...CHT is a firm that is customer focused, and we recommend that it should be structurally organized around its clients. One of the advantages of selecting a customer structure is that it will allow CHT to focus on customization, which will increase customer loyalty and provide a more in-depth relationship between the client and CHT. In addition, the customer structure adds value to products, services and solutions. CHT has a vision of being the client’s trusted advisor while not being a low-cost provider and its structure should be aligned with that vision. While there are some disadvantages to a customer structure, such as the ability to measure customer profitability. CHT has plans to combat those disadvantages, which include developing a metric for determining how to identify the profitability of each individual project, prior to accepting it. There will be procedures in place to ensure that projects are managed with the specified timeframe so that the firm may realize the full profit from any given project. We recommend that CHT should be a balance of centralized and decentralized. Some units of CHT should be decentralized to allow for daily decision-making and responsibilities be made by appropriate levels of management (please see enclosed organizational chart). The advantages of being a decentralized organization is that it allows units to stay close to clients and markets, increases the speed of decision-making and responding to issues and units may perform its responsibilities...
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... This is a use of sounds and words to express yourself, which includes the use of gestures or mannerisms. Advantages & disadvantages An advantage of why verbal communication would be beneficial during an meeting with Apple would be so that all of the information given out is broken down a lot easier making it easier to understand what is being said to the individual therefore they it is easily picked up and understood. Not only that if they were to use hand gestures they would keep the audience eager therefore people would keep focused throughout the whole of the meeting making it easier to sink in to everyone. Verbal communication makes it easier to express feelings to the people you are speaking to, for example if you are upset with a certain subject you are unable to express feelings over text, but with facial expressions and actually showing the emotions during a meeting, the individuals will actually be able to have a full understanding of what is being said. Another advantage of verbal communication is that people are able to get a quick response and feedback on what they have to say about what has been discussed during the meeting therefore they may note that down and take it into account as that is most likely what a meeting is all about, taking on board people’s emotions and feedback towards the certain topic. Some of the many disadvantages of verbal communication is some people may become annoyed by it, they would rather just concentrate on what is being said rather...
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...Small Business Idea ACC 561 September 3, 2012 Dr. James Krause Small Business Idea Recently the government has released funds for creating small businesses. These funds would allow any person who wants to start their own business who might have not had all of the funds that they needed. In addition, to the release of funds a company would have to look to see what type of business organization they would like to use for ones unique service or product. Consideration needs to be taken into account for legal, tax, accounting, and other implications when a business owner makes a decision about one of many types of business. Four types of business organizations are sole proprietorship, partnership, corporations, limited liability partnerships. Based on this information it will me decide which form of business would be best suited for my company. Sole Proprietorship According to Cheeseman (2010), sole proprietorship is a form a business in which the owner is actually the business and it is not a separate legal entity. There are some advantages and disadvantages to using this form of business. The advantage to going with the sole proprietorship is that there is no partnership agreement and the disadvantage is that personal assets are open to attack in legal cases (Ohio Government, 2012). Financial statements The main financial statement that would benefit a sole proprietorship is the statement of cash flow. Since, this statement shows where the cash came from and where...
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...developing its compensation system, it needs to establish a reward strategy. This is a mix of rewards both extrinsic and intrinsic, that the organizations intend to provide. It is the blue print for creating the reward system. Compensation system has 3 main components: 1) Base pay – the foundation pay component for most employees and is generally based on some unit of time. (Per hour, week, month) 2) Performance Pay – relates employee monetary rewards to some measure of individual, group or organizational performance. 3) Indirect Pay – noncash items or services that satisfy a variety of specific employee needs such as health protection. The first step in a compensation strategy is to determine the role that compensation will play in the reward system. Since most organizations want to minimize compensation costs wherever possible, you have to identify what other rewards are being provided and determine if these alone are sufficient to get certain behaviour from the members. Optimal reward system – adds the most value to the organization, considering all of its costs. Pay policies – base pay, cost-of-living adjustments, merit pay, incentive pay, skill based or competency based pay. Internal alignment – comparisons among jobs or skill levels inside a single organization External...
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...UNIT 1 Deadline as Apr 6 Question 1 Son, Ha, MA __________ compensation is the psychological mindset of performing a job. Son Answer | | Extrinsic | | | Intrinsic | | | Base pay | | | Discretionary | Question 2 Which of the following stakeholders requires that companies comply with all employment legislation? Son Answer | | Employees | | | Line managers | | | Executives | | | U. S. Government | Question 3 COLA (Cost of Living adjustments): Ha Answer | | are tied to changes in the price of consumer goods. | | | are part of seniority pay systems. | | | reward employees based upon the achievement of individual goals. | | | are offered as a type of merit pay. | Question 4 __________ is the term used to describe both the monetary and nonmonetary rewards an employee receives. Ha Answer | | Extrinsic compensation | | | Salary | | | Discretionary benefits | | | Strategic compensation | | | | Question 5 __________ focuses on gaining competitive advantage by being the lowest-cost producer of a good or service within the market place. MA Answer | | Differentiation strategy | | | Cost leadership strategy | | | Competitive strategy | | | Core compensation | Question 6 List and explain the five different stakeholders of a company’s compensation system. Son There are five different stakeholders of a company compensation system and the human resource department provides them within and outside...
