Foundations of Business Management

This report discusses the concept of business management and its role in enhancing organizational performance and growth. It focuses on the benefits of effective communication and the implementation of new communication platforms in Luton Town Residencies. The report also highlights the challenges faced by employees in communication and provides solutions to improve communication and increase productivity.

Foundations
of
Business Management
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Executive summary
This report consist of business management in Luton Town Residencies It shows how
business managements helps the organisation in increasing its performance in the market. there
are various benefits of business management in the organisation which helps the business in
building their goodwill in the markets . Employees of Luton Town Residencies are facing
various issues related to communication in the organisation due to which growth of the business
is getting affected in the market because employees are not able to resolve the queries of the
customers. Due to which general administration team has provided the new communication
platform to the employees which helped in providing effective communication in the
organisation so that revenue of the business can be increased.
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Table of Contents
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................5
Reasons.......................................................................................................................................5
Business options..........................................................................................................................5
expected benefits.........................................................................................................................5
Expected Dis-benefits.................................................................................................................5
Timescale....................................................................................................................................5
Cost.............................................................................................................................................5
CONCLUSION................................................................................................................................5
PART 2 Reflection...........................................................................................................................5
REFERENCES................................................................................................................................5
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INTRODUCTION
Business management is the concept which includes analysing, organising, planning of
different types of operations in the organisation so that goals can be achieved effectively it helps
the business in increasing its profit in the market. Management of business operations helps in
increasing the productivity of the business in the market so that growth of the business can be
achieved management in the business is very important it helps the organisation in enhancing its
performance in the market so that best services can be provided (Clark and Fast, 2019). If proper
management will take place in the business then it will help in improving the services of the
business in the market due to which revenue of the business will be increased because if the
organisation will provide high quality of services to the customers it will increase the demand of
the company in the market.
LTR is the housing association which operates with the aim of providing proper housing for
local communities Central office of LTR is located in the Luton town Centre it provides the best
housing facilities to the economy so that growth in the economy can take place. In this report it
will be analysed that how business management helps the organisation in achieving its growth in
the market.
MAIN BODY
Reasons
Luton Town Residences is one of the best housing association company which operates in Luton
this organisations supports distinct housing block which are supported housing and general
purpose Housing in general purpose housing there are four housing blocks in various locations
each block contains individual management offices. On the other hand supported housing
provides emergency hostels to the young aged people, Transitional flats for the old leaving care,
hostels for the mothers of young aged. These housing blocks are operated by several department
which helps in the functioning of the business.
General purpose housing is managed by different functional teams like finance team, customer's
service team, facilities maintenance team in case of any issue residence can contact the customer
service department.
Supporting housing is also run by various functional teams they assign the personal coach to
each residents so that needs and requirement of the individual can be satisfied properly. Personal
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coaches are responsible for the safety of the residence of the society. In the organisation effective
communication is very important so that proper resolution can be provided to the customers. In
Luton town Residencies employees are facing problems related to communications. Due to
which employees are facing issues in the operations of the business. Most of the communication
issues are occurring due to high amount of emails in the business due to which mus-
communication is taking place in the organisation which is affecting the performance of the
employees. The reason for conducting this report is to provides solution to the organisation so
that issues of the business can be resolved and proper planning of strategies can take place.
Business options
To resolve the issues of the employees town hall meeting is conducted in which various
issues regarding the communication has been highlighted by the staff members. The employees
of General administration were unhappy with the remote working facilities because they have to
available every time via emails to resolve the queries of the customers due to which functioning
of the employees were unmanageable which can affect the reputation of the company in the
market. As per Employees emails is the poor way of communicating and manage the facilities of
the organisation. Due to overloaded mails responses cannot be provided on time which the
affected the productivity of the business. All the staff members ask for new communication
platform so that effective communication can take place. Due to which business provided new
way of communication to the employees to resolve their issue which are Microsoft teams, slack,
flowdack and discord which can improve the communication of the business. Company can also
use various project management tools, internal blogs which can be video or audio. Issue tracking
and case software, discussion forums, web conferencing, online collaboration etc. so that
effective communication can take place (Paschek and Draghici, 2018).
expected benefits
By providing effective communication platforms company can increase its productivity
in the market by providing best resolution to the customers various platforms improve the way of
communication between the management and the employees which helps in increasing the
goodwill of the business in the market it also creates positive atmosphere for the employees
which increases there efficiency due to which innovation in the business takes place which also
helps in building the customers loyalty by providing best services to the customers. Innovation in
the business develops the growth of the company in the market which helps in increasing the
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demand of the company in the market. If the demand of the business will increased in the
markets it will also increase the sale of the business in the market. There are many benefits of
effective communication which can helps the business to improve its services in the market. And
if issue of the employees will be resolved it will increasing their capacity in the assigned which
be beneficial for the growth of the company in the market (Rau, 2018).
Expected Dis-benefits
If the business will depend on the technology for each and every work then it will reduce
their working capacity in the organisation which can affect the growth of the business in the
market. Employees will wait for the responses as each communication platform is not effective
in providing the accurate information which reduce the performance of the business in the
market. Many times there are barriers which can effect the communication between the
employees and the management due to which growth of the business can get affected. There are
difference in the ideas of the sender and receiver if they will communicate through the other
platforms
Timescale
Company will take 3 months to develop the effective communication platforms in the
organisation by analysing the advantages and disadvantages of the communications platform so
that productivity of the business cannot get affected and performance of the employees can also
be increased. Effective communication is very important for the employees, stakeholder and
managers because they helps in increasing the profit of the company by planning their strategies.
