How Business Operate

How Business operate

Table of Contents
Introduction..........................................................................................................................................3
Task 1....................................................................................................................................................3
Covered in PPT...........................................................................................................................3
TASK 2.................................................................................................................................................3
2.1 Importance of Accounting.....................................................................................................3
2.2 Different functions of HR.....................................................................................................3
2.3 Employment Legislation.......................................................................................................4
TASK 3.................................................................................................................................................4
3.1 Interpret the information of profit and loss account..............................................................4
TASK 4.................................................................................................................................................5
4.1 Stages of Team Development................................................................................................5
4.2 Organisation Chart of TESCO..............................................................................................6
Role and Responsibilities............................................................................................................6
4.3 Motivation Theories..............................................................................................................7
4.4 Leadership styles...................................................................................................................8
TASK 5.................................................................................................................................................8
Covered in PPT...........................................................................................................................8
Conclusion............................................................................................................................................9
References:.........................................................................................................................................10

Introduction
Business operation is a process of daily activities carried by business for profit earning and
to generate value and growth. Business operation differs according to industry, business type which
can be run by profit and non profit organisations (Adrodegari and et. al., 2017). To perform business
operation it includes elements of staffing, technology process and location. business operation are
basically performed in retail, manufacturing, service, and technology industry. The role of business
operation helps in measuring the performance, generate revenues to cover the cost, analysis on
market trends and opportunity. In this report various tasks are discussed on business environment,
customer service, team development etc.
Task 1
Covered in PPT
TASK 2
2.1 Importance of Accounting
Accounting refers to a process of recording the financial transactions of the business which includes
analysing, summarising, reporting and interpretation of the transactions.
1. Record of transactions- Accounting keeps systematic records of day to day transaction of
the business which help them in the comparison of financial data to historical data.
2. Decision making- As accounting information and data is kept by the internal user includes
employees which help the management in the quick decision making as there is
interpretation of the results (Gehlhar, 2021).
3. Planning – To run the organisation successful proper planning is necessary which includes
cash, sale, procurement, stock quantity planning etc. on the basis of accounting information
and data.
2.2 Different functions of HR
1. Human resource planning- The main function of the HR department is to determine the
future needs of the organisation to whom they recruit, their selection, learning and
development. It also determines what kind of people, skills and capabilities an organisation
required.
2. Recruitment and selection- The function of HR involves the process of attracting,
screening, interviewing the suitable candidates for the jobs and selecting the best candidates
among them for the organisation so that goals can be achieved efficiently.