Essay
mne3701 ASSIGNMENT 6 2023
- Institution
- University Of South Africa (Unisa)
mne3701 ASSIGNMENT 6 2023
[Show more]
Content preview
BMZ ACADEMYBMZ ACADEMY
@061 262 1185/068 053 8213/0717 513 144
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
, BMZ ACADEMY
1. Discuss how the owner of the small business you have visited, manages the
business’s human resources. Do you think is there a need for improvement? If
yes, provide recommendations for improvement. (15)
A sound business plan is key to keeping the small-business owner in touch with all
areas of his or her business (Webb, et al., 2020). Hiring, training, and managing
employees is another important responsibility because the owner’s role may change
over time. As the company grows, others will make many of the day-to-day decisions
while the owner focuses on managing employees and planning for the firm’s long-term
success. The owner must constantly evaluate company performance and policies in
light of changing market and economic conditions and develop new policies as
required. They must also nurture a continual flow of ideas to keep the business
growing. The types of employees needed may change too as the firm grows. For
instance, a larger firm may need more managerial talent and technical expertise.
Hiring system
Attracting good employees is more difficult for a small firm, which may not be able to
match the higher salaries, better benefits, and advancement potential offered by larger
firms. Small companies need to be creative to attract the right employees and convince
applicants to join their firm (Ostrom, 2020). Once they hire an employee, small-
business owners must make employee satisfaction a top priority in order to retain good
people. A company culture that nurtures a comfortable environment for workers,
flexible hours, employee benefit programs, opportunities to help make decisions, and
a share in profits and ownership are some ways to do this.
Recommendations for improvement
Training and developing employees
The training and development process starts the moment the employee has been
recruited. Any training process needs to help the employee to perform and achieve set
objectives in the workplace (Shaher & Ali, 2020). Employee training refers to planned
efforts to help workers master the knowledge, skills and behaviour that they need to
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BMZAcademy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R80,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82871 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now