Administration Scenarios Paper Available

Administration Scenarios Paper

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Administration Scenarios

The assignment is to read the following three scenarios. Using the concepts and skills learned in class, students will have to identify the strategy and methods to achieve the goal of the scenario. The course material and prior assessments will serve as building blocks to the final assessment. The Final Project is valued at 30 points

Content requirements: Your report should include the following:
•An Introduction that explains the purpose of the paper
•Your assessment of the assignment from the Commissioner
•A detailed description of your strategy and method(s) to achieve the assigned goals
•A “References” section, in which you cite the course instructional materials and other sources, using APA citation format

NOTE: Your report of each Assignment should be supported by a minimum of one (1) outside resource (not the course instructional materials) for a total of not less than three (3) outside resources for the Final Project.

Project Assignment

You are the Director of Programs for a large state correctional system. The Commissioner comes to you with three (3) projects. Each project has specific goals. Unfortunately, achievement of these goals cannot require an increase in the systems’ administrative or operational budget. Specifically precluded are any increases in staffing or allotment for new equipment.

Assignment 1

With few exceptions, every inmate in the system is destined to return to the community. Successful transition from institutional life to community-based supervision is dependent upon the pre-reentry program the inmate will complete prior to parole. The goal is to develop a detailed outline of the instructional curriculum for inmates eligible for the transition and reentry program and a plan to coordinate the training of staff members, both inside the institutions and in the Division of Parole.

Assignment 2

The life blood of every correctional system is its budget. In order to plan for future budget needs, the Commissioner must be able to project future priorities for the correctional systems over the next decade. As Program Director your assigned goal is to identify the emerging and driving forces over the next ten years that the system will need to manage in order to continue to be effective? This projection must include what priorities will need to be set, and what changes will need to be made in staffing, technology, training, and management and supervision to meet these new challenges.

Assignment 3

Within the Commissioner’s correctional system a large medium security prison is nearing completion. This institution will house 1,000 male inmates transferred in from around the state. The transferees have already been identified. All are convicted felons and their projected average length of institutional incarceration is approximately 37 months. As the Programs Director your goal is to identify which traditional correctional programs should be replicated in the new institution as well as any new programs to meet the needs of these offenders. Describe each program, the eligibility criteria for inmates (if any), and the intended outcomes.

SAMPLE ANSWER

Administration Scenario

Assignment 1

The reentry curriculum will involve: ensuring immediate access to shelter, clothing and food, providing ex-offenders with access to faith-based mentoring and support, helping them to acquire personal identification card and driver’s license, access to dental and/or medical care, provision of mental health services and substance abuse treatment, and helping them to develop career-wise and to acquire vocational training. All staff members will be trained on these aspects in order to ensure effective supervision of the ex-offenders (Porporino, 2010).

Assignment 2

Despite the fact that corrections consist of their own special requirements, there is need to improve information-sharing, social media monitoring, staff training, and automated translation tools. This will help to ensure effectiveness of the institutions for the next 10 years. The policymakers also need to change the practices and policies of the institutions in order to establish and develop incentives as well as other mechanisms for shaping behavior. There is also need for research and analysis in order to develop new knowledge for guiding practice in regards to improvement of working groups and acquisition of technologies that have the ability of addressing the complexities of institutional and community settings.

Assignment 3

The decision as to whether an offender should be allowed parole is made by the court. Offenders who qualify to be released on parole get automatic attention of the Parole Board and receive consideration at the right time (Alabama Dept of Corrections). The Board is notified of the inmate through a community corrections officer who presents it with a parole assessment report. When inmates are brought to the correctional institutional, correctional specialists employ various tools for purposes of assessing each inmate. This helps to ensure that every inmate is placed in the right program at the right time.

References

Alabama Dept of Corrections. Re-Entry and Pre-Release Program. Retrieved from: http://www.doc.state.al.us/ReEntryInfo.aspx

Porporino, F. J. (2010). Bringing sense and sensitivity to corrections: From programmes to ‘fix’offenders to services to support desistance. What else works? Creative work with offenders, 61-85.

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Case analysis Research Paper Available

Case analysis Research

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email with instructions has been sent.

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Case Analysis

Laws and regulations are essential components of the business environment. The tools see to it that all parties in business interaction receive what they deserve. The business environment also requires the law when solving conflicts that arise between parties. Laws vary in their functionality, with some aiming at protecting consumers, and others pursuing the maintenance of fair trading systems. The Consumer Protection Act, for instance, minimizes the occurrence of consumer complaints by stating the guidelines that business operators should follow (Ministry of Government and Consumer Services, 2015).

Facts

The plaintiff challenged the defendant’s mandate of expanding Medicaid insurance coverage (National Federation of Independent Businesses vs. Secretary of Health and Human Services, 2012). Medicaid program was an initiative of the federal government that aimed at offering health insurance to the citizens. Later, the government developed the Affordable Care Act to offer a broader coverage than the Medicaid. People who failed to comply with the new plan had to make shared payments as a responsibility. The Act stated that non-compliant parties would pay a tax of five thousand dollars as a penalty.

The plaintiff disagreed with the defendant on the description of the payment that the non-compliant parties paid. The plaintiff felt that the “penalty” nature of the payment could present a collision between the new policy and the Anti-Injunction Act. The plaintiff also argued that the payment that the defendant charged the non-compliant parties was exaggerated, and could leave no other alternatives for the parties, but to buy the policy.

The Supreme Court ruled in favor of the defendant stating that the government had the right to impose the tax on parties who failed to comply with the plan. The court also ruled that the tax that the government charged non-compliant parties was within a reasonable amount and its collection was lawful. However, the court warned that the collection of the revenue had to satisfy the requirements of the Direct Tax Clause. The jury also made it apparent that the Anti-Injunction Act did not hinder the plan from taking its course.

An Evaluation of Concepts

Various factors influence decision-making on judgments concerning business issues. When making decisions, judges rely on their past experiences, logic, statutory laws, as well as the constitution. It is through logical reasoning that judges assess the importance of opposing decisions. Settling on a particular answer when making decisions on business matters also involves aspects such as in-depth evaluations.

There were a several dissenting opinions that presented in the determination of the case. Three of the nine judges found the expanded form of Medicaid, the ACA, to be out of the constitutional boundaries. The three felt that states faced an unconstitutional threat if they failed to comply with the plan. Also, the jury had different opinions regarding the role of the Congress in regulating the implementation of the new scheme.

The ruling of the court on the issue was reasonable and justifiable. Though the questionable plan commanded rather than requested parties to enroll in it, the move was necessary for ensuring that people exploited the chance hence making it easier to coordinate insurance care. Again, the plan did not violate the provisions of the Consumer Clause as it aimed at promoting the well-being of its subjects. The court also made a reasonable decision by requiring the Congress not to pressure the states to implement the plan. Such an action by the Congress could amount to the violation of the federal provisions.

References

Ministry of Government and Consumer Services. (2015, April 9). Queen’s Printer for Ontario. Retrieved from http://www.sse.gov.on.ca/mcs/en/Pages/business_guide.aspx

National Federation of Independent Business vs. Secretary of Health and Human Services. (2012). Retrieved from http://caselaw.findlaw.com/us-supreme-court/11-393.html

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Walmart Research Proposal and Annotated Bibliography

Walmart

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Dear Admin,

Please read the Research Proposal and the Annotated Outline Example in the attached files then prepare an annotated outline of the Final Project indicating the general idea of each section in the report along with a list of references studied and the concepts and techniques applied from your studies. Please follow the exact instruction in the Annotated Outline Example.

Note: Use WALMART as a company

Also,

1) The answer must raise appropriate critical questions.

2) Do include all your references, as per the Harvard Referencing System,

3) Please don’t use Wikipedia web site.

4) I need examples from peer reviewed articles or researches.

5) Turnitin.com copy percentage must be 10% or less.

Note: To prepare for this essay please read the required articles that is attached or sent by email.

Appreciate each single moment you spend in writing my paper

Best regards

SAMPLE ANSWER

Walmart

Introduction

IV). Walmart is an American corporation that is based in New York and has over 8000 branches across the US and neighboring countries. Walmart is a retailing multinational corporation that hosts over hundred million shoppers every week and has over two million employees worldwide. The success of the company can be largely attributed to its successful implementation of performance management system that makes it possible to manage such a huge number of employees effectively (Bhave & Brutus, 2011). Performance management system has made it possible for Walmart to adopt competitive strategies that has propelled its performance to the highest standards possible. However, the company’s competitive strategy has not been aligned with its performance management systems (PMS). These means that the company’s competitive strategy is also not connected to the Human Resource core functions of staff motivation, training, development and compensation strategies. To maximize its potential, Walmart must improve its performance management strategies (Pulakos & O’Leary, 2010). The company must exploit all the opportunities that come along with organized and effective performance management systems (PMS).

I). Walmart needs to create an inter-link between the various components of performance management with employee goals together with the organizations strategies. The application of PMS depends on the purpose and objective of the company strategies. Performance management systems that have been designed to enhance decision making purposes and also for relative employee development utilizes the information retrieved from the PMS feedback systems as a basis for promotions, pay increases, transfers, reduction or even terminations on inefficiency grounds. While if the PMS is purely meant for employee training, mentoring and skill development activities then the appraisal information will be utilized only for that purpose. The role of the human resource department in creation of value cannot be ignored and the only way to gain competitive advantage is by linking its core functions to compensation and development of employees. The resource-based view provides adequate theoretical foundation that links human resource management together with performance. Resource-based view (RBV) contributes massively to the development of human and social capital in an organization (Guest, 2011). Walmart may achieve a higher competitive advantage if it incorporates the RBV in its systems as its employee compensation package form a large part of its total revenue expenditure. The major advantage of incorporating RBV models in performance management is that they include most of the factors that are generally associated with success like leadership, technical and interpersonal skills. Competency levels besides communicating the important issues in an organization, they also provide the basis for developing human resource systems by integrating performance management functions with the key HR functions like staffing, promotion, training and succession planning.

