What Businesses Need
- Created by: Ali Bland
- Created on: 03-03-15 19:43
View mindmap
- 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
- Limitations?
- 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
- Involves assessing current and future labour needs of an organisation to get the:
- 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
- Where does money come from?
- A prediction of the money going into and coming out of a business
Comments
No comments have yet been made