...Trident University Trident University Dr. Pavone Dr. Pavone Module 1, Case MGT 401 Module 1, Case MGT 401 08 Fall 08 Fall Trident University MGT 401 Module 1, Case Dr. Pavone Based on the background reading and my analysis of the leadership styles of Steve Jobs and Tim Cook I would definitely prefer reporting to Mr. Cook. The reason this is, is because I am a laid back person and have a personality more like Mr. Cook’s so that’s who I would prefer to report too. It just seems I would like Tim Cook’s personality more. He seems a lot more humble than Steve Jobs ever was. In one of the articles for the required readings for this module “Mapping a path out of Steve Jobs shadow” the article states the company is happier and even somewhat more transparent than it was during Job’s tenure. There are fewer frantic calls at midnight, and there’s less implicit pressure on engineers to cut short or cancel vacations in the heat of product development cycles. This alone, states the differences in how the work environment was run under Job’s reign versus Cook’s current time as CEO. The article further states that unlike Job’s, Tim Cook is the type of manager that would wait until the end of meetings so other can give him information to process. His leadership style is quite different both internally and externally. He’s much more open. They think he believes he doesn’t have all the answers so he’s willing to listen to other people. I’m not so sure this was the...
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...Abstract The intent of the paper is to examine current trends in the most commonly defined contribution retirement plan, the 401(k) plan. It will outline the best course of action to achieve an effective plan and maximize employee participation. This paper will review current mandates regulated by government agencies and explain the importance of remaining in compliance. Finally, the paper discusses best practices for implementation, as well as the best ways to promote a 401(k) plan within your organization. Throughout the process the details of the 401(k) plan at Tampa Bay & Company, a small sized organization, will be compared to other non-governmental company 401(k) plans to highlight specific examples and draw comparisons. Overall 401(k) Trends In response to the economic downturn there has been an increasing surge of employers who are lowering benefits associated with 401(k) plans. The most common trends are employers reducing the amount of match, reducing the portion of the match, or eliminating the match altogether. Over the past couple of years several surveys have been completed by investment firms, revealing that the number of employers who have decreased company contributions is on the rise. Some surveys show as low as a 7% decrease, but the majority of surveys claim that the amount is closer to 25% of employers who decreased matches or ceased employee contributions all together. Nearly two-thirds of employers still continue to provide matching contributions...
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...Retirement Plan and Communication Proposal Ebony Brown HRM/324 January 24, 2012 Jocelyn Freimark The design of a company’s benefits program is important to ensure the plans fit the structure of the company and the needs of its employees. Being a new company starting with 150 employees it will be important to design a varied and comprehensive retirement program that will not only address the needs of the company’s current employees, but will also attract potential employees, and be affordable for the company. Qualified plans “entitle employers and employees to substantial tax benefits” (Martocchio, 2009, p. 3), because neither has to pay taxes on contributions within a dollar limit outside of defined contribution plans. As an additional benefit, investment earnings are tax free and participants and their beneficiaries do not pay taxes on retirement benefits until the funds are received. There are two types of qualified retirement plans: defined benefit plan and defined compensation plan. A challenge of the defined benefit plan is that it may prove to be more costly for employers as employer contribution rates fluctuate yearly and requirements may be difficult for employers to ensure all the funds are available for participants or beneficiaries to receive. In this case, the best retirement benefit design option is the defined contribution plan. Under the defined contribution plans “employers and employees make annual contributions to separate...
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...Albatross Anchor Unit 6 Unit Six Written Assignment Ury Salinas MT435 Operations Management Introduction Question One Carefully review the assignment scenario/case study. From the limited information in the scenario/case study, along with your answers to the unit three written assignment, identify at least three direct and specific long-term and three direct and specific short term operations changes that Albatross Anchor must make to gain a clear and sustainable competitive advantage (provide detailed information to validate and support each recommended change) Long-Term Operational Changes (01) An improvement in technology can increase efficiency and effectiveness throughout the plant. It is obvious that technology changes at such a rapid rate, older technology can slow down or inhibit the manufacturing process, making it longer for the products to reach the consumer. A plan over the span of 3 to 5 years to update technology is realistic because it gives enough time for the updates to be made effectively. (02) The purchase of additional equipment can take away the need to share manufacturing equipment between the two different types of anchors. The new equipment should be top of the line, because this will not only fall in line with the upgrades to technology, but will be the most cost-effective. Time is what will be saved primarily, since the separate equipment will do away with the 36 hours that are needed during equipment change-overs between production...
