How employee performance is managed and measured at a business
Assignment 4-How employee performance is managed and measured at a business .0 Introduction I will write a report regarding an employee working at Tesco, and analyse how Tesco look at their employees and review their performance and see how they manage them. This is so that they can get the best performance out of them, as different people need different ways of managing them. This leads to performance improvement, the measures leading companies use to effectively manage employee development, rewards and recognition, recruitment and selection, and employee satisfaction and morale. 2.0 Findings 2.1. How Tesco manage and measure a performance of an employee Tesco is a global company and for them to remain one of the best they must man manage their staff, and measure how well they are performing as an employee, this not only benefits the company as sales will be better but also the employee can see what areas they are exceeding at, but also what areas they can improve upon. Performance Management- There is many approaches that Tesco take upon to the development of a sound performance management system with employees. Tesco believe that an employee must have clear work plan objectives that are aligned with the goals of the company, measurements to assure whether an objective has been achieved, such as has the employee reached their sales total of the day. An assessment of
Business Costs
Business Costs In a business there are three different types of business costs these costs are: Direct & Indirect Direct costs are expenses that can be attributed making a particular product such costs include factory labour, raw materials and operating machinery. Indirect costs are the general overheads of running a business for example; salaries, telephone bills and rent. Firms that make more than one product will want each one to earn enough sales revenue to cover its direct costs and make a contribution to indirect costs. If all the products together make enough contribution then the business will make a profit. Fixed & Variable Fixed costs are costs which do not vary. They are mostly indirect costs - Management salaries, telephone bills and office rent. They have to be paid even if the firm produces nothing. Variable costs are costs that cab change every time a bill etc... must be paid, these are mostly direct costs such as factory labour, raw material etc...Some costs are semi variable, they only vary slightly because they have a large fixed element, for example workers wages - most people receive a basic salaries and only part of their pay is linked to output. Fixed costs are usually only fixed over a short period of time, if a firm is expanding, it will take on more managers and rent more offices so the fixed cost will increase. A firm can work out their
business online
Task 1 In the report I will be investigating why it is important to have a business online, how it affects the business and the importance to investors and other businesses. I have chosen two businesses to research how being online helps them what their aims and objectives are A) 1. The online business I've chosen is Amazon 2. The super market I've chosen is Tesco B) Amazon.co.uk is famous for selling books but the turn over wasn't making enough profit, but now they sell other stuff like from cameras to coffee machines, exercise videos to Elvis CDs, they say there's something for everyone. They also enable independent sellers to sell new and used items on their website via Amazon.co.uk Marketplace. Within Amazon.co.uk you are able to use a variety of resources to help you make your choice, this including customer reviews and personal recommendations. The Amazon Associates program was the first online affiliate program of its kind when it launched in 1996. Today, it is the largest and most successful online affiliate program, with over 1,000,000 members world-wide Customer Focused - Amazon seeks to be the world's most customer-centric company, a place where people can find and discover anything they might want to buy online. Previously Amazon only sold books, music and toys, as they found out that they weren't even breaking even so they decided based their company
Business Activity & PLC
Business Activity Tesco specialises in food and drink as their core product and this helps them to concentrate in one major area. This also helps them purchase a large number of products in bulk and therefore gain huge discounts as they are benefiting from economies of scale. Tesco sells other types of products apart from breakfast cereals, toiletries and snacks. They do this because over the years they have realised that their customers want to do all their shopping under 1 roof rather than in 10 different shops. A few years ago Tesco decided to start selling other type of goods like foreign food, halal food, low G.I, organic and low fat food. Selling different types of products will benefit customers because they will be getting what they have in their normal diet but at cheaper prices. This shows that Tesco responds to the latest trends in the U.K., and thus satisfies everyone. The reason Tesco sells their products so cheap is because they buy them in bulk and gain low prices. Also selling products at low prices helps to gain customer loyalty which has helped the store a great deal, and helped them to gain huge profits. Tesco's main income is through food and drink but they sell other products as well. This diversification has helped the firm to raise £280 billion. Some of the items that are sold are clothes, household goods and electronics etc. Tesco aim their
Unit 4 Business Studies
Unit 4: Investigating Electronic Businesses Introduction In this unit I will be comparing two existing businesses which I will be choosing and in the comparison I evaluate whether they achieve their business aims and objectives of having an online presence. In the second part of my coursework I will be recommending some improvements which are to be made for one of the businesses, and I will also highlight some factors which influence a business to open themselves up to online trading. And finally I will be also designing a new website for a new business and planning the creation of the new website. Electronic business is: "Electronic Business, or "e-business", may be known as a business which relies on an automated information system; today this is done by web-based technology. The term "e-business" was put together by Lou Gerstner, CEO of IBM. The Electronic business methods allow the business to put together their external and internal data together more efficiently and flexibly which allows them to work more closely with their key stakeholders; and to reach the expectations of the stakeholders like customers. E-businesses usually include e-commerce; e-commerce is simple seeks to add revenue streams using the Internet. The internet helps them build and enhance relationships between the business and the key stakeholders being the customers and improve efficiency.
