Assignment Business Resources ND Unit 2 by Masuma Begum

8/9/2019 Assignment Business Resources ND Unit 2 by Masuma Begum

1/19

Assignment on

Business Resources

Course: Business Resources

Unit:2

Program: ND Business

School: Business

Institute: BAC

Contents

Task 1 (P1): Describe the Recruitment Documentation Used in a Selected Organization.....................3

1. T!es o" Sta"" #!!ointed..........................................................................................3

$. Recruitment Procedure.............................................................................................3

Presented b:

!asuma Begum

ID: 2"#$22%"#&

Presented to:

!s. Ismat 'ahan

(acult) School o* Business


2/19

Task $ (P$): Describe the %ain &m!loabilit' Personal and ommunication Skills reuired *hen

a!!ling "or a S!eci"ic +ob Role..........................................................................................&

1. &m!loabilit Skills................................................................................................&

$. Personal Skills....................................................................................................... +

Task , (P,): Describe the %ain Phsical and Technological Resources Reuired in the O!eration o" aSelected Organization..................................................................................................... #"

1. Phsical Resources...............................................................................................#"

$. Technological Resources........................................................................................#2

Task - (P-): Describe Sources o" nternal and &/ternal 0inance "or a Selected usiness....................#$

1. nternal Sources................................................................................................... #$

$. &/ternal Sources..................................................................................................#$

Task - (P2): llustrate the Use o" udgets as a %eans o" &/ercising 0inancial ontrol o" an Organization

................................................................................................................................. #&1. udgets............................................................................................................. #&

$. reak3&4en......................................................................................................... #&

,. 0i/ing udget 5a!s.............................................................................................. #+

-. 6orking a!ital...................................................................................................#+

ibliogra!h................................................................................................................ #,

Task 1 (P1): Describe the Recruitment Documentation Used in a Selected

Organization

7akehead 5rammar School is an &nglish medium institution *hich teaches students "rom

Plagrou! till #37e4els. The school' *hile ensuring to !ro4ide ualit education' "ocuses on

slamic 4alues as an essential element in its !edagog.

1. T!es o" Sta"" #!!ointed

7akehead 5rammar School a!!oints teachers and administration sta"" "or the running o" the

school.


3/19

Teachers a!!ointed include:

Teaching #ssistants "or classes Plagrou! till lass 8.

0ull time and !art time Senior Teachers "or classes 8 till # 7e4els.

Teaching #ssistants need not ha4e an uni4ersit degrees *ith concentrations in core sub9ects

such as angla' &nglish' Science and %athematics. Senior teachers need to "ul"ill the criteria o"

ha4ing at least a achelors Degree in an o" the core s!ecialization sub9ect areas "rom re!uted

uni4ersities to "ill teaching !ositions in the schools.

#dministration sta"" includes:

Peons.

#as.

#ccountants.

Securit 5uards.

%ost sta"" does not need an uali"ication higher than a igher Secondar Degree. Onl the

#ccountants need some sort o" s!ecialized Undergraduate Degree deri4ed "rom an Uni4ersit

or ollege.

$. Recruitment Procedure

7akehead 5rammar School recruits teachers through ad4ertised 9ob !ostings on internet based9ob sites such as bd9obs.com and 9obsa1.com as *ell as ad4ertisements in local &nglish and

angla ;e*s!a!ers such as The Dail Star and The Dail Prothom #lo. The teaching candidates

send their < through the 9ob sites or !hsicall deli4er them to the school !remises.

#"ter e4aluation o" the


4/19


5/19

= %eet academic reuirements related to e/ams' communicate *ith !arents and !er"orm other

duties and res!onsibilities as the !osition reuires.

Salar Range:;egotiable

Other ene"its:

= 6orking en4ironment that is challenging' "riendl and !ro4ides an o!!ortunit "or career and

!ersonal de4elo!ment.

= nset training *ith trainers "rom home and abroad.

%ob *ocation: Dhaka

*ast Date o" #!!lication: $,3Se!3$?11

#"ter the candidate has been selected "or the teaching !osition' the candidate has to sign an

em!loment contract to "inall acce!t the 9ob. #n em!loment contract is a legal agreement

bet*een the em!loer and the em!loee. #ll o" the essentials o" a 9ob such as salar and *orking

hours are made clear in the contract. The em!loment contract has certain terms in it (T& ;D

Unit $ usiness Resources' n.d.). These are:

Express Terms

&/!ress terms are the main !art o" the indi4idual contract and *ill ha4e been discussed in the

inter4ie* and con"irmed in *riting.

Implied Terms

Pro4isions that are not included as *ritten terms as the are understood to be included

automaticall. These include terms such as the right to eual !a and the right to not su""er an

sort o" discrimination.

