sale of assets close asset Something a business owns that has monetary value such as a delivery van or money in the bank. crowdfunding close crowdfunding Raising finance for a project by gathering sums of money from a large group of people. Candidates develop their understanding of how large organisations in the private, public and third sectors operate, make decisions and pursue their strategic goals. They analyse the impact that internal and external environments have on an organisation’s activity and consider the implications of these factors. debentures close debenture A medium- to long-term loan used by large companies to borrow money, at a fixed rate of interest.

This can impact profits. If the rate of VAT is raised a company will need to increase their selling price which may reduce sales

debt factoring close debt factoring When a business looks to sell off their debt with the aim of gaining short-term finance.

businesses from making agreements with other firms when tendering close tendering The process of making a formal offer to carry out work, supply goods, or buy land, shares, or another asset for a fixed price. for projects. If they are found to be doing this they may be fined for anti-competitive behaviour The vote to leave the European Union, also known as Brexit will have an impact on the way UK firm’s trade with the EU single market Candidates develop their understanding of the issues that large organisations face when managing people and finance. They learn about the relevant theories, concepts and procedures used by organisations when dealing with staff and financial situations. This means that a business may have to change the way it works, for example by training its staff or upgrading its machinery or safety equipmentBusiness plays an important role in society, as it creates wealth, prosperity, jobs and choices for consumers. It is therefore essential to have effective businesses and business managers to sustain this role. This course helps candidates understand the dynamic, changing and competitive environment of industry and commerce, and the environments that organisations operate in. It develops skills in communicating and presenting business-related information to stakeholders of an organisation. Assessment for the course award is provided in the form of a course assignment and final exam. You will sit the final exam either in our exam centre in Perth or at a centre closer to you. SHO staff can help you plan your exam sitting. mergers close merger When two companies decide to join together. or takeovers close takeover When one business tries to gain control of or acquire another business. Unlike a 'merger', this does not have to be a mutual agreement between both businesses. that would lead to a considerable decrease in competition in the market. Businesses may be forced to sell off branches or divisions to ensure that enough competition remains in the market