BM302: Business Resources

This document provides study material and solved assignments for BM302: Business Resources. It covers topics such as how organizations select employees, the importance of employability and communication skills, managing physical and technological resources, accessing different sources of finance, and understanding financial statements.

BM302: Business Resources
BM302:

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BM302: Business Resources
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BM302: Business Resources
Assignment Title Business Resources
Task 1: Know how human resources are managed
You could use a job advertisement for an organisation with which you are already familiar,
such as through part-time employment, work experience or as a customer. You could then use
these to create a set of documents that could be used by the organisation advertising the job.
A great deal of information is likely to be available on the organisation’s website, but it would
be helpful if a visit from someone who works in a Human Resources department could be
arranged.
You could select a job advertisement that interests you, and undertake research into the skills
that are required for the chosen role. This would provide an opportunity for you to find out
more about a role that you have an interest in, and allow you to compare your skills with those
required by the job role you have chosen. It would be useful for you to visit careers advice
organisations and careers websites in order to find out the particular skills that are required
for certain jobs.
1.1: Describe how organisations select their employees and what document
are required
(Youcould produce a guide for applicants on the recruitment documentation used within a
selected organisation. The guide should use a specified job role as an example and describe
the recruitment documentation and the main employability, personal and communication skills
required when applying for the specified job role.)
On the basis of job advertisement used by Tesco for employing a marketing manager the process of
selecting the employee is discussed below:
The organisation take application from the candidates in which they ask qualifying questions.
 On the basis of the application resume screening is done by them in context of background of the
candidate, professional expertise and knowledge etc.
 The candidates are then called out for screening and for assessment test. In this aptitude,
personality and intelligence of the candidates are analysed.
 On the basis of such test personal interview is organised in which their capabilities and competence
for the particular role are evaluated.
 After evaluating their capabilities and competence job offer is provided to the candidate specifying
various benefits to them along with roles and responsibilities they have to perform.
The candidates are attracted for the vacancy through job advertisement which includes the roles and
responsibilities that they have to perform along with other information and guidance required by a
candidate such as pay and perks, main employability the organisation is focusing upon etc.
1.2 Describe the importance of employability and personal and
communication skills when choosing employees in an organisation
(You could see the job advertisement for specific skills associated with communication)
An employer analyses the employability, personal and communication skills of the candidate as with the
help of this they can analyse their capability of managing various situation. The employability of a person
can be improved by their strong personal and communication skills and this can easily impress the
potential employer. With better communication skills can efficiently present themselves before the
employer and on the basis of this they can analyse their skills and qualification for performing roles and
responsibilities related to the particular role. In addition to this by analysing these skills the employee can
compare the ability of candidates who have applied for the job.

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BM302: Business Resources
Task 2: Understand the purpose of managing physical and technological resources
You could carry out an audit of your learning environment in order to identify the range of
resources that are required for the organisation to operate. You could outline the availability of
various sources of finance, as well as their respective advantages and disadvantages. You
could use various sources to assist them, including leaflets and booklets from banks.
2.1: Describe importance of physical and technological resources required in
selecting employees into an organisation
(Youcould produce a leaflet that describes the main physical and technological resources
required in the operation of a selected organisation.)
The human Resource Department of Tesco has been using various physical and technological resources
with the help of which they can easily manage the selection of employees for different post. They have
been using human resource information system in which all the details of the candidates which facilitate
them to compare the abilities, skills and competence. The recruitment software used by them enables
them to post ad, sort and accept applications, managing of the candidates and many more. This enables
them to simplify the process and make it hassle free. Apart from this for making selection process easier
the company with the help of Google forms and other online assessment test analyses the capabilities of
the candidate. On the basis of which they identify the suitable candidate among the one who has applied.
Other than this, physical resources such as conference halls are used by the organisation with the help of
which the candidate can analyse infrastructure and environment within the organisation.
Task 3: Identify ways to access different sources of finance
You could identify family and friends, shareholders, banking industry and other financial
sources as part of internal and external sources of fund and their advantages and
disadvantages for any business.
3.1: Describe importance of internal and external finances available for a
selected company
(You could create a wall chart to describe the sources of internal and external finance for a
selected business.)
The business organisation needs funds for their operations which they procure from both internal and
external sources. The internal sources of finance sources of the business finance in which points are
arranged within the business either from their assets or from the business activities of Tesco. While the
external sources of finance related with arrangement of funds from various sources outside the
organisation. Both the type of funding are important for the organisation and their importance are
discussed below:
Internal finances: Advantage with this source of funding is that the decision can be taken easily and
quickly by the Tesco according to the opportunities. It does not bring pressure on the company in terms of
increased cost for interest or collateral security. In addition to this it brings flexibility within the
organisation for future decisions without interference of lenders for investors. Further it reduces the risk
of depreciation on losing fair market value of collateral assets.
External finances: With the help of this sourcing of finance the organisation such as Tesco can procure
funds in large quantity with which they can easily speed up their growth, can acquire new assets and
equipments, fund various activities such as marketing campaign, can manage uneven cash flows etc. This
source metre per requirement of large expenses so that promotion of the business can be ensured.
Task 4: Understand financial statements
You could use the trading and profit and loss account and balance sheet for two companies
and undertake a comparison of the documents for both companies. Whilst you are only
required to use one company to meet the assessment criteria, comparing two sets of

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BM302: Business Resources
documents may help to develop understanding. You should be looking for both similarities and
differences in the values within the documents. You could decide which of the two companies
is in a better financial position, explaining their reasons.
4.1 Describe importance of content of financial statements in a selected
organisation
(You could create a report for the financial director of a selected company that interprets the
contents of a trading and profit and loss account and balance sheet for the company. You
should use a larger company, not a sole trader or a partnership.)
Financial statement for the organisation is crucial as with the help of this significant information about the
financial health of the company are reflected to the general public and the investors. This enables the
company to procure funds from the market and provide all the information to their shareholders as well as
other investors in context of their assets and liabilities along with various activities undertaken by the
company. The financial statement contain the following item whose is importance are discussed below:
 Assets and liabilities: The assets and liabilities of Tesco in financial statement reflect their ability to
repay the funds that they have procured from the investors. On the basis of these Tesco can
gather funds from them for their future projects.
 Revenue from operations: This component of financial statement reflects the income of the
company within the financial year from their activities. On the basis of this it is analysed that
weather a company is profitable in their operations or not.
 Operating, financing and investing activity: These components of cash flow statements reflect the
flow of cash in context of operating financing and investing activities. With the help of this the
Tesco can analyse the sources of cash throughout the year and the payments they made in the
same financial years. With the help of this cash management is supported which make the
company capable of making payments easily and efficiently.