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Principles of Business - Level 3


Price is per online user of this course. Applicable EU VAT is added.

This unit enables you to gain an understanding of how business markets operate, how they shape the behaviour of business activity, the use of budgets in helping to avoid poor financial management and the relationship between sales and marketing.

This Principles of Business course, from the Customer Service Level 3 suite of online courses, is mapped to UK National Occupational Standards D/506/1942

See below for further information.

Sold By: Global Vocational Skills


The course is completed via a five-stage learning process:


i-Practice is a unique tool that simulates real world vocational activities in a virtual environment, bridging the gap between traditional textbook and workshop learning, enabling the development of practical skills.  It consists of two elements:

i-Practice (Training):  This guides you through a virtual activity with full instruction allowing you to acquire the necessary skills though the repetition of tasks.

i-Practice (Assessment):  This allows you to test your comprehension of the content.  You undertake the same activity as before but without instruction.  This enables you to apply what you have learnt, test your ability and set a benchmark to improve upon – ultimately working towards being job ready.


i-Ask provides core knowledge delivered through visuals, text and audio


iCheck reinforces your comprehension with informal testing and clear results – helping you identify strong and weak areas of understanding

i-Test This is formal testing which summarises your results

Course Objectives

On completion of this topic you will be able to:

  • Understand business markets and explain the characteristics of different business markets, the nature of interactions between businesses within a market, and how an organisation’s goals may be shaped by the market in which it operates.
  • Understand business innovation and growth and define business innovation.  Explain the uses of models of business innovation, identify sources of support and guidance for business innovation and explain the process of product or service development, the benefits, risks and implications associated with innovation.
  • Understand financial management, including the importance of financial viability for an organisation, the consequences of poor financial management and different financial terminology.
  • Understand business budgeting including the sues of a budget, how to manage a budget, and describe the legal obligations of a business.
  • Understand the principles of marketing and explain a sales process, and the relationship between sales and marketing
  • Explain the features and uses of market research and the value of a brand to an organisation

Course Content

i-Act: Understand Business Markets

i-Ask: Business Market Overview
i-Ask: Interactions Between Businesses Within a Market
i-Check: Different Types of Business Market
i-Check: Understanding the Features of a Business Market
i-Test: Understanding Different Business Market Types and their Characteristics

i-Act: Understand Organisational Goals within Business Markets

i-Ask: Overview of Organisational Goals for Businesses
i-Ask: Market Forces and Organisational Goals
i-Check: Understand Different Goals in Business Markets
i-Check: How Market Forces Affect Organisational Goals
i-Test: Organisational Goals Within Business Markets

i-Act: Understand Legal Obligations within Business Markets

i-Ask: Overview of Legal Obligations
i-Ask: Business Legislation
i-Check: Different Business Types and Their Requirements
i-Check: Understanding Business Legislation
i-Test: Knowledge of Legal Obligations for Business

i-Act: Understand Business Innovation and Growth

i-Ask: Defining Business Innovation
i-Ask: Identify Sources of Support and Guidance for Innovation
i-Check: Understanding Business Innovation
i-Check: Identifying Sources for Business Innovation
i-Test: Understanding Business Innovation Growth and Sources

i-Act: Understand Business Processes for Innovation and Growth

i-Ask: Eight Stages of Product or Service Development
i-Check: Eight Stages of Product or Service Development
i-Check: Understanding the Eight Stages of Product or Service Development
i-Test: Eight Stages of Product or Service Development

i-Act: Understand Financial Management

i-Ask: The Full Scope of Financial Management
i-Check: The Full Scope of Financial Management
i-Check: Understanding Financial Management
i-Test: The Full Scope of Financial Management

i-Act: Understand Financial Viability

i-ACT: Understand Business Processes for Innovation and Growth
i-Ask: Understanding Financial Viability
i-Check: Understanding Financial Viability
i-Test: Understanding Financial Viability

i-Act: Understand the Impact of Poor Financial Management

i-Ask: Poor Financial Management Overview
i-Check: Mismanagement Review
i-Test: Definitions of Mismanagement

i-Act: Understand Business Budgeting

i-Ask: Business Budgeting Overview
i-Check: Understanding Types of Business Budgeting
i-Check: Understanding Business Budgeting
i-Test: Understanding Business Budgeting and Types

i-Act: Understand Sales and Marketing

i-Ask: Marketing Principles Overview
i-Ask: Sales and Marketing Overview
i-Check: Marketing Definitions
i-Test: Sales and Marketing

i-Act: Understand Sales and Marketing Research

i-Ask: Overview of Sales and Marketing Research
i-Check: Features of Market Research
i-Test: Sales and Marketing Input

i-Act: Understand the Value of Branding in Sales and Marketing

i-Ask: Branding in Sales and Marketing
i-Check: The Value of Branding in Sales and Marketing
i-Test: Features of Brands

i-act: Understanding the Relationship Between Sales and Marketing

i-Ask: Overview of the Relationship Between Sales and Marketing
i-Check: Differences Between Sales and Marketing
i-Test: The Relationship Between Sales and Marketing

Organisational Licensing

The suite of Health and Social Care courses is available as an organisational licence – please enquire for details by emailing [email protected] or phoning 0844 854 9218.


For multiple purchase discounts or to find out if discounts are available on mixed course purchases please phone a customer advisor on 0844 854 9218.

Discounts are calculated during the checkout process.

Payment Options

The most straight forward method of payment is to select the number of users you require and add the product to your shopping cart by selecting Add to Cart. You will then be able to make payment using most credit and debit cards or a Paypal account. If you would like to pay by BACs transfer or by invoice please contact a customer advisor on 0844 854 9218 or email [email protected]

Additional information







Available for immediate enrolment



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