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

Evaluate how managing resources and controlling budget costs can improve the performance of a business.

Extracts from this document...

Introduction

D1: Evaluate how managing resources and controlling budget costs can improve the performance of a business. In this assignment I have to evaluate how the management of resources can and controlling budget costs can improve the performance of a business. Tesco can have less information problems. Ratios are not definitive measures for a large organization like Tesco. If Ratios are interpreted carefully problems can be solved. They can provide clues to the company?s performance or financial situation. But on their own, they cannot show whether performance is good or bad. If ratios have some quantitative information an informed analysis can be made which will help a lot. This can improve the performance of Tesco. It can motivate Tesco to move on and make success as they would know the exact state of Tesco as if they are making profit with their sales or they are facing loss. The information should be updated in financial statement. The figures in a set of accounts should be up to date, they should tell exactly how a company is doing and so this would give a proper indication of the company?s current financial position. ...read more.

Middle

Tesco should only have the stock which is required to them at that time. For example if Tesco has ordered too much breads, they cannot keep them for long as it will rote and their date will expire which would put Tesco into loss. If Tesco manages this properly their business can make profit and do very well. The resources being managed properly can help business to overcome an unforeseen circumstance for example circumstances like flooding and earthquake. If the business has to go through some sort of unforeseen circumstance the business can come over it. This shows that the business is very successful and knows very well, how to manage its resources and the costs according to the budget. Tesco needs to control it stock properly like when they get a new stock they should put that to the back and move the old ones to the front so they can be sold first. They need to get rid of the things when their date is over and they cannot be used no more. ...read more.

Conclusion

The physical resources help improve the performance of Tesco. This shows how well established the business is. If Tesco has good building and large building that will show how big the business is along with that if it has good emergency provision that means the business has concern with the health and safety features this brings more customers along that means that more customers will visit Tesco. Security and it equipment show that Tesco is well brought up that is why they got these facilities. These facilities are only along with the high business as this shows Tesco is high class businesses which help Tesco even do better. Technological resources can improve the performance of Tesco. Technological resources such as computer software's and privacy of this software and the privacy of data can improve the work in Tesco. This can prevent from the loss of data and can keep the data of Tesco private which means Tesco can produce better if there data is prevented. All these human, technological and physical resources of Tesco can help Tesco do better and can help Tesco improve in their business activity which can lead to the business making profit. ...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 People & Operations 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 People & Operations Management essays

  1. Evaluate how managing resources and controlling budgets can improve the performance of a business

    By using breakeven analysis it shows the business how many units are still needed to be sold before the business reach their investments. Breakeven then can summarize what the businesses profit is going to be with the remaining units. Some small businesses don't think of using breakeven analysis because the

  2. In this assignment I am going to describe how selected business manage its existing ...

    > Protection via patents and copyright: Patents grant monopoly right for a limited period of time, it can always be renewed (by the state/national government). Copyrights protect original expressions, it protects original work against been copied without permission from the owner.

  1. Presenting Business Information

    Organising/Sorting: In Tesco data retrieved and collected by Tesco department is organised and sorted into alphabetical order, numerical order, ascending order. The reason Tesco is doing that because in Tesco too much information flows from one department to the other, this is the reason in department of Tesco documentation is

  2. The main aim of this research is to evaluate the information on the human ...

    Storey (1995: 5) stated "Human Resource Management is individual approach for the management of employees, which needs structural, cultural and skilful measures to take advantage of well capable and dedicated employee resources". 2.6 Human resource management in the organization The department of Human Resource is treated by most of the

  1. In this assignment, I am going to show and explain how managing human, physical ...

    It is also important that a manager Is always there so that they can supervise his staff and also if there is a problem that they might not be able to handle the manager will defiantly be trained to deal with the situation.

  2. Teamwork. There are several reasons why a business may organise their staff into teams. ...

    Benevolent Authoritarian managers have some trust in employees but are seen as condescending. Participative managers trust employees completely and teamwork is used to help make decisions. Consultative managers show more confidence in employees and teamwork is used to help make decisions, but overall decisions are mad by managers.

  1. M1 - Assessment of how managing the human, physical and technological resources can improve ...

    Marks & Spencer needs to make sure that they get the person to work for them that is intelligent, respectful and diligent. Candidates that apply for a job in marks & Spencer need to complete the application form on the Marks & Spencer?s website (www.marksandspencer.com)

  2. I will be producing a report detailing the factors the factors that Mobile Communication ...

    To be fairly awarded, an evaluation system is indispensable. Not only will managers be able to justify the awards to senior management, but staff will know that there is an equitable method of compensation within the organization. More arbitrary methods can lead to low staff morale or the feeling of

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