Progress onto University Final Year

Extended Diploma in Business and Management

University 2nd Year (Level 5 – 120 credits)

The Level 5 Extended Diploma in Business and Management is 120-credit Ofqual regulated qualifications that is the equivalent level to the second year of a bachelor’s degree. The Level 5 Extended Diploma in Business and Management has been designed for learners who wish to develop the skills and knowledge required for roles in management roles. The course has also been developed with progression in mind and enable learners to continue on to a range of Bachelor’s degrees.  After completing the Diploma, the learners can progress to the final year of a bachelor degree.

To obtain the Extended Diploma in Business and Management learners must achieve the four Mandatory Units PLUS four Optional Units.

Total Qualification Time: 1200 Hours

Total Guided Learning Hours: 480

Total Credit Value: 120

Unit Codes	Unit Title	Level	Credit	GLA
Mandatory Units
K/617/1175	Business Organisations in a Global Context	5	15	60
M/617/1176	Research Project	5	15	60
H/617/1174	People Management	5	15	60
T/617/1213	Finance for Managers	5	15	60
Optional Units
J/617/1250	Small Business Enterprise	5	15	60
T/617/1244	Planning a New Business Venture	5	15	60
A/617/1245	Operations Management	5	15	60
D/617/1223	Business Ethics	5	15	60
F/617/1246	Information for Strategic Decision Making	5	15	60
F/617/1215	Financial Systems and Auditing	5	15	60

Business Organisations in a Global Context

This unit develops learners understanding of the issues organisations face operating within a global context.  This understanding will allow learners to review the issues currently impacting on business organisations. The learner will:

• Understand differences in global business operations
• Understand the impact of external factors on global business organisations
• Understand the impact of globalisation on the internal operations of business organisations
• Be able to review current issues that impact on business activities of a specified country

Research Project

The aim of this unit is to develop the skills required for the learner to formulate an appropriate research question and to design and undertake a research project to answer that research question. The learner will also need to interpret the outcomes of their research and present them to an audience. The learner will:

• Be able to design a research project

Selecting a research question

Identifying the objectives of the research -what is the researcher, or their organisation, interested in finding out and why.

Project resourcing - how much time and resource is needed to undertake the research and is this available.

Skills and knowledge - does the researcher have access to appropriate skills and knowledge, including individual expertise and literature, necessary for them to undertake the research

Formulating a research question

Stating the research question in terms of the research objectives

Identifying what is to be included in the scope of the research and what is to be excluded

Identifying a suitable research methodology

Use of primary and secondary data –accessing relevant information

Data Collection –surveys, interviews, observation, Focus Groups, literature review etc.

Ethical issues

Data analysis –qualitative, quantitative, statistical

Gathering information –company documentation, outcomes of similar research, reading about ow to implement research methodologies, theoretical concepts and ideas etc.

Project Planning

Project tasks –primary and secondary data collection, data analysis, write-up, presentation

Project timelines –sequence, task duration, start and end dates

Project monitoring –risk factors and mitigation, key milestones, review dates

Use of project resources –human, financial, technical, physical.

• Be able to undertake a research project in line with a research project plan

Undertaking research

Application and implementation of the research project plan, including data collection, data analysis, write-up and presentation

Retaining focus on the intended purposes and outcomes of the research

Systematic recording of data and information

Taking account of bias, validity and reliability of information and control of variables

Consideration of the sufficiency of the data and information collected

Analysing data –qualitative, quantitative, trend analysis, statistical analysis

Presentation of data –graphs, tables, bar charts, pie charts, case studies, quotes etcMonitoring progress

Monitoring the project including paying attention to resource and time allocation

Modifying the plan in relation to monitoring information

Adhering to the scope of the research Evaluating the research project

Review the successes and difficulties encountered in the project e.g. delivering the purposes and outcomes of the project, effectiveness of the project plan and research methods used, volume, validity and value of the data

• Be able to evaluate research outcomes

Understand to what extent the research outcomes answer the research question

Understand the limitations of the research and what improvements could be made Developing recommendations including possible areas for future research or changes to the research methodology

Reach conclusions

Understand the significance, application, and possible impact of the research outcomes

• Be able to present the research outcomes

Consider the prior knowledge and information needs of the audience

Consider business expectations and norms for presentation

Consider the advantages and disadvantages of different communication methods e.g. written and spoken presentation, visual representation etc.

