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Business Administration 2

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Sample on Business Administration

289 Downloads 15 Pages 3827 Words

Introduction

Business administration refers to process in which management of business and operation are done. It consist of various aspects related to perceiving and directing business operations and functions. It related to various fields that include accounting, financing,corporate governance, economics, research and marketing (Storey, 2016). Organization taken for this assignment is River Island which is dealing in fashion, clothing, textile and retail industry. It is established in year 1948 by Bernard Lewis and brothers. Its headquartered is in London, England, United Kingdom and they are known as street fashion brand. They serve their product in almost all worldwide market such as UK, Ireland, Philippines, Peru, Malta, Chile and many others. This report mainly highlights the process by which a company can manage person and professional development, for increasing performance of business.

TASK 1

1.1 Compare sources of information on professional development trends and their validity

  • Professional development refers to the process by which a person can develop or maintain its professional credibility (Escobar-Rodrigue and Monge-Lozano, 2012). Their are various sources by which an individual obtain professional development, some major of them are explain below-

Sources

Development Trends

Validity

E-learning

It refers to procedure in which learning, training or education is done by source or means of electronic. It concern with use of electronic device or computer.

It is very helpful for those employees who work full time, they can conduct their learning at any time or any place. It is more time efficient.

On the job training

It reflect to procedure of learning or enhancing skills, knowledge and competencies while working within a workplace. In this process a person enhance their ability while working some work in an organisation.

By this source of professional develop a person can learn things very quickly and in effective manner. But in this it is mandatory availability of person at workplace.

Off the job training

It refer to the situation when employees enhance their skills and ability through training which conduct away from their actual work place.

Through this source a person can enhance their skills from outside experts and specialist. But it is expensive method of development.

  • In context of River Ireland which is serving variety of clothing products at worldwide level. They are focus on e-learning for development of professional skills and ability because by it a person can enhance skills at any time and at any where. Their is no boundation of time and it is cost effective.

1.2 Identify trends and developments that influence the need for professional development

Their are various trends and factors which affect the need of professional development (Waldo, 2017). Some major of trends in context of River Ireland which leads to professional development are explain below:-

  • Change in technology- If any change occur in technology an organisation has to change all related factors so that they able to work effectively in respective condition. In respective company when management adopt any changes they provide training and develop to their employees. So that they conduct their work in appropriate manner within time period and reduce wastage.
  • Change in competition- To gain competitive advance from market place, company will focus on enhancing of employees skills and ability. So that they able to make unique products which attract customers at high rate. River Ireland train their employees in effective manner so that they work effectively and enhance productivity. Which help them in attaining competitive advancement in appropriate manner.
  • Chang in legislation- When there is any change occur in legislation of country, company has to update accordingly (Eichfelder and Schorn, 2012). For implementation respective policies in effective manner company organize session related to it so that staff able to know about laws and adopt it appropriately. The employer of River Ireland develop their employees when they adopt changes related to laws so that they know about their rights.

1.3 Evaluate their own current and future personal and professional development needs relating to the role, the team and the organisation

Current personal and professional development need are:-

When I am working individually I realise that I have skills like self motivation skills, good communication skills, strategic thinking skills, creative, innovative, smart work ability and many others. When I was working in a team I realise that I have skills like team working skills, understanding others hard working and work with deadline. Current skills which I have while working in a organisation are confident, understandable, learning skills and many other. These all skills and ability help me and organisation in achieving goal and objective in effective and appropriate manner. This leads to enhance my productivity and increase organisational profitability.

Future personal and professional development need are:-

I conduct evaluation of myself I analysis that there are some skills and ability which I need to develop to attain goal in more appropriate manner. Skills which I required when I am working alone are I need to be patient and focus toward work, I have to enhance my adaptability skills so that I able adapt things easily and effectively. Their are some skills which are I have to enhance for working in a team are like problems solving skills so that I able to solve problems of my teammates. Some skills which I need to enhance for working in an organisation are forecasting future skills so that I able to understand need and requirement in advance.

TASK 2

2.1 Evaluate the benefits of personal and professional development

In an organisation personal and professional development both are essential for achieving goal and objective in effective manner (Rice, 2015). Some main benefits of personal and professional development which River Ireland feel are give below:-

Benefits of personal development:

  • Through personal development employees feel motivated because they know what they want to achieve and they set their plan accordingly. So that they achieve goal in effective and appropriate manner.
  • When a person is self developed then he/ she must have sense of direction through which they can achieve their personal goal and objective.
  • Personal development help an individual in becoming self aware about its values and beliefs. Along with this they effectively know what they want to achieve and how they can achieve it.

Benefits of professional development:

  • Through professional development employers able to develop feeling in employees that they are valuable for organisation and they are interested in keeping them for long term. Which help employer in retaining employees for along term (Hesselbarth and Schaltegger, 2014).
  • Professional develop help employer to recognize staff in appropriate manner according to the work and ability of employees.
  • When an employer focus on professional develop they able to achieve goal and motivate staff in effective manner for this they train and develop employees accordingly.

