Business Resources Report: Marks and Spencer, Finance and Skills

This report provides a comprehensive analysis of business resources, focusing on Marks and Spencer as a case study. It begins by exploring recruitment documentation, including job advertisements, job descriptions, person specifications, and application forms. The report then delves into the essential employability, personal, and communication skills required for various job roles, particularly for a marketing executive. It further examines the physical and technological resources necessary for a company's operations, followed by a detailed discussion of internal and external financial sources. The report covers trading, profit and loss accounts, balance sheets, and the use of budgets for financial control. Overall, the report illustrates the financial state of a given business, offering valuable insights into resource management and financial strategies.

Business Resources

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Describe the recruitment documentation...........................................................................1
P2 Describe the main employability and personal and communication skills required when
applying for a specific job role...............................................................................................4
TASK 2............................................................................................................................................6
P3 Describe the main physical and technological resources required in the operation of a
company.................................................................................................................................6
TASK 3............................................................................................................................................7
P4 Describe sources of internal and external finance for organisation..................................7
P5 Trading and profit and loss account and balance sheet of company.................................8
P6 Illustrate the use of budgets as a means of exercising financial control of a selected
company.................................................................................................................................9
P7 Illustrate the financial state of a given business..............................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Every business organisation requires various kind of business resources for
accomplishing their business activities in effective manner (Akter and et. al., 2016). Business
resources are of many types such as physical resources, financial resources, non financial
resources, technological resources etc. The current report is based on Marks and Spencer, a
renown retail company which is belonging to fashion sector. The company is famous for
providing high quality of products to its customers. This report will include description on
different recruitment documentation which are being used by business organisations. It also
shows how company is using different skills for retaining stall in the company for longer period
of time. At next, it describes about impact of non financial resources on company's operational
activities. In the last section of the project, description about role of financial resources will
going be discussed.
TASK 1
P1 Describe the recruitment documentation
Recruitment documentation are considered as the important part of every company as
they are used by HR manager at the time of planning for workforce enhancement. With reference
to Marks and Spencer, its HR manager are mainly using four type of recruitment documentation
at the time of workforce planning. In this regard, all of these four recruitment documentation are
stated as below along with their examples.
Job advert
Job advertisement is often called as job advert, which is a mainly used by companies for
notifying their applicants that they are hiring employees for specific job role. It can be seen as
the request application that are made for influencing targeted audience. With reference to the
Marks and Spencer, it can be said that its HR manager initially analyse job vacancy in the
company and then prepares job advert according to job position for notifying targeted audience
about job vacancy (Bell, Bryman and Harley, 2018). HR manager posts these job adverts at
website of company and other linked recruitment agencies. Job advertisements are highly
important for the company as it helps them in attracting pool of applicants towards company.
Sample of job advertisement for the post of marketing executive is stated as below:
Job advertisement
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Marketing Executive required
Interested candidates are required to have knowledge about latest tools and techniques of
marketing which are cost effective and helpful for company in attracting maximum number of
customer.
Marketing Executive
Applicants are required to have below stated skills:
 Minimum 4 years of experiences of similar sector company
 Capability to deal with sales target
 Effective communication skills to attract customer towards company
Interested applicants can apply on companies website or email id along with their CV. F or
more enquiry please feel free to contact at 555533333.
