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Unit 3.23 Level 3 How Businesses Operate 15 Credits

1666Downloads1 I Published: 18 Apr ,2020

Introduction

To operate a business in an effective manner, it is important that internal and external factors are considered which have an impact on business activities whether internally or externally. Therefore, some of the elements that company must consider are Government, technology, suppliers, customers, economic condition all these factors will help them in designing the system in an effective manner (Charter, 2017). Company that is taken in this report is Sainsbury that is one of the leading organisation in United Kingdom and other countries as well. The assignment will throw light on various kinds of organisation whether public or private according to the sizes, objectives and structure.

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Task 1

1.1 Different types of public and private sector organisations

In the current market situation, there are different kinds of companies that are run by public or private organisation. This can be classified according to their sizes, structure and style of operating their business. Although both the sectors work differently but their main motive is to provide better services and facilities to its clients. This will assist them in pulling the attention of maximum number of people and as a result it is providing them better results in terms of sales and profitability.

Non-profit organisation: These are the firm that are set up by regulatory bodies so that adequate facilities and services can be provided to people. They basically work according to the needs and wants of customers. The main focus of establishing this kind of organisation is to promote various innovative ideas in the market area.

Non-government organisation: They operate their business so as to work for the welfare of the society. This assist them in enhancing the standards of people living in the society, so that everybody is treated equally. For this, there are various schemes that are formulated by the regulatory bodies in order to provide maximum benefits to an individuals.

Profit-based organisation: They generally work for gaining maximum profits and for this companies try to implement various strategies and plan so as to attract more and more customers (Sekaran and Bougie, 2016). They try to deliver best suitable products right on time. Sainsbury comes under this and they are selling their commodities just to earn more and more revenues.

Voluntary organisation: This is considered as an organisation that are formulated by a bunch or group of people by their own will. It assist them in attaining their goals and objectives in specific period of time.

1.2 Different structure of public and private sector organisations

Private sector companies that comes under this:

Sole proprietorship: This kind of businesses are operated by a single person alone. Whatever profit or losses happens; the person is solely responsible for that. All the activities are conducted by the person himself like decision making (Shenkar, Luo and Chi, 2014).

Partnerships: Under this, two or more people collaborately merge as per their interest so that they can gaining maximum profits. Thus, they sign the documents according to their norms and rules.

Public Sector includes such king of organisation:

State ownership: Companies that comes under this not only provides services and facilities but give employment opportunities to maximum number of people so as to improve the economy of the state.

Local government: In this, organisation run their business at local level along with this they try to provide better services and facilities to its consumers so that they can avail them according to the needs and wants.

1.3 Impact of local, national and global economic environment on Sainsbury

Business environment is very dynamic in nature and very difficult to understand. They have lots of complicated activities which are required to be done properly so that maximum benefits can be gained. Therefore,organisation is working in local, national and at global level and through this they are enhancing their customer base and this is gradually helping the company in sustaining the loyalty of customers once again (Bernstein, 2015). Apart from this, it is increasing their sales and profitability due to which till now they have maintained their superior position in the market area. Sainsbury's is a supermarket and they have around 1,415 shops in number of locations. According to the survey conducted in 2017, revenue they have generated was £ 26.224 billion. Apart from this, managers are making appropriate policies and plans which they can implement in order to get effective results. Therefore, it is increasing brand image of the company in front of their customers.

Task 2

2.1 Importance of accounting for business success

Finance department is an important part of an organisation as they are the one who develop budgets and maintain a record of accounting so that they can analyse expenditures happened during the past. Therefore, accounting is conducted by set of people who are skilled and acquire good knowledge about this field (Storey, 2016). Finance department helps the organisation in communicating the information to its stakeholders in an effective manner so that they can tell them about their estimated budget which will be required for accomplishing the project. Some of the advantages of accounting is stated below so that it can be understood in a better manner.

Systematic record: Department of finance assist company in maintaining the account in a proper manner. For this, Sainbury's is using latest tools and technologies for operating their business in an effective manner and it is helping them for the same.

