recruiting, training and motivating staff </li></li></ul><li>Customer Focus<br />The customer is always the most important person<br />Businesses need to indentify, anticipate and meet customer needs<br />
Price<br />Businesses must charge a price that customers are willing to pay <br />Products<br />Businesses must sell products that customers want <br />Marketing Mix<br />Promotion<br />Businesses must make their customers aware through promotion<br />Advertising, direct mailing, sales promotion, packaging, public relations<br />Place<br />Businesses must make goods/ services at appropriate places<br />
Unlimited Liability<br />Sole trader, partnership <br />- Responsible for all debts- must pay off all these debts using their own money or take out a loan if they can’t - may have to sell their own house or car to pay off these debts <br />
Limited Liability <br />Private limited company, public limited company<br />The shareholders:- only responsible for the businesses debts up to the amount they have invested- do not personally have to pay off these debts using their only money- this means their own possessions are not at risk<br />
Business Names<br />Can fall under 3 categories- related to a person name- related to the business- obscure <br />Registering business names- not required if trading under own name- check that your name is not already in use<br />Legal action could be faced for passing off a business name already in use <br />Name must be displayed accurately on- business letters- orders for the supply of goods- invoices and receipts- demands for payments of debts<br />
Record keeping<br />If you are a sole trader you are responsible for reporting all your income to HMR&C<br />Records must be accurate<br />Records that must be kept include- VAT- Corporation tax- Income tax- National Insurance<br />
Customer Satisfaction - Delivery<br />Offering a delivery service is an example of providing what the customer wants<br />To fulfil customer orders it is important to:- keep accurate records- deliver on agreed date- between the stated times- publish any costs involved<br />
The business benefits<br />Providing customers with an effective on-time delivery service provides a number of benefits to a business- reputation for reliability- provide free and invaluable word-of-mouth promotion- customers may be willing to pay a bit more for reliability- loyal customers make it easier to plan and invest more confidently <br />
How to firms select?<br />After short listing candidates there are a number of tools that can help:<br />Interviews<br />Aptitude tests<br />Numeracy tests<br />Visual tests<br />Letter of application<br />Curriculum vitae<br />
Training<br />Once the recruit has been chosen they must be introduced to their new environment<br />This is done through training- on the job training- off the job training <br />Four reasons why training takes place- induction - upgrading skills- multi skilling- re-training<br />
Increasing motivation<br />Job enlargement- gives workers more tasks of the same skill level- may require training and reward with higher pay<br />Job enrichment- gives the worker more responsibility<br />Good communication- so workers know what is going on <br />Good working conditions- pleasant surroundings give the impression that the employer cares<br />Job rotation- workers change jobs on a regular basis- relieves boredom<br />
Benefits of motivating staff<br />Happy staff = happy workplace <br />Could even result in happy customers<br />Motivated staff also share ideas which could improve the way the business is run<br />Two indicators of motivated staff- Absenteeism- Labour turn over <br />
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