managing employees and business objectives

Question 1

Managing employees

Answer 1

If employees are managed effectively, they are likely to feel valued, encouraged and motivated to perform to their best ability. Subsequently, high performing employees can improve the businesses performance and assist the business to achieve its objectives

• The activities and tasks involved in getting the very best out of the employees who are working for you.
• Employees can be a vital asset and competitive advantage for a business
• Employees are the ones that achieve the business objectives.
• To achieve objectives, it is important that employees are performing to their potential

Question 2

How can managing employees achieve business objectives

Answer 2

The effective management of employees can ensure they are performing at a high level.
This can include:
- Aligning employee and business objectives
- Motivating employees
- Training employees
- Measuring and managing performance

Question 3

Business objectives

Answer 3

• make a profit
• increase market share
• meet shareholder expectations
• fulfil a market need
• fulfil a social need

Question 4

Make a profit

Answer 4

Increased job satisfaction reduces the number of employees leave in the business. Which reduces the cost of recruiting and training replacement employees.

Question 5

increase market share

Answer 5

Increased job satisfaction improves the quality of goods and services manufactured and delivered. This increases customer satisfaction which increases sales.

Question 6

meet shareholder expectations

Answer 6

Increase job satisfaction motivate employees to work harder. Increases sales and therefore profit, allowing a higher dividend to be paid

Question 7

Fulfil a social need

Answer 7

Increase job satisfaction increases employee support for business initiatives. Improve the success of initiatives that are you the community or reduce waste.

Question 8

Fulfil a market need

Answer 8

Increase job satisfaction promote employees contributing innovative ideas. The business is better able to meet customer needs