Introduction to Business Studies

Introduction to
Business Studies

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 2............................................................................................................................................1
Covered on Poster........................................................................................................................1
TASK 3............................................................................................................................................1
Definition of HR..........................................................................................................................1
Meaning of Motivation................................................................................................................1
Two Motivational theories...........................................................................................................2
Background information of company..........................................................................................4
Ways in which company motivates their employees. Steps taken for ensuring that employers
remain motivated.........................................................................................................................4
TASK 4............................................................................................................................................5
Introduction..................................................................................................................................5
Financial management.................................................................................................................5
Importance of financial management ..........................................................................................6
Role of financial managers or management ................................................................................6
Sources of finance........................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Business studies refers to academic subject which is taught to students in schools as well
as universities in various nations. It allows in depth study about organisation, marketing, human
resource management, etc. it assist in making huge informed decisions in living of everyday
business and provides better understanding of work of world (Ghauri, Grønhaug and Strange,
2020.). For introduction to business studies, Marks and Spencer is chosen. It is major retailer in
UK which is specialised in selling food products, clothes, financial services and home essentials.
The present assessment includes case study about the company on HR area of Motivation
and the ways the entity motivates their employees. Further, the report highlights about
importance of finance functions, role of financial management and sources of finance.
TASK 2
Covered on Poster
TASK 3
Definition of HR
HR is defined as human resource which are set of people that makes entire workforce of
entity, business sector and economy. It is division of company which is charged with recruiting,
selection, training, compensation management and administering benefit programs for manpower
(Bratton and Gold, 2017). Main objective of human resource is to utilise organisational people in
most effective manner and dealing with issues like recruitment and selection, performance
management, organisational development, compensation and benefits.
Meaning of Motivation
Motivation refers to the procedure which initiates, guides as well as maintains objective
oriented attitudes and behaviours. It includes emotional, cognitive, biological addition to social
forces that have huge role in activating behaviours. Motivation arouses an individual to perform
towards desired objectives (Kanfer, Frese and Johnson, 2017). For example, When employees of
Marks and Spencer are motivated, they have satisfaction from the job and workings. Motivation
is important as it assist in self development of a person and help them to accomplish personal
goals.
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