...1. Yes, in my opinion the company should set up a formal salary structure based on a complete job evaluation. There is a need for this because of the high staff turnover, the inconsistent pay rates compared to the market, because of the different pay rates for male and female workers, and also because there is no mechanism of communication to address employees’ problems regarding wages and salary. They need this formal salary structure because there is no employee involvement in setting up salary structure, and there is no job evaluation committee. Also, this structure is necessary to be able to evaluate the relative worth of each job compared to key jobs, to categorize, rank jobs into rate ranges, to ensure there’s no discrimination in terms or gender, race and religion, and to make sure that the salary is related to the employees’ performance and capability. 2. Paying 10% more attracts more applicants to this job. Jack believes that it provides employee loyalty and reduces turnover. The problem with this is that it makes employees loyal to high pay rate and it reduces the turnover for only those employees who only concern about the salary rate, however indirect financial payments and other factors also influence the employee’s turnover. 3. Carter’s male-female differential is not wise in my opinion. The salary should be based on performance, and not gender. This disobeys the Equal Pay Act, and it doesn’t maintain individual equity. It is discrimination against female...
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...HRM-430 final exam Page 1: Multiple Choices Question 1.1. (TCO 1) Which pay structures represent companies' compensation policies that fit with their business objectives? (Points : 5) | Market competitive Internally consistent Equitable Analytical | Question 2.2. (TCO 2) Medicare Part A is based on what type of healthcare option? (Points : 5) | Preferred provider plan Medical savings account Managed care option Fee for service | Question 3.3. (TCO 3) Helen believes that the company should share part of the risk for her sales position. Which sales compensation plan should she pursue? (Points : 5) | Salary-plus-bonus plan Commission-only plan Commission-plus-draw plan Salary-plus-commission plan | Question 4.4. (TCO 4) The level of specialization or expertise an employee brings to a job are what type of skills? (Points : 5) | Depth Breadth Work team Horizontal | Question 5.5. (TCO 5) The collective bargaining system was established by the passage of which federal act? (Points : 5) | Davis-Bacon Act National Labor Relations Act Wagner Act Union Labor Relations Act | Question 6.6. (TCO 6) You broke your leg at work. The company called to inform you that they had to switch your benefits from the short-term disability account to the long-term account. That means you have probably been off work...
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...1. Introduction Recent research suggests that people who are compensated with an hourly wage make different decisions about using their time than do people whose pay is not as explicitly time-dependent (DeVoe & Pfeffer, 2007a, 2007b). The argument is that when people paid by the hour think about their time in terms of money, they are more likely to adopt an economic evaluation lens when making decisions about spending time and, in particular, will devalue uncompensated activities. The fact that under conditions of hourly payment people primarily use economic criteria for decisions about time use stands in contrast to much research showing that people generally make decisions about money and time differently (e.g., LeClerc, Schmitt, & Dube, 1995; Okada & Hoch, 2004; Soman, 2001). As one example of this phenomenon, Evans, Kunda, and Barley (2004) found that technical contractors, who sold their services by the hour, became economic evaluators of time. With money and opportunity costs salient, contractors devalued non-compensated time and acted as if they were constrained in their decisions about taking time off from work. DeVoe and Pfeffer (2007a) found that people in a nationally representative sample who were paid by the hour (compared to those not paid by the hour) or those in an experimental setting who were randomly assigned to calculate their approximate hourly wage rate (compared to those who did not) weighed the economic returns of spending time more strongly...
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...the research and development arrangement, SolvGen and Careway also entered into a five-year license and distribution agreement. Under the terms of the research and development agreement, SolvGen retains all intellectual rights to the results and is entitled to the following five nonrefundable milestone payments from Careway: 1. Exclusive negotiation payment — $1 million (paid December 1, 2005). 2. Contract signing payment — $2 million (paid January 1, 2006). 3. Commercial launch of instrument system Version 1 — $5 million (paid March 31, 2006, upon commercial launch of the instrument system). 4. Commercial launch of instrument system Version 2 — $5 million (not yet paid). 5. Commercial launch of instrument system Version 3 — $5 million (not yet paid). Under the license and distribution agreement, Careway will have the right to market and distribute the proprietary instrument systems. Careway is required to pay SolvGen for each proprietary instrument system as it is purchased by Careway. SolvGen recognizes the nonrefundable milestone payments when the payments are received over the remaining estimated contractual life of the agreements. Based on an evaluation of the circumstances, there are two deliverables in this arrangement that should be considered for separation: a. A license and distribution deliverable b. A research and development deliverable. The criterions for separation are: 1. The delivered items have to have a standalone value to the...
