What Businesses Need

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  • Created by: Ali Bland
  • Created on: 03-03-15 19:43
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  • What Businesses Need
    • Where does money come from?
      • Share issues
      • Retained profit
      • Government loans/grant
      • Venture capitalists
      • Mortgage
      • Hire Purchase
      • Overdraft
      • Sales of assets
      • Trade credit
      • Owners capital
      • Sales and lease back
      • Bank loan
      • Debenture
    • Cash Flow
      • Cash flow is the money going in and out of a business
      • Why is cash flow management important?
        • Without enough cash a business could fail
        • There has to be enough money to pay bills
    • Cash flow forecast
      • Limitations?
        • Only a prediction so may be wrong
        • Staff may be overconfident - biased
      • A prediction of the money going into and coming out of a business
    • What are the functions in a business?
      • Purchasing
      • IT department
      • Customer service
      • Finance/accounts
      • Marketing
      • Human Resources
      • Prediction
    • Workforce planning
      • Involves assessing current and future labour needs of an organisation to get the:
        • Right number of workers
        • With the right skills
        • In the right place
        • At the right time
    • What are the stages in workforce planning
      • 1) Evaluate the current workforce
      • 2) Analyse the future workforce
      • 3) Identify any gaps
      • 4) Find ways to fill the gaps
    • What may workforce analysis result in?
      • Recruiting
      • Redundancies
      • Training
    • Advantages of internal recruitment
      • Abilities of employees already known
      • Quicker and cheaper
      • Reduces the risk of employing the wrong person
    • Advantages of external recruitment
      • A larger choice
      • Brings new ideas
      • Brings new experience
  • A prediction of the money going into and coming out of a business

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