What do you even study for lcvp?

_chloee_

Okay so the lcvp exam is tomorrow and i don't have a clue what to study? i do business and i'm handy enough at it but like, what do we study?

loveemmaxxxx

RECRUIT ME LTD

Q. Robert and Maria Nolan established Recruit Me Ltd in 1998.

Long established business, well “respected” in the recruitment industry in Ireland. Head Office Dublin but also expanded into “six sub offices”.

Q. Why did Robert and Maria Nolan need to develop a new Business Plan?

- State reasons for a Business Plan.

1. Raising Finance: To obtain bank loans or grants.

Planning allows you to see how much Capital needed and also when it is needed.

2. Goal Setting: Short and Long Term Goals, can be set and planned for, it will help his business to run more

efficiently. Acting on Market Research – Primary (Field) and Secondary (Desk) research.

It will help to anticipate trends or needs of the business.

3. Timing:

It allows you see when the work must be completed by.

4. Identify Weakness:

Anticipate needs of business, it helps to identify weaknesses in the business and take corrective action.

5. Monitor Progress:

Compare Actual with Plan, Recruit Me Ltd can evaluate how the business is actually doing, by comparing

it to the business plan. Overall having a plan will help with day to day decision making of Recruit Me Ltd.

Q. What is the importance of a SWOT Analysis for Recruit Me Ltd?

Assess the current situation and strategically plan for the future a SWOT Analysis, senior management of Recruit Me would need to identify the current situation in order to plan for the future.

Q. Carry out a SWOT Analysis for Recruit Me Ltd.

Recruit Me Ltd would carry out a SWOT/SCOT Analysis (to find out internal strengths of the business), to look at strengths, identify weaknesses/challenges, to explore opportunities and hopefully to counteract threats and anticipate future problems which may occur, risk assessment.

Note you will need explain how the Recruitment Me Ltd.

Identifies /Analyses /Examines current situation, How to maximize Strengths of Recruit Me Ltd, How to Reduce Weaknesses the business may have and take advantage of opportunities, also have to Overcome threats, i.e. competition (what unique selling point does Recruit Me Ltd have??) example below:

SWOT Analysis for Recruit Me Ltd:

Strengths:

- Recruit Me Ltd took on a “Strategy of diversification” and the owners took “measured risks” to make a “commitment to change”.

- Visionary experienced leadership – both Robert and Maria have been in business for a long time since 1998

and they know that they need to change the business in order to survive, they developed a new vision and

new business plan and mission statement.

- Good open and honest communication skills in the organisation “discussions with senior management team

to discuss future direction, new ideas and ways to diversify” the business.

- Flexible very qualified and experience staff that are “highly effective, talented and committed team”.

- The management value “innovation and creativity within the company”.

Weakness:

The business only focused on the “four large multinational companies” – dangerous to only have one area.

The business should have always been diversifying; they left it until the recession hit to change.

Opportunities:

New markets – 3 Areas for consideration to meet the CSR area:

1. Meet the needs of a new type of jobseeker – Professional, skilled person.

2. Assist Companies to develop a CSR strategy – to deliver a level of social responsibility.

3. Support start-ups – offer fully serviced desks for a nominal rent.

Threats:

Economic climate, this is improving and they “have weathered the worst of the downturn”.

Q. What stages are involved in the Planning?

The four stages in the planning process are:

· Analyse the situation: This involves conducting a SWOT analysis and forecasting future events. Accurate forecasting can lead to success. Bill Gates forecast a computer on every desk and planned Microsoft's strategy to match. He failed to predict the importance of the Internet and lost ground to Netscape but later changed his view and hence the Explore / Netscape "war".

· Identify the goals: Goals should be Specific, Measurable, Achievable, Relevant and Timed (SMART). To communicate the organisations most important goals to the stakeholders, a mission statement is written.

· Draft the plan: The plan should consist of a strategic (long term) plan, a tactical (operational) plan and a contingency (for unseen events) plan.

· Implement the plan: Plans are implemented by putting policies in place. The policies of the organisation detail how the objectives are to be achieved. Policies succeed best if they are devised by consultation. Policies must be adaptable to outside forces such as competitors or government legislation.

