In the second year the knowledge, skills and understanding being assessed in this qualification are:
• Exploring the traditional nature and form of organisations and how the external environment has led to the emergence of new organisational forms and ways of working.
• Appraising the issue of innovation as it falls within, and relates to, a range of key business functions and disciplines. Being able to form a holistic view of the drivers and effects of innovation on the business enterprise, and to develop an awareness of the need to innovate.
• Exploring effective financial management of financial resources in a business, including the applied techniques that managers need in order to take financial decisions in a business.
• Developing a strong working understanding of economic theory and principles in the ever-changing and dynamic international economic marketplace.
• Understanding the different operations and supply chain methods adopted by companies.
• Theoretical, practical, and technical knowledge and understanding to build a capability to identify, define, analyse, and interpret data from a broad range of sources to support critical business decisions in a variety of contexts and using a range of methodologies. • Exploring different stakeholders in depth, analysing their potential impact and influence, in order to develop relevant relationship management strategies that will enable organisations to overcome threats, take advantage of opportunities, achieve their objectives and protect their brand.