RELATIONSHIP BETWEEN MANAGING EMPLOYEES AND BUSINESS OBJECTIVES | Animated Learning by VCEWeb

Summary

The video highlights the critical role employees play in achieving business objectives. It emphasizes the importance of effectively managing employees through the employment cycle of hiring, training, and termination. By investing in employee training, particularly in customer service skills, businesses can enhance customer satisfaction, leading to higher sales and profitability. Ultimately, this approach ensures that revenues exceed expenses, helping businesses meet their core objective of making a profit.

Takeaways

• 💼 Achieving business objectives is crucial for a business's success.
• 👥 Employees are the backbone in achieving business objectives.
• 📈 Managing employees effectively is tied to the employment cycle: hiring, training, and termination.
• 🎯 Effective employee management can lead to successful business outcomes.
• 🧑‍💼 Training employees in specific skills, such as customer service, improves interactions with customers.
• 😊 Better customer service leads to higher customer satisfaction.
• 💵 Increased customer satisfaction can drive greater sales for a business.
• 📊 When sales increase, revenue may exceed expenses over time.
• 💰 Achieving higher revenue allows the business to meet its profit goals.
• 🏆 Managing employees well is directly linked to achieving business objectives, like profit maximization.

Q & A

What is one of the most important aspects of operating a business?

Achieving business objectives is one of the most important aspects of operating a business.

Who is considered the backbone in the achievement of business objectives?

The employees of the business are considered the backbone in the achievement of business objectives.

What is involved in managing employees effectively?

Managing employees effectively relates to the employment cycle, which includes hiring, training, and terminating employees.

How can managing employees lead to the achievement of business objectives?

Managing employees effectively can lead to the achievement of business objectives by improving performance and outcomes, such as customer satisfaction and increased sales.

What is an example of how employee training can impact business performance?

If a business trains an employee in customer service skills, the quality of interactions between customers and employees will improve, leading to higher customer satisfaction.

How does improved customer satisfaction affect business success?

Improved customer satisfaction can lead to greater sales for the business, as satisfied customers are more likely to make purchases and return for future business.

How can increased sales contribute to the achievement of business objectives?

Increased sales allow a business to generate more revenue, which helps in achieving the objective of making a profit.

What happens when a business's revenue exceeds its expenses?

When a business's revenue exceeds its expenses in a given period of time, it can achieve its objective of making a profit.

Why is training employees in customer service particularly important for a business?

Training employees in customer service is important because it directly impacts the quality of customer interactions, which can lead to increased satisfaction, repeat business, and overall sales growth.

What is the ultimate objective for most businesses in terms of financial performance?

The ultimate objective for most businesses in terms of financial performance is to make a profit.