Units - HND in Business
Unit 1 : Business and the Business Environment
(T/618/5032)
Business activity is fundamental and universal to our everyday lives. Business organisations may differ in many ways, depending on the industry in which they operate globally, but they do share one common feature: the transformation of inputs into outputs. This transformation process takes place against a background of external influences that impact on business activity. The external environment in which business organisations operate is dynamic, complex, volatile and interactive.
The aim of this unit is to give students background knowledge and understanding of business, of the functions of an organisation and of the wider business environments in which organisations operate. Students will examine the different types of organisations (including for profit and not for profit), their size and scope (for instance micro, SME, transnational and global) and how they operate. Students will explore the relationships that organisations have with their various stakeholders and how the wider external environments influence and shape business decision making.
The knowledge, understanding and skill sets that students gain in this unit will help them to have an insight into different business functions, which will support them with further study, support the development of analytical thinking and the application of key analytical tools used throughout business planning, and enable them to choose their preferred areas of specialism in future studies and in their professional career.
Learning Outcomes
LO1 : Explain the different types, size and scope of organisations
LO2 : Demonstrate the interrelationship of the various functions within an organisation and how they link to organisational structure
LO3 : Use contemporary examples to demonstrate both the positive and negative influence/impact the macro environment has on business operations
LO4 : Determine the internal strengths and weaknesses of specific businesses and their interrelationship with external macro factors
Unit 2 : Marketing Processes and Planning
(A/618/5033)
Large, medium and small businesses that operate globally, internationally or locally have at least one thing in common – they all use marketing to influence us to engage with their products and/or services. Whether this means becoming a loyal customer buying a product and service or donating to a charity, organisations use a range of marketing techniques and tools to inform and influence us.
This unit is designed to introduce students to the dynamic world of the marketing sector and the wealth of exciting career opportunities available to support their decision making in their career choices. Students will have the opportunity to learn about the competencies and behaviours required by employers to work in the marketing sector. They will be introduced to the key principles of marketing, enabling them to develop a marketing plan and to employ elements of the marketing mix to achieve results. They will study the underpinning theories and frameworks of marketing while relating them to real-world examples, including products/services that they encounter in their daily lives.
The knowledge, understanding and skill sets that students will gain on successfully completing this unit will enhance their career opportunities; whether this is setting up their own business or employment in an organisation.
Learning Outcomes
LO1 : Explain the role of marketing and how it interrelates with other functional units of an organisation
LO2 : Compare ways in which organisations use elements of the marketing mix to achieve overall business objectives
LO3: Produce a marketing plan for an organisation that meets marketing objectives Develop and evaluate a basic marketing plan
LO4 : Develop a media plan to support a marketing campaign for an organisation.
Unit 3: Human Resource Management
(J/618/5035)
This unit will give students the knowledge and skills associated with Human Resource (HR) occupational roles at either a generalist level, for example HR Assistant/HR Advisor/Business Partner, or more specialist roles in areas such as recruitment, talent acquisition and performance and reward management. Students will explore the nature and scope of HRM and the organisational context of people management, including recruitment and retention, training and development, reward systems, employment relations and associated legislative frameworks.
The aim of the unit is to enable students to understand and be able to apply principles of effective HRM in order to enhance sustainable organisational performance and contribute to organisational success, holding business outcomes and people outcomes in equal balance. Students will apply HR practices in a work- related context, utilising their knowledge and practising skills and behaviours in relevant professional areas, including resourcing, talent planning and recruitment, learning and development and employee engagement.
On completion of the unit, students will understand the purpose and scope of HRM activities. They will be able to apply a range of people-management skills to enhance the performance of an organisation by finding solutions to people-related problems.
