A/601/1740 Business Operation Unit 1 UK CBC College Level 4

In the present report explain about, Different type of organisations prevail within private and public sector, different structures within the businesses, impact of local, national and global economic environment upon business, importance of accounting, functions carried out by HR department and key features of employment legislation. Also, information which is provided by P&L accounts, different activities which helps in developing training programmes and impact of customer service on success of business.

Task 1

1.1 Importance of accounting in success of business

Accounting is important aspect which includes the formulation of different types of accounts like income statement, balance sheet and cash flow statement which helps to gather financial information of organisation to manage other functions effectively. Other importance of accounting in success of business is defined below:

• Evaluating performance of business: The annual accounts of organisation helps to gather the information regarding incomes, expenditures, assets and liabilities. Through application of the provisions of different financial ratio easy to interpret the performance of organisation which is compared with budgeted to bring improvements in actual performance (Dunning, 2014).
• Effective management of cash flow: Formulation of cash flow statements helps in effective management of cash. It helps in maintenance of liquidity within the organisation.

1.2 Different functions performed by HR department

There are many functions are performed by the HR department of Unilever which are defined below:

• Recruitment and selection of employees: This is one of the important function which includes appointment of new and talented staff members which effectively perform their tasks within the organisation.
• Appraisal of performance: This is another important aspect which includes appraisal of the actual performance of employees on the basis of the standards which are set by organisation.
• Development of training programmes: HR department also has the role to develop training programmes according to the requirements of different employees. It helps in development of their actual skills and knowledge.

1.3 Key features of employment legislation

There are many legislations are provided by UK government which is need to fulfil by all organisations while appointing employees in organisation. This brings an obligation upon the management of Unilever to fulfil all such legislations defined below:

• Health and safety at work Act 1974: It is one of the important legislation which brings an obligation upon the management that provide safe working environment for employees which ensures maximum safety of their health (Gassmann, Frankenberger and Csik, 2014).
• Minimum wages act: It is one of the important act which includes the provisions regarding minimum wages which is need to provide by organisation to their employees. The main purpose of this act that reduction of exploitation of employees.
• Equality Act: The provisions of this act govern the activities regarding maintenance of equality within the organisation and there is no discrimination among the employees on the basis of their gender.

Task 2

2.1 Interpretation of financial information on the basis of Profit and Loss account

Task 3

3.1 Determination of their own and other roles within a team

There are different type of teams are working in organisation. It is the duty of all the members that they perform their roles effectively for accomplishment of the organisational goals within stipulated period of time. The different kind of roles which are performed within the team are defined below:

• One person in the team has the role of creation of new ideas which helps in performance of diversifies function more appropriate manner
• Another role which is need to perform within the organisation is to explore opportunities and contacts
• Co-ordinator is the person which provides the function regarding clarification of the goals and promotes decision making
• Shaper which performs the function which helps to take the team forward.
• Team workers which provides support other and motivates them in completion of work
• Monitor which provides the function regarding oversee of all the functions
• Implementer is the person who is responsible for the turning the ideas into actions and attains their desired results
• Completer is the person which provides their activities related to finishing up of work as per standards (Omar, Leach and March, 2014).
• Specialist which is having the knowledge and skills in one aspect which bring efficiency in their operations

3.2 Different stages of team development

There are many stages which helps in development of the team within the organisation. The management of Unilever uses Tuckman team development theory for making their teams more effective and efficient. The different stages are defined below:

• Forming: It is the first stage where employees are don't know each other and they seems to be positive and polite. At this stage, team members don't know their roles and leader plays an extensive role which motivates the employees to know each other.
• Storming: It is second stage, where employees are pushed beyond the boundaries. This is the important stage because many teams failed in this stage. Here, large number of conflicts are arise between the employees due to having different working styles.
• Norming: It is the third stage, where team members get to know each other and start resolving their issues. This will includes the activities related to appreciating of their colleagues due on the basis of their strengths and skills. Here, support is provided by each other in completion of their functions.
• Performing: Last stage, where team coordinates their different function in achievement of their desired goals (Shenkar, Luo and Chi, 2014.Storey, 2016).

3.3 Three motivational theories

There is huge importance of motivational theories in motivation of the employees and improving their passion towards their business functions. Such different theories are defined below:

• Maslow's: This theory provides that employee fell motivated if there needs are satisfied. This will includes self actualisation, Esteem, belonging, safety and physiological.
• Herzberg's: It is two factor theory which are known as Hygiene factors and motivational factors.

3.4 Different types of leadership styles

There are many leadership styles which are adopted by the leader for directing their team members. The different kind of leadership styles and their role is defined below:

• Transformational: This will includes the motivation of employees through building effective communication channels.
• Transactional: This will includes about the establishment of clear chain of command which helps in effective management of different activities.

Conclusion

It has been concluded from the above report that there are different aspects which is need to effectively oversee by the management of organisation for attaining sustainability in their business operations. The different aspects includes factors present in business environment, different business functions, role of accounting, contribution of team work and customer services. Effective performance of all these functions helps to attain success.

References

• Adjei, H. and et. al., 2014. Assessing the Corporate Social Responsibility Activities of Atwima Kwawoman Rural Bank Limited and its Impact on the Communities it Operates.European Journal of Business and Innovation Research,2(4), pp.36-47.
• Bernstein, M.H., 2015.Regulating business by independent commission. Princeton University Press.
• Doppelt, B., 2017.Leading change toward sustainability: A change-management guide for business, government and civil society. Routledge.
• Dunning, J.H., 2014.The Globalization of Business (Routledge Revivals): The Challenge of the 1990s. Routledge.

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