Developing Process Of A Business Plan And Entrepreneurial...

Introduction Entrepreneurs establish Small and Medium-sized Enterprises (SMEs), which are playing an increasingly significant role in the global economy. According to the recent statistics of UK, of all private sector businesses, SMEs accounted for 99.3% at the start of 2015; 60% employment at 15.6 million; and 47% annual turnover at  £1.8 trillion (FSB.org, 2015). Thus, it is of vital importance to understand how to formulate and operate an SME. This reflective essay, therefore, mainly focuses on two topics of SMEs: the developing process of a business plan and entrepreneurial finance, which is a key aspect for SMEs to operate successfully. Personal experiences and group behavior are blended into theoretical approaches to critically evaluate various financial aspects. Christopher Johns’ Model of Reflection is adopted in financial part of this essay where individual reflection is portrayed. Figure 1 provides an overview of this model as five cue elements: description; reflection; influencing factors; evaluation; and learning. Figure 1: Johns’ Model of Reflection Source: Johns C, 1994 1. The Developing Process of Business Plan This part demonstrates a theoretical overview of a typical business plan and background information of my business plan, providing a solid foundation for financial arguments discussed in the second part of this essay. 1.1 Theoretical Overview A business plan is defined as a document that describes the proposed venture in terms of the product orShow MoreRelatedThe Entrepreneurial Process1267 Words   |  6 Pages The Entrepreneurial Process Many successful entrepreneurs tend to follow a process to develop their businesses. This process contains four stages toward achieving their dreams. 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The club is located within the University of Pittsburgh College of Business Administration. Our task as auditors is to examine and understand the club. The goal of this project is to issue a recommendation for improvements that our client can make. The following

Media Role Models and the Effect on Children - 3275 Words

Media construct our culture, and the media we use to communicate with one another shapes our perception of reality. Our society is centered on media, it is the most influential factor in constructing our culture, but is it a positive culture? If we examine the effect that media has on children, we can say that it breeds a harmful culture, one that throws values and morals out the window. This is because the media is profit driven and has developed its own code of ethics of anything-goes. As a result, children are exposed to things that they should not necessarily be exposed to yet and as a result it rushes their mental development and in fact moulds their mentality. This is a scary fact because these childrens minds are susceptible†¦show more content†¦Another example we could look at is Britney Spears, young girls who like Britney Spears think that she is ‘cool and thus they strive to be just like her, and this involves acting like Britney and more importantly buyi ng Britney Spears products such as her clothing. So in conclusion these media personalities are popular among children and idolized by them because they are promoted as being cool and for a child to be cool they must be just like them, which involves buying their products. These media personalities are in essence products themselves that the media bodies try to sell to children on the basis of ‘cool, and once they can be sold to the children as being cool, their entire franchise benefits because their image can create the demand for all products with their likeness. Now lets look at the effect that these media personalities have on children in the age group 5 and under. We assume that children are safe watching educational programming such as Blues Clues, Dora the explorer and Teletubbies, but are they really as safe as we think they are. First off, these types of television shows are educational and do in fact teach young children while keeping them entertained. This can be seen as a positive influence on our kids and these characters as being positive roleShow MoreRelatedHypodermic Syringe Model1453 Words   |  6 PagesHypodermic Syringe Model of the Mass Media (33 marks) The Hypodermic Syringe Model suggests that the media are strong and the audience is weak and passive. This means that the messages the media portrays, society will instantly believe without questioning the ideas and morals behind this. The model suggests that children are more susceptible to the messages in the media and accept the information provided as they have not fully developed social skills. 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Future HR Business Partner Model †Free Samples to Students

