How Businesses Operate

How Businesses Operate

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
TASK 2............................................................................................................................................4
2.1 Importance of accounting for business success................................................................4
2.2 Different functions carried out by HR department in organisation..................................4
2.3 Features of employment legislation..................................................................................5
TASK 3...........................................................................................................................................5
3.1 Present and interpret accounting information using P&L accounts.................................5
TASK 4............................................................................................................................................6
4.1 Stages of Team Development...........................................................................................6
4.2 Analysis to determine roles in organisation.....................................................................7
4.3 Assess three motivational theory for sustainability..........................................................8
4.4 Different types of leadership style....................................................................................8
TASK 5............................................................................................................................................8
CONCLUSION..............................................................................................................................10
REFRENCES ................................................................................................................................11

INTRODUCTION
Business environment is an environment which means it is a collection of entities and
organisation which is not under the control of organisation because it is affected by performance
and growth of organisation. They have to operate in such a way in order to gain competitive
organisation. In this report it include importance of business activities and different function
which is performed by HR department. It also include employment legislation and stages of team
development. There is some motivational theories to motivate employees and styles of
leadership.
TASK 1
Covered in PPT
TASK 2
2.1 Importance of accounting for business success
Accounting is very important for business as this help organisation to maintain track their
daily performance and can maintain their records in proper manner. Some of the importance of
accounting are explained below: Budget Planning: It help Tesco as they help them to analyse the expenses and can plan
for budges. This is because the selected organisation assign budget to every department
so they can not overspend on waste resources. To make budget they want records and it
can be maintain with the help of accounting. Organisation can also monitor performance
by assessing profit and loss of business (Taamneh, Athamneh, and Nsairat, 2017). Filing tax return: Accounting help company because they maintain all records and then
prepare financial statement and this also include cash flow statement, trading P&L and
many other. Because of accounting it become easy for Tesco to present true and fair view
of accounting and can file tax return easily.
 Improved payment cycle: This is the another reason where accounting is important as it
help company to improve payment cycle like receiving and paying money. Tesco

maintain their accounts properly and with the help of this they pay wages, salaries to
employees on time.
2.2 Different functions carried out by HR department in organisation
HR is important part of organisation as it is only one who manage people and activities of
organisation. There are various functions performed by human resource department such as HR
planning, recruitment and selection, performance management, rewards, industrial relation and
many more (Sarode and Deore, 2017). Some of the functions which are followed by HR
department of Tesco are as follows: Recruitment and Selection: In context to Tesco, they select and recruit most talented
employees by monitoring their skills and competencies which help them to achieve
business objectives. They conduct interviews on different forms as candidates have go
through all process interview process. Training and development: This is the another function of HR department of Tesco
where they give training to new as well as existing employees for performing functions
effectively. Development is to build skills and competencies of employees to put their
efforts in order to achieve business goal.
 Benefits and Compensation: In relation to Tesco, this is main role where HR
department has to pay compensation according to the work performed by them and give
other benefits which include insurance, extra reward etc.
2.3 Features of employment legislation
The main features of employment legislation are equal opportunities to employees for
job, prevention of sexual harassment for positive work environment, working hours regulation,
remuneration and salary for work, industrial relationship with trade union, safety and health of
employees. The two important employment legislation in context to Tesco is mentioned below: Working hour regulation: There should be working hour and they should communicate
to employees according to the legal rules and regulation which means they should state
working hours. In United Kingdom The working time regulations, 1998 states that they
have right of 28 days paid holidays and can take break from activities which are perform
by them.