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...CHAPTER 6 – RRSP & OTHER SAVINGS PLANS Why a limit? * Each individual is only entitled to save a specified amount in a registered retirement savings plan * Through pension adjustment (PA), those who participate in employer sponsored plan are limited in how much they can give to RRSP * Limit is based upon earned income in prior year * RRSP contribution limit is cumulative....any amounts not used can be carried forward; therefore, all Canadian taxpayers should try to accumulate contribution room as early as possible. How about investment income???? Is that the same???? Not quite.....why??? The income earned on investments is not “earned income” --- which can be broadly defined as income that was “actively earned”. This leads us to the review of the formula for RRSP contribution limit and the definition of “earned income”. RRSP Contribution Limit: * Start with: * Lesser of: * A) 18% of prior year’s earned income (see below) * B) 2013 money purchase limit * Less: pension adjustment for prior year (from Module #5) * Less/add: PSPA (module #5) * Add: unused RRSP contribution room (carryover of amounts earned but not contributed) * Can be made from January of THAT year to 60 days afte the beginning of next year - contriubtions made in the first 60 days of the year can be used for previous year or the year of contribution Earned Income - Defined: * Generally, excludes income that is earned...
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...As people go through their entire lives they expect themselves to be able to retire after working for at least thirty years. As a matter of fact, state pensions are enough for a number of people to satisfy their basic needs for lives. Obviously, most people would want to supplement of pension plan because they have to depend on the pensions after they retire. It goes without saying that how important for them to have a stable pension plan when they are still working. A lot of employers also believe that they should set up pension plans when they still work. Pension plans not only bring benefits to the employees but also contribute the complete the corporate system. A couple years ago, some plaintiffs began filing lawsuits against pension plans sponsored by religiously- affiliated non-profit hospitals, challenging their designation as ‘‘church plans’’ under the Employee Retirement Income Security Act of 19741 (ERISA). In order to protect employee’s rights and make sure employer offer pension plans to their employees, the employee retirement income protection act of 1974 (ERISA) was published years ago, and employees can usually avoid unexpected losses in their retirement plans. The federal government set laws to protect employee’s rights with pension plans. However, there are some special circum that church The pension plans have been a hot topic for recent decades and there are over thirty lawsuits filed all over the country and it involved billions of dollars. In the case...
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...Name: Yunjia Zhang Syms School of Business Tax 6145 Deferred Compensation and Employee Benefits Fall 2014 Midterm Fill-in 2 pts each 1. The qualification requirements are intended to prevent discrimination in favor of highly compensated employees, 2. The age and service requirements require that an eligible employee participates in the plan no later than the attainment of age____21______ and_____2 year(s) of service. 3. A contribution to a qualified retirement plan (“QRP”) is income tax deductible if it is made no later than __due of tax return(April 15th) OR 60 extension days___________. 4. Under the dual entry method of plan participation, a QRP’s entry dates are usually the first day of the first plan year beginning after the date on which the employee satisfied the Code section 410(a)(1) minimum age and service requirements ___________ and __ the date 6 months after the date on which the employee satisfied the minimum age and service requirements. ________________. 5. A plan that provides for individual accounts is called a __defined contribution plan__________________. 6. A plan to which annual contributions are discretionary by the employer is called a _profit sharing plan________. 7. A plan in which the fair market value of the plan’s assets may be either greater than or less than its benefit obligations is called a ________defined benefit PLAN_________________. 8. A “year of service” generally is a calendar year, plan year, or other...
