ANCUTA NOVAC ITB (1)
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INTRODUCTION TO BUSINESS
ANCUTA NOVAC
POSTER
PRESENTATION
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3 HR CASE STUDY
INTROD
UCTION
TO
BUSINES
S
TASK 3
HR
Student
Introduction
A company's performance is largely determined by its employees' motivation. Highly motivated employees contribute significantly to the performance of the business and play an active role in the organization. Developing policies and procedures for motivating employees is a key function of the human resources department of a company. This essay analyzes HR and motivational concepts and theories. Furthermore, the essay examines how Microsoft motivates and keeps its employees motivated over a long period of time.
Motivation Theory
The purpose of this paper is to explain the employee motivation process in the organization, and the reasons why each employee remains motivated in the organization and the psychological process that underpins it. According to Maslow's Hierarchy of Needs theory as well as McGregor's Theories X and Y, there are two theories that have been identified to explain employee motivation most commonly.
Importance of Motivation
The level of commitment, energy, and innovation held by a company's employees is called employee motivation. Consider the situation of an employee who lacks motivation at work. Probably, they spend more time on their phones, avoid tasks, and work at a slower pace (Perkbox, 2021). In addition to being unfocused, they don't put any energy into their work.
Motivated employees, on the other hand, are enthusiastic, driven, and passionate. Their focus is on accomplishing tasks quickly, taking action, and making sure they are doing a good
job
Theory of motivation
McGregor’s Theories X and Y
According to Herzberg, the Theory of Motivation promotes a hierarchy of needs based upon the model developed by Abraham Maslow. There were about two hundred engineers and accountants working in eleven different companies in Pittsburgh, Pennsylvania, USA in the 1950s that Frederick Herzberg and his associates interviewed extensively. The result was
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Herzberg's identification of two sets of factors that determine human behavior in the workplace (Gawel, 1996).
Maslow’s Hierarchy of Needs
Human needs play a crucial role in motivating employees in an organization, according to one of the most common theories of motivation. Psychological needs, safety needs, needs for belonging, self-actualization needs, and esteem needs can be among the needs. In the pyramid, the bottom level has basic needs such as safety and psychological needs, while the top level has complex needs such as self-actualization and esteem needs. As a result, employees can easily satisfy basic physical needs like food, water, sleep and others to keep them motivated (McLeod, 2022). In addition, encouraging employees to achieve their full potential and giving them a sense of accomplishment are complex needs that are difficult to meet, but which motivate them.
Case Study motivation at Microsoft
Microsoft is a leading company in the information technology industry that empowers individuals and entities to reach their full potential. It was founded in United States in April 1975. The goal is to enhance the capabilities of the people on the planet with basic information and systems. As a company, they aim to empower their employees to take decisions and play an active role in the company. (Microsoft, 2009) Microsoft represents communities and cultures together with the goal of achieving more.
In order to motivate employees, Microsoft implements HR policies such as diversity and inclusion policies, equal employment opportunity policies, employee training, and employee complaints procedures. Diversity and inclusion are important components of Microsoft's work culture that make employees feel valued and appreciated. Employees are treated with dignity and respect and given equal opportunities to grow based on their capabilities, as well as the company implements equality of employment opportunity policies. Employees are then
motivated to work hard and give their best effort at work as a result. The fact that Microsoft respects its employees and allows them to grow demonstrates how effectively it fulfills their basic needs.
Additionally, Microsoft has a positive environment where it encourages its employees to collaborate and continue to innovate in an effort to improve its products. It is through the giving employees the opportunity to grow in this way that the employees are motivated to grow as well. Microsoft offers employees a wide range of capabilities that can be used to accomplish goals and achieve creative activities, which allows them to effectively meet the complex needs of the company's employees. By implementing an employee centered environment, Microsoft effectively aligns with theory Y of McGregor by effectively aligning with McGregor's theories.
Conclusion
To conclude, it can be said that Microsoft effectively motivates its employees through the Hierarchy Theory of Needs and McGregor's Theory Y based on the Hierarchy Theory of Needs. Training and development, collaboration and innovation, and training and development are some of the ways this is accomplished. Employees feel valued as their needs
are met over time, leading to a sense of respect and value. The employees of the company have the opportunity to grow in the organization and show their talent to the world.
References
Gawel, J. (1996). Herzberg’s Theory of Motivation and Maslow’s Hierarchy of Needs. Practical Assessment, Research, and Evaluation, [online] 5(11), p.11. Available at: https://scholarworks.umass.edu/cgi/viewcontent.cgi?article=1066&context=pare.
McLeod, S. (2022). Maslow’s Hierarchy of Needs. [online] Simply Psychology. Available at:
https://www.simplypsychology.org/maslow.html
.
Microsoft (2009). Facts About Microsoft - Stories. [online] Microsoft. Available at: https://news.microsoft.com/facts-about-microsoft/.
Perkbox (2021). Why employee motivation is important & how to improve it. [online] Perkbox. Available at: https://www.perkbox.com/uk/resources/blog/why-employee-
motivation-is-important-and-how-to-improve-measure-and-maintain-it.
INTROD
UCTION
TO
BUSINES
S
TASK 4
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Introduction
Besides highlighting how important a finance management department is for a business, this report also highlights what these departments do. A company's profits can also be maximized in this paper, and last but not least, I will explain the benefits that long-term and short-term financing sources can bring to a company.
