...because they keep the organization running smoothly without issues arising. The HR manager and the manager for Riordan have to communicate among one another to ensure that feedback is given to all employees after their annual performance reviews. Last the compensation and benefit packages should be laid out in detail so that employees understand what they are being compensated for. Performance Management Systems Organizations create performance management systems to monitor employee’s strengths and weaknesses in the work environment. Improving productivity is the primary purpose for organizations creating performance management systems (What are the Functions of Performance Management Systems, 2012). Successful organizations are always seeking improvement and development through successful plans that will optimize an organizations future. Management responsibility is to motivate his or her team members to reach the ultimate productivity goals of one’s organization. Performance management systems ensure that employees fully understand specific work tasks and can also perform these in pressure situations. Employee growth also is a component of performance management systems. Employees have different skills and strengths in different areas, and many times incentives from organizations will create employee growth. For employees to grow, organizations should conduct periodic performance reviews to ensure that each employee’s receive the right training and coaching. Also rewards...
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...Financial strengths and weaknesses of the symphony Financial weaknesses of the symphony are cash flow due to low fund raising, and high expenses resulting from artist compensation. Financial strengths of the symphony consist of high ticket sales and a large amount of concerts performed during the year resulting in high gross revenue. Leadership strengths of the symphony would be in part to Keith Lockhart's report with the musicians, and his artistic vision. Leadership weaknesses of the symphony would entail the vacant CEO position and the changing of the chairman of the board during the merge. A1a) Key steps Anne should address financial weaknesses of the symphony by implementing higher fund raising goals and by meeting with the musicians to renegotiate contract for compensation to lower expenses. Anne should address the leadership weaknesses of the symphony by empowering Keith Lockhart to have additional decision making authority over the symphony. A2) Financial strengths of the opera are positive cash flow, cash reserves and assets as well as fund raising. Financial weaknesses of the opera would include net loss on rental income and expense, and slipping ticket revenue. Leadership strengths of the opera would include Anne's leadership, experience, and management practices. Leadership weaknesses of the opera would include the resignation of Leslie Peterson, the daughter of the founder. A2a) Anne can address the financial weaknesses of the...
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...The Welfare System Orsola Nelson May 16, 2012 Kaplan University Human Services and Social Policy – HN300-01 Michelle March The Welfare System got its start in the 1930’s under President Franklin D. Roosevelt following The Great Depression. It started with The New deal but it was not until 1935 when individuals saw welfare for them and their needs. This was the start of The Social Security Act of 1935. In this act provisions were setup to include Old Age assistance and benefits, unemployment compensation, aid to dependent children, maternal and child welfare, services for crippled children, child welfare, public health work and vocational rehabilitation (National Center, n.d). The Food Stamp Program started in 1939, but was ended because there was no longer a widespread food surplus or unemployment. However, the program resurfaced in 1961 after reports, studies and federal proposals in 18 years showed a need for the program to continue (USDA, 2012). The next set of welfare programs came during Lyndon B. Johnson’s presidency in the 1960’s. President Johnson had The Great Society that was like President Roosevelt’s New Deal. The Great Society included the Economic Opportunity Act of 1964 which aimed at attacking poverty in America. The Job Corps, Head Start Program, Medicare, The Peace Corps, Omnibus Housing Act, The Elementary and Secondary Education Act and The National Endowment for the Arts and Humanities were all created in 1964 under Johnson (U.S. History...
