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Business Studies
Our business studies section offers comprehensive resources designed to deepen your understanding of fundamental business principles. Explore topics ranging from marketing to operations, tailored to support both academic and professional growth.
Government and EU influences on business activity
Our national government as well as the European Union play a big part in influencing business activity today:
through taxation and spendingthrough laws, directives and...
Legislation
Legislation is the process of making laws. This is done through Acts of Parliament, and 'rules', 'regulations' and 'bye laws' made by those who...
Globalisation
Globalisation is a result of the world becoming increasingly interconnected due to the hugely increased trade and cultural exchange. The biggest companies are no longer just...
Influences on businesses
Businesses operate in an external environment in which as well as competition from rivals businesses have to take account of legal, political, social and...
External influences
Businesses operate in an external environment in which as well as competition from rivals businesses have to take into account legal, political, social and...
Unemployment
Unemployment is typically associated with labour i.e. employees who make themselves available for employment not being able to find work. However, it can also...
Social and other opportunities and constraints
Opportunities in the business environment are those factors that provide possibilities for a business to expand so as to make more sales and profits....
How the Business Environment Shapes Activity: Understanding Environmental Constraints
Businesses operate within a complex environment that influences and limits their activities. These constraints, also known as external factors, come from outside the business...
The external environment
A business converts inputs into outputs in order to make a profit. However, the business does not exist in a vacuum, it exists within...
SLEPT Analysis
Introduction: Understanding Your Business Environment
Succeeding in business demands external awareness. SLEPT analysis offers a powerful strategic framework. It examines social, legal, economic, political, and...
Ethics
Big businesses command a lot of power and are able to choose between working in a way that benefits only the owners, and in...
Economic conditions
Before creating business plans or when evaluating existing ones it is important to 'scan' the external environment.
This takes the form of a SLEPT...
Growth
Businesses grow for a number of reasons including to take advantage of a gap in the market, gain a competitive advantage over rivals, and...
Exchange rates
Money is demanded in order for it to be used to buy and sell goods and services. The same applies to international currency. Foreigners...
Planned market and mixed economies
Three main sets of decisions need to be made by the economic system - what to produce, how to produce, and how to share...
Responding to social responsibilities and ethics
Businesses work in a wider social environment in which they have a responsibility to a range of stakeholders including the wider community.
The term Corporate...
Consumer protection
Consumer protection is the process of defending consumers against unscrupulous practices by producers and sellers. Over time, case law in this country has developed...
Legal protection for customers
Consumer protection is the process of defending consumers against unscrupulous practices by producers and sellers. Over time, case law in this country has developed...
Marketing and the law
Marketing is designed to achieve profitable sales. It involves the use of powerful tools to manipulate the decisions of individuals and of other firms...
Protecting the customer
There are a number of laws that protect the customer against the actions of unscrupulous manufacturers and sellers.
Particularly important are the Sale of Goods...