III). The efficiency of performance management systems can be evaluated by its effectiveness especially in communicating the competency levels required from different departments and the employee behaviors in those departments. The other measure is the application of Line of Sight (LOF) (Buller & McEvoy, 2012).

Walmart can apply competency models as a way of measuring performance management. Competency models practically articulate the skills, knowledge, characteristics and other abilities that are instrumental in assisting the organization in its effort to achieve its goals. Job analysis techniques can also be applied in performance measurement. Job observations, surveys and interviews can be applied in identifying the key competencies that may define the measurement units which are associated with critical work behaviors or tasks in organizations (Broadbent & Laughlin, 2009, pg. 285).

II). The mission, vision and values of the organization should be aligned with the company’s strategy. The performance management system should also be modeled along the same principles that reflect the object and mission of the organization (Ferreira & Otley, 2009). The decision to go global may affect a company’s performance management strategies especially if the organization is unprepared. The challenges and the competitive nature of international business require a high level of organization and competent performance management systems.

Performance management has always been treated with suspicion and fear among the managers and the employees alike. To employees, performance management brings into the organization a yardstick that can be used to judge or rate the performance of employees. Hence it creates a frightening experience for some employees who are lazy and incompetent. Managers regard performance management as a tool that can destroy the trust that the employees have placed in them and the processes may damage their existing relationship (Jirjahn & Poutsma, 2013).

The relationship or link that performance management has with strategic planning is the link between the PMS and the company’s strategic plan than synchronizes the needs of individual employees and the company’s goals and objectives (Pulakos, 2010). Performance appraisals form the basis of employee training and compensation. These processes are implemented through training competencies known as raters. But according to Kaplan and Norton (2004) the last and the most important high-level strategy is the daily schedule of operations that occur after linking individual employee reward programs to the BSC. Walmart would be able to motivate and also monitor the progress and performance of its entire workforce. Performance Related Pay (PRP) works effectively where system evaluations provide valuable feedback to the HR department for revaluation and implementation (Kumari & Malhotra, 2012).

V). Finally, the major processes are fivefold; performance planning, feedback evaluation, employee input, performance evaluation and performance review (Pulakos, 2010). These processes are intertwined with each other such that the feedback process can only be relevant if all the input from the employees are evaluated and reviewed hence the results are channeled for feedback evaluation where critical decisions like employee appraisals and recommendations take place. Other determinants like the ratings also apply in the process hence making it effective and successful. These processes can be summarized into just three processes i.e. Objective setting for the performance management, task performance and development and performance review.

Financial or extrinsic rewards in performance management relate to merit and which depends on performance when it’s linked to employee compensation. In PM the decisions on reward allocation depends on the appraisals from the feedback system. Non-financial or intrinsic reward systems includes other forms of rewards that may include development through training, recognition, career guidance and improved quality of working life. Application of non-financial rewards to performance management is challenging as employees have to be consulted on what they value unlike when dealing with financial rewards consultation is not necessary (Tolan, 2011). Performance measurement is a tool that is utilized in performance management to evaluate the performance of individual employees when conducting appraisal for employee recommendations. Performance measurement techniques are critical to the success of the performance management process as they determine the nature of feedback that the system generates. Processes like BSC are applied to ensure that the PM system is effective and successful.

References

Bhave, D.P., & Brutus, S., 2011, A macro perspective to micro issues, Industrial and organizational psychology, 4(2): 165-168

Broadbent, J. & Laughlin, R., 2009, Performance Management Systems: A conceptual Model, Management Accounting Research, 20, 283 – 295.

Buller, P.F. & McEvoy, M.G., 2012, Strategy, Human Resource Management and Performance: Sharpening Line of Sight, Human Resource Management Review 22 (2012) 43-56

Ferreira, A. & Otley, D., 2009, The Design and Use of Performance management Systems: An Extended Framework for Analysis, Management Accounting Research. 20, 263 – 282.

Guest, D.E. (2011) Human Resource Management and Performance: Still Searching for answers, Human Resource Management Journal, 21(1) 3-13.

Jirjahn, U, & Poutsma, E., 2013, ‘The Use of Performance Appraisal Systems: Evidence from Dutch Establishment Data’, Industrial Relations, 52, 4, pp. 801-828, Business Source Complete, EBSCO host, viewed 26 June 2015.

Kaplan, R.S. & Norton, D.P., 2004, The strategy Map: A Guide to Aligning Intangible Assets, Strategies and Leadership, Vol. 32, No. 5, pp. 10 – 17.

Kumari, N, & Malhotra, R., 2012, ‘Effective Performance Management System For Enhancing Growth’, Global Management Journal, 4, 1/2, pp. 77-85, Business Source Complete, EBSCO host, viewed 26 June 2015.

Pulakos, E.D. & O’Leary, S., 2010, Why is Performance Management Broken, PDRI, A PreVisor Company, Retrieved July 2, 2015 from http://www.gaoanalysts.org/Downloads/PDRI_Why_is_Performance_Management_Broken_2010.pdf

Pulakos, E.D., 2010, Performance management: A roadmap for developing, implementing and evaluating performance management systems, Society for Human Resource Management.

Tolan, M., 2011, ‘Developing Performance Appraisal Systems for Academicians’, Proceedings Of The Northeast Business & Economics Association, pp. 474-477, Business Source Complete, EBSCO host, viewed 26 June 2015.

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PROJMANICS LTD Project management

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see attached file

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Abstract

The identified project for PROJMANICS LTD is the development of new, innovative dishwashers. This project helps the business strategically by generating profit for PROJMANICS LTD. The leadership style during the project is democratic. The Project Manager for this project, Joey Brooks, will have the role of planning, implementing and closing the project. The project risks include scope creep/change in scope, insufficient funds, lack of skilled personnel, and some personnel leaving before completion of the project. The project is budgeted to cost £5 million and it would be carried out in a period of 1 year and 6 months.

Project management

Introduction

PROJMANICS LTD is involved in the manufacturing and retailing of innovative electronic products. The project that has been chosen that would generate profit for the organization is the development of a new and innovative product: dishwasher. This novel product is attractively designed, quiet and very energy efficient. This report provides a detailed Project Management plan that details the proposed idea.

Project organizational structure

Company CEO

Matrix organization structure: this organization structure draws employees from dissimilar functional disciplines for assignment to a team without having to remove them from their respective positions. In this organizational management, individuals who possess similar skills are pooled for work task (Perrin, 2009).

Project coordination

Staff

Green boxes represent personnel who are involved in project activities.

Belbin roles: Belbin pointed out that by understanding one’s role in a given team, one can be able to develop his/her strengths and manage his/her weakness as a team member and therefore improve how he or she contributes to the team (Schmidt, 2009). The Belbin model is used in this project in order to create teams that are more balanced. The team roles defined by Belbin are based upon observed behaviour as well as interpersonal styles.

Role		Explanation
Action-oriented roles	Shaper	Leader who is pushy shapes efforts of the team into a cohesive whole
	Implementer	This individual translates ideas into concrete tasks and carries them out. The individual makes objectives clear, defines roles and tasks
	Completer-Finisher	Persistently makes the team achieve in time. Injects urgency and raises standards. The individual is compulsive about deadlines (Morris, 2013).
People-oriented roles	Coordinator	Observes team processes, is detached. Absorbs every alternative and takes the decision of the team. Soothes conflict, encourages.
	Team worker	Dampens arguments, promotes group harmony. Arrives at logical conclusions by means of analysis. The individual checks feasibility and practicality.
	Resource investigator	The individual communicates to and from the outside world. He knows a lot of people. He sells ideas to others (Morris, 2013).
Thought-oriented roles	Plant	The individual is the source of original proposals and ideas. He looks for dissimilar approaches. Has an independent outlook and is concerned with major issues.
	Monitor-evaluator	The individual is a dispassionate analyst. He or she arrives at logical conclusions through analysis. He or she checks feasibility and practicality.
	Specialist	Provides unique skills to the project. Has specialist knowledge necessary to implement the project effectively (Morris, 2013).

Democratic Leadership style: for this project, the style of leadership that would be adopted during the project life cycle is democratic leadership style. The project manager will invite ideas from the team members during the process of decision-making and then goes with the majority. This style of leadership is also referred to as participative or consultative (Perrin, 2009). Generally, project managers who do not guide or lead at all do not fall under democratic management leadership style. Due to the democracy atmosphere, every member of the project team is allowed input, although this may lengthen the project’s time. Nonetheless, an upside to the democratic management leadership style is employee morale.

Project charter

The project entails new product development for the company; developing dishwashers. Development of a new product is a crucial activity for an organization given that it provides the company with future business opportunity. This project is required since it would enable the company to diversify its product range, increase sales, and improve the company’s profitability. It helps the business strategically by generating profit for PROJMANICS LTD.

With regard to the expectations of the client, PROJMANICS LTD expects a product that is innovative and captivating that would be able to generate profit. The identified product, dishwasher, is innovative and captivating in that it would feature the following characteristics: very attractive design; automated and equipped with an LCD screen highlighting the product’s minimalist style; compact, portable or built-in; various colours, including black, blue, white, and red; made of stainless steel; and two independent drawers. Moreover, the product features spaces designed specifically for small plates and for pans and pot. The product also has an adjustable rack which could be modified to suit the needs of the user.

The project manager in this project, Joey Brooks, cultivates the people skills required for developing communication and trust amongst all the stakeholders of the project: the sponsors of the project, individuals who would utilize the results of the project – dishwasher buyers –, project team members, and individuals who command the required resources. The project manager will have the role of planning, implementing and closing the project; he is responsible for realizing the defined objectives and goals of the project (Stoshikj, Kryvinska & Strauss, 2014).