Learning Outcomes
LO1: Explain the impact of the role of HRM in creating sustainable organisational performance and contributing to business success
LO2: Assess the contribution of HRM in recruiting and retaining talent and skills to achieve business objectives
LO3 : Examine how external and internal factors can affect HRM decision making in relation to organisational development
LO4 : Apply HRM practices in a work-related context for improving sustainable organisational performance
Unit 4 : Leadership and Management
(L/618/5036)
The ability to lead and manage effectively is highly sought after by industry, as employers seek to produce and develop managers who can motivate, enthuse and build respect throughout their workforce. The hard and soft skills required by leaders and managers are frequently highlighted by employers as skills gaps in recruitment. Developing these skills will help students to meet career aspirations in leadership and management.
The aim of this unit is to help students to understand the difference between the function of a manager and the role of a leader. Students will consider the characteristics, behaviours and traits that support effective management and leadership. Students will learn about the theories that have shaped the understanding of leadership and management and how these have provided a guide to action for managers and leaders who want to secure success for their businesses. Students will look at leadership styles, how and why they are used and the extent to which they are effective.
This unit also gives students an understanding of motivational strategies. They will develop motivational strategies covering intrinsic and extrinsic aspects of motivation. Finally, students will evaluate the importance of managing performance in achieving continuous improvement.
Learning Outcomes
LO1 : Examine leadership and management theories and principles, and their impact on the effectiveness of an organisation
LO2 : Review the influence of different leadership and management styles on the culture of organisations
LO3 : Develop a motivational strategy to optimise organisational performance
LO4 : Apply leadership and management approaches to managing performance to ensure continuous improvement.
Unit 5 : Accounting Principles
(Y/618/5038)
Management accounting is a profession that supports management decision making, planning and performance management systems. Management accountants provide expertise in financial reporting and control to assist management in the formulation and implementation of an organisation’s strategy by providing appropriate financial information and undertaking related accounts administration.
The overall aim of this unit is to introduce fundamental accounting principles that underpin financial operations and support good and sustainable decision making in any organisation. Students will develop a theoretical and practical understanding of a range of financial and management accounting techniques.
On successful completion of this unit, students will be able to assist senior colleagues in producing and analysing budgets, drawing up simple financial statements and using financial ratios to interpret performance. Students will also explore wider aspects of accountancy, especially ethics, transparency and sustainability, and gain fundamental knowledge and skills that will enable them to progress to a higher level of study.
Learning Outcomes
LO1 : Examine the context and purpose of accounting
LO2 : Prepare basic financial statements for unincorporated and small business organisations in accordance with accounting principles, conventions and standards
LO3 : Interpret financial statements
LO4 : Prepare budgets for planning, control and decision-making using spreadsheets.
Unit 6 : Managing a Successful Business Project
(D/618/5039)
This unit is a Pearson-set unit. The project brief will be set by the centre, based on a theme provided by Pearson (this will change annually). The theme and chosen project within the theme will enable students to explore and examine a relevant and current topical aspect of business in the context of the business environment.
The skills of project management are highly sought after by employers in all areas of business, as the ability to plan, procure and execute a business project efficiently requires a range of specific skills in leadership, time management, problem solving, budgeting and communication.
The aim of this unit is to offer students an opportunity to demonstrate the skills required for managing and implementing a small-scale business project. They will undertake independent research and investigation for carrying out and executing a business project that meets appropriate business aims and objectives.
On successful completion of this unit, students will have the confidence to engage in decision making, problem solving and research activities using project-management skills. They will have the fundamental knowledge and skills to enable them to investigate and examine relevant business concepts in a work-related context, determine appropriate outcomes, decisions or solutions and present evidence to various stakeholders in an acceptable and understandable format.
Please refer to the accompanying Pearson-set Assignment Guide and Theme and Topic Release document on HN Global for further support and guidance on the delivery of the Pearson-set unit.
Learning Outcomes
LO1 : Explain the key stages of the project lifecycle that should be considered when project managing
LO2 : Produce a Project Management Plan (PMP) for a business project using primary and secondary research methods
LO3 : Implement the Project Management Plan (PMP) to communicate results from the research and make conclusions from the evidence of findings
LO4 : Reflect on value gained from implementing the project and the project management process.
