Motivation and Financial Management in Pret a Manager

This assessment discusses the aspects of HR such as motivation and financial management in Pret a Manager. It explores the role of HR in motivating employees and implementing motivation theories. It also highlights the objectives and roles of financial management in the company.

Pret a Manger
company

INTRODUCTION...............................................................................................................................3
A CASE STUDY..................................................................................................................................3
Aspect related to HR such as motivation...........................................................................................3
A REPORT..........................................................................................................................................4
Financial management.......................................................................................................................4
CONCLUSION....................................................................................................................................6
REFERENCES....................................................................................................................................7

INTRODUCTION
Human resource utilise for describing both people who work for an business firm as
well as department who is responsible for management of resources related to staff members.
Major work of Human Resource within an business firm is employees motivation,
organisational behaviour as well as section assessments began to take shape. Apart from this,
Financial management simply means planning, organizing, directing as well as controlling
financial activities like procurement and utilisation of business firm funds.
This assessment is based on Pret a manager which is international sandwich shop
chain based within United Kingdom and popularly referred to as Pret. It was founded in 1983
and at present have more than 450 shops within nine nations i.e., UK, US, Hong Kong,
China, France, Germany, Denmark, Dubai and Singapore. In addition to this, respective
assessment is classified within two part where first is based on case study which will discuss
aspects related to HR such as motivation and another is report which will elaborate financial
management and its role in company.
A CASE STUDY
Aspect related to HR such as motivation
Human resource is department within an organisation which is in charge of each and
every staff member as well as operations related to them. In addition to this, Human Resource
take care of business firm most valuable assets i.e., employees. Moreover, HR professional
ensure that staff member have each and everything which required for performing task as
well as day to day activities (Muscalu and Ciocan, 2016). Along with this, they are also
responsible for creating healthy working environment which help in attracting and retaining
qualified candidates in company. Apart from this, there are several activities performed by
human resource division which include recruiting, managing employee relation as well as
creating companies policies. There are several role of Human resource in motivation of
employees which they perform within Pret Company. Below mention are several ways which
an respective business firm use for motivating their staff members. Explanation of these are
as follows :-
 Create friendly working environment – Everyone want to work in friendly
environment because in this they will be able to share their views, thought,
ideas and so on within effective manner. In simple term it can be said that,
friendly environment motivate employees in effective manner because they

feel free for conducting daily operations and also for discussing their view
points. Not only this, but friendly environment help in creating positive
environment within organisation so that company will be able to accomplish
their goals and objective in effective manner without facing any difficulties.
 Acknowledge employees achievements – It is most important to
acknowledge employees achievements and appraise them because it is most
effective way which provide assistance in motivating them within effective
manner (Polat, Bal and Jansen 2017). Acknowledge staff member feel more
motivated to work in effective manner and gain competitive advantages which
are within organisation.
 Rewarding employees – When an individual perform in effective manner
their motive is to gain some rewards and it is one of the most important tool
which provide assistance to business firm in motivating their staff members
within effective manner. If one single employee gain reward then other will
automatically get motivate and started working in effective manner so that
better outcomes will be gained by them. In addition to this, rewards can be
both financial and non-financial but motive of both is common to motivate
employees foe enhancing their performance and organisation productivity.
There are several types of rewards such as bonus, holiday packages,
promotion and many other which attract employees for performing in more
better manner.
 Positive communication is key – Everyone communicates at work as well as
it is probably the easiest thing which company can do with their staff
members. Yet it can also be the most difficult. Spend a short period of time
each day to have a word with employees; discussing things from concerns to
ideas (Karam, 2019). In simple term it can be said that, better communication
within organisation result in accomplishing employees motivation within
effective manner as well as help in accomplishing organisational goals as well
as objectives.
 Encouraging friendly competition – It is important for an organisation to
create little as well as healthy competition because it will not hurt employees
but result in their motivation. In simple term it can be said that, competitive
environment is provide for both company as well as personnel. Friendly
competition encourage participation of employees in competition or

