To ensure that the employees know how the business works, and what there job role entitles, they should know about the background of their organisation. There will have to be good communication and respect shown when the people of the company are talking to each other. People will talk to others in a different way depending on there role, or what they have achieved. With there superiors there will be more respect shown then others like people below them in the organisation. In some businesses managers will refer to each other using there titles but many others, they will be referred to on first name bases. It is also important to communicate with the employees, make sure that they know the terms of there contract with the job that they have with you, whether they are allowed to have a second job or not, these little things. If they choose to have a second job, they should tell their role manager about it, and also the job should be in a non-related company. Managers can use incentives to keep the workforce encouraged to work harder and harder. There are many ways in which employees can use these incentives to keep them working, they can be rewards, little things that will make the workforce feel that that are being appreciated. These incentives also have to be worth of value to the employee that is earning them, or they will not want to earn them. It is always good to offer a variety of choices for the employees to choose from. This way they can have different things every time that they work hard.
Businesses usually encourage there employees to be creative, and use their initiative. This is to adapt with any change in the market, so that the company is easily adaptable, and these companies are more likely to succeed. Because companies can compete all over the world using the internet, these companies’ encourage their employees to think creatively and use their imagination. Many small businesses become successful by being creative and using their initiative. Organisations can get their work done in two different ways, one in-house, where the employees that they employee do the work for them, or the organisation can outsource their work, where they pay some other company to do the work for them.
Evaluation of Technological Resources:
When looking at resources which are technological, there are many improvements that can be made in a business. Technological resources would not be hardware; they would fall under the category of software. They are managed in similar ways to other resources to ensure that they are not damaged, and if there is a newer version an update can be made. Intellectual property is the right in which people can own idea’s and decide what happens to them. This is similar to having a patent to an idea or an item, where the person will decide what will happen to the item or ideas.
The longer that people work in a job, or different jobs they will start to gain accumulated experience, they will start to learn how to deal with certain issues that may come up in their job. This is a major benefit to the company, as more and more people stay at the company, gradually gaining more experience. The people with experience will be placed as mangers so that they can have an influence on their own sector or department. It is very important for the organisation to build up the skills of peoples so that they can deal with certain issues that arise in the business. It would be wise to train more then a few people at certain things, for instance in their absence, there should be somebody to handle that specific area. If an experienced person was to leave the organisation it would be hard to find another person that would be able to fulfil that job role with the same amount of skill as the previous person. Cascading training is the process in which training is passed on throughout the workforce, so that a backup is available when another individual is needed.
Software is used in businesses a lot, and the businesses spend a lot of money on software for its business. Specially made software is sometimes very important to businesses; the reason for this is because it is a piece of software that is specifically designed for a business. Software that isn’t specially made, but owned by people is also used, and to use these businesses must pay a fee for the software license so that they can distribute it to all of their stores. When companies buy these licenses, they usually get a discount due to the amount of computers that they wish to install the software onto. Some companies run the software on more computers they claim to be, and in these cases they are breaking the law, although this can work both ways, as the companies can charge too much. Software reviews can save a vast amount of money for the company, to see which computers need new software and which don’t.
Using legislation to protect the technological resources of the company is very important although it is always hard to tell whether people have taken your idea, it is always hard to find the perpetrators. Patents and Copyrights are different area’s which fall under intellectual property law. Patents are protection for inventions, new or improved.
Evaluation of Physical Resources:
When looking at the physical resources of business, businesses should look at the procedures that it undertakes to carry out its activities. Improvements can be made to make sure that these resources are maintained, refurbished and secured. All businesses need premises where they can operate from. These buildings can have a strong affect on the people that either work there, or the customers of the company. Having buildings located in strong economic areas is also very important for the business, so that many people will be attracted to it, as well as see it as an important building in the area. Importance of how businesses layout their stores all over the country, no doubts show in its success. Businesses have to find ways into attracting the attention of the customers. In businesses that deal with clothing, shoes or accessories, they would need to be aesthetically pleasing to the customers, being attracted to the building will naturally result in them proceeding into the building.
Improvements should be made in the materials and waste in businesses. Undoubtedly this would both save the economy as well as money for the business. Different types of buildings within each business will all need to cope with different activities that will need to be completed. The plant will be the place where the machinery for these places will be placed. Although some companies take there machinery on lease, some businesses see it as best to buy the machinery as they can be used in the long run.