Schedule
Invitation for applications 5-7 August, 2019
Short listing of applications 10-15 August, 2019
Call for HR round 22-27 August, 2019
Interview date 28-30 August, 2019
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Job description
Job description is considered as the written document that clearly describes job
responsibilities, roles, tasks and related duties of the specific job position. Job description is
mainly made for specific job role which helps company in defining selected candidate about the
actual job and its related responsibilities (Burns, 2016). In context of Marks and Spencer Job
description helpful for company for maintaining transparency with the employees. According to
the investigation, it has been analysed that in Marks and Spencer post of Marketing executive is
vacant. In this regard job description for this position is stated as below:
Person Specification
Person specification is considered as the detailed description of experience, skills,
knowledge and qualification of candidate which are required for the specific job role. Person
specification is highly important for the company as it helps them in interacting with the actual
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traits of applicants in terms of education, past experience and related skills (Cascio, 2015). With
reference to Marks and Spencer sample of person specification for the marketing executive is
stated as below:
Application form
Application form refers to the written document which are required to be filled by
applicants at the time of applying for particular job. With reference to Marks and Spencer, it can
be said that Applications forms are very essential for the company as it helps them in pre-
screening job applicants. Application for this company includes employment history, contact
information, educational background, referrals etc. Sample of Application form for Marks and
Spencer is stated as below:
P2 Describe the main employability and personal and communication skills required when
applying for a specific job role
Employability skills
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Employability skills refers to the skills which are required to be owned by individual for
approaching job of their choice. It can be said that if an individual owns these skills then it is
helpful for them to survive longer in the company as with this they are having positive and
friendly relationship with their colleagues as well as managers (Inman, 2016). Example of
employability skill includes positive attitude, team working ability, self management, effective
communication, willingness to learning etc. With reference to the vacant position of marketing
executive in Marks and Spencer, it can be said that this job position specifically requires good
interpersonal skills, business savvy, creativeness, analytical skills, capability of influencing
others etc. type of employability skills in candidate so that there marketing work could be
managed in effective manner. These employability are highly required in marketing executive as
it helps them bringing more business for the company and developing its positive brand image
among customers.
Personal skills
Personal skills refers to those skills which are owned by an individual but they are not
always used by individual in their professional career (Le Breton–Miller and Miller, 2015).
Personal skill in an individual are mainly of two types that is Soft and hard skills.
Soft skills are termed as those one which shows positive side of person and also
describes how effectively they are working in the company. On the other hand, hard skills of a
person are termed as set of skills which are mandatory required for the specific job role. It
mainly includes expertise of an individual to make its job successful. Hard skills are mainly
gained by an individual through their educational background, training session, online courses
etc.
By evaluating both of these skills it can be said that soft skills are important for
marketing executives position as it helps them in making relations with their colleagues and
other external networkings whereas, hard skills are helpful for the job position of marketing
manager as it supports them in bringing new techniques in their working activities which results
in quick achievement of targeted goals and objectives.
Communication skills
Communication skills are termed as the skills which helps an individual in conveying
their information to one another effectively and in easier manner. Communication can be done in
two types that is verbal and non verbal (Pape, 2016). Verbal communication is seen as the direct
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interaction between two or more person. Whereas, non verbal communication is done in written
format. For instance interaction between employees is seen as the part of non verbal
communication whereas face to face interaction between employees and manager in meeting is
the part of verbal communication. With reference to the job position of marketing executive, it
can be said that applicant is required to own effective communication as well as listening skills
because they have to regular interact with customers as well as other business related person at
market place so if in case marketing executive does not have proficiency in these skills then it
might influence their profession in negative manner.
TASK 2
P3 Describe the main physical and technological resources required in the operation of a
company
Every business organisation requires effective resources which are helpful for them in
executing business activities in efficient manner. In context of Marks and Spencer, it can be said
that the company owns two main types of resources that physical and technological resources
(Popovič and et. al., 2018). Both of these are mandatory required to perform operational
activities of the company in effective manner. Explanation of both of them are stated as below:
Physical resources: Physical resources in the company are seen as the tangible which can
be felt by touching, it includes human resources(employees), buildings and machinery etc. In
context of human resources, it is essential for the Marks and Spencer to provide best working
environment to human resources as without them work of the company cannot be executed.
Positive working environment and better facilities will influence these employees to sustain
longer in the company for longer period of time. On the other hand, while talking about building
and machinery, it has been analysed that Marks and Spencer operating its business at around
1463 locations. It simply means that the company requires huge range of buildings and
Machinery for operating its business at this much level. It buildings are mainly used to develop
outlet and stores. Along with this, it also required by managers and other top management team
to look after buildings in terms of keeping them safe for longer period of time. This can be done
effectively by taking care of maintenance, insurance, security and other things for the purpose of
keeping them safe (Rubin, Aas and Stead, 2015).
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Technological resources: Technological resources also includes computer based
resources that are used in Marks and Spencer for making their work easier. Computer based
systems are helpful at billing counters which reduces the chances of any calculation during
billing of customers. It is also essential for management team of the company to take licenses
and approvals from authorised person before using these software. It can be further said that
usage of these technological resources are also helpful for coming in executing business
activities effectively within the company premises.
