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Small Business Advice centre is the platform which serves the services such as providing a free and independent source of information and advice for entrepreneurs, owner manager and the self employed who are establishing or perform to run a business smooth. Not only that it will offered the guidance to the taxes, marketing, imports and cash flow management .Alongside this it also provide that can also give advice on the financial and commercial matters. A small business is the business that is privately owned and operates a business organization, with a small number of employees and shareholder which is started with a low volume of cost.
After doing a long research there are list of website that give guidance and advices which will be useful to open small business and business-starts up's.
Before launching a small business what are the things needed that must be considered. In this website it access advice and how-to guides for the specific business needs according to the business structure decided. It helps to find information to incorporate your business provincially and federally. Learn more about determining your legal structure and choosing a name for your business as well as filing taxes and other tax information's. (BizFilings, n.d.)
This website contains the raising capital or finance to open a small business like after having an idea and plan you can't start a business without a little cold hard cash. If you have it, you can always invest your own funds .Here the organization learns how to register their business, apply for federal programs, and set up a new business account. (Entrepreneur Media, Inc., n.d.).
Here, for starting a new business which provides the steps suggest for establishing a sole proprietorship or a corporation. And also there is a few things to consider your business structure that include sole proprietorship, partnership, corporation, society etc. also register your business to find a permit that apply to a specific business. (Cosmicblend Studio, 2010)
From this website it is easy to know how to write business plan and to consider a business organization. And also it helps to prepare business finance, grants & funding which helps to get started your business run smoothly by understanding business law & regulation (SBA.gov, n.d.).
Learn how to conduct market research to find out what your customers want, who your competition is, and how industry trends may impact your business. Find out how you can help your business grow and innovate like e-business. How to manage employees and how to let employees go. It helps the organization to work efficiently with skillful and highly qualified staffs. (Queen's printer For ontario, n.d.).
These are the relevant websites which had helped me to do my assignment.
Internet (research from different websites, blogs, journals, articles etc.)
Library (research from the different books, and textbooks)
E- books ( research from the electronic version of books through internet)
Lecture slide (research from the lectures slides forwarded by NCC)
Prepared the sketch ( the work done after the research is converted to the rough sketch)
Submit assignment (after completing and checking the assignment is thus submitted)
Figure 1 Project plan timescale
Figure 2 Organisation chart of project
In this organizational chart the manger is the head of this small business organization. Also being the head the organization manager should responsible for controlling or administering all part of a company or an organization that controls all the activities that is done in a whole of a business organization. Under manager there are three departments who work in the organization being related with each other. They are business management assistant consultants, marketing and PR assistant manager and administration and finance assistant manager.
Business Management Assistant Consultants
Here, a business management assistant consultant is the main department and it is responsible for providing training, delivering the advice and consulting service to the small business organization. There are three different grades in a Business management assistant consultants teams they are senior consultants, consultants, junior consultants. As a senior consultant it would be the opportunity to lead and manage the main part of a consulting agreement, planning work and activities of others and developing a positive relationship and nature with other members and senior management. Here skill management consultants work under senior consultant. It gives training skill to employees about the control of the business organization. Consultants are involved in providing objective advice, knowledge of skills with the aim of creating value of their (Fiona McNamara, 2010). And also training consultants, IT & E-commerce consultants work under consultants. It assists to the consultant and also it focuses on sharing information, training courses about business management. Junior consultant is responsible for delivering the information and consisting to the interested consultants to open the small business. In this health and safety, HR and international trade management consultants work under junior consultants. It focuses on giving free consultancy publishing booklets in order to develop more profit. And also they are responsible for ensuring all the policies that are adopted for safety.
Marketing and PR Assistant Manager
Marketing and Public relation assistant manager is the leading department in an organization. It promotes products and generates positive images for the directors or manager. It is responsible for all marketing strategies and public relation and conduct appropriate market research on competitive services and firms. It is very important for managing the relationship with customer for market strategies. New policies, scheme for the benefits of customer from which they will attract. Here sales and marketing manager, event and advertisement manager, public relation officer work under marketing manager and PR assistant manager.
