H7DJ 04/AS/02 - Awareness in Units of Business Model

(Group Assignment)

● Introduction
By completing this assignment students are expected to understand the main functionalities and strategies of a
business unit. Student should be able to submit a document with a minimum of 1500 to 2000 words (assuming 8
students per group) to identify business units such as storing, human resources, marketing, production, finance
and purchasing of the selected business and describe the functionalities and strategies of each unit in brief.

● Assignment Guideline for Candidates

o Candidates should refer external sources (e.g. Books, journals, internet, discussion with a
professional etc.) to identify main functionalities and strategies of business units
o Candidates should choose 5 of following 6 business units to identify main functionalities of a
business:
1. Storing
2. Human Resources
3. Marketing
4. Production
5. Finance
6. Purchasing

o Candidates should submit their findings according to the format given below.
o Candidates should write 8 functionality for each unit together with the strategy behind it (Why
a particular functionally exists in the business).
a) Branch b) Batch Number of the Branch

c) Group Name

d) Participated Candidates List

Name of Candidate Signature

1.

2.

3.

4.

5.

6.

7.

8.
● End
● Start Date
Date

1. Business Unit Descriptions : Candidates may choose 5 units out of following 6 Units

1.1. Business Unit : Storing (2.5 Marks for each functionality)

Functionality Strategy behind the functionality

1
a
2.

3.

4.

5.

6.
1.2. Business Unit : Human Resources (2.5 Marks for each functionality)

Functionality Strategy behind the functionality

1.

2.

3.

4.

5.

6.

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1.1. Business Unit : Storing (2.5 Marks for each functionality)

Functionality Strategy behind the functionality

Monitor and control raw materials, work-in-progress, and finished goods. Strike a balance
1. Inventory Management between supply and demand through accurate forecasting, real-time tracking, and just-in-
time principles, minimizing holding costs while ensuring product availability.

2. Warehousing
Manage physical storage facilities for goods. Strategically position warehouses to optimize
transportation routes, reduce lead times, and enhance overall supply chain efficiency.

3. Order Fulfilment Efficiently process and deliver customer orders. Ensure timely and accurate order
fulfilment by implementing efficient picking, packing, and shipping processes to enhance
customer satisfaction and loyalty.

4. Quality Control Implement measures to maintain product quality. Uphold brand reputation by conducting
rigorous quality checks throughout the supply chain, preventing defective products from
reaching customers.

5. Space Optimization Maximize the efficient use of storage space. Minimize waste and operational costs by
strategically organizing products, utilizing vertical storage solutions, and allowing for
scalable operations.

Implement safeguards to protect stored inventory. Safeguard inventory and assets by

6. Security Measures employing security measures such as surveillance systems, access controls, and employee
training.

7. Forecasting and Demand Use data to predict future demand. Anticipate customer demand accurately by leveraging
data analytics, historical sales data, and market research to optimize inventory levels and
Planning
reduce excess stock.

Utilize technology to streamline storage processes. Enhance efficiency and accuracy by

8. Technology Integration integrating technology, automating routine tasks, providing real-time visibility into
inventory, and reducing the likelihood of errors for improved operational efficiency and
responsiveness to market changes.

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1.2. Business Unit : Marketing (2.5 Marks for each functionality)

Functionality Strategy behind the functionality

1. Market Research Gather data on consumer needs and market trends. The strategy behind market research
is to inform decision-making. By understanding customer preferences and market
dynamics, businesses can tailor their products and strategies to meet evolving demands
and stay ahead of competitors.

2. Product Positioning Define the unique selling proposition (USP) of products. Effective product positioning is
strategic in differentiating a brand from competitors. By identifying and emphasizing a
unique value proposition, businesses can carve out a distinct market identity and attract
target customers.

3. Advertising and Promotion Create and implement marketing campaigns. The strategy is to increase brand visibility
and drive sales. Well-designed advertising and promotional campaigns, utilizing various
channels, enhance brand recognition, attract new customers, and maintain the interest of
existing ones.

4. Digital Marketing Leverage digital channels for marketing. The strategy is to expand the reach and engage
with a wider audience. Utilizing digital platforms, such as social media, email, and online
advertising, allows businesses to connect with consumers in real-time, analyse data for
targeted campaigns, and adapt quickly to changing trends.

5. Public Relations Manage relationships with the public and media. The strategy is to maintain a positive
brand image. By cultivating relationships with media outlets and managing public
perceptions, businesses can enhance credibility, mitigate negative publicity, and foster a
favourable reputation.

6. Brand Management Build and nurture brand identity. Brand management aims to create a consistent and
positive brand image. Through cohesive messaging, visual elements, and brand
experiences, businesses can build customer trust, loyalty, and influence purchasing
decisions.

7. Customer Relationship Manage customer interactions. The strategy is to improve customer satisfaction and
Management (CRM) retention. By utilizing CRM systems, businesses can understand customer preferences,
track interactions, and tailor marketing efforts to individual needs, fostering long-term
relationships.

8. Market Analytics Utilize data analytics for market insights. The strategy is to refine marketing strategies
based on data-driven insights. Analysing customer behaviour, market trends, and
campaign performance allows businesses to make informed decisions, optimize
marketing efforts, and allocate resources effectively.

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1.3. Business Unit : Production (2.5 Marks for each functionality)

Functionality Strategy behind the functionality

1. Capacity Planning Align production capacity with demand. The strategy is to optimize resources. By
forecasting demand accurately, businesses can adjust production levels to prevent
bottlenecks, reduce excess capacity, and ensure efficient resource utilization.

