Problem 1:- “George’s new Hair salon” George is having issues in finding the structure of the pay to the employees. Challenge is to find the wages using a decision support tool. Solution:-By finding the break-even point in the number of jobs i.e. no. of haircuts will help George to assign pay structure to the Hair Stylists. Scenario 1: Pre requisite: - Fixed rate of 40$ per hour. Salary is found by multiplying the Hourly wage and the planned work hours. Formula used in excel with reference to the below screenshot (cells), C6*C7*C8 Total Cost for George per year is 470,000$ (Fixed Annual Cost + Salary for the employees) including the salary for the employees as show in the below screenshot. Total Cost for George per year is 470,000$ (Fixed Annual Cost + Salary for the employees) including the salary for the employees as show in the below screenshot. Using “What if” function, click “Goal Seek analysis” to find the no. of haircuts. Total no. of Haircuts = 9171 Scenario 2:- Pre requisite: - Fixed hourly rate of $20 per hour + a commission on each haircut of 20% of the cost of the haircut. 20% of cost of the haircut can be calculated by 0.2 multiplied by Hair cut cost for men. Similarly it can be calculated for women. Break-even Point i.e. the no. of haircuts can be found using Goal seeking analysis. Total Cost can be calculated in excel using the below formula:- C23+(1600*5*20)+(C27*C34*C29)+(C34*C28*C30) Revenue can be calculated as shown in the formula (C34*C24*C27)+(C34*C28*C25) (Total No. of hair cuts * Hair Cut – Men * Expected men : women Ratio (men)) + (Total No. of hair cuts * Hair Cut –Women * Expected men : women Ratio (women)) ... ... middle of paper ... ...approach. This is reason by which the decisions support tools or the techniques are created for the betterment of the bank or any other firms. To add on, the lift curves are also generated to show the comparison of the values. These results are useful for the firm to take a decision based on this report. To foresee the future of the company in a better way, we require the best possible approaches or the results which yield maximum profit to the organisation. These approaches lay a strong foundation to achieve the milestone of a company. To conclude, “Logistic regression” is a much better approach when compared to other approaches. This provides a better value enabled performance that leads to high level of marketing and the customers respond in a bigger way. We can witness a consistent approach, thus it is confirmed by showing the high area value.
13. Also add a touch of hair spray to make the style last longer. (See Figure 1.12)
Compensation is made of a base salary (paid by the hour, work or the year; excluding overtime or bonuses), variable pay (bonuses, profit sharing/stock options which work hand and hand with the performance of the company), and benefits (to include health insurance/savings plans – 401(k), or tuition reimbursement). The traditional way of determining base pay for jobs was to compare jobs in the same industry. Now industry and market, no long work by themselves, the current thinking is more person-based that considers knowledge, skills, and competencies of the work. This, however, is best suited for high-performing environments that remain flexible in their deployment of human capital.
In relation to this course, it is necessary to have various fields of study, and cosmetology does not exist at our college, therefore it is important to introduce this course. I am certain that there will be a positive affect because the job options are plentiful in this specific field of study. The yearly average
“The math is .80*54% and it comes out to 43%. According to the 4/5ths rule, 43% of hires for drivers should have been female.”
The number of men compared to women that I saw within this time was 22:16. The number of racial minorities that I saw compared to the number of whites was 7:31. The number of obviously homosexual couples that I saw compared to the number of obviously heterosexual couples was 1:7. The number of adults
1) Total Variable Costs are 60% of Total Costs; While the other 40% are from fixed costs.
Tierney presents the ratio right off the bat, that "The gender gap is projected to reach a 60-40 ratio
What tools are available to assist teams in making a decision? In addition to creating an environment for effective decision making and reaching consensus on methods for making decisions as a team, there are tools that can assist teams in formulating and reaching decisions. Many of these tools were developed in the 1990s as companies working on improving quality and introducing self-managed team into the workplace. In decision-making there are many different decision-making models to assist us along the way. One thing with every decision- making model there are several decision-making tools needed to help narrow down the amount of information to only the ideas that are relevant to the decision at hand. In this paper we are going to examine one of the many different decision-making tools that can assist us in this process. The specific decision-making tool we shall discuss is for team-based decisions.
Deciding which pay form to use when compensating employees is extremely important to a company. Many things are taken into consideration: labor costs, the correlation between performance and pay, customer service, and the ability to attract and retain employees which is extremely important to FastCat’s need for innovation. We believe a single pay structure coincides with our single based plan for the organization. We want to keep things simple and understandable to all areas of the organization. This strategy will allow employees to understand how their performance and the performance of others relate to the success of the company through specific measures. It is also important that the strategies align with the objectives of FastCat. We beli...
The number of individuals in my targeted population is six. The genders of these six were 5 females and 1 male. The participants are within the age group of 15+. I intend to recruit my participants through finding people that I am regularly with. My participants will be interviewed personally.
“It’s my hair.” Says a growing and distinctly baritone chorus from all over the U.S.” and I can do what I want with it.” Thus in this age of revolt, springs one more rebellion-this one against the close-trimmed male haircut.
Jablonsky and Chaplin states in their article that when it comes to us not having as much hair, we have looked a...
Therefore came wigmakers both men and women wore wig. "The men used slightly gray colored and women used all kinds of colors".( Found in the article the barbers history in the wig makers paragraph) "At the end of the 1970's men started to wear their hair long around that time it was only men doing men hair and women doing women". (Found in The Reborn of the barbers profession paragraph) In 1980 to make life easier and their clientele pop unisex barbershops were created and to this day is the profession we know as barbering.
During the last few years, Harry Davis Industries has been too constrained by the high cost of capital to make many capital investments. Recently, though, capital costs have been declining, and the company has decided to look seriously at a major expansion program that had been proposed by the marketing department. Assume that you are an assistant to Leigh Jones, the financial vice president. Your first task is to estimate Harry Davis’s cost of capital. Jones has provided you with the following data, which she believes may be relevant to your task.
A lot of women love to look good on a day to day basis, so a cosmetologist is what they need. A cosmetologist is a beauty specialist who is educated in doing hair, makeup, and nails. It’s very interesting because you get to be creative, have fun, have people looking gorgeous, and get paid for doing something you love. In this paper, you will be introduced to a lot of information in the field of cosmetology. Learning about the history and background, requirements to obtain the career and job positions will be covered throughout this paper. Towards the end you’ll get a touch of the job reflection and outlook. A lot of great information is listed, so there should be plenty of it learned.