Q. Was this risky to have only 4 major clients?

As experienced managers Robert and Maria knew that in order to survive, a major change of direction is required. They need to diversify and change, even before the economic recession happened!

Q. Why did Robert and Maria Nolan need to reinvent the business and become more of a CSR Business?

Due to the economic downturn, having all their eggs in one basket “four multinational” companies, was dangerous as they were only catering for one market area. The needed to ensure survival of the business, they “reduced the workforce” and took on “the task of reinventing the company”. The business was restructured, and they treated their staff correctly during the down sizing, they offered “redundancy packages” and flexi working “job sharing opportunities”.

Q. Mission Statement & Headings for Business Plan – Students to write out these

Example of Mission Statement for Recruit Me Ltd.

At Recruit Me Ltd our vision is to be a world-class global CSR talent solutions provider, delivering the highest quality of service to clients, candidates and all stakeholders of the business.

We offer a range of recruitment, talent management and development of CSR Strategy training.

We help both organisations and individuals realise their full potential. Our relationships with our clients, candidates and stakeholders drive our business strategy, our behaviour and our relationships, both internally and externally are based on Corporate Social Responsibility principals.

Q. What 3 areas have Robert and Maria focused on as part of their Corporate Social Responsibility Strategy? What does CSR mean?

1. Meet the needs of a new type of jobseeker – Professional, skilled person.

2. Assist Companies to develop a CSR strategy – to deliver a level of social responsibility.

3. Support start-ups – offer fully serviced desks for a nominal rent.

Students need to expand answers!!!:

Focus on meeting the needs of a new jobseeker in the Irish market i.e. the professional, skilled person, who having being employed for many years, is now struggling to find work.

Free Careers Programme was implemented using staff volunteers which were available to jobseekers on day a week. Professional Services Provided: Developing Professional Profile, CV and Interview Techniques, also free employment search and job matching support.

Recruit Me Ltd also identified another area, “helping companies to develop a CRS strategy”.

Output and profitability are key for businesses to survive the stakeholders also need to deliver a “level of social responsibility which will impact on business practice”.

Key focus of CRS will require collaboration of staff and consultation all the stakeholders, suppliers, customers and local community. There was a clear focus on the environment and significantly “working conditions for employees, recruitment procedures, training and promotion.

Businesses need good practices and people management that recognise the importance of fairness, equality of opportunity and the values of all types of work including volunteer work.

Recruitment Me Ltd has also taken the opportunity to offer support for new start-up enterprises.

Recruitment Me Ltd are renting office space, where start-up entrepreneurs have access to “printing, broadband and communication facilities, while being surrounded by likeminded people”.

The business offer these “fledgling businesses” support in accessing grants from government agencies, as well as dealing with the legal and tax implications of starting a business”.

What does being CSR for a business mean for Recruit Me Ltd?

Corporate Social Responsibility is concerned with treating the stakeholders of a company or institution ethically or in a responsible manner. Being ‘Ethical or responsible' means that Recruit Me Ltd treats key stakeholders in a manner deemed acceptable according to business norms.

Recruit Me Ltd needs to look after the social, economic and take responsibility for the environmental issues caused by the business. Stakeholders exist both within a firm and outside (employees, customers, suppliers etc) The main aim for Recruit Me Ltd of being social responsible is to create higher and higher standards of living, while preserving the profitability of the business for peoples both within and outside the business.

Q. Write out for Action Plan that Recruit Me Ltd:

The government has initiated a Action Plan for Jobs 2015 - Regional launch in 11th February 2015.

€250million plan to accelerate jobs growth in towns and villages across the country

Action Plan for Jobs - Regional aimed at encouraging communities and agencies, like Recruit Me Ltd in each region to work together to support job-creation. Minister Bruton stated that “jobs are now growing in every region of the country, we need to accelerate this”

Web Link: http://www.enterprise.gov.ie/en/News/Home-Page-Carousel/Action-Plan-for-Jobs-2015-Regional-launch.html

As part of this initiative “Recruit Me Ltd” have developed their “Action Plan” to assist the government with this endeavour. – Sample outline of Action Plan, Students to create their own and use headings!