Administration and Finance Assistant Manager
Administration and finance assistant manager establishes and implements administration in a correct way and in a line with organisational requirement. Also financial manager establish and implement financial procedure in line with organisational qualification. (Easely, n.d.). Actually the administration assistant manager perform certain function such as to check out the office supports for the multiple supervisors and also including the fielding telephone calls, receiving and directing visitors ,word-processing filing and faxing works comes under it as well as the finance assistant managers work is to assists the senior professional to carried out certain function such as creating financial reports, employing cash management methods and overseeing the task of investment.
The organizational structures where the employees are grouped hierarchically with a strong concept of an organization manage through line of an authority and report to the top management.
Functional organization structure is best for smaller companies or those that focus on single business or services. In this Changes are doesn't designed quickly, functional structure do well when the environment is not likely to changes or updating new ideas. Functional organization has been divided to put the high specialization, high control of rules, ideas, belief which is used to deal with the problem of business organization that turned towards high efficient (managementstudyguide.com, n.d.).
The functional areas will have personnel with different skills, but those skills are placed on their similarities. Each functional unit handle the services provided like information technology, marketing, development, etc. head of the organization is responsible for organizing the activities of two or more members so that they work together efficiently. The functional organization structure comes together with the similar knowledge in the same place. Since the employees grow within their area this leads to the development of specialist, especially in a technical field. The goal of functional structure is to put together all the people and necessary informational resources in an only one activity in one place.
The advantages of functional organizational structure are
Because of every function performing a limited number of functions the greater efficiency will achieved
It also provides an easy way for the employees to grow towards the organization as well as upward in an organizational head.
Very skilled knowledge of functional manager facilitates better control and supervision (Griffin, n.d.).
Interview Question and Recruitment method
Tell me a little about yourself?
What's been the most difficult client issue you've faced?
If I got this job, what advice could you give me to help me get off to a fast start?
You are consulting a multinational company that their major business is in India. They are considering an expansion into Nepal. What is your advice?
What are the differences/similarities between other firms you've been consulting and our firm?
What tertiary qualifications have you attained that related to Business consultant?
What is the most recent skill you have learned that related to Business consultant?
Where would you like to be in five years? Ten years?
How did you connect with the clients?
What made you choose to apply to Business Management consultant?
One other possible recruitment method could be use by me in order to select an appropriate candidate for the specific Business Management Consultant role is psychometric test. Any standardized procedure for measuring sensitivity or memory or intelligence or aptitude or personality etc is known as psychometric test. (Farlex, Inc., n.d.)Â
The field is primarily concerned with the construction and validation of measurement instruments such asÂ questionnaires,Â tests, and personality assessments. Typical tests identify the direction of interests and can be used to suggest types of jobs associated with these areas.
Attainment tests are used to assess the level of achievement in a particular area, such as in high school examinations.
Aptitude tests assess potential in some target area, seeking to discover possibleÂ futureÂ capability. This is as opposed toÂ ability tests, which seek current capability. They can be used to measure specific aptitudes or collective traits (e.g. technical, verbal, and numerical).
GeneralÂ intelligence testsÂ include cognitive studies that focus on information processing and organization of knowledge. (Changing minds, n.d.)
Components of corporate budget
Corporate budget is the budget which is made by the merge of the all budget. It is made by the head office of the budget. Here its business aims finance for the future period and plans it's chronologically to carry out operation successfully.
The main components of corporate budgets are as follows:
Sales budget is the primary and most important budget to prepare and the other budgets
are prepared on the basis of the sales budget. In this budget the in charge or expert forecast the future expected sales of the firm. For all the function carried out and worked perform sales manager is responsible. The sale budgets may prepare on the basis of the following things should be take care under care like past scales, sales man estimates, plant capacity, raw material, orders in hand, seasonal fluctuations, competition etc.
In the production budget material is the first requirement to be considered. Materials are basically divided in two categories as direct and indirect material including the preparation of estimates of different types of the raw material needed for various products and raw materials in required number at a required time. Few factors which should be taken under care such as company's stocking polices, price trend etc.
