Compensation is Key to a Successful Business Essay

Compensation is Key to a Successful Business Essay

Length: 1081 words (3.1 double-spaced pages)

Rating: Good Essays

Open Document

Essay Preview

Executive Compensation Business Key To run a successful business there are some master minds and professionals required who are not suppose to run the business only but should also know that how to take the business in the correct way and get more profit from that. They are not only focusing the current business location but also preparing the schedule for the future planning. The business is depends on the management and the managements is depends upon the managers, who are running the business in the smooth way. The institutional management is required for running the business so that the lack of communication between the employer and the employee has not happen. If the employees are satisfied for their demands the growth-required production will reach, and the company gets more profit. Key Posts To run a successful and a large setup business there are some hidden actors behind the scenes. Chair Persons, Executives, Chief Executive Officers, Managers etc are not only the good planners but also a major shareholder to get the company’s goodwill in the market. They played an important role in the company. Their salaries and compensations are not enough if they are a professional and played an important character to bright the company’s name in the local or international markets. Factors Depends Upon A Good Executives A good executive may have ability of his higher education, experience, market privilege and age benefits. Executive are so called, mastermind of any business, so if they are not capable according to their fieldwork they could be more harmful of a company. Types Of Executives Compensations There are many types of Executive Compensations, but it can also depend on the company’s structure what they are adopti...

... middle of paper ... These graphs also help them to discuss by the Board compensation committee to review their executive compensation according to their performance in that given fiscal year. Bottom line A company is all-dependent to the good management and business skills. If the executive board members shows their individual skills and performed a positive attitude with sincerity then no doubt that the company will successfully reaches his higher destination. For that, the company must have sacrifice with the philosophy of give and take. The compensations and intentions of the company are the reward money to any good performer executives. References International Edition, Management by Bovee, Thill, Wood, and Dovel – The McGraw-Hill Companies, Inc.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on Employee Compensation Programs

- Benefits have most definitely changed throughout the past years. According to Compensation, during 1880 people worked approximately 14 hours every single day except on Sundays and would only receive a raise if they stayed with the company for five years and if the company prospered during that time (Gerhart, 2011, p. 414). Over the next couple of years, employees began seeing work hours change from 60-64 hours per week to 54 hours by the year 1930. Eventually, employees were able to have holidays off to enjoy with families, but they still did not receive pay for those off days, though....   [tags: Business Management ]

Good Essays
1410 words (4 pages)

compensation Essay

- Basis For Compensation Premier Conferencing basis for compensation is based on individual, team/organizational efforts. Premier’s associates are their greatest assets and they work collaboratively to achieve a rare degree of success to satisfy their client’s unique needs. In doing this, Premier’s employees work hard at their jobs to provide outstanding service to their customers, therefore received above average pay, both individual, team players, and organizational. It’s great that Premier Conferencing emphasizes on having fun in the workplace while being productive and successful in increase sales and commissions....   [tags: essays research papers]

Good Essays
702 words (2 pages)

Company Should Institute A Market Competitive Compensation Program Essay

- 1. Tomax Corporation has 400 employees and wishes to develop a compensation policy to correspond to its dynamic business strategy. The company wishes to employ a high-quality workforce capable of responding to a competitive business environment. Suggest different compensation objectives to match Tomax’s business goals. The pay for performance standard is the first place a company should start. This would be a reflection of if you perform, then you are rewarded. This type of standard raises productivity and lowers labor costs due to only paying top dollar for the people driving and contributing to the organization....   [tags: Employment, Wage, Minimum wage, Wage labour]

Good Essays
732 words (2.1 pages)

Case Study Regarding Compensation / Discrimination At R & S Electronic Service Company

- Many businesses, employers, and employees are often faced with tough decision within the workplace that could forced them to make decision based on legal decision, moral decisions, and ethical decision. After reading the case study regarding compensation/discrimination at R&S Electronic Service Company, I have determined that all parties within this case scenario of stakeholders. Stakeholders are defined as any person with an interest or concern of a business. As we begin to identify the key stakeholders and their specific interest in the Family Business we must break down each individual and the role they play in the business....   [tags: Ethics, Immanuel Kant, Employment, Philosophy]

Good Essays
863 words (2.5 pages)

Successful Business Through Effective Human Resources Strategies Essay

- PART 1 ‘Ensure the success of your business through effective human resource strategies’ Strategic Human Resource Management provides an all-inclusive framework for which all the people management practises is applied in order to achieve the organisational objectives. Strategic Human Resource Management takes into account the organisational goals in the intended general direction so as to be able to achieve its objectives. The fact that intellectual capital is a key source of competition for organisations, and the fact that it is people that implement the organisational strategic plans....   [tags: management, employees, performance]

Good Essays
2418 words (6.9 pages)

Essay about Business Analysis of Outback Steakhouse

- Business Analysis of Outback Steakhouse This essay answers the following questions. 1) What are the standout business and economic characteristics of the restaurant industry. 2) What are the key success factors in the casual dining portion of the restaurant industry. 3) Do a SWOT analysis of Outback Steakhouse. What does it suggest. 4) Is the ?Principals and Believes. Policy Successful. 5) Evaluate Outback?s Financial Performance and present conditions. 6) What major issues and conditions is the restaurant industry facing....   [tags: Business Management Studies]

Good Essays
1777 words (5.1 pages)

Differences Between Business Strategies and Functional Tactics Essay examples

- Differences Between Business Strategies and Functional Tactics 1. FUNCTIONAL TACTICS Functional tactics are the key, routine activities that must be undertaken in each functional area that is human resource management, marketing, finance, production/operations and research and development to provide the business ‘s products and services. Hence functional tactics translate thought (grand strategy) into action designed to accomplish specific short- term objectives. Every value chain activity in a company executes functional tactics that support the business’s strategy and help accomplish strategic objectives....   [tags: Business BPR Marketing Economy Essays]

Good Essays
6824 words (19.5 pages)

Essay on Aerospace Company: Boeing

- The company I chose to look at from the fortune 500 company list was Boeing. “Boeing is the world's leading aerospace company and the largest manufacturer of commercial jetliners and military aircraft combined. Additionally, Boeing designs and manufactures rotorcraft, electronic and defense systems, missiles, satellites, launch vehicles and advanced information and communication systems. As a major service provider to NASA, Boeing is the prime contractor for the International Space Station. The company also provides numerous military and commercial airline support services....   [tags: commercial jetliners, successful business]

Good Essays
960 words (2.7 pages)

Business Analysis of Google and Nortel Essay

- Business Analysis Team C analyzed two internationally known technology firms: one that has succeeded and one that has failed within the past five years. The successful company chosen was Google and the failed company chosen was Nortel Networks Corporation, also known simply as Nortel. From this analysis, the team members were able to determine several key indicators for both the failures and successes of each business as well as the role of organizational structure and leadership. The team then also developed a plan to implement change that would prevent impending failure and revamp the failing business....   [tags: Google, Nortel]

Good Essays
1722 words (4.9 pages)

The Spirit Of Sustainable Business Operations Essay example

- In the spirit of sustainable business operations, I have named my brewing company EcoBrew. The mission of EcoBrew will be “To provide an affordable and sustainable beer that quenches ones thirst for both a well-made brew and an ecologically sound business operation.” I plan to nestle the self-sustaining operation in a quiet valley along the Colorado River, in the New Castle area. The strategic placement of the main operation facility is in an attempt to provide adequate water for the agricultural needs of the business....   [tags: Wind power, Renewable energy, Sustainability]

Good Essays
1240 words (3.5 pages)