Presentation on theme: "Learning and Teaching Approaches Advice and Guidance for Practitioners National 5 Business Management Management of People and Finance."— Presentation transcript:
Learning and Teaching Approaches Advice and Guidance for Practitioners National 5 Business Management Management of People and Finance
The following potential learning and teaching approaches present the opportunity to explore the topics in the Management of People and Finance unit in more depth. For most of the activities a range of working methods and presentation media are left to practitioner/learner choice. ICT and access to the internet could be beneficial in several of the activities. These learning and teaching approaches can be adapted to suit the needs of practitioners. The icons below act as guidance for practitioners as to the slide content and potential approaches to learning and teaching. Discuss/share Activity Information About this resource
Management of People
Welcome to Strung Out Guitars
Strung Out Guitars was established by guitar- making college buddies Louise Carruthers and Paula Russell in 2003 in Glasgow. It is an independently run guitar shop and guitar repair workshop specialising in second-hand and vintage guitars and amplifiers, and, of course, guitar repairs. Learners could watch the video interview with these enterprising business partners and use this information to further investigate specific areas of the business.
Finding people (1) Paula and Louise started their business with only two workers… themselves! As their business grew, they decided to increase the number of people in their business. Paula and Louise started their business with only two workers… themselves! As their business grew, they decided to increase the number of people in their business. Learners could be asked to find simple definitions of the term used to describe the process of attracting new workers to an organisation using online resources or through a group discussion. Learners could then idea share with a partner or in groups the different methods that can be used to make people aware of available job vacancies.
Finding people (2) Learners could focus their knowledge on Strung Out Guitars and discuss how this business may have found their new employees. Learners could discuss why certain methods of recruitment would be more or less suited to this business. This could be done in pairs or groups or using the suggested approach below. Learners could consider whether the following factors may affect the choice of recruitment method for a business: business size cost of recruitment type of job offered. Could learners use think, pair, share? Think of possible answers. Discuss them. Share ideas with the group.
Finding people (3): what happens next? Learners could be encouraged to explain what may happen after someone is attracted to apply for a specific job vacancy, ie following recruitment. Learners could work in groups or pairs to put the stages in the correct order and match them to the given definitions.
Keeping it legal (1) Following a step-by-step process isnt the only factor organisations have to remember when recruiting staff. Learners could use the web resources linked below to research legislation that they think could affect the recruitment and selection process. Learners could be encouraged to select two pieces of legislation that they think may have applied to Strung Out Guitars and could discuss why they may have been relevant to this business.
Keeping it legal (2) Learners could work with a partner to explain their reasons for choosing specific laws and how they think they may affect the recruitment process of Strung Out Guitars. The learner could be asked one question on each of their choices by their partner. Learners could then repeat this exercise listening to their partners choices and asking one question for each. Learners could use any resources available to research the key features of their chosen legislation and decide which of these features would have an effect on the business recruitment process. Learners could report on this information, directing their report to the managers of the business and advising them how to avoid breaching these laws when they recruit new staff. Tip: A local business could also be used for this activity.
Finding people (4) Strung Out Guitars have decided to recruit an administrative assistant for their business. Using internet resources, the Strung Out Guitars website and video case study, learners could work in small groups or pairs and research one step in the recruitment process. Each group/pair could research a different step. Learners could then create the necessary information that will allow Strung Out Guitars to successfully recruit and select the best candidate for this new job. The following slides give some additional hints for using this approach with learners. The following slides give some additional hints for using this approach with learners.
Finding people (5) Example: Group 1 is researching the use of job analysis. Example: Group 1 is researching the use of job analysis. Learners could approach this by: Learners could approach this by: 1)finding out how job analysis/evaluation is done using internet resources 2)researching what the detail of an administrative assistants job may be 3)applying this knowledge to the specific business or to Strung Out Guitars using the video and website to help 4)summarising the information using ICT. Group 1 has a link here to help them begin.