Labour is an important factor in every production organization. Labour is an important factor in every production organization which plays vital role in converting raw materials to finished products. Labour is of two types direct and indirect labour .In this budget company has to budget the required number of hours and the expected pay scales of the employees. This budget gives information about personnel specifications for the job which workers are to be recruited, the degree of skill and experience required and rates of pay. (SlideShare Inc, n.d.)
Overhead budget shows the expected cost of all production costs other than direct materials and direct labor. Budgeted variable overhead costs are based on a budgeted variable overhead rate multiplied by budgeted activity. Budgeted fixed overhead costs remain unchanged as the activity level changes within the relevant range. (Anon., n.d.)
A cash budgets is extremely important, especially for small business, because it allows a company to determine how much credit it can extend to customers before it begins to have liquidity.
An estimation of the cash inflow and outflow for a business or individual for aÂ specific period of time. Cash budgets are often used to assess whether the entity has sufficient cash to fulfill regular operations and/or whether too much cash is being left in unproductive capacities. (Investopedia ULC, n.d.)
Budgets are frequently used to judge the performance as it can be used to inform the budget process and to improve budget transparency. Not only that as conditions change, the budget should be revised so that it continues to be credible and helps in build local capacity to implement and manage the projects successfully. It is an indicator of the costs and revenues linked to each of the activities as well as it will provide the basis for technical and financial accountability. It will help to facilitate the identification and resolution of the problems in this way budgets can be used to measure the performance.
Approaches of the training requirement
One particular approach that can be taken to identify the training requirements of individual members of staff will be career or development training. Development training tends to come from development trainers themselves. This makes it difficult to distinguish between a 'definition' and a 'sales pitch'. However, withÂ optimismÂ andÂ whole person developmentÂ being fundamental values of development training, even an objective definition would need to include these as being central values (Emerald Group Publishing Limited , n.d.).
"Development training has evolved through active sharing (e.g. apprenticeship) rather than through the written word. It is fairly easy to communicate its general nature, and to illustrate by example, but it is difficult to pin it down. It is easier to describe than to define." (Greenaway, 1986). Development Training hence enhances individual effectiveness by evoking a sense of purpose, developing coping and learning skills and increasing self-understanding. Development training accelerates learning and cultivates the habit of learning from life. It embraces a range of active approaches to learning which aim to develop people's ability to learn from experience.
It is one of the types of the in-service training which will help to upgrade the knowledge, sharpen the skills and ability of each employee to help them assure greater responsibility in higher positions. As it is one of the approaches of in-service training which is process of staff development for the purpose of improving the performance of an incumbent holding a position with assigned job responsibilities? At all level for the successful extension workers and staff members it is carried out departmentally for their own continuing education and professional development. Malone (1984) opined that extension services that provide the opportunity for all staff to prepare a plan for career training will receive the benefits of having longer tenured and more satisfied employees, which increases both the effectiveness and efficiency of an extension service. Malone stated that "career development is the act of acquiring information and resources that enables one to plan a program of lifelong learning related to his or her work life". (Training and professional development, n.d.)
For designing their own career development, education, skills, the extension organization sometimes sets some criteria and provides opportunities for the staff by offering different option and sharing different ideas to carry out their futuristic problem. Training and development are especially beneficial in complex and changing environments. According to the Occupational Information Network, a training and development manager analyzes an organization's training needs; creates a training budget; implements programs and educational materials; monitors the training program's success; and modifies training programs in need of an improvement. Training may be necessary for employees, from new hires to long time employees. Sometimes training approaches may discourage because learners who could not learn effectively and utilized such knowledge may not get benefited during such training. But most of time this type of training provides self-directed learning grounded in humanist orientation very suitable to training for staffs. Furthermore, staffs are more comfortable while taken on board about in-service training that they have to undergo. Thus, the development training enhanced the co-operation among the staffs during the work which resultant positive output. (Ali, n.d.)
The three benefits of having well trained and highly qualified staffs to SBAC are as follows:
Choosing highly qualified and well staffs have knowledge of office administration and keep the record of all the information regarding transaction and financial activities of a business.
Certain skills such as excellent interpersonal skills, analytical and problem solving skills, decision making etc skills can be found on highly qualified staffs only.
As well as they will have ability to maintain a high level of accuracy in preparing and entering financial and payroll information.