Understanding Business: Skills, Employability, and Challenges

UNDERSTANDING
BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Graduate employability prospects...............................................................................................3
Key concept of employability.....................................................................................................3
Explanation of current skills and personal attributes and how they valuable at workplace........4
How the skills can be developed.................................................................................................5
Impact of external world on business decision making..............................................................5
Concept of SMEs........................................................................................................................5
Two major challenges currently facing by UK SMEs and suggest possible solutions in order
to overcome these challenges......................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Business organisations requires lot of skills and knowledge and hard work. These
activities involve business operations, production and value of stakeholders. These activities can
be intangible in nature and value the assets which is owned by business (Storey, 2016). There are
various skills which are required by small businesses as it is important to know the various skills
in order to produce products and delegate to others. There are many business skills such as
strategic management, accounting, marketing, operations, people and financial management.
This report is going to focus on the graduate employability and the needs and expectations of
employers with their employees. It also include personal attributes, skills and knowledge which
is required in graduate student in order to perform their professional career and also justify that
why these skills are valuable in the workplace. Moreover, it describes that how external factors
influences the business in decision making and describes the two challenges which are currently
face by UK SMEs and suggestions to overcome these challenges.
MAIN BODY
Graduate employability prospects
Graduate employability means that candidate who have completed their education and
has developed the capacity to do work. As per the trends, employers want those employees who
are techno-friendly and can easily tackle technology related issues. These employees require
various skills which helps in defining the personal attributes which are needed by an employer
because through this it becomes easy for them to recruit well performed professionals in the
organisation (Trugman, 2016). Candidates who have appropriate skills are an asset and big
players for company because they are helpful in achieving suitability and profitability of
environment.
Key concept of employability
It is an attribute which makes a person capable enough to gain and maintain employment.
It is an ability which helps in the initial development and ensures the key competencies which
helps in career counselling and also balance the transitions between the job and responsibility.
Employability is the relation of qualities and competencies which is required to meet the needs
of employers. In terms of technological knowledge, every employer want that candidate who is