...company pay the empolyees by take care of them and their needs but since 1964 according from the observers the generation after that are not as as same as their parents because their already live richer and more modern than their parents beside that also the influence from the western ideas . the potential influence from this side is the company changed the pay scheme for the manager or the workers , before they give the bonuses base on seniority but since 2000 matsushita and company changed to see the performance method , it’s mean who give the best performance get the better and higher bonus and also the performance of the managers and the workes would be transparent by shown the ranking of the performance . at that time become the first step of revolution in human resource pratices since that time all companies use that method , the manager who gives the best performance earn more and get more bonus although they are still young . but after put that into the perfomance still many of employee under 1990 lack of experience and can’t adapt with the new system that make the perfomance become poor which cause Mathushita have to close 30 factories include 13.000 jobs and 1.000 management and sell huge amount of assets ....
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...Brief background and context: Junior salesperson ("Seth"), an assistant on the non-dollar derivative desk of FirstAmerica (“FA”), finds himself in a difficult situation and has to decide what course of action to take as relates to going along with misrepresenting material facts to a key client, Poseidon, in conjunction with their hedging of French Franks relating to the $700 million equivalent cost of the five year construction of a new cruise ship. Seth is a relatively new employee at FA and was recruited by one of his key managers, a salesperson named Linda. Linda is asking Seth to “play along” with her questionable sales tactics so as to make the trading desk at FA a huge profit and herself a very large $1 million bonus. Seth would earn a bonus of about 70% of his base salary. Seth is ethically conflicted, as he does not feel that Linda’s tactics are honest and perhaps even legal. Who are the key players involved: (i) “Seth” – the junior salesperson at FA (ii) Linda – a top salesperson on the FX desk at FA and Seth’s boss; recruited Seth in (iii) Roger – floor trader at FA (iv) Peter – Sales Manager for Derivatives at FA (v) CFO of Poseidon What are the main issues/allegations? (i) Is fraud being committed by any or all of the following: a. Sending the Telerate page that grosses up for withholding tax, but withholding tax does not apply to cross currency swaps b. Convincing the CFO of Poseidon that the deal needs to remain secret...
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...Instruments The new pay system at Alliston Instruments isn’t working because the production standards set in place for employees to earn bonuses based on individual output on some tasks are set too high and there is also no way to compare the per-hour production rate for each item or assembly operation from 2012 to the production rate of 2013 for employees to receive bonuses for each piece produced because detailed records were never kept. The new system also doesn’t favor supervisors because they make less money than some of the workers and it creates increasing conflict with employees, as they don’t care about the quality of the products the produce as long as the output meets minimum standards. The individual production bonus system could work if some changes are made to the system to make it better. One such way would be to keep detail records of the per-hour production rate for each item to be able to compare them to that of the following year so that the bonuses can be given out effectively. Another way would be to set a standard of quality that all employees can follow to make sure all items produced are done effectively and there is less waste of raw materials. The final way would be to give bonuses to the supervisors also for the amount of workers they supervise that surpasses the past years levels. I don’t believe that the individual performance pay is suitable for this company because it brings about conflict between the workers and the supervisors...
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...support high performance. As a result, Sysco compensation strategies are performance based. Driver and warehouse workers compensation at Sysco is primarily activity based. Their activity based performance is dependent upon each individual’s productivity level. The drivers for example have control over their route as if running their own business. A driver will have a number of elements that dictate the pay he or she will receive depending upon their route and pounds of products delivered to the customer. Also, as an added bonus, when a driver finishes their route early, they are free to leave for the day. This type of performance based pay extends throughout the entire company in various forms from the chairman of the company to the frontline workers. Executives and managers at Sysco receive pay based incentives in the form of bonuses and stock options. The greater their performance in regards to achieving company objectives, the greater bonus they will receive. Sysco uses a percentage program when evaluating the managers and executives for their bonuses and stock options. Having a job is always positive, but having a great paying job that actually rewards you for...