Advice from the experts Learners could use this additional resource to assist them with their research. Learners could use this additional resource to assist them with their research. The ACAS website (www.acas.org.uk) provides advice on recruitment and selection procedures. This can be found in the Advice and Guidance section using the search term Recruitment or under R in the Advice A-Z. Promoting employment relations and HR excellence
Possible guidelines for group/pair research: Possible guidelines for group/pair research: Job description What is included here? Where can specific details for an administrative assistants job be found online? What duties might a specific business look to include? What duties might a specific business look to include? Person specification What will this document look like? What details does it contain? Advertising the job What options are available and what is appropriate for Strung Out Guitars or learners chosen business? Receiving and reviewing applications How will the business do this? What methods will be used to decide who to interview? How will the business do this? What methods will be used to decide who to interview? Selecting the best candidate What selection methods will be the best? What methods are commonly used?
Finding people (6) When all groups have completed their research this topic could be further extended as follows. When all groups have completed their research this topic could be further extended as follows. Learners could develop a step-by-step recruitment process for the position of administrative assistant with Strung Out Guitars or a local business they have chosen. Learners could discuss how they approached this activity eg where did they find good-quality information? Learners could be encouraged to highlight the strengths and weaknesses in their step of the recruitment process and the steps that other groups worked on. Learners could collate all the researched information together to form a recruitment pack for this job, adding some company information and using ICT to present the information in a professional manner.
To train or not to train? The following is an example of an activity that could be used to discuss with learners the need for training in an organisation. The context used could be that of the new employee at Strung Out Guitars or the local business used for earlier research. Possible questions to prompt discussion could be: The following is an example of an activity that could be used to discuss with learners the need for training in an organisation. The context used could be that of the new employee at Strung Out Guitars or the local business used for earlier research. Possible questions to prompt discussion could be: Do all employees need training? Do only new employees need training? Why might all employees benefit from training? The group could be divided into Yes and No answers to allow a mini-debate to take place. The group could be divided into Yes and No answers to allow a mini-debate to take place. YES NO The Yes and No hyperlinks provide further reflective questions for possible discussion/debate.
Training at some stage may be beneficial if: employees are new to the business and need to learn about the organisation skills are out of date and need to be refreshed new work practices mean different processes or using ICT requires training for employees the business is to stay competitive. Do learners understand how training may help competition with other businesses? Do learners understand how training may help competition with other businesses? Can learners research and explain what training may cost a business in terms of finance, time, production and quality? Can learners research and explain what training may cost a business in terms of finance, time, production and quality? YES Learners could be directed in discussion/debate and/or research using the following guidance:
What effect will lack of training have on employees attitudes? How might poor-quality work and lack of training have a negative effect on employees and the business overall? How can the cost of training be justified? Can learners discuss/research who else may be affected by poor work standards? Can learners discuss/research who else may be affected by poor work standards? Are outside customers the only group who might be affected here? NO Learners could be directed in discussion/debate and/or research using the following guidance:
Costs and benefits of training (1) Costs and benefits of training (1) Using a range of resources, eg the internet, learners could research the three main types of training and what may be involved in each. Learners could then suggest which method(s) of training the new administrative assistant at Strung Out Guitars (or their chosen local business) would benefit from and why. Learners could use a form of ICT to present this information. See the following slide for more information.
Costs and benefits of training (2) Costs and benefits of training (2) Learners could study the Strung Out Guitars information again (video, transcript or website). Learners could study the Strung Out Guitars information again (video, transcript or website). Perhaps working in groups or pairs learners could discuss what benefits each of the three researched methods of training may have for (a) the new employee and (b) the business. Learners could also consider what the costs of each method may be to the business, other than financial. Learners could summarise the costs and benefits of each method of training for the business, give their recommendation as to which method(s) should be used for their new employee and, using the same form of ICT as in the previous activity, summarise this information and present it to the group.