2.2 Explain the basis on which types of development actions are selected

Their are various sources or factor through which a company can develop action plan for development of professional and personal skills. Which is essential for both employer and employees to conduct and achieve goal in effective and appropriate manner. Some major methods which is adopted by River Ireland are explain below:-

Training and development session- The respective company managers use training and development session for enhancing skills and ability of employees in appropriate manner (Weske, 2012). In this superior provide training session to employees according to requirement. This can be done through various ways such as provide training through expert or specialist, conduct online training course, provide on the job training and many other.

Mentoring- It refers to process in which a experienced individual assist another person in order to enhancing their particular skills and ability. Through this less experienced person able to increase its personal and professional growth in appropriate manner. So respective company also use this method to enhance their employees knowledge and ability in effective manner.

Apprenticeship- River Ireland conduct apprenticeship for their employees in which they sent their staff another location or office for approx 2 to 3 months for learn new things or enhance their skills and ability. This help employees to learn new ways of conducting things in appropriate manner.

2.3 Identify current and future likely skills, knowledge and experience needs using skills gap analysis

I conduct gap analysis which I have to improve for conducting my work in more effectively manner so that I achieve my goal in appropriate manner. Below mentioned table showcase that which skills I have to enhance and in what ratio:-

Skills

Required

Already having

Gap

Adaptability Skills

10

5

5

Problems Solving Skills

10

4

6

Future Forecasting Skills

10

5

5

I need to enhance my adaptability skills so that I can adopt new change or method in appropriate manner and in quickly way. According to data I need to work on my adaptability skills more 5 % so achieve required rate. Second skill which I have to work on is problem solve skills so that I able to understand my teammates problems and solve it properly and effectively. I need to work on it more 6% so that I touch the requirement point. I also need to enhance my future forecasting skills so that I able to forecast need, requirement, problems and issues which a company face in future. By this I able to develop and plan strategies accordingly and I need to work more 5% on it to achieve target.

2.4 Agree a personal and professional development plan that is consistent with business needs and personal objectives

Personal and Professional Development Plan

Serial no.

Learning objective

Current proficiency

Target proficiency

Development opportunities

Time scale

1

Adaptability Skills

5

10

In an organisation employees must have skill of adaptability so that they can adapt changes easily and effectively (Meñez, 2014). It is necessary because changes are occur in a company in regular basis.

45 Days to 50 Days

2

Problems Solving Skills

4

10

In an organisation various situation arise when a person has to solve problems of others. This particular skills is needed in many situation such as when a person working in a team, at higher position and many other.

2 Months

3

Future Forecasting Skills

5

10

It is necessary in an organisation through this manager can forecast future requirements and issues. Then develop solution and strategies accordingly.

40 Days

2.5 Execute the plan within the agreed budget and timescale

For executing above mentioned personal and professional development plan River Ireland required to develop budget according to timescale. Description of budget is mentioned below:-

Adaptability Skills- For developing this particular skills a person required approx 45 days to 50 days. Adaptation skills is necessary because in an respective organisation changes will occur according to change in technology, market demand and many other (Scheer, 2013). So it is necessary for them to adapt changes in effective manner. This can be develop by start facing and adapting small changes and then move to adaptation of major changes. For implementing this respective company need to conduct changes on small scale which required budget of approx 30 K.

Problems Solving Skills- For adapting problem solving skills in appropriate manner an individual required approx two months. It is necessary for a person to develop this skills so that they can understand and able to solve issues of their teammates and staff. For developing this skills in their employees respective company organize sessions and activities. Which required approx 40 K as a budget.

Future Forecasting Skills- For adopting this skills in appropriate manner a person required approx 40 days. For developing this skills in all staff River Ireland plan to conduct session in which experienced person describe how to forecast situations of company. This required budget of approx 30 K.

2.6 Take advantage of development opportunities made available by professional networks or professional bodies

Professional network refers to the services which focus on interaction and developing relationship with others in order to develop business. It is mainly used by a person to develop and maintain contact for professional use (Cooke and Alcadipani, 2015). Professional network services can be conduct online or offline that support in promoting business and resolving issues. Professional network or professional bodies help River Ireland in various ways such as by consulting them respective company able to identify about their careers. Along with this, they help in recruiting employees, respective company take advice from professional bodies before beginning any project and so on. Their are various professional networking site or application which respective company use such as MeetMe, GroupMe, Shapr, Namerick and many others. It is beneficial for River Ireland in many ways like it help in leading business, help in developing career or future opportunities. Along with this it help in creating personal opportunities, help in identifying and adopt best practice or ideas, help in designing strategies for adopting new business trends.

