Business Operations Report: Financial and HR Insights

This report provides a comprehensive overview of business operations, encompassing various aspects crucial for organizational success. It begins by presenting different types of organizations in the public and private sectors, along with their structures and economic impacts. The report then delves into the significance of accounting, the functions of the HR department, and key features of employment legislation. It includes information on profit and loss accounts, team dynamics, leadership styles, and motivation theories. The report also explores the impact of customer service and the benefits of customer profiling, concluding with a summary of the key findings and their implications for business strategy and operational efficiency. PPTs are enclosed within the report to better explain the topics.

Business Operation

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Presenting types of organization in public and private sector...............................................3
1.2 Different structure ................................................................................................................3
1.3 Impact on economic environment.........................................................................................4
TASK 2............................................................................................................................................4
1. Importance of accounting........................................................................................................4
2. Functions of HR department...................................................................................................4
3. key features of employment legislation..................................................................................5
TASK 3............................................................................................................................................6
1. Profit and loss account............................................................................................................6
TASK4.............................................................................................................................................6
1. Own and others' role in a team................................................................................................6
2. Stages of team development....................................................................................................6
3. Theories of motivation............................................................................................................7
4. Different types of leadership style..........................................................................................7
TASK5.............................................................................................................................................7
1. Impact of customer service.....................................................................................................7
2. Benefits of customers profiling...............................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
.........................................................................................................................................................9

INTRODUCTION
Business operations and plans are done to increase the efficiency and productivity of a
company. This report focus all the operations which affect the business environment. It describe
different types and structures of sectors in UK. The report explain the importance of accounting
for business success and features of employment legislation and it explain complete information
regarding profit and loss account. The report tells the importance of customers service for a
business success.
TASK 1
1.1 Presenting types of organization in public and private sector
Enclosed in PPT
1.2 Different structure
Enclosed in PPT
1.3 Impact on economic environment
Enclosed in PPT
TASK 2
1. Importance of accounting
Accounting is the basic necessity and there is a great need of accounting in business
success because it will help in prevention of fraud and show the exact financial position of
company as compared to last many years. With the help of proper record keeping, the objective
of accounting is fulfilled. Accounting help in decision making and it also gives proper
information related to finance (Importance of Accounting,2018). Using accounting in a business,
an individual can easily control the cost as per need and overall it increases the efficiency of
whole management system. Accounting information system is helpful in increases the
profitability and liquidity of whole system.
2. Functions of HR department
 HR main function is to recruit new people for vacant position. They advertise relted to
job and then take interview and hire new employee for job.
 They maintain good relation with their staff and employees in order to take the business
in new level of success. Employee relation with HR make the bond stronger in the term
of employer and employee relationship (Strom, Sears and Kelly, 2014).

 They evaluate every individual performance and take an action to pay extra facility like
bonus, incentives etc.
 They also provide leadership training to their staff in order to motivate them for better
performance and achieve all the targets of a company.
3. key features of employment legislation
 The law states that there should not be any discrimination regarding age, gender, caste,
religion etc.
 Disable people should be treat equally in every workplace.
 Employment legislation discourage age discrimination.
 This law support minimum wages and equal pay to all the workers even though they have
different caste and religion (De Vito and et.al., 2018).
 If any worker work extra except their duty hours then company should pay overtime.
 This law support to pay grievances to all the employees.
 There should not be any kind of harassment in workplace because it is illegal and as per
the rules it is wrong in the eyes of law.
TASK 3
1. Profit and loss account
Profit and loss account help to determine the exact financial position of a company. The
above image show the net profit earned during a year and this profit is determine after deducting
all indirect expenses. The preparation of profit and loss account is done after trading account. On

the debit side of profit and loss account gross loss is shown and on the other side that is credit
side, gross profit show. This statement help to to determine the exact financial position of a
company.
TASK4
1. Own and others' role in a team
To lead a team in positive and right direction, I must have the best quality of leadership
because a good leader will always try to motivate the team members and must possess good
communication skill. A good coordination and collaboration between team members will help to
achieve the targets and goal of a company. Members of a team should be positive and honest
towards their work field and complete all the duty which are assigned to them in exact time.
Some members have lack of confidence which should be develop by leader only.
2. Stages of team development
Forming: it is the first stage of team development where whole team just introduce
themselves and discuss about the team goals and objectives. It is important to know each other to
work together in a team (Scheffer and Heckhausen, 2018).
Storming: under this stage, members of a team start making inter relationship with each
other and then a team leader assign task to each and every members. Sometime this stage is
skipped by many leaders.
Norming: during this stage, people appreciates the work done by their team members
and each and every member contributed their work in the allotted task (Holten and Brenner,
2015).
Performing: it is also called success stage of where team members perform the task and
they are familiar with their work.
Adjourning: under this stage, members feel sad because whole team is disbands.
3. Theories of motivation
Hertzberg: under this theory, describe different satisfaction level of job and help to
determine the level of satisfaction.
Advantages: help to increase the satisfaction and hygiene level of factors in job.
Disadvantage: motivation can change the lifestyle of an individual.
McGregor's Participation Theory: this theory help to know the views of human being
based on worker's participation (Strom, Sears and Kelly, 2014).

Advantages: this theory help to analyses the people's taste and culture.
Disadvantage: This theory only focus on human need.
Maslow: this theory explain all the basic requirement of human being and changes it into
hierarchical manner.
Advantages: only focus on specific need of its customers.
Disadvantage: no other method which help to measure the satisfaction level of customers.
4. Different types of leadership style
Autocratic style: It is the center style among all. This style help to communicate and take
right decision (Beyan and et.al., 2018).
Team leadership: This style help to lead the team and create variety of pictures for future
Cross cultural leadership: this style help to lead a team who have members belonging to
different cultures in a society.
TASK5
1. Impact of customer service
Enclosed in PPT
2. Benefits of customers profiling
Enclosed in PPT
CONCLUSION
From the above report it is concluded that having a good leadership quality and
motivation skill will lead a team in better way. A good customer service will provide a positive
impact on business environment and it also explain different theories of motivation and present
different style of leadership. The report also concluded that having a good customer impact is a
key to organization success.

REFERENCES
Books and Journals
Beyan, C. and et.al., 2018. Prediction of the leadership style of an emergent leader using audio
and visual nonverbal features. IEEE Transactions on Multimedia. 20(2). pp.441-456.
De Vito, L. and et.al., 2018. Employee motivation based on the hierarchy of needs, expectancy
and the two-factor theories applied with higher education employees. IJAMEE.
Hiebl, M. R., 2018. Management accounting as a political resource for enabling embedded
agency. Management Accounting Research. 38. pp.22-38.
Holten, A. L. and Brenner, S. O., 2015. Leadership style and the process of organizational
change. Leadership & Organization Development Journal. 36(1).pp.2-16.
Nitzl, C., 2018. Management Accounting and Partial Least Squares-Structural Equation
Modelling (PLS-SEM): Some Illustrative Examples. In Partial Least Squares Structural
Equation Modeling (pp. 211-229). Springer, Cham.
Scheffer, D. and Heckhausen, H., 2018. Trait theories of motivation. In Motivation and
action (pp. 67-112). Springer, Cham.
Strom, D. L., Sears, K. L. and Kelly, K. M., 2014. Work engagement: The roles of organizational
justice and leadership style in predicting engagement among employees. Journal of
Leadership & Organizational Studies. 21(1). pp.71-82.
Online
Importance of Accounting. 2018. [Online] Available
through:<https://study.com/academy/lesson/what-is-accounting-purpose-importance-
relationship-to-business.html>