Major Forces Shaping the Global Business Environment
Recognise the major forces shaping the global business environment and gain an understanding of the changing global business environment;
Apply relevant business models (Porter’s Diamond, Value Network, and Five Forces) within the context of an international environmental analysis (PESTEL);
Identify and critically evaluate the reasons why organisations engage in international trade;
Assess markets in action, understanding their micro-economic and macroeconomic foundations, different market structures and their influence on firm strategy, long-run and short-run changes, and major features of the current international economy.
Based on Assessment 1, analyse the impact of the pandemic on the industry and develop survival and success factors for the industry with consideration to megatrends. Your analysis should be critical and relevant; you should exlore timely information and relevant newsletters from the selected brand.
NOTE: The guidance offered below is linked to the five generic assessment criteria overleaf.
Your work must be informed and supported by scholarly material that is relevant to and focused on the task(s) set. You should provide evidence that you have accessed an appropriate range of sources, which may be academic, governmental and industrial; these sources may include academic journal articles, textbooks, current news articles, organisational documents, and websites. You should consider the credibility of your sources; academic journals are normally highly credible sources while websites require careful consideration/selection and should be used sparingly. Any sources you use should be current andup-to-date, mostly published within the last five years or so, though seminal/important works in the field may be older. You must provide evidence of your research/own reading throughout your work, using a suitable referencing system, includingin-text citations in the main body of your work and a reference list at the end of your work.
Guidance specific to this assessment: students are expected to use at least 15 academic references to support their work and they should be selected from a variety of credible sources. Peer reviewed articles from top rank journals and books are particularly recommended and they can be used in conjunction with should try to pay attention to detail when organising their references in text and in the reference list.
At level 4, you should be able to demonstrate knowledge of the underlying concepts and principles associated with your area(s) of study. Knowledge relates to the facts, information and skills you have acquired through your learning. You demonstrate your understanding by interpreting the meaning of the facts and information (knowledge). This means that you need to select and include in your work the concepts, techniques, models, theories, etc. appropriate to the task(s) set. You should be able to explain the theories, concepts, etc. to show your understanding. Your mark/grade will also depend upon the extent to which you demonstrate your knowledge and understanding.
Applying Porter’s Diamond, Value Network, and Five Forces Models for International Environmental Analysis (PESTEL)
Guidance specific to this assessment: The student will need to select and apply the relevant global business environment concepts, techniques, models, theories, etc that are linked to the task. They can introduce and discuss the issues identified and its impact on the fashion industry in light of the impact of the fashion industry to the wider environment and the criticisms that this has brought to key players in this industry.
You should be able to present, evaluate and interpret qualitative and quantitative data, in orderto develop lines of argument and make sound judgements in accordance with basictheories and concepts of your subject(s) of study.You should be able to evaluate the appropriateness of different approaches to solving problems related to your area(s) of study and/or work. Your work must contain evidence of logical, analytical thinking. For example, to examine and break information down into parts, make inferences, compile, compare and contrast information. This means not just describing what! But also justifying: Why? How? When? Who? Where? At what cost? Youshould provide justification for your arguments and judgements using evidence that you have reflected upon the ideas of others within the subject area and that you are able to make sound judgements and arguments using data and concepts. Where relevant, alternative solutions and recommendations may be proposed.
Guidance specific to this assessment: the student should be able to demonstrate some element of critical analysis in the report. They should demonstrate how the different business environment models can be applied in practice using practical examples, data, graphs, etc in the report and should also engage the literature, introduce comparative and contrasting analysis, etc. More broadly, the student should apply some form of critical thinking to demonstrate knowledge and understanding of the relevant business management theories, concepts and models.
At level 4, you should be able to apply the basic underlying concepts and principles to evaluate and interpret these within the context of your area of study. You should be able to demonstrate how the subjectrelated concepts and ideas relate to real world situations and/or a particular context. How do they work in practice? You will deploy models, methods, techniques, and/or theories, in that context, to assess current situations, perhaps to formulate plans or solutions to solve problems, or to create artefacts. This is likely to involve, for instance, the use of real-world artefacts, examples and cases, the application of a model within an organisation and/or benchmarking one theory or organisation against others based on stated criteria. Guidance specific to this assessment: critically analyse and introduce the practical solutions and problems that have been solved by the organisation linked to the environmental concerns that have been raised by the different stakeholders. Compare that to some stated criteria for example competitor’s performance and industry average performance.
Your work must provide evidence of the qualities and transferable skills necessary for employment requiring the exercise of some personal responsibility. This includes demonstrating that you can communicate the results of your study/work accurately and reliably, and with structured and coherent arguments; that you can initiate and complete tasks and procedures, whether individually and/or collaboratively; fluency of expression; clarity and effectiveness in presentation and organisation. Work should be coherent and well-structured in presentation and organisation.