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...Name of the Project: Highway 407 improvement Executive summary In 2013, following 3 years of program definition, research and planning, the province of Ontario’s ministry of transportation and infrastructure launched the project to improve the existing highway 407. This highway is the busiest route and convenient to access different parts of Toronto. The proposal of highway 407 was launched in 1959 and opened to the public in June 7 1997. 407 its one of the busiest highway, the total trips in 2010 was 114.691 Million. 407 ETR is the world’s first all-electronic toll road of its kind, and from the day it was opened up to the present day it continues to fulfill its mission of relieving traffic on local highways and roads. The goal of the project “Highway 407 improvement” includes reducing congestion and travel time; improve safety; expanding networks and transportation choice for high occupancy vehicles. Given the cost of the project and other provincial priorities, a key objective was to be self-financing, paid for through ERT system. The present value cost is estimated more than $5 billion, which is calculated over the period of 35 years. Key features of the project include extending the high occupancy vehicles lanes and commercial vehicle priority access. The project will also provide the reintroduction of the public transit to a corridor that has been too crowded to support reliable service for the past few years. The request of proposal was submitted on...
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...MGT 401 Week 5 Final Paper Incident Action Plan Click Link Below To Buy: http://hwcampus.com/shop/incident-action-plan/ Final Paper Scenario: As the newly appointed safety manager at a large plastics manufacturing company, you are called to the loading dock to find that a large truck, full of cartons of pellets used in the manufacturing process, is engulfed in flames. The truck slid on ice in the parking area and crashed into empty trailers. A call to the city emergency services indicated that they will be delayed indefinitely due to roads made impassible by the ice storm. The Material Safety Data Sheet (MSDS) for the pellets indicates that burning releases toxic smoke. Note that larger companies are likely to have their own emergency response teams equipped and trained to handle the most likely hazards found at the site. Assignment: Prepare an Incident Action Plan that includes all of the requirements shown below. Respond to each bullet point based on what you know of the situation. Clearly state any assumptions you make in your plan. The list is a subset of the United States Department of Health & Human Services’ suggested comprehensive Incident Action Plan available at www.phe.gov/Preparedness/planning/. • Identify at least two incident goals (i.e., where the response system should be at the end of response) and at least two operational objectives (i.e., major areas that must be addressed in the specified operational period to achieve the goals or control...
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...corporate tax deduction because employers are generally allowed to contribute more (and therefore tax deduct) than the alternative retirement plans. Business owners can write off these contributions as a business expense which is tax deductible, which will assist in Allen maximizing his corporate tax deduction. Defined benefit plans have no contribution limits, Allen and Nancy have a goal to secure a $61,241.90 after-tax serial payment by retirement. Other retirement plans such as the 401(k) have contribution limits that will not allow for Allen and Nancy to meet this future retirement goal. Defined benefit plans are truly ideal for small business owners who are behind in retirement savings and are nearing retirement. In the case of Allen who is currently 54 years old, the defined benefit plan is ideal because he is not restricted on how much he can contribute, so by the time he does reach the age of retirement, he will likely be able to reach his goal. Because of the maximums on plans such as 401(k) and Money Purchase plans, those alternatives would serve little use to someone like Allen looking to retire in less than a 20 year period. Allen currently has stable, predictable cash flows throughout his business. He will therefore be able to contribute a predetermined fixed amount each year into his retirement fund that will help prepare for his retirement in 11 years. The defined benefit plan is great in this situation because his steady cash flows will provide him with...
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...Compensation and Benefits Plan Based on the job analysis performed previously by Team B for the program manager position, the success of the new engine program would bring in a big jump in sales for the company. Thus, the program manager position is important to ensure a quality completion of the program. Keys to successful compensation and benefits plan are to provide fair compensation to attract and retain employees and to align with the company’s strategic goals. The proposal for the compensation and benefit plan for the program manager is competitively based on U.S. national averages in aerospace industry, company size, education, and experience. The base salary range is formulated by using the Formal Salary Structures (Culpepper and Associates, 2010). They are consistent with aerospace industry standards. The proposed base salary range is between 25% -75% companies offer in accordance to Salary.com. The plan includes benefits that are consistent with company budgeting plan and strategic plan. The compensation and benefit plan is as followings. Salary: The base salary shall be in the range $126, 396 - $154,343. The salary range shall reflect an employee’s work experience, education, and skills as a mid-level program manager. The range is corresponding to the company’s pay grade PM-9 to PM-12. Annually, management will review the employee’s overall individual performance and job responsibilities to make any salary adjustments as necessary. Benefits: All employees are...
