I will choose to open up an upscale casual restaurant. This is because they serve moderately-priced food that will be pocket friendly to both middle and high income earning individuals hence a larger client base. The casual-dining restaurant will offer a full table-serving menu that comprises of most traditional food such as sandwiches and hamburgers. A bar will also be part of the restaurant to offer alcohol to those who need it alongside the served food.
Walter and Pam present as a married couple between the ages of 51-60 and have been married between 31-40 years. Walter and Pam together have two children, live in a suburban area and were never previously married. Based on the positive couple agreement (PCA) Walter and Pam categorized as a conflicted couple. An article entitled How to Understand the Revised Individual and the Positive Couple Agreement (2002) explains the PCA as “The Positive Couple Agreement score is a percentage ranging from 0-100% based on the number of positive agreement items a couple agrees on in each of the content areas.”
This issue reflects a problem with Integrity and Ethical Values factor of the internal environment. Policy is important to and the foundation of an effective ethics program. Policy addresses a variety of behavioral issues, such as integrity and ethics, conflicts of interest, illegal or otherwise improper payments, and anticompetitive arrangements. So there is no problem on this factor.
Within this business report, I have analyzed three different employee compensation strategies that I feel could be well executed within our organization. Employee compensation is key to
This report examines 3 different compensation systems that our company can develop and enforce within our company for our employees. Compensation is the most important and rewarding factor for employees, so a thorough and thoughtful approach should be taken as we think about changing the way in which this company rewards it's employees for the work they do for us each and every day.
©2011 IAM IAM Level 2 Certificate in Principles of Business and Administration • Qualification handbook • 7
A well-articulated compensation philosophy drives organizational success by aligning pay and other rewards with business strategy. It provides the foundation for plan design and administration and anchors current and future plans to the company's culture and values (Kaplan, 2006, p.32). Recognizing and rewarding achievement is the cornerstone of the company A’s compensation philosophy. The mission of the company is to attract, select, place and promote all individuals based on their qualifications. The company believes that performance-based compensation helps attract, develop and retain talented professionals. In addition to base pay which based upon local market conditions and targeted to be above market, the company provides the following types of potential compensation to reward performance:
The organization trusts that workers will put more endeavors towards efficiency on the off chance that they see that their pay is corresponding to their endeavors. The idea of higher wages means higher benefits has empowered it to pick up an upper hand over its adversaries. Cases of money related and administrative bookkeeping that can apply to Costco Warehouse Corporation incorporate danger administration, presentation of basic rate as a strategy for execution examination, the utilization of rate for reward on wages, concentrate on innovative headways and preparing on client administration. Supervisors require distinctive sorts of data from financial specialists and loan specialists of an association since they are inside clients of bookkeeping data while speculators and banks are outside clients of bookkeeping
The integrity, track record and evidence of strong financial management by the customer will be considered here. Site visit and meeting with management will be important to clear any doubt. It is important for the graduates to understand that the bank must only give credit where it stands a chance of getting it back and therefore the need
This document is authorized for use only in Financial Management23 by Dr. Raj, at Institute of Management Technology - Dubai from January 2015 to July 2015.
Financial institutions are key component to a functioning society in today’s day and age. The economic cycle depends on financial institutions to conduct transactions for its worldwide clients. These transactions can be as small as withdrawing money or applying for a loan to start up a new business. The employees of every financial institutions are the key to successfully providing these services to their customers.
As mentioned above that the cost and the quality should be proportional to be fair with customers .Equality is the important element for compensation plan. If an employee is willing to do extra time, he/she should be compensated accordingly to maintain the moral of the employee high as employees expect to be rewarded for their ability and productivity. Therefore special care must be taken to remove differentiations.
Banks’ ability to promote growth and development depends on the extent to which financial transactions are conducted with trust and less risk. If the foundation on which a bank(s) are built lack institutional, government and above all public confidence, such a bank may collapse. So therefore, it is essential that every single bank must have an internal control system were the internal audit department makes sure that their accounting principles provide an effective means of recording and reporting monetary transactions, providing organisation information and securing the company’s asset from fraud and misappropriation (Achibong, 1993).