I will be researching and managing a variety of resources. The three main types are human, physical and financial resources. In this section of my coursework I will explain where I will find these resources and how they will be managed to create a profita

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Introduction

Throughout this task I will be researching and managing a variety of resources. The three main types are human, physical and financial resources. In this section of my coursework I will explain where I will find these resources and how they will be managed to create a profitable and successful business. Human resources include my staff and their needs. Physical resources include location, fixtures and fittings, raw materials and equipment. Financial resources include profit, sources of money and liquidity.

Human Resources

Businesses employ people, these are known as human resources. In a small business, the owner may be the only human resource. In larger businesses where many people work, everyone has a specific job relating to their qualifications such as manual workers or administration staff. If a business wants to succeed it is vital for them to have an organised human resource manager.

Human resource is vital in forecasting how many employees they need and what qualifications they should have.  A big business which is growing will need to find out how many new employees they need and how they will recruit them over the following year.

The human resources are a part of the human resources management and is mostly the responsibility for the personnel or human resources department.

Legislation has laid down laws to protect people in the workplace. These include:

  • Health and safety
  • Employment protection for example, dismissal, leave of absence and redundancy.
  • Training
  • Wage Protection
  • Recruitment

These laws that have been put in place are to ensure that a business makes the right decisions and protects its employees correctly. If employees are happy within the workplace they are more likely to achieve goals.

Health and Safety

For 100 years now health and safety laws have been around which are updated every now and then as work conditions change. The Health and Safety Act 1974 is aimed to raise the standard for all the employees and to protect those whose safety could be at risk outside the business.

Businesses need to make sure they have a safe and healthy environment. This can include:

• Providing and maintain safety equipment and clothing.

• Maintaining workplace temperatures.

• Ensuring adequate work space.

• Ensuring adequate washing and toilet facilities.

• Guaranteeing hygienic and safe conditions

• Providing breaks in the work time table.

• Providing protection for the use of hazardous substances.

• Providing protection from violence, threats or bullying.

• Providing a relatively stress free environment.

Employers of a business are required to write a written statement of the policy on health and safety in the workplace. Management is responsible for carrying out the policy. This policy puts a duty on the employees so they take care of their safety and others whilst at work as they are legally obliged to comply with the rules drawn. If the employees of the business do not follow these rules they can be fined or even worst, taken to court. Not only do employees have to follow these rules but they are required to have training to ensure the health and safety of employees at work. At any time The Health and Safety Inspectors (HSE) have the right to carry out investigations in the workplace to make sure the health and safety is correct and up to their standard.

The HSE have power to issue codes and protect people in various situations. For example:

• The control of pollution at the workplace.

• Control of substances that are hazardous to health

• The protection of individuals against radiation.

• Time off for safety representations and training.

For my business I will have to make sure I follow the Health and Safety Act 1974. I will not be employing anyone so I will not have to worry about training them but I will have to make sure that my partner and I have the training required. The premises will have to be kept clean to make sure it meets the requirements also to make sure it is kept at the right temperature.

UK Regulation

When new work situations arose, regulations were introduced to deal with them. The most important regulation is the Working Time Directive 1998. It was introduced as there was concern with long working hours and employee rights. Such as:

• 20 minutes break after 6 hours work.

• 4 weeks annual paid leave a year.

• 11 consecutive hours rest in any 14 hour working period.

• A maximum working week 48 hours a week.

• An average 6 hours work in any 24 hours for nightshift workers.

These regulations were amended in 2003 so that it could exclude people that worked in road, sea or rail transport. Also an employee is allowed to work longer than 48 hours a week if they agree with their employer.

Because I will own the business with my partner I will not need to abide by these regulations as I am not employing anyone else. But in case my business expanded and I did need to recruit I would have to take these regulations into perspective to make sure I do not break the law.  

Training

A new way to settle employees into their new job is to use induction training. They will not only be learning how to do their job but they will learn how the business works. For example:

• Personnel policies.

• Employee benefits and services.

• The organisation and management activity.

• History development.

• Terms of employment.

• General information that has to be done.

• Physical facilities.

• The role of a supervisor.

• Safety measures and department rules.

• Detailed description of the employee's job.

• The values that a business feels are important such as good attendance.

• Follow up after several weeks.

The aims of training

What training tries to achieve is training employees to learn new skills or improve old ones. It has been proven that a well trained workforce has benefits for a business:

• Well trained workers are more than likely to be more protective. This helps a business fulfil its overall objectives like increasing profits.

• It will help create a more flexible workforce.

• It helps the introduction of new technology. This means that new machinery or productions processes could be introduced.

• It could lead to increased job satisfaction. If the workers are well motivated employees will be more productive.

• Accidents should be reduced if employees are trained in health and safety.

• The image of the business may be improved. Customers will trust the employees more if they are confident and have knowledge on products or processes. Good applicants will be attracted to the job if there is a training programme.

• There could be more of a chance of employees being promoted. The business should qualify people in important posts.

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• Training may give the business an advantage over rivals as it is important in competitive markets.

• Training is important if a business wants to be able to operate in international markets.

The need for training

Many businesses say that if it was up to them then they wouldn’t pay for training as it is too expensive and it won’t give them many benefits. If this was the case then there would be a market failure. When this happens the government tries to fix the problem either by:

If this is the case ...

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