ACTION PLAN OF RECRUIT ME LTD:

To assist with Job Creation in a positive way to help society.

Objectives:

* To assist business to realise the importance of being CSR (Corporate Social Responsible).

* To identify and meet the needs of the changing jobs market, such as a new type of job seeker, the professional, skilled people.

* To assist business to develop a CSR Strategy.

* To offer assistance to start-up businesses.

* To research the area of current developments in recruitments, look at current job requirements in Solas and Government Web sites.

Research:

* Look up various web sites on jobs requirements Solas – Regional Labour Market Bulletin 2014 to establish jobs shortages in the different regions.

* Contact local businesses and establish skills shortages and training requirements on CSR strategy.

Analysis of Research:

* From meetings with senior management staff, employees at work and research from current job market government requirements.

Actions/ Schedule of Time:

* May 1th Meeting of senior Management to discuss new strategic vision for the business

* May 5th Guest speakers from Solas and Local Enterprise Office.

Team Members involved, Resources Costs:

* Cost for xxx

Evaluation Methods of Action Plan:

* If Recruit Me Ltd develops xxx

Signed: Date:

Robert and Maria Nolan

Q. Element of the Business Plan for Recruit Me Ltd:

Benefits of a business Plan for Recruit Me Ltd: It provides a focus for the business and guides the actions of individuals. It assists Recruit Me when seeking finance from the bank or other financial institutions. It enables the management to assess performance of the business (targets set against actual performance).

Before the Business Plan is written out, a SWOT analysis was carried out by Recruit Me Ltd.

Note: Students to write out Business Plan for business, use heading below as guidelines!

Business Plan Layout for Recruit Me Ltd:

1. Description of Business

2. Organisation and Management

3. Marketing and Marketing Strategies

4. Manufacturing Operations and Premises

5. Financial Analysis and Investment proposal

Signed by: Robert and Maria Nolan

Q. What is Corporate Social Responsibility (CSR)? Why is it important?

Corporate Social Responsibility (CSR) is a business practice which involves participating in initiatives that benefit society. CSR business activity focuses on looking after your employees’ health and safety, developing staff professionally and making a difference to the communities in which the business operates.

The business operation is carried out in a sustainable and responsible matter regarding the environment.

Q. Identify two agencies which provide support for business start-ups. Outline the type of support offered by each of these agencies.

1. Name Agency: Local Enterprise Office (formally known as Enterprise Boards), run by the Local

Authorities. Support offered: Mentoring Service, give advice to start-up businesses, give various courses

e.g. Start You Own Business. LEO assists with grants and capital for equipment /premises costs.

2. Name of Agency: Enterprise Ireland.

Support offered: Offers grants, give advice to start-up businesses.

3. Other Agencies: (Note Students have to state what support these agencies offer to Start-up’s)

- Local Area Partnerships.

- Leader Plus.

- Solas.

- IDA.

- Failte Ireland.

- Teagasc.

Recruitment Me Ltd believes that even though this aspect of the business is currently non-profit making it should generate more clients for them in the future.

Q. What style of management is used by Recruit Me Ltd?

Robert and Maria have a visionary, democratic, participative and collaborative style of management.

“The strategy of diversification has had a huge impact on themselves, their employees and their company”. Also the management saw “the value of drawing on innovation and creativity within the company”.

Action Plan for job creation is a positive way to help society, Recruit Me valued the “highly effective, talented and weathered the worst of the downturn in the economy”

Key to the success of Recruitment is Robert and Maria “visionary leadership and the “support they have given to employees, individuals and other companies”. Recruitment has received recognition for their work they have been nominated for the “national social entrepreneur’s award”. The definitely have strong leadership skills, such as motivation, great communication and managing change skills.

Q. How did management of Recruit Me Ltd diversify their business?

Robert and Maria vision for the business changed, they become more focused on the Human Relations aspect and CSR elements in their Recruitment business, the focused on looking at “working conditions of employees, recruitment procedures, training and promotion practices and people management”.


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