Contribution to innovation and change. Explain three points of innovation in a business environment.
Task 1 You have been asked to write an article for a magazine called "How to contribute to innovation and change within the organisation". . Explain three points of innovation in a business environment. Businesses that encourage innovation and creativity are more likely to succeed than those which don't embrace change. This can be achieved by: > exploiting new ideas > taking advantage of new technologies > leading the market rather than follow it 2. Explain why it is so important to review existing ways of working in a positive way, identify four ways for doing so. > Improve business processes to increase efficiency and productivity > Develop new and improved services to meet rapidly changing customer demands > Differentiate your business from your competitors to increase your market share > Take advantage of new technologies to enter potentially lucrative new markets > Attract and retain key staff by building a reputation as a dynamic, forward-thinking organisation. 3. Explain three benefits of teamwork when contributing to innovation and list three behaviours and attitudes which will support this innovation. > People with diverse talents, personalities, and backgrounds who are able to exchange their ideas freely set the tone for change. > Recognition that there's not just one correct way of doing things and being appreciated makes you want to be more
Comparative report on HMV and Hope House. The manager has decided he is still unsure about different types of business ownership aims and objectives. He has asked you to create a short report that will incorporate the two sections. Within this report he has requested you to compare and contrast the following points for your two businesses. (The two businesses must have been researched for your P1 task). HMV This is a public limited company. The name of the company ends with plc / plc. Shares can be sold on stock exchange and the public can by the shares and investors can buy shares as well. Shares sold to the public bring in a lot of money to the company. HMV belongs to the tertiary sector, and is a public limited company and it's the largest of it kind in Britain and Canada HMV sell Entertainment good's such as music, Blue ray, DVD's, games, gadgets and t-shirts; they also sell ticket to gigs and comedy. HMV was founded in the 1920 in London. HMV is a global company but is based in the UK with over 700 stores in 7 different countries and over 11,400 staff. It's served in the UK, Republic of Ireland, Canada, America an in the Far East. HMV is a global company and it's well known. Hope House Hope house is a charity run business and it belongs to the tertiary sector, and they employee 40-60 of staffs in United Kingdom. Hope house is a children hospice which provides
In this assignment, I will be writing about the different departments in Oxfam and Sainsbury's. SAINSBURY'S One of Sainsbury's main functional areas is distribution. They ensure goods are delivered in the right place, at the right time and in the right condition. Distribution is also involves arranging for goods to be cost effective. * Planning vehicle routes to avoid back tracking. This keeps fuel costs down and saves time. * Making sure that goods are stored appropriately before they are delivered. * Checking if deliveries match the order. Human recourses The human resources of business are its employees. HR is responsible for employing knew staff and making sure each vacancy is filled. * Advertising job vacancies. * Maintaining staff records. * Advertising promotional opportunities. * Checking health and safety and keeping accident records. Finance In nearly all organisations the most important functional area is the finance department. Sainsbury finance staff support the accountants by keeping financial records. * Record money received * Checking and paying invoices received. * Preparing the pay roll and paying the staff salaries * Issuing regular budget reports to all the departments. Customer service Customer service is also a main functional area in Sainsbury's. This part of Sainsbury's handles complaints positively and professionally. They also: *
Functional Areas within a business:- Functional areas are different departments of a business. Every business either it is a small small business or big business like a Coke Company or Mobile Company it needs functional areas. Because functional areas are different departments of a business to help the business to run or to develop their business from low position to high position. In short only one person cannot control the whole business every business needs Functional Areas for different functions. Some of the Functional areas are given below. Finance: This department of a business spends money on Capital Resources like Computers, Machineries and other goods which a company needs. They are in charge of every missing stock in the business. And mostly in charge of money coming in and going out of a business. They pay wages and salaries to their Employees and they also prepare accounts and gives information of all the cash flow of a business. Administration: This department keeps records of a business, they answer phones or making calls to the other departments, they open type of letters and E-mails etc and writhe E-mails and use to forward it to customers .Sectary's make sure the business in operating efficiently. Human Resources: This department of a business look after the employees, which means they can fire any employer from their business and can hire an
In this piece of coursework I will talk about the activities that Jaguar Cars currently has in place so that they achieve their aims and objectives.
Activities at Jaguar There are many activities that jaguar can undertake to insure that they meet their aims and objectives. Activities are specific things that jaguar are doing and can do so they meet their aims and objectives a lot quicker. In this piece of coursework I will talk about the activities that jaguar currently has in place so that they achieve their aims and objectives. The first aim that jaguar has it so meet production targets. There are many ways in which jaguar can ensure that they meet this aim. The first thing that they can do is to continuously update their lantern board. The lantern board is where all the information about the cars to produce is put up and the targets for the day are put up. There are many advantages for this. The first advantage that this has is that it makes the employee's job easier as it shows them what they need to achieve by the end of the day, by doing this it means that the production line will be continuous because all the employees will be doing the jobs that is required of them. If the production line is continuous it will lead to customer satisfaction as they will be getting their cars on time. The second advantage of having the lantern board up is that it keeps the employees motivated, the way in which it keeps them motivated is because it shows them a clear list of what they need to do, and this will make them
Economic Influences Economic influence is when a business is affected in any way by the economical factors. Economic Factors are the main elements that affect financial matters of a business like tax, interest rates, banks and stock markets. There are different ways in which different economic factors can affect a business for example the taxation is one of the main factors that can affect a business, it can affect the business because they have to pay tax to the government on the energy they are using or they have to pay some profit that they make to the government as tax. Interest rates are charged on every loan that a business takes from the bank, this can affect a business because if they keep on borrowing the loan they would have to pay extra money back to the bank this can affect a business in making profit. Stock market is where the Longleat's stakeholders can buy shares and invest in business because they get a slice of ownership in the company, their company can be completely taken over. As a large business Longleat has to face a number of economical factors such as taxation, interest rates, labour. Stock markets is not one of the important factors faced by Longleat because Longleat is a private limited company and it would only give shares to the investors it selects. Factors such as tax are common in every business, Longleat has to pay tax to the government such