The aim of this unit is to develop learner knowledge of the range of human, physical, technological and financial resources required in an organisation, and how the management of these resources can impact on business performance.
1 Know how human resources are managed
2 Know the purpose of managing physical and technological resources
3 Know how to access sources of finance
4 Be able to interpret financial statements.
|P1. describe the recruitment documentation used in a selected organisation||
For P1 and P2, learners, describe the recruitment documentation for a specified job role. They start by identifying a particular job role and obtaining application forms and job description. They then draw up a list of the requirements for the post and describe the attributes they already possess or expect to possess by the end of the course.
|P2. describe the main employability, personal and communication skills required |
when applying for a specific job role
|P3. describe the main physical and technological resources equired in the operation |
of a selected organisation
For P3, learners should be aware of the main physical and technological resources required for the operation of a selected business. If the school or college is used as the business, classrooms and computer suites would be obvious examples.
|P4. describe sources of internal nd external finance for a elected business||
For P4, the range of internal and external sources of finance should be more than just a list. The sources should be relevant to the selected business
|Sources of Finance Presentation|
|P5. interpret the contents of trading and profit and loss ccount and balance sheet |
for a selected company
For P5, learners should be given statements and be able to provide a brief written interpretation of the key elements of the trading and profit and loss account and the balance sheet, explaining the purpose of each element.
|P6. illustrate the use of budgets is a means of exercising financial control of a selected |
For P6, learners should be able to use break-even charts. They could be presented with a budget that has not been managed properly and identify the problems and suggest remedies.
|Cash Flow Forecasting Activity|
|P7. illustrate the financial state of a given business.||
For P7 learners should be able to use accounting ratios to show the financial state of a given business
|Supermarket Ratio Analysis||Vodafone Activity|
|M1. explain how the management of human, physical and technological resources can improve the performance of a selected organisation||
For M1, learners should be able to show their understanding of how resources are managed by explaining how good management of human, physical and technological resources can improve the performance of the selected organisation.
|M2. assess the importance of employability, and personal skills in the recruitment and retention of staff in a selected organisation||
For M2, learners should assess the importance of employability and personal skills to the selected organisation when they are recruiting new staff and attempting to retain existing staff. It is important that learners are able to link this assessment to their selected organisation. This may involve the selecting key skills that are most appropriate to the needs of the organisation
|M3. interpret the contents of a trading and profit and loss account and balance sheet for a selected company explaining how accounting ratios can be used to monitor the financial performance of the organisation||
For M3, learners will extend their answer to P7, demonstrating that they can apply the use of various financial ratios. They should show the formulae of the ratios and their workings to demonstrate how they have arrived at their answer.
|M4. analyse the reasons why costs need to be controlled to budget.||
For M4, learners should show an awareness of the problems that can arise if costs are not controlled to budget. This can be demonstrated by looking at a given scenario and breaking down the various elements of the budget to determine why it is overspent and by identifying the problems that this will create for the selected organisation.
|D1. evaluate how managing resources and controlling budget costs can improve the performance of a business||
For D1, learners should assess the relative merits of the methods of the managing resources and to make judgements on the effectiveness of these methods in improving the performance of the selected business
|D2. evaluate the adequacy of accounting ratios as a means of monitoring the state of the business in a selected organisation, using examples||
For D2, learners will be expected to provide additional knowledge and understanding about accounting ratios.They would be expected to provide judgements about the sufficiency of ratios as a measure of how well a company is performing.
|D3. evaluate the problems they have identified from unmonitored costs and budgets.||
For D3, learners will build on the evidence provided for M4. They will evaluate the problems they have identified from poorly controlled budgets by looking at the potential consequences for organisation arising from the budget variances.