...products that are valued, which in turn increases lifetime loyal customers | Employees | Fair wageSuitable hoursGood working conditionsTrainingCareer progression | Ensure they meet employees expectations aim to be one of the best companies to work for | Tesco remains to grow and expand creating more leaders to run on a day-to-day basis for the businesses in areas such as operations and other functional areas. They are lacking in leaders who have new, diverse ideas so they are investing in finding new people to support the expansion of the business. | Suppliers | Prompt payment want loyalty repeat orders | Ensure prompt payment so that respect is gained between the business and supplier, to guarantee the best products/ services and repeat orders. | This links to the strategy “To be as strong in everything we sell as we are in food”, since groceries is their expertise and that’s what they are known for, however to compete with other business and increase profitability, they had to diversify by expanding their product portfolio in-store and online. | Trade Unions | Members to be treated fairly | If a employee was treated unfairly or unequally then Tesco would have to communicate to the trade union where they can sort it out...
Words: 929 - Pages: 4
...Business Research Report Compensation Strategies Assessment Code: RWT1 Student Name: Jeannie Altmaier Student ID: 000284655 Date: 04/20/2014 Mentor Name: Kathy Huffman Contents Executive Summary 3 Introduction 4 Research Findings 5 Stock Options 5 Tuition Reimbursement 6 Merit Plans 7 Conclusion 8 References 10 Executive Summary In a business the main focus is become as successful as possible. In order to gain success and maintain the success a business must have a reliable and dependable staff. With this being said it is important to compensate employees to maintain and develop the best work performance possible. The success of the business is depended on the employees. Research has been done on three compensation strategies that benefit the employees and company, those three compensation strategies are implementing stock options, tuition reimbursement, and merit plans. Stock options benefits have been known as an attractive way to reward employee performance. It is important for the organization to claim the stock options to be capitalized on the balance sheet so shareholders can track EPS, which in return is beneficial to the organization as well. This compensation benefit has been around for decades and continued to grow until the increase in accounting rules in 2001. With more rules implemented it allows for the companies to maintain a fairness in the workplace. This option should be offered to all employees but is not...
Words: 3261 - Pages: 14
...Contents Section 1 2 1.1 Market Failure 2 1.2 Public goods 2 1.2.1 Relation between Market failure and Public goods 2 1.3 Merit goods 2 1.3.1 Relation between Merit goods and Market Failure 2 1.4 Externalities 2 1.5 Imperfect competition 3 Section 2 4 2.1 UK government policy on the environment 4 2.2 About the policy 5 2.2.1 Water quality 5 2.3 Instruments the government use to achieve their policy 5 2.4 A justified evaluation of the performance of the policy in relation to its use within the UK 6 References 7 Section 1 1.1 Market Failure Market Failure is an economic situation where free market fails to allocate resources efficiently. It is the abbreviated situation in the any market where the curves of the quantities of the product demand and the quantities of the product supply do not match any equilibrium. This situation is called market failure. In addition, people are selfish that they produce goods and service in a business field, so it becomes market failure. The government have to intervene following reference namely public goods, merit goods, extremities and imperfect competition for improving market. 1.2 Public goods Public goods are about goods or services that can be consumed by everybody in a society, or may not produce at all. Public goods are non-excludable which stand for no one individual cannot be ineffectively kept out from using goods. Most of the public goods are served by government. (E.g. Street lightning). 1...
Words: 1351 - Pages: 6
...BTEC HND Business Assessment activity front sheet Student Name: Hafiz Naveed Ahmad Abbasi Assessor Name: C Palmer I.V Name: M Towler Assignment Title: Business Environment Unit: 1 Title: Business Environment Purpose: The aim of this unit is to provide learners with an understanding of different organisations, the influence of stakeholders and the relationship between businesses and the local, national and global environment. Date Set: 13/09/2011 Deadline: 29/09/2011 Learning Outcomes: LO1: understand the organisational purposes of businesses LO2: understand the nature of the national environment in which businesses operate Activities: • Purposes of organisations (1.1, 1.2, 1.3) • Nature of the national environment businesses operate in (2.1, 2.2, 2.3) Specific Assessment Guidance: • Read all questions carefully. • Use appropriate business terminology when answering questions. • Make sure sentences have correct grammar. • All work to be produced on Word processing software in an academic format. • Only use credible sources to support your work • Internet articles, books, appropriate magazines and newspapers can be used as sources of information • Harvard referencing or an appropriate referencing system must be used REMEMBER TO SIGN, DATE AND ATTACH THIS FRONT COVER TO YOUR WORK Grading method: Pass, Merit, Distinction Student Name: I confirm that the submitted work is entirely my own. Signed: Date: BUSINESS CONSULTANCY: AJ CLOTHING As part of your job you have been...
