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
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
Skills and Knowledge Needed to Work In A Business Environment
Victor Stephenson-Henshaw Unit CU678 EDI Level 2 Certificate In Principles Of Business And Administration Unit CU678 – Work In A Business Environment Victor Stephenson-Henshaw Assessor – Rob Allen ________________ Understand How To Respect Other People At Work ,1 Describe What Is Meant By Diversity And Why It Should Be Valued Diversity can be differences in race, belief systems, physical appearance, mental capabilities, etc. It is also a variety of something such as opinion, colour, or style. Diversity should be respected and valued because not everyone is completely the same even in the example categories; they are not the same as everyone else. Some people like to eliminate what is dissimilar. Our opinions can lead to environmental problems such as violence and hatred because of diversity being a key ingredient to a good and safe environment. Everyone in the workplace is treated equally. Every individual has a unique something to offer and this can help the company. Diversity should be valued because without diversity, the company or the people at the work environment wouldn’t have knowledge on other cultures this can be helpful to the company as it opens the company or people to experience a different perspective other than the usual culture. Diversity should be valued because in case a unlawful discrimination may cost the company if
Evaluate the strategies that a business can adopt during a recession
Evaluate the strategies that a business can adopt during a recession A recession, two negative quarters of GDP in an economy, is inevitably going to lead to a business getting less customers. Its overhead costs will be the same, but its unit costs will be higher because it will not be producing as many products but will still have these fixed costs. This will make the business less profitable in the short-term and so strategies must be implemented to try to improve the business's short-term and long-term prosperity. Such strategies might include improving its cash flow position, downsizing, decreasing its costs, decreasing its gearing and managing its receivables and payables more carefully. A strategy of improving cash flow will involve many aspects. They will need to decrease their fixed costs so that their unit costs will decrease and it will be easier to make a profit in the difficult economic climate. This may involve selling off excess machinery or ordering less inventories, or it may involve increasing its operational efficiency by holding less inventories and thus lowering its storage costs. Ultimately, improving its cash flow will enable the business to remain more liquid in hard times, where investors (e.g. banks) will be less financially lenient, in the way of loaning money to businesses, during a recession. Thus it is more crucial than ever for a business to
NVQ level 2 unit 2 Business Administration. Worksheet on Principles of providing administrative services
Business and Administration Unit two: Principles of providing administrative services Assessment You should use this file to complete your Assessment. . The first thing you need to do is save a copy of this document, either onto your computer or a disk 2. Then work through your Assessment, remembering to save your work regularly 3. When you’ve finished, print out a copy to keep for reference 4. Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number. Please note that this Assessment document has 9 pages and is made up of 9 Sections. ________________ Name: ________________ Section 1 – Understand how to make and receive telephone calls . Complete the table below with descriptions of at least two different features of a telephone system and how / when they would be used. Feature How / when used 1. Answer phone Allowing customers/clients to leave messages when lines are busy or office is closed. 2. computer telephony integration When a call is answered the staff can read through scripts and get prompts on what information is needed. 2. Prepare a brief report advising people on: . How to follow organisational procedures when making and receiving telephone calls 2. The purpose of giving a positive image
Business in the UK case study. Adidas PEST analysis
Adidas PEST analysis Political Adidas need to be aware of the political state of the UK, the same for the all other countries where they have bases. As if the government is unstable, or there are any controversial policies, they may have a bad affect on Adidas. There is a stable political situation in the UK, as it has a democratic government, a democratic government is one that is decided, by people voting on who they want to run the country. This means that if a dictatorship was to emerge and started making decisions that the public didn't agree with they would simply be voted out at the next election. This is good for Adidas when operating in the UK, as it is fairly unlikely that the government would suddenly introduce any controversial policies. This will be good for my product as it gives it firm ground to work on.There are elections every five years in the UK, with the next one in 11 June 2015. This keeps everything functioning properly within the UK, as the government aren't very likely to introduce any controversial policies, as they would be voted out at the next election. This is good for Adidas, as it means that the government aren't very likely to introduce any drastic policies, which may affect them. The government also offers subsidies if organisations set up factories in areas of high unemployment, such as the north east of England and south Wales.An
Human resources for my business. The recruitment process is extremely important as it will allow me to gain fully qualified beauticians for my business by outlining all the requirements needed in a position at Asian Beauty and it will also save a lot of t
Human Resource Introduction Recruitment is the process of identifying that your business needs a new employee and recognising what the new employee's job should involve. The skills, qualities and experience required for the job will need to be established and as a result of this the right person will apply for the job. Recruitment includes four different stages, the job analysis, the job description, the person specification and advertising the job opportunity. The job analysis is the breaking down of a job into its component parts in order to identify exactly what the job requires such as, how many workers are needed?, and what qualities and skills the workers need. The job description is a document that describes the role of the job, this would contain basic information about the job such as, the job title, duties and responsibilities and who they will be responsible to. The person specification is a document that describes the skills, qualities and qualifications required in a person to successfully do the job and advertising the job opportunity is the process of informing potential employees that there is a vacancy in the business. The recruitment process is extremely important as it will allow me to gain fully qualified beauticians for my business by outlining all the requirements needed in a position at Asian Beauty and it will also save a lot of time and money.
Does the increasingly global nature or business mean that all organisations need to change their strategies significantly to achieve higher profits?
Exam Question June 2011: The business world is becoming increasingly global. As a result of this, many companies, such as Costa Coffee and Dyson, have changed their strategies in relation to the markets they target or where they produce. Does the increasingly global nature or business mean that all organisations need to change their strategies significantly to achieve higher profits? Justify your answer with reference to Costa Coffee, Dyson and/or other organisations that you know. (40 marks) The world is becoming a smaller place due to globalisation. It has helped communication around the world making everyone more connective. Companies all of a sudden have access to different countries and have more potential to grow and expand as developing countries have recently under gone rapid growth and industrialization causing new emerging market businesses can enter. This has put pressure on Weston business to expand into theses new regains because if they don't expand they would not be able to compete with competitors increase in expansion and corporate power. Looking at Gap Inc I discovered that they changed their Ansoff Matrix strategy in order to expand and grow. Gap Inc decided it would be best to use the strategy market development, this is where a
Discuss the view that stress is environmentally determined.
"Psychological research has provided evidence to support the view that stress can be caused by life changes. It has also provided evidence of individual differences in response to sources of stress." Discuss the view that stress is environmentally determined. Although stress is an unavoidable part of life and may not be entirely negative as it is able to increase motivation and arousal, psychological research has shown that it can be caused by life changes and can therefore be environmentally determined. Marmot et al (1997) recognised that an environment such as the workplace can cause stress. The results from lower-paid and higher-paid grades self-report questionnaires and five year follow up showed that the lower-paid grade had an overall increase in stress-related illnesses. Consent and debriefing would have been mandatory, however the sample of government civil servants was biased, which would therefore make it difficult to generalise findings. Nonetheless, Fox et al (1993) also concluded evidence that a personal in a low-control high-demand job would also suffer from stress related illness. The workplace can be deemed stressful due to environmental factors such as noise, temperature, control and workload, which are all potential sources. Life changes and daily hassles are also a cause of stress according to Holmes and Rahe (1967) retrospective study. With the social
