...people Step 2 Formulate your reward and compensation strategy Step 3 Determine your compensation values Step 4 Design your performance pay and indirect pay plans Step 5 Implement, manage, evaluate, and adapt the compensation system Each step is just one part of the total organizational system, each part must fit with and support the other parts. There are three variable patterns into which these parts can be arranged, each pattern represents one type of managerial strategy. Each managerial strategy then relies on a different reward and compensation strategy. The three different managerial strategies are as follows; * Classical- which assumes most employees are lazy and dislike work but can be convinced in order to satisfy their economic needs. * Human Relations- assumes employees dislike work but can be induced to work in order to satisfy their social needs. * High-involvement- assumes that work can be intrinsically motivating to employees if the organization is structured properly. Each of the three managerial strategies has different implications for how the reward and compensations should be designed. In the case of the Fit Stop, it is a close choice between human relations and high-involvement. However, I believe that a High-involvement managerial strategy would be the best choice to implement. This strategy makes a major effort to create jobs that are both interesting and challenging and provide employees with control over the planning and execution...
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...“The Fit Stop”, for your review. Using point form, write a brief description of the organization, its employees, and its challenges. What is the organization's domain? (10 points needed) Organization: * The Fit Stop is a new franchise opening in four months. * The Fit Stop will sell all types of training, fitness conditioning and exercise equipment to the general public * The Fit Stop plans to specialize beyond equipment to provide customers with personalized advice geared to customer’s specific training/conditioning needs * It will be starting out with stores in major cities in Ontario and in four western provinces – with plans of expanding to Quebec and the Atlantic provinces * Stores will be located in shopping malls, operating 7 days a week: 9am – 9pm weekdays, Saturdays: 9am – 6pm, and Sundays noon – 6pm. Employees: Employees will range from highly educated (degrees) to high school educated * total employees per store will be 11 to 15 fulltime employees * each store will employ physiotherapist and a person with a Bachelor’s Degree in Kinesiology. * each store will have a Manager with a Bachelor of Commerce Degree * each store will employ sales staff with a minimum high school diploma (8 to 12 per store) Challenges The Fit Stop knows that even though their competitors will sell their equipment at a lower price, none will have the range of equipment that they do and none will provide the personalized service like “The Fit Stop”...
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...The Fit Stop is a new firm that will be opening in the near future. The founder of the business is Susan Superfit. The company’s business objective is to sell all types of training, fitness, conditioning, and exercise equipment to the general public. The Fit Stop plans to specialize in this equipment and provide customers with personalized advice geared to customer needs. The owner, Susan suffered an injury while engaging in sports activities. She came up with the idea for this business during her recovery. She found that while there were plenty of business that sold fitness and conditioning equipment, they lacked in knowledge. They often gave poor advice on how to use the equipment and what was best to purchase based on customer needs. In order to provide high quality service, each Fit Stop will employ a physiotherapist( to provide advice on such problems as injuries or back pain), and a person with a bachelor’s degree in kinesiology( to provide advice on training for sports and other physical activities). The remainder of the staff in the store will consist of a manager, with a bachelor of commerce degree, and sales staff that will have at least high school diplomas. It is expected that 8-12 sales staff will be needed at each store. The stores will be located in shopping mall and will operate on a seven day a week basis. They will be open from 9:00-9:00 weekdays, 9:00-6:00 Saturdays and noon to 6:00 on Sundays. Susan believes that the key to her business success will be...
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...Type | Marketing Plan | Subject | Business | Level | Master | Number of pages/words | 3 pages / 825 words | Paper instructions Please write 3 pages more for this paper please add under the headings where information is missing and proof read/ add academic references as appropriate 1. Check this instructions from client: “Please see below the break down: Assessment Question:Marketing planWorking in your group and based on your business environment market research (Assignment 1) decide on a strategy for the segmentation of your selected target market/s as well as a positioning of the business in respect to previously identified SWOT analysis elements and competitors strengths and weaknesses. Following that, you will decide on a number of marketing activities (describe in details what these are) designed to launch (remember that this is a new business) and further promote your business. The budget available to you, for the chosen activities, is $60,000 and you will present these in a table format with clear indication of type, starting date, duration and cost for each of these (pricing of activities should be researched with real figures inserted in your table).The following sections are expected: Title page Executive summary Table of contents 1.Introduction 2.Description and location of the business (from Assignment 1) 3.Environmental analysis (micro and macro) 4.SWOT table followed by a SWOT analysis with key elements listed and explained 5.Market segmentation...