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...Case #6 WORTHINGTON INDUSTRIES Case summary The Worthington steel company founded 1955, essentially invented the steel processing industry as it exist today. The company, head quartered in Columbus, Ohio, operated 53 plants in 11 country and boasted 7.500 employees. John H. McConnell founded the company in 1955. An established leader with more than 1.000 customers. Worthington steel served a broad range of markets, including automotive, lawn and garden, construction, hard were, furniture, and office equipment, electric control, leisure and recreation, appliances and farm implement. The company offered the widest range of services in the industry, from slitting and blanking to hydrogen annealing, hot dipped galvanizing and nickel plating. The founder developed a the company's values through Worthington industries' Philosophy as follows: Earnings Our golden rule People Customer Supplier Organization Communication Citizenship At the core ofof these values is the golden rule : treat others the way one wanted to be treated. The Administrative systems of Worthington company are considered under the following sections : values, organization structure, human resources polities and reward systems. Question Evaluate the management system at Worthington industries from the standpoint of how they help the company to outperform its competitors. ANALYSIS The Worthington steel company have four key success factors and have Worthington industries' Philosophy to...
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...Introduction Albatross Anchor is a small family owned business that has been in operation since 1976. The company has grown drastically over the years and now employs over 130 people. They specialize in bell and snag hook anchors and operate as a strictly wholesale organization both domestically and internationally. Their manufacturing facility consists of one building which includes manufacturing, shipping, receiving, raw materials, finished product storage, the foundry and administrative offices. Their manufacturing facility is antiquated, worn, and technology deprived and no longer meets the US safety and environmental standards. Question 1 Carefully review the assignment scenario/case study. From the limited information in the scenario/case study, identify at least three direct and specific long-term and three direct and specific short term operations changes that Albatross Anchor must make to gain a clear and sustainable competitive advantage (provide detailed information to validate and support each recommended change). Long-Term Operational Changes (01) The first long-term change that Albatross Anchor should make to gain a clear and sustainable competitive advantage is technology. Since Albatross Anchor was founded in 1976, they haven’t updated the ways that they manufacture anchors. Each type of anchor they produce uses different types of manufacturing styles and they need to be changed each time to accommodate a different anchor. The machinery is obsolete,...
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...Section 42 provides that each member stands in a fiduciary relationship to the corporation. The fiduciary duties of a member entail that a member: * must act honestly and in good faith towards the close corporation * must avoid any material conflict between his own interests and those of the corporation * may not derive unwarranted personal economic benefit from the corporation * may not compete with its business activities Where a member fails to give notice of the nature and extent of any personal interest in a contract, the contract will be voidable at the instance the close corporation becomes aware of the facts. If the corporation chooses not to be bound, the court may make an order that the contract will be binding on the parties. This happens when the court, on the application of any interested person, is of the opinion that in all the circumstances it is fair that the contract should be binding. A member who has breached his fiduciary duty is liable to the corporation for any loss suffered by the corporation as a result thereof or for any economic benefit derived by him as a result of the breach. Breaches may be ratified by the members provided they are fully aware of all the material facts. Fiduciary duties Members owe fiduciary duties to the close corporation. The Act gives an overview of the fiduciary duties and sets out to define some of them without prejudice to the generality of the expression "fiduciary relationship." Members must act honestly...
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...Chapter 1 INTRODUCTION 1.1: ORIGIN OF THE REPORT Being a BBA student of this university, we are all required to prepare a term paper for every course in each semester. For this course, our course instructor, Lecturer Ummya Salma had asked us to submit a term paper as per our will. After thoroughly analyzing all the topics, I have chosen the “Gainsharing Approaches” as my topic. 1.2: OBJECTIVE OF THE STUDY Gainsharing approaches are important elements of the incentive plan. The main objectives for this study include the following: 1. To analyze the impact of various gainsharing approaches 2. To explore the different types of gainsharing approaches 3. To explore the recommendations that can make the gainsharing approaches programs more effective 1.3: SCOPE OF THE STUDY The scope of the report outlines the various objectives of the report. The scope of this report is to understand how comprehensive gainsharing approaches have become and to understand the massive impact it has on employee performance. 1.4: METHODOLODY I have gathered the information from various sources. The major sources of information include the book on Human Resource Management by Keith Davis and William B.Werther also Human Resource Management by Gary Dessler. For further elaboration and clarification, I also took help for various websites. I have mainly used secondary sources of data which was collected through various books and websites. 1.5: LIMITATIONS OF THE STUDY Research...
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