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...Chapter 1 The Problem and its Background I. Introduction The modern world has introduced a lot of latest technologies that aid the human race on their everyday living. These technologies have enhanced almost all the aspects of human living; from personal care, food and dietary, medicine, etc. Because of the convenience and comfort that these latest technologies have brought, an increase in number of people who patronizes it is observed. Truly, these technologies have changed the man’s way of living. Since the technology started, it has improved much process in which people are involved with. Like for instance, banking has evolved into online banking because of the internet that technology has provided. Gathering of information, news and data has been made easier and wider with the aid of the latest gadgets and instruments that are brought by the latest technology. Technology has touched everything even the process in which the people are obtaining something for payment, the purchasing process. In today’s perspective, purchasing has been an easy way to acquire something because of the innovative instruments that aids the process. The most basic and most used instrument is the cash, which is provided by the government of every country. Derived from this is the credit card, which is one of the most innovative instruments of purchasing since it can easily be used and is very convenient. There are other instruments for purchasing, but these two instruments are somewhat...
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...2014). This is just one of the many obstacles women face when striving for equality in the workplace. This paper will explore the disadvantages women face in the workplace, including the gender pay gap, the under representation of women in senior leadership roles and sexual harassment. A plan to address these disadvantages will be outlined and justification of why it will work will be provided. At the outbreak of world war one far fewer women than men participated in work, and they tended to be lower-paid domestic occupations, as the women’s main role was seen to be in the home. The withdrawal of approximately half a million men, most of who had been in the workforce, still did not result in their direct replacement with women. Women’s contribution to the workforce rose, but the increase was in traditional areas of women work, for example in the clothing and footwear industry. Unions were unwilling to let women join the workforce in greater numbers in traditional male roles as they feared it would lead to a lowering of wages (Adam-Smith, 1996). Since the early 1900’s the country has come a long way and developed at a rate faster than anyone expected, take for example technology, people are walking around with the computing power that put a man on the moon in their pocket, yet in 2014 there is still gender inequality in the workplace. Lack of pay equity and equal opportunities is an issue for every women in the Australian workforce, and sex inequality at work is so pervasive...
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...| Performance Management at Network Solutions, Inc. Makisha Howell ORG520– Managing Performance for Results Colorado State University – Global Campus Isabel Wan July 11, 2014 Performance Management is often used within organizations that have multiple service initiatives in play. Which in turn puts vast amount of pressure on employees to help improve overall customer satisfaction as well as reduce cost as well. PM is a continuous process of identifying, measuring, and developing the performance of individuals and teams and aligning performance with the strategic goals of the organization (Aguinis, 2013). This paper will give you insight on the Case Study: Network Solutions, Inc. whom no currently use over 50 various systems to measure performance within an organization. Network Solutions vs. Ideal System The Network Solutions, Inc recognized that they had performance issues that weren’t being effectively addressed which then led to competitors pushing and increasing the cost of managing performance. Also Network Solutions also needed to improve the ability to meet standards of the overall goal of the organization but the best solution to this was to incorporate all employee goals and make it work in their favor. The whole cycle of Network Solutions performance management consist of: * Performance planning * Ongoing discussions and updates between managers and employees * Goal cascading and team building * Annual...
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...Differences in Business Forms Angie Anderson University of MN-Crookston The purpose of this paper is to discuss the formation of an accounting firm with another colleague. I will discuss the various types of business structures of an accounting firm and conclude by giving my reasons as to the type of business I will form. Partnership In a partnership, each person contributes in all aspects of the business; including money, property, and all employees of the business. The partners share the profits and losses of the business. When discussing a partnership, it is necessary to consider these issues up front; including how to divide profits, how to resolve disagreements, and if necessary, how to dissolve the partnership. Many partnerships do not need upfront agreements, but it is quite risky to operate without one (SBA, "Partnership"). When forming a Partnership, it is most important to register your business with the state the business will be conducted in. You also need to decide on a business name. Once the business is registered, the business needs to obtain licenses and any required permits. The license and permit required can affect the type of partnership that is formed (SBA, "Partnership"). The three different types of partnerships include: General Partnership, Limited Partnerships and Joint Ventures. General Partnerships mean that all profits, liabilities, and the duties of management are divided equally between the parties involved. A Limited Partnership...