Central Business District (Cbd) Investigation
Introduction: The inner city is the zone between the central business district (CBD) and the suburban housing areas. In British cities the inner city grew during the industrial revolution. Factories were built on the edge of the historic towns, now the CBD. Many people view inner city areas as rather dull and depressing as they tend to be overcrowded and polluted. Unfortunately even though the problems of inner city areas are apparent the local councils and business and invested a greater proportion of money in CBD rather then inner cities, which has lead to an escalating problems. The Diagram illustrates the burgess conurbation model, which highlights the various areas of a conurbation settlement: The burgess model of urban land consists of five concentric circles arranged around a CBD inner core. All conurbation models initiates with the central business district (CBD), which forms the heart of a settlement. Large businesses exist here since they are the only ones able to afford the high land values and rents. The inner city is the 2nd zone in the burgess model. This zone represents old industry established at the birth of the city. The third zone is known as the "Low-class residential" which is located in the inner city close to the old industries. This was because the poor who worked in these industries had to be local. The medium class residential represents
Working in a business environment
Outcome 1: Understand how to respect people at work. .1 Describe what is meant by diversity and why it should be valued. Diversity means that people are valued for their differences, meaning that they are placed in a job that is well suited to them, creating a more productive workforce. An example of this would be having a receptionist that has a bubbly personality, who is always smiling and willing to meet new people, as opposed to a grumpy, antisocial person who does not want to be there. It should be valued as it means everyone can produce their best work and people will work harder at a job they enjoy and are good at. .2 Describe how to treat other people in a way that is sensitive to their needs. To be able to be sensitive to other peoples needs, first you have to work out and decide what their need is, this could be either obvious or less obvious, for example they may use wheelchair. Once you have understood their needs, you need to work out and understand how to treat them. Carrying on with the use of a wheelchair, the employee should not be treated any differently than other employees in the sense that they should all have the same opportunities for progression in the workplace as others, however, to aid them on a day to day basis, it may be polite to hold open a door for them, or ensure that there is ample parking room in place. .3 Describe how to treat other
Business Culture & Strategy Analysis Of JD Wetherspoon
Business Culture & Strategy Analysis Of JD Wetherspoon Reported by: CHEN LING Assessor: CHEN JING Date: 7th December,2009 Content Page . Introduction.....................................................................3 2. Discussion........................................................................4 2.1 Section 1...........................................................................4 2.1.1 SPELT Analysis 2.1.2 SWOT Analysis 2.1.3 Guide lines 2.2 Section 2...........................................................................7 2.2.1 Shared Values& Taken for Granted Assumption 2.2.2 JD' Culture 2.2.3 Organisation Culture& Behaviour 2.2.4 Culture Comparison 2.3 Section 3...........................................................................9 2.3.1 Strategy theory 2.3.2 Strategy during 1980s and 1990s 2.3.3 Strategy in 21st century 2.3.4 Consider factors before changing strategy 2.3.5 "Business strategy" and "strategic choice" 2.3.6 Considered issues 2.4 Section 4...........................................................................14 2.4.1 Forces for changes 2.4.2 Business ethics leads to changes 2.4.3 Roles played in dealing with changes 2.4.4 Advices 3. Conclusion ......................................................................17 4. Recommendation ..............................................................17 5.
Financial analysis for a new business - Delight Lollies
Task One In task one, we have been asked to identify 4 different costs that James and Lucy have to pay, these costs are; start up costs, running costs, fixed and variable costs. Fixed Costs- Fixed costs do not change with production. No matter how much profit that you make you will still have to pay for things such as: rent, business rates, and interest on loan payments, insurance, salaries. Fixed costs always stay the same, even if you make no profit at all. Variable Costs- Variable costs change with the number of goods and how much a business tends to make. The costs increase as the more profit you bring back to the business. Examples of Variable costs are: raw materials, refreshments for customers, and wages Starts up costs- Start up costs are costs in which you only ever pay once, and that is usually at the start of the business. Examples of start up costs are premises, machinery, equipment, fixtures and fittings and market research to start up the business. Running Costs- Running costs are paid everyday to run the business, examples of these are wages, bills, raw materials and insurance. Fixed Variable Rent £40 Each Box purchased each day: £5.50 License for Trade £20 Block of Ice £50 Delivery Charge (weekly) £14 Total £124 Total : £27.50 Overall Total: £151.50 Fixed Variable Rent £40 Each Box purchase £55 License of Trade £20 Block of Ice
International Business Strategy - Case Study on Unilever
EXECUTIVE SUMMARY Every multi-national corporation has a business strategy that enables it to get ahead of its competitors. Unilever, as one of the global leaders that offers consumer goods including brand name foods, personal-care items and household products and owns an extensive global operation network in almost every country, has also developed its unique set of business strategies. Unilever is strong in making head start in emerging economies and has been making significant contributions to the economic growth in these countries. Emerging economies are developing countries that in general have less compatible infrastructure, in particular, for economic activities to take place effectively and majority of their populations are living in conditions that are below international standards. At present, over 44% of Unilever's sales come from emerging economies and further growth in consumption is expected in near future. This is in fact more than enough to take Unilever somewhere better than being the second largest in the global consumer goods market; nonetheless, as competition intensified, Unilever started losing the hang of it. Since Mr. Patrick Cescau became Unilever's sole Chief Executive in 2005, series of operation reforms were initiated. The strategic evolution under Cescau's management brought Unilever out of its dreadful situation and is regarded as one of
