Evaluate and Improve Own Performance in a Business Environment

In: Business and Management

Submitted By hilltash
Words 2780
Pages 12
CU744 Evaluate and Improve Own Performance in a Business Environment

1. Understand how to evaluate and improve own performance
1.1 Explain the purpose and benefits of continuously improving own performance in a business environment
There are many ways in which continuously improving your own performance within a business environment can be beneficial for both yourself, on a personal note, and also for the business that you are working for. On a personal level, there are reasons such as a possible increase of income if you get recognised and get promoted as a result of this, you will be able to meet and exceed any personal goals that you may have and also one of the main benefits of continuously improving your own performance is that you will become more motivated to do your job. From a business’s point of view, improvement of personal performance means things slightly different to them. By improving personal performance, one of the main things that this will mean for the business are that you will be able to, and are more willing to; obtain the high company standards that the business have.
• On a personal level, one of the main benefits of continuously improving your own performance in a business environment is that you will be more motivated to do your job role and therefore you will enjoy your work more. After all, there is nothing like going to work and really not enjoying it. Also, the more motivated you are to do your work, the higher personal goals and standards you will have for yourself. Me, personally, have very high standards for myself and get thoroughly disappointed if these standards for me aren’t met. Linking in with the previous comment, if you don’t have very high standards for yourself, then your level of performance therefore wont be as high as it could be and therefore your chances of promotion aren’t on the same level as others in the…...

Similar Documents

Using Km and Dm to Improve Business Performance

...MEDWAY SCHOOL OF ENGINEERING Programme: Msc. Information Technology Management for Business Course: Knowledge Management and Exploitation Course Tutor: Dr. A.A.F. Al-Shawabkeh Topic Using Data Mining and Knowledge Management to Improve Business Performance By Nurudeen Babatunde Lawal 000620744 Table of Contents Content Page No. Table of Contents 2 List of Figures 3 Abstract 4 Chapter One 5 1.1 Overview of Business 5 1.2 Nature of Business 5 1.3 Business Challenges 6 Chapter Two 2.1 Knowledge and Knowledge Management 8 2.1.1 Knowledge 8 2.1.2 Knowledge management 9 2.1.3 Knowledge Management Process 9 2.1.4 Knowledge Discovery from Database 10 2.2 Data Mining 12 2.2.1 Data Mining Tasks in Knowledge Management 12 2.2.2 Data Mining and Knowledge Management in Business 14 Chapter Three 17 3.1 Implementation Challenges of KM in Business 17 3.2 Limitations of Data Mining Applications 18 3.3 Conclusion 18 References 19 List of Figures Figure No. Description Page No. Figure 1 Forms of Knowledge Organisation 8 Figure 2 Integration of KM Technologies with KM Process Cycle 10 Figure 3 DM and KDD Process 11 Figure 4 Intersection of DM and KM 14 ......

Words: 5606 - Pages: 23

Business Environment

...sheet Qualification | Unit number and title | Pearson BTEC Level 5 HND Diploma Business | Unit 3: Organisations and Behaviour | Student name | Assessor name | | | Date issued | Completion date | Submitted on | 11th March 2013 | 4th April 2013 | | | | Assignment title | OB1: Culture and Management Style (1 of 3) | ------------------------------------------------- ------------------------------------------------- Learning Outcome | Learning outcome | Assessment Criteria | In this assessment you will have the opportunity to present evidence that shows you are able to: | Task no. | Evidence(Page no) | LO1 | Understand the relationship between organisational structure and culture | 1.1 | Compare and contrast different organisational structures and culture | 1 | | | | 1.2 | Explain how the relationship between an organisation’s structure and culture can impact on the performance of a business | 1 | | LO2 | Understand different approaches to management and leadership | 2.1 | Compare the effectiveness of different leadership styles in different organisations | 2 | | | | 2.2 | Explain how organisational theory underpins the practice of management | 2 | | | | 2.3 | Evaluate the different approaches to management used by different organisations | 2 | | Learner declaration | I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student signature: Date: | In......

Words: 1745 - Pages: 7

Evaluate How Managing Resources and Controlling Budgets Can Improve the Performance of Asda.

...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. Managing resources and budgets gives Asda more structure and stability leading to high performance and success. If resources and budgets are not controlled then many problems could occur for Asda leading to bad performance and failure. Managing the human resources department can help to build more reliable and hardworking workforce and when managing human resources appropriately can lead to highly motivated and skilled staff and can defiantly improve the business performance. E.g. at Asda it’s important to provide staff with incentives so that they feel their work is being valued and they will want to work harder to achieve targets. I believe that if the management of the human resources department is done well then that is the key element to bringing the business to success. If the staff are well trained and looked after, they will provide better customer service which in turn will attract more customers there so they will make more money but just doing that one simple step, staff will also need to stack shelves quickly so that there is always fresh food for customers to buy. Managing physical and technological resources well can have substantial cost saving benefits for Asda, ensuring that the building and the space inside is well maintained helps Asda work more......

