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Unit 4 - D1 - Business Communication
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Essay of 4 pages for the course Unit 4 - Business Communication at HSFC (Unit 4 D1)
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Xhuljan Vuthaj Paul BarkerUnit 4 D1
D1: Evaluate the appropriateness of business information used to make
strategic decisions.
Introduction
I will be evaluating the business information received at Havering Sixth
Form College (HSFC) and will be looking at how appropriate that
information is to make strategic decisions. This report will attempt to
identify if the information given to HSFC helps them achieve their
aims/objectives or stop them from being achieved.
Strategic Decisions
Strategic decisions are complex decisions made by the senior
management of a business to benefit the business in the long term. These
strategic decisions will affect the businesses position and it will also affect
the direction of which the business is heading. Strategic decisions are
always a login procedure because a business has to make sure that the
next step they take will take the business forward instead of backwards.
Businesses use all sorts of information when making a strategic decision;
these types of information include financial statements, government
legislations, customer’s behaviour and the economy in general. All these
are looked at when making a decision depending on what your business is
you may look at other sources of information. An example of when a
business had to make a strategic decision was when Coca Cola decided to
buy shares in Innocent Drinks Company. Coca Cola’s financial department
would have looked at all the figures and gathered that if they were to buy
this company it would increase profits for Coca Cola as they are jumping
into a new market which is fruit juices and smoothies.
HSFC Mission Statements and Objectives
“The College aims to be the first choice outstanding provider of full-time
education for 16-19 year olds in this area embracing diversity and
creating excellent opportunities for all. Staff and students will participate
fully in Teaching & Learning to maximise their collective potential and
promote individual achievement at the highest level.”
HSFC have set out their mission statements which to become the best
provider of education for 16-19 year olds in the area. A mission statement
is a statement which declares the purpose of a business and the reason
for why the business is there. A mission statement helps to provide the
context for any strategic decisions the business makes. For HSFC,
whenever the plan on making any decisions they will have to refer back to
, Xhuljan Vuthaj Paul Barker
the mission statement to see how the decision will help push them to
achieving this mission.
HSFC Strategic Objectives
A strategic objective is the objective that a business must achieve to
make its strategy a success. HSFC have set out objective which they
believe will help the business in its direction to achieving its mission
statement.
“
1. To provide an outstanding values-based education through the consistent pursuit of
our educational objectives.
2. To maximise the use of the College site ensuring the creation of a safe, healthy &
sustainable environment providing excellent learning for the maximum number of
young people.
3. To effectively manage College finances in order to preserve the health of the college
and prioritise investment in Teaching & Learning
“
These objectives are like the stepping stone to on the pathway to
becoming the best provider of education to 16-19 year olds in the area.
HSFC Finance
Finance plays a huge role in the success of any organisation. With the
right financing any business can achieve its aims and objectives and no
different to HSFC. HSFC are a government funded educational provider. So
the money which HSFC get to spend to pay wages and to pay for the
facilities all comes from the government.
HSFC had financial objectives as well which it believes will help them use
their funds more efficiently. Having financial objectives can help the
business save money and also help identify where money is being spent
on too much and where more investment is needed.
to maintain historic cost surpluses each year
to maintain cash days of 30 or more at all times
to have a general reserve of 25% of income
To keep staff costs below 71% of the funding body recurrent grant.
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