# t!ical 9ob contract o" 7akehead 5rammar School is as "ollo*s:

1. The designation being gi4en to the teacher (!art time or "ull time) as *ell as the !rime

res!onsibilit o" the candidate.$. 7ength o" a!!ointment the contract is e""ecti4e.

,. The line management as in *ho the teacher *ill be re!orting to.

-. The amount o" salar to be recei4ed !er month.


6/19


7/19

7e4el graduates "or a 9ob i" it is a 4er sim!listic one but s!ecialist !ro"essional 9obs such as

marketing' accounting' la*' consulting *ill need s!ecialized uni4ersit degrees to suit the

9obCs needs.

Experience in a Similar Role &/!erience in a similar role can be im!ortant "or man 9ob !ositions *here the em!loers

*ould *ant someone *ith !re4ious e/!erience to "ill u! the !osition ad4ertised. " the

candidate can sho*case such e/!erience' the em!loer can be sure that the candidate can do

the same 9ob in the em!loerCs organization. 6riting about !ast e/!eriences in < hel!s

boost 4isibilit in em!loerCs ees.

Knowledge of Products and Services

Product and ser4ice kno*ledge is immensel needed *hen *orking in a customer ser4icerole. # !erson *ho has kno*ledge o" !roducts and ser4ices related to *hat the business

deli4ers *ill ha4e high chances o" landing the 9ob.

Experience of Specific Industry

" one has *orked in an industr and has good kno*ledgeable e/!erience in the industr' it

*ill be considered as a !lus !oint "or an em!loer. &/!erience o" a !articular industrial sector

is 4alued b em!loers as em!loees can gi4e them ti!s' hints and in"ormation that can be

used to im!ro4e the business. &m!loers can also gain kno*ledge about com!etitors through

hiring the com!etitorCs em!loees.

Effectiveness in Meeting Personal and Team Targets

&m!loees should be able to meet desired targets. " one can demonstrate such abilit' the

em!loer could be inclined to gi4e the !erson the 9ob. " one has "ul"illed set targets in

!re4ious organizations' this *ill be hel!"ul to the o*ner as s>he *ill be sure that the current

organizationCs needs *ill be "ul"illed as *ell.

bility to !bserve and Raise Professional Standards

#n em!loee *ho is able to *ork according to organization standards as *ell hel! in

im!ro4ing them *ill be 4alued b the em!loer. &m!loers look "or !eo!le *ith high


8/19

!ro"essional standards. &m!loees need to understand *hat these standards are and *ork in

that manner.

$. Personal Skills

ertain skills *ill be bene"icial to a !erson regardless o" *hat 9ob or career s>he ma choose.

Patient and "ard #or$ing

Patience is needed in 4arious 9obs es!eciall ones those deal *ill the !ublic. Peo!le *ho can

remain !atient in tough situations and get the 9ob done are to! choices "or em!loers. eing

!atient is not eas but it !as o"" in the long run as it is better to consider decisions and their

outcomes and then choose the best one. Peo!le *ho get *ork done and do not *aste !recious

time o" the organization are e/tremel 4alued b em!loers. Distractions ma occur but the

are to be a4oided.

Team #or$er

eing a team *orker is im!ortant as an organization *ill be "ull o" em!loees *ho *ill need

to collaborate *ith each other on 4arious !ro9ects. " one cannot blend *ell or *ork *ith

others then ho*e4er the !erson is indi4iduall the organization *ill ultimatel ha4e limited

use o" the !erson.

Interpersonal S$ills

nter!ersonal skills hel! !eo!le to talk and mi/ *ith other !eo!le and !romote good !ositi4e

relationshi!s in the *ork!lace. This hel!s to get the 9ob done more easil. Some are naturall

good at this *hile others ha4e to learn as this hel!s anone to im!ro4e their career. This skill

makes one more highlighted in the organization and hel!s get high !riorit *ith the authorit.

%o&operation 6orkers in an organization are e/!ected to coo!erate together rather than creating a ruckus.

;on co3o!eration bet*een em!loees can *aste em!loeesC time and energ as *ell as the

organizationCs.

'egotiation


9/19

&m!loees need to ha4e the art o" negotiation learnt in order to create an im!act in the

organization. ;egotiation in4ol4es coming into a common ground regarding a to!ic that both

!arties can agree to. This hel!s to create a *in3*in situation "or all. This can reduce con"licts

bet*een em!loees as *ell as bet*een em!loees and em!loers. ;egotiation can be good

"or em!loees i" the *ant !a raises or better *orking conditions. ;egotiation is im!ortant

*hen agreeing to targets because target ma seem too high and be not achie4able or be too

lo* and ma not be *orth !ursuing. This needs to be talked bet*een em!loees and

managers.