Assess business performance: By monitoring the whole process company can identify the losses and profit they have gained by Sainsbury's. This will assist them in identifying the market share and position at market area.

Protect investors and promote transparency: Financial statement are developed by the unit of financial so that they can convey the message in an effective manner to the stakeholders. It will help them in generating more and more revenues.

Through all the process that are mentioned above business will be able to access the file any time in just one click without any paper work.

5.1 Different functions of HR department in business

Human resource department is an integral part of an organisation and plays crucial role as they help a company in selecting eligible candidates who can give their best in order to accomplish the task of the firm. Sainsbury's is a renowned enterprise and have ample amount of suitable employees who fit best for this particular post in the organisation. Recruitment and selection is the prime role of HR department for this, first they go through the vacant post that are to be fulfilled and then accordingly they conduct the whole recruitment and selection process (Ward, 2016). Apart from this, Human resource department focuses on providing better training programmes so that existing employees and fresh candidates. Maintaining a proper relation is very important and HR department help the organisation in doing so. They clear all the conflicts and issues that can hamper the business operations.

5.2 Key features of employment legislation

Laws and legislations are formulated by any Government so that a peaceful environment is maintained in the environment. Therefore, it is necessary that company incorporates all these norms so as to conduct their business in an effective manner. Some of the rules and regulations are given so as to understood in a better way:

  • These legislative norms provide a secure environment to employees so that they can feel free to work with their peaceful mind (Dunning, 2014).
  • It provides healthy and safe environment and all the individuals are treated equally as per the qualities and skills they acquire. Therefore, Sainsbury's has optimised all the rules and regulations for that are formulated by regulatory bodies.
  • Company has incorporated anti discrimination act and equality act so as to give equal opportunities to all the members present in the market.

Task 3

3.1 Accounting workshop 

Profit and loss Account of Sainsbury's (2017)

Revenue

2017

Total Revenue

31907000

Cost of Revenue

29919000

Gross Profit

1207000

Operating Expenses

 

Selling General and Administrative

1988000

Operating Income or Loss

781000

Income from Continuing Operations

 

Total Other Income/Expenses Net

41000

Earnings Before Interest and Taxes

777000

Interest Expense

153000

Income Before Tax

612000

Income Tax Expense

165000

Net Income From Continuing Ops

414000

Net Income

 

Net Income

459000

Net Income Applicable To Common Shares

459000

Interpretation: form the above table it can be evaluated that company's total revenues was 31907000 which is higher as compared to previous year.

Task 4

4.1 An analysis to determine own and other's roles of team members

To achieve all the targets and objectives it is important that company makes a perfect team. This will aid them in working for a common goal in specific time frame. As I am the legal adviser in this company, so my prime duty is to to resolve all the problems that are related to laws and legislations. If company wants to expand their business than my role is to give them advice about the rules and regulations that are being regulated by the regulatory bodies. For this, I am using my effective communication skills and influencing stakeholders who can invest there money business operation so as to gain maximum benefits (Doppelt, 2017).

4.2 Team Development

According to the current market situation there are many step that are present in market area in order to develop a perfect team and these are as follows:

Forming: For getting appropriate results it is important that a team is formed and this is the step under which it takes place. Superiors allocate the roles and responsibilities as per the skills and abilities they acquire so that targets are achieved (Palattella and et. al., 2016).

Storming: This is considered as the most inappropriate step as chances of conflicts and issues is high in number. As employees are experienced now and they might not agree with the roles they are given by the managers or leaders.

Norming: In this step all the plan and policies are framed so that they can work in order to set a benchmark for others. It will help the organisation in having an overview through which they can set the targets and objectives they want to achieve.

Performing: It is the last step under which all the task are performed so as to given them a final touch. This will assist them in delivering the products to its end customers.

