ILM Level 5 Diploma in Management
Improvement Report (M5.01, M5.02, M5.03)
Joanne Waylett
Contents
Terms of Reference …………………………………………………............................... Page 3
Introduction …………………………………………………………………………………. Page 4
Research Methodology ………………………………………………………………………………. Page 5
Improvement Action Plan …………………………………………………………………………… Page 5
Schedule of Actions …………………………………………………………………………………. Page 7
Recommendations
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The financial department have been asked to carry out analysis all invoices from the past year to provide data on where wastage is taking place.
Human resources have surveyed all employees and asked them to provide feedback on areas where the business can improve.
Tendering managers have been asked to look into ways we can make tenders to the local authority more cost effective while preserving quality, by being more competitive the organisation intends to increase the number of contracts secured.
Possible Solutions Considered To Improve Overall Financial Efficiency
Before deciding what strategic plans to adopt to increase financial efficiency within the organisation Human Resources and senior management held a meeting and discussed suggestions obtained from both employee and customer feedback in ways the organisation could save money.
Possible Strategy’s To Consider
A Redundancy’s
B Move outsourced recruitment activity’s back in house
C Close 3 least profitable Branches
D Employ customer service offices
E Improving staff well being
F Improve IT communication systems
Senior management initially predicted the timescale of each strategy by benchmarking against similar projects in
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| The customers would be influenced because if the company are financially struggling the customers are there only hope to stay profiting. If the company was to go bust it means customers will no longer be able to shop there. The customers would be an external stakeholder, they can get information by advertisements and even check their annual report on the businesses website.
1. In order to implement an organizations commitment to social responsibility it is necessary to identify what social problem the organization intends to address, develop policies on what the organization plans to do to successfully fulfill its obligation and ensure stakeholder buy-in. The main obstacles an organization faces when implementing socially responsible policies is pressure from stockholders and business analysis who want steady increase in earnings. Without steady increase in profits, it becomes difficult to reinvest money in these areas. The following actions can be taken toward increased social responsibility:
Telephone – A telephone maintains a few different features rather than just receiving and making calls. At work the phones that we use are often different to
There are several different types of business ownership which are most commonly used in business’ and company’s today, these include; Co-operative which is a business owned by its employees, Partnership which is a business owned by between 2 and 20 people, Private limited which is a business owner by a small groups of people who have shares and a Public limited business is owned by private individuals by shares bought and sold on the stock market. A charity is a business with the purpose to help the public, the government is a business owned by the government and lastly a sole trader which is a business owned by only one person.
To organize and prioritize the current and future projects in the pipeline in a way that fits into the PMB budget of $5B, and ensures projects that increase sales, growth, and stockholder value are of top priority, whereas projects that are not beneficial are either put on hold or discarded.
• The first thing you need to do is save a copy of this document, either onto your computer or a disk
In this task I’m going to analyse the figures on cash flow that I created in P3 and justify why you think the business might have problems also provide range of solutions.
Please note that this Assessment document has 8 pages and is made up of 7 Sections.
Within this assignment I will describe my understanding of the links between management and leadership, the skills and styles of management and leadership, the application of management and leadership theories in an organisational context and planning for the development of management and leadership skills.
A way of doing this task efficiently would be to keep a log setting out of the roles that you and the other members of the team have within the team in which you are working as a part of.
M1 - Compare the purposes of the different documents used in the selection and recruitment process
M2(Unit 37) - Assess the social implications of business ethics facing a selected business in its different areas of activity
Coaching allows an individual to ‘unlock’ their potential through use of questioning techniques to find their own solutions and develop
The company that is listed as number one on the Fortune 500 list is Wal-Mart. This company has much strength that makes it very interesting for investment. Wal-Mart was founded by Sam Walton in the 1950’s and faced competition among many regional discount stores. In 1962 Wal-Mart officially began with its first store in Rogers, Arkansas. Wal-Mart now has over 600 discount stores in the United States and stores located in 28 countries. No matter the size of the company its purpose has not changed over the years. Mr. Sam Walton said, “If we work together, we’ll lower the cost of living for everyone... we’ll give the world an opportunity to see what it’s like to save and have a better