Interviewing S$ills

nter4ie*ing ma come in hand in a lot o" di""erent situations. " one can inter4ie*

customers correctl then one can understand the customerCs needs and "ul"ill them b the

organizationCs !roducts and ser4ice and increase the market !osition o" the organization. The

em!loee can in the "uture use inter4ie*ing to select !otential em!loees or e4aluate current

sta""s.

Task / (P/): Describe the +ain Phsical and Technological ResourcesRe'uired in the O!eration o" a Selected Organization

1. Phsical Resources

Phsical resources are resources that a business needs in order to o!erate smoothl. Such

resources include buildings' "acilities' machineries etc. (T& ;D Unit $ usiness

Resources' n.d.)

(uildings and )acilities usinesses need !remises to o!erate. uildings can !la an im!ortant role in the image o" a

business to bring in more customers. 6hen customers enter the building' "acilities need to be

arranged "or them such as *aiting rooms. anks o"ten ha4e desks or rooms *here clients can

talk to an ad4iser about the bankCs !roducts and ser4ices.


10/19

0or man online businesses the a!!earance o" buildings does not matter as customers *ould

not be going to the buildings or *arehouses to bu the goods the goods *ill be sent "rom the

*arehouse to the customer.

The location o" buildings is im!ortant in regard to its distribution net*ork. usinesses *ho

*ant to be accessible to customers as much as !ossible *ill ha4e man di""erent locations "or

its !remises. usinesses *ho *ant to reduce costs *ill ha4e a centralized location "or its

distribution !oints.

Materials and #aste

%aterials needed b an organization *ill 4ar b the organizationCs t!e. # restaurant *ill

need ra* meat' "ish' 4egetables etc *hereas a shoe "actor *ill need rubber' leather etc.

Some items that are used in the organization *ill be recclable *hile others *ill be not.

usinesses need to be care"ul about using materials e""icientl and minimizing *aste. This

*ould cut costs and increase !ro"its.

Plant and Mac*inery

&4er business needs s!ecialized !lant and machiner suitable "or o!erations. usinesses

ma ha4e the o!tion o" leasing machiner rather than buing it. This *ould de!end on *hich

o!tion *ould reduce o4erall costs and increase "uture returns.

E+uipment including IT

&ui!ment is essential "or smooth o!eration o" business. 7ack o" eui!ment ma mean that a

9ob cannot be done. # mo4ie theater *ithout "unctioning seats *ould not attract mo4ie goers.

%an organizations include T *ith their list o" essential eui!ment. T ma com!rise o"

both hard*are (7a!to! com!uter) and so"t*are (O!erating Sstem).

Planned Maintenance and Refurbis*ment

#ll resources need regular maintenance. " maintenance does not take !lace' machines ma

break do*n resulting in lost sales. uilding maintenance is needed is needed to kee!

buildings clean and sa"e. Re"urbishment occurs *hen a business gi4es ne* look to its o""ice

or stores. Re"urbishment ma im!ro4e *orking en4ironment and im!ro4e *orker morale.


11/19


12/19


13/19


14/19

%apital from Profits

Pro"its obtained "rom o!eration can be !loughed back into the business. This hel!s the

business to gro* and earn e4en more !ro"its. o* much !ro"it *ill be rein4ested into the

business *ill de!end on the o*nerCs !ers!ecti4e and ho* much the *ant the business to

gro*. Retained !ro"its do not carr an interest but ma be limited to the amount o" !ro"it

created b the business.

$. &ternal Sources

&/ternal sources o" "inance are "unds *hich are gathered "rom outside the business.

(an$s

anks !ro4ide loans' accounts' mortgages and o4erdra"t "acilities "or businesses to "acilitate

o!erations. Some sort o" securit needs to be !ro4ided in order to obtain loans. #n sort o"

loan obtained "rom bank carries interest *hich needs to be !ro4ided under an circumstance.

ank loans are eas to obtain and the interest rate ma be lo* i" !ro!er documents can be

!ro4ided and the business is sa"e to in4est in.

(uilding Societies

uilding societies !er"orm the 9ob o" banks as in the !ro4ide loans' mortgages and

o4erdra"ts. nterest is !aable on these loans and is based on the risk o" the 4enture. Some

sort o" securit needs to be !ro4ided to obtain loans "rom building societies. uilding

societies !ro4ide loans to obtain housing. 7oan interest ma be high and conditions ma be

strict in order to gain membershi! and access to loan.

