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Importance of Financial Resources for Businesses

   

Added on  2020-01-28

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BUSINESSRESOURCES
Importance of Financial Resources for Businesses_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................4ASSESSMENT 1.............................................................................................................................4P1 describe the recruitment documentation used in a selected organisation...............................4P2. describe the main employability, personal and communication skills required whenapplying for a specific job role....................................................................................................4TASK 2............................................................................................................................................5P3. describe the main physical and technological resources required in the operation of aselected organisation....................................................................................................................5P4. describe sources of internal and external finance for a selected business.............................6TASK 3............................................................................................................................................7P5. interpret the contents of a trading and profit and loss account and balance sheet for aselected company.........................................................................................................................7P6. illustrate the use of budgets as a means of exercising financial control of a selectedcompany.......................................................................................................................................8TASK 4..........................................................................................................................................11P7. illustrate the financial state of a given business...................................................................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13
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INTRODUCTIONFor a business to run successfully on a daily basis it needs finances. Success comes whena business expands, reinvests and uses human recourses to run. Bentalls need money to run theirbusiness effectively and successfully. It needs finance for its daily running of the business forexample, paying staff wages, paying bills for electricity and rent, paying taxes on time andordering stock regularly. Present report is based on Tesco which adopts several kind ofrecruitment procedure for the purpose of meeting organization objectives.ASSESSMENT 1P1 describe the recruitment documentation used in a selected organisationIf Tesco are looking to recruit workers to be behind the till and on the shop floor, first ofall they will advertise the job role, they can do this in many ways today. They can advertise thevacancy in a newspaper, posters, website, web adverts. As the job role does not require veryskilled and qualified people, the recruitment process will be a lot faster. When Tesco advertisethe vacancy they will need to include the job description and all duties that will be expected,qualifications and skills required by potential applicants and location of where the work will bedone so the applicants know if they will be able to commute.P2. describe the main employability, personal and communication skills required when applying for a specific job roleEmployability skills can include having suitable qualifications, most jobs will requiresome formal qualification and an applicant will be required to have those formal qualifications orthey will not meet the job description. If there is a vacancy and one of the applicants has hadexperience in a similar job then that is something that makes them look better to the employerthan if they just have the qualifications needed, as the employer would think if they worked inthat role before than it would be easier for them to do the same work again (Aladwan, 2014).Having knowledge of products and services that are being used or sold by the organisation is abenefit to applicants especially if they intend to work in customer service. If they candemonstrate knowledge of products and services relevant to the organisation then this canimprove chances of obtaining the job. If an applicant has experience in a specific industrialsector, this can be highly valued by employers. Meeting targets is vital for a business’s success,
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