How do other businesses train staff? Mini research project Learners could choose a business they are familiar with or that is local to them. Using a range of available resources, learners could research how this business approaches staff training. Learners could be guided in their research by establishing whether the business uses any or all of the three main training methods or whether they have their own original method of staff training and development. Learners could investigate the possible costs to the business and how the business benefits from investing in staff training. Learners could present their results to the rest of the group using any chosen method. This summary should last for no longer than 5 minutes.
Keeping your people happy (1) StrungOut Guitars have recruited their new employee and have considered training issues. How does the business make sure the employee stays with them and stays happy? Strung Out Guitars have recruited their new employee and have considered training issues. How does the business make sure the employee stays with them and stays happy? Learners could be introduced to the topic of motivating and retaining staff using the resources below. An initial discussion could centre around why it is important for businesses to motivate and retain their staff. Using the articles on KwikFit Insurance and employee benefits, learners could prepare one key statement from this information to demonstrate why motivating staff can be of benefit to an organisation.
Learners could discuss other ways of motivating and keeping staff that are not described in the KwikFit Insurance and employee benefits articles. Using the information linked below, learners could discover other methods of motivating and retaining staff. Learners could select the methods they think would be most appropriate for Strung Out Guitars (or their local business) and discuss or investigate the costs and benefits of using these methods. Learners could present their findings in an appropriate form using ICT or other media. Keeping your people happy (2)
Keeping your people happy (3) Learners could use the example activity in the Motivating business behaviour worksheet. For each option selected, learners could present their findings using different media, eg a slide show, a podcast and a flip chart for three answers that could be presented to the group. The key in this activity is for learners to find quality information that they can summarise and present briefly and accurately. Learners could be encouraged to justify their selections. This sample resource and timings could be adapted to suit learner/practitioner requirements.
Management of Finance
Take a minute (or two!) Learners could be asked to think about the following question to introduce the topic of finance: Where could you go to get funding to start up, or invest in, your own business? Where could you go to get funding to start up, or invest in, your own business? Learners could be asked to think about their responses for 2 minutes and prepare their answer to this question. The group could then discuss the range of answers that are offered and their possible advantages and disadvantages.
Sources of finance (1) Learners could investigate and research possible sources of finance using the two internet sites below and additional sites they choose. Learners could be guided to consider the costs and benefits of each source they research and discuss what costs and benefits may mean to a business.
Costs and benefits Learners could build on earlier research on sources of finance and focus on creating a list of the costs and benefits of the sources of finance they selected. Learners could work individually on their list for 5 minutes and then swap lists with a partner and study their list for 2 minutes. Learners could then discuss their information with each other or with the wider group, comparing the range of ideas from their research.
Sources of finance (2) Learners could now apply the information gathered through research and discussion to Strung Out Guitars (or to their own chosen local business). Learners could now apply the information gathered through research and discussion to Strung Out Guitars (or to their own chosen local business). Can learners recommend two sources of finance to Strung Out Guitars? Can learners recommend where additional investment funding could be found for the business? Learners could create a short report on two possible sources and use ICT to record, video or present their information effectively.
Cash flow Whether a business makes millions of pounds or only enough to survive, it needs to keep records of where the money comes from… and where it goes! Why do businesses need to do this? Learners could discuss this topic in pairs or groups and highlight the reason they feel is of most importance to a business, justifying the reasons for their choice to the group.
Learners could reinforce their knowledge of cash budgets using the exemplar budgets provided. Guidance is provided within the exemplar worksheet files. The following slide could be used as an example for learners of how a cash budget could be set up or how it may look. Learners could be encouraged to devise their own scenarios where a cash budget may be of benefit to them or to a business of their choice, and to produce a cash budget for this scenario. Budgeting and planning ahead
Cash budget for (your name) from (this month) to (6 months from now) Months Opening balance Income Wages80 Money gifts 30 Total210 Expenditure Food22 Clothes40 Fuel30 Total92 Closing balance 118
Breaking even (1) Do learners understand what the term breaking even means? Learners could research the following questions, using a range of resources: What is the break-even point (BEP) in business? Why do businesses need to know their BEP? Can learners devise a simple, real-life example to better illustrate the information they have found through research?
