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Category: Corporate Communication
What is the meaning of Corporate?
Corporate implies something relating to a large company and business. In addition, the definition of corporate is something related to a business group or a business that operates as a single legal unit. For example,
Corporate is a culture in an office.
A corporate is a company that has filed papers and become incorporated.
Core Competencies for HR Professionals. Competencies of HR Professionals in a SHRM Scenario.
Competencies for HR Professionals
Most HRM professionals are generalists who have expertise in benefits, compensation, and labor relations and focus on important issues such as employee engagement and managing company culture. They lack business acumen and expertise in relating HR to real-world business. Additionally, they do not know how key decisions are made and are unable to determine why employees fail to achieve company goals.
Competencies of HR Professionals in a SHRM Scenario
Core Competencies for HR Professionals
The Nine Core Competencies of the SHRM Model are as follows:
1. HR Technical Expertise and Practice
Apply principles of HRM to contribute to the success of the business.
Example Behavior: Remains current on relevant laws, legal rulings, and regulations; develops and utilizes best practices.
2. Relationship Management
Manage interactions with and between others with the specific goal of providing service and organizational success.
Example Behavior: Providing customer service to organizational stakeholders ensures alignment within HR when delivering service and information to the organization.
3. Business Acumen
Understand business functions and metrics within the organization and industry.
Example Behavior: demonstrates a capacity for understanding the business operations and functions within the organization, understanding organizational metrics and their relations to business success.
4. Critical Evaluation
Interpret information to determine return on investment and organizational impact in making recommendations and business decisions.
Example Behavior: gather ethical information to make sound decisions based on evaluation of available information.
Effectively exchange and create a free flow of information with and among various stakeholders at all levels of the organization to produce meaningful outcomes.
Example Behavior: Providing constructive feedback effectively helps managers communicate not just on HR issues.
Guide stakeholders such as employees and leaders seeking expert advice on a variety of circumstances and situations.
Example Behavior: serves as a workforce and people management expert, and develops consultative and coaching skills.
7. Ethical Practice
Integrate core values, integrity, and accountability throughout all organizational and business practices.
Example Behavior: maintain confidentiality acts with personal, professional, and behavioral integrity.
8. Global and Cultural Effectiveness
Manage Human Resources both within and across.
Example Behavior: embraces inclusion, and works effectively with diverse cultures and populations.
9. Organizational Leadership and Navigation
Direct initiatives and processes within the organization and gain buy-in from stakeholders.
Example Behavior: fosters collaboration, and exhibits behaviors consistent with and conforming to the organization’s culture.
Business Report Example For Students PDF also Business Report Sample For Students.
The business report is an official document that compiles information to let other people know about it. The business report is also known as the company report. It represents the factual information of the company, including background, vision, mission, business types, target market, management team, advertisement, and more. It also provides paid capital, business growth, and profits. Usually, the organization makes a business report to use internally. Therefore, every established company has a business report for its employees and stakeholders. Sometimes, the organization uses the business business to make a collaborative agreement with other organizations. So, the benefits of a business report are vital for entrepreneurs, students, employees, and stakeholders.
The author has presented a business report example for students to understand how to write a business report. The business report example for students has been adopted from students at the University of Putra Malaysia. This example of the business report for students presents the components of the business report that are very relevant to the company profile. Usually, the lecturer advises students to write a complete business report. So, students need to create a dummy business profile to complete the assignment. The business report example for students shows their expertise in starting a new business.
This example of a business plan for students will surely help them students to complete the assignment. However, we do not encourage our students to copy the content from here. Students are advised to obtain only ideas of how to write a business report for assignments. Finally, they should write their business report.
Business Report Example For Students
1.0 Executive Summary
It shows the business overview by answering all questions regarding the company. We need to follow 5w and 1h of report writing style to write an executive business summary. Wanpaku Sandwich is a new company in Malaysia that produces and sells unique sandwiches. We have set the University Putra Malaysia as the location for the company. We have set Wanpaku Sandwich as our company’s name, incorporating the product’s symbolic sign. Although this sandwich originated in Japan, we have replicated it to make it healthy, delicious, and affordable for the clients.
