BMP4003 Business Environment Economic Life Cycle

Question:

Demonstrate an ability to investigate and explain how economic factors can affect business activities.

Explain challenges facing business in a global economy.

Sir Richard Branson is the founder of Virgin Group which owns a number of businesses ranging from Virgin Atlantic airlines to Virgin media. Sir Richard Branson is well known for the growth and success of his businesses, however due to the global pandemic the founder is in need for cash to keep all its businesses floating. The British government has brought out a range of measures that can help businesses during this difficult time. Sir Richard Branson has asked you to prepare a business report that he can present to his board of directors and shareholders on the level of influence that macro-economic activity can have on one of his business during this pandemic. You will need to refer to one business that is part of the Virgin Group like Virgin Atlantic airlines, Virgin Holiday, Virgin media.

You are required to write an individual business report, your report should cover an investigation into the following related to macro-economic activity and factors.

  1. Explain two macro- economic factors that your chosen business will need to consider and the influences it could have on its business outputs (macro-economic factors e.g. economic output, unemployment rates, inflation,).
  2. How will the UK current growth rate impact on your chosen business (give reference to economic life cycle, GDP, inflation, unemployment rate)
  3. How can the government current intervention methods affect your chosen business? (e.g., fiscal and monetary policies, furlough scheme etc).
  4. What are the current global challenges facing your chosen business with recommendations on how to overcome them in this current time?
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