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...Eureka Forbes Ltd. Managing the Selling Effort (A) - Notes 1. Should Goklaney roll out the new “Bettering the Best” program through the entire sales organization? What changes would you recommend (if any) to the current plan? Why? What risks do you see? 2. Define the role of the EuroChamp. What are the sales tasks that the firm wants the EuroChamp to undertake? 3. What are the qualities of a good EuroChamp? Compare and contrast the EuroChamp with other examples of sales representatives. 4. Explain the reasons for the sales process failures that Goklaney observed in the field. What are the reasons for the current situation? 5. Do you agree with the firm’s current approach to compensation? How does the new program change this approach? 6. Assess the other aspects of the sales management practices at Eureka Forbes Ltd. What changes would you recommend (if any) to the firm’s approach to recruitment, training, supervision, evaluation, and compensation? Important Facts of the Case 1. Eureka Forbes Ltd. (EFL), a joint venture between Forbes Group and Electrolux formed in 1982, is the leading company in India in consumer durable products like vacuum cleaner and water purifier. 2. Over the years, EFL has effectively utilized the direct selling approach by setting up the largest field sales force in Asia comprising of 5,000+ sales representatives called ‘Eurochamps’ for its two main products, EuroClean vacuum cleaner and AquaGuard water purifier. The image...
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...HR Audit “The things that get measured gets managed” www.humanikaconsulting.com Agenda 1. Introduction 14. General Auditing Method 2. Challenges For H.R. 15. Methods Of Hr Audit Department Eight Challenges 16. Research Approaches To Audits 3. Meaning & Purpose Of Hr 17. Hrm Auditing Process Audit 4. Purposes Of Hrm Auditing 5. Objectives Of Hr Audit 6. Benefits Of HR Audit 7. Frequency Of HR Audit 8. The Principles Of Effective Hrm Auditing 9. Types Of HR Audits 10. The Scope Of Human Resource Audits 11. Hrm Audit Measures 12. HR Standards 13. Task Auditor INTRODUCTION • “How does a firm know if its human resource practices have an impact on business results? • “..most professional service firms and organizations complete an extensive audit of their financial statements on an annual basis, but the programmes involving “people”, such as recruiting, training or pay-for-performance are seldom given the same scrutiny.” • “..the starting point for enterprises wishing to manage their human capital successfully and seeking a labour competitive advantage is activities of the HR department.” CHALLENGES FOR H.R. DEPARTMENT EIGHT CHALLENGES IDENTIFIED BY DAVE ULRICH (1997) Globalization The H.R department will need to create models and processes for achieving global activeness, effectiveness and competitiveness. Managing the Value Chain for Business Competitiveness Innovation Faster Decision Making Price or Value Advantage Effective linking with Suppliers ...
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...1. The old performance measurement system had the following problems: - It did not provide information on the product mix being produced. It provided data on total tonnage produced, but did not breakdown “what” was produced. - The system compared “actual” to “objective” but did not provide data on what factors caused variance. - Costs were not broken down by: o Fixed costs o Variable costs o Relevant Range - Reports were generated on the 15th day following each month end. Therefore, time lag would not allow the managers to take immediate corrective actions. - It did not measure Key Performance Index (KPIs’) for each department. - The system did not highlight data that was outside the norm. - Between 1985 – 1989, Melt Shop man-hours (MH) have been reduced by 20.4% but $/NT has only reduced by 8.4% - Reports generated by the system had too much information and not easy to read. The melt shop report (Exhibit 3) alone had 46 separate expense categories. Gary Downey, the melting shop manager, acknowledged that “some of the items were quite small in dollar value.” - The system did not provide information on bottlenecks related to the melt shop. - The system also did not provide any information on quality control. It did not provide breakdown on what percentage of production met quality standards, what percentage failed, and what percentage of items failed a customer’s...
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...INTERMEDIATE SANCTIONS Take the following intermediate sanctions and list them in order of the sanctions that you believe are most effective (1 for most effective and 8 for least effective). For each one, describe its strengths and weaknesses with respect to the goals that should be accomplished: 1. Intensive Probation Supervision - Intensive probation supervision is used when offenders need more strict supervision that what regular community programs are able to provide. Intensive probation programs impose on the offender strict conditions when it comes to reporting to the probations officer. This probation officer in turn has a limited caseload. There are two types of intensive probation supervision. Probation diversion is intensive surveillance and is used on high-risk offenders. Institutional diversion is used for low-risk offenders and is supervision in the community. Weaknesses: This program may have a limited benefit on offenders who have many problems, such as unemployment, lack of support, and drug and alcohol problems. Some argue this program actually increases the number of probationers sent back to prison. This is because probation officers have closer contact with the offender and will discover more rule violations than regular probation. Strengths: Intensive probation programs have been shown to decrease the chances of reoffending if non-criminal behavior is rewarded (Cole et al., 2013). 2. Day Reporting Centers - A day reporting center is where...
