FE4055 Understanding the Business and Economic Environment 2020/21 Spring Term Individual Coursework Marking Scheme 1. Individual Coursework Marking Criteria and Grading Standards The performance of students is assessed by the assessment method – ‘Individual Coursework’ as appropriate to the level and learning outcome of the assessment protocol. The individual coursework constitutes 100% assessment weighting for … Continue reading “Marking Criteria and Grading Standards | My Assignment Tutor”
FE4055 Understanding the Business and Economic Environment 2020/21 Spring Term Individual Coursework Marking Scheme 1. Individual Coursework Marking Criteria and Grading Standards The performance of students is assessed by the assessment method – ‘Individual Coursework’ as appropriate to the level and learning outcome of the assessment protocol. The individual coursework constitutes 100% assessment weighting for this module. Students are required to write an individual coursework/essay (1450-1500 words) by discussing the following questions. Identify one industry from the UK Standard Industrial Classification (SIC 2007) and choose a UK public limited company (PLC) from the industry. [5 Marks]One of the most important and influential elements of the business environment is the structure of the industry. Briefly discuss the structure of your chosen industry. [5 Marks]Briefly discuss the business organisation and its nature of your chosen company (a UK PLC) in relation to the structure of the industry. [5 Marks]Use the Social, Technological, Economical, Environmental, Political, Legal and Ethical (STEEPLE) analysis to analyse the external business environment of the chosen company over the last 5-10 years. Students are expected to discuss each factor separately, for example, consider in what ways technology (T) might influence the organisational structure of a business. Students must discuss the four bullet points listed as below for the microeconomic and macroeconomic factors, and are allowed to extend their discussions beyond the four bullet points: Social factor analysis [10 Marks] Technological factor analysis [10 Marks] Environmental factor analysis [10 Marks] Political factor analysis [10 Marks] Legal factor analysis [10 Marks] Ethical factor analysis [10 Marks] Economical factor analysis (see the suggested marks from the bullet points below) Identify the microeconomic factors that affect the demand for goods and/or services of your chosen company and the factors for the market demand. Draw a demand curve diagram to illustrate your answer. [5 Marks] List the determinants of the supply of the business and identify what would cause the supply of goods and/or services to fall/rise. Draw a supply curve diagram to illustrate your answer. [5 Marks]Discuss the competitiveness of the UK market and its impacts on the future of the business. [5 Marks]Give some examples of ‘random shocks’ that could undermine the UK government’s fiscal policy and discuss if there is any fiscal policy could have an impact on the UK’s economy and the business of your chosen company. [5 Marks]Research and discuss the business problems and challenges the chosen company faces and criticise on the external effects of a business decision on themselves/customers/employees/rivals and on the public at large. [5 Marks] [Total Marks: 100] It is recommended to write your essay with the structure of: Cover Page with your student ID, Module Code and Name, Date for Submission, Word CountsIntroductionMain Body used for answering these questionsConclusionReferencesAppendix (not compulsory) Overall, the essay will be assessed based on the above marking rubrics, standards and criteria as below, and follows the GSBL general grade descriptors. Content: accuracy, relevance, focus and coverageConstruction of argument: integration and coherence of structureQuality of argument: evidence of understanding, judgement, critical analysis, originality, logic and synthesisReading and research: demonstration of independent readingQuality of communication: overall presentation, language and clarity. 2. GSBL General Grade Descriptors GSBL GENERAL GRADE DESCRIPTORS GeneralLevel 3/4 Acquisition of broad knowledgeEvaluate informationUse information to plan, develop and problem solve Level 5 Generate ideas through analysing conceptsDemonstrate a command of specialised skillsFormulate responses to well defined and abstractAnalyse and evaluate informationLevel 6 Critically review, consolidate and extend a body of knowledge using specialised skillsCritically evaluate concepts and evidence from a range of sourcesTransfer and apply skills and exercise significant judgement in a range of situations70-100 (A)Very good Demonstration of very good comprehension of the task with evidence of analysis, synthesis, evaluation and critical appraisal Use of a wide variety of appropriate sources Transformation of knowledge Independent thinking and development of ideas Ability to communication very clearly and effectively Very good evidence of preparation Very good organisation, structure and presentation of work – minimal errors Good references, appropriate sources (quality and quantity). No errors in reference list or citations. Excellent Advanced scholarship Goes beyond the material provided Excellent link to research Excellent analysis, synthesis, evaluation and critical appraisal Excellent evidence of preparation Comprehensive and critical understanding of the topic Excellent ability to communicate clearly and effectively Excellent organisation, structure and presentation of work Good references, appropriate sources (quality and quantity). No errors in reference list or citations.Excellent – Outstanding (for use at far end of range) Outstanding understanding, exploration and insight Strong evidence of originality and development of own ideas Develop a highly complex argument Outstanding ability to communicate topics clearly and concisely Advanced organisation, structure and presentation of work Good references, appropriate sources (quality and quantity). No errors in reference list or citations. References well utilised and critiqued60-69 (B)Very good Demonstration of very good