How Businesses Operate

How Businesses Operate

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
TASK 2 ...........................................................................................................................................3
TASK3 ............................................................................................................................................4
TASK 4 ...........................................................................................................................................4
TASK 5 ...........................................................................................................................................6
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................9
Books and Journals.....................................................................................................................9

INTRODUCTION
Establishment of a business enterprise is not as easy as it may sound. A detailed research work
needs to be conducted in order to introduce a new enterprise within an industry. The proposed
report highlights upon the elements and attributes that needs to undertaken by an individuals in
order to operate a business unit.
TASK 1
Covered in PPT
TASK 2
Importance of accounting for business functions
 Accounting can be characterised as management function that allows the business firm to
maintain a systemic statement and record of the organisation's financial transaction.
 Accounting statement provides adequate assistance to the firms to identify and determine
the financial performance as well as the financial stability of the firm. It also leads to effective decision making process in the firm as accounting procedures
provides necessary insights about the financial position of the firm and various decisions
needs to be formulated in consideration of the same.
Functions of HR department in a business organisation
 The primary function of HR department is to facilitate human resource planning in order
to detriment the number and type of workforce required in the organisation.
 The HR team is also required to lead to the recruitment and selection procedures within
the firm in order to hire skilled and talented workforce. The HR personnel also needs to manage the performance of the staff members and is also
required to regulate the compensation, regards and appraisal mechanism in the respective
business entity (Mosteanu, 2020).
Key features of employment legislation
Some of the major characteristics of employment legislations exercised in United Kingdom are
as follows :-
 Equal and fair employment opportunities needs to be provided to every citizen of the
country.