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...for the video you want to add. You can also type a keyword to search online for the video that best fits your document. To make your document look professionally produced, Word provides header, footer, cover page, and text box designs that complement each other. For example, you can add a matching cover page, header, and sidebar. Click Insert and then choose the elements you want from the different galleries. Themes and styles also help keep your document coordinated. When you click Design and choose a new Theme, the pictures, charts, and SmartArt graphics change to match your new theme. When you apply styles, your headings change to match the new theme. Save time in Word with new buttons that show up where you need them. To change the way a picture fits in your document, click it and a button for layout options appears next to it. When you work on a table, click where you want to add a row or a column, and then click the plus sign. Reading is easier, too, in the new Reading view. You can collapse parts of the document and focus on the text you want. If you need to stop reading before you reach the end, Word remembers where you left off - even on another device. Video provides a powerful way to help you prove your point. When you click Online Video, you can paste in the embed code for the video you want to add. You can also type a keyword to search online for the video that best fits your document. To make your document look professionally produced, Word provides header, footer,...
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...The Fit Stop Overview The Fit Stop is a new firm that will be opening in the near future. The founder of the business is Susan Superfit. The company’s business objective is to sell all types of training, fitness, conditioning, and exercise equipment to the general public. The Fit Stop plans to specialize in this equipment and provide customers with personalized advice geared to customer needs. The owner, Susan suffered an injury while engaging in sports activities. She came up with the idea for this business during her recovery. She found that while there were plenty of business that sold fitness and conditioning equipment, they lacked in knowledge. They often gave poor advice on how to use the equipment and what was best to purchase based on customer needs. In order to provide high quality service, each Fit Stop will employ a physiotherapist( to provide advice on such problems as injuries or back pain), and a person with a bachelor’s degree in kinesiology( to provide advice on training for sports and other physical activities). The remainder of the staff in the store will consist of a manager, with a bachelor of commerce degree, and sales staff that will have at least high school diplomas. It is expected that 8-12 sales staff will be needed at each store. The stores will be located in shopping mall and will operate on a seven day a week basis. They will be open from 9:00-9:00 weekdays, 9:00-6:00 Saturdays and noon to 6:00 on Sundays. Susan believes that the key to her business...
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...different streams and professions. Analysis- Question 1- From the data provided for this question, one can clearly see that Pantaloons is way ahead from the other two retail stores Shopper’s Stop and Westside for both visiting and buying purposes. By purchase- By visit- The data collected for this question further tells us that the Pantaloons stores at South City and Gariahat are the ones which equally have the maximum people visiting as well as buying from them. Question 2-From the data collected for this question, the following graph has been constructed. From this graph, we see that though 2 respondents claim to be visiting Shopper’s Stop more than once a week, there is 1 respondent who claims to never have visited at all. But for Pantaloons, though the frequency of visits of the respondents vary between twice a month to once in three months or less, at least none of the respondents claim to have never visited the store at all, which is the case with both Westside and Shopper’s Stop. Hence, we can conclude exposure of Pantaloon’s store is enough to raise curiosity amongst people and make them visit their stores at least once. Question 3-In this question, the respondents surveyed could recall 64 brands available in the Pantaloons stores compared to 33 of Shopper’s Stop and 15 of Westside. This...
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...trying to fit in. In the story Alvarez struggles to be an American. Her Hispanic culture becomes a problem with being part of the American society. Alvarez and her sisters try to make themselves fit it into the American society, instead of celebrating the differences of their culture and being proud of who they are. In the beginning of the story the author starts off by saying, “As young teenagers in our new country, my three sisters and I searched for clues on how to look as if we belonged here”(56). From the first sentence, it shows Alvarez is trying to change her appearance and the way she acts, in order for her to fit in. I do not identify with her strong need to change her appearance and the way she acts for her to fit in. I also come from a Hispanic culture and unlike her I have never tried to change to make me seem as if I belonged in the United States. I’ve been always proud of my culture and I have never tried to hide it. I have always tried to be myself and for me that has worked because I never have felt as if I don’t fit in. That does not mean I haven’t changed through the years of living in the United States, but not because I was trying to fit in. For example, since the first day I heard hip-hop music I haven’t stop listening to it. I haven’t stop listening to it not because most everyone in the United States like it but because I like it. One of the reasons people are not motivated to express and celebrate their differences, but simply try to fit in is because...