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...on improved company performance for increased productivity, increased customer satisfaction, lowers costs or better safety records” Martocchio, J. J. (2015). P86. For CircleWorks specifically, gain sharing implemented on multiple levels, beginning with teamwork bonuses. Having a strong team will not only increase productivity for CircleWorks but it will increase ideas coming from employees themselves. Since CircleWorks already has multiple teams that work well together, the teams will need to be mixed up. CircleWorks will select a few individuals from each team and integrating them with a team that may not work as well, forcing new teams to be created. Teams with the most productivity can be put into a raffle for a free group lunch or a bonus created by management. Increasing teamwork at CircleWorks will implement the leadership component of gain sharing, as teams will also be encouraged to discuss options for the company and bring them to management. Root III, Demand Media, G. N. (n.d.). The second component of gain sharing is employee involvement, which has already begun in the leadership component. In addition to creating teams and encouraging them to bring ideas to the team, team meetings will be held monthly to discuss options. “Regular staff meetings can serve to remind employees that there is more going on than their own issues and deadlines and may see opportunities for mutual support and collaboration, let alone obtain vital information from each other.” Workplaces...
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...Purpose: The purpose of this promotion is to drive increases in fourth quarter gaming volume and revenue. Brief Description of the Promotion: The $135,000 Holly Jolly Cash Holiday promotion is a cash and car drawing. This promotion has three (3) parts: 1. From December 15th – 17th between 3:00 p.m. and 8:00 p.m. guests playing slots will be drawn to win $500 up to $5,000. This portion of the promotion is a hot seat drawing and guests do not have to earn points to qualify (see “Internal Process Drawing a Winner | Slot Machine Hot Seats”). 2. From December 15th – 17th between 3:00 p.m. and 8:00 p.m. guests playing table games will be drawn to win $500 up to $5,000. This portion of the promotion is a random winner generator Hot Seat drawing and guests do not have to earn points to qualify (see “Internal Process Drawing a Winner | Table Games”). 3. On December 17th at 9:00 p.m. one guest will win a vehicle. This portion of the promotion is an earned entries drawing (see “Internal Process Earned Entries”). Hot Seat Drawings December 15th – December 17th • Snoqualmie Casino will host a hot seat promotion for slots and table games where players will draw an ornament from a tree to win $500 up to $5,000 (see “Prize Details” below). There will be a total of 120 winners; 40 each day. One (1) random winner will be selected at each drawing. • There is no point requirement to win this portion of the promotion. • There will be a total of 65 ornaments on the gameboard for guests to choose...
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...There are bonuses that are given to those who do not win their bets, these are called cash back bonuses. The beauty of these incentives is that they take some of the sting out of a lost wager. Each sports book website will calculate the cash back bonus differently, though there is some continuity between each platform. The average percentage of cash back given on a lost wager is 20%. However, other fees and costs are deducted from the total before that percentage is figured. To earn a cash back bonus, you will need to make a new deposit. The site will subtract the current and pending balance of your account, the accumulated winnings from all previous periods, and then the redemptions for the period from your new deposit amount. The remainder...
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..._____________________ Title: _____________________ Signing Bonus: _____________________ Relocation: _____________________ Stock Options: _____________________ Other Terms: _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ Signed, __________________________ __________________________________ Joe Tech, negotiator Leigh Bultema, negotiator Job/Salary Negotiation Issues ▪ Is salary negotiable? The salary conditions were a stumbling block for this particular exercise. With the knowledge of being the manager, I knew that I had other qualified individuals that could be offered the position. The scenario explained that RR already offered a high beginning salary for a new employee. I felt that someone fresh out of college did not warrant a higher salary. In general, I do believe that salary can usually be negotiated. For the majority of jobs (not retail, fast food, etc…), employers give a range of what the salary can be. For the federal government, salaries are usually locked in but you might be able to negotiate at what level you start. ▪ What other things are negotiable? If salary is locked in, there are always other options. For the exercise, we looked at offering relocation costs, a signing bonus, stock options and even starting dates. All these things...
