(2006). Price Floors and Ceilings. In Handbook. Experimental Economics Center. Retrieved February 2017, from EconPort:…
The Leslie Fay Companies is a women’s apparel manufacturer headquartered in New York, but with its accounting offices located in Pennsylvania. The company performed business in a way that did not utilize modern computerized systems to track sales and growth, but in an old-fashioned way that yet, still let them perform well in their revenues and earnings. The major names in this case include the CEO of Leslie Fay Companies at the time of this case, John Pomerantz, Paul Polishan, who was appointed CFO and senior vice president of finance, Donald Kenia, company controller at the company’s accounting quarters, and lastly, the accounting firm that issued the company’s unqualified opinions, BDO Seidman. It is important to keep in mind that the time period of this case is set in the late 1980s and early 1990s where a major recession hit the apparel industry in the United States among many other industries.…
Rob Dander, project manager in the Operation Research Department (ORD) was charged with managing a large computer project for Antar’s new manufacturing process. Dander was assigned three assistants to help with this project, all with different experience levels. The team was to function as a high-performance product development team, however they lacked sufficient tools to do so. “The primary problems of poor communication and poor coordination of typical product development processes in organizations can be rectified by creating self-managing, cross-functional product development teams” (Griffin and Moorhead, 2014). Implementing an effective revamp of Antar’s manufacturing process with the installation of a robotics system lay in the findings of Dander’s team. “The ORD would run a full-scale simulation of the entire manufacturing process and determine the working requirements that would optimize production while lowering costs. A major concern of management was to establish a program that would occupy minimal computer time and which could easily adapt to changing parameters and inputs. A secondary objective was to use the simulation to train operators on how to manipulate the new computer monitors which automation would bring” (Seijts, 2006). Thus, it is clear that management had a large investment in the outcome of the project with the company’s need to stay competitive in the market by cutting manufacturing costs.…
Based on the information presented in the scenario/case study discuss Albatross Anchor’s competitiveness in relation to (please address all items in the below list and provide support for your conclusions):…
2) This question is a continuation on question 1). Suppose the demand for potatoes is Q =10,000/p. How many firms will this industry sustain in the long run?…
Computer Associates (CA) is involved in probably the most domineering market in American history, the…
GMCT had originally been targeted to begin service to subscribers on February 1, but it…
Running head: BUSINESS PROBLEM PROPOSAL Business Problem Proposal University of Phoenix Business Problem Proposal Wal-Mart is a worldwide retail company. In 2008, Wal-Mart operated 971 discount stores, 2,447 super centers, 132 neighborhood markets, and 591 Sam’s Clubs in the United States (MarketLine, 2008). The company is headquartered in Bentonville, Arkansas and employs about 2.1 million people worldwide. The business problem to be illustrated is the high employee turnover that Wal-Mart experiences. A look into why employee retention is so high and the associated costs of this high turnover will be explored. Illustrations will show Wal-Mart’s problem of high turnover in statistical terms and list a set of recommendations to reduce employee turnover. Dependent and independent variables will be illustrated, the null and alternative hypothesis and the theories to support these hypotheses will be evaluated, primary and secondary data sources will be defined, how samples were selected and produced will be reviewed and finally recommendations will be made for improvement. Problem Statement Wal-Mart has a current need to change their organizational culture in a manner that the change will lead to an increase in employee retention and productivity. Analysis of Importance of the Problem The current situation at Wal-Mart is low paying wages and high turnover rate. Inadequate pay can be a major factor driving and organization’s turnover rate. A high turnover rate can be very costly to any organization, as the organization is constantly spending funds to train new employees. The higher the turnover rate the more funds are spent on training a higher number of new employees each year. These are unnecessary costs that Wal-Mart can invest in other areas of the business. Independent and Dependent Variables: Supported Evidence Wal-Mart’s turnover rate is the dependent variable. The dependent variable is defined as “the variable that is being predicted or estimated”…
Assignment 1: 8600 - 310 – Understanding How to Motivate People in the work place…
Ben Gates graduated from college six years ago with a finance undergraduate degree. Since Graduation,…
Maria Sharapova became a Wimbledon champion at the age of 17. In addition to being a great personal milestone, this championship was also an important phase of tennis career for Sharapova and IMG from a marketing perspective. Her skills and personality, attractive looks, and unique personal story combined into a powerful brand. Her agent, Max Eisenbud, was responsible for handling and growing the brand. Eisenbud pondered how to best market the Sharapova brand while prioritizing the various offers available, keeping in mind her long term goals, and utilizing IMG’s global sales force.…
Straight Piecework: One of the oldest incentive plans is based on piecework. Under straight piecework, employees receive a certain rate for each unit produced. Their compensation is determined by the number of units they produce during a pay period. At Steelcase, an office furniture maker, employees can earn more than their base pay, often as much as 35 percent more, through piecework for each slab of metal they cut or chair they upholster. Under a differential piece rate, employees whose production exceeds the standard output receive a higher rate for all of their work than the rate paid to those who do not exceed the standard.…
Hertzberg F.(1987) One More Time: How do you Motivate Employees Harvard Business vol 46 issue 1 Review pp.53-62…
Age plays a huge part in Ben 's decision to get his MBA and to be able to become an investment banker he will need to start on his MBA as soon as possible. The longer Ben waits, the harder it will be for him to accomplish this goal. By completing his MBA at a young age, he will have the opportunity to potentially raise his income by 4% each year. Also, most businesses are not allowed to discriminate against an applicant 's age, but they do prefer to hire younger applicants over older applicants. The longer Ben waits, the less chance he will get the opportunity to become an investment banker, as well as increasing his income. Also, it might be harder for Ben to go to school at a later age, due to the fact that he has been out of school for so long and might have forgotten a lot of the information. Therefore, Ben 's age is a crucial deciding factor on why he should get his MBA.…
According to Bohlander & Snell (2007), in today’s competitive world, one word, flexibility, describes the design of individual incentive plans. (p.442) One of the oldest incentive plans is based on piecework (Bohlaander & Snell 2007). There are two type of piecework Straight piecework- this is like production work the incentive is based on the amount of unit produce. Differential piece rate this is according to production as well but their output is higher than the average workers are. Piecework advantage is that payments are based on the employee’s performances. Nevertheless, piecework has several disadvantages. Piecework might not affect employees particularly when employees consider that the exceeding typical performance will provoke disapproval between the associated coworkers. Furthermore, this plan does not apply for those situations "when quality is more important than quantity" (Bohlander, 2007, p. 443).…