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...The Fit Stop is a new firm that will be opening in the near future. The founder of the business is Susan Superfit. The company’s business objective is to sell all types of training, fitness, conditioning, and exercise equipment to the general public. The Fit Stop plans to specialize in this equipment and provide customers with personalized advice geared to customer needs. The owner, Susan suffered an injury while engaging in sports activities. She came up with the idea for this business during her recovery. She found that while there were plenty of business that sold fitness and conditioning equipment, they lacked in knowledge. They often gave poor advice on how to use the equipment and what was best to purchase based on customer needs. In order to provide high quality service, each Fit Stop will employ a physiotherapist( to provide advice on such problems as injuries or back pain), and a person with a bachelor’s degree in kinesiology( to provide advice on training for sports and other physical activities). The remainder of the staff in the store will consist of a manager, with a bachelor of commerce degree, and sales staff that will have at least high school diplomas. It is expected that 8-12 sales staff will be needed at each store. The stores will be located in shopping mall and will operate on a seven day a week basis. They will be open from 9:00-9:00 weekdays, 9:00-6:00 Saturdays and noon to 6:00 on Sundays. Susan believes that the key to her business success will be highly...
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...| Introduction: Our team visited Shopper’s Stop, Rajouri Garden and narrowed our research to ethnic wear section. We observed a lady, who was in her late 30’s, accompanied by her daughter. We observed her for 40-45 minutes which helped us to understand her buying behaviour and also the factors that influenced her in making the decision for a particular product and brand in the ethnic wear section. Since we visited an MBO, we could observe the customer with ease and permission from store was also not a problem. Once she was over with her purchase and was making the payment we introduced ourselves to her and interviewed her on a few basic points and why did she choose Shopper’s Stop for making a purchase. This activity instilled in us the power of observation and helped us know various aspects that a customer keep’s in his/her mind while making a purchase decision. Buying Process: 1. Need Recognition- Observation- The lady was specifically looking for pastel colored suits (ethnic wear) with very light embroidery or design. Inference- Maybe she wore Indian formals to her office. She had a need to buy suits for her office wear purposes. 2. Information Search- Observation- Initially the lady specifically looked for brands like Biba and ‘W’. Inference- Maybe through her past shopping experience she wanted to but only these two brands. She was comfortable with the fit and style of these two brands and was quite satisfied with its...
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...Virtual Lab: Stopping Distance of a Car Question: How can we determine the deceleration rate of a virtual car? How does reaction time affect the stopping distance of a car? Go to this website: http://higheredbcs.wiley.com/legacy/college/halliday/0471320005/simulations6e/index.htm?newwindow=true and on the left side of the screen select “Stopping Distance of a Car” Introduction: In this virtual experiment, a yellow sports car is coming to a stop from some initial velocity. On the left of the screen below the car you see a position vs. time and velocity vs. time graph of the motion. On the right of the screen below the car you are given lots of information about the car’s motion: time, distance covered, speed, distance traveled before braking, distance traveled after braking, and total stopping distance. Follow the instructions for the lab and answer questions as you proceed. Instructions: 1. Load up the Java Lab from the website shown above. 2. On the left side of the screen select “Stopping Distance of a Car” 3. Before you start recording data for the lab, “play” around with the buttons at the bottom of the screen and see what they do. (Play, pause, reset, step back, step forward.) 4. When you feel comfortable, hit the “clear trace” button and go on to procedure 1. Procedure-Part 1 Reset/clear trace and have the initial speed is set at 80 km/hr, the reaction time is 0.10 s, and the coefficient of friction is equal to 1.00. Answer the...