2. Quality Assurance Implement measures to maintain product quality. The strategy is to uphold brand
reputation. Rigorous quality control measures at every stage of production ensure that
products meet or exceed predefined standards, enhancing customer trust and
satisfaction.

3. Supply Chain Management Optimize the supply chain for efficiency. The strategy is to reduce costs and improve
reliability. Streamlining the supply chain, from sourcing raw materials to delivering
finished products, minimizes lead times, lowers operational costs, and enhances overall
efficiency.

4. Lean Manufacturing Implement lean principles to reduce waste. The strategy is to improve productivity. Lean
manufacturing focuses on minimizing waste, improving efficiency, and reducing lead
times. This results in cost savings, faster production cycles, and increased responsiveness
to market demands.

5. New Product Development Continuously innovate and develop new products. The strategy is to stay competitive. By
investing in research and development, businesses can introduce new products or
improve existing ones, staying ahead in the market and meeting evolving customer
needs.

6. Workforce Training Invest in employee training. The strategy is to enhance skill sets. Ongoing training
programs ensure that the workforce remains adept with the latest technologies and
methodologies, reducing errors, and improving overall productivity.

7. Equipment Maintenance Regular maintenance of machinery and equipment. The strategy is to minimize
downtime. Regular and proactive maintenance prevents unexpected breakdowns,
ensuring continuous production and reducing the risk of costly repairs.

8. Production Scheduling Efficiently schedule production activities. The strategy is to optimize resource utilization.
Production scheduling involves aligning machine and labour capacities with demand,
reducing idle time, improving on-time delivery, and minimizing lead times.

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1.4. Business Unit : Finance (2.5 Marks for each functionality)

Functionality Strategy behind the functionality

Create accurate budgets and forecasts. The strategy is to facilitate financial planning. By
1. Budgeting and Forecasting aligning projected revenues and expenses, businesses can set realistic goals, allocate
resources effectively, and adapt to changing market conditions.

Provide timely and transparent financial reports. The strategy is to support decision-
2. Financial Reporting making. Transparent financial reporting enhances stakeholders' understanding of the
company's financial health, fostering trust and enabling informed strategic decisions.

Monitor and control costs. The strategy is to ensure profitability. By implementing cost
3. Cost Control control measures, businesses can optimize operational efficiency, maintain healthy profit
margins, and remain competitive in the market.

Manage and optimize cash flow. The strategy is to ensure liquidity. Effective cash flow
4. Cash Flow Management
management ensures that a company has sufficient funds for day-to-day operations,
timely payments, and strategic investments.

Identify and mitigate financial risks. The strategy is to protect assets. Identifying and
5. Risk Management
managing financial risks, such as market fluctuations or credit risks, safeguards the
company's assets and ensures long-term stability.

6. Investment Analysis Evaluate potential investments. The strategy is to align with financial goals. Thorough
investment analysis helps businesses make informed decisions regarding capital
allocation, ensuring that investments align with the company's strategic and financial
objectives.

Prudently manage debt levels. The strategy is to minimize financial risks. Managing debt
7. Debt Management
responsibly by optimizing interest rates and repayment schedules helps maintain
financial stability and flexibility.

Strategic planning to optimize tax liabilities. The strategy is to maximize financial

8. Tax Planning efficiency. By understanding and leveraging tax laws, businesses can minimize tax
liabilities, improve after-tax profitability, and support overall financial health.

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1.5. Business Unit : Purchasing (2.5 Marks for each functionality)

Functionality Strategy behind the functionality

1..Supplier Selection and Identify and manage suppliers effectively. The strategy is to build strong partnerships. By
Management carefully selecting reliable suppliers and fostering mutually beneficial relationships,
businesses ensure a stable supply chain, minimize risks, and potentially negotiate
favourable terms.

2. Sourcing Strategies Develop effective sourcing strategies. The strategy is to optimize costs. By strategically
sourcing materials or services, businesses can secure competitive pricing, identify
alternative suppliers, and mitigate risks related to supply chain disruptions.

3. Contract Negotiation and Negotiate and manage contracts with suppliers. The strategy is to create favourable
Management terms. Skilful negotiation and comprehensive contract management ensure clear
expectations, price stability, and enforceable agreements, reducing the likelihood of
disputes and unexpected costs.

4. Cost Analysis Conduct thorough cost analyses. The strategy is to optimize value for money. By
understanding the total cost of ownership, including acquisition, operation, and
maintenance costs, businesses can make informed purchasing decisions that align with
budgetary constraints.

5. Risk Management Identify and mitigate financial risks. The strategy is to protect assets. Identifying and
managing financial risks, such as market fluctuations or credit risks, safeguards the
company's assets and ensures long-term stability.

6. Quality Assurance Implement measures to maintain product/service quality. The strategy is to uphold
quality standards. Rigorous quality control measures in the procurement process ensure
that purchased goods or services meet specified criteria, contributing to overall
product/service quality.

7. Ethical Sourcing Ensure ethical and sustainable sourcing practices. The strategy is to align with corporate
values. Ethical sourcing involves considering the environmental and social impact of
procurement decisions, contributing to corporate responsibility, and meeting the
expectations of socially conscious consumers.

8. Technology Integration Utilize technology for efficient procurement processes. The strategy is to enhance
efficiency. Technology integration streamlines procurement workflows, automates
routine tasks, and provides real-time insights, reducing manual errors, improving
accuracy, and optimizing the overall procurement process.

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 FOR OFFICIALS : ASSESSOR USE ONLY

● Date of Submission

● Comments

Signature of Assessor Date

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