Unit 2 Business Resources Assignment BTEC Level 3 (GC01236)

TABLE OF CONTENTS

BUSINESS RESOURCES

INTRODUCTION

P1 Describe the recruitment documentation used in a selected organization

P2 Describe the main employability, personal and communication skills required when applying for a specific job role

P3 Describe the main physical and technological resources required in the operation of a selected organization

P4 Describe sources of internal and external finance for a selected business

P5 Interpret the contents of a trading and profit and loss account and balance sheet for a selected company Asda

P6 Illustrate the use of budgets as a means of exercising financial control of a selected

P7 Illustrate the financial state of a given business

CONCLUSION

REFERENCES

INTRODUCTION

An economic or productive factor required to accomplish an activity, or as a means to undertake an enterprise and achieve the desired outcome. The three most basic resources are land, labor, and capital; other resources include energy, entrepreneurship, information, expertise, management, and time. In the current report, there are Asda business entity is chosen which dealing in the retail sector. It shows several kinds of skills as well as the physical and technological resources required in the form start and run the firm. Apart from this, it describes sources of internal and external finance as well as contents of a trading and profit and loss account and balance sheet for a selected Asda.

P1 Describe the recruitment documentation used in a selected organization

Job Description

A job description sets out the purpose of a job, where the job fits into the Asda structure, the main responsibilities of the job, and the key tasks to be performed. A job description will set out how an employee will fit into the organization. It will therefore need to set out: the title of the job to whom the employee is responsible for a simple description of the role and duties of the employee within the organization. A job description could be used as a job indicator for applicants for a job. Alternatively, it could be used as a guideline for an employee and/or his or her line manager as to his or her role and responsibility within the organization (Amess, Stiebale and Wright, 2016).

Person Specification

A person specification is a profile of the ideal candidate for the job. It enables potential candidates to determine whether they meet the required experience and qualifications. It also helps employees to identify requirements for the job. A person specification will help during interviews and it will also help to be used as a basis for staff development, appraisals, and promotions. The person specification details the necessary skills, qualifications, experience, or other attributes needed to carry out the job. Using the person specification throughout the recruitment and selection process will enable you to ensure that the best candidate is selected and that the legal obligations and best practice objectives of the University are complied with.

Application Form

An application form sets out information on a candidate in a standard format. It provides a structured basis or drawing up shortlists, the interview itself, and the following actions required in offering employment and in setting personnel records (Aquino and Gomez-Paloma, 2013).

P2 Describe the main employability, personal and communication skills required when applying for a specific job role

Employability skills

Employability skills can be defined as skills that a person needs to have to get a job and/or be effective in the job role he or she has. Such skills allow the employee or person to have a mutual and friendly relationship with colleagues or the manager thus if there are any problems that arise they will be resolved efficiently. There are many examples of employability skills that employees or people applying for jobs should possess which include; qualifications and experience that are directly linked to the job that is being applied (Wu and et.al., 2016).

Personal skills

Personal skills can be defined as skills that a person may possess but doesn’t necessarily need when applying for a specific job role. There are many examples of such skills that would benefit the business including; speaking different languages, trustworthy, and having a sense of humor. It is good if employees or applicants possess such sills when applying for a job as it will make them more likely to get the job as it shows the employer other skills that the employee/applicant have that can help the business: these skills are useful for a lot of different jobs.

Communication skills

Communication skills can be defined as skills that help a person convey information to another person efficiently and with ease. Managers or employees with good written or verbal communication skills will benefit the business; this is because they will be able to talk and understand each other properly (Weaver, 2014).

P3 Describe the main physical and technological resources required in the operation of a selected organization

Every business needs resources, whether it’s people, money, suppliers, or time. The physical resources include tangible items that are necessary and available for a business to function. These are items that take space, have a value, and are used in the operation of the Asda.

Physical resources

• Land, buildings, water and water rights
• Machinery and manufacturing equipment
• Vehicles and distribution networks
• IT equipment and hardware
• Point-of-sale systems
• Physical resources may be crucial depending on the nature of the industry.
• Physical resources typically require a significant outlay of capital.

Technological resources

• The most important resource of technology is people. Without them, no product would be formed, and no service would be delivered. Their innovative tools increase the end user’s convenience and drive development, construction, delivery, and purpose (Himme and Fischer, 2014).
• Information is also an important technological resource. The introduction of highly efficient technological devices has resulted in increased information sharing across the globe. Furthermore, computers provide safe and economical storage of information for companies, organizations, and individuals.
• Advancement in technology has seen the introduction of highly sophisticated tools and machines.

P4Describe sources of internal and external finance for a selected business

Internal sources of finance are funds found inside the business. For example, profits can be kept back to finance expansion. External sources of finance are found outside the business, eg from creditors or banks………………

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