Introduction to Business Studies

INTRODUCTION TO
BUSINESS STUDIES

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 3............................................................................................................................................3
Discuss the theory of HR motivation.....................................................................................3
TASK 4 ...........................................................................................................................................7
Analyse the importance and role of the financial management.............................................7
CONCLUSION ...............................................................................................................................9
REFERENCES .............................................................................................................................10

INTRODUCTION
Business studies refers to an essential term that helps the organisation to take the day to
day decision for the longer survival of the business firm. It helps the organisation to gives the
good understanding of the environment in which company exist. This term helps in encouraging
the people to take the decision that are beneficial for the organisation so that it will survive for a
longer period of time. This report is based on the Marks & Spencer that is one of the
multinational retailing company in UK that deals in different range of offerings like clothing,
food, home wares, financial services etc. It covers internal and external factors that will
impacted the business. This also includes the one part of marketing elements that helps in
gaining high profits and market share. Further, HR motivation theory i.e. Maslow's need
hierarchy theory and Herzberg two way theory helps in smooth functioning within the firm. At
last this study is based on the financial management report that helps in securing and arranging
the funds so that company will get higher revenues and longer sustainability.
TASK 3
Discuss the theory of HR motivation
A. Human resource
It refers to the set of people that represents as a workforce of a business enterprise,
economy or the industry. IN case of Marks & Spencer, Human resource is an essential
department that is mainly responsible for the firm work related things. It involves the major
activities that are hiring, promotion, firing employees, on boarding, training etc. that helps the
business firm to work smoothly and effectively(Ghauri, Grønhaug and Strange, 2020).
B. what is motivation
It refers to type of experience that is related with the desire and aversion. It showcasing
the process of guiding initiatives and goal oriented behaviour that helps the company to attain
their targets in effective and efficient manner. In case of Marks & Spencer, human resource
manager can mainly focusing on motivating the employees so that they give their best for the
success of the firm that is the foremost vision of the company.
C. Analyse two motivational theories
Motivation theory refers to that theory which is used by the business organisation for
encouraging and motivating the workers so that they can focus on attaining the goals in an