Words: 559 - Pages: 3

How Managing Resources Can Improve the Performance of the Business

...How managing resources can improve the performance of the business Managing costs is a very important aspect of managing financial resources. If expenses are not managed effectively, this can lead to low profits and the business being potentially unable to pay its expenses. Keeping within a budget, increasing income in order to cope with change, making sure that working capital is available and making sure that money set aside for emergencies is all part of the balancing exercise. Human resources Barclays HR team works to ensure that the organisation and people strategies are aligned. They make sure that all of their employees have the opportunity to grow and develop and get the best out of their jobs and careers. Strategic Human resource management is a plan that facilitates the way an organisation is being run. There are different ways in which human resources in Barclays operate but they focus their attention on three main areas of management which are; staffing, employee compensation and defining or designing work. The target of the human resource department is to optimize the effectiveness of its employee in order to maximize productivity and increase profit. The basic mission of human resources is to acquire, develop and retain talent; align the work force with the business; and be an excellent contributor to the business. The human resources department of Barclays must provide executive management with fundamental ideas that will help to not only gain market......

Words: 813 - Pages: 4

Manage Own Performance in a Business Environment

...Unit 201 Manage own performance in a business environment 1.1 Outline guidelines, procedures codes of practice relevant to personal work There are a number of guidelines and procedures in place to enable me to do my job not only to the best of my ability but in a professional manner. Whilst in the warehouse there are procedures that need to be followed. When entering the building, I need to sign a fire register with time I’ve arrived and also every time I leave the building, even if I go out only for a launch. In case if there is a fire. Before entering a shop floor, I got to wear Hi-Viz (High Visibility Vest), for anyone being able to see me, especially for truck drivers. It must be done to avoid accidents. Also if I’m not wearing Safety shoes (hardtop toe shoes), I must stick to walk ways at all times and keep a good distance from any trucks or moving objects. 1.2 Explain the Purpose of planning work, and being accountable to others for own work Planning is essential to manage my time to complete the actions of my work. Planning helps to be organised on a day to day, weekly and monthly basis. While planning I have to obtain as many details about the piece of work I do to enable myself to produce work as efficiently as possible. I can write my plans down on a to-do list - Writing down everything has two purposes. Firstly, I’m planning my job and the tools I need. Secondly, I’m making a written account of my job for others to see. In......

Words: 1979 - Pages: 8

Business Environment

...National Environment Assignment 1 Name: Le Tung Lam Roll Number: GH12142 Class: GM02103-GM02104 Contents I. Introduction 2 II. Analysis 2 1. Understand the organizational purposes of businesses (LO1). 2 2. Understand the nature of the national environment in which businesses operate (LO2). 14 Bibliography 21 I. Introduction Organisations are part of human society and, like people, are subject to rules their conduct towards others; in our lives, everyone has contacted with many forms, types of organisations with different purposes and objects; The business organisations that people contact range from many different giant multinational organisations, employing thousands all over the world, and it will have a turnover larger than other nations gross national product, to modest another small business organisations just has a few people and organise in a small locality. In this report, we need to identify purposes of different forms, types of organisation and to investigate the national environment in businesses operation; specific is research the different of economic system between organisations in different countries, PepsiCo (United State) and Techcombank (Viet Nam) is the choice to support my future investment decisions. II. Analysis 1. Understand the organizational purposes of businesses (LO1). 2.1. Identify the purposes of different types of organization We need to understand some elements that are the factors to evaluate......

Words: 5491 - Pages: 22

Business Environment

...Lela Jones Business Environment Task 1 1.1 Identify the purposes of different types of organisations. A business organisation is a collection of people, collaborating in a coordinated, structured and managed way to meet shared aims and goals. Organisations will come in all shapes and sizes, but will all have a common factor of goal orientation. “A system that coordinates people, jobs and technology and management practices to achieve a goal” Umstot (1998). A business will always be owned by someone whether it’s an individual or hundreds, with different types of ownership and objectives. Although profit may not always be the main objective, as those of charities or government run enterprises, some profit will need to be made for them to continue in business long term. The majority of organisations will aim to make a profit however small or large. There are many types of business organisations, including sole traders, partnerships, public limited companies, private limited companies, franchises and those in the public sector e.g. local authority and N.H.S. Sole Traders This is a business owned by one person, and the most common according to BIS (Department for business innovation and skills statistical release 2013), its estimated 62.6% of UK businesses are sole traders, but as there is no central register for them it is hard to establish exact numbers, a sole trader will employ one or more people, and can easily be set up compared to other types of organisations,...

