BUS 3047 MANAGEMENT IN PACTISE
1.Executive Summary 3
2.1 Overview 4
2.1 Industry 4
2.2 Funding 4
2.3 Purpose 4
2.4 Structure 4
3.Findings and Analysis5
3.2 The Idea5
3.3 Starting the business5
3.4 Communication within the business5
3.6 Financial Information6
4.1 The Vision7
4.2 Achieving the Vision7
4.3 Professional assistance7
4.4 Attention to Employees7
Stewards Limited has established TeaBox from September 2004, focusing mainly on the following aspects of social services; cooperation, integration and sharing. So far TeaBox has not been managed efficiently leading to a deficit in its financial reports. However, Stewards Limited has managed to recognize this at an early stage without putting the entire corporation into danger.
To appropriately appraise the financial performance of TeaBox, an understanding of Stewards Limited operating environment would be key to comprehending the impact of its performance for the year 2006.
Stewards Limited has been incorporated in 1962 in Honk Kong as charitable organization. TeaBox was established in 2004 as a catering business for a new school in Siu Lik Yuen, Stewards Pooi Kei College and in 2005 established its second branch at Pooi Kei Primary School.
Stewards Limited was mainly funded by Hong Kong Council of Social Service and the Community Chest of Honk Kong. When the Honk Kong government changed funding scheme to reform the social welfare sector, Stewards established ARM services and TeaBox to compete for funds by employing people with disabilities through Small Enterprise Project.
TeaBox serves the purpose for “Life Education” by giving work and training opportunities to disabled groups, and by also promoting the concept of a healthier life.
TeaBox lacks of a formal organizational structure, however the manager of the business is Susan Lee who has helped with the structure of TeaBox and the superintendent in charge is Alfred Ku.
3. Findings and Analysis
For the financial year ending 31 August 2006 TeaBox suffered a financial loss after one year of running. An overview of the reports would suggest poor management but a further analysis of the business operations and financial statements give a more precise view of the problems that might have caused this deficit.
3.2 The Idea
TeaBox, an innovative idea by Alfred Ku is implemented with the help of Susan Lee. In a business which does not require any additional skills such as marketing, supervision and good communication are the key skills needed to be successfully running. However, employing Susan Lee as the manager put the business in inevitable risk. Given her academic background, Lee has very little knowledge of the managerial responsibilities.
3.3 Starting the business
Responsible for supplying equipment to start the business was Susan Lee. In the stock catalog appears equipment not necessary for the start of the business. Examples of these are the LCD TV set and the digital camera of total cost $14,960. Lee advised the company to purchase unnecessary staff especially when the first year the business was self financed.
3.4 Communication within the business
Stewards Limited emphasizes into creating value and prospects for disabled and disadvantaged groups. However it appears that unwillingly it did not take a stand on matters of ethics and principles by lacking communication between its members. Alfred Ku was only aware that the staff was dissatisfied only when an evaluation was necessary. As a person with his academic background in social work and three years...