Business and Human Resource Management

This assignment involves analyzing various factors and environmental influences that affect businesses. It requires understanding people's demands and practices in Human Resource Management (HRM) to manage business objectives effectively. The assignment also covers strategies for delivering effective consumer services as it benefits businesses in the long run.

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 Functions of HR department in business..........................................................................1
5.3 Key features of employment legislation...........................................................................2
TASK 3............................................................................................................................................2
3.1 Financial statement...........................................................................................................2
TASK 4............................................................................................................................................3
4.1 Role of team-members and own.......................................................................................3
4.2 Team Development.........................................................................................................3
4.3 Role of leadership and motivational style in context with different situations................4
4.4 The way leadership style used to influence workers........................................................5
TASK 5............................................................................................................................................5
Covered in PPT.......................................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Business activity consist of the practices engaged with the initial purpose of creating
benefits. It is an often term which encompasses entire practices of economic carried out through
an organisation while executing course of business (Adjei and et. al., 2014). One organisation
has to incorporate with entire business entity, document a proper business plan and laid whole
groundwork for creating more sales and gain consumer. For building an in-depth evaluation
report of Hilton Hotel i.e. global hotels and resort chain considered as a flagship brand. This
report will analyse various types of business segments and organisation including and impact of
consumer for success of business. It will also evaluate various HRM functions and main features
of employment legislation within the company's operations.
TASK 1
Covered in PPT
TASK 2
2.1 Importance of accounting for business success
In regard of operating business in adequate manner, an organisation require to prepare
information for transactions reports, liabilities, debts, and more. It would assist in evaluating
whether companies have gained more loss and profits at the end of duration, entire procedure are
done through organisation's decision account (Palattella and et. al., 2016). Individual linked in
this segment carry out those practices that are assisting for administration in decision-making
procedure. The major aim of accountants in organisation to prepare financial transactions record
in adequate manner. This can help business in managing position. This will also aid company in
analysing business performance, creating proper budget along with monitoring the cash flow and
management.
5.1 Functions of HR department in business
The main function of human resource department in every enterprises is to manage
workplace and employees in a systematic manner. HR managers performs various activities for
this process like recruitment and selection, training and development, reward and appraisals etc.
These processes help in designing effective workforce and organisational culture as per
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requirement of business. The main purpose behind several functions is to gain high retention of
workers.
5.3 Key features of employment legislation
In order to eliminate discrimination from workplace, Government of UK has made
various laws which is compulsory for all organisations to be followed (Doppelt, 2017). These
regulations are used to prohibited exploited activities from workplaces which makes employees
unsecure and unsafe. Therefore, it is necessary for companies to provide healthy and safe
working environment to all people who are associated with their business. It includes various
laws such as
 Health and safety Act
 Sex Discrimination Act
 Equal Employment Act
 Equality Act.
TASK 3
3.1 Financial statement
Profit & Loss Statement of Hilton Hotel
Income Statement of Hilton Hotel, 2017
All numbers in thousands
Revenue 12/31/2017
Total Revenue 1457000
Cost of Revenue 413000
Gross Profit 1044000
Operating Expenses
Selling General and Administrative 667000
Operating Income or Loss 353000
Total Operating Expenses 1104000
Income from Continuing Operations
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Total Other Income/Expenses Net -60000
Earnings Before Interest and Taxes 353000
Interest Expense -29000
Income Tax Expense 125000
Income Before Tax 293000
Net Income From Continuing Ops 168000
Non-recurring Events
Net Income 168000
Net Income Applicable To Common
Shares 168000
Interpretation: As per this statement of Hilton Hotel in the year 2017, it has interpreted
that has spent much on operational activities that is near about 1104000. While on income tax it
has paid 125000. Therefore, after all expenses it has incurred 168000 as net come by the end of
financial period.
TASK 4
4.1 Role of team-members and own
Working in team is an essential factor of business environment. It helps every member of
group to evaluate their personal skills, abilities and patience level (Warner, 2018). Being a leader
of team, I have analysed that if a person is working in group then on many factors he has to think
like how to behave with others, share a strong relationship and more. Along with this, every
member has own abilities therefore, before to allot responsibilities to them I have observed
performance level of each. Among with this, through leadership qualities I have identified needs
of every individual and provide training to them. This would help me as well to get their right
work as well as complete a project on time.
