Factors for consideration a. law’s non-logical implications in interpretation what parties would’ve agreed to (ex. Haines: duration and scope of contract) - policy: at-will doctrine in employment: policy - would’ve agreed to terms had they anticipated situation - had in mind, but didn’t express it b. context - what is the objective of the contract? Is it ambiguous? Ex. Spaulding v. Morse (369): stop yearly payment to trust during time in armed services - enforce according to terms if unambiguous, consider context if terms are ambiguous - not only context at time of contract formation, but also what happened AFTER ⇨ changed circumstances - why look at context?
Both strategies failed, therefore it is necessary to analyze what were their mistakes. • Core Competencies: Trexel has the know-how to development of different product better than its competitors (lower production cost), so it is necessary to consider the cost savings of the different alternatives. • Competitive Advantage: Because of Trexel has the know-how to produce high-quality products at low production cost, they are better positioned that its competitors. Also Trexel have protected their intellectual property through patents, which allow maintaining a sustainable competitive advantage in the time. For these reasons, it is necessary to analyze the competitive advantage of the different options presented.
Why would directors be more efficient than shareholders at improving managerial performance and changing their incentives? Directors would be more effective at altering the performance of managers specifically because they have a position to more directly control the managers’ incentives. Shareholders can only periodically vote on large issues, which do not directly affect the individually efficient behavior for managers. Directors, on the other hand, can adopt policies that tie the managers’ compensation to their performance, or threaten them with loss of their jobs if they perform below a certain
Generally, exceptional or acceptable workforce quality is referring to how exceptional is the employees work and is their work behavior acceptable. Mueller, mentions in the text, “best and the brightest” which he is referring to the talent pool that the company is selecting from. The text also mentions that the acceptable strategy means the pursuit of a less high-powered workforce (31). Translated this means that they are not going to search for a highly educated person if production only requires those who are physically fit and capable of producing quality products quickly. Active or passive diversity is referring to the demographics of the area for which the labor is needed.
Total Rewards Question: Describe each of the top five (5) advantages of a total rewards approach. The success of an organizations workplace will depend on managing costs and growth to address its business needs. Total rewards can help meet the needs and wants of today’s employees, and at the same time refocuses an organizations rewards system away from just cash and stocks (WorldatWork, 2007). In organization, there are five advantages of having a total rewards approach which are increased flexibility, improved recruitment and retention, reduced labor costs and cost of turnover, heightened visibility in a tight labor market, and enhanced profitability (WorldatWork, 2007). A total rewards approach allows an organization to have the flexibility to remove itself from the one-size-fits-all mentality and offer employees a mixture of reward packages that meet the employee’s needs.
They can be effective tools to manage and develop employees. But how can performance reviews be objective when the work being performed is subjective? Some jobs are easier to measure – for example data entry, factory production, or sales representative. But other jobs are more difficult to objectively measure performance – psychologist, human resource practitioner, or President of the United States of America. The company I work for changed their performance evaluation standards recently and instead of being given a 1-5 performance ranking, we are now rated as either “perform” or “not perform”.
If a manager in a particular post, but no corresponding powers, so he is unable to carry out management work. Responsibility is a basic requirement for managers, while managers are delegated authority should be the fate of the respective organizations or bodies bear responsibility for the organization or the members of the group bears a corresponding obligation. Powers and responsibilities should be synchronized growth and decline, the greater the power, the more severe liability. In comparison, the nature of the responsibility, authority is only a means to make the responsibility, the responsibility is the real symbol of the managers is more than power. No matter what type of organization managers, regardless of what he was in management levels, all managers need to have some management skills, such as Technical skills, design skills, personal skills.
As discussed in the previous research, comparing with the extrinsic motivators, intrinsic motivators do have a more significant influence on increasing higher level employees’ work passion and company’s productivity. Therefore, avoiding using extrinsic rewards but the intrinsic ones becomes the most useful and primary managements for company to operate properly. In the study of “Effects of Extrinsic Financial Rewards on Intrinsic Motivation” conducted by Robert D. Pritchard, Kathleen M. Campbell, and Donald J. Campbell, it mainly talked about Deci’s hypothesis which explained how and why extrinsic financial rewards are not working well on higher level employees. In the investigation of employees’ motivation, Deci believes that financial rewards (like higher payments) depending on the work performance may have a negative effect on workers’ intrinsic motivation. In order to support his hypothesis, Deci did an experiment aiming to compare and find out the relationship between financial rewards and intrinsic motivation through participants’ task performance (Pritchard, P9).
The comparison of overhead costs for Polynesian Fantasy and Vanilla by the two costing methods is: Polynesian Fantasy Vanilla Old Costing method 5.6 5.4 New Costing method 9.06 4.65 Change (New-Old) 3.46 (0.75) There won’t be any change on total company profits. But it will be some differences on individual product between applying two methods. What should Will do The new method (Activity-Based Costing) attempts to provide a better model of the cost of producing products or providing services and delivering them to customers. It promises to depict costs more accurately through a deeper understanding both of the activities involved and the resources consumed by each of these activities. Will should use Activity-Based Costing.
However, Sekiguchi and Huber (2011) stated that evaluation based on PJ fit will be less importantly weighted in permanent contract-based job, i.e. in the long term. This is because as business environment changes, PJ fit at the time of hiring will not promise excellent long-term outcome. However, it is argued that if an individual understand accurately of the job requirements, he can better adjust to the job (Wanous, 1977). This may be due to self-motivation because he understands well the job and he will find ways to adjust to changing environment.