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... | |DIRECTIONS: Follow each step below. The charts on the next pages will help you stay organized. You must complete all the required information on pages 2-3. | |Your final work must be TYPED NEATLY. | | | |You will receive a “consumer profile” showing 1) your annual net income, 2) description of your lifestyle, 3) the amount of down payment you will put down, 4) | |the time period you will have to pay off the loan, and 5) the APR for the loan you will take out. Using that information, make a list of your NEEDS and WANTS | |for a new car using the table on page 2. You may want to add some details to your consumer’s profile. | |Calculate how much money you can spend on car expenses (loan + gas + insurance +...
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...through web, telephone etc. Today the most consumers have shifted their trend towards online shopping. So it is convenient for the customers to just register their order through web, whether you want DSL or WIMAX. It is as simple as click. Wateen offers its services, “full services,” in which customers can get any information at any time regardless of any hidden charges. [pic] An example of Wateen franchise Way of Franchising Wateen also has several franchises at different places, where it behaves as independent businesspeople, to use better words. These franchises help customers in different ways, like problem in internet connection, POP-UP problem etc. Here, Wateen has adopted full-service retail organization. Evaluation: Wateen needs to update its operations in franchises. For instance, it doesn’t entertain credit cards. Here’s a story of a student who faced this problem: I am a student, and living away from my home town in a private hostel in Rawalpindi. I am using Wateen’s WiMAX services for my internet means. Last month, unfortunately I was short of money and at the same time my Wateen’s connection was going to expire on August 28, 2008. I had no other option but to pay my bill though credit card. For the purpose, I visited Wateen’s Franchises in Rawalpindi at Satellite Town and Mall Road, but to my...
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...assessment, development and conduct of training and evaluations (Gómez, Balkin, & Cardy, 2012, p. 278). Training and assessment in the health care industry involves skills training, peer training, customer service training, creative training, crisis training and literacy training (Gómez, Balkin, & Cardy, 2012, p. 269). Employees in the health care industry require training and assessments on a daily basis to ensure they are properly functioning in a position. Training in the health care industry is essential for patients to receive excellent health care services and for the organization to be successful. Training helps staff members to provide a variety of care throughout different types of health care organizations, such as urgent care centers and neighborhood medical clinics (Mayhew, 2014). The overall process of training in the health care industry is to provide employees with specific skills needed to perform effectively in a position (Gómez, Balkin, & Cardy, 2012, p. 258). Importance of Training and Education in a Health Care Setting Training and education is important in a health care setting because it helps health care providers to protect and provide patients with proper health care services, which helps staff members to avoid making medical mistakes and helps the organization avoid any legal issues. Training also helps with proper diagnoses and treatment plans for patients, as well as insurance payments and other organizational costs. Training and education...
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...case in detail. The extreme view is that the optimal level of NWC is zero. This is based on the premise that working capital is an idle resource that provides little or no value to the stockholders. Research shows that there is a positive relationship between a reduction in working capital and stockholder wealth. However, is it possible for a firm to operate without any investment in working capital? It depends, probably not. Some investment in working capital acts as a shock absorber and reduces the firm’s risk and the cost of capital. 2. Describe the three motives for holding cash. Managers have a transactions motive to hold cash when expenses are unsynchronized with cash inflows. In this case cash provides a medium to fulfill payments in lieu of liquidating long-term assets. Thus, cash can reduce transaction costs and opportunity costs that stem from lost returns due to early liquidation. The transactions motive for holding cash is important for firms with unsynchronized cash inflows and outflows. Managers may hold cash for precautionary purposes because cash can buffer against unexpected contingencies or cash flow shortages; realized cash inflows may be less than expected. Precautionary cash holdings provide funding for purchases and repayment of debt, which are even more critical during tight credit periods when external capital is more difficult to acquire. Managers also have a speculative motive because cash holdings allow for the acquisition of positive net...
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...the world might be the same as hundred years ago. “Creativity, understood as fruitful originality, not mere novelty, is omnipresent in human experience, from the brilliant artistic works, inventions and discoveries that change the course of one life or many to the everyday efforts of problem solving seen in verbal or mechanical wit” (Caramenico & Goodman, 2013). On the other hand, commercial and trade also play a substantial role in the development of society. Moreover, the method of payment, which is a crucial part of business, has had a tremendous impact on individual’s lives. This essay will analyse the creativity of payments in two aspects which are motivation and imagination by examing the development of human society. This essay will also provide two real world examples to give a critical analysis of how creativity is applied in payments. The methods of payments are everywhere in people’s lives, such as shopping or transfer accounts. According to Babbush & Charles (2008), “payment is the performance of a duty or proise, the discharge of a debt or liability by the delivery of money or something else of value. ” The global growth increased broadly as expected to 3.75% in the third quarter of 2014, up from 3.25% in the second quarter (“IMF Global GDP Outlook”, 2014), averagely, keeping stable increase. Simultaneously, the finance industry developed rapidly and played an increasingly...
