Ramona Ana Bran (1)

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University of West London *

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HUMAN RESO

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Business

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Nov 24, 2024

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RAMONA ANA BRAN Table of Contents Executive Summary ............................................................................................................... 3 Contemporary Research ......................................................................................................... 3 3. Aldi ................................................................................................................................. 4 Business Ethics ....................................................................................................................... 5 Class Discussion ......................................................................................................................... 6 Introdu ction to Busines s Operati ons and Manage ment BMM 3003

RAMONA ANA BRAN Executive Summary The purpose of my paper is to create a portfolio that includes certain topics that should be covered during the ten weeks of school. For each week we had a certain topic and we had to do some research to solve each requirement and task separately. In the following I will outline the importance of research and sources of information when it comes to supporting the arguments I make. Contemporary Research I have selected an article that discusses the economic impact of Brexit in the UK. I chose the most pertinent information and presented my opinion. Brexit is the name given to the British withdrawal from the European Union. The Brexit campaign won the June 23, 2016 in-out referendum regarding membership in the EU. As part of the United Kingdom's exit from the European Union on 31st January 2020, a trade agreement was signed that same month.

RAMONA ANA BRAN Businesses have been forced to endure higher costs, more paperwork, and border delays due to Brexit, according to a new study. According to a new report, 61 percent of UK firms are experiencing difficulties due to Brexit, which is resulting in increased costs, higher consumer prices, and a loss of competitiveness. One-third of exporting firms reported that Brexit has decreased sales to the EU, while almost a quarter said that imports from the continent have declined. Furthermore, the study by the London School of Economics drew upon real-time business survey data from the CBI from March until April, beyond the temporary effects of the exit from the single market and customs union on 1 January. According to a recent study by the LSE's Centre for Economic Performance, 37 percent of UK firms are experiencing delays due to Brexit. The majority of respondents (36%) reported incurring additional customs and administrative costs. It was suggested in the report that this may be due to general uncertainty about tariff policy following Brexit, or to the fact that the UK has only been able to roll over 63 of the 70 trade accords it had with third countries while it was a member of the European Union. According to the report, Brexit is likely to have a significant impact on services trade, although data is not yet available. From my point of view, as a solutin, the government should seek to support businesses in the transition to new trading relationships and to ensure that the increase in border costs is minimised Another example, earlier this week, Johnson argued that the UK was the first country to begin immunizing its citizens against Covid-19, at least in part because of Brexit. According to Mr. Foster's claim in the Daily Mail, the UK is "coming out of Covid faster than virtually any other European country," owing to the successful roll out of vaccines. Having chosen to walk our own path as an independent United Kingdom enabled us to achieve our goals, he asserted. Unfortunately, this claim has been questioned. According to the BBC, the UK's own medicines regulator, the MHRA has confirmed that the country's ability to develop the new vaccine is permitted under EU law. 3. Aldi It is imperative that Aldi's business model be designed with a specific customer in mind in order to achieve such low prices: someone who desires low prices in a fast-paced shopping environment and is willing to sacrifice choice and convenience in order to achieve such low prices. Aldi maintains their grocery prices on a consistent and predictable basis at the same level as their competitors in order to appeal to this type of clientele. In 35 states, Aldi operates nearly 1,800 stores, most of which are located in the Midwest, the Mid-Atlantic, Florida, and California. As of 2022, it will have 2,500 retail locations, making it the third largest grocery chain in the United States, behind Wal-Mart and Kroger. With its low-cost business model, German supermarket chain Lidl is also attempting to penetrate the US market.

