This report examines various aspects of business operations, including different types and structures of organizations in the public and private sectors, the importance of accounting and HR functions, employment legislation, team dynamics, motivation theories, leadership styles, and the impact of customer service and customer profiling.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Business Operation
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of Contents INTRODUCTION...........................................................................................................................3 TASK 1............................................................................................................................................3 1.1 Presenting types of organization in public and private sector...............................................3 1.2 Different structure................................................................................................................3 1.3 Impact on economic environment.........................................................................................4 TASK 2............................................................................................................................................4 1. Importance of accounting........................................................................................................4 2. Functions of HR department...................................................................................................4 3. key features of employment legislation..................................................................................5 TASK 3............................................................................................................................................6 1. Profit and loss account............................................................................................................6 TASK4.............................................................................................................................................6 1. Own and others' role in a team................................................................................................6 2. Stages of team development....................................................................................................6 3. Theories of motivation............................................................................................................7 4. Different types of leadership style..........................................................................................7 TASK5.............................................................................................................................................7 1. Impact of customer service.....................................................................................................7 2. Benefits of customers profiling...............................................................................................8 CONCLUSION................................................................................................................................8 REFERENCES................................................................................................................................9 .........................................................................................................................................................9
INTRODUCTION Business operations and plans are done to increase the efficiency and productivity of a company. This report focus all the operations which affect the business environment. It describe different types and structures of sectors in UK. The report explain the importance of accounting for business success and features of employment legislation and it explain complete information regarding profit and loss account. The report tells the importance of customers service for a business success. TASK 1 1.1 Presenting types of organization in public and private sector Enclosed in PPT 1.2 Different structure Enclosed in PPT 1.3 Impact on economic environment Enclosed in PPT TASK 2 1. Importance of accounting Accounting is the basic necessity and there is a great need of accounting in business success because it will help in prevention of fraud and show the exact financial position of company as compared to last many years. With the help of proper record keeping, the objective of accounting is fulfilled. Accounting help in decision making and it also givesproper information related to finance (Importance of Accounting,2018). Using accounting in a business, an individual can easily control the cost as per need and overall it increases the efficiency of wholemanagementsystem.Accountinginformationsystemishelpfulinincreasesthe profitability and liquidity of whole system. 2. Functions of HR department ï‚·HR main function is to recruit new people for vacant position. They advertise relted to job and then take interview and hire new employee for job. ï‚·They maintain good relation with their staff and employees in order to take the business in new level of success. Employee relation with HR make the bond stronger in the term of employer and employee relationship(Strom, Sears and Kelly, 2014).
ï‚·They evaluate every individual performance and take an action to pay extra facility like bonus, incentives etc. ï‚·They also provide leadership training to their staff in order to motivate them for better performance and achieve all the targets of a company. 3. key features of employment legislation ï‚·The law states that there should not be any discrimination regarding age, gender, caste, religion etc. ï‚·Disable people should be treat equally in every workplace. ï‚·Employment legislation discourage age discrimination. ï‚·This law support minimum wages and equal pay to all the workers even though they have different caste and religion (De Vito and et.al., 2018). ï‚·If any worker work extra except their duty hours then company should pay overtime. ï‚·This law support to pay grievances to all the employees. ï‚·There should not be any kind of harassment in workplace because it is illegal and as per the rules it is wrong in the eyes of law. TASK 3 1. Profit and loss account Profit and loss account help to determine the exact financial position of a company. The above image show the net profit earned during a year and this profit is determine after deducting all indirect expenses. The preparation of profit and loss account is done after trading account. On
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
the debit side of profit and loss account gross loss is shown and on the other side that is credit side, gross profit show. This statement help to to determine the exact financial position of a company. TASK4 1. Own and others' role in a team To lead a team in positive and right direction, I must have the best quality of leadership because a good leader will always try to motivate the team members and must possess good communication skill. A good coordination and collaboration between team members will help to achieve the targets and goal of a company. Members of a team should be positive and honest towards their work field and complete all the duty which are assigned to them in exact time. Some members have lack of confidence which should be develop by leader only. 2. Stages of team development Forming:it is the first stage of team development where whole team just introduce themselves and discuss about the team goals and objectives. It is important to know each other to work together in a team (Scheffer and Heckhausen, 2018). Storming:under this stage, members of a team start making inter relationship with each other and then a team leader assign task to each and every members. Sometime this stage is skipped by many leaders. Norming:during this stage, people appreciates the work done by their team members and each and every member contributed their work in the allotted task (Holten and Brenner, 2015). Performing:it is also called success stage of where team members perform the task and they are familiar with their work. Adjourning:under this stage, members feel sad because whole team is disbands. 3. Theories of motivation Hertzberg:under this theory, describe different satisfaction level of job and help to determine the level of satisfaction. Advantages:help to increase the satisfaction and hygiene level of factors in job. Disadvantage:motivation can change the lifestyle of an individual. McGregor's Participation Theory:this theory help to know the views of human being based on worker's participation (Strom, Sears and Kelly, 2014).
Advantages:this theory help to analyses the people's taste and culture. Disadvantage:This theory only focus on human need. Maslow:this theory explain all the basic requirement of human being and changes it into hierarchical manner. Advantages:only focus on specific need of its customers. Disadvantage:no other method which help to measure the satisfaction level of customers. 4. Different types of leadership style Autocratic style:It is the center style among all. This style help to communicate and take right decision (Beyan and et.al., 2018). Team leadership:This style help to lead the team and create variety of pictures for future Cross cultural leadership:this style help to lead a team who have members belonging to different cultures in a society. TASK5 1. Impact of customer service Enclosed in PPT 2. Benefits of customers profiling Enclosed in PPT CONCLUSION From the above report it is concluded that having a good leadership quality and motivation skill will lead a team in better way. A good customer service will provide a positive impact on business environment and it also explain different theories of motivation and present different style of leadership. The report also concluded that having a good customer impact is a key to organization success.
REFERENCES Books and Journals Beyan, C. and et.al., 2018. Prediction of the leadership style of an emergent leader using audio and visual nonverbal features.IEEE Transactions on Multimedia.20(2). pp.441-456. De Vito, L. and et.al., 2018. Employee motivation based on the hierarchy of needs, expectancy and the two-factor theories applied with higher education employees.IJAMEE. Hiebl, M. R., 2018. Management accounting as a political resource for enabling embedded agency.Management Accounting Research.38. pp.22-38. Holten, A. L. and Brenner, S. O., 2015. Leadership style and the process of organizational change.Leadership & Organization Development Journal.36(1).pp.2-16. Nitzl,C.,2018.ManagementAccountingandPartialLeastSquares-StructuralEquation Modelling (PLS-SEM): Some Illustrative Examples. InPartial Least Squares Structural Equation Modeling(pp. 211-229). Springer, Cham. Scheffer,D.andHeckhausen,H.,2018.Traittheoriesofmotivation.InMotivationand action(pp. 67-112). Springer, Cham. Strom, D. L., Sears, K. L. and Kelly, K. M., 2014. Work engagement: The roles of organizational justiceandleadershipstyleinpredictingengagementamongemployees.Journalof Leadership & Organizational Studies.21(1). pp.71-82. Online ImportanceofAccounting.2018.[Online]Available through:<https://study.com/academy/lesson/what-is-accounting-purpose-importance- relationship-to-business.html>
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.