We want to focus more on quality rather than quantity. Therefore, we focus on the improvement of our sandwich’s quality. It is a unique sandwich that we sell in Malaysia. Our company produces and delivers the best product and service for our customers. Surely, many people will consume our sandwich for its taste. Our primary goal is to ensure food for busy people. Usually, busy people do not get enough time to make food. So, our sandwich would help them to get rid of hunger. Our targeted customer is all UPM students, lecturers, and staff.
For the initial capital, each member contributes RM 20. So, the total starting capital of the company is RM 200. As for the store, we don’t have any other physical store except UPM. We only deliver our products to customers near UPM areas. We follow the open-order strategy via social media platforms.
For the marketing part, we promote our product through social media such as WhatsApp, Instagram (Wanpaku_Sandwich), and Facebook (Wanpaku_Sandwich).
1.1 Vision Statement
To build a high-standard food sandwich company in Malaysia and make Wanpaku Sandwich the first choice for our customers.
1.2 Mission Statement
We are dedicated to accomplishing our business objective by delivering quality products and services to customers. We produce tasty and healthy sandwiches to attract customers.
1.3 Key to Success
The keys to success for Wanpaku Sandwich include:
Reputation: we believe our customers will recommend us to their friends and family, as word-of-mouth marketing will be a powerful ally for our business.
Superior Customer Service: building a friendly rapport with our customers.
Location: cash on delivery service in University Putra Malaysia.
Product: offer sandwiches of high quality, sold at a fair price.
2.0 Company Summary
We have set our company’s logo mentioned above based on several group discussions via online meeting platforms. Wanpaku Sandwich in the middle represents our company’s name, while the two sandwiches clearly represent the product we sell. The stall icon means our company is ready to serve and provide good product quality to our customers.
However, we have changed the font and color of the logo two times because customers could not see it clearly since the font color was yellow, which is a bit bright. The font types we used previously were in calligraphy form. Therefore, we changed the font type and color to make the logo clearer to our customers and more attractive.
2.1 Company Background
Our company was established on 28 February 2020. Our lecturer asks us to form 3 groups which consist of 10 to 11 students per group. We were developing a group that consisted of 10 very talented students to run the business. After that, we are given one week to decide the type of product we want to sell. We decided to sell one type of sandwich. We have decided and come out with a unique company name, Wanpaku Sandwich.
2.2 Company Overview
Company name: Wanpaku Sandwich
Date of establishment: 28 February 2020
Location/ selling area: UPM Area
Type of business: Partnership
Start-up capital: RM 220.00
Main activities: Manufacturing and selling and product provide delivery services.
Number of staff: 10person
2.3 Introduction of Product
Wanpaku Sandwich is a healthy sandwich made with nutritious ingredients. It has an attractive appearance and delicious smell. We only prepare the product based on orders. So, customers get the food in a fresh condition. Moreover, Wanpaku Sandwich has no added preservatives or MSG. Lastly, Wanpaku Sandwich is food with affordable prices for students.
We will be taking orders before preparing and delivering them to our customer’s doorsteps. Our customers will enjoy the fresh and best quality sandwich.
3.1 Market and Research Analysis
We have collected data by survey based on more than 100 respondents in residence of Seventeenth College. The results of the study show that a lot of people want to buy our sandwiches. The seventeenth College area does not have many stalls selling different types of sandwich-like us. Based on our survey, our product’s most preferred ingredient is the chicken we used.
The company admits that one stall sells products almost like ours—for instance, a kiosk at the student plaza. However, our company is a bit different because they sell tuna egg sandwiches. In contrast, we use chicken, bigger in size, healthier, and with mouth-watering packaging. Here, we promise a wide selection of products at very affordable prices to meet customers’ demands.
