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INTRODUCTION TO BUSINESS RODICA PIRVU
POSTER PRESENTATION
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3 HR CASE STUDY INTROD UCTION TO BUSINES S TASK 3 HR Student :RODICA PIRVU
Table of Contents
Introduction ................................................................................................................................ 3 Main Body ................................................................................................................................... 3 Benefits of motivated staff .......................................................................................................... 3 Case Study ................................................................................................................................... 4 Conclusion ................................................................................................................................... 5 Introduction
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A company's performance over time is determined by the motivation of its employees. It is well known that highly motivated employees are active contributors to the organization as well as having a great impact on the business's performance. An important function of the human resources department of a company is to create new policies and procedures that will motivate and enable the employees to work more efficiently. This essay has the purpose of analyzing the concept of HR and motivational theories in addition to the concept of HR. In addition, the essay also examines how Microsoft motivates its employees and how it ensures that the motivation of the employees remains even over a long period of time. Employee Motivation An employee's motivation can be measured by the level of commitment, energy, and innovation they possess during the workday. A particularly low work motivation employee is a good example. It's probably because they use their phones excessively, avoid tasks, and work at a slower pace (Perkbox, 2021). They're unfocused and lack energy, and they're not putting any effort into their work. The opposite is true for motivated employees, who take pride in their work and are enthusiastic, motivated and driven. In addition to completing tasks quickly, taking action and wanting to do a good job, they also want to make the company proud of them. Benefits of motivated staff A motivated workforce is more likely to produce more output in a shorter period of time, resulting in lower labour costs as a result. In addition to requiring less supervision, this company displays pride in its work, making a greater impact on the customer's perception of it. Motivated employees are more likely to concentrate better, to make fewer mistakes and to be less likely to cause accidents or to get involved in conflict than those who are not motivated. There is also a likelihood that they will show a greater loyalty to the company and will be less absenteeism in the workplace.
Theory of motivation Herzberg Theory Herzberg developed the theory of motivation based on the Two-Factor model in 1959. During his research, he found that certain factors were the true motivators or satisfaction factors, depending on the context. In contrast, if the factors of hygiene are absent or inadequate, it will cause dissatisfaction in a person. Improved hygiene factors would be able to prevent dissatisfaction from occurring in the first place, but these improvements would not alone be able to do the trick of motivating people. To truly motivate a worker, Herzberg was able to show that a company must establish conditions that will make the employee feel fulfilled in the workplace in order to motivate the employee. McGregor’s Theories X and Y In Herzberg's Theory of Motivation, the hierarchy of needs is an extension of that proposed by Abraham Maslow in his theory of motivation Maslow Maslow. Around 200 engineers and accountants working in 11 different Pittsburgh, Pennsylvania, USA companies were interviewed extensively by Frederick Herzberg and his associates in the 1950s. As a result, Herzberg identified two sets of factors that determine human behavior at work (Gawel, 1996). McDonald’s Case Study More than 58 million customers ate at McDonald's restaurants daily throughout the world, making it the world's largest chain of hamburger fast food restaurants. It is the level of energy, dedication, and creativity that each employee brings to his or her work that determines the level of motivation within the organization. It is always a concern of management to find ways to motivate employees at all times, regardless of whether the economy has grown or shrunk (Crawford, 2015). What are some of the motivational theories that McDonald's uses? A McDonald's applies Maslow's hierarchy of needs theory, which states that motivation is determined by five basic needs. According to the theory of Maslow, McDonald's applies Maslow's theory to its operations. In order for a worker to achieve their basic needs and continue to perform well in an organization, the first thing that will need to be addressed are the physiological needs.
They treat employees as individuals : During this campaign, McDonald's was the first company in the world to receive zero negative feedback related to a marketing campaign. The fact that each employee was treated like a real person, not only showed customers that they come first, but it also showed workers that they were appreciated. Similarly What benefits do McDonalds employees get?  Pay for Performance           Medical insurance of major importance.       An identification card for prescription drugs.       Insurance coverage for dentistry.   An insurance policy for vision.      An insurance policy for life.     A long-term disability insurance policy as well as a short-term disability insurance policy.      PTO and holidays are generously planned.      Accounts for flexible spending. Conclusion The conclusion can be drawn that McDonalds motivates its employees effectively by using both Herzberg's theory of needs and McGregor's theory of Y in order to achieve its objectives. In order to achieve this goal, a variety of policies and procedures are implemented, including equal employment opportunity, diversity and inclusion policies, training and development, collaboration and innovation policies, and training and development procedures. The result is that over time, as their needs are met, the employees feel valued and respected, and they experience a sense of belonging. There are many
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opportunities available for the employees in the organization to grow and display their talents. References Crawford, R. (2015). McDonald’s Restaurants puts motivation and reward at heart of business strategy - Employee Benefits. [online] Employee Benefits. Available at: https://employeebenefits.co.uk/issues/june-2015/mcdonalds-restaurants-puts-motivation-and- reward-at-heart-of-business-strategy/. 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. 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. INTRODUCTION TO BUSINESS
TASK 4: FINANCIAL MANAGEMENT STUDENT NAME: RODICA PIRVU Table of Contents Introduction ................................................................................................................................. 3 FINANCIAL MANAGEMENT ........................................................................................................... 3 SHORT-TERMN FINANCE ............................................................................................................... 4 LONG-TERM FINANCE ................................................................................................................... 4 Conclusion .................................................................................................................................... 5 REFERENCES ................................................................................................................................. 5
INTRODUCTION In this report, we are going to discuss a number of general implications relating to financial resources. It is due to my decision that I will present two major categories of financing options, long-term and short-term, that companies have the option of increasing their capital or establishing new businesses through as a result of my decision.