Unit 8 : Innovation and Commercialisation
(D/618/5042)
This unit aims to give students a comprehensive understanding of innovation and commercialisation. In today’s competitive landscape it is critical that organisations continually innovate both their product offering and processes to ensure that they remain competitive in the market. Adopting a more commercially driven approach is vital to maximise the Return on Investment (ROI).
In this unit, students will look at a number of tools and techniques that organisations use to drive innovation and become more commercial in their approach. The unit gives students cutting-edge knowledge as well as practical application of the key ways in which organisations become more innovative while remaining commercially driven.
By the end of the unit, students will have gained an understanding of how innovation is fostered, harnessed and managed in organisations. They will learn the value of innovation and its importance to supporting commercial growth. They will also acquire knowledge that will enable them to develop a creative and innovative approach that will benefit them throughout their career.
Learning Outcomes
LO1 : Investigate how innovation is sourced and supported within different types of organisations
LO2 : Explore the processing of different types of innovation within organisations
LO3 : Apply the process required to commercialise innovation within an organisation
LO4 : Evaluate the range of methods for protecting innovation within organisations.
Unit 9 : Entrepreneurial Ventures
(A/618/5047)
Entrepreneurship is about people who have dreams and take their career into their own hands, leading it in the direction of their choice. More recently it has also become about transforming the world by solving big problems, for example initiating social change, creating an innovative product, presenting a new life-changing solution.
This unit introduces the study of entrepreneurship and will benefit those thinking of starting up an entrepreneurial venture and those who are future leaders and managers. The unit aims to illustrate the concept of entrepreneurship and how having an entrepreneurial mindset can make a contribution to all businesses, be that a new business start-up or existing public and corporate organisations. Students will explore the skills, traits and characteristics of entrepreneurs and entrepreneurship. Students will understand the importance of difference size businesses on the economy and the contribution they can all make to society. Students will also learn about the need for intrapreneurs and the impact of disruptive entrepreneurship.
By the end of the unit, students will have gained research skills and the knowledge that they can develop an entrepreneurial mindset that will benefit them throughout their career. They will understand the contribution that businesses make to the economy and the importance of entrepreneurial activity for all businesses in all sectors.
Learning Outcomes
LO1 : Examine what it takes to be an entrepreneur and the scope of entrepreneurial ventures
LO2 : Explore the concept of the entrepreneurial mindset and its contribution to entrepreneurial ventures
LO3 : Assess the impact of SMEs (small medium enterprises) on the economy
LO4 : Explain the importance of intrapreneurship in both public and corporate organisations.
Unit 19 : Research Project
(H/618/5060)
Research skills are as vital for the workplace as they are for academic development. Research skills enable students to identify a problem, collect informational resources that can help address the problem, evaluate the resources for quality and relevance, and come up with an effective solution to the problem. These are seen as essential skills by employers for most positions in industry, to support a range of duties, for example report writing, building a business case, business planning, launching a new product or service.
This is a Pearson-set unit. Students will choose their own project based on a theme provided by Pearson (this will change annually). The project must be related to their specialist pathway of study (unless they are studying the general business pathway). This will enable students to explore and examine a relevant and current topical aspect of business in the context of the business environment and their chosen specialist pathway.
The aim of this unit is to offer students the opportunity to engage in sustained research in a specific field of study. The unit enables students to demonstrate the capacity and ability to identify a research theme, to develop a research aim and objectives and to present the outcomes of such research in both written and verbal formats. The unit also encourages students to reflect on their engagement in the research process, during which recommendations for future, personal development are key learning points.
Please refer to the accompanying Pearson-set Assignment Guide and Theme Release document for further support and guidance on the delivery of the Pearson-set unit.
