Business Environment & Management Strategies

This assignment delves into the dynamic nature of the business environment and its influence on various aspects of an organization. It examines internal factors like human resources, production, finance, marketing, sales, and R&D, emphasizing their coordinated efforts for efficient operations. The assignment further explores motivational theories and leadership styles used to manage a skilled workforce, ultimately aiming to deliver high-quality services to customers.

How Business Operate

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
COVERED IN PPT ....................................................................................................................1
TASK 2............................................................................................................................................1
2.1 Importance of accounting for business success....................................................................1
5.1 Different functions of HR department in business................................................................2
5.2 Key features of employment legislation...............................................................................2
TASK 3............................................................................................................................................3
3.1 Accounting workshop...........................................................................................................3
TASK 4............................................................................................................................................4
4.1 An analysis to determine own and other's roles of team members.......................................4
4.2 Team Development...............................................................................................................4
4.3 Motivational theories used by management of Sainsbury....................................................5
4.4 Different leadership style that are used by superiors of Sainsbury.......................................5
TASK 5............................................................................................................................................6
COVERED IN PPT.....................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Business consists environment which incudes various internal and external factors that
directly or indirectly impact on operations. Government, suppliers, customers, technology,
economic conditions and competitors are various components that management require to
consider while designing system (Sekaran and Bougie, 2016). Present report is based on
Sainsbury which is famous retail store established in UK and various nations. This assignment
defines information about different kinds of organisation such as private and public which vary
with each other on basis of size, structure and objectives. Management duty is to utilise funds,
material and manpower efficiently; thereby deliver appropriate items and services in
marketplace. This helps them to generate adequate profit and timely accomplish goals and
objectives.
TASK 1
COVERED IN PPT
TASK 2
2.1 Importance of accounting for business success
Finance department is constituted by administration whose duties include conducting
auditing and formulate budget which specifies information about execution of funds in various
activities. Accounting process is executed by members which includes activities such as
recording, measuring, classifying and interpreting information about expenses and incomes
(Zander, McDougall-Covin and Rose, 2015). This help executives to communicate information
about financial data to shareholders, creditors, government and other users; thereby enhance
market goodwill and image of Sainsbury. These are various advantage that accounting concept
have on prosperity of business are defined below:
 Systematic record: Management conducts accounting process which helps them to
maintain organised report about all spendings, investment and gains made by firm.
 Assess business performance: Accounting process helps administration to get accurate
information about profit or loss generated by Sainsbury. This help them to anticipate
market share and position; thereby acknowledge enterprise's image have in mind of
public.
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 Protect investors and promote transparency: Financial statement is formulated by
financial unit which help seniors to communicate information to shareholders about
revenue generated by Sainsbury. This helps executive to construct interest and provide
them security that adequate profit share will be given to them by firm.
5.1 Different functions of HR department in business
Human resource responsibility is to have skilled and competent workforce so that
business operations are executed in proficient manner. Sainsbury which is retail store have
adequate manpower, so quality products and services are given by firm. These are various
activities that are performed by employer are described beneath:
Recruitment: This process defines that HR manager uses internal approach such as
promotion, transfer and former employees are used to motivate workforce and dedicated towards
job. Besides this, external methods such as campus placement, management consultants, media
advertisement and agencies are used to attract individuals from outside (Wajdi, Ummah and Sari,
2017) . In Sainsbury, administration uses intrinsic tactic which help them to recognise
capabilities of workers; thereby promote them to higher position. Along this, extrinsic elements
are used by employer to increase manpower and include new joiners which have creative and
innovative ideas.
Staffing: Group discussion, test interview are conducted by management to acknowledge
skills and knowledge of individuals; thereby select best applicant. In Sainsbury, members are
given duties on basis of their skills and abilities. This helps employer to have sufficient staff
available, so that appropriate activities are executed (Prajogo, 2016).
Training and development: Sessions, seminars and conferences are conducted by
superiors to enhance capabilities of employees; thereby make them competent in according to
duties assigned to them (Buhmann, 2015).
Employee relations: HR manager establishes friendly and healthy relationship with
members to keep them dedicated and motivated towards job. This help management to provide
appropriate instruction and guidance to staff; thereby deliver items and services in respect to
needs and wants of people.
5.2 Key features of employment legislation
Regulatory bodies formulate policies and laws to manage and regulate rights of
individuals; thereby take care that employees get positive and secure working environment and
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conditions. Thus, these are attributes that employment legislations have on organisation
performance are defined beneath:
 Staff members get positive and secure environment as management knows that they
require to follow health and safety act constituted by government to enhance market
position and image.
 Employer provide duties to individuals in according to their skills and abilities so that
they will perform tasks effectively. Along this, management of Sainsbury examine
performance of members and give them opportunities on basis of outcomes generated by
