Assignment Scenario
Before progressing onto university to study International Business, you have managed to secure a 4-month management internship with a prestigious company in Oxford, England. Verto is a relatively small UK-based electric vehicle manufacturer focussed on making small, affordable electric cars and commercial vehicles. It has run the internship scheme for several years, offering just 10 places a year.
If you complete the internship successfully, it will increase your chances of joining Verto’s graduate recruitment programme.
Your responses to the tasks should be based on real businesses that you are familiar with. The businesses need to be Small Medium Enterprises (SMEs), although some sole traders may not be able to provide sufficient information required for the tasks.
Task
The Head of Human Resources at Verto, Kareem Akram, is keen that interns understand the way in which businesses and organisations operate internally before they join the company’s different teams. He has produced an Induction Booklet you have to complete. The headings in the booklet will require you to do some reading and research about different aspects of how businesses and organisations work internally.
Please use the separate Unit 2 Induction Booklet to submit your responses. In the Induction Booklet, you should demonstrate you can:
- Outline the differences between strategic, tactical and operational objectives. Give an example for each objective.
- Explain factors that lead to the choice of objectives in profit making and non-profit making organisations.
- Explain the importance of customer service to organisations.
- Analyse different organisational structures.
- Analyse different legal identities of businesses.
- Analyse the importance of human resources for a named organisation.
- Explain the physical resources required by a named business.
- Explain the digital/technological resources required by a named business.
- Explain the sources of finance available to a named business.
- Explain the main components of an income statement (profit and loss account), a balance sheet, a cash flow statement.
- Explain the elements and purpose of budgets