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Cover Legal Systems & Skills

19. Businesses and the business environment  

Scott Slorach, Judith Embley, Peter Goodchild, and Catherine Shephard

This chapter discusses the following: the importance of commercial awareness in understanding how businesses work; the main types of business structure (sole traders, partnerships, public and private companies), their organisation, and management; factors influencing management decisions; the environment in which businesses operate. It examines different markets, sectors, and industries, and the role of consumers within these markets; the increasing complexity of supply chains from business to consumer and the problems they face; the impact of competition within those different markets; and the challenges facing businesses within increasingly competitive global markets, including the advances in technology and environmental, social and governance issues (ESG).

Chapter

Cover Legal Systems & Skills

18. Businesses and the business environment  

Scott Slorach, Judith Embley, Peter Goodchild, and Catherine Shephard

This chapter discusses the following: the importance of commercial awareness; the main types of business structure, their organisation, and management; the different markets, sectors, and industries in which businesses operate, and the role of consumers within these markets; supply chains from business to consumer; and the impact of competition within different markets.