Managing a Successful Business Project

Introduction 

This unit is assessed by a Pearson-set assignment. The project brief will be set by the centre, based on a theme provided by Pearson (this will change annually). The theme and chosen project within the theme will enable students to explore and examine a relevant and current topical aspect of business in the context of the business environment. The aim of this unit is to offer students an opportunity to demonstrate the skills required for managing and implementing a project. They will undertake independent research and investigation for carrying out and executing a business project which meets appropriate business aims and objectives. On successful completion of this unit students will have the confidence to engage in decision-making, problem-solving and research activities using project management skills. They will have the fundamental knowledge and skills to enable them to investigate and examine relevant business concepts within a work-related context, determine appropriate outcomes, decisions or solutions and present evidence to various stakeholders in an acceptable and understandable format. 

Learning Outcomes

 By the end of this unit a student will be able to: 

1 Establish project aims, objectives and timeframes based on the chosen theme. 

2 Conduct small-scale research, information gathering and data collection to generate knowledge to support the project. 

3 Present the project and communicate appropriate recommendations based on meaningful conclusions drawn from the evidence findings and/or analysis. 

4 Reflect on the value gained from conducting the project and its usefulness to support sustainable organisational performance.

Management Accounting

Introduction 

The overall aim of this unit is to introduce the fundamentals of management accounting which apply to the wider business environment and the organisations which operate within that environment. Students will explore how management accounting uses financial data to aid planning decisions, and the monitoring and control of finance within organisations. On successful completion of this unit students will be in a position to present financial statements in a workplace context and be able to assist senior colleagues with financial business planning. In addition, students will have the fundamental knowledge and skills to progress onto a higher level of study. 

Learning Outcomes 

By the end of this unit a student will be able to: 

1 Demonstrate an understanding of management accounting systems. 

2 Apply a range of management accounting techniques. 

3 Explain the use of planning tools used in management accounting. 

4 Compare ways in which organisations could use management accounting to respond to financial problems.

Management and Operations

Introduction 

The aim of this unit is to help students understand the difference between the function of a manager and the role of a leader. Students will consider the characteristics, behaviours and traits which support effective management and leadership. In addition, this unit will introduce the concept of operations as both a function and a process which all organisations must adopt to conduct business. Students will be introduced to contemporary and historical theories and concepts which will support their learning for this unit. On successful completion of this unit students will have developed sufficient knowledge and understanding of how management and operations make a positive, efficient and effective contribution to an organisation at a junior level. This could be in the role of a team leader or managing a specific aspect of an operation function and/or process. Underpinning all aspects of the content for this unit you will consider topics under two broad headings: management and operations. 

Learning Outcomes 

By the end of this unit a student will be able to: 

1 Differentiate between the role of a leader and the function of a manager.

2 Apply the role of a leader and the function of a manager in given contexts. 

3 Demonstrate an appreciation of the role leaders and managers play in the operations function of an organisation. 

4 Demonstrate an understanding of the relationship between leadership and management in a contemporary business environment.

Business and the Business Environment

Introduction 

The aim of this unit is to provide students with background knowledge and understanding of business, the functions of an organisation and the wider business environments in which organisations operate. Students will examine the different types of organisations (including for profit and not for profit), their size and scope (for instance, micro, SME, transnational and global) and how they operate. Students will explore the relationships that organisations have with their various stakeholders and how the wider external environments influence and shape business decision-making. The knowledge, understanding and skill sets gained in this unit will help students to choose their own preferred areas of specialism in future studies and in their professional career. 

Learning Outcomes 

By the end of this unit a student will be able to: 

1 Explain the different types, size and scope of organisations. 

2 Demonstrate the interrelationship of the various functions within an organisation and how they link to organisational structure. 

3 Use contemporary examples to demonstrate both the positive and negative influence/impact the macro environment has on business operations. 

4 Determine the internal strengths and weaknesses of specific businesses and explain their interrelationship with external macro factors.


Marketing Essentials

Introduction 

This unit is designed to introduce students to the principles of marketing, enabling them to develop a basic marketing plan and to employ elements of the marketing mix to achieve results. While they will learn the underpinning theories and frameworks, they will also be able to relate these to real-world examples, including products/services that they encounter in their own daily lives. Organisations such as Apple, Google, VISA, Burberry, Zara, Cadbury, Nestle, Unilever, Coca-Cola, Unicef, BP and small local businesses all have at least one thing in common: they all use marketing to influence us to engage with their products and/or services. Whether it is becoming a loyal customer buying a product and service or donating to a charity, organisations use a range of marketing techniques and tools to inform and influence us. The knowledge, understanding and skill sets that students will gain on successfully completing this unit will enhance their career opportunities; whether setting up their own business or being employed by an organisation. 

Learning Outcomes 

By the end of this unit a student will be able to: 

1 Explain the role of marketing and how it interrelates with other functional units of an organisation. 

2 Compare ways in which organisations use elements of the marketing mix (7Ps) to achieve overall business objectives. 

3 Develop and evaluate a basic marketing plan.


Human Resource Management

Introduction 

The aim of this unit is to enable students to appreciate and apply principles of effective Human Resource Management (HRM). People are the lifeblood of any organisation and being able to attract, recruit and retain talented staff is at the core of all HRM activity. This unit will explore the tools and techniques used in HRM to maximise the employee contribution and how to use HR methods to gain competitive advantage. Students will explore the importance of training and development in building and extending the skills base of the organisation and ensuring it is relevant to the ever-changing business environment. Students will also consider the growing importance of becoming a flexible organisation with an equally flexible labour force, and become familiar with techniques of job design and with different reward systems. The unit investigates the importance of good employee relations and the ways in which employers engage with their staff and possibly with trade unions. Students will gain an understanding of the law governing HRM processes as well as the best practices which enable an employer to become an ‘employer of choice’ in their labour market. Pearson BTEC Levels 4 and 5 Higher Nationals in Business Specification – Issue 6 – July 2019 © Pearson Education Limited 2019 99 

Learning Outcomes 

By the end of this unit a student will be able to: 

1 Explain the purpose and scope of Human Resource Management in terms of resourcing an organisation with talent and skills appropriate to fulfil business objectives. 

2 Evaluate the effectiveness of the key elements of Human Resource Management in an organisation. 

3 Analyse internal and external factors that affect Human Resource Management decision-making, including employment legislation. 

4 Apply Human Resource Management practices in a work-related context.