This unit provides knowledge and understanding of key business concepts and their practical application in the external and internal environment in which students will work. Students will gain an understanding of the legal system and principles of contract law and an appreciation of the legal implications of setting up a business and the consequences this may have. This unit will also give an understanding of how organisations are structured and where the finance function fits.

Percentage contribution of this unit to the overall qualification grade: 30%.

Learning outcomes

  • Understand the principles of contract law.
  • Understand the external business environment.
  • Understand the key principles of corporate social responsibility (CSR), ethics and sustainability.
  • Understand the impact of setting up different types of business entity.
  • Understand the finance function within an organisation.
  • Produce work in appropriate formats and communicate effectively.
  • Understand the importance of information to business operations.