A massive layoff by a business decreases the business’s expenses because they will have fewer employees on the payroll. The business will also have less production and may have less income as a result. A household is affected by a layoff because an entire income is lost. When a household loses an income, spending is decreased to compensate for that loss. Businesses also suffer when massive layoffs occur.
If other things change, then one cannot directly apply supply/demand analysis. Sometimes supply and demand are interconnected, making it impossible to hold other things constant (Colander, The Limitation of Supply/Demand Analysis, 2010). “In supply/demand analysis, you would look at the effect that fall would have on workers’ decisions to supply labor, and on business’s decision to hire workers. However, there are also other effects (Colander, The Limitation of Supply/Demand Analysis, 2010). “For instance, the fall in the wage lowers people’s income and thereby reduces demand.
E. Usually when operations get close to capacity limits, costs go up. Bottlenecks are more common, there may be congestion in the plant, and production could slow down. These costs need to be considered when setting a price for a special order that will move an organization out of its normal operating range (relevant range). In addition, managers need to think about whether the business will lose some customers because demand cannot be filled. ------------------------------------------------- 4.42 Make or Buy, Qualitative Factors - The Vernom Corporation A.
Week 8 Assignment Shannon Parks Marilyn Fitzpatrick BUS 409 May 27, 2012 1. Describe the differences between job analysis and job evaluation and how these practices help establish internally consistent job structures. Job analysis is a way for a company to gather, document and analyze different information so that the company can describe the different jobs that are within the company. A job analysis will tell the content of the job duties the requirement of the workers and what the conditions that the worker will be in. Job evaluation is what a company uses to recognize the differences in the relative worth between jobs and by using this it will help establish pay differentials.
ACC/291 Week 1 Discussion Questions 1. How are bad debts accounted for under the direct write-off method? What are the disadvantages of this method? The direct write-off method is when a company determines that an account is uncollectible and it charges the loss to the Bad Debts Expense. An example of this would be when a customer is not able to pay their bill because due to a downturn in the economy, money may be tight if they have been laid off from their jobs or faced with unexpected hospital bills.
Staffing Plan Latoya Glover MTG/431 April 2, 2010 Ben Morris Staffing Plan A staffing plan is a plan that allows the employer or employers to consider and pay attention to the staffing and the gaps. There are many reasons for the loss of employees or staff such as lack of employee engagement, the labor market changing, retirement, and wage inflation because of competition for key skills. In order to successfully run a business a demand forecast has to be considered. A company must consider how many positions is needed, how will competition affect turnover, how many will be retiring soon which will cause turnover, and what positions will become outdated. One will conduct a staffing plan for Red Lobster.
Examples include a situation where there is a perceived or potentially unfair difference in pay, work schedule, assignments, permission to telework, access to training and development, opportunities for travel, opportunity for promotion, etc. Note: If you are a manager and prefer to examine this from the perspective of a supervisor you may do so. 2. Analyze the situation using the knowledge gleaned
Thus resulting in employees being unsatisfied with the management of the business which later could impact the businesses relationship with its stakeholder through the recession, however this strategy in the long run could result in employees not losing their jobs as BA are benchmarking their competition who significantly seceding in the recession without tarnishing its relationship with its employees. This could result in the business surviving and becoming less likely to end up like Woolworths and what happened to their employees. On the other hand, during a recession I believe BA would not damage its relationship with its stakeholders. A reason for which is customers, who can be seen as the most important stakeholder to any business would try to spend as less money as possible during a recession. So with this in mind the cost minimisation strategy employed by BA would mean that
By observing productive and non-productive time a manager can reasses staffing on an hourly, weekly, quarterly, or annual basis, minimizing cost for the facility. With careful management projections can be made for the upcoming years budget. The mananger has a constant struggle to maintain adequate staffing without exceeding his/her staffing budget. (Davis, 2008) The goal should be more creativity and productivity from each employee, and less non-productivity, which amounts to paying employee for time when they are utilizing their time properly. If employees are doing more socializing with other employees and friends on Facebook than their job duties, it can make for much frustration for
Second, an inventory of the companies fixed cost needs to be developed to inventory these costs and make a determination as to which of these costs could be lowered or eliminated. • Consider lowering employee wages, reducing the number of employees, or removing and hiring new employees at a lower wage. • Evaluate production costs to determine if these can be lowered by substitution of products, lower the number of units produced per day, or explore modifying the product. Assess the circumstances in which the company should discontinue operations and how management should react when confronted with these circumstances. Provide a rationale with your responses.