Critical success factors (CSF): also referred to as Key Results Areas, CSFs are the crucial areas of activity which have to be carried out well if the goals and objectives of the project are to be achieved. Critical success factors help everybody in the project team know precisely what is most significant and this helps people in carrying out their own work within the right context and so pull together toward the same overall goals/objectives (Morris, 2010). For this project, the critical success factors are as follows: (i) agree on goals of the project – it is important to ensure there is an agreement with the senior executives of PROJMANICS LTD, sponsors of the project, in addition to other stakeholders on the project’s goals and purpose. In essence, understandable measurable goals would help in defining the scope of the project. (ii) Develop clearly delineated plans with assigned accountabilities and responsibilities. Every deliverable has to be delineated together with the essential tasks for producing them and possible risks. Responsibilities have to be assigned to the tasks and deliverables with apt due dates and accountabilities (Perrin, 2009). In addition, the process of planning has to include risk management activities as well as communication requirements. It is worth mentioning that developing the schedule of the project is just a part of the planning process. (iii) Cultivate continuous effective communications: the necessary channels of communication required to inform the pertinent stakeholders of the project’s progress should be determined. Project sponsors and PROJMANICS LTD’s management might want regular status reports or they may want only the exceptions and the highlights. The client might also want statements of work as well as progress assessments. Furthermore, members of the project team would need task assignments and frequent updates. The types and frequency of communication for every channel has to be described and managed. This communication plan would have to be included in the project plan and communication should be done regularly (Perrin, 2009). If there is poor communication, the project may fail.

(iv) Manage the scope of the project effectively: the scope is defined during the goal setting and planning phases of the project. In general, it would be fine if the scope of the project does not change, but the scope may actually change. It would be very important for the project manager to constantly be watchful and aware for alterations to the project scope and manage those changes well. (v) Ensure there is support from the senior management: the management of PROJMANICS LTD has to agree that the project is significant and that it would add value to the company. If PROJMANICS LTD’s management sees no value of the project, then they are likely to be unwilling to support it. Without management support, funding resources and human resources for the project may be unavailable.

The high level project scope basing upon business and compliance requirement is as follows: The project’s purpose is to develop a new product for PROJMANICS LTD Company. The deliverable of the project would be new, innovative dishwashers. There is demand in the marketplace for innovative, novel and ground-breaking dishwashers that are attractively designed, quiet, and energy efficient. The project is therefore intended to meet a market demand. The high-level risks for the project include project not being delivered within the defined time frame, the funds budgeted for the project being inadequate, lack of enough skilled personnel to complete the project, and client changing the requirements. Success would be determined by the Sponsor as soon as the new, innovative product is developed and launched into the marketplace and meets the project objectives without discrepancies.

SMART Objectives: The objectives are Specific, Measurable, Agreed, Realistic and Time-bound. The objectives of this project are:

To develop novel, innovative dishwasher products by December 2016 to generate 25% increase in PROJMANICS LTD Company’s revenue.
To increase profit by 20% by December 2016 through selling 1,300 units of new dishwashers.

High level risks: high-level risks are identified and they would be utilized as the starting point for a more comprehensive analysis of the risks that face the project. The high-level risks for this project include the following: (i) resource risk – the funds set aside for the project, £5 million, may not be adequate to deliver the project. There may also be a scarcity of skills for the project (Carvalho & Rabechini, 2015). (ii) Strategic risk – the money set for the project may be used up in an inappropriate way and impede the ability of PROJMANICS LTD Company to deliver other corporate goals. (iii) Schedule risk – this level of risk may affect the duration of the project. For instance, there could be delays in obtaining the parts for developing the dishwashers. There could also be decision delay for instance decisions pertaining to the specifications and features of the product. Other high-level risks include client insisting on new requirements; client insisting on technical decisions which extend the schedule; important personnel leaving prior to the completion of the project; development of product that does not meet user requirements resulting in redesign and implementation; requirements are not well known at project commencement; and the total product features specified could be beyond what the new product development team are able to deliver within the available time (Carvalho & Rabechini, 2015).

Stakeholders specific to the project: stakeholders are understood as organizations or persons who participate in the project actively, or whose interests might be affected due to implementation of the project or completion of the project (Kerzner & Saladis, 2009). For this project, the stakeholders include PROJMANICS LTD Company, which is the client organization including its senior executives and management; the project team members involved in the execution of the project; and members of the public since they are the end-customers of the new, innovative dishwashers being developed in this project. Other stakeholders include the government since the new, innovative dishwashers must be developed in compliance with the government standards and requirements; suppliers as they would supply the parts used to develop the product; and business analyst.

Project milestones:

	Task	Date
1	X1 Feasibility study	July 1, 2015
2	X2 Concept testing	November 17, 2015
3	X3 Detailed design	February 27, 2016
4	X4 Develop and test prototype	May 22, 2016
4	X5 Test product	July 15, 2016
5	X6 Finalize design	September 28, 2016
6	Y1 Set up production (Procure manufacturing capability and start up production)	November 12, 2016
7	Y2 Product launch	December 3, 2016

The new product development project is expected to cost £5 million.

Issues and approach: the main issues that may be encountered during new product development are uncertainties. These would be managed by having a decision gate or check point/stage-gate – at the ending of major stages. It is notable that the stage-gate methodology fits very well with the typical techniques of project management for instance Gantt chart, wherein the gates would correspond to milestones. In general, the stage-gate approach applies simultaneous engineering and defines obligatory activities for different phases such as develop stage, test stage, and launch stage (Schmidt, 2009).

Project Charter Template

Project Name: New Product Development – Dishwashers

Authorizing the project formally: This Charter formally authorizes the New Product Development Project to design and develop new products for PROJMANICS LTD Company. The new products are dishwashers. A project plan would be formulated and submitted to the Sponsor for her to approve. The project plan would include statement of scope; schedule of the project; cost estimate of the project; budget of the project; as well as provisions for schedule, procurement, resource, scope, risk, stakeholder management, quality, and project control. Every resource would be assigned by the Sponsor of the project, Dora Hitchcock.

Project Scope: The project’s purpose is to develop a new product for PROJMANICS LTD Company. The deliverable of the project would be novel, captivating dishwashers. There is demand in the marketplace for innovative, novel and ground-breaking dishwashers that are attractively designed, quiet, and energy efficient. The project is thus intended to meet a market demand. The high-level risks for the project include project not being delivered within the defined time frame, the funds budgeted for the project being inadequate, lack of enough skilled personnel to complete the project, and client changing the requirements. Success would be determined if the project meets the project objectives without discrepancies.

Project Manager: The Project Manager, Joey Brooks, is authorized to interface with the management of PROJMANICS LTD as required, assign roles within the project’s framework, negotiate for resources, and to communicate the company’s management and contractors, as required, in order to ensure that the project is actually finished timely and successfully. It is the Project Manager’s responsibility to create the project plan, monitor the schedule, scope and cost of the project during execution. He is also to keep control over the project by measuring performance as well as undertaking any relevant remedial action.

Summary of milestone schedule: The plan of the project would be submitted and approved according to the milestone schedule shown below. After the plan of the project is approved, resources would be assigned to the project and then work would begin within 4 business days. The following is the high level schedule:

	Date	Task
1	July 1, 2015	Project plan complete and approved
2	November 17, 2015	Concept testing completed
3	February 27, 2016	Prototype testing completed
4	May 22, 2016	Pre-test market completed
5	July 15, 2016	Test market completed
6	September 28, 2016	Finalize design
7	November 12, 2016	Set up production
8	December 3, 2016	Launch

Project Budget

The budget for the new product development is £5 million. This amount is to be funded by PROJMANICS LTD’s finance department.

Project Charter template

Work breakdown structure (WBS)

The project has a number of phases such as design of the dishwasher product, testing of the product, production, as well as arranging for marketing of the product. This listing formed the starting point of the high-level WBS.

Table 1: work breakdown structure for dishwasher development

Life cycle of new product development (dishwashers)
X1 Idea generation	Identify needs and requirements of the customer
	Assess quality of the existing products
	Describe the objectives of the new product for instance cost, quality, aesthetic, functional
X2 Concept design	Creative generation of idea
	Refining the concepts
	Retrieving previous design intent
X3 Feasibility study	Ensure strategic feasibility such as SWOT
	Ensure there is technology capability
	Ensure resources are available
	Ensure schedule feasibility
	Ensure fiscal feasibility
	Ensure there is market
	Decide whether to proceed or not to proceed
X4 Detailed design	Define the specifications
	Design the main features
	Make drawings
	Make prototype
X5 Test product	Test for user satisfaction
X5 Test product	Test main characteristic such as engineering
X6 Finalize design	Evaluate the product design
	Seek approval from the board
	Rework product design
	Freeze the design
Y1 Set up production	Acquire the necessary manufacturing capability
	Design the tooling
	Make the tools
	Modify the building
	Get the equipment
	Find the manufacturing personnel capability
	Start up production of the dishwashers
	Obtain first parts from production
	Test the parts
	Confirm quality tolerances
	Manufacture in volume
Y2 Arrange marketing	Identify the main benefits of the product
	Identify the likely users
	Plan the strategy for marketing
	Produce advertisements and catalogues
	Produce rainforest campaign
Y3 Arrange distribution of the new products	Create sales chain
	Get local representatives
	Develop business procedures for ordering, transportation, accounting, as well as repair
	Establish technical support capability
	Create user manual
	Create service manual
	Make a decision on conditions of warranty
	Get personnel capability
	Make lifetime spares requirement
	Decommission production
	Archive documentation
Closure of project

