Oscar Jewellery and Accessory

Running head: OSCAR JEWELLERY AND ACCESSORY
OSCAR JEWELLERY AND ACCESSORY
Name of the Student
Name of the University
Author note

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OSCAR JEWELLERY AND ACCESSORY
Introduction
This business has been selected on the basis of its potential and constant growth factors
since 10 years. It is locally popular in the Australian country and becoming the first choice of the
local people of that area. There were other local business setups which were although running in
that area but did not receive much public response. There is another shop dealing with the same
business objective is a competition for this venture. As the owner of Oscar jewelry and accessory
I would condition the situation in a way to get sustained and capture more market space for the
business expansion. The customers are contended with the supply and availability of store
products and assured quality (Wheelen et al., 2017). To sustain this goodwill in the market I need
robust exposure to various drivers of effective decisions for establishing and expanding my
business. From the workbook topics, it is expected to get the practical understanding of different
factors that would decide the future success and sustainability of the business.
The selected factors will address the following aspects:
State of development- The approach to be used is the leadership approach, cost effective
measures in carrying out the business and also different kinds of other business approaches
including the HR activities and functions.
Explaining the success of the business- It covers up everything that is required to shape the
success of the business setup and also the challenges faced as the owner of the venture. Running
business involves a great risk and these factors ultimately resulting in effective gains.
Illustration- In order to redefine the success and identify profit areas, application of the needed
topics from workbook is required to be applied to business. This is the practical demonstration of
these applications of factors and the business is then tested with several possibilities that can go

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OSCAR JEWELLERY AND ACCESSORY
through solving major business issues and focusing on the final objectives. There can be
probabilities of these factors as it depends on how they are applied and the intensity of situations.
Motivation
Motivation implies the constant stimulation or the interest of putting efforts in certain job
or tasks or business, in particular research, development or studies (Lăzăroiu, 2015)). It is the
persistence hold by the human beings with internal and external forces to make out ways of
reaching the final objective. Motivation is that power that keeps the hopes enlightened until the
goal is achieved.
As the business owner of Oscar Jewelry and Accessory I need to keep the skilled staff
and also who are loyal in my company. To hire an employee I have invested on their trainings,
developing their mindset to match with the kind of business they are into (Chang, 2016). So, it is
now my responsibility to work on them to retain these qualified employees to keep going the
business. For example, when there were new designs arrived in the market and demand raised for
it, I have sent send them to get trained in making new form of demanded jewelries and
accessories. This was implemented for the staffs to ensure they have the same motivational level
towards their work. I keep updating their salary structures and incentives that is based on their
work performance which is quite measurable from both employee and employer’s end (Rasche,
2017). As an owner I believe the workers are not the slaves in my firm and they have liberties to
take decisions in favor of the firm when required. I keep applying the HR regulations like job
rotations and process of enlargement to retain their interests towards work. Rewards,
reinforcements and recognitions for entertaining for employee job security is ca constant practice
that I go through. Empowering employees is just another way to success for any business as they
have to deal directly with customers (Cohen, 2017). As it is a store in locality it cannot be closed