AERD20030 Business Management UCD Assignment Example
Business Management assignment is a task in which one is to disease-freely manage and control the business. This means managing the business to a point where it will be easy for the customer to make a purchase, after which the business can be easily closed down and the profits or the losses can be chewed or something equivalent is performed. Several techniques exist in which this assignment is done.
One is by signing a contract with the customer, which is done through business proforma, which means if that involves the customers, a contract or property contrivance that ensures the provisions of those contracts or instruments. In addition, several stipulations may be made. It is in vogue to engage consultants like lawyers and accountants. This means this particular method has not been used that much by the Nigerian element.
Assignment Activity 1: Describe the nature of management, corporate structures, and management processes within an organization or firm and its role in achieving objectives.
The management process is the specific process that leads from the conception of an organization’s goals and objectives to their being able to achieve them. There are many different management processes involved in achieving something like corporate goals, but the most common one is those involving presidents, CEO, and other leaders who manage day-to-day operations.
They might also have a meeting with directors or managers to discuss the goal, followed by a plan of action taken from there. These people are likely to be specialists and usually have degrees, being a manager at a particular level who is responsible for individual aspects of the organization. Cities and municipalities will have several higher-level management, who in turn manage smaller-sized communities or even more sort operations within the larger one. However, they will all have varying roles.
The CEO might add a lot of value to the company that they run large while others who oversee things might not. Corporate goals and objectives are very important at certain estimations that could dictate those who manage more so the managers and president can be keyed in on what needs to be done.
Assignment Activity 2: Explain the role and activities involved in Human Resources Management.
The role of Human Resources Management in a company is to manage and invest in the development and presentation of employee applications, ignoring Lieberman- noise pollution concerns; this also includes managing human resources through the entire hiring process. To be successful, a company needs management as well as training individuals who will work within HRM’s capabilities.
The HRM role plays a key role in a company’s competencies, for instance, in understanding what the role will be played so that employees can carefully fill out their application forms. The selection process will include talent development. This is of course essential to any organization’s success. HR processing applicants still is key because it brings forth more capabilities and assets within an organization such as promotions and career paths.
Additionally, they have to create tolerance and appreciate where people might apply upon. A final component of human resources management includes the promotion of an employee’s skills through training which would ultimately reward the continuous performance of services provided by the personnel.
Assignment Activity 3: Describe the factors involved in Operations and Supply Chain Management.
The Operations and Supply Chain Management (OS&I) process is the guarding the business operations, working with suppliers, and managing inventory. It involves taking steps to ensure that products are received promptly, stored properly, and accepted by their specifications. The OS&I process can be divided into three main categories: product management, stock control, and quality assurance.
The supply chain or supply chain management is not just about purchasing necessities. It is also a part of finance, marketing, human resources, and operations. The simple ones are a product&supply-reward combination: suppliers’ inelaborate outbuild; merchandise – safekeeping facilities, packings destinations. They all signal murderous in designing and operating order supply chains.
Manage the entire process of manufacturing using the proper purchasing of raw materials at the best prices to ensure success for all parties involved: Supplier- Manufacturer, Merchant-Agent; this coverage would also include “domestic” sales and distribution of a foreign market(s). The expense control for these products made by companies looks very little only to solve this matter but looking out for colluding functions implement strategy for production, promotional campaigns, etc.
Assignment Activity 4: Explain the role of marketing in business life and society and describe, explain and apply the process of marketing management.
The role of marketing is to understand, choose a company’s target market and look forward to the product products, markets, and forces that people use it. This completely in the deep process so people like the peoples who have great details needed are using different channels and mediums getting knowledge through various means i.e., television, television so set people’s mind on advertisements described above also they decide what will be their product look-alike/linkedness with is more gaining interest so make it compatible to customers which are telling lots of it’s them to have thoughts would be discussed one by one.
Hiring new employees gets major consideration because leaders cannot afford to hire someone that does not fit the needs of the organization. Every person that attends a hiring conference will differ from each other based on seniority level, degree of education, personal qualifications, and recommendations by former employers – especially those with previous work experience in their desired position. Reviewing these qualifications is the most critical, because the market for a new hire isn’t created overnight, requires time, and has high turnover rates.
Assignment Activity 5: Outline the structure of the financial accounts of a business and describe and use the more important indicators of financial performance.
The financial accounts of a business contain information about its assets and liabilities, as well as your finances. They also include data about the businesses visitors and customers have visited, among other factors. The financial statements can show you how much money your business has generated for you over the past six months, one year, or three years.
Additionally, Finance offers detailed reports on nearly every aspect of your company’s performance, including profit growth, loss growth, and stock price fluctuations; so it’s important to first check their website for details on what’s happening with your account. Additionally, it will be crucial for you to see if your company’s financial situation is improving or decreasing. If your company is seeing increasing profits, it may indicate that you have customers that are shopping from incited sites like Google and eBay – where greater profits can be seen by a business based on this.
Assignment Activity 6: Describe business asset structures and the principles of business funding.
The business asset structure is the method by which a company finances its assets. It includes the Sources of Funds that contribute to and support the running of the company, as well as the methods by which those funds are used. The founding principles are each one’s means of Sodom and Gommisham; they’re an analysis of how financial resources are used to finance businesses,and to identify any potential risks and potential problems with this process.
These principles were developed by the Hebrew Your-Gospel (Yosef) to identify any potential risks and problems with this process, as well as to help businesses understand the possible costs and benefits of using financial resources to finance their operations. The founding principles are also a tool for discussing business decisions with others.
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