Learning Outcomes Assessed:
LO3: Demonstrate an ability to investigate and explain how economic factors can affect business activities.
LO4: Explain challenges facing business in a global economy.
Sir Richard Branson is the founder of Virgin Group which owns a number of businesses ranging from Virgin Atlantic airlines to Virgin media. Sir Richard Branson is well known for the growth and success of his businesses, however due to the global pandemic the founder is in need for cash to keep all its businesses floating. The British government has brought out a range of measures that can help businesses during this difficult time. Sir Richard Branson has asked you to prepare a business report that he can present to his board of directors and shareholders on the level of influence that macro-economic activity can have on one of his business during this pandemic. You will need to refer to one business that is part of the Virgin Group like Virgin Atlantic airlines, Virgin Holiday, Virgin media.
You are required to write an individual business report, your report should cover an investigation into the following related to macro-economic activity and factors.
1. Explain two macro- economic factors that your chosen business will need to consider and the influences it could have on its business outputs (macro-economic factors e.g. economic output, unemployment rates, inflation,).
2. How will the UK current growth rate impact on your chosen business (give reference to economic life cycle, GDP, inflation, unemployment rate)
3. How can the government current intervention methods affect your chosen business? (e.g., fiscal and monetary policies, furlough scheme etc).
4. What are the current global challenges facing your chosen business with recommendations on how to overcome them in this current time?
You must choose one of the businesses that belong to the Virgin Group and refer to the same business throughout the report. You may use graphs, diagrams and tables, were you feel necessary.
Important and helpful information
Please refer to the Module Guide for information regarding indicative reading, guidelines for the preparation and submission of assignments, and the assessment criteria.
Guidelines for the preparation of Report:
1. Your report must be an individual report of no more than 1800 words and include answers to all four of the questions.
2. The business report MUST be pre-prepared by yourself and submitted (in a single file) into Turnitin.
3. The file must be submitted before 23:59pm on submission deadline day. Please ensure you follow the instructions provided by your module tutor.
Late work will be subject to the penalties:
· Up to 7 calendar days late = 10 marks subtracted but if the assignment would normally gain a pass mark, then the final mark to be no lower than the pass mark for the assignment.
· More than 7 calendar days late = This will be counted as non-submission and no marks will be recorded.
4. Structure of the Business Report:
Your report must contain graphs, diagrams and tables were necessary to demonstrate your findings.
Penalties for late submission/ not presenting on the specified date and time:
In the case of exceptional and unforeseen circumstances, an extension of up to 14 calendar days after the presentation date may be granted by your Director of Studies. You should complete an Extension Form available from a tutor and attach documentary evidence of your circumstances, prior to the deadline.
Requests for extensions for periods longer than 14 calendar days must be made using the Mitigating Circumstances procedures. Please see your Programme Handbook for further details.
Secondary Research Level HE4 – It is expected that the Reference List will contain between five and ten sources. As a MINIMUM the Reference List should include one refereed academic journal and two academic books
Specific Assessment Criteria:
First class A detailed description of macroeconomics concepts and their relevance to the chosen business scenario. Excellent understanding of macroeconomics concepts and their relevance to the business scenario is demonstrated. Excellent use of various academic sources and application to theory is evident.
Second class A clear description of macroeconomics concepts and their relevance to the chosen business scenario. Good understanding of macroeconomics concepts and their relevance to the business scenario is demonstrated. Good use of various academic sources and application to theory is evident.
Third class A satisfactory description of macroeconomics concepts and their relevance to the chosen business scenario. Some understanding of macroeconomics concepts and their relevance to the business scenario is demonstrated. Satisfactory use of various academic sources and application to theory is evident. Only the minimum of 5 sources has been provided, with at least one academic text and two academic journals included.
Fail: Students who do not meet the requirements of a third class grade will not successfully complete the assessment activity *Please note that if your work is referred you will not be able gain more than 40%.
Please also see your Module Guide for General Assessment criteria.
See Section 10 of your Programme Handbook for Guidelines for the Preparation and Submission of written coursework, which will give you details on how to submit your work electronically. You are required to submit only electronic copies.
· Do not cut and paste phrases or paragraphs from published sources. You should seek to use your own words to explain concepts and theory.
· If you wish to refer to specific quotes from published sources then you must use full Harvard presentation. See the referencing guidance in LEAP Online for clear guidance.