Project plan and responsibility matrix

Figure 1: Gantt chart showing project plan

Task Name

Jul 2015

Aug

‘15

Oct

‘15

Nov

17th

‘15

Nov

19^th

‘15

Dec

‘15

Jan

2016

Feb

27th

‘16

Mar

‘16

Apr

‘16

May

22nd

Jun

Jul

15th

Aug

‘16

Sep

28th

‘16

Oct

‘16

Nov

12th

‘16

Dec

3rd

‘16

Idea Generation

Concept design

Feasibility study

Detailed design

Test product

Finalize design

Set up production

Launch (arrange marketing and distribution of the new products)

Task responsibility matrix

The RACI model is used to develop the task responsibility matrix. RACI means Responsible, Accountable, Consulted, and Informed (Haughey, 2015). Responsible: this individual is the one who carries out the work in order to accomplish the task. In essence, they are responsible for getting the decision made or work performed. Generally, this is one individual, for instance, a business analyst. He/she owns the work. Accountable: this individual is accountable for thorough and proper completion of the task. Haughey (2015) reported that this has to be one individual and is usually the Project Sponsor or the Project Executive. This is basically the role that responsible is accountable to and endorses their tasks or work. Consulted: this is the individual that provides information for the project and with whom there is 2-way communication. The Consulted are often several persons, in most cases they are subject matter experts (Haughey, 2015). He or she delivers the information needed to carry out the work. Informed: these are the individuals that are kept informed regarding progress and with whom there is 1-way communication. The outcome of the tasks affects them so they must be kept up-to-date (Haughey, 2015).

Who Activity		Project Sponsor	Project Manager	Business Analyst	Project team member, Nancy Frome	Project team member, Phil Davies	Stakeholder
X1 Idea generation	Identify needs of the customer	A	R	I	I	I	I
	Evaluate the quality of the existing products		A	R	R	R	I
	Describe the objectives of the new product for instance cost, quality, aesthetic, functional	A	E	C	I	I	I
X2 Concept design	Creative generation of idea	I	A	I	R	R	I
	Refine the concepts	A	R	C	R	R	I
	Retrieve previous design intent	I	A		R	R	I
X3 Feasibility study	Check strategic feasibility such as SWOT	I	A	I	R	R	I
	Check technology capability	I	A		R	R	I
	Check for resources available	I	A		R	R	I
	Check schedule feasibility	1	A		R	R	I
	Check fiscal feasibility	I	A	I	R	R	I
	Check market			C			I
	Make decision to proceed or not to proceed	C	A	C	R	R	I
X4 Detailed design	Define the specifications	C	A		R	R	I
	Design the main characteristics	C	A	C	R	R	I
	Make drawings	C	A	C	R	R	I
	Make prototype	C	A	C	R	R	I
X5 Test product	Test for user satisfaction	C	A		R	R	I
X5 Test product	Test main characteristic such as engineering	C	A		R	R	I
X6 Finalize design	Review the product design	I	A	R	R	R	I
	Seek approval from the board		A		R	R	I
	Revise product design	I	A	I	R	R	I
	Freeze the design	C	A	C	R	R	I
Y1 Set up production	Acquire the necessary manufacturing capability	I	R				I
	Design the tooling	C	A	C	R	R	I
	Make the tools	I	R	C			I
	Modify the building	C	A		R	R	I
	Get the equipment	C	A	I	R	R	I
	Find the manufacturing personnel capability	I	A	C			I
	Start up production of the dishwashers	C	A	C	R	R	I
	Obtain first parts from production	I	A	C	R	R	I
	Test the parts	I	A	C	R	R	I
	Confirm quality tolerances	I	A	R			I
	Manufacture in volume	C	A	C	R	R	I
Product Launch		C	A	I	R	R	I

Project budget breakdown

Project Budget Breakdown
	Item	Description	Amount
1	Research costs	Costs incurred in conducting research to determine the appropriate design and product specifications for the new product	£327,860
2	Labour cost	Payment of staff salaries. Staff members include the project team members. There would be 10 participants in the project each would be paid £100,000 for the 18 months of the project	£1,000,000
3	Equipment cost	Equipment for making the prototype, testing the prototype, and making the final product	£945,000
4	Material costs	Materials for manufacturing the new product – dishwashers. Some materials are imported from China and Europe since they are not available locally in the United Arab Emirates	£1,350,000
5	Facility costs	Costs – including utility costs – of using the facility to manufacture new, innovative dishwashers	£527,000
6	Overhead costs	These include office overheads and other costs that cannot be directly accountable to a cost object	£120,000
7	Allowances for contingencies	The project scope may change and this would mean an increase in costs	£400,000
8	Project consultant	Provide vital input as an expert	£180,000
9	Other costs	Other costs that are specific to the project	£150,140
	Total		£5,000,000

To monitor and control the specified costs, the following methods would be used: frequently forecasting the project budget; forecasting usage of resources regularly; keeping the project team informed; and managing scope carefully considering that scope creep is a major cause of project overruns (Morris, 2009).

Project risk and analysis management/project health and safety policy

	Risk item	Description	Action plan to minimize occurrence
1	Shortage of expertise	There could be a lack enough skilled personnel to implement the project	Hire enough individuals who are skilled enough
2	Customer relations	Managing the demand of the client, PROJMANICS LTD	Properly understand customer needs and requirements
3	Insufficient funds	The budget may not be enough to complete the project	Continually forecast the budget and forecast resource usage regularly
4	Change of requirements	The client may change the requirements of the project during project execution	Prepare for and anticipate scope creep
5	Final product not satisfy customer needs	The developed product my fail to meet user requirements resulting in redesign	Properly understand customer needs and requirements
6	Project not finished on time	Parts may delay	Procure all the necessary parts and components on time prior to project implementation

Risk Map

Impact/severity	High	Insufficient funds	Shortge of skilled expertise
	Moderate	Change of requirements	Finished product not satisfy customer requirements	Project not finished on time
	Low		Customer relations
		Low	Moderate	High
		Probability

Project Health and Safety problems and solutions

The common problems are illustrated in the table below:

	Problem	Solution
1	Serious incidents that involve unguarded machines	Machine guarding throughout the premises
2	Poorly ventilated premises	Ensure the facility has adequate ventilation
3	Workers working without protective gear or appropriate attire	Protective gear and appropriate clothing availed to all personnel
4	Poorly lit workplaces	Ensure adequate lighting in the working areas
5	Workers overworked	Ensure there are enough workers and no worker works beyond the set time limits

Project Health and Safety Policy Statement: the highest safety and health standards would be maintained throughout the premises for a safe working environment for every employee working with PROJMANICS LTD.

References

Carvalho, M. D., & Rabechini, J, R. (2015). Impact of risk management on project performance: the importance of soft skills. International Journal Of Production Research, 53(2), 321-340. doi:10.1080/00207543.2014.919423

Haughey, D. (2015). RACI Matrix. Retrieved from http://www.projectsmart.co.uk/raci-matrix.php

Kerzner, H., & Saladis, F. P. (2009). What Functional Managers Need to Know About Project Management. Hoboken, N.J.: Wiley.

Morris, P. (2013). Reconstructing Project Management Reprised: A Knowledge Perspective. Project Management Journal, 44(5), 6-23. doi:10.1002/pmj.21369

Perrin, R. (2009). Real World Project Management: Beyond Conventional Wisdom, Best Practices, and Project Methodologies. Hoboken, N.J.: Wiley.

Schmidt, T. (2009). Strategic Project Management Made Simple : Practical Tools for Leaders and Teams. Hoboken, N.J.: Wiley.

Stoshikj, M., Kryvinska, N., & Strauss, C. (2014). Efficient Managing of Complex Programs with Project Management Services. Global Journal Of Flexible Systems Management, 15(1), 25-38. doi:10.1007/s40171-013-0051-8

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McKenzie Corporation’s Capital Budgeting

Order Instructions:

For this paper, your writer had completed this assignment before #112158 but I did not make it in this course as I mentioned in the beginning so I an redoing it. This time please I want you to assigned this paper to a writer who is savvy of the subject matter. It is critical that the writer use critical thinking and carefully read all instructions before beginning to respond to the questions. The writer must clearly respond to all 6 questions and must include all calculations where necessary. The writer must properly format the paper in APA using the 6th edition of APA. where necessary use the appendix and reference it in the discussion. The references must also be in APA double space.

• Mini-Case Study: McKenzie Corporation’s Capital Budgeting

The case study, found on page 557 of your course text, deals with the process of corporate budgeting and the types of decisions that must be made. After reading the scenario:
• Briefly answer the six questions at the end (4 to 6 sentences each).
• Include all calculations you were asked to provide.

SAMPLE ANSWER

Introduction

Capital structure of a company refers to the different combination of debt and equity capital that a company utilizes in a bid to get the most optimal ratio that provides the least weighted average cost of capital. Equity capital can be raised from retained earnings while debt capital can be obtained from external bonds and other long term loans (Ross, Westerfield & Jaffe, 2013).

1).

Economic Growth	Probability	Without Expansion	Value Without Expansion
Low	0.3	$ 25,000,000.00	$ 7,500,000.00
Normal	0.5	$ 30,000,000.00	$ 15,000,000.00
High	0.2	$ 48,000,000.00	$ 9,600,000.00
Expected value without expansion			$ 32,100,000.00

Economic Growth	Probability	Without Expansion	Value With Expansion
Low	0.3	$ 27,000,000.00	$ 8,100,000.00
Normal	0.5	$ 37,000,000.00	$ 18,500,000.00
High	0.2	$ 57,000,000.00	$ 11,400,000.00
Gross Expected value with expansion			$ 38,000,000.00
Less cost of equity			$ 5,700,000.00
Expected value with expansion			$ 32,300,000.00

It would be beneficial for the company to undertake the expansion as it would save $200,000.