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...Tuesday, September 9, 2014 Nucor Corp A! Subject - Structure/Ops! • Decentralized ! - Distance between MGMT and ops! • Communication between top mgmt and supervisors?! - Autonomy for plant mgr - operated as an independent business! • Employees tell mgrs about their bad decisions — where is top mgmt? (no input/guidance)! • Too many risks?! - HR - People like working there! • Large labour supply! • Performance based pay, fairness! • Grievance reviews! - GM, then HQ! - Does HQ need to get involved?! • Annual dinners with GMs, monthly crew meetings, employee surveys! - Discuss any employee problems! • No layoffs! - Reduced workweek instead! - Compensation! • 1. Production Incentive plan! - Bonuses for workgroups (25-40 workers) based on anticipated vs. actual production! - 80-150% of base wage - BIG! 1 Tuesday, September 9, 2014 - Late - Lose bonus for the day, Sick - Lose bonus for the week! • 4 forgiveness days per yr! • Too harsh? Maybe not considering strong labour pool! - Supervisors and maintenance included! • No bonus paid of equipment not operating on that shift! • 2. Department Manager Plan! - Annual bonus based on ROA for the plant! • Target of 25%! • Average 82% bonus in recent years! - High?! • 3. Non-Production/Department Mgr Plan! - Accountants, engineers, clerks, etc! - Bonus based primarily on ROA for their plant! - Could be over 25% of base salary! • 4. Senior Officers Incentive Plan! - inc. Plant General Mgrs! - Based on return on shareholders’...
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...MGMT 1001 Assignment 2 – Report – 30% of Final Mark Report Focus: Write a report reflecting on your experiences of the Everest group simulation exercise this semester with reference to concepts and theories encountered in this course. Executive Summary Everest, a virtual game designed by Harvard Business School and Forio Business Simulations, forces players to challenge problems that arise and conquer them as a team. After viewing a frightening video that portrays the mountain climbing experience, students are arranged in groups of five and assigned different roles with varying description and goals, ranging from ambitious athletes to preservative environmentalists. Confronting numerous challenges such as oxygen scarcity, unpredictable weather and volatile health conditions, teams progress up the mountain, with the ultimate goal of reaching the summit. The game is intelligent in its simplistic design – it gives different goals and information to each player. The physician has knowledge on numerous diseases, but is unable to use it if the marathoner fails to announce her critical health condition – a probable situation as the game encourages players to hide the information. In hindsight, our team was given two attempts to complete the simulation. The first simulation was conducted with little experience and understanding of group members and roles. Formation of conspiracies led to discomfort due to conflicting personal goals, limited resources,...
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...North Country Auto Contents 1 The Case 2 1.1 Content 2 1.1.1 Background 2 1.1.2 Problems 3 1.2 Lessons 4 1.3 Case Analysis 4 1.3.1 Profitability of a transaction 4 1.3.2 Trade-in loss 5 1.3.3 UCS loses 5 1.3.4 What advice do you have for the owners regarding the new NCA structure? 6 2 Other Frameworks 6 2.1 Control 6 2.1.1 Input 6 2.1.2 Process 6 2.1.3 Output 6 2.2 Profit Plan 7 2.2.1 Profit wheel 7 2.2.2 Cash wheel 7 2.2.3 ROE wheel 7 2.3 Measuring divisional performance 7 2.4 Balanced Scorecard 8 2.5 Transfer Prices 8 2.6 Incentive system 9 2.7 Control levers to manage risk 9 2.7.1 Operations risk 9 2.7.2 Asset impairment risk 9 2.7.3 Competitive risk 9 2.7.4 Franchise risk 9 2.8 Final framework 10 3 Exhibits 10 Overview: The link between control systems and strategy The link between control systems and organizational structure (spans, cost/profit centers) The choice of what to control The profit plan Strategic profitability analysis (SPA) Designing asset allocation systems Measuring divisional performance The Balanced Scorecard (BSC) Transfer prices (TP) – calculation of prices, which method was used? Incentive systems Control levers to manage risk PM&CS as control levers The Case Content Background Company information Centralized company Franchised dealer and authorized service center for Ford, Saab and Volkswagen The dealership was situated in an upstate New York town with a population of about 20.000 The company maintains...