challenges as it is healthy as well as may actually lead to enhance camaraderie.
In simple term it can be said that, friendly competition within team helps
within staff members engagement as well as employees participation.
It is important for an organisation to implement appropriate strategies within their working so
that they will be able to motivate as well as retain employees within their business fir. Both of
these are important for gaining long term sustainability within business environment as well
as also for accomplishing goals and objectives in effective manner (Khan and et. al., 2019).
Apart from this, HR of Pret company can implement motivation theory also for motivating
their employees and conducting operations in effective manner. Explanation are as follows :-
Herzberg’s motivation theory – This is also known as two factor theory which argues
that there are major two factors within an organisation which can adjust for influencing
motivation within workplace. In addition to this, Herzberg’s motivation theory tries foe
getting motivation root within business firm. This theory play important role in getting best
performance from their team members (Herzberg’s motivation theory- Two Factor Theory,
2018). Two factors involve within respective theory are motivating factors and hygiene
factors. Explanation of these in relation of Pret sandwich company are as follows :-
 Motivating factors – In an organisation presence of motivators causes staff member to
work harder. They are found within actual job itself. Moreover, Pret company have to
implement several motivational tools as well as factors within their working for
motivating staff members in effective manner. In simple term it can be said that,
motivating factors result in increasing employees job satisfaction in appropriate
manner. Along with this, motivation factors includes achievements, recognition, the
work itself, responsibility, achievement, growth and many more.
 Hygiene factors – Absence of hygiene factors will result in cause staff member to
work less hard. In addition to this, hygiene factors if not presented within actual job
itself but surround the job. In simple term it can be said that, poor hygiene result in
decreasing job satisfaction of staff members. Thus, it is essential for an business firm
to maintain hygiene within their organisation for improving productivity and gaining
competitive advantages (Mäkelä and Kinnunen, 2018). There are several hygiene
factors such as company policies, supervision, relationship, work condition, salary,
status, security and several other.

By implementing these factors within effective manner Pret company will able to accomplish
their goals of motivating employees within more effective manner.
A REPORT
Financial management
For every type of business finance is lifeline and help company in conducting their
work in appropriate manner (Gros, Koch and Wallek, 2017). In addition to this, like several
other resource’s finances are always limited but play important role in working of business
firm. Whereas, wants are always unlimited. Although, it is essential for an corporation to
manage its finances within effective way. In addition to this, for an organisation financial
management is organic function as well as every business firm requires to obtain physical
resources for carrying out production activities as well as other business operations, paying
compensation to suppliers and many more.
In other words it can be said that, financial management means planning, organizing,
directing as well as controlling financial activities like procurement as well as utilisation of
business firm funds. It simply means applying general management principles to financial
resources of corporation (Meidell and Kaarbøe, 2017). In relation of Pert sandwich company
there are several role of financial management as well as have various objectives also. Pret a
manager which is international sandwich shop chain based within United Kingdom and
popularly referred to as Pret. It was founded in 1983 and at present have more than 450 shops
within nine nations i.e., UK, US, Hong Kong, China, France, Germany, Denmark, Dubai and
Singapore. In addition to this, there are several objectives of financial management in Pret
company explanation of these are as follows :-
 To make sure regular as well as adequate fund supply to the concern particular
activity so that targets will accomplish.
 To make sure appropriate return to shareholders that depend on earning capacity,
shares market prince as well as expectations.
 Ensure funds optimum utilisation as well as once funds are procured Pret company
have to use it in maximum possible manner to least cost (Raiborn and et. al., 2017).
 For ensuring safety on investment which simply means that funds have to be
investment on safe venture so that appropriate rate of return can be accomplished.

 It is important to design capital structure in sound manner as well as there should be
fair composition of capital. So that, balance within debt and equity capital will
maintain.
Apart from this, there are several roles of financial management within Pret company so that
daily activities will conduct in effective manner without facing any difficulties. Role of
financial management in relation of respective company are as follows :-
 Estimation of capital requirement – It is major role of finance management as
manger of respective division has to make estimation in relation of capital
requirement of business firm (Gebrayel and et. al., 2018). Estimation of capital
requirement is depended on expected costs and profits as well as future programs and
policies related concerns. In addition to this, it is important to make estimation within
adequate manner because it will result in increasing earning capacity of business firm.
 Determination of capital composition – When estimation has been made next step is
related to deciding capital structure (Lamba, 2018). Thus, it involve short as well as
long term debt equity analysis as well as it is depended on the proportion of equity
capital an business firm is possessing as well as additional funds that have to be raised
from outside parties.
 Choice of sources of funds – For additional funds to be procured, an organisation
have several choice related to sources of funds such as issue of shares and debentures,
loans to be taken from banks and financial institutions as well as public deposits to be
drawn like in form of bonds.
 Investment of funds – For an organisation it is important to investment funds within
profitable venture so that it will give better return on the amount invested. In addition
to this, it also result in safety on investment as well as regular return as much as
possible.
 Disposal of surplus – Within Pret Company net profit decision made by finance
manager and it done in two manner such as dividend declaration – It includes
identifying rate of dividends as well as other benefits like bonus. On the other hand,
another way is retained profits – Which simply means that volume has to be decided
that will be depended on innovational, expansional as well as diversification of
company plans.
 Management of cash – Financial manager of Pret Company have to take decision
related to cash management (Mäkelä and Kinnunen, 2018). Within business firm cash

