Thank you for researching, evaluating and holding consultations on business management processes that are crucial to the functioning, productiveness and success of Lewis Inc.
Lewis Inc has outdated business management guidelines, processes, services and tasks that do not comply with modern business demands. To successfully prevail in the business market Lewis Inc will have to complete research on and improve specific issues related to their business strategy, processes, environment and employment. In addition to this, the corporation needs to offer consumers lower prices for their merchandise and services by phasing out unnecessary services and tasks that do not fulfill their needs. Lewis Inc is also losing income when they hire supplementary
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These improvements will prevent the loss of business revenue and it will also help generate to fresh business revenue and opportunities for Lewis Inc. These business steps will help them advance their significant office management tasks and aims and it will also help the corporation remove unnecessary office management tasks and aims from their routine employment activities. These business actions will also help the company support their productivity and success in the business market by attracting new patronage from …show more content…
Corporations that keep track of current salary rates are more likely to hire qualified employees and receive competitive business revenue for employees that complete advanced business courses, coaching and tasks. These business facts help employees learn and progress in their employment position and it also influences successful corporate business outcomes. Eliminating unnecessary hiring’s helps corporations save extra business revenue and it also helps them increase employee’s compensation. When corporations create modern business recognition programs it encourages employees to work harder and it also makes them feel secure in their current employment positions. Furthermore, corporations that hire competent administrative employees are capable of meeting planned business that increases, their businesses reputation, productivity, sales and customer
With any company, you need strong vision and mission statements to help consumers better understand your business and where you intend on being in the future. After reading the case, I found many issues that management must address in order to sustain a profitable business. The first problem that needs to be addressed is the development of a vision and objectives. A business plan is needed and management must find answers to questions like:
Ebert Ronald J and Griffin Ricky W. (2011).Business Management.(8th edition). Business essentials, (pp.94-97), Boston [Mass]; London: Pearson.
To give a fair evaluation of Jones Inc. it is crucial to an investor to know what industry it belongs to and be able to evaluate more competitors. With that being said, Jones looks like an investment that investors might want watch for a year or so. While their financial position is not readily declining, there have been a few situations that may not be currently ideal for an investor. Looking through the main types of ratios, there are a few positives and concerns that need to be noted in the analysis of Jones Inc. For many ratios, including the quick ratio and current ratio, there has been a decline in 2014 alone. As an investor this would be a good sign to wait until another set of financial statements are available. While many of these
Mercer Human Resource Consulting. (Aug. 9, 2004.). Tackling the Challenge of Aligning Pay with Performance. Perspective. Retrieved October 14, 2006, from
Human Resources practices retention for the massive cost and time taken it has to replace and hire new employees. Hiring has such a high cost for the facts of ensuring all new employees meet the expectations and requirements for a business. Not only do new employees have to meet the company’s expectations but also pass employment tests, physical exams, and background checks (Nickels (290-346). They also consider consumers habits and help form solutions to meet the businesses and consumer’s needs to keep up the company up to date. (Alper (112-113). Human resource personnel also help companies evolve with new innovations. Human resources help establish future labor by helping the companies find employees that meet the new requirements. Human resources personnel also forecast future requirements for organizations that way they can ensure trained people will be on hand for the organizations (Nickels (290-346). “In the future, human resource management may become the firm’s most critical function, responsible for dealing with all aspects of a business’s most critical resource: people” (Nickels (290-346). Human resources not only has a future of importance, but its past shows its importance now. From being responsible for only one department to being in many and still predicted to grow to being in charge of many more
Loblaw Companies Limited manages several subsidiaries and many stores in Canada and The United States, as a result, the Board of Directors play a crucial role in overseeing the effective management of the company. The Board regularly reviews management’s strategic plans and monitor performance of management against approved objectives. The Board also manages Loblaw’s approach to corporate governance, and makes sure the Corporation accurately provides information to shareholders and the public. The Board makes sure the senior management engages in ethical and legal conduct and maintain a culture of integrity. The responsibilities of the Board include: Define shareholders expectations and monitor corporate performance, establish strategic goals, performance objective and operational policies, delegate management authority to the executive chairman, monitor financial disclosure, monitor enterprise risk management, oversee effective external communications, monitor corporate governance, and monitor corporate social responsibility, integrity, and ethics.
In 1997, Pierre DuBois & Associates Inc. published a set of organizational culture measurement and optimization scale (Organizational Culture Measurement and Optimization), including models for organizational analysis and organizational steps for cultural studies. Its model includes seven aspects:
Although Susan’s plan to “just do what her competitors are doing” (Nelson Education, 2013) may have not been the best approach to follow, it is in The Fit Stop’s best interest to match their compensation policy to those business’s similar to them. There is no need for The Fit Stop to lead with the best compensation options around, but lagging with the compensation could repel employees and could push them towards working for a competitor.
Managing a business can be very stressful especially being that most times one would be making decisions that could lift or drive their business straight into the ground. (Arensmeyer 3) One of the most important th...
Doering A., Barton B., Sprague K., Linderman K., Morgan L., & Thomas S. (2004) Business Practices. Retrieved from the Internet on 7/15/06 at: http://oregonstate.edu/~thomasse/BA352/practices/
... the company is grounded in history. The mailing system needs to be revamped to fit in with their new image and fully respond to the need of their customers. In order to do that, they will need to create room for innovation. To achieve that, they may reach out to new graduates to get new ideas. They may also need new marketing strategies and a supply chain that will adapt to each territory they wish to expand to but also be opened to work with native of those countries or people who understand the culture and are able to help personalize their products.
Following the recession in the early 1980's businesses turned toward performance based pay in an effort to increase profits and productivity (Appelbaum & Shapiro, 1992). A joint study conducted in the late 80's between the American Productivity Center and the American C...
Boone, L. E., & Kurtz, D. L. (2009). Contemporary Business (13 ed.). New York, NY: Wiley.
Organizations are working hard in today’s world of business, not only to remain competitive, but also to focus on stability and structure. Employees are the backbone of an organization. It is becoming more important to offer quality HRM programs to staff, in order to support the retention of trained and experienced staff. Employees have always been concerned with salary however, there is a new focus emerging that looks at compensation as a whole entity. Monetary wages are now just as important as other benefits such as paid time off, medical and dental offerings and retirement. This paper will discuss the importance of the total compensation program which includes many aspects, not just salary. Attention must be paid to equal pay, pay
This paper presents a case study regarding Omega Inc., which has a contract sales force for its products. The contractors are employed by independently operated franchised dealers and do not work directly for Omega. Recently, Omega provided a training program for the sales force designed to improve sales performance and the franchisees instituted a performance management system to measure goal accomplishment. There are six primary steps in a performance management system and this paper will review five of the six steps as each relates to the subsequent step.