comprehension of the task with evidence of analysis, synthesis, evaluation Use of a wide variety of appropriate sources Transformation of knowledge Independent thinking and development of ideas Ability to communication clearly and effectively Very good evidence of preparation Very good organisation, structure and presentation of work – minimal errors Good references, appropriate sources (quality and quantity). Minimal or no errors in reference list or citations. Very good Demonstration of very good comprehension of the task with evidence of analysis, synthesis, evaluation Use of a wide variety of appropriate sources Transformation of knowledge Independent thinking and development of ideas Ability to communication clearly and effectively Very good evidence of preparation Very good organisation, structure and presentation of work – minimal errors Good references, appropriate sources (quality and quantity). Minimal or no errors in reference list or citations.Very Good Advanced scholarship Goes beyond the material provided Very good link to research Very good analysis, synthesis, evaluation and critical appraisal Very good evidence of preparation Comprehensive and critical understanding of the topic Very good ability to communicate clearly and effectively Very good organisation, structure and presentation of work Good references, appropriate sources (quality and quantity). No errors in reference list or citations.50-59 (C)Adequate – Satisfactory Some analysis but limited Some insight and exploration of ideas Sound conclusions No significant inaccuracies or omissions Some analysis, evaluation or synthesis of information Lacking clarity at times Some evidence of preparation Referencing is sound. Mostly appropriate sources. Numerous errors or inconsistencies Adequate – Satisfactory Some evidence of thinking independently to develop own ideas Evaluation of relevant theories or literature Reasonable ability to communicate clearly and effectively Report information in a structured way Use of an appropriate format Quite comprehensive knowledge Satisfactory evidence of preparation Satisfactory referencing, appropriate sources. Numerous but minor errors in referencesAdequate- Satisfactory Evidence of thinking independently to develop own ideas Evaluation of relevant theories or literature Ability to communicate clearly and effectively Report information in a structured way Use of an appropriate format Reasonably Accurate, quite comprehensive knowledge Satisfactory evidence of preparation Coherent and well presented – minor errors Satisfactory referencing, appropriate sources. Minor errors in references 40-49 (D)All learning outcomes met Competent (practical) May be incomplete in knowledge (some errors or omissions) Insufficient analysis, evaluation or synthesis Limited application of theories/knowledge An awareness of appropriate principles/theories/techniques Irrelevance to the task at times Disorganised work with weak standard of presentation Numerous aberrations from the requirements of the task Referencing is attempted although may be inconsistent, many errors, weak sources All learning outcomes met Competent (practical) May be incomplete in knowledge (some errors or omissions) Weak or no analysis, evaluation or synthesis Some application of theories/knowledge An awareness of appropriate principles/theories/techniques Irrelevance to the task at times Disorganised work with weak standard of presentation Aberrations from the requirements of the task Referencing is attempted although may be inconsistent, many errors, weak sources All learning outcomes met Competent (practical) May be incomplete in knowledge (some errors or omissions) Weak or no analysis, evaluation or synthesis Some application of theories/knowledge An awareness of appropriate principles/theories/techniques Irrelevance to the task at times Disorganised work with weak standard of presentation Aberrations from the requirements of the task Referencing is attempted although may be inconsistent, many errors, weak sources Condoned Pass 30-39 (F1)Learning outcomes not met Little relevant knowledge Lacking structure Numerous errors in structure and form Limited understanding of concepts/theories No appropriate analysis, evaluation or synthesis Significant inaccuracies/omissions Not competent Little or no attempt to use references and if so very weak with errors Learning outcomes not met Little relevant knowledge Lacking structure Numerous errors in structure and form Limited understanding of concepts/theories No appropriate analysis, evaluation or synthesis Significant inaccuracies/omissions Not competent Little or no attempt to use references and if so very weak with errorsLearning outcomes not met Little relevant knowledge Lacking structure Numerous errors in structure and form Limited understanding of concepts/theories No appropriate analysis, evaluation or synthesis Significant inaccuracies/omissions Not competent Little or no attempt to use references and if so very weak with errorsUnder 30 (F2)Little engagement with the task No basic understanding of the subject matter Poor communication (written or verbal) Lacking or no structure Significant errors in structure and form Many significant inaccuracies/omissions – very little correct Little or no attempt to use references and if so very weak with many significant errorsLittle engagement with the task No basic understanding of the subject matter Poor communication (written or verbal) Lacking or no structure Significant errors in structure and form Many significant inaccuracies/omissions – very little correct Little or no attempt to use references and if so very weak with many significant errorsLittle engagement with the task No basic understanding of the subject matter Poor communication (written or verbal) Lacking or no structure Significant errors in structure and form Many significant inaccuracies/omissions – very little correct Little or no attempt to use references and if so very weak with many significant errors (0%)No submission Nothing of relevance in the work submittedNo submission Nothing of relevance in the work submitted No submission Nothing of relevance in the work submitted
