This paper analyses the resources of Blue Inc that is a UK-based young fashion company. Blue Inc uses job advertisements, job descriptions and specifications, application forms, and interview processes in recruiting new staff. It is looking for both employability skills (including qualifications, experiences, and product knowledge) and personal skills including flexibility, communication skills, and team working skills. Blue Inc has several physical resources including buildings, properties, and lands. It also has technological skills including software, online resources, database, hardware, etc. As internal sources, it can use retain earnings and working capital as financial sources. As external sources, it can use bank loans, venture capital, overdrafts, and credit cards as financial sources. Blue Inc should improve its cash flow forecast. This is because it has a high expenditure in comparison to expenditure that significantly affects the business performance causing deficits.
Table of Contents
P1 Describe the recruitment documentation used in Blue Inc.
Application Form (meeting the criteria)
Shortlisting and Call for interview.
Contracts of employment
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 Blue Inc.
P4 Describe sources of internal and external finance for Blue Inc.
P5 Interpret the contents of a trading and profit and loss account and balance sheet for Blue Inc.
Income statement (profit and loss statement)
Balance Sheet (Statement of financial position)
P6 Illustrate the use of budgets as a means of exercising financial control of Blue Inc.
Calculation of breakeven point for Blue Inc.
Re-calculate the breakeven point
P7. Illustrate the financial state of a given business with the help of a cash flow forecast
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
Effective management of business resources is one of the key functions of any organization. According to Mullins (2014), business resources are mainly classified as human resources, physical resources, financial resources, and time and effort resources. This paper discusses and analyses the resources of a specific organization. The chosen organization here is Blue Inc. Blue Inc is a UK based company and operating in Blue Inc in the fashion market. It is operating in the domestic (UK) and international market with affordable, fast fashion with unique product design. It offers a variety of product ranges including men’s, boys’ and women’s wears. It has over 2000 staff (the majority of staff are under 27 years old) and staff is trained up in its National Training Centre in Harrow and North West London.
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P1 Describe the recruitment documentation used in Blue Inc
The first requirement documentations used in Blue Inc is job advertisements. The job advertisement is a paid announcement in a newspaper or other medium about a job vacancy provided by Blue Inc. 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 job advertisement 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 Blue Inc as a growing organization staffed by quality people. This can help create awareness and interest from qualified people who might be attracted to Blue Inc for future vacancies.
A job description is a document primarily used by Blue Inc as an advertisement for prospective employees. It also can be used for determining compensation and performance reviews. The job description provided by Blue Inc includes the hours and shift that the individual performing this position will be working. Most importantly, Blue Inc’s job advertisements include duties, tasks, and responsibilities that lie within that specific post. This is the area that specifics should be included, including the skill set necessary to complete the tasks outlined. It also includes position types, shift patterns, and starting pay rates.
Blue Inc looks for a number of specifications from candidates as a crew member. These are discussed as follows:
Confident: the candidate should be confident to work with another colleague in a diverse work environment. The candidate should also be confident to maintain health and safety issues.
Team working: For being a team member at Blue Inc, the candidate needs to be a worm as well as a friendly person. As a supportive team member, the candidate will have to work in a fun environment and fast-paced. The candidate will also have to be customer-focused at every moment. He/she needs to use initiatives to ensure effective teamwork and work in the line of company guidance (Blue Inc, 2017)………………