Financial Management Importance
A component of the funds-flow cycle that describes the dynamic flow of funds within a business organization is the funds flow, and it is one of the components of the funds-flow cycle that describes the dynamic flow of funds within a business organization. Financial management involves planning and controlling the flow of funds, to ensure that funds are transferred in an organized and efficient manner from the time of inflow to the time of outflow, from the time of inflow to the time of outflow of funds is one of the most essential functions of financial management. It is your responsibility as a financial manager to ensure a
sufficient amount of funds are available to run the organization efficiently (fixed and current assets), to allocate funds wisely to particular assets, and to plan and execute simultaneous fundraising activities (Woodruff, 2019) for both short- and long-term needs.
As part of his or her responsibilities as financial manager, a company's financial manager monitors and analyzes the organization's finances and makes recommendations for maximizing profits. An important component of a career in finance can be working as part of a team and contributing to making important decisions that will impact the organization. For this position, an individual must possess excellent analytical skills and excellent communication skills (CareerExplorer, 2019).
Source
No matter if it is a new firm or one that has already established itself, every business enterprise, regardless of whether it is a newly established firm or one that has already been operating for quite some time, requires finance to be able to carry out its various programs, including implementing new projects, expanding, modernizing, and so on as required.
Short-term financing
1.
Trade credit
An account payable lists the debts owing by a company for financed supplies and materials. In short-term credit, trade credit, or trade credit as it's also known, is a common type. In most cases, credit terms are accompanied by a discount if the payment is made on time. There is the possibility that a seller may offer a cash discount of 2 percent for payments received within 10 days of the invoice date. 30 days after the invoice date, payment must be received
unless there has been a cash discount applied. Don't miss out on cash discounts because it costs you money.
2.
Commercial bank loans
Short-term financing is primarily provided by commercial bank loans, also known as notes payable. It goes without saying that banks play an important role in the short-term and intermediate-term money markets. A bank lends money to a firm in order to provide them with additional financing. Loans obtained by businesses are no different from loans obtained by individuals. Promissory notes are normally signed by the company. According to the loan terms, you can repay the loan in full or in installments. Lines of credit are negotiated rather than approved as a single loan.
3.
Commercial paper
Another short-term credit option, along with commercial paper, is short-term debt, which include promissory notes issued by established companies. These notes are typically used to finance short-term loans by other businesses, insurance companies, pension funds, and banks.
There is a two-to-six-month tenure on commercial paper. There is generally a lower prime rate on commercial papers than on prime business loans, but institutions may differ.
Long -term financing
It is essential to take into account both debt (bonds) and equity (stocks) when deciding how to finance a project over the long term. Each company has its own capital structure that enables it to raise capital at the lowest possible price through combining debt with equity in order to raise capital at the lowest possible rate (Saeed, 2010).
1.
Secured Bank Loan
As a rule of thumb, a secured loan is when a borrower borrows money from a bank for the purpose of purchasing some type of collateral, such as a piece of property as security (Graham and Smart, 2011). Public and private companies have increasingly sought secured
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bank loans to generate funds for expansion throughout the last decade. There has been a continuation of this trend for a long time.
2.
Equity Shares
There is no doubt that public companies, as well as private companies, tend to be able to generate higher returns from equities. In Microgen Plc, equity shareholders are individuals who own shares of Microgen Plc, a subsidiary of Microgen Plc, which is owned by Microgen
Plc, as well as both. Microgen Plc relies heavily on equity shares for the financing of its long-
term operations. It is possible for an employee to own equity in a company, as well as an outside shareholder if they decide to do so. It is the owner's responsibility to participate in the
company management and to make decisions concerning the company as an owner.
3.
Other Funding Sources
Additionally, there are other sources of funding that don't require direct returns on investment
(ROI), such as donations, grants, and subsidies. The only types of investments that require direct returns on investment (ROI) are private equity and venture capital. The term "crowdfunding" can also be used for hard financing, so soft funding is also called "crowdfunding."
Basically, crowd-funding is the process of raising money for a project or business venture from a large group of people. Online platforms are usually used for crowdfunding.
Conclusion
It is without a doubt that financial management plays a crucial role in the functioning of a company because it is concerned with all the monetary pursuits that will be involved in the operation of a company during the course of its fiscal year in order to make sure that it runs smoothly during that time. The department is also responsible for determining when and where the company may need additional capital when it requires it to continue working. In addition, the department is also responsible for determining how to maximize profits when the company needs to borrow additional capital to maintain its operations and identifying strategies for maximizing profits.
Reference
CareerExplorer (2019). Financial Manager. [online] Careerexplorer.com. Available at: https://www.careerexplorer.com/careers/financial-manager/
.
Encyclopedia Britannica. (n.d.). Business finance - Short-term financing. [online] Available at:
https://www.britannica.com/topic/business-finance/Short-term-financing.
Saeed, M. (2010). Sources of Long-term Finance. www.academia.edu. [online] Available at: https://www.academia.edu/39111377/Sources_of_Long_term_Finance [Accessed 18 Aug. 2022].
Woodruff, J. (2019). Why Is Financial Management So Important in Business? [online] Chron.com. Available at: https://smallbusiness.chron.com/financial-management-
important-business-57073.html.
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