30 Apr DESCRIBE HOW DIFFERENT BUSINESS FUNCTIONS RESPOND TO CHANGES IN THE BUSINESS ENVIRONMENT.
It may be argued that the global business environment is experiencing a shift in the balance of power away from the dominance of the triad economies (USA, Europe and Japan) to the emerging and transition economies of the BRICS and possibly the MINT countries. Some analysts believe that China will overtake the USA as the worlds largest economy (measured by GDP) by 2050 (PwC, 2015).
It is evident that we are living in a period of transition and change, as history tells us that economic powers rise and fall. Nations that are currently strong economically may see their influence diminish, whilst emerging economies will begin to dominate the global business environment, and consequently shape its future. This will inevitably impact on the way in which business is conducted in the mid to late 21st century. For example will the global business environment continue to be dominated by the West and in particular the United States of America?
Task:
Discussion Statement:
The global business environment in the mid to late 21st century will no longer be dominated by the major Triad economies of the 20th century and there will be a shift in power towards the emerging and transition economies such as the BRICS nations.
You are required to complete the following task:
• Write a 1,500 word essay arguing for or against the discussion statement above, including consideration of the implications for the global business environment.
• You will need to discuss the global business environment from the perspective of the changes being experienced at the state level particularly relating to economic power and hegemony.
• You will need to include appropriate academic sources and references, along with relevant data and statistical evidence in your essay.
• Conclude by providing an evaluation, based on your research and discussion, how you see the global business environment being affected and/or influenced by these changes.
Remember to:
• Base your discussion on academic literature and evidence
• Include data such as tables, charts, graphs and statistics to support your discussion, either within the body of the essay or as appendices
• Use examples, as this evidences the connection between theory and practice
• Include sufficient and appropriate academic literature and references to support your discussion
• Specify the word count at the end
• Include a reference list correctly formatted using Harvard Referencing
The assessment is to be written as an academic essay using an appropriate writing style.
Marking Criteria:
Component Weight Criteria
Discussion 60% Relevance to the economy and the state, key principles/terms identified, discussed and where applicable quantified, relevance & significance to global business environment, use of examples, use of academic literature & application of theory.
Evidence 20% Use of relevant and appropriate data and statistics in the form of charts, tables, graphs, infographics, statistics etc.
Communication 10% Writing style, structure & coherence, proofing, overall presentation.
Referencing 10% Quotes, credibility of sources, formatting of in-text citations and reference list.
Group or Individual Work: Individual Work
This assessment is to be completed as Individual work.
Type of Assessment: Summative
This assessment is summative, i.e. it is graded.
Learning Outcomes Assessed:
This assessment will assess the following learning outcomes:
Learning Outcome Assessed
1. Identify a range of issues and debates through which to illustrate the impact of the business environment on business activity. ?
2. Evaluate the conceptual categorisation of the business environment, and use models based on this categorisation in analysis. ?
3. Describe how different business functions respond to changes in the business environment. ?
4. Use, interpret and understand a range of statistical and non-statistical tools and techniques to analyse business data and information. ?
5. Reflect upon learning and make connections between issues, business activity and appropriate data. ?
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