4.3 Motivational theories used by management of Sainsbury

Encouragement working as a motivational tool as it keep the morale of employees boosted. There are different kind of motivational theory that are adopted by Sainsbury's some of them are mentioned below:

Alderfer's ERG theory: This theory consist of three forms of need that help the organization in growing in an effective manner. It helps the company in achieving their goals and set targets in limited period of time. Basically, this theory is adopted by managers so as to assign the task according to the capabilities and skills which an individual have. It assist them in having a suitable environment for workplace. Sainsbury's is optimising this in order to encourage their workers for effective working.

McClelland's need for achievement: Under this, it has been explained that an individual work so as get appraisal and recognition on timely basis. Through this step taken by the organisation, employees will fell connected and doesn't feel alienated. Therefore, a mutual understanding is maintained at workplace.

Theory X and Theory Y: In an organsiaiton there are many people who are form various culture with a different mind set. Thus, it is essential that company have a adequate information about the worker who is working there (Omar, Leach and March, 2014). Theory X states that the person who shows disrespect towards the work doesn't get any authority and duties. Whereas individuals who come under the category of X are self motivated, accomplish their task with distinction.

4.4 Different leadership style that are used by superiors of Sainsbury

Various kinds of leadership styles are mentioned below:

Autocratic style: It is considered as the powerful style of leadership and most of the organisation incorporate this when they want to get effective results.

Democratic style: This is the most appropriate form of leadership style and Sainsbury has adopted democratic style in their business operations. It is giving equal chance to every individual so that they can present their views so as to make policies and plan of action.

Laissez- faire style: Under this, the task are assigned by superiors and seniors according to the capacity it will assist them in accomplishing the work properly.

TASK 5

6.1 Impact of customer service on business success

HR department plays an important role in hiring suitable candidates for the organisation so that they can perform the task properly and help the organisation in gaining maximum profits. Other than this, they provide appropriate training problems through which new and old workers can improve their knowledge. This will assist them in providing better services to its customers and as a result an increase in sales and profitability.

6.2 Benefits of customer profiling to a business

There are number of advantages that are present in the market area and it is required that company perform according to them some of the pros like Sainsbury are doing surveys so as to know the taste and preferences of customers in order to manufacture goods accordingly (Adjei and et. al., 2014). They are giving discount coupons along with offers so as to attract maximum number of consumers towards their organisation and they are performing this by advertising their products in television, newspapers, online etc.

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Conclusion

From the above report it has been concluded that business environment is an integral part of any business as it given information about the internal and external factors that are very important and must be considered before, introducing there commodity in the market area. Other than this importance of human resource department is also mentioned in this assignment so that its necessary can be discussed. Visit our website to get do my assignment help

References

  • Charter, M. ed., 2017. Greener marketing: A responsible approach to business. Routledge.
  • Sekaran, U. and Bougie, R., 2016. Research methods for business: A skill building approach. John Wiley & Sons.
  • Shenkar, O., Luo, Y. and Chi, T., 2014. International business. Routledge.
  • Storey, D. J., 2016. Understanding the small business sector. Routledge.
  • Ward, J., 2016. Keeping the family business healthy: How to plan for continuing growth, profitability, and family leadership. Springer.
  • Dunning, J. H., 2014. The Globalization of Business (Routledge Revivals): The Challenge of the 1990s. Routledge.
  • Doppelt, B., 2017. Leading change toward sustainability: A change-management guide for business, government and civil society. Routledge.
  • Palattella, M. R. and et. al., 2016. Internet of things in the 5G era: Enablers, architecture, and business models. IEEE Journal on Selected Areas in Communications. 34(3). pp.510-527.
  • Adjei, H and et. al., 2014. Assessing the Corporate Social Responsibility Activities of Atwima Kwawoman Rural Bank Limited and its Impact on the Communities it Operates. European Journal of Business and Innovation Research. 2(4). pp.36-47.
  • Omar, A. T., Leach, D. and March, J., 2014. Collaboration between nonprofit and business sectors: A framework to guide strategy development for nonprofit organizations. VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations. 25(3). pp.657-678.
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