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RAMONA ANA BRAN Such a business model may be successful in a variety of industries, including restaurants, fast-food chains, fashion, and small businesses. An essential component of this business model is that products are delivered daily or frequently so as to keep product variance, waste, and freshness low. Compared to a restaurant or fast food chain, they should offer a limited menu with less variety, which will result in quicker service and the ability to concentrate on customer service rather than marketing and offering rewards programs. By offering only a limited menu with limited customization, they prevent mistakes in meal preparation, thus allowing for quicker service as well as reducing food waste. It is possible for them to provide fresh meals with daily stocking as a result of regular stocking since it requires less storage and freezer space. Consequently, the company is able to provide low- cost meals and quick service, and customers are enticed to visit again. An organization that has the right business strategy that reduces costs while increasing revenue, along with effective operations management, can become profitable. In order to maintain a balance between production and efficiency, it is important to minimize expenses across the entire business. Time, space, effort, and energy are all areas in which the organization can save money. Business strategy for the company is based on lean thinking principles. Business Ethics Management ethics can be viewed from three different perspectives. 1. From a consequence-oriented perspective Managers use this method to double-check their choices. Here, the focus is on the actions themselves rather than the reasoning behind them. Results are evaluated both positively and negatively. Businesses have the right to make decisions if the benefits outweigh the disadvantages. The managers conduct a thorough analysis of all possible outcomes before deciding on a course of action. For example, bringing a particular event to a particular location may generate greater revenue from fees or donations. It is true that boxing can be an exciting activity, but it has a negative impact on many residents. Moral Rights In this method, managers adopt a moral code that protects both natural and human rights. Essentially, it encompasses both the right to express one's feelings as well as the right to freedom of expression. Management needs to know the information contained in annual reports. Information is released according to the timing and validity of the information. A discussion takes place between two female colleagues over a pile of papers. Managers may observe that some employees find it difficult to attend formal training sessions. This could be due to a lack of essential abilities. Involvement may also be an issue. Individuals may find themselves in debt. Affirmation of Social Justice

RAMONA ANA BRAN According to the social justice approach, managers strive to ensure equality and fairness. The workplace is free of caste, religion, race, or gender discrimination. Different levels of performance or abilities, on the other hand, are justified. Workers of all genders are equal, for instance. Nevertheless, it is reasonable to reward employees who are more productive than those who are less productive. Real-life example Microsoft's founder Bill Gates and Berkshire Hathaway's CEO Warren Buffett rank among the world's wealthiest individuals. A large portion of Warren Buffett's $88.8 billion fortune will be donated to charity. In June 2019, Berkshire Hathaway stock valued at $3.6 billion will be donated to the Bill & Melinda Gates Foundation, as well as three other charities. Bloomberg estimated that $34 billion had been donated by Buffett when he made his pledge to donate his entire wealth in 2006. In contrast, Vox reports that Bill Gates intends to donate virtually all of his $103.7 billion fortune. Furthermore, Melinda and Bill Gates have already donated $45 billion. In consequence, Gates could be the world's richest individual if he were not a philanthropist. In contrast, Jeff Bezos, the CEO of Amazon, has become the richest man in the world as a result of Gates' principles. Class Discussion Generally speaking, human resources (HR) refers to the management and development of employees in an organization. The goal is ultimately to increase employee performance. The HR department was traditionally concerned with hiring, firing, and the annual review of salaries. However, HR has recently been reframed in a positive way and has been granted a wider range of responsibilities. Furthermore, HR plays a significant role in developing positive business cultures and improving employee engagement and productivity. Additionally, HR is responsible for ensuring employee health and wellbeing. In the absence of human resources, a company will find it difficult to develop and maintain a solid relationship with employees. HR enables communication between company management and employees and enables employees to vent their frustrations with the company and report wrongdoing. In the absence of human resources, your company must create a method of communicating with and listening to employees. It may be difficult to devise a strategy to handle each employee when you have a large number of employees, such as more than 50. Whenever employees become dissatisfied with the company or their jobs, production can decrease and revenues can decrease. A lack of human resources can also lead to poor employee relations, which can make potential employees reconsider joining your company. Managers and owners benefit from human resources management since it relieves them of the stress involved in finding qualified employees for available positions. An alternative to

RAMONA ANA BRAN recruiting candidates, interviewing them, and performing background checks is for owners and managers to focus on their daily tasks and leave the hiring process to the human resources department. In most cases, having human resources is an advantage only if you run a large organization with a large number of employees. An owner or manager of a small business can usually find candidates without taking too much time from their daily schedules. From my point of view, I think it is the most important department, because it deals with all the documentation and the hard things behind an organization, namely, employment contracts, job descriptions, medical leave, in conclusion, all the necessary documents. Sometimes it is difficult and I consider that only specialized personnel are needed. My presentation highlighted the functions of this department, what are the advantages, but also the disadvantages if a company does not implement this department, which, in my opinion, should have a prominent place in the organizational structure of the company. Reference https://www.theweek.co.uk/brexit-0 https://www.breathehr.com/en-au/blog/topic/business-process/why-is-human-resources- important https://smallbusiness.chron.com/advantages-disadvantages-not-having-human-resources- 18696.html

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Ramona Ana Bran (1)

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