Business Operations, Accounting, and Team Dynamics Analysis Report

This report delves into various aspects of business operations, starting with an introduction to business activities and organizational structures. It emphasizes the significance of accounting in recording financial transactions, analyzing market status, and planning future strategies. The report further explores the functions of the Human Resource Department, highlighting its role in workforce management, training, and ensuring smooth organizational functioning. Employment legislation, including key acts like the National Minimum Wages Act and the Employment Rights Act, is discussed to protect employee rights. The report then analyzes the profit and loss account of Tesco PLC, interpreting its financial performance. It also covers team development stages based on Bruce Tuckman's theory, outlining roles within a team, and exploring motivational theories such as Maslow's hierarchy and Mayo's theory. Different leadership styles, including democratic and autocratic styles, are also examined. The report concludes by summarizing the key findings and reinforcing the importance of various business elements.

How Business
Operates

Contents
Introduction.................................................................................................................................................3
Task 1..........................................................................................................................................................3
Task 2..........................................................................................................................................................3
Determine the importance of accounting in the success of a business...................................................3
The profit and loss statement helps the company to determine their standards in the market.............3
Functions carried out by Human Resource Department.........................................................................4
Features of employment legislation........................................................................................................4
Task 3..........................................................................................................................................................4
Interpret the data of profit and loss account of Tesco PLC......................................................................4
Task 4..........................................................................................................................................................5
Stages of developing team......................................................................................................................5
Determine own and other role within a team.........................................................................................6
Motivational theories..............................................................................................................................6
Types of leadership styles........................................................................................................................7
Task 5..........................................................................................................................................................7
Conclusion...................................................................................................................................................7
References...................................................................................................................................................9

Introduction
Business is an activity where individual sales their product and services in order to attain
their desirable goals from the competitive market. They engage to earn profitability from the
marketplace. Business operation refers to the functions of the business which helps the
entrepreneur was to attain their targets (Brinch, 2018). This report is discussed about the
different kinds of organisation businesses and there different structures which are followed by
the Enterprises in order to attain there goals. The business accounting is also discussed to
examine the growth of the organisation. Moreover, the report talks about the functions of Human
Resource Department and they are important in the company. Further, the employment
legislation is discussed which helps the employees to protect their rights with respect to their
work. The profit and loss account of Tesco PLC is also discussed. Tesco PLC is the company
which deals in the retail sector industry and located in England. The customer profiling is also
discussed which helps the business for their sustainable growth.
Task 1
Covered in PPT
Task 2
Determine the importance of accounting in the success of a business
Accounting plays an important rule in order to record the financial transactions of the
business which helps the company to examine their status in the market. It includes the process
of summarizing and analysing the transactions of the company so that they can plan the future
strategies which will be used to attain their future goals. It is important for the organisation
because:
The profit and loss statement helps the company to determine their standards
in the market.
The statement helps in determining the status of cash inflow and outflow. These
statements help the investors to invest their funds in company which resulted in the allocations of
resources in a better way.

Functions carried out by Human Resource Department
The Human Resource Department plays an important function in the company as they
used to hire and manage the workforce in the organisation. The department used to provide
proper training to the new employees so that they can give their best output towards attaining the
common goal of the firm (Hollebeek, 2019). The department take several steps in order to make
smooth functioning.
Features of employment legislation
Employment legislation refers to the laws which are provided to the employees in order
to protect their rights in their working environment. There are several Acts which are made by
them and some of these are as given below:
National minimum wages Act, 1998: main objective behind this act is to provide
minimum amount of wages to their employees by the employers. This helps the employees to get
protected by the unfair means of practices which may be conducted by the employers in the
organisation.
Employment rights Act, 1996: this act includes the rights of the employees such as
employment Contract Act, Family-Friendly leave and redundancy and other acts which helps
them in protecting the employees from unfair practices. The act main objective is to protect the
rights of employees in companies.
Task 3
Interpret the data of profit and loss account of Tesco PLC
It is the duty of every form to maintain their books of accounts which will be used to
analyse the profit and losses which are made during the particular period of time. It is used to
examine the income and expenditures which are incurred by the company.

The above mentioned data is is the profit and loss statement of Tesco PLC. It is used to
examine the influent outflow of the income in company. By this data it can be said that in the
year of 2019 the company has gained the profit of 1167 and in the year 2020 the company also
came the profit of 1528. By analysing the data it can be says that the company is in the growth
existing techniques.
Task 4
Stages of developing team
Every organisation has to examine the value of their workforce in terms of individual and
all together. The workforce plays an important role in order to attain the common goal of the
organisation. The teamwork will also so help the form to achieve their targets in an effective
manner (Samara and et. al., 2018). The Bruce Tuckman has given the theory necessary and
equitable which helps the form to perform their operations of team and enhance the growth of the
organisation. The theory is being divided into four stages which are discussed below:

Forming: at the initial stage, the employees individually come together to form a team
into an organisation. Digit divided on the grounds of their skills and knowledge which are
possessed by them.
Stroming: after the teams are divided into the group. The employees faces and conflict
between different opinions of them with respect to functions of the company.
Norming: at the third stage to remove the conflicts of different opinions every employees
use to respect the ideas of other colleagues. They started working together in order to attain the
objective of forming team.
Performing: in the last stage, when all the employees work together as a part of a team in
order to achieve the desires of the company in an effective manner.
Determine own and other role within a team
The organisation used to bifurcate different functions into the different departments so
that the company can attain their goals easily. In this report I have chosen executive marketing
manager as a post because this position plays an important role in order to promote the
production other services to attract the customers which will be resulted in profitability of the
firm. I have a team of 10 people which are subordinate of me. As a team leader I used to
manage in develop the strategies in order to promote the food and beverages products. Me and
my being used to execute the promotion techniques which would be used to attract the targeted
customer to enhance the profitability. And the manager I use the horizontal structure which is
used to order the name that relation between the peer groups and helps in better coordination
among each other.
Motivational theories
The company used to motivate their employees so that they can attain their common
goals for which they are hired. There are several theories the company can use to motivate their
employees some of those are as follows:
Malow's motivational theories: it is the theory in which the employee used to motivate
their workforce to attain their goals. It is the theory which is divided at five stages. Initially the
company used to satisfy the basic needs of their employees so that we can feel happy. After
providing the basic needs the company used to provide safety and security within the
organisation which makes employee more secure in the company. At the next stage, the

company used to provide employees with love and belongings so that they can feel comfort in
the organization (Mrkajic, 2017). Moreover the company used to satisfy the Esteem of the
workforce which helps them to satisfy their self actualization which helps them to provide the
best outcome of their skills and knowledge which are possessed by them and for which they are
hired. When the employees are satisfied with their personal needs and wants then only they can
give their best to the firm. It is important for every organisation to use motivational theories in
order to motivate their workforce which can be resulted in positive brand image in the market.
Mayo Theory: it is the theory of motivation where the author says that the employees
must be given some extra thanks such as extra healthy working environment and other rewards
which help in motivating the workforce and resulted in better outcome from them.
Types of leadership styles
The company e used to divide the Employees with respect of their skills and the work in
order to get better outcome in a short period of time (Sousa-Zomer and Miguel, 2018). There are
several leadership styles which can be used by the company to handle their teams some of them
are as discussed below:
Democratic style: it is the leadership style where the leaders used to take views of their
team members before coming on the final decision. The team leader used to ask by their team
members about what they think.
Autocratic Style: it is the another leadership style where the team leader used to say
whatever I am saying you have to do that. With respect of this style the leaders to not consider
any opinions of the other team members. They think that he is the only one who who has all
skills and knowledge in themselves.
Task 5
Covered in PPT
Conclusion
From the above report it can be concluded that, business is an activity where the
entrepreneurs used to sell their products and services in order to game revenue from it. It plays
and significant role in the development of economy. The companies can be owned and governed

by the individuals or by the government authority. There are several business structures which
are used by the company in order to attain their targets. It can be concluded that, customer
feedbacks plays and major role in order to determine the status of the company. The positive
feedbacks helps in motivating the workforce and the negative feedbacks helps in determining the
new strategies which can be used to satisfy the needs and wants offer customers.

References
Books and Journals
Brinch, M., 2018. Understanding the value of big data in supply chain management and its
business processes. International Journal of Operations & Production Management.
Chae, H.C., Koh, C.E. and Park, K.O., 2018. Information technology capability and firm
performance: Role of industry. Information & Management, 55(5), pp.525-546.
Curtis, G.L., 2020. Big business and political influence. In Modern Japanese organization and
decision-making (pp. 33-70). University of California Press.
Goyal, S., Esposito, M. and Kapoor, A., 2018. Circular economy business models in developing
economies: lessons from India on reduce, recycle, and reuse paradigms. Thunderbird
International Business Review, 60(5), pp.729-740.
Hollebeek, L.D., 2019. Developing business customer engagement through social media
engagement-platforms: An integrative SD logic/RBV-informed model. Industrial
Marketing Management, 81, pp.89-98.
Ling, S.L.M., 2018. The transformation of Malaysian business groups. In Southeast Asian
Capitalists (pp. 103-126). Cornell University Press.
Mrkajic, B., 2017. Business incubation models and institutionally void
environments. Technovation, 68, pp.44-55.
Samara and et. al., 2018. Who are the best performers? The environmental social performance of
family firms. Journal of Family Business Strategy, 9(1), pp.33-43.
Sousa-Zomer, T.T. and Miguel, P.A.C., 2018. Sustainable business models as an innovation
strategy in the water sector: An empirical investigation of a sustainable product-service
system. Journal of Cleaner Production, 171, pp.S119-S129.
Veltsos, J.R., 2017. Gamification in the business communication course. Business and
Professional Communication Quarterly, 80(2), pp.194-216.