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Unit 2 Business Operation Level 5 HND Diploma Business

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Introduction

Operations of enterprise is an main activities of an company for meeting objectives and goals in an proper manner in a given span of time. Their are different types of external and internal components which gave a negative as well as positive affect on companies productivity along with its performance. So that administration duties is to manage all factors in an appropriate way (Weiss, 2014). According to various operations of firms activities are accomplished such as inventory, process, output, input and many others. Tesco is an largest company as a British multinational grocery. They provide various goods of supermarkets, hypermarket and superstore. In this assignment, covers divisions of business and its structure. It mainly involve account6ing importance and its activities of HR department.

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TASK 1

1.1 Kinds of enterprise on the basis of public and private

In country, enterprises are classified into two types of sectors are private and public. Private company are owned by themselves as well as its shares are not given or distributed in entire society along with government. Both authorities of country and person who are living are not having any rights on this type of firms. But in the sector of public organisation are offering their market share and investing of some money by government into entire public interest. Therefore, categorised into two types of enterprise in the context of operational scale of international, national and state level. In each phase work operations and profitability is modified because of having a lots of workload. Many of organisation have to enhance their area of working for meeting higher numbers of market share. As they have to follow all rules and regulations of United Kingdom government.

1.2 Various structures of different types of enterprise

It is very main work of administration to enhance the structure of enterprise as per their wants and needs (Reim, Parida and Örtqvist, 2015). Some of main structure of business are given below:

  • Sole proprietorship: Individual person is operating a enterprise at a small level which are consider in this section. As the person is fully responsible for profits and losses itself. They can not get back at a conditions of organisation is in loss.
  • General partnership: In this, Maximum 50 and minimum 2 members are operating a business for meeting companies targets and goals within a given time. As their members share equal losses and profits among all the members of partnership.
  • Limited partnership: In this firms, liabilities are shared as per their portion of investing money within a business. This type of firms are having a partnership deed in which all responsibilities are mentioned within a documentation.
  • Corporations: Mainly, this type of companies are operating enterprise at a large level as that their position of market and profits are higher. In various firms investing of money by government into a organisation.
  • Non profits organisation: They are operating the activities of enterprise for society welfare. Main purpose of this king of firms are for enhancing living standard of companies as well as food availability, house, cloth etc. In United Kingdom, each company have to spent fund or portion of profits to CSR.

1.3 Influence of international, national and local environment of economic on Tesco

It was introduced by Jack Cohen in 1919. As it is a retailing organisation as well as it is a public limited organisation. Tesco is having a 6,553 locations in 2017 along with that they employed approx 476,000 workers within their firms. Impact of local, national and international on Tesco are given below:

  • Local: In this culture of social environment affect companies performance in a positive as well as negative way, they consider certain factors of economical such as individual people capacity, income, growth etc. As already having a companies which affect sales volume (Amit and Zott, 2015).
  • National: Entire nation of economy create a effect either negative and positive within company. As having a higher competition provide a lots of opportunity to firms in UK sector of retail are highly competitive in nature. Negative effects are Low growth of income, less opportunity of employment etc.
  • International: In this level, many of organisation are organising a research for knowing various customers wants and needs. It is having a positive affect in large numbers of consumers are attract within a market place. Negative impact is Organisation get certain advantages from government like as investment, taxation etc.

TASK 2

2.1 Importance of accounting

It is one of main management function. By this, organisation and others peoples such as public, investors, vendors, suppliers, government and stakeholders etc. should know financial position of an firms. Organisation management has made a annual report for giving a important information to a people who are interested to know about their position. Some of accounting important aid in analysing companies performance, control as well as manage outflow or inflow of cash (Bernstein, 2015). It will assist firm in the complaints of statutory, forecasting, budget help in regulating bodies such as stock exchange etc.

2.2 Explain various HR functions

Human resource management involve one of an most important part of organisation for performing various activities like as planning, organising, staffing, recruitment and many others. Tesco managers of HR main purpose over satisfying their firms workers as well as hiring eligible and qualified applicants for job according to its needs of organisation. For completing this, Human resource use as well as coordinate various sources, function of recruiting diverged candidates. Workers are liable to provide induction and training programs for existing as well as new employees for enhancing knowledge. Therefore, these activities and sessions aid in eliminating risk by giving safe and healthy workplace for getting higher efficiency and effectiveness of work.

2.3 Key features of employment legislations

United Kingdom government has enhanced legislation for saving workers right at a working environment. By this, they have to decrease discrimination, maintain equality, give important leaves to women at a time of maturity and many other. Every company have to apply these laws of labour at their workplace for stimulating all employees. Hence, it will aid in increasing performance and productivity within a long period of time. It is an duty of management to implement rules as well as eliminate discrimination on the basis of education, sex, age, gender etc. Tesco give 12 Week of leaves to maturity women within their company (Mackey and Sisodia, 2014).