Words: 1187 - Pages: 5
...BTEC Level 5Higher National Diploma (HND) in Business Unit 1 : Business Environment Unit Code : Y/601/0546 Assignment No : 1 Assignment Title : Assessment of Business Environment for an organization of your Choice Date Set : 10/10/2014 Due Date : 25/12/2014 Learning Outcome Covered: 1. Understand the organisational purposes of businesses 2. Understand the nature of the national environment in which businesses operate 3. Understand the behaviour of organisations in their market environment 4. Be able to assess the significance of the global factors that shape national business activities Grading Opportunities Available: Outcomes/Grade Descriptors | P 1.1 | P1.2 | P 1.3 | P 2.1 | P 2.2 | P 2.3 | P 3.1 | | | | | | | | | Outcomes/Grade Descriptors | P 3.2 | P 3.3 | P 4.1 | P 4.2 | P 4.3 | M 1 | M 2 | | | | | | | | | Outcomes/Grade Descriptors | M 3 | D 1 | D 2 | D 3 | | | | | | COMMENTS: P (PASS) – Learner should able to demonstrate the ability to explain each outcome as per to the Assessment information page of this assignment. M (MERIT) - Expected Qualities of the Learner’s work at Merit level will be accordingly to the merit descriptions of this assessment information page. D (DISTINCTION) – Expected Qualities of the Learner’s work at Distinction level will be accordingly to the distinction descriptions of this assessment information page. Assessor: Afzal Munna...
Words: 1426 - Pages: 6
...Institution: Performance pay also called merit pay can be defined as a system that remunerates its employees in relation to an assessment of individual performance and how well one works. Such systems basically are meant to align employees’ individual effort to the goals and objectives of the organization. Hence it is a reward to individual employees whose tasks have been considered to be above the set standards of an organization or above average. In cases and situations where the output produced or sales produced by an employee are hard or difficult to be empirically determined, performance pay is most applicable; for examples in the teaching profession. In cases of performance payment, individual performance is usually reviewed regularly through a process called performance appraisal. Performance appraisal helps in establishing and identifying if the set objectives and standards are in line with the performance results. Generally, performance pay is usually rewarded on basis of performance results rather than on the time worked, (Council, 2011). Performance pay for teachers has been quite a subject of contention in many places and especially in the USA. Performance pay is meant to compensate teachers based on a set of performance standard and does not consider a teacher’s level of education or the level of experience gained. Hence, the more outstanding results a teacher produces from the students, the more the teacher is to be paid. Merit pay does not necessarily come in form...
Words: 1560 - Pages: 7
...Assignment Brief | Title of Qualification:Edexcel BTEC Level 4 HNC in Business | Unit title: Unit 1 Business Environment | Unit code(s): Y/601/0546 | Learner:Nuraiym Azygalieva | Assessor:Dinara Bobusheva | Internal Verifier:Talant Asan uulu | Title of Assignment:Organizational purposes of Business and effective strategy in context of Business start-up.Grading criteria: P1.1, P1.2, P1.3; M1; D1.Related learning outcomes:LO1: Understand the organizational purposes of businesses. | Assignment Number:__1__of __3__for this Unit | Date assigned:November 1, 2013 | Date of review:November 8, 2013 | Date for final submission:November 15, 2013 | Learner declaration:I confirm that this assignment is my own work and any assistance received has been acknowledged and all sources have been stated.Signature: Date: November 15, 2013 | Scenario:In order to facilitate the interactive teaching technique due to accepting the basic findings of Interactive Business Situations Analysis conducted during the seminars and independent students’ study, the following two alternative scenario have been proposed for designing the required Assignment # 1 as follows:Scenario # 1:Primary terms of Business start-up to be organized as “Skull-Up” company are determined as Business partnership with full liabilities legal form. Business specialization of considering enterprise is Restaurant service providing...
Words: 3175 - Pages: 13
...ASSIGNMENT 1 BRIEF |Qualification |BTEC Level 5 HND Diploma in Business | |Unit number and title |Unit 1: Business Environment | |Assignment issued | |Assignment due | | |Assessor name | | |Assignment title |Businesses and Their Interactions with National Environment | | | | | |This assignment encourages learners to identify purposes of different types of organization and to | | |investigate the national environment in which businesses operate, which correspond to Learning Outcome 1 and | | |Learning Outcome 2 of the unit/course. | | |Scenario: | | |You have...