them (Allen, 2017) .
 Human resource responsibility is to take care that all staff get fair treatment and are not
discriminated on grounds of age, gender, religion, caste and background.
TASK 3
3.1 Accounting workshop
Profit and loss statement of Sainsbury for the year 2017
Revenue 2017
Total Revenue 31907000
Cost of Revenue 29919000
Gross Profit 1988000
Operating Expenses
Selling General and Administrative 1207000
Operating Income or Loss 781000
Income from Continuing Operations
Total Other Income/Expenses Net 41000
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Earnings Before Interest and Taxes 777000
Interest Expense 165000
Income Before Tax 612000
Income Tax Expense 153000
Net Income From Continuing Ops 414000
Net Income
Net Income 459000
Net Income Applicable To Common Shares 459000
Interpretation: As per above report, Sailsbury have total revenue about 31907000 and its net
income is 459000. Income before tax is 612000 as Operating Expenses of firm are 1207000.
TASK 4
4.1 An analysis to determine own and other's roles of team members
Team building is appropriate activity which help me to enhance capabilities as I require
to coordinate employees and make them work with each other. It is essential that workers get
adequate instruction and guidance in respect to duties and tasks. My communication skills and
interpersonal skills improves, as I require to construct bond with members and provide them
adequate instructions. Along this, my leadership abilities also improves as various motivational
and democratic leadership styles were used to keep workforce dedicated and inspired towards
job.
4.2 Team Development
These are various steps that are executed by superiors of Sainsbury, to construct unit and
coordinate workers efforts are stated below:
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Forming: Management group people in respect to their skills and abilities; thereby provide them
duties which members will perform to accomplish objectives (Morecroft, 2015) .
Storming: This include activity conducted by HR manager to acknowledge staff members ideas
and thoughts, thereby execute brainstorming tasks to build employees mind and encourage them
to work accordingly.
It is necessary that human resource conducts brainstorming activity to acknowledge their ideas
and make them competent towards duties.
Norming: This step defines that administration frame strategies and policies to direct employees
and provide them adequate instruction. Benchmarks and standards are communicated to
members to guide them and perform tasks appropriately (Bryman and Bell, 2015) .
Performing: It is last stage which specifies that staff members conduct activities in respect to
duties and accomplish targets within specified time.
4.3 Motivational theories used by management of Sainsbury
These are various models that are used by superiors to increase morale of employees and
make them dedicated towards job are described below:
Alderfer's ERG theory: This concept consists three forms of needs, that is existence,
relatedness and growth that members desire to accomplish. These are tactics which manager
considers while providing tasks to employees in according to their skills and knowledge. This
model is used by administration of Sainsbury, so they are able to make workforce motivated as
they get work in respect to their abilities. Along this, promotion and transfer are tools used by
human resource to provide them opportunities to grow in their career (Goffee and Scase, 2015).
McClellands need for achievement, affiliation and power: This theory defines that
individuals work effectively and complete activities timely as they want to get appraisal and
recognition. Along this, employees want friendly relations with superiors and co-workers which
make them feel connected and motivated. At last, members want to get promoted to higher
authority to grow in career.
Theory X and Theory Y: This model specifies that organisation consists different kinds
of members. It is necessary that management have complete and accurate information about
employees thought process, ideas and abilities. Theory X defines people which consists dislike
towards work and don't want to get authority and duties. Besides this, theory Y includes
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individuals which are self- motivated and perform tasks to get rewards and achievement
(Cohen, 2017).
4.4 Different leadership style that are used by superiors of Sainsbury
These are various leadership styles which are defined below:
Autocratic style: This defines that management keep authority and decision-making
power with themselves. Staff members are given duties and tasks to be performed as
organisation want to deliver appropriate items in market to enhance sales and generate adequate
profit (Murillo and Vallentin, 2016).
Democratic style: This tactic specifies that administration involve subordinates in
meetings so that appropriate decisions and alternatives are chosen. Along this, seniors are able to
keep employees connected and dedicated towards job.
Laissez- faire style: This leadership form determine that executive distribute powers to
members so that decisions and judgements are made timely (Santos, Pache and Birkholz, 2015).
TASK 5
COVERED IN PPT
CONCLUSION
As per above report, it can be comprehended that business environment helps
administration to acknowledge information about internal and external factors, and their impact
on business operations. Human resource, production, finance, marketing, sales and R&D units
require to conduct activities effectively so that appropriate items and services are delivered in
market. Management responsibility is to coordinate team members and make them work
effectively. Motivational theories and leadership style are used by superior to keep skilled and
competent workers for longer period; thereby provide quality services to customers.
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REFERENCES
Books and Journals
Allen, W. T., 2017. Our schizophrenic conception of the business corporation. In Corporate
Governance. pp. 79-99. Gower.
Bryman, A. and Bell, E., 2015. Business research methods. Oxford University Press, USA.
Buhmann, K., 2015. Public Regulators and CSR: The ‘Social Licence to Operate’in Recent
United Nations Instruments on Business and Human Rights and the Juridification of
CSR.
Cohen, T., 2017. HTM Departments Should Operate like a Business. Biomedical instrumentation
& technology. 51(4). pp.301-305.
Goffee, R. and Scase, R., 2015. The Real World of the Small Business Owner (Routledge
Revivals). Routledge.
Morecroft, J. D., 2015. Strategic modelling and business dynamics: a feedback systems
approach. John Wiley & Sons.
Murillo, D. and Vallentin, S., 2016. The business school’s right to operate: Responsibilization
and resistance. Journal of business ethics. 136(4). pp.743-757.
Prajogo, D. I., 2016. The strategic fit between innovation strategies and business environment in
delivering business performance. International Journal of Production Economics. 171.
pp.241-249.
Santos, F., Pache, A. C. and Birkholz, C., 2015. Making hybrids work: Aligning business models
and organizational design for social enterprises. California Management Review. 57(3).
pp.36-58.
Sekaran, U. and Bougie, R., 2016. Research methods for business: A skill building approach.
John Wiley & Sons.
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