The Business EnvironmentModule Details

Rationale

This course will allow the students to explore and appreciate the concept of Business Environment which is considered an important subject in the management field.  The students will gain an understanding of the socio-economic factors, and dimensions that shape and influence both the internal and external business environments. Moreover, the course aims to examine customer’s needs and market innovations and their impact on the business environment. The students will develop the knowledge and skills to analyse the current and future business environment and the ways it gains a competitive advantage, by identifying business opportunities and threats, tapping into useful resources and recognising changes and trends.

Learning Outcomes

At the end of the course students will be expected to:
(i)    Define the concept of business environment.
(ii)   Analyse the various categories that constitute the business environment.
(iii)  Apply various approaches and policies to manage both internal and external environments.
(iv)  Demonstrate a critical understanding of the economic, social, technological, cultural and demographic factors that play an important part in the organisation’s functioning.
(v)   Identify business opportunities, quality products and services within the factors that constitute the business environment.
(vi)  Evaluate opportunities and recent trends to be implemented and identify threats to be avoided. 
(vii) Analyse how project managers can improve business performance and operations through internal and external profits.