Words: 2044 - Pages: 9
...Business Research Report Manufacturing Compensation Strategies Assessment Code: RWT1 Student Name: T Student ID: Date: Mentor Name: Table of Contents Executive Summary 3 Introduction 4 Research Findings 4 Merit Pay 5 Job Based Pay 6 Skill Based Pay 7 Recommendations 8 Conclusion 8 References 9 Executive Summary After examining several distinct compensation strategies utilized in the manufacturing industry, I have prepared this report to explore three specific plans; Merit Pay, Job Based Pay and Skill Based Pay. When considering a compensation plan, more than just pay should be included. No compensation strategy would be complete without including all forms of compensation from pay, health benefits, retirement savings options and time off. Merit Pay is increasingly becoming prominent in manufacturing. Employers that use Merit Pay bestow pay increases and incentives to employees based on individual performance. This maybe a good way to reward high performers and publicize those behaviors that the organization values. Job Based Pay is a structured pay system that compensates according to the position instead of the employee’s ability or adeptness to do the job. This job based strategy can reduce the likelihood of gender discrimination in pay. Also, it ensures that the employee is being paid a fair market value for the work they perform. Finally, Skill...
Words: 2158 - Pages: 9
...Other Awards | Winner/Merit Awardee | Awardees | Name of Project | Country | 2003 | Environmental Excellence | Winner | Nestle Philippines | Greening The Supply Chain | Philippines | | | Merit Awardee | Unilever Indonesia | The Sustainable Clean Brantas River Program | Indonesia | | | Merit Awardee | Mass Transit Railway Corporation | Sustainability Report 2001 & 2002 | Hong Kong | | Support & Improvement of Education | Winner | Tat Consultancy Services | Adult Literacy Program | India | | | Merit Awardee | Coca Cola Foundation, Inc. | Creative Writing Workshop on Children’s Books | Philippines | | | Merit Awardee | Hong Kong & Shanghai Bank Corp. Phils. (HSBC) | Model of Excellence School in Esteban Abada | Philippines | | Best CSR Policies | Winner | Union Cement Corporation | Union Social Development and Management Program | Philippines | | | Merit Awardee | Unocal Thailand | The Social Responsibility Ambassadors Program | Thailand | | | Merit Awardee | Central Azucarera Don Pedro | The Community Development Program | Philippines | | Poverty Alleviation | Winner | Hindalco Industries | Integrated Rural Poverty Alleviation Program | India | | | Merit Awardee | Allen & Overy | Supporting “Helpers from Domestic Helpers” | Hong Kong | | | Merit Awardee | Seylan Bank | Comprehensive Microfinance for Micro-sector Empowerment | Sri Lank | | Special Achievement Award | Winner | Philippine Business for Social Progress...
Words: 1901 - Pages: 8
...BTEC First Unit 1: Business Purposes Learning outcomes By the end of this assignment you should: • Understand the purpose and ownership of a business. • Understand the business context in which organisations operate. Scenario You have got a job working in the business advisory service of the county council. As part of your job you have to produce materials to explain various aspects of the business world to students and people thinking of starting their own business. These tasks should reflect what would be required for such a job and should be set out with this in mind. |Sole Traders or Partnerships |Companies |Government Organisations |Charities | |Happy Garden Takeaway |Tesco PLC |The Post Office |Oxfam | |Berry & Berry Solicitors |Royal Bank of Scotland |Railtrack |Demelza House Hospice | |Geoff Wood Painter & Decorator |JCB Ltd |Kent Police |Children in Need | |The Blue Anchor |H+H Celcon Ltd |University of Greenwich |RSPCA | Task 1 Taking one organisation from each column of the table above, research and describe details of each business in terms of: • The purpose of each organisation [P1] • Who owns each organisation and what this means. [P2] ...