"ire Purc*ase

ire !urchase enables a business to use a !roduct *ithout !aing the "ull amount o" mone

be"orehand. # do*n !ament is gi4en to a "inancing com!an to bu the !roduct and the rest

o" the mone is !ro4ided b the "inancing com!an *hich can be re!aid to them through

installments. O*nershi! is not trans"erred to the business until the last installment has been

!aid. nstallments can be !aid easil as their small and monthl although the total o"


15/19

installments ma be uite higher than the actual !rice o" the !roduct. " an o" the

installments are missed then the "inancing com!an *ill take a*a the !roduct.

,easing

7easing is used b businesses *hen the *ant to use a !roduct *ithout o*ning it. The

!roduct is gi4en to the business "or use "or a certain !eriod and a"ter the !eriod is o4er the

!roduct is sent back to the leasing com!an. 7easing is bene"icial *hen a business *ants to

make use o" a !roduct *ithout actuall o*ning it. Paments are made in installments *hich

are a""ordable to the business but the o4erall amount o" total installments ma be higher than

the actual cost o" the !roduct.

.enture %apitalists


16/19

need not be !aid back. ut !ro"it is decreased as !art o" the !ro"it is gi4en back to the

shareholders through di4idends. There are also issuing cost o" shares *hich ma be large

enough to o""set the amount o" ca!ital raised. " ma9orit o" shares are o*ned b the !ublic'

then control o" the com!an *ould be lost "rom the original "ounders or o*ners o" the

com!an.

)amily and )riends

7imited amount o" mone can be taken as loans "rom "riends and "amil i" needed. nterest

need not be gi4en or ma be lo* in rate. There is no time duration normall in4ol4ed in

!aing back o" mone but relationshi!s can turn sour i" mone is not returned.

0overnment 0rants

5rants are gi4en b go4ernments to entre!reneurs *hich do not need to be !aid back. There

are no costs in4ol4ed in getting grants but there are certain restrictions and la*s im!osed "or

getting grants. ;ot e4er organization is eligible "or grants and has man com!etitors

a!!ling "or it.

Task 0 (P3): llustrate the Use o" udgets as a +eans o" &ercising

2inancial -ontrol o" an Organization

1. udgets

ost management is an im!ortant element o" an organization as decreasing or maintaining

costs increases cash as *ell as !ro"it. " costs are not managed' then !ro"its decrease and the

business ma not be able to !a these costs. udgets hel! in cost management because

budgets act out as "orecasts o" out"lo*s and in"lo*s o" mone. " it is kno*n uite accuratel

at *hat time *hat mone is coming into and going out o" the business' the business cana!!ro!riatel "i/ its "unds so that mone is a4ailable "or e/!enses as *ell as mone is

manage e""icientl *ithout an !ossible disturbances. (T& ;D Unit $ usiness

Resources' n.d.)


17/19

udgeting is based on assum!tions on ho* much *ill be s!ent in a gi4en area in the "uture.

Some de!artments use zero budgeting *here no budget is created be"orehand and managers

are asked "or mone based on *hat the belie4e *ould be needed "or the ear. On the other

hand' allocated budgeting in4ol4es mone being allocated according to de!artment size.

udget is created be"orehand and it is seen that each de!artment is sticking to its "orecasts. "

sales are higher than e/!ected' then it is good but i" e/!enses are high than e/!ected then it

lo*ers do*n !ro"its.


18/19

dail e/!enses. 6orking ca!ital ma be large or small' !ositi4e or negati4e de!ending on

business decisions about o!erations. (T& ;D Unit $ usiness Resources' n.d.)

usinesses ma ha4e long credit e/tensions "or debtors *hich might bring in cash late into

the business *here in the mean time e/!enses build u! *hich need to be !aid. Or businesses

might need to !a mone earl to their creditors e4en be"ore sales ha4e been made. These

kinds o" situations a""ect the stabilit o" *orking ca!ital and thus liuidit o" businesses. The

better the liuidit' the easier it *ould be "or businesses to ha4e cash read to !a o"" their

e/!enses and debts.

a4ing a health ca!ital is thus o" urgenc "or businesses and ob9ecti4es need to be made in

the budgetar !lanning in the earl stages to incor!orate reser4es "or *orking ca!ital in case

it is lo* in the long run. #n emergenc budget can be done in such regard as it is o"ten

di""icult to make accurate budget "orecasts and business situations ma change an time "or

the *orse.

ibliogra!h

Richard . T& 7e4el , usiness Student ook 1 (Pearson3$??B) PP(2?3@$)

hakrimela.com' (n.d.). Lakehead Grammar School (Dhanmondi/ Banani branch). EonlineF

#4ailable at: htt!:>>***.chakrimela.com>9obdetails.!h!G9obidH81,,@ E#ccessed 1A #ug.

$?1-F.


19/19

Documents

Assignment Business Resources ND Unit 2 by Masuma Begum