TASK 3

3.1 Explain how to set specific, measurable, achievable, realistic and time-bound (SMART) objectives

SMART objective refers to procedure through which a company can set appropriate and effective objective for their business operations which leads to increase in profitability and market shares (Bell,Bryman and Harley, 2018). SMART refers to different features of objective such as S means objective must be specific and clear, so that it can be easily understand by everyone. M refers to measurable which means objectives must be measurable that a person can know to measure success. A refers to place or plan which make objective attainable and R refers to relevancy of objective that it must be worth full. Moreover meaning of T is time bound for achieving the objective.

Objective of River Ireland is to expand business and adopt multi culture in an organisation. For this they plan to enhance certain skills of their employers and employees that are adaptability skills, problems solving skills and future forecasting skills. So that their employees adopt change which may occur during expatiation of business and able to forecast need of resources and problems which they may face in future. For this they develop strategies which is specific, measurable, attainable, relevant and achieve within planned time.

3.2 Obtain feedback on performance from a range of valid sources

When a person enhance or improve their skills and ability they conduct feedback session through which they able to know how effective they enhance their ability (Sujitparapitaya, Shirani and Roldan, 2012). So when an individual of River Ireland enhance their skills and ability by attaining sessions and personal practices. They plan to conduct feedback analysis from other staffs of respective organisation by this they able to know how effectively they enhance their skills which help company in attaining their goal and objective. For conducting they can adopt various methods like conduct survey through questionnaire, place feedback boxes in company, ask for suggestion through email and messaging. Along with this a can conduct self assessment test to analysis level of skills which they develop.

3.3 Review progress toward personal and professional objectives

For reviewing my personal and professional development I conduct evaluation through questionnaire which help me in identifying whether I am lacking now and I need to work on. Below questionnaire is given which I circulates in my team of 10 members for evaluation:-

Statements

Agree

Disagree

Neutral

Total

Do you think I am able to handle business problems more appropriately?

6

3

1

10

Am I able to take quick actions for business development?

4

5

1

10

Am I good in forecasting the future issues which might affect business adversely?

6

2

2

10

Do you think I need to develop my skills for performing better in future?

4

4

2

10

From above evaluation I able to know that I had develop my problem solving skills and future forecasting in effective manner and I need to work more on my adaptability and decision making skills. My team members tell me that I am not able to take quick decision and there are some other skills which I required to enhance. Such need are management skills and so on.

As I conduct feedback evaluation analysis in River Ireland, by getting suggestion from other employees I able to know that I get succeed in enhancing my skills and ability related to problem solving, future forecasting and adaptability of changes. Which help me in adopting changes in effective manner, now I am able to solve problems of others and know I can forecast resources which may required for any projects. Which help me in performing in appropriate manner which leads to increase my quality of work and profitability of respective organisation. By developing these skills now I am able to develop professional relation in more appropriate manner that help me in attaining my goal as well as organizational goal.

3.4 Amend the personal and professional development plan in the light of feedback received from others

New Personal and Professional Development Plan

Serial no.

Learning objective

Current proficiency

Target proficiency

Development opportunities

Time scale

1

Adaptability Skills

8

10

I need to enhance more of my adaptability skills so that I can take decision quickly when any change or new thing adopt by an organisation.

30 Days

2

Management Skills

5

10

I need so enhance my management skills so that I am able to manage resources, peoples or team members in appropriate manner.

2 Months

I develop new personal and professional development plan according to the feedback of my team members. Through it I able to know that know I am able to adapt changes but I didn't able to take decision quickly in new situations, so now I have to focus on this issues of mine. I also need to enhance my management skills so that I can handle my team in effective manner.

Conclusion

From above mentioned point and its evaluation it can be conclude that an organisation conduct various method to develop personal and professional skills. Their are various sources and method by which a company can develop professional skills in their employees in appropriate manner. There are also different factors whose changes leads to enhancement in professional skills. Every staff of an organisation should conduct evaluation of their current skills ans required so that they work accordingly. For this employees can also develop a personal development plan through which they able to analysis themselves in appropriate manner. For personal and professional development a person can design SMART objective which means specific, measurable, achievable, realistic and time-bound objective.

References

  • Bell, E., Bryman, A. and Harley, B., 2018.Business research methods. Oxford university press.
  • Cooke, B. and Alcadipani, R., 2015. Toward a global history of management education: The case of the Ford Foundation and the São Paulo School of Business Administration, Brazil.Academy of Management Learning & Education.14(4). pp.482-499.
  • Dilger, A. and Müller, H., 2013. A citation-based ranking of German-speaking researchers in business administration with data of Google Scholar.European Journal of Higher Education,3(2). pp.140-150.
  • Eichfelder, S. and Schorn, M., 2012. Tax compliance costs: A business-administration perspective.FinanzArchiv: Public Finance Analysis.68(2). pp.191-230.
  • Escobar-Rodriguez, T. and Monge-Lozano, P., 2012. The acceptance of Moodle technology by business administration students.Computers & Education.58(4). pp.1085-1093.
  • Hesselbarth, C. and Schaltegger, S., 2014. Educating change agents for sustainability–learnings from the first sustainability management master of business administration.Journal of cleaner production. 62. pp.24-36.
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