Environments of Businesses - Doc
Added on 2020-11-12
8 Pages1910 Words411 Views
How Businesses Operate
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Covered in PPT.......................................................................................................................1TASK 2............................................................................................................................................1Importance of accounting for business success......................................................................1Different functions carried by HR department.......................................................................1Key features of employee legislation.....................................................................................2TASK 3............................................................................................................................................2Interpreting profit and loss account of Sainsbury...................................................................2TASK 4............................................................................................................................................4Stages of Team Development.................................................................................................4Motivation Theories...............................................................................................................4Different types of Leadership Styles-.....................................................................................5TASK 5............................................................................................................................................5Covered in PPT.......................................................................................................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONBusinesses involves a variety of operations and procedures that are essential enough formaintaining a balance between different activities of an organisation (Jia, Govindan and et.al.,2015). There are various factors that are associated with the business and its operations such asaccounting, communication, customer services etc. The report is about discussing differentenvironments of businesses, various functions along with accounting and various stages of teamdevelopment and functioning. It also involves the influence of customer profiling and servicingon the success and productivity rate of the business. Various types of leadership style is alsodiscussed with functional examples.TASK 1Covered in PPTTASK 2Importance of accounting for business successAccounting plays a major and important role in providing financial statements that can beconsidered by organisations and their stakeholders at the time of taking economic decisions. Indecision making process, an organisation can take better decisions after analysing the financialstatus of the company (Mase, Adeyeye and et.al., 2016). Also, it helps in making budgetprojections for future so that management should know that how to much in different types ofdepartment so that maximum utilisation would attain. It is important so that business may nothave to go under any sort of failure. There have been observed various fraud cases and scandals,so a pre evaluation can help the firm to make modifications and changes in financial status asnecessary. Different functions carried by HR departmentThere are various functions carried out by the HR department and all these plays animportant role in maintaining a balance between processes and activities of an organisation.Basic function is considered as selection, recruitment and training. In this, HR selects somecandidates qualifying the criteria, then on basis of skills and capabilities, recruits the ones whoare capable enough. After recruiting, they provide proper training and induction to thesecandidates making them aware of their roles and responsibilities. Their main work is to maintainand update the database of employees so that no problem would get arise in the future.(Toneyand Marvin, 2015). Whether it is about salary structure, employee's record and any such factor, it1
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