TASK 3

3.1 Profits and loss account of Tesco

Profit & Loss statement of Tesco are as follow:

Profits and loss account

Year 2017

Total Revenue

55295000

Cost of Revenue

52932000

Gross Profit

2363000

Selling General and Administrative

1190000

Total Operating Expenses

54122000

Operating Income or Loss

1173000

Income from Continuing Operations

 

Total Other Income/Expenses Net

-1028000

Earnings Before Interest and Taxes

1173000

Interest Expense

-513000

Income Before Tax

145000

Income Tax Expense

87000

Minority Interest

-24000

Net Income From Continuing Ops

58000

Non-recurring Events

 

Discontinued Operations

-112000

Net Income

 

Net Income

-40000

Net Income Applicable To Common Shares

-40000

Interpretation: Tesco has earn total gross profit of 2363000 £ with total expenses of – 1028000, it state that company has earn double income as compare to their cost. In the existing month they earn negative amount -40000£.

TASK 4

4.1 Evaluating others and own role within a group

Entire activities of enterprise are categorised into small parts and as per groups. In a team leaders are having lots of workload for managing and control staff properly. Each members of group are having their own responsibilities, roles for meeting common objectives and goals in an effective way (Warner, 2018). As a group leaders my duties towards motivating them for better performance, controlling behaviour of staff, managing, increasing productivity, distrivute responsibilities within employees and many others. Other team members are having certain roles for accomplishing of work in an proper way. They follow managers directions, open interaction with group members for enhancing information linked with project, experience are shared to staff members which aid in achieving goals etc.

4.2 Making a plan of developing a team for future events of training

Tesco managers of human resource is making a developing plan for enhancing workers professional skills and capabilities. They are conducting a events of training for increasing employees performance and its productivity. In this, Managers of Tesco should know their employees needs as well as wants linked to professional learning style as well as knowledge as per their plan of developing a training programme. Their are stages of developing a team improvement plan which are as follows:

  • Forming: It is initial phase of development a group which build as team management according to its capabilities, abilities and skills. Therefore, coordinating and directing them for accomplishing work properly.
  • Storming: HR executive are conducting a brainstorming work for all workers for increasing their knowledge and skills which assist in meeting goals properly (Doppelt, 2017).
  • Norming: In this phase, company management enhance policies or strategies to make a healthy relationship within all the members of team which aid in eliminating disputes.
  • Performing: In this phases, leaders give guidance as well as direction to team members so they are accomplishing activities in an proper manner.

Motivational theory

  • Maslow hierarchy need motivation theory: In this, organisation management have to evaluate employees requirement for improvements. Certain main requirements are self actualisation, self esteem, social cultural and psychological. Mainly peoples are fulfilling their requirements for meeting objectives and goals properly.
  • Herzberg's two factor theory: In this motivational theory, there are two hygiene as well as motivational factors as it gave impact on workers. Hygiene factor men component which is existing within a working environment as well as aid in encouraging members of staff. Motivational factors aid in developing workers satisfaction (Palattella and et. al., 2016).
  • Expectancy theory of Vroom: This theory over content and procedure motivation which integrates reinforcements as well as equality theories. It aid in belief of an individual success, instrumentally beliefs are claimed within practices and its targets.

leadership style

  • Autocratic style: These styles of leadership is only have authority of making a decisions as they do not involve workers, so management make judgements and select best approaches for enhancing skills and knowledge.
  • Democratic style: Organisation management involve employees while making a process of decision making so that workers should feel stimulating towards company (Adjei and et. al., 2014).

TASK 5

5.1 Influence of consumers services at a success of enterprise

Many of companies are enhancing techniques for operating a entire activities of enterprise effectively. It is necessary to take an action plan of consumer services. By this, organisations able to make a positive image of brand within the minds of customers which assist in gaining high level of productivity along with its sustainability for a long period of time within a working environment. Some influence of their customers services on firms can enhance their value of brand at a marketplace, increasing of consumers satisfaction, sustainability, proper financial statements, low risk, higher investment and many others.

5.2 Advantages of consumer services

By providing consumers services organisation are able to meet objectives by providing higher quality of customer's services to their buyers. Some main advantages of customers services are retaining individual potential within organisation, create a word mouth publicity, increasing workers self confidence, higher profits, competitive benefits and many others. Different merits are provided to buyers that can help in organisation success as well as growth. Some of are given below:

  • Management use modified technology and tools like as computers, internet etc. for managing records of customers and stock (Omar, Leach and March, 2014).
  • Managers complete their goals and some customers data and informations.
  • Certain goods of companies can easily identify their preferences along with their interest of consumers (Petro and Gardiner, 2015).

Conclusion

From the above assignment it has been concluded that operations of business activities assist in running a entire company properly within a span period of time. Organisation management enhance techniques for stimulating workers as well as team development. By this, it aid in enhancing productivity as well as performance in an effective way. In this company, every department such as human resource, marketing, finance etc. effect the market position of the firms. Organisation use various theories of leadership styles as well as motivational theories along with that improvement in team development are also discussed within the company.

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.
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