btec business level 3 unit 8 assignment 1 d1

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BTEC Business level 3 unit 8

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Assignment 1 - P1, P2, P3, M1, M2, D1

Assignment 2 - P4, P5, P6, M3, M4, D2, D3

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Unit 8 Recruitment and Selection

Recruitment and Selection Assignment 1

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2022 BTEC Business Level 3: Unit 8 - Recruitment and Selection ( Distinction*) Assignment 1

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Institution North Warwickshire and South Leicestershire Hinckley College

Study BTEC Business Level 3

Course Unit 8: Recruitment and Selection

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Subject Business

Updated On Oct 31,2020

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Resource finder, collapsible content, unit 1 exploring business.

Assignment 1 - P1, P2, P3, M1, M2, D1

Assignment 2 - P4, P5, P6, M3, M4, D2, D3

Assignment 3 - P7, M5, D4

Assignment 1,2,3 BUNDLE

Unit 1 CHECKLIST for Assignment 1,2,3

Unit 2 Developing a Marketing Campaign

Unit 2 Developing a Marketing Campaign MEGA BUNDLE

Developing a Marketing Campaign Exam Structure

Unit 2 Rebecca's Dairy Developing a Marketing Campaign Exam Example

Unit 2 Escape Rooms Developing a Marketing Campaign Exam Example

Unit 2 Team Occupola Developing a Marketing Campaign Exam Example

Unit 2 Wax Perfections Developing a Marketing Campaign Exam Example

Unit 3 Personal and Business Finance

Personal and Business Finance Presentation for ALL learning aims

Personal and Business Finance Formulas

Unit 6 Principles of Management

Bundle for Saxon Fields Theme Park Ltd

Saxon Fields Theme Park Ltd Complete Notes

Saxon Fields Theme Park Ltd Concise Notes

Challenges and Proposals for Saxon Fields Theme Park Ltd

Free Guidance and Tips for Saxon Fields Theme Park Ltd

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Distinction Example of Unit 6 The Fachetti Group PART B

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Unit 8 Recruitment and Selection

Recruitment and Selection Assignment 1

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Unit 1 – Exploring Business Assignment 3 BTEC Business Level 3 *DISTINCTION* GRADED COURSEWORK – Covers: P7,M5,D4

This document includes 31 detailed pages of Distinction* graded coursework for Unit 1 – Exploring Business Assignment 1, covering: P7,M5,D4. This assignment is on Tesco and can be used as a guide of exactly what you need to include to achieve a Distinction in the unit, saving you countless hours working on coursework. Breakdown of each part that is covered in this document: P7: Explore how innovation and enterprise contribute to the success of a business. M5: Analyse how successful the use of innovation and enterprise has been for a given business. D4: Justify the use of innovation and enterprise for a business in relation to its changing market and environment.

Business BTEC level 3 Unit 1 – Assignment 3 Learning Aim E Learning Aim E – Investigate the role and contribution of innovation and enterprise to business success Introduction: The business I have chosen to investigate the role and contribution of innovation and enterprise in the success of the business is Tesco PLC. Tesco is a multinational retail company with over 450,000 employees and 6800 stores worldwide. Tesco is a public limited company meaning that their shares are available to buy on the stock market which are currently sold at 245.70 GBX and have a market cap of £24.06B. Tesco are also the largest supermarket chain in the UK, holding 28% market share making them the market leader as their closest competitor, Sainsburys holds 16% market share, therefore innovation and enterprise pays a massive contribution to the success of the business and in this document I will identify, analyse and evaluate the roles of enterprise and innovation. Explore how innovation and enterprise contribute to the success of a business (E.P7) Also part of M5 as I have included a small analysis of how successful the innovation/enterprise was: What is innovation? Innovation in markets is where businesses come up with new ideas that will positively benefit them and boost their value. Innovation is a way for businesses to ‘out-do’ their competition to gain market share and lead the market, but is also used to increase business efficiency thus increasing profitability, increasing reputation and differentiating themselves from the current competition in the market. There are 3 main types of innovation; Product innovation – This is where businesses develop goods that had not existed in the market before or altering an existing product to improve it Process innovation – This innovation is regarding the process of production and how businesses can make the process more efficient by using new techniques or new production processes (of existing goods/services). This also includes the distribution method of getting the finished product to the customer, for example changing from petrol powered vans to electric powered vans. Service innovation – This is changing the way a service is provided, for example digital services using better/newer platforms However for these innovations to be successful the given business needs to have a deep understanding and have a high budget on finding customer needs and wants to make sure if customers are looking for innovation or new features/products that would benefit them and they would gain more utility (satisfaction) from. If businesses do not do this then it may be very costly or difficult to design/improve the product to make it appealing to the customers, and failure will be very costly. The business will also need highly experienced and dedicated staff to find the problems with the existing products/processes and then develop a strategy and a solution to them. The ideas for innovation may not just come from inside the business (managers, employees R&D), it may come from outside the business such as suppliers, media, study groups like universities and market research companies or even the customers themselves.

Innovation matrix: An innovation matrix is a visual representation/visualisation of the 4 main aspects of innovation. This is a structure and tool that businesses use to classify their innovative ideas and filter them into actual profitable goods,services or processes. Some ways businesses can improve their efficiency: Kaizen: This is an approach that businesses use to continuously introduce small incremental changes and improvements into a business, this may improve quality, efficiency of profitability. This whole approach relies on employees to be creative and to identify small but specific and valuable changes/improvements that they could make. Kaizen may be on an individual level including one or a couple of employees or it may run in Kaizen groups where there is a mixture of employees who identify specific improvements. These changes are less likely to be radically different as they are coming straight from the employees. Intraprenuership: This is where an employee is allowed to act as an entrepreneur but in an already established business. The intrapreneurs will be self motivated, proactive and motivated as they are being creative and using their own ideas. This may be achieved through giving the employees personal projects that they can work on.