Learning Outcomes
LO1 : Examine appropriate research methodologies and methods to identify those appropriate to the research process
LO2 : Develop a research proposal, including a supporting literature review
LO3 : Analyse data using appropriate techniques to communicate research findings
LO4 : Reflect on the application of research methodologies and process.
Unit 20 : Organisational Behaviour
(A/618/5064)
Organisational behaviour is concerned with understanding, explaining and predicting the behaviour of individuals in the workplace and can assist in the development of practical solutions to organisational and managerial problems. Individuals, whether acting in isolation or collectively as part of a group, engage in actions and behaviours that can have a positive or negative impact on company performance and the achievement of strategic goals. It is therefore essential that those who are involved in managing and leading people in organisations, acquire insight and expertise in organisational behaviour.
The aim of this unit is to develop knowledge and understanding of how organisational behaviour concepts, theories and techniques can be applied in work and management settings in order to enhance individual, team and organisational performance. Students will be able to apply this knowledge in a variety of business situations. They will appreciate how effective application of organisational behaviour principles can be used to explain why people behave and act in particular ways and to predict how employees will respond to certain demands. The unit also develops student understanding of the influence of culture, the operation of power and politics in organisations and how these variables influence the actions and behaviour of people in an organisational context.
On successful completion of this unit, students will have developed a range of transferable skills and knowledge. This includes core people management skills used to achieve positive organisational outcomes and to create value by recognising individual difference, team working and the creation of inclusive organisational cultures.
Learning Outcomes
LO1 : Reflect on own personality and perceptions to understand how individual difference informs and influences management approaches
LO2 : Apply content and process theories of motivation to create and maintain an effective workforce
LO3 : Participate in a group team activity for a given business situation to demonstrate effective team skills
LO4 : Examine how power, politics and culture can be used to influence employee behaviour and accomplish organisational goals.
Unit 27 : Identifying Entrepreneurial Opportunities
(A/618/5095)
The role of the entrepreneur is to weigh up opportunities, threats and personal skills, and abilities to translate an opportunity into a business idea. This unit gives students an understanding of where new entrepreneurial ideas come from and gives them the opportunity to investigate and evaluate a new entrepreneurial idea for a small- and medium sized enterprise (SME).
Students will explore concepts of innovation, entrepreneurship and developing creativity. They will learn about and use methods and frameworks to help develop and assess new venture ideas, including defining product or service benefits, identifying target customers and understanding the industry and competitors from the perspective of a new entrant. They will also learn about market research and apply primary and secondary research techniques to investigate an entrepreneurial idea. They will then assess whether it is likely to be a commercially viable business or a social enterprise proposition.
By the end of the unit, students will have acquired creative skills and thinking for innovation, preparing them for jobs and technologies that do not even exist yet in this rapidly changing landscape.
Learning Outcomes
LO1 : Explore the role of entrepreneurship and innovation for developing new entrepreneurial ideas
LO2 : Investigate a potential entrepreneurial idea from a gap in the market for a small to medium sized (SME) enterprise
LO3 : Analyse primary and secondary data to identify the market potential of an entrepreneurial idea
LO4 : Pitch the potential viability of an entrepreneurial idea in the context of the market and competitors
Unit 28: Launching a New Venture
(A/618/5114)
How do you get from idea to launching a new business venture? Many entrepreneurs take risks on the way, which can have expensive consequences if mistakes are made. This unit will prepare students to launch a business with less risk and pitfalls.
The unit gives students a practical understanding of what is required to successfully launch a new venture. It gives students an opportunity to plan the launch of a specific new venture idea. They will learn about and work through the stages of planning to launch the venture. This will include an explanation of the idea and how it will attract customers and have competitive advantage. Students will also learn about the need for resourcefulness when starting a new venture, and about identifying and using personal networks, which can offer a valuable source of knowledge, resources, advice and opportunities.
