How Businesses Operates Regent College Level 4

TASK 1 (Covered in PPT)

1.1 Types of firms

1.2 Structure of businesses and reasons

1.3 Impact of local, national and international effect on Aldi

TASK 2

2.1 Importance of accounting for business

Business runs to earn profit but there is requirement to proper funds to achieve targets (Håkansson  and Ford, 2002)

It is essential that company has to adopt proper planning so they can give correct ideas to workers. It is essential that management of ALDI has to perform activities through which company can perform activities in better and effective way. Accounting means to show financial status of company. It is essential that company has to make policies which give correct and appropriate way to give correct information to stakeholders. Through proper allocation company is able to competent with external parties of company and it helps in increasing faith and trust of workers as well as consumer. Accounting helps in proper delivery of information in better and effective way. Accounting tells about revenue and expenses of any project. It is effective with proper assistance of legal body.

5.1 Functions of HR

HR are in ALDI plays vital role in performing help to company. It is essential to give chance to workers through which they can achieve targets in proper and effective way. There are many workers to achieve targets of company and there is difference in their perception so it is essential that company has HR manager through which they can achieve targets. To increase profit it is essential that employees must be motivated, to give their best. Functions of HR are as follows-

            Motivation- There is requirement of proper targets which helps to achieve goals and objectives in better way. Manager has to analyse external factors and deliver them to employees sop they came to know about change in forces. Motivation of employees is necessary so they can perform actions in best way.

            Compensation and remuneration- There is requirement of proper compensation which help in performing activities in better manner. Employees work in organisation to earn money. It is responsibility of HR manager to give proper pay so it helps in performing activities in better way. Remuneration must be on time so it improves morale of employees. It is effective for improvement of condition of company (Chesbrough, 2006)

            Performance appraisal- There is change in performing of workers. It is essential to give chance to workers by saying performing good helps in getting good. There is difference in need of employees so it is essential to analyse need and then take corrective actions. Performance appraisal is important through which they can motivate workers (Day and Tinney, 1968)

5.2 Key features of employee legislation

ALDI is an organisation which deals with society to perform activities. It is important to provide feeling of safety, through which they can feel safety at their work place. It is essential that company has to perform activities in way which is effective for company's growth. With these laws there is fear in the mind of company also, they perform with full efficiency and effectiveness ( Kahaner,  1997)

There are many laws such as equal remuneration act, employment act, discrimination act, etc. which help in creating activities in better way. ALDI has many workers so they have to apply changes in business and it is essential to avoid government interference. There is requirement of legal body which operate and amend changes in effective way. In case of changes taking place in government policies then ALDI has to modify policies.

TASK 3

3.1 Accounting information

ALDI has to prefer proper books of accounts through which they can perform activities in way through which they can achieve targets in better and effective way. Income statement for 2000-01 of ALDI is as under-

INTERPRETATION-

Frond the above income statement it is clear that company has to perform activities in more effective way through which they have good image in market. ALDI has good image in market so it is easy for them to raise funds from market. These days research and development department has main role because of competitions so it is essential that company must give emphasise on it (Qualman, 2010)

TASK 4

4.1 Determination of role of team work

There are many activities in company which work to achieve targets. It is essential that management of ALDI must give emphasise on time work. Team work means two or more people working for same targets in same environment. As per change in policies there is requirement of guidance which help in achieving targets on time. Team has people which help in achieving targets in better way. Organisation has to guide workers through which they can perform actions in better way. It is essential that management of ALDI must frame teams through which they can achieve targets in better way. ALDI has to develop strategies through which they can perform activities in way (Casadesus-Masanell, and Ricart, , 2010)

There are many workers and they achieve their own skills and knowledge through which they can perform activities in better and effective way. Organisation has to work as per external environment of business, so it is essential to work in team so targets can be achieved in effective and efficient manner. Through team, members are assign some job responsibilities with some power which is important. It is essential to give some knowledge about subject so it is fruitful for the growth of company. It is essential to analyse market and then taker actions through which they can enhance their knowledge. When employees work in tame there is feeling of competition so actions are more effective. There are possibilities that manager has to keep eyes on working styles so it is fruitful in competing with external parties.