Words: 4466 - Pages: 18

Business Environment

...Business Environment Student Name Student ID Purpose of Submission Submission Date   Introduction 3 1.1 Identify the purposes of different types of organization. 4 1.2 Describe the extent to which an organization meets the objectives of different stakeholders 5 1.3 Explain the responsibilities of an organization and strategies employed to meet them. 6 2.1 Explain how economic systems attempt to allocate resources effectively. 7 2.2 Assess the impact of fiscal and monetary policy on business organizations and their activities 8 2.3 Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organization. 9 3.1 Explain how market structures determine the pricing and output decisions of businesses. 10 3.2 Illustrate the way in which market forces shape organizational responses using a range of examples. 10 3.3 Judge how the business and cultural environments shape the behavior of a selected organization 11 4.1 Discuss the significance of international trade to UK business organizations. 11 4.2 Analyze the impact of global factors on UK business organizations. 12 4.3 Evaluate the impact of policies of the European Union on UK business organizations. 12 Conclusion 13 References: 14 Introduction Every field regarding inquiry goes by using a life cycle; a fresh idea emerges, it develops into a growing body regarding literature along with either will keep for you to grow as......

Words: 4001 - Pages: 17

Business Environment

... Business environment Introduction Business environment is the combination of two factors internal and external. These two factors influence a company’s operating situation. In other words business environment is the sum of living person, location and natural resources. In business environment internal factors include five M’s such as, man, material, money, machine and management. These internal factors change the function of business. External factor are those factors which are beyond the control of business enterprise. These external factors are government factors, legal factors, physical factors and demographical factors. External environment or factors are also two types, micro environment and macro environment. Micro environment consist of suppliers, customers, market intermediaries, competitors and public. Micro environment is also known as operating environment. Another external environment or factors macro environment consists of non-economic environment, political environment, technological environment and socio-cultural environment etc. Business environment has some typical characteristics. It is a constantly changing system. Both short term and long term impact works on business environment. One of the most important characteristics of business environment is uncertainty. Task1 1(a) Identify the purposes of different types of organization There are many different types of organization in our socio-economic life. One organization is different from another......

Words: 2647 - Pages: 11

Business Environment

...The nature of the national environment in which your chosen business operates 6 2.1. Explain how economic systems attempt to allocate resources effectively 6 2.2. Assess the impact of fiscal and monetary policy on business organisations and their activities 7 2.3. Evaluate the impact of competition policy and other regulatory mechanism on the activities of a selected organisation 7 Task 3. The behaviour of your chosen organisation in its market environment 8 3.1. Explain how market structures determine the pricing and output decisions of the business 8 3.2. Illustrate the way in which market forces shape organisational responses using a range of examples 8 3.3. Judge how the business and cultural environments shape the behaviour of a selected organisation 9 Task 4. The significance of the global factors that shape business activities of your chosen organisation 10 4.1. Discuss the significance of international trade for your organisation 10 4.2. Analysis the impact of global factors on your chosen organisation 10 4.3. Evaluate the impact of European Union policies on your business organisation 11 Part B 12 Task 5. Report 12 a). how the downturn in the UK economy since 2008 and the double dip recession has impacted on your chosen organisation 12 b). how should your chosen organisation respond to these changes 12 Part C 14 Task 6 14 a.i. Potential impact of fiscal changes 14 a.ii Monetary policy 14 a.iii. International environment 14 b. Respond to......

Words: 3922 - Pages: 16

Understanding the Management Role to Improve Management Performance.

...Understanding the Management Role to Improve Management Performance. Understanding the specific responsibilities of middle managers in enabling an organisation to achieve its goals. AC 1.1 Describe the Goals and Objectives of your organisation. We have both Goals and Objectives at multiple levels throughout the Cromwell Group. From a company point of view the ultimate Objective is to reach the target of “£600m by 2020.” The Goal of the company is “Our goal is to help you reach yours”. The objective is to a degree a SMART objective if you break it down however there are points that do not conform: Specific – Yes £600 Million is a specific value Measurable – The statement is measurable as we are currently at £297 million the difference between the 2 figures can be calculated. Achievable – We could achieve the £600 however not in our current state. We have a lack of space, technology and understanding of the way forward due to some values held by the owner. Realistic – In our current state without a major investment from the business or without an acquisition it is not realistic. Time-bound – With a target date in place yes it is time-bound. In summary without an investment from the company in a number of areas namely Technology we will not be able to move closer to that magical figure of £600 million. We continue to strive to be the best in our area however we are struggling with issues that a number of other logistics companies have overcome many years......

Words: 2105 - Pages: 9

With Reference to Your Own Research Do You Think That Takeovers and Mergers Inevitably Improve the Performances of the Businesses Involved?