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...The Working Agreement Kathi Chambliss Course/322 August 1,2011 Connie Giles The working agreement has four parts, the assessment, goal setting, contacting, and evaluation. Not only will this paper explain each of these parts it will also apply them to a hypothetical situation known as Freydia. Even though Freydia is a 27, year that has been hooked on crack cocaine for 4 years, her children have been taken from her by Child Protective Services and placed in her mother’s custody, she is in a drug program and wants to get her children back. The purpose of the assessment is to answer some basic questions. Why was Freydia referred and why is she presented for help. In this case Freydia needs help with her drug addiction. This will also answer the “who” part of the question. Next one has to decide what information needs to be gathered from Freydia. How should this information be gathered and what methods would be used to gather the information. Where should the assessment take place, and when will the contract and the plan begin? The family is also assessed to determine how the unit as a whole functions. In the case of Freydia, knowing the family structures will be important because her two children will be placed in her mother’s care. There are many principles regarding a good assessment. First one should consider the relationship between the client and the clinician starts at the first meeting however things change as the relationship continues. Next the clinician...
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...qwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwer...
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...launching the new product. 3. What are the pros and cons of Whirlpool’s global sourcing strategies? Cons: Payment terms. Pros: To avoid delays in launching the new product. 4. How are suppliers identified, evaluated and selected? It was necessary to define the commodity and allocate responsibilities and resources through co-ordination of global and regional activities. Using the Sourcing Strategy Development (SSD) process in 4 steps: Step 1: internal analysis, identified and prioritized the process –partner requirements, then evaluated the performance of the existing supply base and reviewed the existing supply base, it also identify the switching costs. Step 2: external analysis, which includes analysing the supplier industry and competitors and evaluating competitor performance and strategies. The evaluation process makes use of SWOT (Strength, Weakness, Opportunities, Threat). Step 3: strategy development, is to analyse the competitiveness and their financial impact. Preliminary negotiations could be carried out, a suitable strategy and suppliers should be selected and the critical path for implementation should be defined. Step 4: implementation, wherein the planned strategy is put into play, give feedback to the chosen process partners and suppliers and final negotiations will be nailed down. 5. What do you think of the evaluation process? There are some issues with the corporate-level and the global-level and to find the right region or...
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...Study of Overall Finance Department at BHEL, Bhopal SIP project report submitted in partial fulfilment of the requirements for the PGDM Programme Institute of Management Technology, Nagpur 2010-12 ACKNOLEDGEMENT I take this opportunity to extend my deepest gratitude to all those who have helped me in the completion of this project and my Summer Internship Program. First of all I wish to express my profound thanks to the management of the Institute of Management Technology, Nagpur for providing me a platform for industry exposure and training. I am thankful to Mr. Girish Shrivastava, GM HR, BHEL Bhopal, and Dr.G.L.Pradhan Coordinator, BHEL Bhopal, for showing trust in my abilities and providing me an opportunity to work and have a learning experience. I have put in my best efforts to justify this trust and to ensure that the value addition resulting from this project is mutual. I am extremely grateful to my Company Guide Mr. K.S. Mathur, Sr. DGM Finance, BHEL Bhopal, for providing the guidance and advice towards the completion of this project study. His constant support and valuable inputs from time to time helped me a lot in conducting this study. The resources and the documents provided by him also helped a lot. Guidance from my Institute guide, Prof Agam Nag, has played a significant role in the preparation of this report. His experience in academics contributed a lot to the conceptual framework discussed in the report. I would like to express my thanks to Prof...
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...Phases of Control Evaluation ACC/544 Bunney Schmidt January 28, 2013 The purpose of the internal control evaluation is to assess control risk and provide useful information to management and directors for carrying out the company’s control mission (Louwers, Ramsay, Sinason, & Strawser., 2007). The first phase of the audit cycle is to understand and document the client’s internal controls. This phase introduces the auditor to the client’s control environment and management’s risk assessment (Louwers, Ramsay, Sinason, & Strawser., 2007). Phase two of the audit cycle is to assess the control risk. This phase analyzes the control strengths and weaknesses to assess the control risk (Louwers, Ramsay, Sinason, & Strawser., 2007). The third phase is to perform tests of controls and reassess control risk. In this phase of the evaluation the required degree of compliance with the control policies and procedures and the actual degree of compliance are determined (Louwers, Ramsay, Sinason, & Strawser., 2007). For the accounts payable process the first control objective is to make sure the purchase orders are only used by authorized individuals. If the policies and procedures are not effective in holding individuals accountable for unauthorized use, this could provide a control risk for the company. It is important that po numbers are used, and they are kept track of. They should also be approved by management, and all vendors should know who is authorized to make...
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...requesting agency with an objective, third-party evaluation of their tactical team or a single incident with the ultimate goal of enhancing the tactical capability and professional standing of the requesting agency. The review and assessment process begins with preliminary discussions to determine the needs and objectives of the requesting agency. A formal agreement identifying...
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