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Understanding your sector
Understanding your sector

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7 Summary

This week you have looked at the immediate business context of an organisation and the ways in which that will affect its operations. You have considered how these factors – customers, competitors and suppliers – set the context within which an organisation functions. You have examined important concepts such as customer satisfaction, and how this might be measured, the unique selling point (USP) and the supply chain. You have learned how businesses ignore these areas at their peril and have also been able to apply these concepts to your own organisation, with benefits for both the organisation and yourself.

You should now feel that you can:

  • identify how the immediate business context – consisting of customers, competitors and suppliers – affects how organisations operate
  • outline what is meant by ‘customer satisfaction’ and how this might be assessed
  • outline the strategic importance to an organisation of understanding its competitors
  • describe what is meant by a USP (unique selling point) and apply this concept to your own organisation
  • identify why organisations need to engage with their supply chain and whom this might involve.

Next week you will look at the background to your organisation and job, including the other structures and bodies that help to underpin and reinforce people’s employment. This will include professional and sector organisations, central and local government, and trade associations and trade unions.

You can now go to Week 4. [Tip: hold Ctrl and click a link to open it in a new tab. (Hide tip)]