Business Resources Assignment

Added on - 07 Jan 2020

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BUSINESS RESOURCES
TABLE OF CONTENTSINTRODUCTION................................................................................................................................3TASK....................................................................................................................................................3P 1 Recruitment documentation used in M&S.................................................................................3P 2, M2 Importance of employability, personal and communication skills required in therecruitment and retention of staff in M&S.......................................................................................4P3 Physical and technology resources required in the operation of M&S.......................................4M1.....................................................................................................................................................5D1.....................................................................................................................................................6P4 Sources of internal and external finance for M&S......................................................................7P5 and M3 Contents of a trading, profit and loss account and balance sheet for M&S...................7P6 Use of budgets as a means of exercising financial control of M&S...........................................8P7 Financial state of M&S................................................................................................................9D2 Evaluation of adequacy of accounting ratios............................................................................10M 4 Analysis of reasons of why costs need to be controlled to budget..........................................10D 3 Evaluation of problems identified from unmonitored costs and budgets................................10CONCLUSION...................................................................................................................................11REFERENCES...................................................................................................................................12
INTRODUCTIONStarting a new business or running an existing trade seems like a most difficult task. To run abusiness in successful manner, business resources are playing an important role. It can beconsidered as a tool that uses to establish, maintain or manage different operational activities of anorganization (Balle, 2016). These resources either are a person or an intangible object. Effectivenessof each sourcevariesaccording to the way as the manager of a company use it to perform variousoperations and a clear understanding about those resources. The present study is based on businessresources and to understand its significance within the enterprise, Marks and Spenser (M&S) istaking into the consideration (Bae, Rowley and Sohn, 2012). Objectives that will cover under thecurrent research are importance of employability and personal skills in the recruitment and retentionof staff, role of managing resources and budget control techniques to improve business performanceand different sources of finance for a chosen organization.TASKP 1 Recruitment documentation used in M&SM&S has needed different kinds of recruitment documentation at the time of selection ofstaff for particular job roles. To describe the recruitment documents used in cited company, SalesAssistant job role is taking into the consideration. Descriptions of those documents are as follows:Job role: Sales AssistantJob Description:PostSales assistantReporting toSales ManagerLocationLondonEmployment TypePermanentPay Scale$ 2000 per monthResponsibilitiesKeeping records of sales of products.Ensure the growth number of sales of products and enhancingprofitability.QualificationsMBA in Marketing and SalesComputer literacyRequirements for the post: To perform the job role of sales assistant in M&S, there are some
requirements for the position. The first requirement is employ person should be converting theneeds and desires of the customers into the increase the sales services. Second is appointingemployee should have the enough knowledge about its job roles. Along with this, he should be ableto forecast the sales of goods for the upcoming future.Skills require for job positionKnowledge regarding retail productsHandling sales related complaintsAble to provide the assistance to the subordinatesGood communication and analytical skills.P 2, M2 Importance of employability, personal and communication skills required in the recruitmentand retention of staff in M&SIt is important for a candidate to make sure about his employability, personal andcommunication skills that required for apply to a particular job role in an organization. In thecontext of M&S, these three things have played an important role at the time of hiring of staff for aspecific job position (Shah, 2010). Employability skills are those skills necessary for getting,keeping and being successful in a job.The management of the cited company has ensured that thereshould be eight skills in the hire candidate for the sales assistant. These employability skills arecommunication, teamwork, problem solving, initiative and enterprise, planning and organizing, selfmanagement, learning and technology.The reason of giving importance to this skill sets by theM&S at the time of recruitment of a new staff is to recruit the suitable and capable employee for thevacant job position (Booker, Detlor and Serenko, 2012).On the other hand, M&S has also focusedover the personal skills at the time of recruitment and selection of person for sales assistant. Criticalthinking, dependable, flexible, interpersonal and motivation are some personal skill set that look byorganization during appoint a candidate for cited job role.While communication proficiency alsotakes into the consideration at the timeof recruiting a new staff member for sales assistant job roleby the M&S. The hiring team makes certain that appoint personnel have good communication skillsso that they can fulfil the requirement of the job positions(AbecassisMoedas, Ben MahmoudJouini and et.al., 2012).P3 Physical and technology resources required in the operation of M&STo perform the several business operations, M&S has needed some kinds of physical andtechnology resources. These have helped in run several business activities in the right manner. Inthis context, explanation of physical and technology resources are as follows:Building and facilities: M&S is a biggest retail chain in the UK and to operate the business,
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