| | | A. | Specifies the resources needed to achieve the company goals | B. | Communicate's a company's goals to employees | C. | Evaluating managers to determine how their performance should be rewarded or punished | D. | Evaluating operations to provide information as to whether they should be changed or not | 5. | Budgets for Planning: Which is Profit Budget? | | | A.
Introduction All organizations have a compensation plan in which to satisfy the employee to generate productivity. Compensation plans need to be tied to an organization’s strategic mission and should take their direction from that mission (2009). They must support the general business strategy, for example, innovation, cost leadership (2009). The new compensation plan for my team with the embarkation of a new strategic plan of InterClean focus more on attracting and retaining productive and potential employees. Compensation will be determined considering the organization’s budget and most importantly the required performance and productivity to achieve organizational goals.
Financial Statements Paper ACC/280 YOUR NAME University of Phoenix INSTRUCTOR NAME DATE Financial Statements Paper Accounting provides an exceptional contribution to the success of any small or large company. More specifically, accounting assists company owners in their management decisions by providing valuable financial information. Financial accounting is regulated by rules and concepts recognized as “generally accepted accounting principles” (GAAP). The GAAP requires four financial statements which include: the balance sheet, income statement, statement of cash flow, and statement of owner's equity. In this paper, the purpose of accounting and the four financial statements and how they correlate with each other will be discussed.
These four basic financial statements are interrelated and consist of: income statement, retained earnings statement, balance sheet, and statement of cash flows. Accounting is an information system using three basics activities which are identify, record, and communicate economic events to interested users. Companies identify economic events relevant to its business. Financial activities are recorded systematically in a chronological order of events to provide history. Recording also will classify and summarize economic events.
Business research process RES / 351 Business research process Business research and the process of understanding the manager’s problem and its management dilemma. In business the managers first has to identify the problem his problem or dilemma, then the need to find solutions to fix or adapt these solutions so that the same problems won’t reoccur. A management dilemma triggers the need for the decision making process to began, these events cause managers to reconsider their purposes or objectives it also defines the problem for solution the manager then can develop strategies and tactics for the solutions they have identified. Research means it is conducted to reveal answers to specific questions related to action, performance, or
Once this has been clarified it is the manager’s job to guide his team to accomplish these goals. To make it easier for the manager the team’s tasks should be created using the “SMART” principle. They should be specific, measurable, achievable and realistic and time bound. Once the task has been clearly defined it is then easier for the manager to decide which leadership style to use in the given situation. For example if an important/urgent task needs to be completed in a short period of time the manager may decide to use a more direct authoritative style (autocratic or bureaucratic leadership).
The company must ensure that any new plan they develop must be established with these two critical success factors. * The physiological and psychological needs and desires of employees must be met and maintained to keep them motivated. CHOKA must therefore keep its employees needs and desires in mind when designing a reward system. * CHOKA enterprises must ensure that the new reward system is well communicated to the employees, mainly so they know which results are expected from them to receive the reward in the future. * The company should be able to identify the desired performance behaviors they are seeking that will reinforce the company’s goal and also the approach that would be taken