Report on Importance of Accounting for Business - Hennes & Mauritz

HOW BUSINESS OPERATE

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Covered in PPT.......................................................................................................................1
TASK 2............................................................................................................................................1
2.1 Importance of accounting for business success................................................................1
5.1 Different functions performed by Human Resource Department....................................1
5.2 Key features of employment legislations ........................................................................2
TASK 3............................................................................................................................................2
3.1 Information on profit and loss account.............................................................................2
TASK 4............................................................................................................................................3
4.1 Analysis to determine your own and others’ roles within a team....................................3
4.2 Notes which can be used to support future training events.............................................4
4.3 Appropriate use of different motivational theories in business activities........................5
4.4 Impact of various leadership styles on employees...........................................................5
TASK 5............................................................................................................................................5
Covered in PPT.......................................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
To operate the business it is important that company understands the environment as this
is the factor that affects the business operation internally and externally. Therefore, it is essential
that organisation learn about all the component that are present at market place (Trevino and
Nelson, 2016). This includes legal, political, socio-cultural environment and political element.
Hennes & Mauritz is a multinational clothing retail store and its headquarter is in Stockholm,
Sweden. The report will be focussing on the types along with the structure of private and public
sector in UK. Other than this, how the compnay is operating its business at local, national and
global level. Lastly, the impact of customer services on the company so as to attain success.
TASK 1
Covered in PPT
TASK 2
2.1 Importance of accounting for business success
Accounting is very essential for an organisation so as to run their business in an effective
manner. It helps the company in making appropriate decisions because without a proper
management and adequate data this could not be possible (Aronoff and Ward, 2016). Accounting
provides details about the financial statements in terms of profit and loss, cost and earning that is
gained in one financial year. Therefore, it is used in order to evaluate the money that was spent
for business organisation this will assist them in taking key decisions as it will give an overview
about the financial statement of the organisation. Through this firm can expand and increase their
capital base by implementing appropriate methodologies in having proper accounting.
5.1 Different functions performed by Human Resource Department
Human resource department is very efficient and provides basic facilities to the
organisation so that a structure and systematic procedures can be followed. New recruitment is
the main function that is performed by the Human Resource Department, and they hire eligible
candidates who are best suited for the vacant position. For this, company usually give
advertisement in televisions, newspapers, magazines and many more. Other than this, they try to
provide job safety to individuals who are working in a particular company in terms of health and
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