TASK 3
P4 Describe sources of internal and external finance for organisation
Financial resources refers to the term which includes all financial funds of business
organisation. Financial sources are mainly of two types that is internal and external. Both of
these types of sources are stated as below along with their merit and demerit (Sekaran and
Bougie, 2016). This can be well understood by taking reference of Hendy's Ltd. It can be said
that the company is requires both the financial sources which help them in collecting funds in
company in effective manner so that the operational activities could be executed without facing
any trouble. Both of these financial sources are stated as below for Hendy's Ltd.
Internal sources
Personal savings: Personal savings are considered as the own savings of owner which
can be used by him in their own business. It is seen as the quick internal source of finance which
could give best support to the owner
Benefit: It takes less time for owner to approach this amount as it is personal amount.
This financial source is best feasible in emergency cases as the owner is not required to wait for
someone else.
Drawback: The main drawback of this source, is that if in any case business goes down
then it automatically creates risk for money owner as they can not get the same amount back.
Sale of assets: Authorised person of Hendy's Ltd can sale then non required assets for
raising financial funds in the company.
Benefit: The company is not required to pay any interest top any one, which can be seen
as the main benefit of this internal financial source.
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Drawback: It simply reduces number of assets of the company which minimises their
values.
Debt collection: Debt is the internal funds of company which are not attained by them
due to certain reasons. In emergency cases the management team of the company should focus
on collecting these funds as it quickly raise their financial records.
Benefit: The main benefit of this internal financial source is that it provides quick funds
to company.
Drawback: This collection might affect brand name of company negatively.
External sources
Bank loan: Bank generally provides financial funds to company in the exchange of
additional interest which is taken by them at regular basis.
Benefit: Interest rate provided by the banks are nominal and its easier for them to repay
the amount in instalments.
Drawback: It is a time consuming process, which makes it difficult for the manage their
instant requirements related to funds (Scholes, 2015).
Overdraft: Overdraft is considered as the facility which is provided by the bank to its
customers. In this customers, can use money more than their account actually holds.
Benefit: It allows customers to manage their instant financial needs as they are having
overdraft account.
Drawback: If in case, customer do not pay interest on time then this accounts takes
compound interest from customers which is expensive for them.
P5 Trading and profit and loss account and balance sheet of company
Financial Statements: Financial statements can be referred to as the report prepared by the
top management of an entity to present an overview of financial performance of entity.
Purpose of Financial Statements: The purpose of creating financial statement is to offer
information about financial position of entity together with the changes taking place in the
position to a number of users with a view to assist them in taking economic decisions.
Income Statement: It is a part of financial statements which illustrates the revenues as well
as expenses incurred by an organisation within a particular time period.
Purpose of Income Statement: The purpose for its creation is to provide knowledge about
the profits or losses generated by an entity during a particular time period.
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Elements of Income Statement:
Sales: This is the quantification of gross activity generated by an organisation.
Cost of Sales: This can be said to be the direct cost attributable to manufacturing of products.
Gross Profit: It is the differences cost of making the goods and sales before reducing any kind of
overheads.
Overheads: These are the ongoing or daily operating expenses of an entity.
Net Profit: This is the profit earned by an organisation after accounting for all taxes and
expenses.
Balance Sheet: This is a part of financial statements which shows the overview of financial
balances of an organisation (Trad, 2015).
Purpose and importance: Its purpose is to reveal the financial status of an organisation at
any point of time.
Elements of Balance Sheet:
Assets: These are the resources owned by the organisation and can be both tangible or intangible.
Current assets: These are those assets whose benefits are enjoyed by the organisation within a
period of 1 year.
Non-current assets: These are the assets whose benefits will be enjoyed by company after a time
span of an annum.
Liabilities: These can be termed as the financial obligations or dues which are pending on the
part of company to be paid.
Current liabilities: These are the liabilities that will be paid within a time period of 1 year.
Long term liabilities: These are the liabilities which will be paid off after a period more than one
year.
Net assets: This can be defined as the excess of total assets over total liabilities.
Owner’s equity: This can be said to the excess of value of assets over value of liabilities.
P6 Illustrate the use of budgets as a means of exercising financial control of a selected company
Break even
Financial planning refers to evaluation of company’s or individuals present pay and
prediction of future income, withdrawal plans and assets value. Financial planning and
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