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...A PROJECT REPORT ON MANAGEMENT INFORMATION SYSTEM AT PSL SUBMITTED TO PROF. HITENDRA LACHHWANI Acknowledgment We are greatly thankful to Prof. Hitendra Lachhwani for guiding us throughout our MIS project. His expertise is also of great help to our project. We are also thankful to Mr. & the staff of PSL ltd for their co-operation which was much more than our expectations & for their support which helped us in making our project. CONTENTS Contents Pg. no. Companys introduction Vission, Mission, Values Organisational structure Functions of different department Various Processess Decisions taken at each level & Information required for that Information tools Security system Introduction PSL Limited (PSL) is the largest manufacturer of high-grade large diameter Helical Submerged Arc Welded (HSAW) pipes in India, which was incorporated on 24th August 1987 as a Private Limited Company. PSL manufactures and supplies pipes certified to API (American Petroleum Institute) standards for oil, gas and water transmission as well as structural and piling applications for both onshore and offshore sector. With 12 pipe mills at multiple and strategically coast-based locations in Kandla, Chennai, Visakhapatnam, Ahmedabad, and Jaipur along with the recently commissioned Sharjah unit the company producing pipes, which accounts annual capacity of 1,175,000 MT per year. Other business segments that PSL...
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...for that performance (or the performance-reward relationship). If an employee works for an organization that rewards employees with salary increases or promotion based upon positive performance evaluations, the employee may feel justified in the additional effort he has exerted to receive the positive evaluation. However, if the organization only offers such rewards based upon employee tenure or to employees who pander to their boss’ egos, they may find their employees are not motivated to “go the extra mile.” * Valance: the value the individual places on the reward when considering his personal goals, needs, and values (or the rewards-personal goals relationship). One employee may be motivated by the possibility of receiving a small bonus for their performance while another may not value small bonuses has highly,...
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...statements provide information on executive compensation and are distributed ahead of shareholder meetings ○ There is a positive correlation between firm size and total CEO compensation ○ The higher the CEO total compensation, the larger the percentage of non-cash compensation (bonus) • The Goal of executive compensation • What is good performance? ○ Current circumstances, its goals and the execution of its strategies ○ Compensation should include short- and long-term plans ○ Long-term: achieving strategic goals (e.g. financial) ○ Compensation/performance should be benchmarked against peers • Building a compensation plan ○ Peer comparison is the beginning, but should not be the only determinant of CEO compensation ○ Gradual rise of CEO compensation is due to the matching with competitive compensation as soon as one competitor increases compensation • Compensation mix ○ Base salary Have average base salaries with at-risk copmensation when performance is superior ○ Fringe Benefits 30-50% of base salary Medical and life insurance premiums, retirement costs ○ Perquisites Clubs and expense accounts, Cars, airplans If used properly, there are valid explanations, however, abuse is not uncommon ○ Bonus for short-term performance Combination of individual performance (personal objectives) and corporate performance, very specific Objectives may include: bring new product to market by a specific deadline, successful acquisition of...
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...The second recommendation for Nordstrom is to redesign and improve the compensation system. In order to foster a higher level of intrinsic motivation, the problematic current compensation system needs to be redesigned to better boost extrinsic motivation as well as improving intrinsic motivation steps discussed in the previous management recommendation steps. First, Sales-per-hour (SPH) should be modified to Sales-per-week as incentive evaluation metric while keeping the same 40-hour per week normal schedule and paying bonus for extra hours. SPH is the key factor that caused Nordstrom employees to manipulate work hour report that ultimately leads Nordstrom to face the King County Superior Court lawsuit. By using Sales-per-week metric, employees will no longer focus on manipulating work hour report to gain higher SPH since everyone will have the same time frame - “1 week”, no matter how many actual hours one works. Thus, employees are motivated to report actual work hours instead of shorting work hours to achieve high SPH. This step will effectively reduce the pressure of employees on detailed time management and motivate them on sales productivity. In addition, it not only rewards the extra hours of work that employees deserve to keep them more engaged, but also prevents the similar salary lawsuit from happening in the future. Second, work shift should be equally assigned to each employee. By eliminating the link between SPH to work shift, each employee will have balanced amount...
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