The correct equipment is essential for a business to operate smoothly. If the necessary equipment is not given then this can result in the incompletion of the task which was required, this can have more impact on the company then some may think. IT is one of the most important, many businesses fail without it. Businesses must consist of both hardware and software, which carry out their main jobs of looking after the amount of stock in the stores, the day’s cash intake, and many other important functions that the company needs. Hardware is the physical items, computers, monitors, things that are visible to people. Software would be the systems that the computer runs on, Microsoft and other applications.
All of the factories will always have their premises checked. If the correct maintenance does not take place then the machinery or the buildings can break down, leading to much more large cost with replacing them. Cleaning of the buildings is important in keeping it safe to work in and healthy for the people who work there. Refurbishment of the company consists when the company seems to want to change the appearance of their stores whether it is to the customers in the stores, or for the workers in the other associated buildings. Keeping the buildings fresh will encourage people to enjoy their workplace and result in people working harder. Refurbishment can also have an impact on the environment as well as people, as old resources can be replaced with eco-friendly or energy saving ones.
To ensure that the workers and the customers are safe at all times Emergency Provisions will be there in case of an emergency. Evacuation training must be given to all of the employees, so that they know exactly what to do in case of a fire or any other incidence. Other equipment to prevent harm will be placed in the store, such as, fire alarms, smoke detectors, fire escapes and fire extinguishers. To ensure that these are working at all times, regular checks will need to be made.
Insurance is a must with all building, whether there leased or owned by the company. This is to cover any damages. Protecting the assets of the company is very important because if any of these were vandalised, they can claim the damage costs back. The building must be made secured at all times, when the employees finish their shift at night; they must lock the premises up so that no intruder can enter. Although this is not always the case, people still somehow find a way in, this is why security guards are hired. The company can also get advice from big security companies about how they can keep their business locked and secure.
Evaluation of Financial Resources:
Financial resources are needed in the businesses because they have to monitor their finance because; they need to insure that they have enough money in order to buy products and to pay their employees. They then also have to make sure that they have enough money so that they can pay off their bills as well. Financial resources are the cash or loans that a business has, or has access to. A business's non-financial resources are their employees, technology, equipment, buildings, warehouses and information systems. Within the financial and non-financial category come two more types of resources: internal and external. Internal resources are financial or non-financial resources that a company owns, or has in-house. External resources are financial or non-financial resources that a company does not own, but may be able to use externally.
When businesses evaluate their internal environment, they are analysing the areas of their work that they have control over. Internal environments may include, but are not limited to, the organisational structure, purchasing behaviours, research and development and manufacturing processes. Within the internal environment are internal resources, such as finances, staff, equipment, and machinery and information technology. Businesses should perform environmental scans of their internal environments and resources, they should document their findings, examine the trends in their environment, review and analyse the inventory and use the information for decision-making techniques.
External business environments are the areas that a business does not have control over, but can still be impacted by. Common external environments can be categorised as environmental, political, economical, technological, legal and social. Within these external environments businesses can identify external resources. Technological advances, for instance, are operated external resources. By knowing what is available to businesses in the external environment, decision makers can analyse risk potential and understand how their business can be progressed or slowed down by external resources.
Monitoring Budget Costs:
At the beginning of a businesses year, the business will start to start formulate a budget which is their objective to forecast what their profit will be at the end of the year in the assumption that the budget will remain the same through out. The budget will be monitored quarterly or monthly to see if the profit they projected at the beginning of the year is still realistic. Monitoring their budget will give them the flexibility to adjust their wants, needs and must have so that the projected profit is realisable at the end of the year. Profit is the measure of a business performance.
Ideally, the process of budget planning for the next financial year should give everyone in the organisation an opportunity to reflect on what they've achieved, what the external environment is telling them and where they want to go next. In times of recession, businesses will aim to increase revenues or they may maintain them, they could specifically target a certain market, or invest more in a profitable area. Businesses will focus on these specific areas by everyone in the business. Unfortunately, hardly any business gathers the full rewards of focused engagement with the budget process. Too often businesses are facing the future with budgets that are reluctantly thrown together by cost centre managers with other things on their mind.