Students will develop a promotional plan to launch a new venture and prepare a budget and a cash flow forecast for the launch and the first 12–18 months of operation for the chosen venture.
Learning Outcomes
LO1 : Investigate the resources required to launch a new venture
LO2 : Explore the skills and capabilities required to support the launch of a new venture
LO3 : Develop promotional activities to support the launch of a new venture
LO4 : Produce a budget for launching a new venture for a small business or social enterprise.
Unit 29 : Managing and Running a Small Business
(F/618/5115)
Every year new start-up businesses begin trading, but only two-thirds will survive into their third year of trading and just half will remain after five years. For most businesses, it is not a lack of customers or poor-quality products or services that are responsible for their failure but simply a lack of cash and business acumen. It is important to have a basic knowledge of managing a business and an overall understanding of the services offered to customers in order to survive.
This unit will give students a practical understanding of the key aspects of running a small business or social enterprise. Students will learn about the activities involved in running a small business, including developing good relationships with customers, planning and allocating operational resources, forecasting and budgeting, interpreting financial statements, being an employer, dealing with legislation and regulation, and how to put a business plan together.
Students will develop an understanding of how all the different aspects of running a business interrelate so as to achieve success and develop an appreciation of the benefits and importance of organisation and planning.
Learning Outcomes
LO1 : Explore how a small business or social enterprise plans and allocates resources to achieve objectives
LO2 : Evaluate the customer relationship management process for a small business or social enterprise
LO3 : Develop a cash flow forecast and break-even analysis for a small business or social enterprise
LO4 : Discuss the financial statements, regulation and legislation that apply to a small business or social enterprise.
Unit 43 : Business Strategy
(H/618/5124)
This unit supports individuals who are working in or towards managerial roles in all market sectors to develop and enhance strategic thinking and planning that will improve organisational performances of businesses in their respective competitive markets. General manager skills and competences are focused on through a range of themes and topics that can be applied in most contexts.
The aim of this unit is to develop students’ awareness of the different types of strategic approaches that could be used in an operational, tactical or strategic role for an organisation. This will be underpinned by a thorough knowledge and understanding of the theories, models and concepts that could significantly support an organisation’s strategic choice and direction.
On successful completion of this unit, students will have developed sufficient knowledge and understanding of strategy to make a positive, efficient and effective contribution to the development of business plans and operational direction. They could do this in the role of a junior manager responsible for having a specific input into an organisation’s decision making and planning.
Learning Outcomes
LO1 : Analyse the impact and influence that the macro environment has on an organisation and its business strategies
LO2 : Assess an organisation’s internal environment and capabilities
LO3 : Apply the outcomes of an analysis, using an appropriate strategic management tool, in a given market sector]
LO4 : Develop a strategic management plan in an organisation, informed by models, theories and concepts, to achieve competitive advantage in a given market sector.
Unit 53: Planning for Growth
(D/618/5137)
This unit focuses on small and medium enterprises (SMEs) and how they can broaden their knowledge of business growth. SMEs need to know where they sit in the marketplace and which approaches to take in order to grow business and develop relevant industries and sectors accordingly.
This aim of the unit is to give students an awareness of how SMEs develop and grow. They will understand the options for SMEs in terms of exiting successful or unsuccessful businesses and will be able to appreciate the importance of making informed choices when choosing routes to growth. They will also understand the potential risks vs rewards involved with growth.
Students will learn about and apply techniques for identifying opportunities for growth and appraise options for achieving growth. Students will also learn about the sources of investment finance and consider how an SME attracts investors and the appropriate approaches to gain stakeholder interest.
Learning Outcomes
LO1 : Analyse the key factors that SMEs should consider when evaluating growth opportunities
LO2 : Assess the various methods through which organisations access funding and when to use different types of funding
LO3 : Develop a business plan to communicate a growth strategy in a business to the relevant stakeholders
LO4 : Assess the various ways that a small business owner can exit the business and the implications of each option.