Question: Discuss about the Future HR Business Partner Model. Answer: Introduction: Human Resource Department is considered to be one of the most important aspects of the business organization. The work culture demands that the human resource department works hand in hand with the management so as to enable the various activities and to increase the productivity of the organization (Ulrich 1997). The given essay is aimed at highlighting the Human resource business model as developed by Dave Ulrich. Dave Ulrich had stated that Human Resource is an important aspect of the organization without which a business cannot function. The model developed to become the Ulrich Model which began to serve as a relevant benchmark for the HR Professionals today. The essay is divided into three critical parts. The first part of the essay throws light on the critical analysis of the literature available on the model followed by the evolution of the model over a span of 20 years (Purce 2014). The last part of the essay states how Human Resource Business Model tends to contribute toward s organization`s sustainable success. The four key roles or departments in which the HR Function of the organization can be divided into are the HR Business Partner, Change Agent, Administrative Expert and as an Employee Advocate. According to Renwick, Redman and Maguire (2013), the role as a Human Resource Business Partner is the primary function of a HR Department. The primary purpose of the department is to build long lasting and sustainable relationships with the internal clients of the business environment (Ulrich 1997). These clients can be described as the employees who have been working for the organization. Together with the firm, the Human Resource Department must help out the employees and motivate them to achieve the goals of the organization. The functions of HR as a Business Model range from various duties from handling their pay roll, to recruiting and selecting new employees in the organization. Goetsch and Davis (2014), state that the Human Resource Department is a strategic business partner of a large o rganization because it performs cross functional projects which aim to fulfill the goals of the organization and increase their productivity. According to Hameed, Ramzan and Zubair (2014), the second role of a HR Manager is to act as a Change Agent. As a change Agent, the human resources team has to take part in the change management which the organization witnesses. Change is a critical part of any organization and it is the duty of the HR Department to motivate and help the employees during the process of change. Hayes (2014),states that during the times of change, the organization conducts various training sessions for the existing employees in order to help them to adapt by the change which is important for the progress of the organization. Hence, as stating by Marchington et al. (2016), through this role, the HR Function of the organization makes the various changes easy for the employees and plays its role as a Change Agent for the organization. The third role that the Human Resource Organization has to play is that of An Administration Expert. According to Gatewood, Feild and Barrick (2015), this role of the Human Resource Department is transactional. It is very important for a Human Resource Department to be a trustworthy administrator who manages various aspects of the Employee relations and management in the firm. These aspects include work and safety rules, regulations, and legislations. Alfes et al. (2013), states that they are bound to maintain a database of all the employees and have to manage their well being in an organization. The fourth role according to the Model stated by Dave Ulrich is the role of the Human Resource Department as an advocate of the employees of an organization. According to Bratton and Gold (2017), the HR Department needs to protect the needs of the employees and ensure that the strategic initiatives of the organization are maintained. The department conducts meetings surveys in order to recognize the gap which exists in the organization and make changes in the same. The training and support sessions that are conducted by the Human Resource Department helps to improve the relative experience of the employees. Cascio (2018),States that that the Human Resource Department needs to carry out various grievance processes in order to ensure that the employees are satisfied in an organization. The given section highlights the evolution of the model over the years. The model stated by Dave Ulrich dates back to 1997 which was twenty years back. Since that time the various roles and functions of the organization with respect to its Human Resource Department has evolved greatly. The Business organizations today tend to depend greatly on the soft agendas which may be referred to as organizational capabilities and talent management. The main purpose of the HR Professionals is now concerned with providing the right job to the right skilled people. The recent competitive business environment has raged a talent war where all the companies want to hire the best talent in an organization. The HR Business model had stated that the Human Resource Department is concerned with making strategies of the organization for the development of the employees. However, according to Cascio (2018), just making strategies for the business organization is not the only relative factor now, the Human Resource Department will also be responsible for assisting the organization to carry out and implement these strategies. As the nature of businesses has been changing continuously, the business partner model tends to now focus on the issues that the general management tends to face. The requirements of a business model have thus, become more demanding than ever. According to Ulrich and Brockbank (2016), the