2). The expected value of debt after one year with and without expansion would remain the same i.e. $29 million as the expansion would be financed by equity.

3). From the calculations above

Expected value with expansion			$ 32,300,000.00
Expected value without expansion			$ 32,100,000.00
Net Value Created			$ 200,000.00

The value of debt would not be affected hence the bondholders would not benefit from the expansion.

The stockholders would get $200,000 while the bond holders would get nothing from the expansion.

4). Without expansion the price of the bonds would remain unchanged as they would not be affected by the expansion the bondholders status would also remain the same. If the expansion takes place then the ratio of equity would increase and the debt to equity ratio would decrease. The rate of return on company bonds would also decrease. It would then result in an increase in the value of bonds and their prices.

The theory of capital structure by Modigliani and Miller (1958) applies in instances where the investors have similar and homogenous expectation. It also applies where the market is perfect and transactional costs are non-existent. It also applies where Corporation and individual investors can actually borrow or obtain financing at the same rate. The risk-free rate doubles as the cost of debt and it must constant while the company must also pay all profits in terms of dividend resulting in no growth for the Company.

5). If the company does not expand then its equity would remain the same as the current year. If the bond issue is redeemed and there is no expansion then the company will not be able to get enough equity to get the right financing it may require for its operations.

If the company agrees on the expansion then it will utilize the equity capital to finance it. These actions would create more equity capital for the company (Myers, 1984, pg.16). Hence the capital would be available but according to Modigliani and Miller (1958) the cost of debt to a company is basically cheaper than the cost of equity. Companies experience some kind of savings when they change from equity financing to debt financing. This is mostly in connection with the payment of taxes. Tax advantages are utilized when companies make use of debt capital especially when writing off interest payments. Equity capital application means that the dividends must be paid. Companies in most countries receive government subsidies when using debt to finance capital projects and not when using equity capital (Lopez-Gracia & Sogorb-Mira, 2008, pg. 136)

McKenzie restaurants Inc would be under utilizing its ability to expand due to no-exploitation of its debt portfolio.

6). The company would save as using equity is much more expensive than using debt capital (cash included) Debt capital attracts some benefits in form of waived interest payments and also the cost of changing from equity to cash. The payment by cash for the expansion would be the best alternative for the company.

According to Myers (1984) companies tend to use a pecking order when utilizing capital. The theory asserts that companies prefer financing from internal sources like retained earnings (equity) as compared to external financing for instance from issuance of new common stock. The major reason being that it’s cheaper to use for example retained earnings besides the company does not have to account or disclose the nature of the funding to outsiders like in the case of borrowing from the public where the prospectus is required to reveal all the information regarding the company’s equity and other sources of funds. Most companies will issue debt first even before issuing common stock incase external financing is unnecessary. When common stock is issued it sends a signal to the shareholders and other prospective investors that something needs to fixed urgently and it may not be positive for the company. However, the ratio of debt to equity depends on other factors in the real world such as the state of the economy, prevailing market interest rates and the urgency of the debt or equity.

References

Lopez-Gracia, J., & Sogorb-Mira, F. (2008). Testing trade-off and pecking order theories financing SMEs. Small Business Economics, 31, 117-136. Doi:10.1007/s11187-007-9088-4

https://econpapers.repec.org/scripts/redir.pf?u=http%3A%2F%2Fhdl.handle.net%2F10.1007%2Fs11187-007-9088-4;h=repec:kap:sbusec:v:31:y:2008:i:2:p:117-136

Modigliani, F. and Miller, M. (1958) “The Cost of Capital, Corporation Finance, and the Theory of Investment,” American Economic Review, June, 48:3, 261–97.

Myers, S. (1984)”The Search for Optimal Capital Structure,” Midland Corporate Finance Journal, 1 spring, 6-16

Ross, S. A., Westerfield, R. W., & Jaffe, J. (2013). Corporate finance (10^thed.). New York: McGraw-Hill Irwin

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Choosing a Performance Measurement Approach

Choosing a Performance Measurement Approach at Paychex, Inc.

Order Instructions:

Dear Admin,

Please read the following:

CASE STUDY Choosing a Performance Measurement Approach at Paychex, Inc.
The following job description is for an account executive at Paychex, Inc. (www.paychex.com). Paychex, Inc., is a leading national provider of payroll, human resources, and benefits outsourcing solutions for small- to medium-sized businesses. Paychex is headquartered in Rochester, New York, but the company has more than 100 offices and serves hundreds of thousands of clients nationwide. Because account executives often make sales calls individually, their managers do not always directly observe their performance. Furthermore, managers are also responsible for sales in their markets and for staying up-to-date on payroll laws. However, account executives are responsible for training new account executives and networking in the industries in which they sell products. For example, if an account manager is responsible for retail companies, then that account executive is expected to attend retail trade shows and professional meetings to identify potential clients and to stay current with the issues facing the retail industry.

ACCOUNT EXECUTIVE JOB RESPONSIBILITIES

•• Performing client needs analysis to ensure that the major market services product can meet a client’s requirements and expectations.

•• Establishing clients on the host processing system.

•• Acting as primary contact for the client during the conversion process.

•• Supporting clients during the first few payrolls.

•• Completing the required documentation to turn the client over to customer service for ongoing support.

•• Scheduling and making client calls and, when necessary, supporting sales representatives in presales efforts.

•• Keeping abreast of the major market services system and software changes, major changes and trends in the PC industry, and changes in wage and tax law.

Then answer the following questions:

1)What approach do you think Paychex should use to measure performance? Give reasons for your answer.

2)Is it important to consider developing good relationships within the industry?

3)Should we consider an absolute or comparative system?

4)Consider that the results of doing so may not pay off immediately or translate directly into sales. That could be a problem on your performance review!

Also,

1) The answer must raise appropriate critical questions.

2) Do include all your references, as per the Harvard Referencing System,

3) Please don’t use Wikipedia web site.

4) I need examples from peer reviewed articles or researches.

5) Turnitin.com copy percentage must be 10% or less.

Appreciate each single moment you spend in writing my paper

Best regards

SAMPLE ANSWER

Performance measurement plays an important role in an organization as it provides a tool for both supervisors and managers to gauge employee performance. Furthermore, Performance measurement is paramount to enable managers to find out if employees can meet organization goals. Performance measurement can be defined as a practice of analyzing, collecting and reporting individual performance in a company (Bititci et al., 2012 pg 208). It involves analyzing company’s processes to find if the business processes output are consistent with the objectives of the company.

However, this paper focuses on coming up with the most appropriate Performance Measurement Approach that can be used by Paychex Inc managers to assess account executives. Furthermore, this article discusses the ideology that developing good relationships within the industry is of dire importance for the success of Paychex, Inc.

Be as it may, account executives at Paychex, Inc work at different offices nationwide apart from working at the headquarters office which is situated at Rochester. They incur minimum supervision from their managers. They perform different duties such as training of new account executives, establishing clients on the host processing system, supporting new clients during the initial stages in receiving payrolls and performing the client need analysis. Furthermore, it is their duty to perform administrative functions such as documentation, scheduling and receiving client calls among many other duties. Due to the nature of account executive duties, it is best for managers to assess account executive performance using the Result Based Approach.

The result Based Performance approach is the best for this case given the nature of job executives who work at Paychex, Inc. That is, account executives work with minimal supervision from the managers. Hence, the managers should analyze results of their duties in the organization to assess their performance.

Result Based Approach is efficient for measuring the performance of employees who work with little or no supervision. Managers can begin by identifying account executive goals and list the resources required for the account executives to achieve this goal. The employee performance is gauged by the number of goals he/she has accomplished within the stipulated time frame. To achieve this goal, managers can employ Management by Objectives technique as one of the tools to measure performance using Result Based Approach. Managers at Paychex can come up with corporate goals, set and align account executive goals, monitor their performance and measure their performance based on their outcome (Searcy, 2012 pg 247). Also, managers should reward account executives who perform best to encourage them to perform even better at work.

Results based approach is advantageous because; takes less time, the cost of performance measurement is low, and the information collected are objective oriented (Zairi, 2012 pg 94). This approach is appropriate for assessing executive because: they are skilled in the necessary behavior. Behaviors defining account executives and the results of their jobs are related. It is expected that account executives should always exhibit a consistent improvement in their results over time. Managers also expect account executives to do their duties in the right way and ethically.

Having a good relationship between an organization and external business environment plays an important role in creating an enabling environment for business. The success of a company in business activities depends on developing a good and strong relationship with other companies within the industry. Good organization relationship with the external environment helps an organization to fill gaps within the market and, therefore, enable an organization to focus on producing core products and services.

Paychex Inc can enjoy the following by having a good relationship with other organization within the industry. Having a good relationship with other key players within the industry can enable an organization to access resources such as raw material, capital, intellectual property, buildings and many others (Rice, 2013 pg 64). A good relationship with other organizations within the industry can help the organization to expand into the international market. This expansion would not have been easy without having a good relationship within the industry. A good relationship with clients enables a company to develop products that fit customer needs. Therefore, the company will be able to develop better products that are tailored towards the customer needs and hence fit the entire market. Companies often work under the umbrella of industrial associations to help in increasing credibility. On the same note, industrial associations help companies to spread risks and rewards as well as increase the rate of adoption of new technology and innovations (Rice, 2013 pg 92).

Furthermore, good relationship in the internal environment can help a company to improve teamwork, employee morale and, therefore, increase the company productivity. Teamwork often results in better performance by employees. A dynamic team of well-motivated employees plays an important role in improving the organization’s reputation and improve the organization sustainability.