Select an appropriate presentation media

Be able to deliver a professional written or spoken presentation

Present research projects and research outcomes accurately

Reporting conclusions. Depending on the nature of the research recommendations based on the research outcomes could also be produced.

People Management

This unit will enable learners to understand how to manage individuals and teams. They will study organisational factors and how these impact on and influence individual and team behaviour, as well as learning management tools and techniques to help them effectively manage individuals and teams. The learner will:

• Understand how structure, culture and other factors impact on people in organisations
• Understand how to manage individuals and teams in order to achieve sustainable business performance
• Understand how to develop individuals and teams in order to achieve sustainable business performance
• Be able to review people management strategies in an organisation

Finance for Managers

The unit aims to equip learners with the knowledge and understanding of the sources and use of finance in organisations and how to evaluate and interpret financial data. The learner will:

• Understand the sources of finance available to organisations
• Be able to assess an organisation’s financial performance
• Be able to use costing methods to make informed organisational decisions

Planning a New Business Venture

This unit will develop knowledge and understanding of new business ventures and skills associated with planning a venture.  By studying this unit, learners will develop an understanding of business types and the factors that determine the success or otherwise of a new business venture. They will also learn how to determine the market potential of a new business and develop an associated business plan.

• Understand how to determine the market potential of a new business venture

Market conditions:  PEST (Political, Economic, Social/Ethical, Technical); Competitor analysis e.g. characteristics and strategies of the competition; Estimating the market size;

Market need: PEST (political, economic, social, technological); Gap analysis; Market conditions; Specifying a product to meet the need e.g. details, dimensions, purpose, longevity, target market, international or national market, pricing, distribution, and marketing; New products or services; Emerging trends e.g. due to aging population, because of new technology; Changing requirements

Target markets: Socioeconomic; Age; Gender; Occupation; Sources of finance; Special factors; Personality indicators; Geographical

Potential benefits, limitations and risks for the proposed new business venture: Potential benefits - ownership, control, managing risk Potential limitations - growth, image, operations, finance

Potential risks - unlimited liability, loss of control e.g. to shareholders, closure, bankruptcy/insolvency

Understand the legal forms of new business ventures: Legal and regulatory considerations; Health and safety; Environmental; Employment and redundancy; Contract; Insurance; Data protection; Equality

• Be able to develop a business plan

Vision and mission; Market conditions; Target market; Market gaps Skills/experience; Project Management; Business Planning; Marketing; Accountancy/book-keeping; Leadership; Communication skills both oral and written; Delegation; Organisation; Sales; Customer relations; People Management Other resources; Human (fully committed and capable personnel); Financial (financially secure, access to funding); Physical (suitable premises, equipment); Mentoring (support, guidance) and training; Information (in-depth knowledge of industry, stakeholders etc.) Financial requirements; Financial forecasts Physical forecasts; Sales forecasts; Short and longer term Business structures and systems; Organisational structure; Resource management systems; Supply chain management; Technology requirements/systems Strengths, weaknesses, risks and mitigations; SWOT analysis; Risk identification and register; Use of contingency funds; Closure; Insolvency and bankruptcy; New markets; Risk mitigation

• Understand how to secure funding for a new business venture

Sources of finance: Savings; Loans; Profit; Investors; Share capital; Crowd funding; Private equity; Pitching for funding; Application forms; Meetings with funding providers

Benefits and risk associated with different sources of funding

Savings

Benefit –No interest to pay back

Risk –Could lose savings if business is not successful

Loans

Benefit –A range of funding amounts and payback options.  Retain equity in the business.  Enables personal money to be used for operational purposes and savings are protected if business is not successful

Risk –Interest rates and payments must be paid back and on time whether the business succeeds or not

Investors

Benefit - Extends financial risk over more than one person

Risk - Potentially give up a certain element of control over the business