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...BUS 681 Entire Course Compensation and Benefits http://www.devryguide.com/downloads/bus-681-entire-course-compensation-benefits/ To purchase this tutorial copy and paste link in your browser. BUS 681 Entire Course Compensation and Benefits Week 1 Compensation Strategy. Discuss the general goals of an organization’s compensation system, including how a compensation strategy works to support the organization’s business strategy. Respond to at least two of your fellow students’ postings. Compensation Practices. Discuss the various factors that influence a company’s competitive strategies and compensation practices. Assess how a company can mitigate these factors using effective compensation practices. Respond to at least two of your fellow students’ postings. Journal Article Research and Analysis. Using a variety of research techniques, write a 3-5 page essay that summarizes the impact and affect of compensation within an organization. This essay should be based on research obtained through a minimum of three Journal articles. Week 2 Seniority and Merit Pay. Define the concept of seniority and merit pay plans, including the strengths and limitations of such plans within an organization. Discuss the job, organizational and/or other factors that should be considered when deciding between the two. Respond to at least two of your fellow students’ postings. Incentive Pay Plans. Discuss how incentive pay plans – both individual and group – motivate employees to achieve...
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...rights to dispense the material. This endless availability to material is made possible with modern technology and DRM protects the material from electronic copyright theft. Once the material is purchased by a user it is still under control of a DRM and may only be compatible with a particular device or service, creating an ethical dilemma. There are strengths and weaknesses, other than availability and ethical implications, associated with DRM that are still changing with new technologies. History, Evolution, and Current Status DRM has been in existence since material required copyright, controlling access to material and distribution. Creators of the material find that DRM protects their rights to compensation of ideas, products, or services. This is more difficult when the Internet became popular; programs and applications have replaced older methods of copyright protection but this decreases user control. The restrictions have evolved with advancements in technology that allow service providers to use DRM to limit what and how material is gained, used, or distributed. This has not been a benefit to the consumer because it limits what devices or applications can use the material downloaded, even if acquired through legal methods. Currently companies are decreasing the amount of control they have on copyright protection to entice customers to switch providers to those that offer control to use downloaded material on any and all personal devices. Copyright protection The Internet...
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...Limousine with their Employment Law Compliance Plan, and their Compensation and Benefits Strategies recommendations. Next, we will like to explore a Performance Management Plan. According to the video, Performance Management 2014 by the University of Phoenix, “Performance Management Systems helps to achieve objectives in the strategic plan. It aligns all of an organization’s resources to achieve the best possible result. It is the process of creating a work environment where employees can perform to the best of their abilities.” Performance Management also focuses on teams and the organization as a whole. Atwood and Allen Consulting will begin assisting Landslide Limousine in this area. According to Cascio 2013, “At a general level, the broad process of performance management requires that you do three things well: 1. Define performance. 2. Facilitate performance. 3. Encourage performance.” Defining performance Landslide Limousine want to ensure that during the interviewing process, they clearly define performance. It must be understood by the employees what is expected of them. In Cascio 2013, it states, “A manager should pay attention to three key elements and they are goals, measures and assessments.” When employees have goals, they have a target they are aiming towards. They know exactly what they are trying to obtain or achieve. Therefore, it is imperative for Landslide Limousine to outline what performance means to their company and the steps that employees...
