wjeceduqas asa level year 1 business student guide 1 business opportunities
wjeceduqas asa level year 1 business student guide 2 business functions
wjeceduqas a level year 2 business student
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Analysing non-financial performance
Analysis financial performance
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Business Studies
Component 1 - Business Functions
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People in organisations
Human resources department’s function:
Hire and train staff
Keep and maintain records of employee’s performance
Ensures that the business abides by safety and employment regulations, such as
holiday and sick leave entitlement
Assist managers in making decisions in staff performance and disciplinary issues
Benefits to businesses of flexible working practices:
Business can expand and contract their workforce quickly in response to a rise and
fall in demand.
Temporary staff are cheaper to employ.
Flexible workforce is likely to make a business more efficient. This may result in
lower costs.
Drawbacks to businesses of flexible working practices:
Temporary workers are less likely to have the same commitment to a business
compared to permanent workers. (Could be less efficient than a permanent worker)
Communicating with a workforce which works largely from home can be an issue
and the benefits of teamwork may be lost. Workers may feel isolated. (This can
result in decreased productivity)
Type of flexible Explanation Advantages Disadvantages
method
Flexible hours Vary the number of Employer: less cost Employer: too much
hours you can work Employee: flexibility could result
adaptability, in having insufficient
personal control staff
Employee: uneven
workloads
Working from Do their job from Employer: reduces Employer: lack of
home home cost of providing motivation
workspace, less sick
absences Employee:
Employee: can save distractions and
time and money interruptions
commuting
(convenient)
Part time Work shorter hours Employer: low cost Employer: takes
longer to train part
Employee: work time staff
, shorter hours Employee: difficulty
in scheduling
meetings
Temporary Employed for a Employer: low cost Employer: takes time
employment specific period of for member of staff
time Employee: income to become
stream productive
Employee:
Job sharing Two employees Employer: improves Employer: scheduling
share the recruiting by challenges for
responsibilities and attracting qualified training and
benefits of a full- employees who meetings
time member of don’t want to work
staff full time Employee:
communication
Employee: work life error, one may do
balance more work than the
other
Multi skilling Training employees Employer: can cover Employer: needs to
to do several jobs many roles have good training
Employee: flexible Employee: may be
working overwhelming to
learn a large variety
of skill and
remember them
Zero-hour Business does not Employer: reduced Employer:
contracts guarantee work costs uncertainty if the
employee is available
Employee: extra
income Employee: no
guarantee for job,
unpredictable hours
Hot desking Desks in an office Employer: low cost, Employer: poor
are not allocated to saves money management can
a specific member lead to too many
Employee: suits staff and not enough
mobile/remote work space
workers
Employee: less
privacy
Workforce planning
, Workforce planning is about trying to predict the future demand for different types of staff
and seeking to match this with supply.
Factors that influence workforce planning:
Business objectives – increasing output/ opening new branches which will require
more employees.
Labour market changes – labour market trends have implications for the recruitment
and retention of staff.
Demographic and social change – ageing population in the U.K, is affecting both
demand for products and services required by this age group, as well as workforce
supply.
Technological change – leading to large change in ways of working and the skills
needed in the workforce.
How workforce planning helps the businesses:
How many employees are and will be needed?
Manage employment expenditure (employee salary)
Sufficient and appropriate training is provided
Cope with peaks and troughs in supply and demand
Improved service to customers
Reduce employee turnover (staff leaving the business)
Implement diversity policies
Manage staff performance and sickness absence.
Recruitment
Internal recruitment – looking to fill the job vacancy from within its existing workforce
Benefits:
Gives existing employees a chance of promotion
Business already knows the flaws and strengths of the existing candidates
Have experience and know a lot about the company (have experience within the
business)
Reduced time to hire
cheaper
Strengthens other employees’ engagement
Drawbacks:
Leaves a gap in your existing workforce
Limits your pool of applicants therefore fewer employees will have the skills and
experience required to apply
Conflict with other employees
External recruitment – a business is looking for external applicant for a vacancy
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