My Big Fat Revision

Explain the general purpose of legislation from the point of view of a business (4 marks) The purpose of legislation from the point of view of the business helps protect businesses with weaker bargaining power, and also ensures competition is fair, employees are treated fairly, that due attention is paid to the environment, that consumers are considered and that health and safety regulations are met. Legislation essentially instructs how a business environment is ran – in an orderly fashion. Explain two advantages to a business of legislation related to competition (6 marks) One advantage to a business of legislation related to competition is anti-competitive agreements. Law is put in place to prevent, restrict or distort competition. This prevents the agreement of the fixture of selling prices, agreements that limit production, investment, development and agreements that apply different conditions to similar businesses. In this case, legislation is beneficial as it allows for an even ...

Recruitment Recruitment is identifying the need for new employees, attracting the ‘best’ candidates for the job and then selecting the most suitable candidate in order to meet the staffing requirements of an organisation. Human resource planning Needs to be determined by the use of human resource planning techniques. Many organisations decide to fill vacancies without really considering if there are alternatives to recruitment. Good human management will consider alternatives; redeployment, increased overtime, temporary workers, new technology and outsourcing. Person specifications This provides the details of the ideal candidate by listing the desirable characteristics of that person. It is used to identify the criteria that should be used in short-listing and then in selecting the best candidate from those who apply for the position. Specifications should include: Skills, aptitude, knowledge and experience Qualifications Personal qualities relevant to the job e.g. work as part of a t...

Unit 10 Managing Change – Revision Questions 1. Give 4 reasons why change is important to business. Change is important because if a business does not change they are likely to lose their competitive edge and not meet the needs and wants of the customer. They would not have taken advantage of developing technologies – either administrative processes or manufacturing tasks. Customers’ needs change and this creates demand for new types of goods and services which opens new areas of opportunity for businesses that are prepared to change to meet these needs. Change has improved working conditions and job satisfaction for employees – this increases productivity. Employees can learn new skills and explore new opportunities. They can be more creative in ways that benefit the company. 2. Give an example of internal & external change Internal change could be the introduction of new technology. External change could be a change in legislation. 3. What is disruptive change? Give 3 examp...

Steve Jobs, the founder of Apple, was asked to come back as Chief Executive in 1997 when the business was making a loss. Jobs was appointed to provide a clearer vision for the business and to improve its profitability. How easy is it for a Chief Executive to change a struggling business into a more successful one? Justify your answer with reference to Apple and/or other organisations you know. Steve Jobs is a returning Chief Executive of Apple. Appointed to provide a clearer vision for the business and to improve its profitability, Jobs’ transformation of the struggling business will depend on how struggling it is. It could be struggling in more pressing senses like financial issues which may make change more difficult, or in regards to direction and innovation, a few small changes may solve the problem. Jobs’ would be wise to align values of the business and adopt a leadership style that will see them work through this period of hard times to reach a point of success. How easy it is f...