is needed for several reasons such as payment of salaries and wages, payment to
creditors, payment of electricity and water bills, meeting current liabilities,
maintenance of proper stock, buying raw material and many more.
 Financial controls – Finance Manager of Pret Company not only focus to plan,
procure as well as utilise the funds but also exercise high control over finances. By
using several techniques, it can be done such as ratio analysis, cost control, financial
forecasting, profit control and many more.
After going through above discussion, it has been decided that financial management is
important part of an business firm and it play important role in managing funds of company
within effective manner. With the assistance of this, they will able to gain goals and
objectives in appropriate manner without facing any difficulties.
CONCLUSION
After going through above discussion, it has been summarised that Human resource as
important part of an business firm as it work for the welfare of employees and help in
motivating them. There practices have positive impact on the working of business firm
because motivated staff member work in more effective manner as well as result in
improving business productivity. Apart from this, it has been determined that finance is
backbone of an organisation and its management is essential so that daily basis activities will
conduct within effective manner without facing any difficulties. There are several role of
financial management within an organisation which provide assistance to company in
managing their work within appropriate manner.

REFERENCES
Books and Journals
Muscalu, E. and Ciocan, F., 2016. Attracting and motivating employees during changes in
organization. The role of the human resources department. Journal of Defense Resources
Management, 7(2), p.153.
Polat, T., Bal, P. M. and Jansen, P. G., 2017. How do development HR practices contribute to
employees’ motivation to continue working beyond retirement age?. Work, Aging and
Retirement, 3(4), pp.366-378.
Karam, A., 2019. The Impact of Training and Development on Different Cultural Employees
Performance through Interaction Employees Motivation in Erbil Public and Private
Banks. Karam, AA (2019). The Impact of Training and Development on Different Cultural
Employees Performance through Interaction Employees Motivation in Erbil Public and
Private Banks. Mediterranean Journal of Social Sciences, 10(1), p.193.
Khan, Z. and et. al., 2019. The role of HR practices in developing employee resilience: A
case study from the Pakistani telecommunications sector. The international journal of human
resource management, 30(8), pp.1342-1369.
Mäkelä, L. and Kinnunen, U., 2018. International business travelers’ psychological well-
being: the role of supportive HR practices. The International Journal of Human Resource
Management, 29(7), pp.1285-1306.
Lamba, S., 2018. Effects of IFMIS Practices in Public Finance Management Performance: A
Case Study of Kenya Power and Lighting Company (Doctoral dissertation, United States
International University-Africa).
Gros, M., Koch, S. and Wallek, C., 2017. Internal audit function quality and financial
reporting: results of a survey on German listed companies. Journal of Management &
Governance, 21(2), pp.291-329.
Meidell, A. and Kaarbøe, K., 2017. How the enterprise risk management function influences
decision-making in the organization–A field study of a large, global oil and gas
company. The British Accounting Review, 49(1), pp.39-55.
Raiborn, C. and et. al., 2017. The internal audit function: A prerequisite for Good
Governance. Journal of Corporate Accounting & Finance, 28(2), pp.10-21.
Gebrayel, E. and et. al., 2018. Effective association between audit committees and the
internal audit function and its impact on financial reporting quality: Empirical evidence from
Omani listed firms. International Journal of Auditing, 22(2), pp.197-213.
Online
Herzberg’s motivation theory- Two Factor Theory, 2018.[Online].Available through<
https://expertprogrammanagement.com/2018/04/herzbergs-two-factor-theory/>