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Unit 5 How Business Operate Regent College Level 5

1479Downloads1 I Published: 21 Apr ,2020

Introduction

Business organisation involves different sectors and branches which have their own responsibilities and government. In UK, there are various types of business which have different operational functions and activities. Such organisation can be differentiated by determined vision and goals. Along with this, accounting refers to firm which presented in the company success and failure in large number of persons. Owners and company managers are carry out it in the context of an organisation (Adjei and et. al., 2014). The relationship of consumer can be effective and helping with achieving desired goals and objectives. Sainsbury is the second largest supermarket chain in the united kingdom. The roles and responsibility of employer is to contain with appropriate personnel which practices to implemented in correct manner.

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Task 1

1.1 Various types and structure of private and public sector organisation

There are different types of business concerns which operate and regulate that exist in the industry which have different on the grounds of objectives, structures, size and their scope. In public sector organisation, the management of entire venture has been functioning for regulations and term of government authorities. Apart from this, private section includes items and services in trade for generating business income and revenue.

Private segments consist with these companies which are described as under:

  • Sole proprietorship – It will consist with business that are form by person for investing their financial assets and manage raw material in order to practice with the business in more appropriate way. Along with this, business owners is only a person who are liable for organising and conducting their procedures related with decision making and its practices of business as per the opinion and judgements of quality which has been selected (Amit and Zott, 2015). Therefore, advantages and losses both are borne with the entrepreneur.
  • Partnership – A partnership business can define as arrangement where various partners and parties agree to engage with changes with their mutual understanding and interest. The whole members includes equal share and decision making abilities. It provide benefit to organisation which have more resources and funds for executing exercises and supply effective services and items according to the demand or need of people.

Public segment consist with these types of organisation that are as follows:

  • State Ownership – This elements includes organisation which determine management required for making terms and create functional system as per the provision of state in better manner. This will provide benefits to regulatory ventures to emphasise with government and employment opportunities to people. For instance, British Broadcasting Companies (Bernstein, 2015).
  • Local government – It comprise with entities which are developed and formed through individual to conduct practices and using effective resources, thus they will supply efficient services and facilities regarding social welfare.

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

There are different type of business organisation which are followed by various firm that are described as under:

  • Matrix structure – It is that framework that consist with reporting relationship which are determined such as matrix and grid, along with traditional hierarchy.
  • Flat structure – This structure of firm consist with framework along with few level of middle management between staff members and executives.
  • Tall structure – It will follow the hierarchy structure with constrictive span of control and promotional opportunities.

Sainsbury is the largest retailing organisation in united kingdom which can carry out appropriate products and services. An organisation functional operation along with hierarchy structure which can assist in managing whole branches, providing employer control of business functions or operations (Doppelt, 2017).

1.3 How local, national and international economic environment impacts

Sainsbury are holding high amount of share of retailing industry of united kingdom which is second largest supermarket chain in UK that has more than 16.8% share in the whole united kingdom. An organisation was introduced by John Sainsbury which has introduced as largest grocery selling firm in 1922. the company has employed around 181200 employees with more than 1400 stores in the entire united kingdom. There are various national, global and local economical environment impact the business of firm in more appropriate manner. There are various points which directly impact are as under:

  • Local impact – Local economical environment along with their rules or regulations and there are different state practices that can impact on business of Sainsbury affecting their sales and operations (Mackey and Sisodia, 2014).
  • National impact – The nation currency rates, economical and financial condition, GDP of the nation, interest rate, etc. that can affect on their business operations and its functions Sainsbury.
  • International impact – There are various global economical activities and functions, business environment, trends, etc. that directly impact on activities and operations of Sainsbury which operate their business in all over the world.

Task 2

2.1 Significance of accounting for business success

For operating business, this is sentential to document information, evaluate reports and create some data and information regarding assets, debts, liabilities, etc. Accounting information is fundamental for their decision making and administration of Sainsbury. Along with this, management are not determine any type of decision without making reasonable data and figures. There are certain points which consist with benefits of accounting system for success and growth of business are as follows:

  • Help in income and revenue can frame budget and manage activities or functions
  • Finance department can frame appropriate budget and manage activities
  • Accounting can help in acknowledgement loss and profit of business operation with determining certain functions or activities (Omar, Leach and March, 2014).
  • Assist in managing and controlling financial and position of market of an organisation

5.1 Different functions of HR division in business

The duty and responsibility of company manager is to contain accurate personnel and qualified workforce which help in operating and managing whole business functions in effectively. There are various practices which are performed with the personnel that are described are as follows:

  • Recruitment and selection – HR can implement hiring process for occupy vacant places and select new applicants to increasing at workplace. There are different process of selection and hiring approaches that includes internal and external recruitment for major effective implemented of such activities and functions.
  • Training and development – Management conduct appraisal, providing encouragement for analysing skills and abilities of employees with the help of comparing with standard results for performing effective practices (Palattella and et. al., 2016). It will help in providing new alterations, skills and development to workers which face different issues and problems.
  • Employee relation management – Company manager form friendly relations along with staff members to retain with them stimulated and dedicated regarding their work. They have to manage and maintain certain negotiation process, anticipate disputes and conflicts and evaluate proper resolution in more appropriate manner.
  • Staffing – It is the fundamental activity and function which help qualified employees on their appropriate job role and organise more effective exercises to motivate the work.

5.2 Key features of employment legislation

State of nation structure of various rules and regulations for safeguarding staff members rights and their advantages to their employees. There are certain traits which are related to legislation of employees that are described as follows:

  • Authorities has been framed health and safety legislation, so the employees are getting secure in this working environment and positive workplace. Along with this, people are get more authentic duration and working hours which directly affect on their mental ability and health (Petro and Gardiner, 2015).
  • Discrimination laws help in providing more fair treatment for disable employees where employees equality act can lead towards fair treatment and limited biasses on the gender, caste, religion and other grounds.
  • HR present members in more opportunities on the determined results and performance basis, as equality can be supply through treating and providing equal opportunities to both.