For Paychex, Inc it is best for them to employ absolute standards appraisal method as compared to a comparative system. Absolute standard systems employ appraisal methods such as Behaviorally Anchored Rating Scale (BARS), Management by Objectives (MBO) and Critical Incidents. Behaviorally Anchored Rating Scales (BARS) compares individual performance in the workplace against specific examples of traits that are anchored to numerical ratings. The best appraisal tool for evaluating account executive is Management by Objectives (MBO). MBO measures actual performance and achievement against the defined objectives (Carmen, 2014 pg 438). Therefore, Management by Objectives is ideal because it aligns organizations objectives with the quantitative measures such as profits and defects in units produced as well as the number of sales. Management by Objectives is beneficial because it improves employee commitment and motivation. In our case, it also ensures better communication between the managers and account executives. However, it as a weakness as it emphasizes more on attaining set objectives rather than having a systematic plan of attaining such objectives (Austin, 2013 pg 67).

The issue of results not paying off immediately or translate directly into sales may not be a challenge on performance review. This is because result based approach does not focus only on the short run results but the long run. MBO focuses on the set objective and working towards the attainment of long-run goals rather than short-run (Bititci et al., 2012 pg 307).

To conclude, the best performance measurement approach that can be adopted to measure the performance of account executive is the results-based approach. This is because it is less costly, objective oriented and takes less time to measure performance. Be as it may, organizations should have good relationships within the industry it operates. This feature enables an organization to network and acquire items that would not have been otherwise easy. As a final point, Paychex should employ absolute standard method of performance appraisal such as Management by Objectives (MBO)

References

Austin, R. D. (2013). Measuring and managing performance in organizations. Addison-Wesley. http://ptgmedia.pearsoncmg.com/images/9780133492071/samplepages/0133492079.pdf

Searcy, C. (2012). Corporate sustainability performance measurement systems: a review and research agenda. Journal of business ethics, 107(3), 239-253.

Bititci, U., Garengo, P., Dörfler, V., & Nudurupati, S. (2012). Performance measurement: Challenges for tomorrow*. International Journal of Management Reviews, 14(3), 305-327.

Zairi, M. (2012). Measuring performance for business results. Springer Science & Business Media.

Carmen, A. (2014). Management by Objectives. Ovidius University Annals, Economic Sciences Series, 14(1), 433-436.

Rice, A. L. (2013). The enterprise and its environment: A system theory of management organization (Vol. 10). Routledge.

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Evaluating Vision and Mission Statements at Pepsi Co

Order Instructions:

Dear Admin,

CASE STUDY ((Evaluating Vision and Mission Statements at Pepsi Co))

Consider the mission and vision statements for Pepsi Co (http://www.pepsico.com/Company.html) and then answer the questions included below:

1)Evaluate the mission and vision statements of Pepsi co against the theoretical purpose of such statements.

2)How effective are they in linking strategy with individual performance?

3)We can argue, with important support, that the mission and vision statement of a firm should be linked to individual performance. How do we get from a mission and vision statement to individual performance?

4)To what extent are the mission and vision statements developed using the environment, the managerial philosophy of the firm, the public image sought by the organization and/or the self-concept of business adopted by the leadership and stockholders? Is culture an influencer?

Also,

1)The answer must raise appropriate critical questions.

2)Do include all your references, as per the Harvard Referencing System,

3)Please don’t use Wikipedia web site.

4) I need examples from peer reviewed articles or researches.

5)Turnitin.com copy percentage must be 10% or less.

Appreciate each single moment you spend in writing my paper

Best regards

SAMPLE ANSWER

Introduction

Pepsi Co is one of the leading brand names within the soft drinks industry operating in Australia. The company’s has expanded its products into international markets such as the United States of America, Japan, and Eastern Europe among other states. Pepsi Co in its pursuit for penetration into different markets with different products and brands has begun the process of acquiring fast-food joints such as Kentucky Fried Chicken, Taco Bell, and Pizza Hut (Gjurovikj, Pp. 482-488, 2013). These restaurants are being used by this company to capture clients and influence them into drinking the company’s beverages.

This paper therefore seeks to undertake a study on this company’s vision and mission statements and how this apparatus relate to the theoretical functions and purposes of the company. Also effective will be how the company links its strategy with the performances of individuals and how the company gets its vision statement into a developed state that links the environment and other aspects of the organization.

Pepsi Co’s Mission and Vision Statement against its theoretical purpose

Pepsi Co’s mission statement involves its approaches that are geared towards increasing the value of its shareholders investments through sales growth, wise investment of its resources and cost controls (Gjurovikj, Pp. 482-488, 2013). The company also believes in the fact that it core success lies upon offering value and quality to its customers and consumers by providing products that are wholesome, safe, efficient, economical, and environmentally sound through a fair return to its investors while also ensuring that the safety standards and integrity are strictly adhered to wholistically.

The company in its mission and vision statement categorically focuses and pursues avenues of not only achieving profits and success, but also considers the welfare of its company’s stakeholders and its end consumers (Matwiejczuk, Pp. 265-275, 2013). It is imperative to also realize that the company links its mission and vision statements into its achievements that can be gained through their sales growth, wise investment, and through the control of costs. The vision and mission statements of this company therefore define its nature as well as what it stands for, a factor that gives the authentic image of its operation in achieving its purposes in the market.

Linking the Companies Strategy with Individual Performance

Pepsi Co companies strategy as indicated in their mission and vision statements is not only in achieving and making goals like to maximize on their profits and improving services for its people but one that motivates its staff in understanding the companies mission and vision. Through this, the staff members are motivated to get involved in achieving the set goals in a collective approach that incorporates all the individual performances into achieving targets (Matwiejczuk, Pp. 265-275, 2013). In pursing the mission and visions of the company, there has to be individual performances incorporated. For instance, when PepsiCo decides to achieve an increase in its market share by 10% on its products, it can quickly think of using advertisements, exports of its products to other markets, promotions, the improvement of the quality of its brands and reducing the prices of its beverages. However, when the staffs who act as the individual performers are not involved in this process, the company is likely to face hitches in its initiatives however how good strategies they have.

Visions and Mission Statements into Individual Performance

It is significant to realize that before an organization the like of Pepsi Co’s mission and vision statements can have an impact on an individual performance, it is vital that the companies employees embrace the values that the organization upholds with the aim of making them understand their employee mission and treat it as integral within the business (‘Pepsi Co Case Study’ Pp. 1-5, 2007). By just publishing some feel-good statements in the name of a mission and vision statement on the employee’s handbooks does not necessarily infer that the employees have understood the essence of the companies’ mission.

It is critical that employees take the ownership of the mission and vision statements as it is their own and that describes their job description, a factor that makes it simpler to communicate and conduct the mission of the organization in every sphere of the employee’s responsibilities (Sarmiento, Shukla, & Izar-Landeta, Pp. 64-76, 2013). In the event that a company desires to achieve success in its processes, they should develop employee mission and vision statements and communicate them accordingly in order to affect their individual performances and standards. The mission and vision statement have the impact of affecting the performance of individuals since they act as performance standards. In order to determine individual performances and how the mission and vision affects then, it is important that the employees of a company quantify the missions and visions of a company.

The Extent in which the Mission and Vision Statements are Developed

The mission and vision statements of Pepsi Co are developed through the use of environment and some other key functions on the corporate responsibility levels. In this account, the company pursues and maximizes on the potential market opportunities that open doors for it, a factor that forces the company to reflect on ways on reaching such markets (Sipek, Pp. 22-25 2015). The company has showed commitment to social responsibilities through developing a mission that supports sustainability, in delivering growth by investing in a future that is health by protecting the environment.

The company for instance has launched recycling machines which recycles waste products in different areas such as kiosks, gas stations, public parks, stadiums and so on. This is in line with the advancements the company makes in the participating in Corporate Social Responsibility. Culture also plays a role in influencing the company’s ethical position. This infers to the manner in which people manage, behave and think in approaching their businesses daily. The company’s operations are therefore affected by this mores and norms

Conclusion

Pepsi Co today is considered a leading brand name within the soft drinks industry operating in Australia. The company’s has expanded its products into international markets such as the United States of America, Japan, and Eastern Europe among other states. Pepsi Co’s mission statement involves its approaches that are geared towards increasing the value of its shareholders investments through sales growth, wise investment of its resources and cost controls (Zenger, Pp. 52-58, 2013).

The company in its mission and vision statement categorically focuses and pursues avenues of not only achieving profits and success, but also considers the welfare of its company’s stakeholders and its end consumers. Pepsi Co companies strategy as indicated in their mission and vision statements is not only in achieving and making goals like to maximize on their profits and improving services for its people but one that motivates its staff in understanding the companies mission and vision. It is therefore significant to realize that the functions and operations of the company are guided by its mission and vision statements.

References

Gjurovikj, Ab 2013, ‘Knowledge Management As A Competitive Advantage Of Contemporary Companies’, Proceedings Of The International Conference On Intellectual Capital, Knowledge Management & Organizational Learning, Pp. 482-488,

Matwiejczuk, R 2013, ‘Logistics Potentials in Business Competitive Advantage Creation’, Log Forum, 9, 4, Pp. 265-275,

‘PepsiCo Case Study’ 2007, PepsiCo Case Study: Taking Advantage Of Changing Market Conditions, Pp. 1-5,

Rowan, C 2013, ‘The World’s Top 100 Food & Beverage Companies: Repositioning For A New Global Environment’, Food Engineering, 85, 9, Pp. 64-76,

Sarmiento, R, Shukla, V, & Izar-Landeta, J 2013, ‘Performance Improvements Seen Through The Lens of Strategic Trade-Offs’, International Journal of Production Research, 51, 15, Pp. 4682-4694,

Sipek, S 2015, ‘A Global Vision: Leading PepsiCo’s Learning Evolution. (Cover Story)’, Chief Learning Officer, 14, 3, Pp. 22-25,

Zenger, T 2013, ‘Strategy: The Uniqueness Challenge’, Harvard Business Review, 91, 11, Pp. 52-58,

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Mini Case Study Bethesda Mining Company

Mini Case Study Bethesda Mining Company Order Instructions: For this paper the writer will make sure he include all calculations and tables in the appendix and reference them in the discussion by using numbers or letters base on APA rules for using tables and calculations in a paper.

