Students of this course should study business in a variety of contexts (eg large/small, UK focused/global, service/manufacturing) and consider:
the importance of the context of business in relation to decision making
the interrelated nature of business activities and how they affect competitiveness
the competitive environment and the markets in which businesses operate
the influences on functional decisions and plans including ethical and environmental issues
the factors that might determine whether a decision is successful eg the quality of data and the degree of uncertainty
how technology is changing the way decisions are made and how businesses operate and compete
the impact on stakeholders of functional decisions and their response to such decisions
use of non-quantitative and quantitative data in decision making (including the interpretation of index numbers and calculations such as ratios and percentages). See Annex: Quantitative skills in Business