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INTRODUCTION

To execute all business operations in an effective manner and to achieve its set goals it is very essential for a firm to first identify and examine the factors exist in business environment. All this support in take better decision and at the same time ensure optimum utilisation of all available resources and funds (Baden-Fuller and Morgan,  2010). Political, legal, economic and technological are the major elements. LIDL, a discount supermarket chain that deal in various type of products is taken under this report for study. Different functions perform by HR department of an organisation is given in this report. Further, use of various leadership styles in different situation is all mentioned in this.

TASK 1

Covered in PPT

TASK 2

2.1 Significance of accounting for business success

            A business enterprise is small, medium or large, accounting play a significant role in every type of business. One of the main feature of this is that it provide relevant information to managers that help in take right business decision and contribute more in growth of business. Mainly this concept provide information related with financial statement of business such as balance sheet, income statement, profit and loss account and many more (Carroll and Shabana,  2010). This help in identify the areas in which business spent more money and at the same time provide ways to reduce expenses. This help manager in manage all the funds which ensure completion of business activities in time. Further this suggest the areas in which firm should invest for get maximum return.

5.1 Various functions perform by human resource department

            Various departments are there that work in an enterprise and perform various functions which help firm in achieve its set goals and objectives. Form all department human resource department is known as one of the most significant one as HR manager is the one which undertake process of recruitment and selection. For hire right candidate for  right job manager take help of job description and specification. Further, this department is the one which provide induction programme to new employees and at the same time conduct training and development program for workers which help  them in perform their roles and responsibilities in an effective manner. One of the other major function perform by manager  of this department is formulation of compensation packages for employees.

5.2 Major features of employment legislation

            Employment legislation is known as a mix of various rules, regulations and laws that define the role between employee and employer of an enterprise and at the same time reveal the basic facilities and services that should be offer to the workers at workplace. Various components of employment legislation define the minimum wage that should be offer to every employee  for fulfil the basic and routine needs of life (Casadesus-Masanell and Ricart, 2011). Further this define the minimum working hours, safety and healthy measures that should be offer to every employees working in enterprise. Employment legislation focus that there should be no discrimination at workplace  and fair treatment and equal growth opportunities should be offer to every worker. This enhance employee's morale and at the same time increase their productivity. 

TASK 3

3.1 Interpretation of information consists in profit and loss account

Profit and loss Account of LIDL (2017)

Revenue

2017

Total Revenue

31907000

Cost of Revenue

29919000

Gross Profit

1988000

Operating Expenses

 

Research Development

-

Selling General and Administrative

1207000

Operating Income or Loss

781000

Income from Continuing Operations

 

Total Other Income/Expenses Net

41000

Earnings Before Interest and Taxes

777000

Interest Expense

165000

Income Before Tax

612000

Income Tax Expense

153000

Net Income From Continuing Ops

414000

Non-recurring Events

 

Net Income

 

Net Income

459000

Preferred Stock And Other Adjustments

-

Net Income Applicable To Common Shares

459000

TASK 4

4.1 Analysis for identify roles of others and own in a team

            Teams play a big role in growth and success of firm. One of the main benefit of working in a team is that it enhance creativity of team members and at the same time ensure optimum utilisation of all business resources. During working in a team my responsibility is to manage the activities of whole team and at the same time ensure that every team member is performing his roles and responsibilities in an effective manner. For attain set goals and objectives I monitor the perform of every team member and this help me in identify strong and weak point of every team member. After analyse the performance of every team members I suggest them the path through which they can contribute more in success of team.

4.2 Notes used to support training events

            Working of teams in effective manner provide so many benefits to an enterprise. One of the main feature of this is that it ensure optimum utilisation of all  company's funds and help in achieve desired outcomes (Eccles and Krzus,  2010). Following are the major steps involve in development of team:

  • Forming: This is the first step involve in the process of team development. In this orientation program is require as this help leader in understand the behaviour and team members.
  • Storming: This is the second step, under this every team member perform the roles assign to them and various arguments or differences take place in this phase due to which various firms fail to develop a effective team.
  • Norming: Interaction among team members is take place in this stage and they try to resolve the problems.
  • Performing: This is the last step involve in the process of team development, in this every member perform, their roles and responsibilities for complete the assign project.

4.3 Use  different leadership styles in different situations

  • McClelland's need theory: This motivation theory is classified into three factors known as achievement, affiliation and power. Under this five categories of maslow's needs is divided into three.
  • Maslow's need hierarchy theory: This is one of the most effective and popular theory of motivation. Various enterprises use this in order to encourage employees for perform well at workplace (Prno and Slocombe, 2012). Under this needs of an individual are classified into five categories known as physiological needs, safety needs, social, esteem needs and self actualisation.

            Various leadership styles are there that can be use by leader of LIDL for motivate employees to work well. One of the major aspect that require to be consider by leader is situation exist in organisation.

4.4 Use of motivational theories to encourage workers

            Various motivational theories are there that can be use by enterprises for motivate or encourage staff members to perform their job roles in an effective way and and to contribute more in success of firm (Welford, 2013). Maslow's needs hierarchy theory is an effective motivation theory that can be use by LIDL for motivate employees to work well. With this firm can increase its profitability and at the same time can serve its customers in a better way. 

TASK 5

Covered in PPT

CONCLUSION

From the given project report, it can be summarised that various leadership styles are there that should be use by leaders as per the situation exist in enterprise. This help in motivate employees in a better way and at the same time support in achieve set goals.

REFERENCES

  • Baden-Fuller, C. and Morgan, M. S., 2010. Business models as models. Long range planning.  43(2-3). pp.156-171.
  • Carroll, A .B. and Shabana, K. M., 2010. The business case for corporate social responsibility: A review of concepts, research and practice. International journal of management reviews.  12(1). pp.85-105.
  • Casadesus-Masanell, R. and Ricart, J. E., 2011. How to design a winning business model. Harvard business review. 89(1/2). pp.100-107.
  • Eccles, R. G. and Krzus, M. P., 2010. Integrated reporting for a sustainable strategy: One Report has the potential to significantly change how companies operate and investors think, shifting the focus from that of meeting short-term financial goals to developing a long-term business strategy that not only makes a commitment to corporate social responsibility, but also to a sustainable society. Financial executive. 26(2). pp.28-33.
  • Prno, J. and Slocombe, D. S., 2012. Exploring the origins of ‘social license to operate’in the mining sector: Perspectives from governance and sustainability theories. Resources Policy. 37(3). pp.346-357.
  • Welford, R., 2013. Hijacking environmentalism: Corporate responses to sustainable development. Routledge.