I will urge the writer to carefully research the rules on how to use an appendix in a paper and also on how to include calculations in a paper using appendix. It is critical that the writer detail respond to all the questions mentioned in the mini case. the writer must clearly justify all calculations as mentioned hear below.

• Mini-Case Study: Bethesda Mining Company

In this case study, found on page 206 of your course text, you are asked to analyze the benefits and costs of a proposed project. After reading the case study:

Calculation of the financial figures as requested for the Mini Case Study Bethesda Mining Company

• Write up a brief recommendation as to the feasibility of the project ( 3 paragraphs with a minimum of 5 sentences a paragraph).

• Justify your recommendation using your calculations.

Write up a 2-page summary of your findings, including any calculations you might have made and relate how you reached your conclusion.

SAMPLE ANSWER

All the incremental cash flows of Bethesda Mining Company have to be used in analysis to ensure that the actual and the real tabulations are obtained. This is very crucial as net capital is build up through the use of a net working capital which occurs ahead of sales, and another reason is because the initial cash flow is depended on the cash outflow (Lappas, 2008). The company will be able to sale 600,000 tons each year on contract form and as well on the spot market. In order to get the total sales of the revenue, the price per ton that is under contract will have to be multiplied with 600,000tons and this will then be added to the spot market sales and finally multiplied with the spot market price. The sales of the Company will be as follows for a period of four years.

Year 1 year 2 Year 3 Year4

Contract $20,400,000 $20,400,000 $20,400,000 $20,400,000

Spot 2,000,000 5,000,000 8,400,000 5,600,000

________________________________________________________

Total $22,400,000 $25,400,000 $28,800,000 $26,000,000

The opportunity cost will be the after tax and the expected percentage required is the initial outlay for the networking for the required networking capital times. The year 1 working capital will be obtained as follows;

The Initial working Capital = .50 ($22,400,000) = $ 1,120,000

And this is the reason todays cash flow is given as follows:

Equipment -$30,000,000

Land -5,000,000

NWC -1,120,000

____________________

Total -$36,120,000

(The table showing tabulation for OCF can be found in the Appendix)

In the fifth year the Bethesda Mining Company has to incur $4 million in reclaiming the land that the company has to carry out its operations in. Taxes that will be incurred in the year are a credit to the company (Miller, Deitrick & Hu, 2011). Donation to the company is termed to be expenses that later result to a tax credit. Opportunity cost is availed for the land despite the fact that there is no information concerning the after-tax salvage value. Net working capital cash flow for each year is what is calculated below for it is very necessary in getting the NWC.

Year 1 Year 2 Year 3 Year 4

Beg. NWC $1,120,000 $1,270,000 $1,440,000 $1,300,000

End NWC 1,270,000 1,440,000 1,300,000 0

_____________________________________________________________________

NWC CF -$150,000 -$170,000 $140,000 &1,300,000

In accounting for the salvage value for the company cash flow is required to be tabulated whereby, the cost of equipment that is used is the after tax salvage value that will be used for the new project (Losiewicz, Oard & Kostoff, 2000). The equipment’s are termed as an opportunity cost as they can as well be sold and used after the project. To calculate the book keeping value for the equipment we release that the original cost will be tabulated by subtracting the original cost from the accumulated depreciation.

Therefore, book value of equipment will be given as = $30,000,000 – 4,290,000,- 7,350,000- 5,2502,000- 3,750,000

Thus, book value equipment will be = $9,360,000

The equipment cost $18million in the market in other words that is its market value and this will as mean that the selling of the equipment will bring more incurrence of taxes given as below;

The tax during selling of the equipment= ($18,000,000- 9,360,000)(3.8)=$3,283,200

It will mean that even after salvaging the equipment’s its value will be

=$18,000,000- 3, 283,200

=$14,716,800

This tabulating will give the net cash flow of each that the company will be incurring and it will include the operating cash flow of the company together with the after-tax salvage value and the net working capital for the company as well. The table below shows all the cash flows;

Time Cash-flow

_$36,120,000
8,579,200
10,977,500
26,047,400
-2,480,000
-3,720,000

The tabulations given below will give the budgeting analysis for the project which will be obtained after the payback period;

The company payback period = 3+ ($8,579,900/$26,047,400

The payback period will be then be= 1.0563

The company will need the AAR and this is calculated by diving the average net income with the book value of Bethesda mining company (Han,Cheng, Dong & Yan, 2007). The mining operation is not beyond two year while the cash flows extend even after the period and this will give a better room for AAR to be tabulated as shown below.

AAR = ( ($4,439,200 = 3,797,500 = 6,522,400 = 6,280,600 – 2,480,000- 3,720,000) /6) /

(($25, 710,000 + 18,360, 000+ 13,110,000+ 9,360,000+0+0)/6)

Therefore the AAR will be .1487 0r14.87%

In order to get the IRR, its equation will be given as below;

0= -$36,120,000+ $8,579,200/ (1+IRR) +$10,977,500/ (1+IRR) ²+$11,920,400/(1+IRR)³

While on the other side the IRRs for Bethesda project will be given as follows using a financial calculator;

IRR=14.41% – 61.75%

MIRR= 12.94%

NVP= -$36,120,000 +8,579,200/1.12 +$10,977,500/1.12² +$11,912,400/1.12³

NVP= $2,031,914.04

Having obtained a positive NVP in the final calculations it’s enough evident that the project is worth and ought to be accepted for it will be positive at the end in terms of profit making.

Mini Case Study Bethesda Mining Company References

Han, J., Cheng, H., Dong, X., & Yan, X. (2007). Frequent pattern mining: Current status and future directions. Data Mining and Knowledge Discovery, 15(1), 55-86

Lappas, G. (2008). An overview of web mining in societal benefit areas. Online Information Review, 32(2), 179-195

Losiewicz, P., Oard, D. W., & Kostoff, R. N. (2000). Textual data mining to support science and technology management. Journal of Intelligent Information Systems, 15(2), 99. Retrieved from http://search.proquest.com/docview/200192572?accountid=45049

Miller, Z., Deitrick, W., & Hu, W. (2011). Anomalous network packet detection using data stream mining. Journal of Information Security, 2(4), 158-168. Retrieved from http://search.proquest.com/docview/929269873?accountid=45049

Appendix

The tabulation of the OCF on yearly basis is given as;

	Year1	Year 2	Year 3	Year 4	Year 5	Year 6
Sales	$22,400,000	$25,400,000	$28,800,000	$26,000,000
Var. Costs	8,450,000	9,425,000	10,530,000	9,620,000
Fixed Costs	2,500,000	2,500,000	2,500,000	2,500,000	$4,000,000	$6,000,000
Dep.	4,290,000	7,350,000	5,250,000	3,750,000
EBT	$7,160,000	$6,125,000	$10,520,000	$10,130,000	-$4,000,000	-$6,000,000
Tax	2,720,800	2,327,500	3,997,600	3,849,400	-$1,520,000	-2,280,000
Net Income	$4,439,200	$3,797,500	$6,522,400	$6,280,000	-$2,480,000	-$3,720,000
+Dep.	4,290,000	7,350,000	5,250,000	3,750,000
OCF	$8,729,200	$11,147,500	$11,772,400	$10,030,600	-$2,480,000	-$3,720,000

Philips Essay Paper Available Here

Philips

Order Instructions:

Dear Admin,

Note: To prepare for this essay please read the required articles that is attached

I need an essay in the following subject:
Your task is to prepare an annotated outline of your Final Project, briefly indicating the content you plan to include in each section of the report and the concepts and techniques you plan to apply for analysing any data and developing your argument. The outline should not include detailed sections of the Final Project. Instead, it should be a specific and crisp overview of the contents that will comprise the final report.

You need to briefly describe what information you will include in each section of the report that will work to satisfying these requirements. The work that will be carried out in the outline should represent a higher-level view than the contents of the Final Project. As such, you must remain at this level to avoid reusing the same wording in the final document.

Also,

1) The answer must raise appropriate critical questions.

2) Do include all your references, as per the Harvard Referencing System,

3) Please don’t use Wikipedia web site.
4) I need examples from peer reviewed articles or researches.

5) Turnitin.com copy percentage must be 10% or less.

Note: To prepare for this essay please read the required articles that is attached

Appreciate each single moment you spend in writing my paper

Best regards

SAMPLE ANSWER

TQM W7 ASS

Monitors, lighting, color picture tubes for TV’s and shavers are among the products of Philips, one of the three top world’s producers. 50 million integrated circuits are turned out each day by the factory, 30 million tubes of pictures and 1.5 billion lamps of incandescent are produced by the company every year. The company has interests listed on 16 stock market in 9 states, has over 25 locations that has global network of 400 designers, has 265000 employees and has service and sales outlets in 150 countries and over 40 states with 240 production places (Robert, 2013). The company also has also invented 1000 products, has six research laboratories and employees 3000 scientists (Robert, 2013).

In 2003, Philips announced it’s signing of the agreement regarding the transfer of the Audio, Video, Multimedia and Accessories business to Funai on January 29, 2013. Since signing, the company, has been working hard to prepare the business for transfer in the second half of the year 2013. This process has now been completed (Robert, 2013).

BEST represents breakthrough leadership process in Philips. Through alignment of all business and leadership process, BEST drives the company to a World-class level by those improvements. To make things better, Philips is guided by principles to manage the enterprise, commitment and seek betterment. Speed improves programs and makes them focused, clear and correct. Delay of deliveries of programs are seen if the speed is slow. Shorter process cycle accelerates the learning speed at Philips.

