• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Business Development Plan

Extracts from this document...

Introduction

Contents Page Contents Page Contents Page 20 Human Resources 21 Quality Control Human Resources Human Resources Management (HRM) includes a variety of activities within the business. This is a matter of deciding what staffing is required for the business to and whether to use independent contractors or hire employees to fill these needs;- * Gathering and training the best employees * Ensuring that these are high performers * Dealing with certain performance issues * Ensuring that your personnel and management practices conform to various regulations and are up to standards. * Making sure that your staff are well-mannered and polite towards the customers/consumers * Organising and building routines for the employees so they now when they need to be present and the hours that they work and when they have their lunch break etc. * Making sure that the staff get their wages/paid on time * Also ensuring that all staff are treated equally and with the same respect The activities include managing the way you approach to your employee benefits, compensation, employee records and personnel policies. This usually occurs within a small business for both for-profit and non-profit businesses and they have to carry out these activities and they have do carry out theses activities themselves as they can not afford to get part or full-time help. ...read more.

Middle

Start-Up Balance Sheet I will now produce and start to create a start-up balance sheet for the first 3 months of my business. Loan to start up the establish the business = �35,000 Personal Investment (Money Inherited) = �10,000 Family Investment = �5,000 'Cheap & Cheerful Foods' as stands at 1st of April, 2009 Assets Capital and liabilities Equipments �5028.32 Capital at start �50,000 Stock(s) � 4,071.00 Debtors �0.00 Loan �35,000 Cash at Bank � 35,000 Cash in Hand �15,000 Cheap & Cheerful Foods Balance Sheet as at 01.04.09 Fixed assets � � Equipment 5028.32 5028.32 Current assets Stock 4,071.00 Cash at Bank 35,000 Cash in Hand 15,000 54,071 Current liabilities Creditors 00.00 Net current assets 54,071 Long term liabilities Bank loan (35,000.00) Property lease 7,200 NET ASSETS - FINANCED BY: Capital Opening Capital Add Net profit A balance sheet enables you to see what the business owes and owns at a certain period in time. It shows the fixed assets of a business such as property or a company car; the current assets such as stock and debtors. This also shows the amount of cash that you currently have at bank as well as in hand. ...read more.

Conclusion

as cash is a liquid asset to the business as it enables you to buy the goods and services for your organisation. However, an organisation must monitor whether it has enough cash to buy and sell goods and that money will come back into the business as the owner will reinvest the money into the business in order to supply more goods and services. A cash flow forecast is incredibly useful to a business as it can be used in many ways; for example it can time expenditures such as overdraft which can be set up to pay for loans and bills. It is also a clear way to show if a business can achieve it targets and if it will be able to pay for all payments due or whether it will have to use and extra source of finance to pay for them, and this will give them a head start to do so. This is also a good document to produce when producing a business plan as it gives a good impression when presenting business plans to the bank and building societies to invest in the business. External Influences USP - The Unique Selling Point of the business is that it provides it target audience with a large range of sweets and crisps to attract the potential customers. ?? ?? ?? ?? Chukie.Boi Unit 8 - Business Development Page: 21 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Accounting & Financial Management section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Accounting & Financial Management essays

  1. Assignment 4: ethical issues. The community. P4 and M3

    advertisements towards child labour and giving false information to consumers just to increase their sales. Primark announced that they do not approve of child labour; however the panorama research has showed that they have many factories in India and that child labour plays a great role at those factories.

  2. Sources Of Finance

    Also an overdraft would allow the partners to obtain the right amount of money they needed with lower interest rates from a bank load because a partnership business would not need an excessive amount of finance as this type of business is similar to a sole trader and dose not need a lot of money to set up or run.

  1. A2 Business CourseWork

    time and they hope that they will complete this objective by sticking by these rules: * To be flexible - They say that "each market is unique and requires a different approach" and because of this they should investigate each market thoroughly beforehand.

  2. Profit and Loss Account

    Moreover, I will spend �3,280 on my bills. This bills for this bills includes every bills such as electricity, gas, water etc. This amount could have been slightly higher but in order to meet my aims of increasing profit, I will be required to decrease some expenses and one on the easiest expense to decrease is bills.

  1. In this assignment I will be explaining in detail the importance of cash flow, ...

    This will show managers and investors what type of costs the business has had to pay and how much gross and net profit left were from the sales turnover. A profit margin expresses the level of profit as a proportion of the original sales turnover.

  2. Finance, cash flow and insolvency

    the share of profits and the procedure to be followed in the event of partnership disputes. Advantages of Partnerships Disadvantages of Partnerships The potential to raise more capital than a sole trader, because there are many more individuals to contribute to the firm.

  1. I am going to produce a report which assesses the working capital management of ...

    Even though M&S is doing quite well in its food department it can look in improving even better by comparing their marketing strategies to their competitors such as Tesco and Sainsbury and incorporate the strategy they find helpful from its competitors into their own business.

  2. Financial forecasting for business, Start up costs, running costs, variable and fixed costs

    Telephone costs Fax costs Travel costs Entertainment costs Resource Materials costs Accounting Fees Legal Fees Other Professional Services Fees General Supplies costs Toll-free Service costs Corporate Credit Card Charges Bad Debt costs Theft Expense Interest on Bank Loan costs Interest from Family Loan costs Interest on Corporate Credit Cards Interest

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work