If a new business opens and has one or both of these products in stock, we would likely lose potential customers. If they follow a similar marketing plan, we could lose our client referrals to a business with more diverse products. We’ve seen tremendous growth this year, going from taking a $4000 loss in the first year, to a $30,000 profit this year. These risks are most likely not detrimental to our business, but could prevent a profit decrease due to
It is also clear that employees are having difficulty with knowing what and when professional development activities are offered or required. The necessity for employees to be active in professional development, drives the necessity for this project. Allowing easier access to this information in a centralized location and allowing employees to interact, add events to their schedules, and receive alerts of events would solve this issue and would further allow for professional development to be in tune with our company's mission to have the greatest employees in the industry. The need, also, to allow employees to document information gained from professional development events is evident. This would, in a sense, produce a central knowledgebase for other employees to benefit from.
M2 – Assess the employability and personal skills in the recruitment and retention of a selected organisation: Recruitment: Employability and personal skills are very important when talking about recruiting staff at Asda. There are many reasons why this is important. Firstly, when applying for a job in Asda, the potential candidate has to be applying for a job that they have some experience in or have some knowledge of what the job entails, because if Asda were to employ this potential candidate what they may end up finding out the person doesn’t have the necessary experience to do the job that they have been employed for so Asda will have to decide whether or not to let the employee go or waste time sending them to places where they can get the experience and knowledge. What Asda will have to check is if they have the right qualifications for the job, this is necessary because Asda cant employ someone if they don’t have the basic GCSE’s such as Maths and English because if they did then they wouldn’t be good for the store’s image and respectability. What Asda will also be looking for from their potential candidate is to have a good understanding of all of the offers and prices that the company is promoting at the moment, because once again, if they weren’t to have this quality then if someone where to ask them in the shop what special offers they have got and the employee didn’t know then it wouldn’t look good for the company if they were employing staff who didn’t know and have the basic knowledge of the offers that they were promoting.
One of our major goals this year is to avoid expenses. That is why there is a 10 percent reduction in personnel and administration cost. In order for us to be effective cost must be avoided. Advertising was not chosen due to the cap put onto the publications/public information expenses. We cannot afford and will not be approved for extra advertising without research that proves that this advertising will increase revenues more than the cost.
There are reports that say the economy will grow over the next few years (2010), but there is a possibility that they could be wrong and that won’t happen. If the opposite happens and the economy hits a decline, this could really hurt the business of Keystone and many other companies for that matter. On that note, people will start looking to save money and if they can find the same product that this company offers for a cheaper price, they might just do that. The last red flag that I would see when deciding whether to select this client would be the fact that they have recently started extending credit to customers with less than perfect credit (2010). Although this could mean nothing, this could also be the beginning of a downward spiral of bad debt.
After reviewing the Tanglewood case, we have come up with some suggestions pertaining to staffing quantity as well as quality. Our suggestions are as follows: Acquire or Develop Talent Tanglewood has a very unique strategy encouraging all of its employees to be self-sufficient and voice their opinions when they have ideas for improving the company. We believe developing talent from within will go hand-in-hand with this strategy. By training existing employees to be managers, Tanglewood will be able to teach them a style of management that they feel is in line with the its mission and vision. The company’s investment into the employee will also act as a motivator for the employee.
Understanding How to Motivate to Improve Performance Motivation is an extremely important factor within a workplace. Motivation levels amongst staff can have a significant impact on an business and can be key to a business being a success or a failure. "Motivation is the art of getting people to do what you want them to do because they want to do it." Dwight D. Eisenhower In simple terms motivation is what causes us to act. Motivation is the process which begins, guides and sustains goal-orientated behaviours.
Managing Change Part II MGT/426 Managing Change At times organizations tend to take on their own culture and in doing so, they face different challenges and changes. For Citigroup to compete, stay financially fit, and adapt, the organizations has to change. Citigroup’s employees must understand how change can be beneficial to the organizational and to them as well. By implementing change will allow the organization grow, meet customers’ needs, challenge the employees to improve his or her skills. Change is imperative for Citigroup to remain relevant.
The first two steps serve to identify what I want to train and develop in the senior managers. The next step will be to divide the training into components that are easy to handle. 4. The training program should be aligned with organizational objectives so it is meaningful to the senior managers. According to Blanchard and Thacker (2007), this is necessary to show how important learning is for the success of the company as a whole.
Capping the annual earnings at $118,000 stops people that make more money from getting a tax break by the cap. If people that make less have to pay a percentage of their income to social security, then people who make more money should have to pay that percentage too. The argument to this source is that employers don't want to pay the extra taxes and people that make higher wages don't see return on their taxes paid, and that interest in social security would decline. I think that the nation in general would benefit from a national retirement plan, so paying that extra tax money should pay off in the end when we have a solid nation-wide retirement plan that everyone can count