LECTURER:JUDITH ROBB-WALTERS

UNIT 40: BUSINESS WORK EXPEREINCE

UNIT 40: BUSINESS WORK EXPEREINCE

LEARNING OUTCOME 1: UNDERSTAND WAYS TO ARRANGE APPROPRIATE INDUSTRY EXPERIENCE

1. Understand ways to arrange appropriate industry experience.

2. Be able to agree aims and objectives of work-based project with others.

3.Be able to monitor and evaluate progress of work-based project.

4. Be able to present report on work-based project.

THE BASIC SYLLABUS

Understand ways to arrange appropriate industry experience

At the end of the class the students should be able to:AC 1.3 Explain how the industry experience would support the

development of an appropriate management report.

LEARNING OUTCOMES

The Greek philosopher Socrates said "In the world of knowledge the idea of the good appears last of all, and is seen only with effort". Business analysts must have the audacity to seek out the good of a project using thought and effort to find the real business goals early on.

A business context model needs to express the current business problem and to propose the goodness and scope of a project.

OVERVIEW

The finance sector lures away high-skilled workers from other industries. The finance sector then lends the money to businesses, but tends to favour those firms that have collateral they can pledge against the loan. This usually means builders and property developers. Businessmen are lured into this sector rather than into riskier projects that require high R&D spending and have less collateral to pledge.

FINANCE

The financial sector is all the wholesale, retail, formal and informal institutions in an economy offering financial services to consumers, businesses and other financial institutions. In its broadest definition, it includes everything from banks, stock exchanges, and insurers, to credit unions, microfinance institutions and money lenders.

FINANCE

The Banking Industry at its core provides access to credit. In the lenders case, this includes access to their own savings and investments, and interest payments on those amounts. In the case of borrowers, it includes access to loans for the creditworthy, at a competitive interest rate.

BANKING

Banking services include transactional services, such as verification of account details, account balance details and the transfer of funds, as well as advisory services, that help individuals and institutions to properly plan and manage their finances. Online banking channels have become key in the last 10 years.

BANKING

Business law deals with the creation of new businesses and the issues that arise as existing businesses interact with the public, other companies, and the government. This area of the law draws on a variety of legal disciplines, including tax law, intellectual property, real estate, sales, employment law, bankruptcy, and others.

To understand the role of business law within the legal system, it helps to view businesses as entities separate from their owners and employees. Just like individuals living together in society, business entities are subject to legal rules designed to give every participant in the marketplace a fair opportunity to succeed.

An enforceable system of business laws also benefits the economy as a whole and provides for more efficient transactions

LAW

The art of getting employees together on a common platform and extracting the best out of them refers to effective organization management.

Management plays an important role in strengthening the bond amongst the employees and making them work together as a single unit. It is the management’s responsibility to ensure that employees are satisfied with their job responsibilities and eventually deliver their level best.

The management must understand its employees well and strive hard to fulfill their expectations for a stress free ambience at the workplace.

MANAGEMENT

The open systems view of HRM has been developed further by Wright & Snell (1991), who used it to describe a competence management model of organizations. Skills and abilities are treated as inputs from the environment; employee behaviours are treated as throughput; and employee satisfaction and performance are treated as outputs. In this model, the HRM subsystem functions to acquire, utilize, retain, and displace competencies.

Similarly, Snell's (1992) description of HRM as a control system is based inopen systems theory. In a more narrow discussion, Kozlowski & Salas

(1994)presented a multilevel organizational systems approach for understanding

training implementation and transfer.

HUMAN RESOURCES

Marketing is everything a company does to acquire customers and maintain a relationship with them. Even the small tasks like writing thank-you letters, playing golf with a prospective client, returning calls promptly and meeting with a past client for coffee can be thought of as marketing. The ultimate goal of marketing is to match a company's products and services to the people who need and want them, thereby ensure profitability.

MARKETING

A company which provides goods or services to a local population. Though most often used when referring to a locally-owned business, the term may also be used to describe a franchise or corporate branch operating within a local area.

LOCAL BUSINESS

This is where a small local business may set up their main operation in one main location and have other branches operating throughout the country.

NATIONAL BUSINESS

A global company is one that operates in two or more countries around the world. Often, this term is used describe companies that operate in multiple countries across continental borders. A global company is the opposite of a domestic business, which operates in only one country.

Global

Maxted, Suzanne, and Suzanne Maxted. "The Business Context Model; As Good As It Gets". Batimes.com. N.p., 2016. Web. 6 Jan. 2016.

The Economist,. "Warning: Too Much Finance Is Bad For The Economy". N.p., 2015. Web. 6 Jan. 2016.

The Importance Of Financial Sector Development For Growth And Poverty Reduction. 1st ed. Glasgow G75 8EA UK: DFID, 2016. Web. 6 Jan. 2016.

Economywatch.com,. "Banking Industry | Economy Watch". N.p., 2016. Web. 6 Jan. 2016.

BIBLIOGRAPHY

Hg.org,. N.p., 2016. Web. 6 Jan. 2016.

Jackson, Susan, and Randall Schuler. "UNDERSTANDING HUMAN RESOURCE MANAGEMENT IN THE CONTEXT OF ORGANIZATIONS AND THEIR ENVIRONMENTS". (2016): n. pag. Web. 6 Jan. 2016.

Managementstudyguide.com,. "Management Style - Meaning And Different Types Of Styles". N.p., 2016. Web. 6 Jan. 2016.

BIBLIOGRAPHY

. Investopedia,. "Marketing Definition | Investopedia". N.p., 2005. Web. 6 Jan. 2016.

BusinessDictionary.com,. "What Is Local Business? Definition And Meaning". N.p., 2016. Web. 6 Jan. 2016.

Kokemuller, Neil, "What Is A Global Company? | Ehow". eHow. N.p., 2015. Web. 6 Jan. 2016.

BIBLIOGRAPHY

Answers To All Types Of Questions | TypesOf.com,. "Types Of Business Sectors". N.p., 2013. Web. 6 Jan. 2016.

Worldbank.org,. "Financial Sector". N.p., 2016. Web. 6 Jan. 2016.

Quinn, Susan. Management Basics. 1st ed. Bookboon.com, 2016. Web. 6 Jan. 2016.

FURTHER READING LIST