...With reference to your own research do you think that takeovers and mergers inevitably improve the performances of the businesses involved? Mergers and takeovers are similar corporate actions combing two previous separate firms now formed into one legal entity. A takeover revolves around gaining control of something, especially the buying out of one firm/company by another while a merger contrasts as it includes a combination of firms where there is a mutual agreement of two companies to combine and become one entity. At first glance it may be viewed that takeovers and mergers will certainly really benefit all firms and performances of business involved will improve although there are lots of considerable aspects involved in both takeovers and mergers that must be identified and may highlight that businesses will certainly benefit from takeovers and mergers. It is also important to recognise and define what is actually meant by ‘performance’ or firms. Performance or business often revolves around quantifiable terms used to assess how well a firm is achieving its objectives. Many businesses can often measure its performance in terms of obviously its revenue, market share, market capitalism (culminative value of all shares), production, demand and operating efficiency in order to get more sense of how their business is operating and whether and improvements are required but they may also measure the performance of a business in more tangible terms including its innovation,......

Words: 1261 - Pages: 6

Business Environment

...cvbnm Business Environment Assessor: The Business and Environment Date Submitted: 12/01/2015Student Name: Student ID: | Contents Introduction 2 Task 1 Identify the purposes of different type of organisation 3 Private limited company(LTD) 3 Public limited company (PLC) 4 Government department (Public Sector) 4 Charities 5 Task 2 6 1. Describe the extent to which an organisation meets the objectives of the different stakeholders 6 2. Explain the responsibilities that the Shell organisation has and the strategies they employ to meet these responsibilities: 8 Task 3 Evaluate the impact of competition policy and other regulatory mechanism on the activities of a selected organization 9 Task 4 10 1. Judge how the business and cultural environments shape the behaviour of a selected organisation. 10 2. Analyse the impact of global factors on UK business organisations. 11 Task 5 Evaluate de impact of two policies of European Union on UK business organisations 12 Conclusion 13 Reference list 14 Introduction An individual or a group of people that works together to achieve certain objectives represents a business organisation. Those business organisations are created to make profits for owners. Another type of business organisation is the non-profit business organisations which are designed for public purposes. Those businesses raise money and use different resources that support public purposes. (Neil Kokemuller, 2014).The business......

Words: 4002 - Pages: 17

Business Environment

...A report on “Business Environment” Date:___________________ Submit to:________________ Table of Contents TASK 2: Nature of the Operating Business Environment………………………………..…3 Introduction………………………………………………………………………………….3 1.1 Explain how economic systems attempt to allocate resources effectively………………3 1.2 Assess the impact of fiscal and monetary policy on “Lloyds Banking Group, UK”, and their activities………………………………………………………………………..5 1.3 Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a “Lloyds Banking Group, UK”....................................................................................7 References…………………………………………………………………………………….9 TASK 2: Nature of the Operating Business Environment Introduction: The study discusses different types of economic systems and assesses how these economic system attempts to allocate resources efficaciously, explains the UK government policies (namely monetary, fiscal, social, and competitive policies) and assess the effect of all the above-mentioned policies on a “Lloyds Banking Group, UK”, UK based organization. The paper exposits market structure types (namely, perfect competition, monopoly, monopolistic competition, and other market structures. Finally, the paper describes the ways market structures define the output and pricing strategies of the companies. 1.1 Explain how economic systems attempt to allocate resources effectively Economic......

Words: 1822 - Pages: 8

Business Environment

... Business Environment Table of Contents Introduction 3 Task 1: Introducing Barts Health NHS and its industry and knowing its environment. 4 P1.1 Knowing the background and nature of Barts Health NHS. 4 P1.2 Competitive position of Barts Health NHS in the health care industry. 6 Task 2: Evaluate and explain how managers try to motivate their staff, in order to retain and improve their position in the sector that they compete. 7 P2.1 Use of two factors theory and X&Y theories and Vroom’s theory to motivate staffs of Barts Health NHS. 7 P2.2 Steps taken by managers based on the theories to improve current position. 9 Task 3: Analyzing policies of Barts Health NHS and applying them in improving position. 10 P3.1 Knowing and analyzing recruitment and selection policies of Barts Health NHS. 10 P3.2 Analyzing how the policies help in improving the position of Barts Health NHS. 12 Recommendation 13 Conclusion 13 References 14 Introduction Health care is a basic human need. This necessity for health care has caused improvement of this industry. Every problem and related research has improved the aspects of this industry. However, the quality is important in health care industry. The quality depends on using of modern technologies, improving employed personnel and improvement of environment. The improvement in environment of health care service has reduced complexities and helped patients to get cured quickly. Improved environment is neither necessary nor luxury for......

Words: 3465 - Pages: 14