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... Business Analysis Part I- Microsoft Corporation As a mutual fund manager, I have decided to do some research on the company named “Microsoft” in order to make a decision on whether I would make an investment on this particular company. My research will aim on Microsoft’s history, its current statistics of its employees, annual sales; the products it produce and etc., SWOT analysis, finding out what its Internal and External Stakeholders wants and needs are from the company and whether the wants and needs were met/fulfilled. History of Microsoft Microsoft was invented by a young man named Bill Gates who drops out of Harvard College and Paul Allen in April 04, 1975. Both Bill and Paul the first PC computer language program to MITS (Micro Instrumentation and Telemetry Systems) computer developed. The following year Paul Allen resigns from MITS to join Microsoft full time. The trade name "Microsoft" is registered with the Office of the Secretary of the State of New Mexico "to identify computer programs for use in automatic data processing systems; pre-programming processing systems; and data processing services including computer programming services." In 1977, Bill Gates became president and Paul Allen the Vice president of Microsoft Corporation. Microsoft moved its offices from Albuquerque, New Mexico to Bellevue, Washington in 1979.The trade name "Microsoft" was officially used for the first time by bill gates in a fortune magazine interview in 1995. Microsoft word version...
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...Case Study B: Better World Books 1. What are the vision, mission, and values of Better World Books? Critically evaluate them. Are they helpful to the company’s leaders in formulating strategic intent? Why or why not? Better World books has a very unique and intuitive vision in my opinion, they have found a way to make a huge profit from something that is basically is an environmental issue. Their mission is clear, they want to be the company all other companies model their companies after. They are starting a movement in which all other companies should try and emulate to be, which is a great idea because there is no cost for the books that they acquire, and at the same time turn around and make a positive impression on the earths environment and multiple communities around the world. They have taken their love for books and reading and found a way to be environmentally conscious while still creating a successful company that makes profits and bring literacy to people all over the world. Better World Books make many smart moves as a business; they invest well, and waste not. I believe that Better World Books have an ideal business blueprint that many companies can model and be financially successful while still being conscious about how you do business. 2. Analyze the ways in which BWB strives to achieve a triple bottom line. Is this business model sustainable in the long term? Why or why not? Better world books have achieved the triple bottom line approach;...
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...region. * What specific market are you targeting and what revenues do you hope to achieve? * How will you achieve success? * What are the key country factors that impact (positively and negatively) success of your entry? * Why is this opportunity important for your company? * Country Factors: Political and Legal * Describe the political and legal system in your target country. * What are the major trends? * What is the local government’s attitude to foreign business? How is the government involved in business activity? * What are the risks and opportunities to your business given the political and legal climate? * Country Factors: Economic * Describe the economic system in your target country. * What are the major trends? * How is the local economy performing on the world scene and how might this affect you? * What are the risks and opportunities to your business given the economic climate? * Country Factors: Cultural * Describe the major cultural issues in your target country: * Language * Religion * Education * Social * What are the major trends? * What are the risks and opportunities to your business given the cultural climate? * Competition * Who is the competition, both direct and indirect? * What is their standing with the local cultural and government? * What are their relevant strengths and weaknesses and how does this compare to your strengths...
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...offered. This company believes that innovation to be the cornerstone of 3M’s future success. Current management has continued to embrace and expand these policies and philosophies. That is why researchers interested in evaluating policies and 3 M that philosophy is based on the innovation in the implementation of the strategy of differentiation 2. Motivation Motivation researchers conducted a study of control for differentiated strategies in Minnesota Mining & Manufacturing Corporation (3M) because the researchers wanted to know more about the factors that influenced the design of the system and also the policies and philosophy rooted in the innovations made by 3M Corporation. By studying and examining the existing policy and philosophy that is rooted in innovation from the company, researchers can get a clearer picture of how to do a proper evaluation and what steps should be taken when problems arise in the future. 3. Research Question Evaluate the policies and philosophies of 3M from the standpoint of helping the company implement its strategy, rooted in innovation. 4. The Aim/Objectivity To provide evaluation policies and philosophies used by the 3M Corporation in implementing the strategy of differentiation that is rooted...
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...cases). a) Assume that we have a CEO that does not have 100% ownership of the company but has an ownership stake of 33% with no other shareholders having a significant ownership stake in the corporation so that the CEO has effective control over decision making in the organization. What are some of the advantages of the CEO having such a large ownership stake in terms of controlling agency costs? (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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