3.3 Marketing Plan
3.3.1 Product and Target Market
Wanpaku is a company that sells fresh sandwiches. It is made with nutritious ingredients. Our target is mainly the residents of Seventeenth College, the students, lecturers, and staff.
3.3.2 Distribution Channel
We follow preorders and provide a delivery service that is available around Seventeenth College. Our ingredients supplier in the market packages the chickens, vegetables, and other ingredients by ourselves before selling them to our customers.
3.3.3 Promoting and Advertising
Our company deploys three different promoting and advertising strategies to increase customer awareness of Wanpaku. The first strategy will be the word-of-mouth marketing strategy. Additionally, we will run a digital marketing strategy on social media such as WhatsApp, Instagram, and Facebook. We will post our products’ photos on our social media. This will be the cheapest and most effective of our promoting and advertising programs. Finally, we will distribute flyers and put a banner on our stall during the carnival.
3.3.4 Pricing Policy
Our company has set up a policy for pricing our products to ensure that the company will gain profits from our sales products. Below are the pricing policies.
Firstly, the products are charged to all customers at the same price based on the product type.
Additionally, the price of the products must be able to give profits to the company. It is based on the cost of production with 15 to 30% of the profit margin.
Moreover, the price may change depending on customer demands on the products or if the products or if the products are having a promotion.
Finally, the price must be affordable for the customers and able to compete with other sellers.
3.4 SWOT Analysis
For example, Good communication skills
Aspiration and determination to succeed
Perseverance in handling stress and failure
Ability to deliver the product
For example, Some of the members lack experience in handling business
Lack of capital
For example, Wide marketing target
For example, a Slow internet connection
The price of the sandwich might fluctuate
4.0 Management Team
A business management team refers to an organizational structure. It can be defined as acquiring, allocating, and optimizing through planning, organizing, staffing, leading, and controlling the business. Management involves coordinating human, financial, material, and information resources to realize company goals and operate a business efficiently. Management is also considered one of the most crucial parts of the business. It manages the flow and executive of the business operation and whether the business is going well. The management responsibilities are setting strategic goals and developing policies, overseeing production processes, managing financial data, and managing human resources. For example, Netflix’s organizational chart maintains a decentralized U-form organizational structure that effectively improves its revenue.
It is necessary to set strategic goals and policies to develop a business. It determines the company’s position in the market and is set for future growth. The production department works to solve problems on the production floor. They direct employees on how to handle a dissatisfied client. It also ensures that the company operates with sufficient materials, finds areas for potential growth, and expands into new markets. Managing financial data is the regular analysis of the company’s financial status. It is essential to understand the company’s profitability and identify problem areas. It keeps the company on track and allows the manager to either cut spending or develop ideas for expansion. Sales forecasting and marketing plans are also included.
Human resource functions mean ensuring the company has enough skilled workers to maintain productivity and provide training. It also ensures workers have the necessary resources to perform at peak efficiency. Oversee regulations and policies to ensure the company operates within legal guidelines and complies with federal, state, and local regulations.
Our Chief Executive Officer (CEO) name is Haziem bin Mohamed Hatta. All members choose him as the leader of our company, Wanpaku Sandwich, established in 2020. He is responsible for watching the overall success of our business entity and making top-level managerial decisions. Hazem is the one leading the development of the company’s strategy, creating and implementing the company’s vision and mission, assessing risks to the company, and setting strategic goals. Since our business is small, he takes “hands-on” responsibilities such as hiring and staffing for the company’s operation. As a CEO, he needs to consider and listen to every committee’s opinion in making decisions and be the coordinator that resolves the conflicts and problems among the committee and company.
4.2 Vice CEO
Muhammad Haziq has been appointed as the vice CEO that will be mainly helping the CEO in his work. He has the responsibility to help to make wise decisions with the CEO. As vice CEO, he also needs to help the CEO mostly check the team manager and ensure that everyone is doing their jobs. He can lead the company when the CEO is absent and mediate between the team managers in conflict. In addition, he keeps everything on track, including the operational direction and making corporate decisions. He also advises the CEO so that every step taken is worthwhile and wise-made.