Words: 555 - Pages: 3
...BTEC Business Unit 1: Business Purposes Learner Name: | Centre Number: 23168 | BTEC Business | | Learner No: | | UNIT NUMBER AND TITLE: | Unit 1: Business Purposes | ISSUE DATE: | | HAND IN DATE: | | RESUBMISSION DATE: | | ASSESSOR: | | Aims The aim of this unit is to enable you to understand the nature of business organisations and the business environment in which they operate. You will do this by looking at the range of organisations that exist locally, regionally and nationally and by considering the business framework in which they operate Work covered You will: * Understand the purpose and ownership of business * Understand the business context in which organisations operate Understand the purpose and ownership of business Purpose: supply of goods and services e.g. at a profit, free, at cost, for sale below cost Ownership: sole trader; partnership; limited companies (private [ltd], public [plc]); charity; voluntary organisations; co-operatives; government Size: small; medium; large Scale: local; regional; national; European and global organisations Classification: primary (e.g. farming, forestry, fishing, extraction/mining); secondary (e.g. manufacturing, engineering, construction); tertiary (e.g. private service industries, local and national public services, voluntary/not-for-profit services) Understand the business context in which organisations operate Role of government: European; national;...
Words: 786 - Pages: 4
...Meaning of training Training is an organized planned effort by a company in order to facilitate employees learning regrading job related competencies. These competencies include knowledge, skills and behaviors important for successful job performance. Goal of training programs for employees is mainly to master the knowledge, skill and behaviors and to apply them in their daily activities. In order to gain competitive advantage, a company should give training broadly as a method to create intellectual capital. Intellectual capital includes: Basic skills : Skills needed to perform employees job Advanced Skills: To use technology in order to share information with other employees. Understanding of customer or manufacturing system. Self motivated creativity The purpose of training is basically to bridge the gap between the job requirement and present competencies of an employee. According to Jucius Training is a process of acquiring specific skills to perform a job better. With the help of above definitions nature of training can be summarized as : It is a process of acquiring specific skills which enhances job performance. It is a process of teaching, informing or educating people. It provides required qualification to individuals in order to perform their job in a better way. It provides qualification to employees so that they can perform in positions of greater difficulty and responsibility. It is and act of increasing knowledge and skills. Objectives of training...
Words: 2381 - Pages: 10
...#BAY LEASING AND INVESTMENT LTD : Bay Leasing and Investment Ltd is looking for smart, energetic and result oriented personnel as Internal Audit Officer to expand its business and services. Bay Leasing & Investment Limited is one of the pioneer financial institutions in Bangladesh. Bachelor’s degree with CA course complete from any reputed Chartered Accountancy firm is needed to apply. Age limit is max 35 years. Applicants should have analytical skills, computer literacy, excellent communication skills both in English and Bengali. They must have 5 to 7 years work experience in similar work in Bank/NBFI. They should have knowledge on new counting techniques, financial policies etc. #GSP FINANCE CO. BANGLADESH LTD: Critical to achieving our objectives is to attract, retain and motivate the highest quality employees at all levels of the organization. We will invest in broad based skills development to deepen the human capital of the individual and hence the organization. Career mobility is also important and we intend to offer multiple and varied opportunities for the best performing staff to gain experience across a wide range of sectors. A defining characteristic of the HR policy of the company is that compensation levels are set on the basis of performance both at an individual and company level. A culture of meritocracy should be evident in the DNA of the company. Promotions will be determined by performance and not seniority or tenure. We are committed to career...
Words: 1102 - Pages: 5
...Course Outline Welcome to the sixth form and the Business Studies department! The qualification is structured into mandatory units (M) and your choice of optional units (O). The BTEC Level 3 National Diploma has four mandatory units and eight optional units to provide a total of 120 credits, which is equivalent to two GCE’s. The Units you will be completing are as follows: Unit: | Name: | 1 | The Business Environment (M) | 2 | Business Resources (M) | 3 | Introduction to Marketing (M) | 4 | Business Communication (M) | 5 | Business Accounting (O) | 10 | Market Research in Business (O) | 12 | Internet Marketing in Business (O) | 13 | Recruitment and Selection in Business (O) | 15 | Development Planning for a Career in Business (O) | 16 | Human Resource Management in Business (O) | 29 | Understanding Retailing (O) | 36 | Starting a Small Business (O) | Assessment and Grading: In BTEC Nationals all units are internally assessed. All assessment for BTEC Nationals is criterion referenced, based on the achievement of specified learning outcomes. Each unit within the qualification has specified assessment and grading criteria which are to be used for grading purposes. A summative unit grade can be awarded at pass, merit or distinction: * To achieve a ‘pass’ a learner must have satisfied all the pass assessment criteria * To achieve a ‘merit’ a learner must additionally have satisfied all the merit grading criteria * To achieve a ‘distinction’...
Words: 386 - Pages: 2
