Credit crunch and recession are great examples of external factors influencing the business. If the people are suffering from recession, they will not have money to spend money and this is how it affects the businesses. The current instability in Iraq is a good example of what may happen to businesses. In business it’s very important to understand, monitor and adapt to the political environment, because it crucially affects every business. Some of the very important factors are: Government stability effects businesses in a great range by competing with businesses to lower their costs, transparency is another important factor where anything the business does is revealed to the government and the government know exactly what they are up to.
When the employees understand how the complete organization operates and relies on each and every department, they will be more willing to communicate and help other departments. One of the main fundamentals of The Great Game of Business is to create a team. Games should be played that build teams. That being said, the games played that create a winner and a loser should be avoided. Also, it does not matter how big or small the win is.
When put in situations that there are no direct orders given, an employee will try to behave the way the manger that they respect would. The downside to this type of power is that it takes time to build the respect and trust between employee and manager, and across different cultures this type of power may not translate. Expert power is power used to direct someone based on the knowledge the superior possesses. During tax time, employees (or even managers) will default to following orders from the accountant because the accountant will have greater knowledge about the financial matters. This type of power generally works well until the expert shares their knowledge, thus making the subordinate
Pricing, billing and collecting fees What CPA firms can do to run their businesses more efficiently and effectively. By Edward Mendlowitz, CPA/ABV/PFS/CFF CPA firms provide invaluable advice to business clients but often struggle to run their own businesses effectively, particularly in the areas of pricing, billing and collections. Failure to set appropriate fees, deliver bills in a timely fashion and collect payment promptly—or even in full—cuts into a firm’s profitability, hurting the business and the accountants in it. Remedying this situation requires CPA firms to make a conscious effort to ensure they get paid an appropriate price in a timely fashion. To best do this, CPA firms should secure the fee agreement upfront, when their value to the client is greatest, and make sure they deliver excellent work on, or ahead of, schedule.
The use of temporary workers helps the business to maintain staffing flexibility and reduces hiring costs. In my opinion, temporary workers are as important as regular employees and there should be laws assuring them access to the same or similar benefits. Even though it is often believed temporary employees do not want to devote their time and loyalty to any employer and that is why should not get basic benefits such as health insurance or retirement benefits, it seems to me that temporary workers play a significant role to businesses in terms of lowering costs and should not be left on their own without any laws and regulations protecting their privileges. same provisions, employees may be appointed to subsequent temporary appointments in different departments. Benefits for eligible temporary employees include the following: health and life insurance, sick and vacation leave, holiday pay, injury leave, civil leave, and military leave.
A few key points to follow when introducing a new associate or co-workers and following some simple business etiquette standards will help create a less hostile and productive work environment. For instance, eye contact is a simple but respectful start, shake their hand speak to them in a professional manner and with respect, do not ask personal questions; this might seem nosy or push them away. Also, under no circumstances should you invade personal space; this can make the work environment uncomfortable and could potentially make the new employee think less of the company’s values and your own. Another situation to contemplate would be how a new
Therefore, any organization should be taken care if hiring the consultants. Introducing the Balanced Scorecard for compensation only. Obviously, linking strategy to compensation is a powerful lever to gain the attention and commitment of individuals to strategy. Some companies, however, forget that they must translate the strategy into terms each of their employees can understand and use in their everyday activities a key component of implementation
Describe how professional values and ethics can influence career success: As previously defined professional ethics are a moral value one takes in the specialized knowledge of their business which can discern over time. Most business owners are generally in dispute with moral obligations and ethical conduct in the work place environment. For instance, some business owners may have clients that receive special benefits or items that they can sometimes bribe or use to their advantage. This is both ethically and morally wrong. Although it would appear wise to accept gifts or provide gifts to another company to earn their business you are in fact interfering with normal business practices and in most companies can be a reason for termination for such actions.
With compatibility in the workplace, companies must adopt their policies and protocol to meet the needs of the workers. Diversity is not just about hiring unqualified people, it is about business, and making sure the employees have the skills and ability to help the company to compete in today’s global workplace. Diversity training can not change a persons belief, it can however, increase awareness, grant knowledge and educate employees on how to accept the differences among coworkers. The main purpose for workplace diversity training is to help employees recognize the differences among coworkers, and how to become tolerant of these differences. When diversity training is successful, the employee’s motivation rises, and he or she will become more committed to the company and will most likely stay with the
This is because some people tend to lie about their background that a company like TESCO itself cannot detect that the applicants were laying. Other than that, background check under assessment center could help TESCO to ensure that the applicants do not have bad reputation when serving in the previous company. Assessment center was used by many companies including TESCO and their main competitor GIANT. Assessment center plays a big role in selecting employee because this method would help a company to evaluate workers either before selected or after working for the company. In order to ensure that the applicants were not lying about their background, so TESCO make a decision to do the second interview so that the interviewer can observe the applicants their selves.