Business partner model of human resources has changed completely as not all Human Resource Professionals will be able to perform the role of a business partner. This is because of the varied size of the organization; they will not be able to link the day to day work to the results which are required out of the business. Bratton and Gold (2017), state that the HR profession is now quickly evolving and aims to add more value through a refined strategic focus. However, based on the old model, the HR professionals are unable to live up to the expectations of the current environment. With reference to the Change Manager, research states that only the top 20% of the Human Resource Individuals are being able to live up to the new expectations and are becoming a part of the change management. Whereas, the lower 20% is not being able to get there. However the middle 60% can achieve their goals through little training. Hence, if all the Human resource employees are not being able to become a part of the change initiative they will not be able to become a business partner as they will not be able to practically connect their work to the results of the business. When this model was developed back in 1997, technology had just started changing our lives and hence, the model does not make adequate considerations about the technological aspect of the business environment. With the advent in technology, the Human Resource Professionals need to have adequate knowledge and skills about the use of technology and its application in business. Earlier, their focus lied on negotiating and managing the policy terms with respect to the employee transactions (Ulrich 1997). However, in today`s business environment the business partner model demands the HR Professionals to connect their daily work to the business but these skills are necessarily not present in the employees. Hence, the failure to possess these skills will diminish the role of the HR as a business partner. Therefore, as the business environment has evolved the given model has also evolved and now demands a variety of changes from the side of the Human Resource Department. From the analysis it could be stated that the given business model goes a long way in contributing towards the sustainable success of the business organization. The model is extremely useful as it clearly divides the work of the organization into four different aspects. This helps in easy functioning of the organization and is useful for the given reasons. It creates a culture of business success. The business model is successful in setting the business culture. It helps the employees to associate themselves with the business organization and helps them to build a positive aspect about the firm. The Business partner aspect helps the organization to achieve the right talent through successful recruitment and selection techniques. When the right candidates are selected for the organization then the organizational vision is upheld. The Business HR Model also helps a firm to evaluate the activities of the Human Resource Organization based on the company goals. As a strategic business partner, the department assists the firm in carrying out the various activities of the organization and helps in increasing the productivity. Another important contribution of the business model is to assist the firm in making the best decisions for the organization. As the human resource department makes the employee decisions and employees are considered to be the best aspect of the organization hence, the business model of Human Resource assists the organization to make the best use of their employees in achievement of business goals. References Alfes, K., Shantz, A.D., Truss, C. and Soane, E.C. ,2013. The link between perceived human resource management practices, engagement and employee behaviour: a moderated mediation model.The international journal of human resource management,24(2), pp.330-351. Routledge. Bratton, J. and Gold, J.,2017.Human resource management: theory and practice. Palgrave. Cascio, W. ,2018.Managing human resources. McGraw-Hill Education. Gatewood, R., Feild, H.S. and Barrick, M. ,2015.Human resource selection. Nelson Education. Goetsch, D.L. and Davis, S.B. ,2014.Quality management for organizational excellence. Upper Saddle River, NJ: pearson. Hameed, A., Ramzan, M. and Zubair, H.M.K. ,2014. Impact of compensation on employee performance (empirical evidence from banking sector of Pakistan).International Journal of Business and Social Science,5(2). Hayes, J.,2014.The theory and practice of change management. Palgrave Macmillan. Marchington, M., Wilkinson, A., Donnelly, R. and Kynighou, A. ,2016.Human resource management at work. Kogan Page Publishers. Purce, J. ,2014. The impact of corporate strategy on human resource management.New Perspectives on Human Resource Management (Routledge Revivals),67. Renwick, D.W., Redman, T. and Maguire, S. ,2013. Green human resource management: A review and research agenda.International Journal of Management Reviews,15(1), pp.1-14. Ulrich, D. and Brockbank, W., 2016. HR Business Partner model: past and future perspectives: international waters-HR strategy.HR Future,2016(Dec 2016), pp.16-21. Ulrich, D., 1997. Measuring human resources: an overview of practice and a prescription for results.Human Resource Management,36(3), pp.303-320.