Breaking even (2): BEP Learners could use Strung Out Guitars to further investigate the concept of BEP, perhaps using the exemplar below. Learners could use Strung Out Guitars to further investigate the concept of BEP, perhaps using the exemplar below. A guitar sells for £100. It cost the business £65 to buy in and repair the guitar. Can learners explain how much this sale contributes towards the running costs of the business? If the total running costs of the business per year are £35,000, can learners calculate how many guitars the business has to sell at this price to cover their costs, and therefore calculate the BEP of this business? Learners could use this link for more detailed information on BEP.
Breaking even (3) In the case of Strung Out Guitars, Louise and Paula will have to work out how many guitars they will have to sell or repair in order to pay all of the overheads of running the business – rent, wages etc. In the case of Strung Out Guitars, Louise and Paula will have to work out how many guitars they will have to sell or repair in order to pay all of the overheads of running the business – rent, wages etc. If they know this, can learners explain how a sales target could be set that will allow Louise and Paula to cover their costs and make a profit each month? Can learners explain what could happen if Louise and Paula dont know their BEP? Learners could study the following example of BEP for In-Tune Guitars, Louise and Paulas competitor. Learners could study the following example of BEP for In-Tune Guitars, Louise and Paulas competitor.
In-Tune Guitars BEP exemplar Practitioners could use the following information as a guide for learners for the calculation of BEP. Fixed costs£100,000 Selling price per guitar£ 120 Variable costs per guitar£ 70 Contribution to fixed costs per guitar: selling price – variable cost = £ 50 BEP = fixed costs/contribution = 100,000/50 = 2000 units or £240,000 sales What would be In-Tunes sales target in order to cover their costs? Can learners identify this figure using this example?
BEP: try it! Learners could use the link to go to The Times 100 Business Case Studies website. Further information is provided here on BEP, with sample exercises for learners to calculate working together or individually as appropriate. The Times 100
A break-even chart explained Learners could supplement their knowledge of BEP by producing break-even charts using information from Strung Out Guitars or a local business of their choice. Learners could supplement their knowledge of BEP by producing break-even charts using information from Strung Out Guitars or a local business of their choice. Learners could discuss elements of the information given by break-even charts, perhaps using the following as prompts for discussion: Learners could discuss elements of the information given by break-even charts, perhaps using the following as prompts for discussion: Do learners understand why sales revenue begins at zero sales and zero production units? The break-even chart shows the fixed costs of the business. Can learners give examples of typical fixed costs? The break-even chart shows total costs (fixed + variable). Can learners give examples of variable costs and how these differ from fixed costs? Why do variable costs rise as production rises? BEP occurs when the level of sales equals the total costs of the business.
Calculating profit (1) Businesses need to be able to see clearly whether they are making a profit or a loss through their business activity. Businesses need to be able to see clearly whether they are making a profit or a loss through their business activity. One method of doing this is to create a Profit and Loss Statement. Learners could investigate other methods of establishing whether profit has been achieved by the business. Using the link below and other sources of information, learners could investigate what a Profit and Loss Statement will include and how this information will be used by the business.
Calculating profit (2) Learners could be encouraged to draw up a simple Profit and Loss Statement basing this on either Strung Out Guitars or a local business they may be familiar with. Learners could use internet resources to investigate what their Profit and Loss Statement should look like and what calculations are necessary. Learners could then describe each of the terms shown in a Profit and Loss Statement using a range of resources to help them with descriptions. Finally, learners could work in pairs or groups to create a list of possible costs/items that may appear under the headings in a Profit and Loss Statement.
Calculating profit (3) Learners could use the exemplar spreadsheet file and guidance to apply recent knowledge to produce a Profit and Loss Statement for a sample business, In-Tune Guitars. Learners could work individually or in pairs on this activity and then discuss their results with the group. Did everyone get the same result? If not, why not? Learners could discuss where possible errors or inconsistencies may have arisen in their work and the consequences of this for the business.