A second reason that managers should not only be responsible for shareholders alone is because their goal may be to maximise sales. If consumers are aware that Greggs are willing to benefit the environment by using CSR then they may feel more inclined to purchase Greggs products (USP); this will inevitably result in larger profits and sometimes even greater brand loyalty; both important factors for companies. Moreover, this would benefit shareholders in the long-term. On the other hand, Greggs is a corporation and therefore CSR may not necessarily be important to them as it goes
4) Yes, Employee referrals are better. They are lost cost, high quality hires, and research has shown that individuals hired through referrals are less likely to leave, which will help in Tangle Woods retention rate. The result would be better employees who want to stay and work there and also better employees, because Tangle wood would be hiring them themselves and will better be able to see if they fit into the culture. 5) Another good bottom line metric would be experience. It doesn’t have to be specific to retail stores, just other jobs with customer service experience.
Cost savings can be computerized accounting programs reduce staff time doing accounts and reduce audit expenses as records are neat, up-to-date and accurate. This system allows them to record business transactions accurately and generate financial reports quickly for management review. However if Rumble carry less transactions this means they won’t need to have computerised accounting system because it is very expensive for them to use. In this case it is best for them to have manual accounting system because it is reliable, cheap and easy to use. They can easily do their transaction without problems.
Finally the benefit of personal savings is that you are in control of where your money goes and how it is spent. The disadvantage of personal savings is that it takes up saved money and time from the business when it could be used for other things. Finally there is also a temptation to spend the personal savings on unnecessary things which could not really benefit the business but also it could be used for selfish reasons such as personal items. Another disadvantage is that
It is important to remember that a loyal customer can be just as valuable than new one. This is because you do not have to spend as much time and money marketing to them because they already know what you offer them. And it goes beyond just having customers that are satisfied, you need to have customers that are loyal. Loyal customers tend to buy more and more importantly they talk more which means a whole load of free word of mouth advertising for your business or company. Therefore building a highly loyal customer base should be the foundation of your basic business strategy.
The cost of training a worker is also reduced as the worker does not have to be trained in every aspect of the company only what he is going to be doing. The immediate drawback to this however is that he will not be trained in the jobs of the other workers, and if he is not there to perform his duty no one else will be able to. For this reason, broad assignment while usually less efficient allows for flexibility in its workforce, which allows the company to pivot for loss in workforce of changes in tasks. Grouping the teams based on function allows for the teams to have higher team coordination and again increases the flexibility of the individual worker. Workers within the function become much more knowledgeable about the function because they work amongst many different products performing the same task in each.
The job of a salesperson ranges from order takers to order getters. Personal selling is the key to developing strong relationships because it is directed toward achieving mutually satisfying results between customer and seller, which will sustain and enhance future interactions this is very important because it is a lot cheaper to retain current customers than to attract new ones. However, “In a results-oriented environment, the foundation of many compensation systems, sales quotas can focus sellers and managers in a direction inconsistent with customer-oriented selling.”(“Evans”,
CAGR: Operating income, % Operating income (EBIT) measures a company's earning power from ongoing operations and it largely used by investor because it excludes the effects of different capital structures and tax rates used in different companies. EBIT is "capital structure neutral" and is therefore a more appropriate way of comparing the earnings of different companies than net income
To continue to encourage suggestions from employees and what would benefit them and the organization would be profit sharing. Profit sharing is incentive pay in which payments are percentages of the organizations profits and do not become part of the employee’s base salary. Profit sharing may encourage employees to think more like owners. However employees may not react positively and may have a lot of questions. To enlighten the employees the manager should let them know the benefits of profit sharing.
This will mean the population will have more money which will go into the economy, this will mean more income for improving infrastructure and services. Also as TNCs move to other countries, job opportunities increase which means that the quality of life will generally improve too. Another benefit would be that the status of an area would be raised; this may encourage investment by other big name Multi-Nationals and most importantly will improve the countries economy drastically as valuable export revenues will be earned. Most important, they will benefit from cultural exchange creating a cultural integration. LEDC countries do not benefit as much as MEDC countries do, for example, sometimes much of the employment is low paid, low skill, long hours, meaning that the countries do not develop economically or give the opportunity to develop their skills.