Financial Assignment of the Entrepreneurial World

Financial of the Entrepreneurial World - Assignment Example The major challenges faced by the cleaning businesses are; During the period of lower revenues, many contract cleaning companies are forced to redistribute resources, improve workforce performance and streamline back office functions such as human resources, accounting and IT this is in an attempt to heighten the efficiency and reduce costs. Amplified competition in the industry is forcing corporations to bargain contracts with very stiff margins. In addition, many customers are aimed at cutting down the costs of operation in their own occupation by altering the terms of their agreements and reducing the frequency of cleaning procedures. The poor economic conditions present has Limited the public spend. This means that their will only be a few opportunities for contract cleaning company growth in the long-term. The declined job opportunities in addition to the increasing costs of fuel and employees have resulted in UK companies cleaning industry making a loss. So as to face the challenges and persist in the market the cleaning businesses have integrated skill and abilities of employees to increase efficiency in the level of performance. The workers are equipped with; cleaning skills: these are applied skills required by a cleaner to undertake the role competently; for example, the capability to control machinery and equipment; mopping skills; and the ability to use chemical substances without harm. It will thus reduce operational cost. Multi-tasking skills: it is important that staff execute a range of varied tasks in order for the businesses to endure the competitive market and keep low costs. Multi-tasking allows the control to reduce the numbers of employees while still maintaining the level of output.