Jenny Hii is appointed as the secretary for this company due to her ability to write and deal with the letter well. She is responsible for writing the proposal and the necessary letter for our company, going through every paperwork and lastly discussing it with the CEO to finalize the needed document. She also makes arrangements for the company’s meetings and keeps all the formal records of our discussions and decisions.
4.4 Financial Team
The responsibilities of a financial manager are accounting and reporting strategic financial management. They also manage the preparation of balance sheets, financial statements, cash-flow reports, day-to-day record keeping, accounts payable, and receivable. Additionally, they ensure that the company is in line with regulations, and financial health, involving keeping track of all transactions and financial events. These records are kept safely to indicate its growth –whether making a profit or a loss. They are also responsible for making and planning our company’s financial report and statement and controlling the cash flow in our company to prevent any extra loss in money. Finally, they need to manage all start-up expenses wisely to ensure the company is working and making a profit.
4.5 Human Resource Team
As a human resources department manager, he is responsible for recruiting the staff with the skills to hold the post and perform the duties and tasks. He needs to be more aware of the employees’ condition and keep improving their skills through motivation or providing training. He also needs to keep the employees’ commitment and loyalty toward the company to achieve higher production. The human resources manager is also responsible for conducting an orientation program to adjust to their jobs and environment faster.
4.6 Marketing Team
The marketing team promotes business and drives sales of products or services. They set a target for the customer group and identify their preferences to ensure the products can catch customers’ interests. In this case, our marketing managers have developed a marketing plan to target a specific group of customers. So that the promotion and reputation of our food production are well-known and well-built. The marketing team plays a major role in connecting customers to our products, business promotions, and developing a new business plan. It is their job to reach out to prospects, customers, investors, community people, and so more.
4.7 Operational Team
An operational team undertakes some ongoing activities that are required for the provision of goods or services. In some circumstances, operational teams can work as project teams also. They are responsible for selling the products or services at the stalls or counters and even any online events together. They manage and carry out the company’s events, projects, and activities together. At the whole UPM, operational team managers is the one that responds to setting up the stalls and selling our food production to the customers at different locations. The service and getting feedback from the customers at the same time.
5.0 Location and Places
We have chosen Seventeenth College as the location of our company, whereby our members will handle cooking and packaging.
We will bring the ingredients from the supermarkets near the Serdang area, such as Tesco, Speedmart, and nearby shops. One of our members will handle this with their transportation. Hence the surveying and purchasing process will be convenient.
We have decided to pack our product at the same place as well. Once the products are ready to be sold, we will divide small groups to deliver the products to the whole UPM coverage area. The sandwiches will be sold and delivered to the following blocks: Block A, B, C, and D.
6.0 Business Plan Schedule
7.0 Purchasing Process
To ensure the satisfaction of our customers, we have discussed among ourselves which supplier is the best to provide us with high-quality raw materials at affordable prices. Thus, we have decided on the following suppliers as our raw material providers: 99 Speedmart and Tesco.
List of materials to be bought:
Raw chicken breast
White bread (Gardenia)
Breading flour (Tepung Bestari)
Eggs, Carrot, Cabbage, and Lettuce.
Sauce (Thousand Island)
Disposable food packaging
We buy cooking oil and disposable food packaging materials one week before preparing our sandwiches. Then, we immediately prepare the sandwiches and deliver them to our customers to ensure freshness.
Each team member will contribute RM20 each (RM20 x 10 = RM200) as a start-up for our business. The money collected will then be used to buy the materials needed for the Wanpaku Sandwich.
8.0 Financial Projection
8.1 Project Implementation Cost
8.2 List of Expenses
In conclusion, the business report represents a business plan for stakeholders. An ideal company report presents an executive summary of the organization, marketing plan, organizational structure, and financial projection. Sometimes, it contains company rules and regulations to inform others.