Research & Development: R&D breakthroughs can help differentiate products and differentiate businesses in crowded markets, allowing them to gain a competitive advantage. This may include adding more features or improving the product to add value to the product (USP. the R&D department may find a new more efficient way to promote their product which could reach a more specific target market or appeal to them in a more specific way. Benchmarking: Benchmarking is crucial for businesses to improve efficiency and profitability because it tests how well the business is and will expose any weak points so that they can be improved. Benchmarking is the process of measuring a businesses performance (through goods, services or processes) which gives businesses internal opportunities to improve. 7 ways Tesco have been innovative and how it aided their success: Firstly the definition of ‘successful’ in business terms is for a business to provide value to all of their shareholders, whether that be through dividends, earnings per share (EPS) or a high share price. RFID chips: An RFID chip/tag is very similar to a barcode that can be read with a scanner/reader however the use of the RFID chips have a much larger scope because they are much more durable, can be placed inside products and are much easier and quicker to scan than a normal barcode. Tesco’s implementation of RFID chips into their supply chain was an example of process innovation, this is because Tesco are not changing/adapting or bringing out a new product, they are innovating and improving the preexisting processes used to supply and distribute their products to the customer. This innovation benefitted Tesco because it allowed them to more accurately track their stock inventory in their warehouses to an accuracy of over 98% and this meant that they were able to reduce their out of stock levels by 95% and also made it easier and quicker for staff to check the stock levels. This meant that Tesco could more accurately and efficiently order from their suppliers to make sure that the shelves on the shop floor were full so that customers’ needs and wants were met. The RFID technology also benefited them as it made theft much harder, boosted efficiency and greatly reduced inventory costs. This innovation aided Tesco’s success for the main reason that it offered a comprehensive omnichannel service which increased customer satisfaction and shopping experience, so this innovation not only reduced the costs of the process but also increased sales and brand loyalty. In conclusion this innovation carried low risk because RFID chips are inexpensive and very easy to use and implement. This innovation was successful because Tesco has now introduced them into 300 stores/warehouses as of 2016 and they have ordered over 200 million RFID tags from SML.

Self Checkout: Tesco has made multiple innovations in the self checkout machines. The first being the initial introduction of the self checkout in 2003 and they were the first supermarket chain to implement this into their stores. Tesco identified that customers wanted a more seamless and quick, it also allowed the customers who only shop for a few items a lot happier because it meant that they didn’t have to queue in large lines just to purchase their select few products. This innovation also made Tesco more efficient because it reduced their costs as although the initial cost of the self checkout machines greatly exceed the cost of paying employees to bag customers products, in the long run it turns out that it is much cheaper for customers to do their own bagging and pay for themselves with little to no assistance, so it made sense for Tesco to do this as it increase many customers shopping experience but also aloud Tesco to reduce their costs, congestion and meant that they could serve more customers per hour. This innovation was an example of product innovation as there were no current self checkout machines in the market before and Tesco was the first to introduce them. Therefore this was innovative because it improved customer satisfaction and the profitability of Tesco making them more successful because it helped grow the business further and gave more value to the shareholders. Another innovation of the self checkouts in Tesco is that they are now trialling (December 2020) self checkout tills that are big enough and are compatible with trolleys so that more customers are able to use them and it further reduces the long term cost of paying the wages of employees who are on the tills. This is an example of product and process innovation because Tesco have improved a pre-existing part of the customers shopping experience but also the process because it further reduces cost and the need for staff. Overall the original innovation of self checkout machines was very successful mainly because Tesco were the first to do it and they gained a good reputation and increased sales from it but also because it was a gateway for future technology to be adopted by the business. However the second innovation of the self checkout machines (extended to fit trolleys) was a success in reducing costs and making the process more efficient however many customers and employees are outraged because this further decreases the need for Tesco having lots of staff as self checkout machines essentially replace the employees and therefore many people are fearing for their jobs and have low job security which may affect their productivity and the quality of service provided to the customers. In conclusion the introduction of self checkout machines has had a big role in Tesco’s success because it was 39% faster than non-self service isles and was ‘10 times cheaper’, meaning that more customers could be served and more product could be sold which increases Tesco’s revenue and profit allowing them to reinvest it into other innovative projects. Powered by https://learnexams.com/search/study?query=aqa

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Unit 3 - Personal and Business Finance Formula matching exercise

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Great resource used by my students last year as part of their revision for the BTEC level 3 Unit 3 finance exam. Includes all the formulas needed for the exam and can be cut out to create a matching activity.

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This document includes 31 detailed pages of distinction graded coursework for Unit 1 Exploring Business Assignment 3, covering: P7,M5,D4.This assignment is on Tesco and can be used as a guide of exactly what you need to include to achieve a Distinction in the unit. Includes links to all sources used.

This document includes 31 detailed pages of Distinction* graded coursework for Unit 1 - Exploring Business Assignment 1, covering: P7,M5,D4. This assignment is on Tesco and can be used as a guide of exactly what you need to include to achieve a Distinction in the unit, saving you countless hours...

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This document includes 31 detailed pages of Distinction* graded coursework for Unit 1 - Exploring Business Assignment 1, covering: P7,M5,D4. This assignment is on Tesco and can be used as a guide of exactly what you need to include to achieve a Distinction in the unit, saving you countless hours working on coursework.

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Great resource used by my students last year as part of their revision for the BTEC level 3 Unit 3 finance exam. Includes all the formulas needed for the exam and ca. International; Resources; Education Jobs; Schools directory ... Business and finance. Age range: 16+ Resource type: Worksheet/Activity. mali300641. 1.00 1 reviews. Last updated ...