Applied Business Investigating People At Work Flashcards
Sex discrimination act 1975
- Promotes equality for men and women in terms of opportunities.
- Employers must follow rules and it is illegal to discriminate against people due to gender.
- workers and customers must be treated fairly.
- when recruiting the act must be taken into account as well as promoting staff.
Equal treatment for all.
The availability of same rights position and status to all people regardless of gender ,sexual preference ,disability, age, race, ethnicity or religion.
Race relations act 1976
Discrimination on grounds of colour, race, religion or ethnicity.
Applies to GBR but not NRI
Advertising jobs
- National newspapers
- job centres
- trade journals
- local shop windows
- Internet
- store it’s self
- notice board
Application form includes
- any disabilities
- how many working hours
- professional qualifications
- previous education
- contact details
- name
- relevant information
- previous jobs
- skills
- references
- criminal conviction
Why you may leave a business
- Not enough pay
- discrimination
- more than the job description said
- to much or not enough hours
- change in a career
- don’t like job
- being told negatives about the work there
Why do company’s train their staff?
- so they know what they are doing
- so they know they are best for the company
- feel more confident in their job
- build on experienced
- multi skilling
- training for promotion
- keep staff motivated
- new staff
- new jobs
- new equipment/soft wear
- keeping staff up to date
External and internal are…
Outsourcing
Inhouse
Apprenticeships
-young people and adult learners to earn while they learn, real job where you can gain qualifications
POSITIVE
-it helps to gain their own talent by developing a motivated, skilled and qualified work base.
NEGATIVE
-not all occupants offer apprenticeships they don’t earn a lot of money however gain experience.
Investors in people
They are there to help you realise that the potential of your people, improve standards and gain the accreditation to prove it (support people to become better at what they do.
Aims and objectives
AIM
An aim is an overall target for a business
OBJECTIVE
objectives are steps that will enable the business to reach their aims
Sole trader
Mostly small business and are owned by one person
ADVANTAGES
-owner has complete control so aims and objectives can reflect own personal interests.
-no pressure of working for someone else.
DISADVANTAGES
-harder to raise finance
-May have to work very long hours
-unlimited liability
-owner responsible for all business debts
CAPITAL FINACE RAISED BY OWNER TAKING OUT A LOAN OR BY PUTTING SAVINGS INTO THE BUSINESS
Partnership
Business owned by 2 or more people small business
ADVANTAGES
-able to raise more capital
-difference partner could have skills the other doesn’t
DISADVANTAGES
-arguments between owners
-unlimited liability
CAPITAL FINANCE RAISED BY OWNERS TAKING OUT LOANS OR BY PUTTING SAVINGS INTO THE BUSINESS
Private limited company (ltd)
Usually owned by a small number of shareholders often two people
Ltd limited liability
Business functions
Main functions:
- production
- marketing (customer service)
- human resources
- finance
- administration development
- ict
The three ms
Why businesses fail: money, management and marketing.
Types of ownership
PRIVATE SECTOR -sole trader -partnership -ltd (private limited company) -plc(public limited company) -cooperative -franchise PUBLIC SECTOR -government run -charities
Franchisee/franchisor
Franchisee-buys into the business
Franchisor-owns the business
Cooperative
-All employees are members
-members of the cooperative get bonus depending on size of profit
(Waitrose)
Profit maximisation
- good product
- good advertisement
- good reliable staff
- good quality cheep materials
- good place to sell
SMART targets
Specific- what, where, how? Measurable- from and to Assignable- who? Realistic- feasible Time based- when
Four P’s of a business
PRODUCT
PRICE
PROMOTION
PLACE
Marketing objectives
- To achieve or maintain market share.
- to target a new market or market segment
- to develop a range of products that market research has indicated will be successful
- preventing losses or declining sales
- to favourably position of a product
- to create a competitive advantage
- diversification
- to increase profitability and revenue
Recruitment and selection
Filling staff vacancies there maybe a number of reasons for recruiting new staff:
- the business is starting up (what job roles will be required? What structure will the business take?)
- the business is expanding (more orders/moving abroad/changing what they do) and be promoted and new staff recruited to fill their positions.
- staff leave/get internal promotions and need to be replaced. Staff leave due to retirement, promotions because they are interested and demotivated and find a new job, because they have been dismissed.
- the business is changing what it does and needs employees with different skills to meet its needs for example, your supermarket may start to sell petrol and will need staff with every entirely different roles.
Recruitment process
- Identify vacancy
- Analysing of job
- Business job description
- Is post to be filled internally or externally
- Choose media or advertisement
- Advertise the job
- Short list candidates for interviews
- Interviews
- Select best candidate second interview required (if yes go back to 8)
- Notify success candidates
- Feedback to unsuccessful ones
- Training
- Start job
Analysing of job
Identify which vacancy needs to be filled and the duties involved in the role
Human resources
- recruitment and retention (job description,persons spec)
- dismissal
- redundancy
- motivation
- professional development and training
- health and safety
- liaison with trade unions
Sales and marketing
- Market research
- promotion strategies
- pricing strategies
- sales strategies
- the sales team
- product
Research and development
- New product development
- product improvements
- competitive advantage
- value added
- product testing
- Efficiency gains
- cost saving
Finance and accounts
- cash flow (monitoring income/revenue, monitoring expensive)
- preparing accounts
- raising finance (shares,loans)
- links with all other functional areas
Production/operations
- acquiring resources
- planning output/labour,capital,land
- monitoring costs
- projection on future output
- production methods (batch, flow, job, cell)
- efficiency
Customer service
- Monitoring distribution
- After sales service
- handling customer enquires
- advice to customers
- dealing with customer complaints
- publicity and public relations