4.2 Team Development
In order to gain sustainability and competition advantages, a company requires a proper
staff who work in systematic manner. In big organisation like Hilton hotel, its management has
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made various projects to gain attraction of tourists towards services. Therefore, to execute such
projects properly they need to engage employees in group task (Mackey and Sisodia, 2014). It
will help in completing the projects on time. In order to develop a team, managers are needed to
follow some steps as given below:-
Stages of team development – This process has consisted five stages of team
development that are- Forming: In this stage, managers are required to give names of each person who will
take part in completion of a project. Along with this, make an activity through which they
can introduce themselves in a perfect manner (Reim, Parida and Örtqvist, D., 2015). Storming: After formation of members in team, now its time for all persons to perform in
best manner in order to show their skills are effective or not. Therefore, feeling of
competition will arise in this phase naturally. Norming: In this phase, now people are used to cooperate with each other and share a
relationship which helps in completing the task in a proper manner. Performing: Through developing relationship, members will collaborate each other and
contribute best efforts in accomplishment of project on time.
 Adjourning: It is the last stage in which all persons enjoy the success of project
execution.
Motivational theories – In developing an effective team, managers have to motivate
people to work with each other in a healthy manner. Along with this, to get their right work in
completion of a project, they should evaluate needs of every individual (Bernstein, 2015).
Therefore, for analysing requirements of team-members and motivates them to cooperate each
other, managers can use Herzberg's Motivation Hygiene, Maslow's need hierarchy and
McClelland theory of motivation.
Leadership styles- In team development process, managers and leaders are needed to
adopt some effective leadership style also (Petro and Gardiner, 2015). As many issues will create
when members of different background come with each other to work in team. They can use
Laissez Faire, Democratic and Situational styles of leadership as per requirement.
4.3 Role of leadership and motivational style in context with different situations
Using motivational theories like Herzberg's Motivation Hygiene, McClelland Need and
Maslow help management of Hilton Hotel to encourage staff members for accomplishment of a
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project on time. These theories help managers to observe and analyse strengths and weakness of
each member who are involved in group task (Omar, Leach and March, 2014). After
identification, they used various methods like training and development to them in order to
remove their weaknesses. In addition to this, they provide reward to workers in order to boost up
morale of team-members.
4.4 The way leadership style used to influence workers
When members are working in team then problems can be arise on many phases.
Therefore, in order to resolve them it is necessary for managers to adopt some leadership and
motivational skills (Weiss, 2014). These situations are occurred specially where members have
different backgrounds and opinions. For instance- In case of reducing discrimination on the basis
of skills, group leaders of Hilton Hotel used democratic style in order to identify needs of each
member. Along with this, provide training to them so that members will get equal opportunity to
participate. While in case of reducing chance of conflicts, manager use laissez faire style of
leadership.
TASK 5
Covered in PPT
CONCLUSION
Summarised report affirm that for operating a proper business or company, whether
private and public organisation, it is fundamental to investigate various factors and
environmental influence. This can assist in functioning the successful business in adequate
manner. Association employer need to understand people's demand and practices of HRM for
managing their business objectives. The company need to deliver effective consumer services as
it benefits them for longer period.
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REFERENCES
Books and Journals
Weiss, J. W., 2014. Business ethics: A stakeholder and issues management approach. Berrett-
Koehler Publishers.
Bernstein, M. H., 2015. Regulating business by independent commission. Princeton University
Press.
Mackey, J. and Sisodia, R., 2014. Conscious capitalism, with a new preface by the authors:
Liberating the heroic spirit of business. Harvard Business Review Press.
Warner, K., 2018. Building rules: How local controls shape community environments and
economies. Routledge.
Doppelt, B., 2017. Leading change toward sustainability: A change-management guide for
business, government and civil society. Routledge.
Palattella, M. R., and et. al., 2016. Internet of things in the 5G era: Enablers, architecture, and
business models. IEEE Journal on Selected Areas in Communications. 34(3). pp.510-
527.
Adjei, H., and et. al., 2014. Assessing the Corporate Social Responsibility Activities of Atwima
Kwawoman Rural Bank Limited and its Impact on the Communities it Operates.
European Journal of Business and Innovation Research. 2(4). pp.36-47.
Omar, A.T., Leach, D. and March, J., 2014. Collaboration between nonprofit and business
sectors: A framework to guide strategy development for nonprofit organizations.
VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations. 25(3).
pp.657-678.
Petro, Y. and Gardiner, P., 2015. An investigation of the influence of organizational design on
project portfolio success, effectiveness and business efficiency for project-based
organizations. International Journal of Project Management. 33(8). pp.1717-1729.
Reim, W., Parida, V. and Örtqvist, D., 2015. Product–Service Systems (PSS) business models
and tactics–a systematic literature review. Journal of Cleaner Production. 97. pp.61-75.
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