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...members of the sales team will selected and a development plan created. A job analysis will be performed and a workforce planning system explained. The selection method will be identified revealing advantages and disadvantages, and new team members will be revealed highlighting his or her knowledge, skills, abilities, and the role they will have within the organization. Job Analysis The purpose of a job analysis is to identify detailed duties and requirements for a specific job. The analysis focuses on the job and not the person. The job analysis will provide critical information and allow InterClean to document specific procedures. The summary of task and people requirements will be required to obtain the job analysis. Many types of job analysis methods are available; each come with advantages and disadvantage. After much thought and consideration, InterClean has decided to use the interviews job analysis method, with focus on a new salesperson position. The job analysis interviews can provide standard, nonstandard, and mental work. The interviews method is unique in that workers can report activities that would not normally be observed. The advantage is that the worker would be providing information that may not be available from any other source. The disadvantages to this method are that some workers may become suspicious and question motives. Interviewers will need to be cognitive of asking ambiguous questions because of the possibility of...
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...4. A split limit policy pays a certain amount for each injured person and a total amount per incidence for all injured people. This type of policy is stated in three numbers: 50/100/50. The first of the three numbers, $50K, is the maximum amount that will be paid for bodily injury to each person in the case of an accident. The second number, $100K, is the maximum total amount that will be paid to all persons for each accident. It is important to remember that the second number is a cap for the first number. For example, let’s say are three people in the accident and the first has a bodily injury of $30K, the second has a bodily injury of $40K, and the third has a bodily injury of $40K. In this situation, the first person will be paid the full $30K since it is under the limit for each person, the second will also be paid the full $40K since it is under the limit for each person, and the third will only be paid $30K out of $40K even though $40K is under the limit for each person since the maximum amount for the accident, 100K, has been reached. So, the third person may have to pay $10K out of their pocket. The third and last number, $50K, is the maximum total amount available to pay for property damage for each accident. The $500 deductible means that before the insurance company pays anything, the insured must pay the $500. In other words, the deductible is the minimum amount that must be paid by the insured in order for the insurer to settle the rest of the claim. The minimum...
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...appeal to an individual's internal needs tends to be more effective than using negative reinforcement, criticism and feedback only when performance falls short of expectations There are a number of different views as to what motivates workers. The most commonly held views or theories are discussed below and have been developed over the last 100 years or so. Unfortunately these theories do not all reach the same conclusions! Taylor Frederick Winslow Taylor (1856 – 1917) put forward the idea that workers are motivated mainly by pay. His Theory of Scientific Management argued the following: Workers do not naturally enjoy work and so need close supervision and control Therefore managers should break down production into a series of small tasks Workers should then be given appropriate training and tools so they can work as efficiently as possible on one set task. Workers are then paid according to the number of items they produce in a set period of time- piece-rate pay. As a result workers are encouraged to work hard and maximise their productivity. Taylor’s methods were widely adopted as businesses saw the benefits of increased productivity levels and lower unit costs. The most notably advocate was Henry Ford who used them to design the first ever production line, making Ford cars. This was the start of the era of mass production. Taylor’s approach has close links with the concept of an autocratic management style (managers take all the decisions and simply give orders to those below...
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... (3 pts) As this particular CEO essentially wears two hats, manager and large shareholder, there is an incentive to maximize the value of the firm. Every decision this CEO makes as a manager will impact the value of the company and thus his own personal wealth. As this CEO has a significantly greater vested interest in the performance of the company, he or she is likely to keep agency costs at a level that allows for a greater margin of profit. Also, as stated in the book, Corporate Governance, Third Edition, by Kim, Nofsinger, and Mohr, “a person whose wealth is significantly tied to a firm and is also directly responsible for running the firm…minimizes conflict of interest problems between owners and managers”. In effect, the duality of these roles cause owner and manager to be one in the same. b) What are some of the disadvantages of the CEO having such a large ownership stake in terms of agency costs? (3 pts) A disadvantage to a CEO being the majority shareholder is that his managerial decision making...
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...|glasgow College | |Assestment1 | |International HRM | | | | | |3/21/2011 | | | CONTENTS Terms of references 3 Methods of investigation 3 Findings 3 Conclusions 17 Recommendations 17 Reference 18 Bibliography 18 Words: 3517 1.0 Terms of reference In order to complete International HRM unit task, a formal report has been requested. The task is to carry out an investigation and undertake a role of Management Consultant...
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...get the most return for their investment. Learn the advantages and disadvantages of each advertising medium that you can use to provide your business the winning edge. by Lyve Alexis Pleshette PowerHomebiz.com Staff Writer 259 If you are ready to get the word out about your business, one of the steps that you need to do is to select the right media where you will advertise and promote your business. For a small business, every dollar is precious. Small businesses do not advertise for the sake of advertising. Instead, they want to get the most return for their investment. Your advertising campaign should translate to greater sales, more profits and healthier bottom line. While there are a number of venues where you can promote your business, you need to ask three important questions: Where are my target buyers? What is the best medium to reach them? Can I afford to launch an effective campaign using this medium? An important step to developing your sales and marketing plan is to select the right media to send out your message. There are no hard-and-fast rules as to which media is better. The right media for one business may be wrong for another. Below are the relative advantages and disadvantages of the advertising media most frequently used by small businesses: Pay Per Click Advertising (Search Engines) As the Web becomes a must-use daily medium today, pay per click (PPC) advertising has grown by leaps and bounds. PPC advertisement...
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