Do we have bad debt or cash-flow problems? Could any of our weaknesses seriously threaten our business? Examples of CanGo’s threats are: lack of clear performance goals, ineffective employee evaluation, competition from other online companies and cash-flow problems. (http://www.mindtools.com/pages/article/newTMC_05.htm) After identification of each
As Sainsbury's have a hierarchical structure they are most likely to lose a lot of money because for the marketing and research and development departments to carry out their functions they would need funding from the finance department. For this information to get to the finance department a lot of time would have been wasted and also for the finance department to reply to them, all this would cost them a lot of money. Advantages of Sainsbury's is that the power they have would be successful for the business as when work is being done the communication of the workers together when given commands from the manager and having to work better for the manager to impress them in order for more work to be done and at a more well-organized rate then if there was no pressure from the manager. Disadvantages would be that the workers would start to get stressed from having to complete the workload at too fast a pace for them to work at all times that they will start to work less and dislike there job and some days may not want to work as they are stressed to do work which is too much for them to cope as they are trying too hard to impress, this could lead to employees wanting to quit their job. Advantages are that when having to complete work set out by the manager to the employees it can be done efficiently so that the manager will be able to assess the employee and they could get a promotion to a higher part of their job.
Certain problems in this case are having an outdated and no comprehensive inventory that causes their control system to reflect improper supply amounts. Another issue is the fact that all of their purchase orders need to be on a “rush basis”, an issue that is derived from their outdated inventory control system. Also, this company has no type of forecasting system that can aid them in their understanding of how large their purchases need to be. Some solutions to these problems would be adopting a forecasting group that can use previous sales data in order to draw best estimates regarding their future sales. This way the company can decrease the amount of shortages they undergo during production.
There are two main profit maximization methods used, and they are Marginal Cost-Marginal Revenue Method and Total Cost-Total Revenue Method. Profit maximization is a good thing for a company, but can be a bad thing for consumers if the company starts to use cheaper products or decides to raise prices. This is what some firms in the leisure industry will aim to do, for instance, Cinemas will hope to achieve the highest level of profits. Although most firms in the leisure industry aim to maximise profit, some firms have other main objectives, such as to maximise growth. Growth maximisation is where the firm’s main goal is to increase the size of the firm as much as possible.
An example of this could be social security benefits. These motivations help the company recruit top level employees and increase their overall productivity. But this can be a trade-off as these benefits and rewards can be costly. Takeaway 2 - Corporate Culture, Human Resources, and Ethics Zappos is a great example of a company that has created a lively atmosphere for their workers through their casual working environment. But another takeaway is that this type of culture is not compatible with many companies.
Owners put in their money to make a profit this is why it is important for them to track the sum of money they may have made in an accounting period. Usually a supervisor’s standing is related with the success of the company. When a business is making money the amount of money a manager makes will usually increase and they may also get a promotion. Income statements are also used to check the revenues and expenses of the company which allows managers to reduce their unnecessary expenses to make more profit. These income statements are also useful for outside users such as investors, creditors and the government.
This will assist the company in increasing their profits and it allows Brockley’s to invest more money if they need to. Budgets are important to any company, they help inform the business on whether or not they have enough money to raise the business and generate more profit. Budgets help businesses reach their goals and targets. Income increased to budget: A budget provides businesses with an outlook and structure for future plans. Income is an important area of budgeting, this because without income there is no money to work within.
Ehrenreich’s egotistical perceptions compromised her investigation, and failed to change my opinion on poverty and prosperity. Ehrenreich made an excellent point on how tough it is to endure all of the hidden cost with living expenses. She noted low-income workers have a tough time
In terms of consumerism, the good life is damaging to the environment, places too much emphasis on money, and it dwindles the importance of non-market values. According to Annie Leonard’s “The Story of Stuff”, our current materials economy is a commodity chain in which goods go from extraction, to production, to distribution, to consumption, and finally to disposal. The system sounds stable but it is actually in crisis. Anyone with a simple understanding of mathematics can tell you that you cannot run a linear system on a finite planet in the real world. In order for us, the consumers, to get all of our fancy products and up-to-date technologies, a process that we turn a blind eye to takes place.
It puts too much emphasis on over working ourselves because people need to do anything to increase their paychecks by even the slightest bit. This is logical because as the society grows and with such a larger population, inflation accures and the prices of goods go up as well. With this people try to have an achievement in life today to make more