Introduction to Business Studies

Introduction to
Business Studies

Table of Contents
Task 3 : HR: Case Study (HR area of Motivation).........................................................................2
Definition of HR.........................................................................................................................2
What is motivation......................................................................................................................3
Motivational theories .................................................................................................................3
Task 4: Financial management Report .........................................................................................5
Introduction.................................................................................................................................5
Financial Management................................................................................................................6
Importance of financial management .........................................................................................6
Role (job) of the Financial Manager in a company ....................................................................6
Sources of finance ......................................................................................................................7
Conclusion..................................................................................................................................8
REFERENCES................................................................................................................................9
Task 3 : HR: Case Study (HR area of Motivation)
Definition of HR
Human resource forms a vital and most important division and functional department of
an organisation that is responsible for for attracting, finding, screening, recruiting, selecting,
directing and providing regal training for a job applicant (Sætersdal and Johannessen, 2019).

Further, HR department is also having the charge of admins rating all needs and benefit
preprogram of employees with main aim of developing their skills and motivating employees for
better results.
What is motivation
Motivation basically represent a set a process that leads and initiates guidance for
employees and maintain a goal oriented and positive behaviour in employee in order to keep
them encouraged towards there work and action (Stolfova and Fajfrlikova, 2019). Thus,
motivation comprises of a biological forces, social aspects, emotional behaviour and other
cognitive forces that enforces and direct employees to activate their behaviour in order to
achieve and lead better performance.
Motivational theories
These comprises of set of action and procedure which are tasked at discovering the needs,
ways and desires that derives individuals to work more effectively and efficiently towards
accomplishment and achievement of set goals (Sætersdal and Johannessen, 2019). The two most
common strategies and motivational theories used by Marks and Spenser are provided and
discussed below to motivate its employees in order to make them productive and ensure
economic use of resources.
Maslows Hierarchy of needs
This motivational theory comprises of five tier model of human needs based on
psychology of an individual which is presented in form of a hierarchical levels of a pyramid. The
another concept of Maslows Hierarchy of needs theory comprises of evidence that needs lower at
the pyramid must be satisfied first to attend and reach higher up desires and needs. The
description and discussion about these needs of an individuals and employees is provided below
in context of Marks and Spencer.
Physiological needs- It represent the set if most basic needs of an individual which
composes of food, water, shelter, cloth, sleep etc. Physiological needs are defied as the most
basis requirement of an employee which must be satisfied by employer to provide a better mind
set and ability to work (Tuan, 2018).
Safety and security needs- These needs comprises of the control and safety level of
individuals which is usually based on their financial and emotional security and comprises of law
and order, social stability, freedom from fear along with safety from miss happening to ensure