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...that were categorized as the emo’s or the dorks and the wannabe’s? Two things can happen: First: They will think that they aren’t good enough and are not worthy of any attention at all. They will be insecure and will think lowly of themselves. They will either, stay the way they are and would not do anything to be better. They will be growing up with lots of insecurities and/or kill themselves. Second: They will try to fit in. They will change their way of living and be that someone, supposedly “a mean girl”, and try to live like them, with their ways, their looks, the way they walk, the way they talk and even the way they dress. They would not act as themselves anymore. Just to be part of a better social group. Sucks, yes? I have seen this for so many times, in movies, in life, in the news, everywhere. People tend to change themselves to become the person that they are not. They change themselves to be what their friends, schoolmates, teachers and other people surrounding them want them to be. They do it to fit in. But why would you want to fit in and try to be the person that you are not, just to please some people who could not...
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...Section I PURPOSE The purpose of this report is to outline and analyze current marketing strategies. This report will include a SWOT analysis, a market analysis, a company analysis, customer analysis and competitor analysis. The analyses will result in recommendations for a marketing plan to expand the company by increasing location size and customer base. FINDINGS Yelm Bootcamp and Personal Training has been in business since June 2011. The company was started by husband and wife team, Amy and Jamie Honey. Their current marketing plan includes a company webpage, various social media sites and the use of a referral platform. The owners currently do all marketing and advertising on their own and also maintain their company website. The company is very active on Facebook, Instagram and YouTube. These are the primary ways that they communicate with current clients and try to bring in new clients. Yelm Bootcamp is also active in the local community. They donate 30 day memberships to silent auctions throughout the year. The existing marketing budget is about $500 per month. Monthly memberships are $80-$110 a month, depending on discounts customers qualify for. Section II MARKET ANALYSIS Over 72 million Americans, or one third of the population of the United States, are considered clinically obese. This is why consumers continue to be interested in exercise to boost their fitness and health. Currently 41 million Americans are members of a health club. During the...
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...Liberman, an avid marathon runner and trainer decided to open his own business a one-stop shop selling running gears and equipments, after being retrenched from his office day job. He decided to venture into this business in particular because of his passion for running and being healthy and fit. There are no shops selling running gears and equipments in his town yet. Any avid or non avid runners who wishes to buy any running gears and equipments has to place their orders on online shops to pre-order their gears and it takes about 2 to 4 months tops for their order to arrive. They not only have to pay the price of the item they have just purchased but also the postage costs are borne by the customers. Being an avid runner himself, Liberman then opened up a shop selling running gears and equipments of various brands, known as Running-Man Shop. The selling prices of these running gears and equipments are set to be the same as the online shops which his customers usually visit. Liberman gloats that opening Running-Man Shop is better than having his customers making online purchases as they do not have to pay for postage costs and Running-Man Shop can cater to the market niche that has been ignored. His shop has become very popular among runners, and his one-stop shop selling running gears and equipments has been very busy since in first opens. Running-Man Shop has become the first one-stop shop famous for its good quality and various branded running gears and equipments. Running-Man...
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...GCSE DOUBLE AWARD SCIENCE INVESTIGATION Title: Investigating how concentration changes the rate of a chemical reaction | Name: Ryan Bradley | Class: 12A1 | What is the aim of this experiment? To investigate how concentration hydrochloric acid affects the rate of reaction between sodium thiosulphate and hydrochloric acid and water. P.6a: List all the factors that could have an effect on the results in this investigation? * Concentration * Temperature * Surface area * Catalyst * Colour of the X * Stirring the mixture * Water in the beaker from washing out beaker P.6a: P.8a: Explain in detail how each of the factors you named could affect the investigation? Surface Area: This would affect my investigation because if there was a bigger surface area this means the particles have more room to collide as they are more exposed to head on collisions Concentration: If I was to increase the concentrations of the hydrochloric acid by too much/ little this will make my results unreliable because the more hydrochloric acid the more successful collisions and this would increase the rate of reaction. Stirring the mixture: This would affect my investigation because if I was to stir the mixture it would speed up the reaction time as you are creating more collisions meaning the ‘x’ will disappear quicker. Temperature: If I was to increase the temperature this would affect my investigation because it would mean the particles would gain more energy and this would...
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