3. Documentation: It is vital that all transactions have proper documentations. Your company’s current use of pre-numbered invoices is an appropriate measure for this internal control. Additionally, the purchase of an indelible ink machine for printing checks would provide another layer of protection. The use of such a machine would alleviate the risk of employees altering checks for personal gain.
Financial institutions such as banks deal with these types of issues on a daily basis because of constant cash flow. They must safeguard large amounts of consumer and customer data that are stored and maintained. A breach in this system could bring a bank to its knees. A company can’t manage these risks if they can’t see them (Business Wire 2008). So what attributes must a good risk management team possess to accurately assess
If without the planning of a budget, the company may easily over spending on the cost. In addition, it helps to understand whether the business is in a healthy finance position by comparing with the actual figures with the projected figures. (John Tennent page179) mentioned that for a business planning on budgeting is a process used by management to create the blueprint for achieving that success. Financial planning is the most fundamental task for a business to determining on it strategic goals, objectives and achievement. The Financial plan needs to include the timeframes as well in order to achieve the goal within the budget set.
In-depth discussion and comprehensive numerical analysis will show why this project is the better value. Emily Harris, Vice President of New Heritage dolls had to make a decision before presenting a new project for the company's budgeting meeting. Two proposals stood out based on their potential to strengthen the division’s innovative product lines and drive future growth. The first project involved expanding an existing “Match My Doll Clothing” line, which had a proven
Secondly, you need formal and informal agreements between the suppliers and customers as well. A good point is to always keep a company positive with whatever issues that may arise. By having an efficient DRP should have the same importance to the most important personnel in the company over all. This would include a detailed checklist of the tasks of every person that is responsible so that they are constantly prepared for anything. 2 Internal, external, and environmental risks Two disasters that a company needs to face are: the natural and man-made disaster situations.
In regards to either form of workspace it is the responsibility of the employee to ensure they are following the guidelines and requirements of what the organization they belong to has established. Laws and acts that have been set forth deem the appropriate paths that must be followed with any form of electronic surveillance. It is seen throughout this report that surveillance disclosed can prevent issues amongst employers and employees but the ultimate goal of protecting the interest of the organization allows in many cases for such surveillance to be conducted. Consent is required in one form of fashion and must be given to all parties of the surveillance from the employer in cases, to the employee all the way to the third-parties that are involved. Expectance of privacy in the workplace is determined by the levels of responsibilities and mission that the employee is set to fulfill by their respective employers.
For instance guidebooks or electronic records of resources and liabilities, income and expenses, profit and losses, Bank statements and any further relation of transactions associated with the business. Important records such as tickets, invoice, acknowledgments and other related documents issued or received from customers/suppliers schedules and accounting records should always be maintained and correct. Good records will allow you to supervise how your business is working from day to day, and take any action required to correct problems that become obvious. Moreover Records can protect workers and the agency particularly from later claims of negligence. If good records are not kept this will result in major problems for the business.
When Christmas is coming, people are going to decorate thier house to let it looks good and they can get good family relationship that they work together. They will buy beautiful decorations to decorate their house together. For example, they may buy the white spray to paint on their windows to look like snow or they can buy a Christmas tree or the flowers that have the good smell then put in their house and they will be happy with the result that they worked togethetr by their hands with their family. Furthermore, on Christmas day that family are gathering together they can celebrate together, having a party and taste the delicious dish. They’ll talk to each other and laugh together to shared the things that they’ve experiened.
The business store is called FunCake. It is a baking shop that customers come and make their own cakes for their Valentines. This business is available everyday for birthdays, anniversaries, or other special events. This business or service will have successful sales because of its uniqueness and difference than other regular bakery shops. There are many bakeries or cupcake shops, even in grocery stores, where customers can buy cakes or treats that are already made.
The main of hiring people worldwide is to diversify products and inputs. As any multinational company Microsoft had to face market problems for their products and its labour force. They had the necessity to attract customers to sell the products and they also had to retain their customers to be stable in the market. Following the same concept they had risk in losing their potential employees with high qualification. This created a complex environment in where the organization had a necessity to Attract, Retain, and Reward and motivate a special group of people with compensation given.