Task 3

3.1 Accounting workshop

Sainsbury's profit as well as loss statement of 2017

Revenue

2017

Total Revenue

31907000

Cost of Revenue

29919000

Gross Profit

1988000

Operating Expenses

 

Selling General and Administrative

1207000

Operating Income or Loss

781000

Income from Continuing Operations

 

Total Other Income/Expenses Net

41000

Earnings Before Interest and Taxes

777000

Interest Expense

165000

Income Before Tax

612000

Income Tax Expense

153000

Net Income From Continuing Ops

414000

Net Income

 

Net Income

459000

Preferred Stock And Other Adjustments

-

Net Income Applicable To Common Shares

459000

Interpretation: It can be analysed that the organisation has earned 45900 net profit in the year of 2017 and 781000 loss and benefits in the year.

Task 4

4.1 An analysis to determine own and other roles of team membership

In an organisation, workforce desire for an effective team on the grounds along with their skills and abilities in regarding to perform various tasks in more effective manner and also complete their aim within given time frame. My interpersonal abilities was formulated and developed as health and friendly relation which was form by subordinate. Along with this, my leadership and communication abilities emphasise according to their guidance and instruction which was rendered to employees regarding their duties and tasks for assigned workers (Reim, Parida and Örtqvist, 2015). Colleagues are doing different practices to effectively activities to achieving goals and targets deadlines, if the team are allotting desired targets as per their skills and abilities. Apart from this, I am capable to manage and maintain various talented employees along with effective workers for long time period. Therefore, an organisation deliver more correct activities according to their wants and requirement of customers after that they can achieving desired goals and objectives in better manner.

4.2 Team development

In Sainsbury, management frame groups and teams which develop and deliver productivity of effective services and facilities in the large market place. There are various number of team development which personnel performed that are discussed as follows:

Team Development Stages:

  • Forming – It is the first stage where staff members act as more pleasant and polite for understanding with each other opinions and alterations.
  • Storming – It is next stage where team push itself to edge to form in past steps which can lead towards disputes and conflicts (Weiss, 2014).
  • Norming – In this phase, the team members establish evaluating and understanding their respective opinion and also provide power to their leader.
  • Performing – In this stage, team lead towards hard work without friction and reaching with their desired goals and targets.

Motivation Theories:

There are various methods and techniques, theories of motivation which can be used by business organisation so Sainsbury. There are various mentioned points that are as under:

  • Hierarchy need theory of Maslow – It is one of the most known and earliest determined motivation theory which are given by Abraham Maslow in the year of 1940 – 1950. It is the major that consider five divide such as psychological needs, safety need, love and belonging and self esteem and other is self actualisation (Reim, Parida and Örtqvist, 2015). For lower the unsatisfied requirement which is became more dominant or significant which is more powerful necessitate. According to the need of motivation, priority requirement which are framed in the pyramid from top to bottom.
  • Alderfer – ERG theory has been distinguished that motivation requirement in divided into three parts such as existence, growth and relatedness. Safety and psychological need to combined that can lead towards possible requirement.
  • Expectancy theory of Vroom – This theory emphasise over the content and process of motivation which combine reinforcement and equality theories. Expectancy define as belief of person of individual success, instrumentality can be claimed and valance can be defined as individual rewarding values.

Task 5

6.1 Impact of customer service on business success

Management need to make and create employees to implement task in better manner so the workers supply services according to their needs and demand of people. Sainsbury is one of the largest retailing company which provide better services quality to their customers to make good identified (Warner, 2018). Administration execute more advanced technology in framework such as payment options to render effective and fast services to an individual.

6.2 Benefits of customer profiling to a business

There are various advantages which are deliver to consumer that assist in Sainsbury success and growth. These are some points which are as follows:

  • Company can easily identifying their preferences and interest of customers
  • Manage can get absolute and certain information about customers
  • Management can adopt and use such methods and techniques such as computer and internet to manage their customers and stock records.

Conclusion

From the above mentioned assignment report it can be analysed that Business organisation involves different sectors and branches which have their own responsibilities and government. There are different types of business concerns which operate and regulate that exist in the industry which have different on the grounds of objectives, structures, size and their scope. There are various practices which are performed with the personnel. visit: https://www.instantassignmenthelp.com.au for more.

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References

  • 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.
  • Amit, R. and Zott, C., 2015. Crafting business architecture: The antecedents of business model design. Strategic Entrepreneurship Journal. 9(4). pp.331-350.
  • Bernstein, M. H., 2015. Regulating business by independent commission. Princeton University Press.
  • Doppelt, B., 2017. Leading change toward sustainability: A change-management guide for business, government and civil society. Routledge.
  • Mackey, J. and Sisodia, R., 2014. Conscious capitalism, with a new preface by the authors: Liberating the heroic spirit of business. Harvard Business Review Press.
  • 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.
  • 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.
  • Petro, Y. and Gardiner, P., 2015. An investigation of the influence of organizational design on project portfolio success, effectiveness and business efficiency for project-based organizations. International Journal of Project Management. 33(8). pp.1717-1729.
  • Reim, W., Parida, V. and Örtqvist, D., 2015. Product–Service Systems (PSS) business models and tactics–a systematic literature review. Journal of Cleaner Production. 97. pp.61-75.
  • Warner, K., 2018. Building rules: How local controls shape community environments and economies. Routledge.
  • Weiss, J. W., 2014. Business ethics: A stakeholder and issues management approach. Berrett-Koehler Publishers.
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