Managing Resources And Controlling Budgets Essay
Managing Resources And Controlling Budgets
Evaluate how managing resources and controlling budgets can improve the performance of Asda. It’s important for Asda to manage all its resources and control its budgets to be successful. Managing resources and budgets gives Asda more structure and stability leading to high performance and success. If resources and budgets are not controlled then many problems could occur for Asda leading to bad performance and failure. Managing the human resources department can help to build more reliable and hardworking workforce and when managing human resources appropriately can lead to highly motivated and skilled staff and can defiantly improve the business performance. E.g. at Asda it’s important to provide staff with incentives so that they feel their work is being valued and they will want to work harder to achieve targets. I believe that if the management of the human resources department is done well then that is the key element to bringing the business to success. If the staff are well trained and looked after, they will provide better customer service which in turn will attract more customers therefore they will make more money by just doing that one simple step, staff will also need to stack shelves quickly so that there is always fresh food for customers to buy.
Managing physical and technological resources well can have substantial cost saving benefits for Asda, ensuring that the building and the space inside is well maintained helps Asda work more efficiently because customers will be more pleased about changes made therefore it will give them a reason to shop at Asda and also it will make the staff pleased and stimulates them to work efficiently. It is important to have all equipment working e.g. machinery in the factories. Otherwise resources are being wasted and not used efficiently. This can have an impact on the performance because if machinery isn’t working at all this would mean that Asda couldn’t then produce its products.
Asda will need to also make sure that they have enough tills working so that customers are served quickly Controlling costs and budgets is essential so that Asda are not overspending on the budget available. Budgets need to be planned carefully in advance and contingencies need to be added in so the business knows exactly how much money is available to spend on the specific department or investment on a new product in order for a budget to be agreed on. This will ensure that enough money is available for each department to carry out their jobs in order to meet the overall aims of the business.