Business Plan and Report

Business management influence people to help in accomplishing the goals set by a specific organization and business. The functions include planning, organizing, and guiding employees and activities surrounding these events. A business management report is an account of the organization’s activities drawn up by its management. It is an evaluation of the management team in all segments of an organization or business.

In making reports like this, a manager must be updated about the records of the organization, keen on details, critical in analysis, and possess a significant knowledge on managerial position. The structure of the report must delve into the future of the organization or business and must be deliberate and comprehensive in analyzing the current standing of the business. Areas such as human resource planning, quality assurance and operations management are some of the essential fields an organization should look into to improve on their product or service for the satisfaction of their consumers.

With the shift from the industrial age to the information age, businesses are faced with new rules of competition and the need to respond quickly to changes in the marketplace. Increasingly, competitive success is being achieved by acquiring and leveraging intangible assets such as skills, systems, and values. Companies are finding that many management systems that worked well in the past are not effective in this new environment. In particular, the performance management systems of yesterday, designed to capture measures and standards keyed to financial and physical capital, do not provide timely clues as to the company's management of skills, systems, and values critical for competitive success today and in the future.

PLAN

Performance management will be assessed according to three theoretical categories of human resource management. The first is that performance management is viewed as a key integrative mechanism which connects individuals’ goals and responsibilities to the objectives of the business and integrating major interventions such as appraisal, rewards, training and development which encourages a strategic improvement within the company (Beer et al., 1984; Fombrun et al., 1984; Storey, 1992). To fulfil this category, the company introduces the system as an important way of incorporating the company’s vision mission statement and objectives with the day to day work. It can be strengthened further by creating a performance appraisal information form which aims to link performance of the individual to the company’s vision mission and the objectives of the business plan.

The second category deals with performance management as the means to enhance organizational control over employees, constructing a consistent statement of managerial expectations which promotes a unified view of the company (Stiles, 1999). This is clearly a way of manifesting control over employees as it will keep track of actions of each individual. It will also involve an individual monitoring system using the performance appraisal information form as well as team-monitoring.

Lastly, performance management is an important driving force in determining valuable outputs such as employee loyalty. According to Peters and Waterman (1983), it is important for organizational success and strong organizational culture for employees to identify with the company in terms of values, goals and desired behaviors. The performance appraisal system does not only test the skills of the workers but also their values and goals in congruence with the company’s expectations. Here is a sample structure of a management report in the quarter term of the year. This report aims to recommend an introduction of appraisal system in performance management.

I. The Human Resources – Workforce: Employees and Staff

There is an evaluation of the performance of the all employees and staff. The data will be provided by the supervisor or the immediate manager as a result of the three-month period of labor. Here are some guide questions in employee evaluation.

a) What are this employee’s strengths? Specifically, what are his or her talents and relevant skills and knowledge?

b) What is expected of the employee?

c) How can the employee use his unique strengths to drive each of the dials? Specifically, what strength-based strategies or tactics can he employ to reach the levels expected of him?

In this part, the current standing of the employees is significant. It will serve as a basis in determining performance benefits, promotion, and career advancement. In the childcare environment, every employee is expected to be possess all the essential qualifications predetermined during the process of hiring.

II. The Marketing Department – Market the Product/Service

Market research is an integral part of the planning process. There are things that need to be done like the client satisfaction surveys, studying the competition, test brand recognition and then analyze market trends. In order to build future marketing programs and putting the company at a significant competitive edge, better information about an organization’s business environment should be established. The purpose of this paper is to tackle and understand deeply how consumers make purchase decisions in order to choose one appropriate target market. The “needs” and how these needs fit within the states of the consumer behavior model will be discussed and how the product/service target market and competition is being applied.

Here are some aspects to be reviewed:

a) target market

b) product or service

c) consumer behavior

d) competition

III. The Finance Department – Money Matters

The financial capacity of an organization also defines its duration in the market. Hence, the finance department should maintain a cost-effective and efficient implementation and monetary allocation. Financial management means setting realistic goals for cash flow, wealth accumulation, and asset distribution. It also means setting priorities, taking advantage of the tax laws and using various financial products to your advantage. This financial plan, based upon the information provided by the organization, has been prepared to help the center achieve the following financial goals:

• To increase profits
• To decrease operational expenses at the same time maintaining maximum service and customer satisfaction
• To provide employees reasonable incentives, benefits and salary increase depending on their performance.
• To expand services and open a new center.

To achieve the above-mentioned goals, a review of the organization’s current financial situation, then, suggest strategies to help meet these goals.

Assets

Funds (stocks and shares) 520, 000

Facilities and equipment 150, 000

Bank Savings 120, 000

Total 790, 000

Liabilities

Operational Expenses 350, 000

Employee Salary 250, 000

Total 600, 000

The organization studies the feasibility to purchase an investment trust that will generate additional income and to make money grow in the bank. Since everything is dynamic in business situation, there is a need to constantly evaluate and observe every circumstances of the business. The goal of the manager is to maintain a balance of expenses as well as the unity of all funds in the different departments concern in the development of the business.

References

Beer, MS, Spector, B, & Lawrence, PR (1984). Managing human assets, New York: John Wiley & Sons.

Fombrun, CJ, Tichy, NM., and Devanna, MA (eds.) (1984). Strategic human resource management. New York: John Wiley & Sons.

Peters, TJ & Waterman, RH (1983) In search of excellence: Lessons from America's best run companies. New York: Harper & Row.

Stiles, P, Gratton, L, Hailey, VH & Truss, C (1999) Strategic human resource management: Corporate rhetoric and human reality, Oxford: Oxford University Press.

Storey, J (1992) Developments in the management of human resources, Oxford: Basil Blackwell.

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