Unit 2 Business Resources Assignment in BTEC Level 3 (GC0702)
Abstract
Blue Inc has several resources including physical and technological resources. That is why it is performing well with a 56.23% gross profit. An expected gross profit is seen over the year. This means that the amount of money that goes into the business has been increased. As a business Blue Inc should reduce the cost of its purchases, they might find a cheaper supplier which would not affect the quality of the service that they are providing. The rate of gross profit will be increased devoid of forcing the business to increase the cost of goods sold. The net profit is 8.98% per year. The result of the net profit designates that the business of Blue Inc running well.
This means that the amount of money that the business had leftover after subtracting expenses has reduced. The result of the ROICE shows that Blue Inc is not performing well in its current business circumstance. Nevertheless, for expanding the business the profitability needs to be improved. The business seems to have a higher level of gross profit comparing it to the net profit; this shows that the business operational costs are too high. The percentage of the net profit should be similar to the gross profit percentage and this would show that the amount of money spend on expenses is reduced and that it stays at a good level. The owners of Blue Inc have to cut the operational costs that will make the business more profitable.
Table of Contents
Abstract
Introduction.
P1 Describe the recruitment documentation used in Blue Inc.
Job advertisement
Application Form.
Curriculum Vitae.
P2 Describe the main employability, personal and communication skills required when applying for a specific job role
Employability skills.
Personal skills.
P3: Describe the main physical and technological resources required in the operation of a selected organization
Physical resources.
Technological Resources.
P5 Interpret the contents of a trading and profit and loss account and balance sheet for Blue Inc
Trading and profit and loss account
Purpose of Balance Sheets.
Performance analysis.
P6 Illustrate the use of budgets as a means of exercising financial control of Blue Inc.
Calculation of breakeven point for Blue Inc.
Draw their breakeven chart, annotating in a manner that explains it to Blue Inc.
Re-calculate the breakeven and explain the impact on the business.
Impact of changes in the business.
P7 Illustrate the financial state of Blue Inc.
Identify the main problems that the company is faced with.
Identify the main causes of those problems.
Suggest ways of improving cash inflows/outflows in order to minimize the cash deficit or generate a cash surplus
Conclusion.
Reference.
Introduction
The term “Business resources” is recognized as the resources which are needed and used by business organizations (Smith, 2018). Business resources include production factors, labor, land, and capital. Every business organization needs several resources including physical, human, financial, and technological resources. This assignment is divided into seven key tasks. The recruitment documentation which is applied in the chosen organization is described in the first task. Then, the key person, communication, and employability skills which are needed for applying for a job are described in the second task.
After that, the physical and technological resources which are essential for the chosen organization are explained in the third task. Moreover, both internal and external finance sources are explained in the fourth task for the chosen organization. In addition, the profit and loss account, balance sheet, contents of trading are explained for the chosen organization in the fifth task. Furthermore, the use of the budgets as a means of exercising financial control for the chosen organization is illustrated in the sixth task. Finally, the financial state is also illustrated in the last task for the chosen organization.
P1 Describe the recruitment documentation used in Blue Inc
Job advertisement
A job advertisement is a paid announcement in a newspaper or other medium about a job vacancy. The advertisement is part of a wider recruitment process designed to attract suitably qualified candidates for a job. Job advertisements are created by human resource professionals or external recruitment agencies working with the managers of departments who need to recruit staff. The main purpose of a job advertisement is to attract suitable candidates for the position. An effective ad reduces the time companies spend interviewing unsuitable candidates by providing a precise statement of job requirements. A job advertisement also plays a secondary role by helping to position the company as a growing organization staffed by quality people. This can help create awareness and interest from qualified people who might be attracted to the company.
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Job advertisements typically take two forms: display and classified advertisements. Display advertisements include bold headlines, copy, and photographs, or illustrations. They come in various sizes, from small boxes to full-page or even double-page advertisements. Through size and creativity, ad designers aim to create impact with display advertisements. Classified advertisements are much simpler. They feature a subject headline and text and appear under a job category heading with other advertisements of similar appearance. Classified ads offer little opportunity for creative treatment or impact. Blue Inc has several ways to advertise its vacancies. They advertise their vacancies through websites, newspapers, job centers, internal advertisements.
Job descriptions and person specifications
An important element in workforce planning is to have clear job descriptions and personal specifications. A job description sets out: 1) the title of the job; 2) to whom the job holder is responsible, 3) for whom the job holder is responsible, 4) a simple description of roles and responsibilities
A person specification sets out the skills, characteristics, and attributes that a person needs to do a particular job. Together, job descriptions and person specifications provide the basis for job advertisements. They help job applicants and post-holders to know what is expected of them. At Blue Inc, these documents are combined. As they are sent to anyone applying for jobs, they should: 1) contain enough information to attract suitable people, 2) act as a checking device to make sure that applicants with the right skills are chosen for an interview, 3) set the targets and standards for job performance.
Job descriptions and personal specifications show how a job-holder fits into the Blue Inc business. They help Blue Inc to recruit the right people. They also provide a benchmark for each job in terms of responsibilities and skills. These help managers to assess if the staff is carrying out jobs to the appropriate standards………………..
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