Before developing any new technique in the business proper planning is very important so that
productivity cannot get affected and data of the business cannot get misused because various
communication platforms can provide the risk to the business related to the misuse of the data
and information.
Once the project will be completed it will take 4 months to provide it benefits because at the
initial stage employees will learn to use it once they will get familiar will the new
communication platform then they can easily take benefits of the platform which will helps in
improving there services ion the market. Every project takes times time to provide benefits to the
organisation.
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Cost
The project cost involved in this project is 16000 GBP and the ongoing maintenance cost which
will incurred is 5000 GBP because maintenance cost is less than the project cost so that better
outcome can take place without affecting the financial stability of the company so that profit of
the business can be increased and effective services can be provided (Martínez-López, 2020).
CONCLUSION
As per the report it has been analysed that business management helps in increasing the
profit of the business in the market fulfilling all the necessary requirement of the business which
helps in providing the proper environment to the employees due to which there efficiency in the
business can be increased which will provide better services to the customers which will also
help in increasing the demand of the business in the market. In the given organisation employees
were facing various issue related to the effective communication which affect their performance
in the business but with the development of various communication platforms company has
resolved the issues of the employees which will help in increasing the efficiency of the
employees in the business. It also helped business in providing better of sharing data and
information so that gaols of the business can be achieved effectively.
PART 2 Reflection
As per my experience effective communication helps in increasing the profit of the
business in the market it provides an effective way of communication if the organisation will
provides various communication platforms to the business then it will helps the organisation to
increase its performance in the market. Effective communication can get developed if the
employees are interacting with the team members effectively if I am the owner of the
organisation I will develop the healthy relationship with my employees by solving there queries
so that there confidence level can get increased and better performance of the employees can
take place. I will provide the proper guidance to the employees regarding their assigned work so
that there performance cannot get affected in the business. Working in a team develops the skills
and knowledge of the team members by sharing of ideas which also helps in improving the
communication skills. In the organisation better services can take place only with the effective
communication because it increases the growth chances of the business in the market in the
business lack of communication can affect the productivity of the business in the market due to
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which its growth in the market will get affected. I will maintain the proper record information so
that information cannot get clashed in the organisation due to which chances of loss can be
occurred in the organisation. Effective communication provides better working environment to
the employees Due to which it demand in the business cannot get affected (Hannesto and Surya,
2017).
There are various skills which has been developed like communication skills it plays an
important role in the life of the individual person should be both written and verbally strong
enough to communicate as per the report it has provided me various skills which helps me to
improve my confidence in front of others because if I will not be confident while communication
then it can affect my growth in the future which can also affect my career communication always
provide good impact on the other it provide the positive impact on the others which helps in
attracting the attention of the people. If my communication skills will be weak then it will affect
my image in front of others. Problem solving skills helps to develop a leader in the individual if I
will develop the leadership skills in myself then it will help me to increase my confidence and
skills in the life leaders plays an important role in every place because they are the one to
develop the team in any organisation which will helps in increasing the profit of the business.
Problem solving skills in me helps in resolving any conflicts in the my life which will helps me
to become successful in life. It also helps in the decision making which will the early growth.
Only knowledge cannot helps the person in their growth problem solving skills is also very
important it provides the more advantage to the person. It will me different from others which
will increase by my growth chances ion the future. If I will be able to solve my problems then I
don't have to depend to anyone from my work which can be beneficial for me. While solving any
problem patients is very important it helps me in increasing my skills more effectively problem
are always hard to resolve due to people loose patients very fast which affect their work. My
skills with working in a team as also been developed by above experience because working with
others is not easy various skills are required so that proper outcome can take place a person
should be interactive if I will not interact properly with other it will affect my image which will
also reduce the growth chances. Working with other shows how confident you are while
interacting and using your skills and knowledge so that better responses can be provided there
are various benefits of working with other it helps me in developing the creativity so that better
idea can be generated. Team work also helps in the improving the productivity of the business so
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that more profit can be earned. It also helps in motivation so that my work can be improved and
healthy relations can be developed when I will work with the team it will helps me develop my
skills by learning more which will helps in increasing my skills and knowledge. Team work
helps in developing the career by improving the services working with others helps in the
individual growth.
By the use of Gibbs reflective model it provides me various learning plan through which my
skill and knowledge has been developed this model provides a framework for analysing the
experiences which will helps me evaluating the advantage and disadvantages of the experience.
This model includes 6 stages description, feelings, evaluation, analysis, conclusion, action plan.
Each model guides you about the experiences which will help in developing your growth and
career. Gibbs model helps in experiencing new things it helped me in adapting the changes so
that my confidence level cannot get affected. Also it developed the self awareness in the
individual which will increase the growth chances ( Warhurst and Corlett, 2017). It provides the
great sense of work which boost the confidence level in me. Various skills in the individual like
communication skills, patience level, motivation, active listening skills helps in providing better
advantages individual which will help the individual in increasing their growth in the economy if
I will have all the required skills then it will help me in creasing my growth chances in future my
building my confidence level.
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