• 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. Sources Of Finance

    This would be a bit risky for a sole trader to use a overdraft as a source of finance as they may not be able to pay it back in the future as there is only one person taking all the risks where as within a partnership there is two individuals taking all the risks.

  2. A2 Business CourseWork

    Below is an example of one of Tesco's aims with regards to growth. Aim - To be a successful international retailer: Tesco are looking to expand in the international market by introducing new outlets in new countries. They say that they expect growth outside the UK will take a long

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

    Environment: Primark should consider helping the environment by providing recycling bags and activities to save and protect the environment because stakeholders expect the business to have a safe working environment. 8. Corruption: This means the abuse of a public office for personal gain or other illegal or immoral benefit.

  2. Edexcel Applied Business A2 unit 11 finance task A

    sheet we can see that they gain most of there finance from short term sources. The total amount of short term sources of finance for Thomas Cook in 2009 was: �3190.5 million whereas the long term finance for Thomas Cook in 2009: �866.8 million.

  1. DIvidend Policies and Financing

    2.1.1 Dividend Relevance Theories According to Gallagher & Andrew (2007) dividend relevance theories are as follows: The Clientele Dividend Theory The clientele dividend theory is based on the view tat investors are attracted to a particular company in part because of its dividend policy.

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

    Some fixed costs are also running costs. Rent and equipment is fixed costs, which will not change from volume of production. Fixed costs: 80% of these costs are labour costs and are generally invoiced each month. Typically, these costs do not evolve directly and in a linear way with the

  1. In this report I will be speaking about how managing the resources of an ...

    The importance of costs and budgets is extremely high within any organisation that wants to do well. The advantages of managing your costs and budgets are that it is easier to have a constant cash flow, cash flow is vitally important within all businesses as it helps pay the bills whilst you await debtors to pay for your services.

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

    However, if the credit payment period between M&S and their supplier is 30 days then the business will have to ensure that their debt are repaid more quickly to build up trust between them and the suppliers. In order to maintain the capital structure, the M&S has decided to adjust

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