Return on Investment Analysis
Profit
Every business must devise a means to make and measure the profit from an investment. Profit reflects the very nature of business. Businesses that provide a product or service want to know if their efforts in a particular field will result in financial gain (Wiens 1997). The concept "Return On Investment" provides a means to measure the profit obtained from an investment. I will discuss the area of return on investment from a training and staff development perspective and why it is important.
To Train or Not To Train
Companies and educational institutions at one time or another will face the question of whether training will help their company remain competitive. Training is very expensive and time consuming. The employee will miss time from work. Someone will have to fill in for the employee. The "fill-in" may not perform as well as the employee which results in lower productivity. Travel and site procurement add to the cost. The trainer will demand a salary and materials. A subject matter expert may possibly factor in the equation. Furthermore, the company usually will conduct a needs analysis to determine if training is the actual solution needed to increase profitability. All of these elements translate into time and money. However, research has discovered that a new medium of delivery has cut cost significantly. The medium is computer based training (Schriver 1999). The expense is reduced by travel, instructor hours, record handling, and productivity (Schriver 1999). Many businesses and educational institution are examining the possibility of computer based training. Many decision makers reason if the same results can be obtained at a cheaper rate, by all means implem...
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...emain in an organization or fall victim to cost cutting initiatives.
References:
Hansen, D. & M, Maryanne (1997). Management Accounting 4th Ed, South Western College Publishing Company..
Lachenmaier, L. & Moor, W. (August 1997). Using Business Performance to Evaluate Multimedia Training in Manufacturing. Performance Improvement, p. 16.
Schriver R. & Giles, S. (August 1999). Real ROI Numbers. Training and Development,p. 51.
Stolovitch, H. & M. Jean (October 1998). Calculating the Return on Investment in Training: A Critical Analysis and A Case Study. Performance Improvement Vol. 37 #8, 9-20.
Todnem, G. & Micheal W. (Summer 1993) Using ROI to Assess Staff Development Efforts. Journal of Staff Development Vol. 14, No. 3. p. 32
Wiens, E. (November 1997). Looking Ahead: How Will Technology Affect the Future. The Technology Teacher, p .21.
Jacob, James B. , and Jennifer Jones. “Keeping Firearms out of the Hands of the Dangerous Mentally Ill.” The Administrative and Regulatory Law News. 37.4 (2012): 11-20. Academic Search
[4] Colin Drury, Management and Costing Accounting, (7th edition), Chapter 3, Cost Assignment, p. 54-59
Romney, Marshal, and Paul Steinbart. Accounting Information Systmes. 10th ed. Upper Saddle River: Pearson Education, 2006. 193-195.
If you have ever been to Seaworld you would have had to go see the Killer whales in fact its one of the top attractions there. Through the eyes of a child, these gentle giants seem to be happy, healthy, and enjoying a playful game with their trainers. The question is are they really happy, do they get treated the right way, and why have there been deaths and injuries. Many people wonder about these things and after the movie Blackfish came out more and more people began to question how well Seaworld treats their animals. “The truth is that Sea World keeps its animals for entertainment and money and helps no one but themselves.”- Animal Legal Defense Fund
Milne, Alan Alexander. It’s Too Late Now: Autobiography of a Writer. Curtis Brown Group Ltd.
The War on Drugs has played a significant role in the mass incarceration seen today. The War on Drugs refers to heightened law enforcement activity and harsher punishments in order to eliminate illegal drug use. It started in the 1970’s when President Richard Nixon proclaimed that “public enemy number one in the United States is drug abuse,” and “to fight and defeat this enemy is necessary to wage a new, all-out offensive.” Since then the number of people admitted to prison for drug related crimes has risen about 1000 percent (politifact.com). “Most Americans can now agree that the war on drugs was not an effective approach to either addressing drug related crime, and that its policies worsened racial disparities in incarceration (Nellis).”
Investment in training will be able to improve Walmart’s financial position. Training can bring resolution to reduced performance issues by clarifying the particulars of the job. This will diminish doubling of efforts in the workplace, the period spent fixing slipups and the problem solving required to right bad performances. Enhanced performance from management training can lessen employee turnover, decrease repair expenses by reducing equipment failures and end in smaller amounts of customer grievances. Better performance from employees will naturally create little need for supervision and bring improved
Marshall, M.H., McManus, W.W., Viele, V.F. (2003). Accounting: What the Numbers Mean. 6th ed. New York: McGraw-Hill Companies.
Although an extremely successful playwright author, talented poem author, and a superb novelist in his early years of writing, A. A. Milne is known around the world because of his highly treasured children’s book series, Winnie-the-Pooh. Milne’s love for writing and words started at a young age, but he didn’t pursue this career path until after graduating from Cambridge with a degree in mathematics according to S. Ward (9). Milne was able to relate to the young readers of his children’s books, as well as give a sort of distinguished outlook with the parents and adult readers. Alan ventured far beyond children’s literature, unwilling to stay with one type of writing for too long of a period of time. Because Alan Alexander Milne attempted many contrasting types of work, he showed to be skillful in writing a wide variety of compositions.
Kaufman, Roger and Watkins, Ryan. "Cost-Consequence Analysis." Human Resource Development Quarterly, v7 n1 p87-100, Spr 1996.
13. Romano, P.L. "Trends in Management Accounting." Management Accounting, August 1990, pp. 53-56. 14.
Marshall, D. H., McManus, W. W, & Viele, D. (2002). Accounting: What the Numbers Mean. 5th ed. San Francisco: Irwin/McGraw-Hill.
Davoudi’s (2012) environmental management typology discusses eight distinct meanings of environment that are incorporated into the planning system of today. The new discourse that is involved with environmental management has meant that the environment is being seen in different ways. And as a result, the meanings attached to the environment have changed substantially over time (Davoudi, 2012). Davoudi (2012) discusses that environmental management is restricted by the limited definitions of the environment, and the onset of climate change and the discourse surrounding it has meant that perceptions of environment have been shaped (Davoudi, 2012). The first definition that is offered is local amenity, which explains that the environment has aesthetic and recreational values associated with it. The next is environment as heritage landscape, which sees the environment as he...
Training is an integral part of any organization’s development and is an ongoing process. Training programs will vary according to the position held within a company. “Training is a learning experience that seeks a relatively permanent change in individuals that will improve their ability to perform on the job” (DeCenzo & Robbins, 2007, p. 223, para. 1). Good organizations can be linked with the training and development of good employees. Any organization’s success in growth and innovation is dependent upon the talent, motivation, and leadership of its employees. Efforts made to recognize the value of each employee and the job he or she performs will contribute to a workplace environment that inspires, supports, and rewards employee development.
drugs to this day. One of the reasons the war on drugs is lasting so long is because of the cost; the war on drugs is a very expense war. In the past, the government has spent arou...