Module One

EXTERNAL INFLUENCES ON BUSINESS ACTIVITY

Introduction

This module should be read in conjunction with the Programme of Study.

The Programme of Study lists the topics that are in the module and gives you the relevant page references to your course book. This module aims to give you more direction as you work through the various topics. It will aim to highlight the most important items in the topic, as well as areas that need particular care. It will also point you towards the resources you should be using.

Remember to double-check the syllabus to make sure you cover all the items that you need to.

Module Overview

Module One introduces you to the various external factors that have a direct influence on businesses and business activity. You will learn how to analyse and evaluate these and how they influence a business’ decision-making process and strategy.

As you work through the topics in this module and carry out the reading and note-making as directed, please make sure you attempt all the activities in the textbook to test your understanding.  We also recommend that you read and think carefully about the Business in Context and Business in Action tasks. These have been designed to be completed in pairs or groups, but you should still reflect on the scenarios and case studies provided to help you understand key ideas.

You will find the answers to the textbook activities both in the digital textbook to which you have access and in General Resources. 

Top Tip

In each module, you will come across a lot of new ‘key words’ or business-related terminology. You will find a glossary on pages 619 to 634 of your textbook. There is also an interactive form of the same glossary provided in the digital textbook. It is vital to keep track of key terms as you work through the course. These are very important for gaining AO1 (knowledge and understanding) marks in examination questions. For short answer questions, you need to give a definition of the term stated (or implied) in the question. For essay questions, you do not need to give a definition of the term(s) in the question (although you can if you want to) as long as you correctly use the term in your answer. Highlighting new terms as you come across them will give you an ongoing record to use in your assignments and to learn before the AS exams.

Make sure you use the glossary provided on Canvas and record the key terms from each chapter as you go along so you can keep track of them as you work through the course. You may also find making flashcards of key terms (with the term on one side and the definition on the other) is a useful revision exercise. It’s a good idea to do this as you work through the modules rather than waiting to the end of the course.

N.B. You will also find a list of key formulae for A Level on pages 617 to 618.

Topics

Topic One (1.1): Political and Legal Influences

Topic Two (1.2): Social and Demographic Influences

Topic Three (1.3) Technological Influences

Topic Four (1.4): The Influences of International Trade, Competitors and Suppliers on a Business

Topic Five (1.5): Environmental Influences

Topic Six (1.6): Economic Influences 1

Topic Seven (1.7): Economic Influences 2

Topic Four (1.8): Consolidation