used in a principled way, with due acknowledgement of authorship. Students, in acknowledgement of the work of others must use a recognized standard and for business students this is the Harvard system of referencing. The consequences of plagiarism are extremely serious. This should be borne in mind at all times and especially when students are completing their assignments. In cases of plagiarism and other forms of cheating, University regulations will be strictly applied. If you have any concerns about plagiarism, you must discuss them with your lecturer or seminar tutor before submitting your final work for marking.
- Please note that an irresponsible use of Artificial Intelligence will be detected. Carefully read the “Guidance on the use of Artificial Intelligence” available here https://student.londonmet.ac.uk/your-studies/student-administration/guidance-on-the-use-of-artificial-intelligence/.
