If manage effectively then it would keep profits high. Technological Technological resources are needed in order to keep the business running. Funding for the business needs to be managed as without it the business would solely rely on profit to keep their business running.
It is essential for them to manage human resources as employee performance directly affects the performance of the business. Financial resources need to be controlled and managed as they are in charge of all the money within the business.
Allow me to explain. This is because, if it is controlled it can be updated leading to the business being able to branch out and advertise world-wide, sparking the interest of prospective investors helping boost the overall look of the company but also help bring more money into the business.
Subway is heavily reliant on its human resources to keep the business profitable. You must make sure you look ahead for example if you know some of your part time staff will be leaving you need to make sure you leave a slice of money in your budget to cover costs for recruitment for example there may need to be more advertising in order to find the right person.
The controlled budget will let the company see if it has the financial resources to expand and make more chains. Problems with this would be that some employees may not be trustworthy enough to look after this money as some may take the money out the till.
If customer service is good then it means the customers will be happy therefore will return to the store therefore end up spending more money and the business will make more of a profit Advertisements.
The air con makes the employees more comfortable and relaxed so this increases their morale and motivation which helps the business performance. Each business resources i have discussed can be managed easier by the employees having good motivation, and it will lead to e greater performing business.
Without technological resources production of coldhot drinks would become a lengthier process. This is mainly food. These include air con and the television. It is important that subway have inductions and training for employees when new equipment and machinery is in placed in store.
A problem with managing physical resources is that it may take extra time and money to train staff in the correct cleaning procedures.
Firstly is Physical resources Their are many physical resources in subway stores.
Human Human resources are the employees who work in the business. This is an example of an improved business performance. Whereas physical resources can cover anything from the building for the production lines and stores to the staff recreation room. Customer service is a necessity for trying to sell merchandise to the public as there is always problems or concerns that need to be dealt with and this is down to customer service.
As well as this The budget sets out how much each department has to spend. There are not many of these in subway but they need to be managed to keep the business running.
This will make the business more motivated to hit their targets and objectives as they are more achievable. This is why it is imperative that it lasts for as long as it can. When head office is notified with this information about an over supply of materials it will investigate this to sort out the problem which will save money.
Without technology, workers in both production and manufacturing would struggle to keep up with the high demand and still keep the highest of quality of the drinks.
This would than be wasting the companies money as they would be paying the staff to damage the stores reputation and push away customers. They also have a very good reputation and are also a highly profitable business. (D1) Evaluate how managing resources and controlling budget costs can improve the performance of a business.
Evaluate how managing resources and controlling budget costs can improve the performance of a. Apr 07, · I am going to evaluate how managing resources and controlling budget costs can improve a business’s overall performance. I will evaluate the effects of human resources, technological, physical and financial resources that have on a business’s overall performance.
Dec 03, · Managing resources and controlling budget costs can improve the business performance in many ways.
All businesses need to control their budgets but especially large businesses for example supermarkets such as Tesco. This is because if budgeting isn’t done correctly it won’t just effect one business but it’ll affect the whole chain.
Below is an essay on "D1: Evaluate How Managing Resources and Controlling Budget Costs Can Improve the Performance of a Business" from Anti Essays, your source for research papers, essays, and term paper examples/5(1).
Managing the resources of an organisation and looking closely at its budgetary control is absolutely vital in business. It improves performance over every department and gives the business management team a clear view on where they can expand and develop in the future.
D1 – Evaluate how managing resources and controlling budgets can improve the performance of Asda. It’s important for Asda to manage all its resources and control its budgets to be successful.Evaluate how managing resources and controlling budgets can improve the performance of a business