4.2 Stages of team development

Various stages of team development used by Aldi are:

Forming: In this stage staff members can familiarise with the manager of firm.

Storming: In this step staff members can have responsibility towards tasks. Safer members can be out of comfort zone and other remaining can emerge it.

Norming: Employees can perform together and they understand each other views and thoughts.

Performing: In this step leader have no authority to take decisions. They only check performance.

By performing all stages Aldi can create effective and efficient team. It results in good work and good performance of firm.

4.3 Three motivational theories

Different motivational theories are:

Hertzberg motivational theory: First is X factor theory which fulfils monetary needs and Y factor can increase motivational and satisfaction level of staff members (KoçoÄŸlu, , Akgun,  and Keskin,  2017).

Maslow’s theory: 5 levels are there. First is psychological which can meet basic needs. Second is safety through which keep employees safer from any threat (Wang,  Guo, and Liu,  2017). Third is love which helps in maintaining friendly environment among all employees. Fourth is self esteem in which staff members are recognized in front of all employees in seminars and are given certificates for their  good performance.  Fifth is self actualization in which accomplishments and potential is recognized by person.

4.4 Types of leadership styles

Different leadership styles followed by Aldi are:

Democratic: It is leadership in which leader receives feedback from staff members also. Leader cannot bind  their own decisions.

Transactional leadership styles: In this style leader has set various objectives and vision for firm. Leader motivate and guide members so that they can complete their tasks. Through this they can perform better and can give superior results.

TASK 5 (Covered in PPT)

6.1 Impact of  user service on success

6.2 Benefits of customer profiling to business

CONCLUSION

Business scanning is very crucial for company. Through this it can increase the profits and can enhance market share. Firm can also maintain strong position in minds of all users and in market. Types of firm include sole  proprietorship, partnership etc. Accounting is crucial fort company. Accounting data is crucial for firm. Team work is crucial for firm.

REFERENCES

• Macaulay, S., 2018. Non-contractual relations in business: A preliminary study. In The Law and Society Canon (pp. 155-167). Routledge.
• Laszlo, C. and Cescau, P., 2017. Sustainable value: How the world's leading companies are doing well by doing good. Routledge.
• Grayson, D., McLaren, M. and Spitzeck, H., 2017. Social intrapreneurism and all that jazz: How business innovators are helping to build a more sustainable world. Routledge.
• English, J., 2006. How to organise & operate a small business in Australia. Allen & Unwin.
• Håkansson, H. and Ford, D., 2002. How should companies interact in business networks?. Journal of business research 55(2). pp.133-139.
• Chesbrough, H., 2006. Open business models: How to thrive in the new innovation landscape. Harvard Business Press.
• Day, R. H. and Tinney, E .H., 1968. How to co-operate in business without really trying: a learning model of decentralized decision making. Journal of political Economy, 76(4, Part 1), pp.583-600.
• Kahaner, L., 1997. Competitive intelligence: how to gather analyze and use information to move your business to the top. Simon and Schuster.
• Qualman, E., 2010. Socialnomics: How social media transforms the way we live and do business. John Wiley & Sons.
• Casadesus-Masanell, R. and Ricart, J.E., 2010. From strategy to business models and onto tactics. Long range planning. 43(2-3). pp.195-215.
• KoçoÄŸlu, Ä°., Akgun, A. E. and Keskin, H., 2017. The Role of Business Model Development in the Ex-Post Creation of Online Entrepreneurial Opportunity. In Key Challenges and Opportunities in Web Entrepreneurship (pp. 1-32). IGI Global.
• Wang, D., Guo, H. and Liu, L., 2017. One goal, two paths: How managerial ties impact business model innovation in a transition economy. Journal of Organizational Change Management. 30(5). pp.779-796.

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