Thus resulting in employees being unsatisfied with the management of the business which later could impact the businesses relationship with its stakeholder through the recession, however this strategy in the long run could result in employees not losing their jobs as BA are benchmarking their competition who significantly seceding in the recession without tarnishing its relationship with its employees. This could result in the business surviving and becoming less likely to end up like Woolworths and what happened to their employees. On the other hand, during a recession I believe BA would not damage its relationship with its stakeholders. A reason for which is customers, who can be seen as the most important stakeholder to any business would try to spend as less money as possible during a recession. So with this in mind the cost minimisation strategy employed by BA would mean that
If the company has low skilled employees than they will not be making the most out of their assets because there will be more wastage in production, this can result in an increase in the amount being able to provide to the public. If production levels fall then the company will make less money because they will not be able to see as much to the public as they could if they did have highly skilled workers. Therefore it is important to review the workforce plan constantly to understand when more highly skilled workers will be needed. External The fact that the current market has a global shortage of mining professionals does cause a problem to the company’s long term projects. This is because the company will need highly skilled workers to maximise production without a large range to choose from.
| Customers | Customers can stop buying products displaying the john Lewis logo, word of mouth means that john Lewis can be seriously damaged by customer shifts. They have a huge influence on the aims and objectives of john Lewis. However john Lewis may feel that it has sufficiently strong, brand loyalty to ignore customer input. | Employees | Employee can make john Lewis alter their aims and objectives to include staff needs and wants, john Lewis altered their company objectives to include the working conditions of its staff, however a set time when unemployment is high, employers are in a position of greater power as employment is harder to find. | Trade union | Unions mainly focus on the treatment and pay of the employees.
Ethics Paper MGT498 Ethics Paper One of the biggest things that big named organizations sometimes tend to forget is that when difficult decisions must be made, they affect everyone within that organization. Whether it be budget cuts leading to loss of hours or layoffs, lower stocks percentages for the shareholders or it can even change things positively, and require more production of hiring. Either way, when issues come up and things change, it is important to keep everyone involved well informed and made in the best interest of those directly affected. In the business world, corporations have a responsibility to the employees as well as the stakeholders to be ethical in their decision making by staying true to their beliefs and behavior to society. When unethical decisions are made, everyone involved in the corporation and its well being are affected in a negative way and will jeopardize the well being of the business.
Management also discussed the possibility of those employees who had no intention in learning the skills conducive to function in an EMR based facility. The team believed this could cause an increase in employee retirement, terminations, and a reduction in volunteer employees because of noncompliance. Even more than finance pressures of implementing the EMR system, management thought that the community impact and political influences would also be a huge presence that could hinder a successful change. Keeping local organizations informed throughout the process is important to preventing possible issues in this area. Change is always hard when it concerns a large undertaking like the EMR system, everyone gets involved.
However they would have notify customers of the use of the technology in their stores, as underage people may wish to avoid the stores which could lead to a decrease in sales from the stores who use the system. The storage of customer details may also provide opportunity for the company to benefit, as it may allow them to send customer advertisements or flyers, promoting their business and special offers analysis. The convenience of the technology is vast, but the initially costs as well as maintenance may be large, and to justify the use of the technology it would have to be ensured that it is worthwhile, depending on the size and revenue of the store. Also if the technology was not reliable it could lead to further large costs for the company and would be very inconvenient to employees and possibly customers, possibly leading to a decrease in sales
Without customers, there is no business and this will hurt this large company in the long-term. Not only is it right for the company to give more consideration to their employee’s desires but it will also contribute to the bottom line. Their customer will know the value of their company and employees will be more productive in what they do and proud of who they work for. Wal-Mart makes an average of $245 billion in revenues; therefore they have the resources to treat employees fairly. It is important for their corporation to take care of their workers and have a reputation of treating them fairly, which is important to the customers.
The loss of production and or customers due to failure to deliver the employees or products you sell is also an indirect cost that affects the business in a negative way. One indirect cost many of us do not think of is the effect on the companies morale and that can take a toll on others employees especially the ones who are taking the brunt of the work that the separated employee was performing. Turnover and the indirect cost can even include more frequent accidents and higher injuries due to the inexperience of newcomers. If you take all of the cost, the indirect and direct cost into consideration, you can start to see the full scope and calculate the cost of the
Economic Issues Simulation Paper Heather Pennington University of Phoenix Mark Williams HCS/440 Making financial and economic decisions for a business is never an easy task. It is a lot harder because employees have to know what is best for the business in order to profit from it and grow larger. There are three types of Castor plans which are Castor Standard, this covers any incidentals but will not cover any pre-existing health issues. Then there is Castor enhanced, this covers pre-existing health issues and then there is Castor enhanced minor which covers pre-existing health issues and coverage such as obesity, substance treatment, etc. can be excluded and this include mental health.
The fabrication phases and the assembly and test phase consist of their own procedures. Nowadays manufacturing process becomes more and more technologically diverse and intense. It results in a decrease in a direct labor percentage of total manufacturing cost. Management considered that an inaccuracy of GEI’s standard cost system caused a poor financial performance. The company need find a better cost system which could truly track costs and identify which of products were profitable and which were not.