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FINANCIAL MANAGEMENT There are several aspects of finance including the management of money, creating investments, and studying them. By investing in securities and investments, resources can be used to fund current projects through the use of future income flows (Hayes, 2021). It is important for a number of reasons to use this management method. Ensures that organizations are able to acquire funds and plan their finances;            Allocates and utilizes funds acquired or received by organizations efficiently;           Decisions made by decision makers within an organization are based on accurate financial information;           It is the financial manager's responsibility at an organization to oversee all of the financial functions that are required in order to run the organization successfully.      It is important to understand that a business can use various sources of finance to run its operations, such as equity, debt, and debentures, retained earnings, term loans, working capital loans, letters of credit, euro issues, venture capital funding, and so on, in addition to equity, debt, and debentures (www.fao.org, n.d.). Different types of financing are available. The categories are determined by the period of time, the ownership, and the source of production.     SHORT-TERMN FINANCE Short-term financing refers to loans that are arranged for a term less than one year. Similarly, the company generates cash to operate the business and pay for smaller operating expenses through the same process (Corporate Finance Institute, 2019).
– Trade Credit The term 'time extension' refers to a period of time in which a business has the opportunity to pay for the goods or services that it has purchased after receiving them within a specified period of time. In general, payment terms of 28 days are accepted as a floating period for the payment process. This, then, allows businesses to better manage their finances (Kagan, 2019) and manage cashflows in a manner that is more efficient (Kagan, 2019). – Working Capital Loans In general, financial institutions, such as banks, will extend credit for a shorter period of time based on a number of factors, such as the nature of the business, the working capital cycle of the business, the business's records, etc. Depending on the terms agreed upon by the borrower and the lender, a loan can be repaid in bits and pieces or in full at the end of its term depending on whether the loan can be repaid in installments or in full. – Invoice Discounting I am working on arranging funds to pay for the invoices for which payment will be received shortly. Banks, financial institutions, and other third parties that collect receivables from customers are entitled to discounts on these invoices. The company will receive payment on behalf of the company by collecting payment on the due date for the invoices, and will be paid the discounted amount after the invoice has been received (Investopedia, 2019). – Factoring This type of finance arrangement has some similarities with invoice discounting. Debtor finance is the practice of selling receivables at a lower rate than their net realizable value to a third party known as a factor.
Contrary to invoice discounting, which can only be done with recourse, a contract discount can be of any type. LONG-TERM FINANCE Loans, leases, and bonds with a term of more than one year are considered long-term loans, leases, or bonds. Financing this type of project is typically required for expansions of companies, as well as for large projects. As a general rule, long-term financing is quite large (The World Bank, 2016). -Internal Accruals It is a firm's profits reserves, or retained earnings, that determine its internal accruals. It is important to note that banks and other financial institutions do not inject long-term financing into these organizations. -Equity Capital A company's perpetual capital is its interest-free capital raised publicly or privately as interest-free capital. The company can raise capital from the market by listing on a stock exchange or by obtaining a substantial stake from a private investor, or it can issue an Initial Public Offering (IPO) to raise capital from the market. -Bonds As debt instruments, bonds have two parties involved - borrowers and lenders. Borrowing money is possible for organizations, governments, local bodies, and corporations. If the loan proves profitable at a predetermined time in the future, you can redeem it at a predetermined time in the future with a fixed interest rate (https://www.facebook.com/boradsanjay, 2018). -Term Loans
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There are term loans taken out by banks and financial institutions that last for a specified period of time. The repayment period for these term loans can range from one to thirty years, so they're suitable for medium- and long-term needs. Most long-term financing is used to fund specific projects (expansions, diversifications, capital expenditures), so project financing is also referred to as long-term financing. Conclusion My opinion is that bank financing is the most advantageous since it is the most safe and can be received in the shortest time possible. Additionally, it takes a longer time to repay the loan. Increasing profits can be achieved through a variety of methods, including using promotional materials to increase sales and reducing unnecessary expenses to make the company debt-free. REFERENCES. Corporate Finance Institute (2019). Short Term Loan - Definition, Characteristics, and Types. [online] Corporate Finance Institute. Available at: https://corporatefinanceinstitute.com/resources/knowledge/finance/short-term-loan/. Hayes, A. (2021). Finance Definition. [online] Investopedia. Available at: https://www.investopedia.com/terms/f/finance.asp. https://www.facebook.com/boradsanjay (2018). Long Term Finance | Equity, Bonds, Term Loans, Internal Accruals, Venture. [online] eFinanceManagement.com. Available at: https://efinancemanagement.com/sources-of-finance/long-term-finance . Investopedia. (2019). Working Capital Loan – Definition. [online] Available at: https://www.investopedia.com/terms/w/workingcapitalloan.asp.
Jyoti Singh (2019). Long Term Financing (Definition) | Top 5 Sources of Long Term Financing. [online] Wallstreet Mojo. Available at: https://www.wallstreetmojo.com/long-term- financing/ . Kagan, J. (2019). Trade Credit. [online] Investopedia. Available at: https://www.investopedia.com/terms/t/trade-credit.asp. www.fao.org. (n.d.). Chapter 7 - Sources of finance. [online] Available at: https://www.fao.org/3/w4343e/w4343e08.htm . The World Bank (2016). Long Term Finance. [online] World Bank. Available at: https://www.worldbank.org/en/publication/gfdr/gfdr-2016/background/long-term-finance.

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