At Philips, the managerial knows that without teamwork they cannot compete to get full potential. Hallmark of business at Philips are teamwork, business Excellency, hallmarks and speed. There is always a difficulty in convincing the sales and promotion managers to hold responsibility for TQM. The resistance was partly caused by concern of quality as the main responsibility of the quality department (Ad banjo, 1997).

It is agreeable that most organizations in an attempt to implement TQM would have faced considerable philosophical and practical obstacles. With managers and executive’s difficulty in interpreting and understanding TQM, they could not be expected to sell the idea to the remaining companies. This is hence the reason for failure rate as high as 75% by programs of TQM (Cao et al, 2000).

Ad banjo, (1997) the commitment for TQM implementation by the chief executives is vital. If the chief executives is from a finance or sales background and has a historical or personal skepticism management issues, it will be tricky getting to buy-in. However, while chief executives and organizations performance is scrutinized on a yearly or even quarterly basis, TQM tends to have a medium to long-term payback.

However, though lacking the power to deal adequately with the other dimensions, TQM is an approach to change management that focuses almost entirely on changes in the process. TQM’s benefits may all be regaled by structural, cultural and political constraints, but its value in process improvement is not disputed. (Cao et al, 2000).

Dale et al. (2000) some chief executives, have started to return to quality and cited six sigma as the rebirth of classic quality because they are fed up with excellence without performance, this may not be too surprising and there are likely to be wider issues involved, While there appears to be some justification for this view.

Effective EFQM has provided a holistic model termed as business excellence to hold such a purpose. New directions to the quality movement and deep and lasting changes into participating organizations has been given by the model and the associated self-assessment process (Dale et al, 2000). Due to the raised question whether or not it makes any sense to compare companies according to an arbitrary weight structure, which has never been empirically tested, research on weight structure has been limited and this is problematic regarding the use of the model (Eskildsen, Kristiansen, Juhl, 2002).

The strong mechanistic history of TQM was as a result of change in focus from quality to excellence was believed. Convince managers in departments such as sales and production to take responsibility for quality was found to be difficult by researchers. When such managers saw the word quality they thought TQM to be the sole responsibility of the quality department. It was evidently difficult to enable the whole organization to understand the philosophy and broaden the ownership of TQM from the quality department to all levels in an organization (Ad banjo, 2001).

Sun et al, (2004) TQM may have been misunderstood narrowly as a tool for quality improvement only. The principles of TQM improves the enterprise performances in terms of productivity, cost, customer satisfaction, quality, delivery, market share and profit. More explanation is needed to justify the move from the EFQM model to the European Business excellence model. However, a feeling may rise that the TQM movement is over.

Chapman, (2000) two organizations, one each from the private and public sectors, applied the EFQM excellence model to improve their performance by using a flexible and innovative approach. The aim of any business excellence model is to remain in dynamic and flexible enough to change depending on the influence and opinions of organizations using them ( Ashton, 1997).

Jeanne’s, (2000) every type of organization should be able to include any of the dozens of quality initiatives under the model and identify the relevance of the model to several practices and initiatives. Quality of goods was totally removed though it can be argued that it’s the slow growth of the use of classical quality management that caused the wide acceptance of business excellence.

There are a lot of parallels between six sigma and excellence model, both are complementary approaches. The US equivalent of the UK business excellence award ,two of the early winners of the Malcolm Baldrige National Quality Award, have been proponents of the six sigma approach, including Motorola, the organization that first came up with the idea (Morgan, 2000).

Increasing use of initiatives may be stirred by use of techniques and management tools for the desire to succeed at excellence of a business, though it is entirely based on TQM principles. For the survival in today’s market, there should be need for complement between organizations by the quality and business excellence to enable the success of the business.

Reference list

Adebanjo, O. A. (1997), A framework for total quality culture development, PhD, University of Liverpool. United Kingdom.

Cao, G, Clarke, (2000), A system view of organizational change and TQM, the TQM magazine, United Kingdom.

Dale, B. (1999), Excellence and total quality management: is there a difference, Food Industry Journal, Vol. 3 No.2 pp105-14. London.

Jeanne’s, C. (2000), Death by a 1000 initiatives, quality world. Bristol.

Kristiansen, K, Juhl, H.J, (1999), beyond the bottom line- measuring stakeholder value. Sage, London.

Morgan, J. (2000), Six Sigma excellence, UK excellence, United Kingdom.

Robert Biel, (2013), News line: Philips to take legal action against Funai. London.

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Network solutions Case study Paper Available

Network solutions case study

Order Instructions:

Dear Admin,

Note: To prepare for this essay please read the required articles that is attached then answer the following questions:

Which features of the system implemented at Network Solutions correspond to what were described in the selected weekly reading as ideal characteristics?

Identify characteristics that are missing from the system at Network Solutions.

Also,
1) The answer must raise appropriate critical questions.

2) Do include all your references, as per the Harvard Referencing System,

3) Please don’t use Wikipedia web site.

4) I need examples from peer reviewed articles or researches.

5) Turnitin.com copy percentage must be 10% or less.

Note: To prepare for this essay please read the required articles that is attached

Appreciate each single moment you spend in writing my paper

Best regards

SAMPLE ANSWER

Introduction

The choice of the methods to be adopted in performance measures that would be used to evaluate the performance of employees is critical to the management as it affects the attitude of the employee when perceiving issues of fairness, job satisfaction and also organizational commitment. Non financial rewards systems have over the years resulted in more positive response from employees. These include improved attitude, job satisfaction and increased productivity.

Ten are present while four are not.
a) Inclusiveness – Employees participate in the process of creating the system by providing input on how performance should be measured.

Employees should be allowed to have an alternative on the performance rating that should be allowed to apply in their evaluation processes. Some systems maybe perceived to be biased and may result in reduced staff morale and high staff turnover. The major purpose of performance evaluation is to increase individual employee production and create an environment for optimal performance.

Lack of participation in the process of creating a performance system may result in staff apathy for the system as what the management may take as motivation may be considered by the employees as beyond their reach and the management is set out to get rid of them. The expectancy theory clarifies that motivation is mostly affected by three factors. The first factor is the perception that the management efforts are directly correlated with performance. The other is instrumentality which is concern with employee expectation that all the rewards are also connected with performance. The third factor is called valence and it involves how much the employees value the rewards offered. The only way that the management can give the highest reward according to employees is if they are consulted during the formation stages so that their views are also included in the reward system for the performance based system (Sloof and Praag, 2005). Hence imperfect performance measurement remains one of the greatest reasons that result in dis enchantments of employees.

b) Correctability – There is an appeals process, through which employees can challenge unjust or incorrect decisions.

The appeal process creates an environment of fairness among the employees. Those who have been evaluated and failed in performance measurements should be allowed to appeal in the processes that they may feel was unfair and unjust. Employees should be allowed to appeal for their cases to be reviewed again.

Strategic Congruence – Individual goals are aligned with unit and organizational goals. When individual employee goals are aligned with individual goals it results in high performance. Most individual goals target financial rewards while most companies target performance and production rates. When the company decided to align individual employee goals with their own then it must have also considered that majority of employee goals is also to achieve financial satisfaction while also attaining the requisite training and vertical growth in the company’s organization structure. According to Kaplan and Norton (2004) the most effective linkage in high level strategy in performance management in individual reward programs especially where the Balanced Scorecard is involved. The major goal of this linkage is that it focuses the attention of the employee to the organization’s strategic priorities hence providing extrinsic motivation when rewarding employees after the organization has achieved its target. The company gains when employees have been rewarded hence it provides motivation on both sides.

Strategic Congruence – Individual goals are aligned with unit and organizational goals. Majority of employee goals is also to achieve financial satisfaction through attainment of requisite training and consequently achieve vertical growth in the company’s organization structure. Network Inc is silently on the exact rewards of the employees and the process of rewarding the best performancers. Lately, there has been an increased emphasis on the application of non-financial performance measures in accounting for rewards due to the inadequacies of the financial measuring systems (Ittner and Larcker, 2001). Most financial performance measures that are applied in accounting are considered as late or take time to be made, are too aggregated, back-ward looking, inadequate and incomplete (Mia and Alam, 2001).

Due to these shortcomings and deficiencies in financial performance measurement most companies have shifted focus to non-financial measures that are literally broader, reflect on different aspects of long-term perspectives that also reflect on different dimensions of the performance by management. Hence the use of incentives systems that has non financial rewards result in more positive response and behavior from employees. These processes are perceived as fair and they offer better terms that increase job satisfaction and organizational commitment.

The company needs to understand how the various aspects of reward systems affect its employees. The reactions generated by the employees on non financial measures should be weighed against those that are generated from financial rewards and the appropriate system adopted.

To conclude, each company is unique and the performance measures that work successfully I one company may achieve different results when implemented in another company. Each company should adopt a system that works best for each individual case.

References

Hoque, Z., Mia, L., Alam, M. (2001), “Market competition, computer-aided manufacturing and use of multiple performance measures: An empirical study”, British Accounting Review, 33(1):pp. 23-45.

Ittner, C.D. and Larcker, D.F. (2001), “Assessing empirical research in managerial accounting. A value-based management perspective”, Journal of Accounting and Economics, 32(1-3):pp. 349-410

Kaplan, R. S. and Norton, D. P. (2001) “Transforming the Balanced Scorecard from Performance Measurement to Strategic Management: Part I”, American Accounting Association, Vol. 15, No. 1, pp. 87-104

Sloof, R. and Praag, M. V. (2005) “Performance Measurement, Expectancy and Agency Theory”, Tinbergen Institute, Discussion Paper, No.026/1.

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