c) Each of the candidates has some strengths and weaknesses they would bring to the job. What do you consider the major weaknesses of each candidate? Why? MKTG 420 Week 1 DQ 2 Sales Organization Refer to the Developing Your Competencies heading starting
Payroll plays a starring role in your business when you have employees you have to pay. If you’re relinquishing the payroll reins to an employee or hiring someone to take over payroll responsibilities, writing down the payroll procedures can shorten the learning curve. Writing payroll procedures also ensures the same outcome each time the payroll is processed—accurate and timely employee paychecks. Step 1 Describe how employees document and submit time. According to the U.S. Department of Labor, an employer can use any timekeeping system it wishes--be it a timesheet, computer time tracking system or something else.
These indicators go beyond financial statement figures, such as sales and net income, to include measures tailored to the client and its objectives. Such key performance indicators may include market share, sales per employee, unit sales growth, unique visitors to a Web site, same-store sales, sales by country, and sales per square foot for a retailer. ASSESS CLIENT BUSINESS RISK The risk that the client will fail to achieve its objectives related to (1) reliability of financial reporting, (2) effectiveness and efficiency of operations, and (3) compliance with laws and regulations PERFORM PRELIMINARY ANALYTICAL PROCEDURES a. Auditors perform preliminary analytical procedures to better understand the client’s business and to assess client business risk. One such procedure compares client ratios to industry or competitor benchmarks to provide an indication of the company’s performance.
As the nature and type of work changes within an organisation, so do the skills requirements. An organisation must measure the skills levels of its workforce in order to plan for the future - appraisals, awards, certificates etc Workforce profiles - This means that a manager can view and monitor the types of employee working for the business. They usually include details such as age, gender, ethnicity and availability. Knowing ages can help you plan for the future and also ensures that you fulfill any legislation requirements. Large gaps in ages can cause problems so this allows you to combat this.
Research competitors and industry trends to create new ideas and incentives. Compete with competitors – Price matching. With accurate information and efficient communication within the business will ensure business continuance despite possible problems. 4.0 Reports: Identify the types of reports you would be required to review regularly in order to monitor business performance, why is it important to create and use this report and who would the report be written for. 4.1: Performance Report: This report shows how well/poorly a business is doing based on a current revenue, and can identify performance areas that may need improvement.
For example Owner’s drawing was one of the main areas which bring a loss to the business, because the owner took money out of it every month, instead of investing or spend that amount of money in other areas in the business. Furniture was another issue which cause a negative balance for the business, as they spend a lot of money in one go, instead of going for a higher purchase or other financial plan which allows them to pay the furniture in
Business Research part 1 Vanessa Garry, LaTasha McClure, A'Seneque Davis, Tia Walker RES/351 March 29, 2013 Henry Griswold Business Research part 1 In this research paper we will be discussing one of the management dilemma issues that Wal-Mart has which is their employee turnover rate. Employee turnover is defined as: the ratio of the number of workers that had to be replaced in a given time period to the average number of workers. Some of the research questions that Wal-Mart management would need to get the answers to are: What can we do to solve employee turnover rate? One thing that the company could implement is and exit interview to get some feedback on the reasons that employees leave the company voluntarily as well as employees
Some of the problems this business is facing have caused problems with the revenue. The previous owners health started to fail them and sales/profits declined. The menu needs an update with food variety and expansion. The servers are in their late 60’s and have a habit of calling patrons “honey”. The one and only Chef intends on retirement after 25 plus years.
CalPERS vs. JC Penney Overview CalPERS investment program began on February 22, 2000 when they included JC Penney on their annual Focus List. CalPERS further exclaimed that due to declining sales and a deteriorating customer base they had lost confidence in Penney’s management. Subsequent to the release of their focus list JC Penney made numerous strategic decisions to revitalize and boost the value of the company. Penney forced their current CEO James Oesterreicher to retire. Next instead of promoting from within, they searched for new blood and hired former Barney’s CEO Allen Questrom.
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.