Excessive turnover and absenteeism normally will result in the organization paying additional cost to recruit and train new employees which can and normally will impact the company bottom-line. The problem with many companies today is the inability to recognize that job satisfaction is directly related to their bottom-line and therefore, do not place job satisfaction as one of its urgent administrative priority. This issue is based on organizational failure to recognize the substantial advantages an organization could realize by making an effort to influencing employees’ outlook. When an organization has content employees, they are more inclined to be productive and committed to work and their employers. It is imperative that organizations establish a work environment that entice, inspire and retain the best people which in turn will be beneficial for organization.
Explain the various Group Incentive Wage Plans . Retrieved March 30, 2014, from Education Observer.com: http://www.educationobserver.com/forum/showthread.php?tid=13111 Sani, A. D. (2012). Strategic Human Resource Management and Organizational Performance. Business Intelligence Journal, 10.
Differential Analysis-status quo compared to the revenue and costs of other alternatives in decision making. Short term and long term Short term-capacity unchanged-one year or less. Effect on cash flow not important and ignored Differential costs-when a cost differs between alternatives. Removed or added when another alternative method is chosen. Sunk Costs-previous costs unchangeable by decisions made now or in the future Differential Costs vs. Total Costs Deciding between status quo or an alternative Status Quo Alternative Difference Sales revenue $750 $900 $150 Variable costs (250) (300) (50) Contribution margin 500 600 100 Fixed costs (350) (350) 0 Operating profit $150 $250 $100 Full Cost-all fixed and variable costs to manufacture and sell a unit- covered long term Variable Costs-needs to always be covered Special Order-does not affect other sales –short term event Decision with Short-Run pricing When special order does not impact current sales and nonrecurring Estimate the normal operating data for a time period Determine the value of accepting special order Select one that value is the highest (from above chart this alternative would be chosen because it produces a profit to the company) Decision with Long-Run pricing Setting prices full cost information is relevant in making pricing decision.
It is extremely unethical that ordinary people obtain a larger salary than those who have more experience. Minimum wage should be the same for every person that start a new job. As a legal adult in today's society, I recognize how the nation financially struggles on a day to day to basis which leads me to believe that minimum wage should be raised and nationalized. Each person in the world should be treated the same way and stop being judged for how they look. For example: when potential employees wear ripped clothes and do not look professional, they do not want to hire him or her because they believe they cannot work.
It can cause inflation, forcing civilians to limit their lives according to what they have in their pockets making their lives a little bit more difficult. Also raising the minimum wage will cause unemployment because now the owners of different companies have a shorter mortgage and have to make some adjustments in their business which apparently seems to be getting fired some employees. Furthermore, increasing the minimum wage will lower the funds and resources that many companies need to run their business, because now besides of paying more to get the resources they also have to pay their employees more. Indeed raising the minimum wage nationwide will affect our economy, not benefit the
Concepts, Models and Schools of Strategic management One of the duties of the managers of a company is to engage in strategic decision making. Strategic management is a broad subject on its own that borrows from other social science disciplines. According to AllBusiness (2011), strategic management involves all the activities undertaken by management to better place the company in the industry it operates in. It is important for every manager to realize that his firm does not exist alone in the business environment. Its environment has parties like competitors and customers, both internal and external; suppliers and government authorities that must be analyzed and addressed appropriately.
• The drivers working on holidays would receive remuneration. • Increasing the maternity and paternity leaves which are approved by medical leave act. This UPS strike 1997 can show us that low wage employees can accomplish their demands, when the play as team. Nevertheless the UPS workers show that, what you can achieve when you have the world behind you. The reasons behind the agreement: • Discrepancy between the Teamster and UPS comes because UPS was at a position of weakness • UPS was losing millions of dollars daily by not delivering packages • UPS was not well prepared for the strike, which put the Teamsters in strong position to build pressure on UPS to meet their demands • UPS bargaining power were not strong, which forced them to to make a deal in favor of the
When in a leadership role, one has to stand their ground and not be afraid to be honest with others, take action, and execute their plans even when it is not so popular. Financial leadership requires a great amount of responsibility, which is why one must set strategies and plans to make informed decisions about a company’s direction. With a clear understanding of an organization’s goals, a leader must have the skills to accurately communicate their actions to move forward (Telberg). As I mentioned before, a leader is an inspiration to his or her clients and employees. Without financial leaders, companies would ultimately collapse.
http://www.businessknowledgesource.com/blog/ways_to_improve_your_human_resource_management_processes_030588.html. 25 April 2014. What Are the Different Ways to Improve Human Resource Management? n.d. http://www.wisegeek.com/what-are-the-different-ways-to-improve-human-resource-management.htm. 25 April 2014. wilton.
So he took it upon himself to manifest his own duty description in order to justify his position. Roles and responsibilities define what each person does in a company. Kumar (2013) states, “In order to effectively manage your staff and meet company objectives, it is important to provide everyone with a clear definition and understanding of their role, function, and responsibilities in the workplace. Failing to define workplace roles and responsibilities can create tension, mis-communication and inefficiency within your business” (Kumar, 2013, ¶. 3).