After addressing the problem between the supervisors, next I will complete the 40 performance reviews for my direct reports. This task must be completed second because the deadline is 5:00 p.m. today. The president seriously dislikes when deadlines are not met and I certainly do not want to be reported for failing to complete my direct reports performance reviews on time. Furthermore, if the reviews are not completed by the deadline, the system will lockout preventing my employees from receiving their merit raises.
This is unfair because they are entitled to receive the merit raises that they earned. Additionally, they deserve to receive feedback regarding their job performance as part of the review process. If performance reviews, including
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merit raises are done effectively, they encourage employees to perform better from then forward. One of the President’s priorities is to take care of the customer’s needs, which is addressed through employee performance. In addition to the benefits of merit raises, feedback is importance because it is an opportunity for the reviewer to discuss the positives and the negatives of the employees’ job performance and what their future goals should be. Also as important, it is an opportunity for the employee to discuss their personal concerns regarding their weaknesses and strengths. The employees goals need to align with those of the company. This can address the President’s priority of producing a high quality product. This will happen if employees and management are on the same page. After completing the performance reviews, I will meet with the Director of Information /Technology to discuss the details and the extent of the security breach to determine a course of action. This is the last task completed today because I am not sure how long the meeting would take. At this point, I have already completed the tasks which had a deadline and those which could interfere with the production schedules. I can dedicate as much time as is necessary to complete this task. Creating a course of action to address the current security breach and how to prevent one in the future is essential to keeping the president’s priority of keeping the company’s costs as low as possible. It is also imperative that the hackers are not successful at accessing the company’s personal data. According to a study sponsored by IBM, the average cost of a data security breach in 2015 is $3.8 million, with an average cost of $154 for each stolen record. An even larger cost is the loss of trust of customers. The hackers posting on the company’s official website that “the travel toothbrush sucks” also needs to be addressed as soon as possible.
It could cause the company to lose profits by negatively affecting customer loyalty to the brand and tarnish the reputation of the company. Brand loyalty is important to the profits and the future of the company. As mentioned by Bashin (September 2011) in The 20 Brands with the Most Loyal Customers, “Loyal customers consistently come back to buy more, they’re willing despite increases in price.”
At the end of the work day, the tasks that I scheduled for tomorrow include: meeting with the Community College Professor to discuss an internship opportunity for students and to meet with the President to develop a long term strategy for the investors
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meeting. First thing the next day, I will meet with the Community College Professor to discuss the possibility of an internship program for three students at Schmearton Technologies.
Even though I had already rescheduled this meeting twice in the last three weeks, I chose to reschedule it again due to the tasks which I had completed yesterday directly affecting the operations of the company. This task is important for me to accomplish because I can appreciate the benefits that an internship program can offer to the company since I was hired for my current job as a result of the skills which I acquired during my internship. Having made a commitment to increase my earnings this quarter, hiring interns at a lower wage than an entry-level employee will contribute to my earnings as well as to an increase in production. Other benefits to hiring interns are that they can bring fresh, new ideas to the company and this is an opportunity for the employer to evaluate the potential of the interns as paid employees in the future (Forbes, May 2011).
Last, I will meet with the President to develop a long term strategy in preparation for the investors meeting. I did not chose to do this prior to the other four tasks because I was concerned that it may take so much time that I would not be able to accomplish as much the day before. I chose to reschedule this meeting for today, because I was sure that we would still have time for the meeting and for me to complete the power point presentation a day before
the meeting is scheduled to take place, giving the president enough time to review it prior to the meeting. As mentioned by Bennett and Miles (HBR May 2006) in Second in Command: The Misunderstood Role of the Chief Operating Officer, it is my job to make the CEO successful. In addition to keeping the President happy, as an officer of the company, I also have a duty to the investors and board of directors to maximize the profits of the company through my management of the day-to-day operations of the company. Keeping the investors happy with the current direction of the company is important to both me and my boss keeping our jobs and to the future of the company. As an executive officer a company, I will typically have more tasks which I am responsible for than I can possibly accomplish in a workday. As a result, I must prioritize the tasks. Everything cannot be a priority. The factors which I will consider when prioritizing the tasks to be given the highest priority in order to be completed today are those which have deadlines which need to be met, and those which are or could possibly have a negative effect on the company’s profits and reputation.
According to businesses who supply to Woolworths and Coles, for Woolworths and Coles to be able to sell products at low prices, they would exert their market power on suppliers whose majority of products were sold to them and were dependant on them to operate. The suppliers were pressured to reduce their prices or threatened be released as a supplier. This effectively forced suppliers to drop prices or lose their largest source of revenue and potentially result in closing down. The long-term implications of this would be that as suppliers are unable to sustain their business due to price cuts, they would close down and result in many brands ceasing to exist. This would greatly impact consumers as it would reduce the range of products and limit consumer choice. The low prices also create a high barrier to entry for new businesses and effectively run smaller retailers out of business, further reducing the already low level of competition. This would additionally negatively impact consumers because as the level of competition decreases, prices for consumers would rise due to the lack of
Apart from the experience I have gained at LT Security Inc., my various internship positions have also exposed me to eye-opening responsibilities. For example, as a marketing intern at MySelf New York, I engaged in organized discussions with customers as well as colleagues in the pursuit of better promotional and marketing strategies. I have also gained experience with other matters such as employee coaching and assistance, employee relations, communication and implementation of policies and procedures during my time at Stony Brook University as intern in arts management and at Yunnan Changji Real Estate Co. Ltd where I served as an administrative
...nce 2008), [CITE: #7?] it adversely impacted Dollar General’s profitability given their higher purchasing costs and lower margins relative to other categories. Analysts estimated that Dollar General’s margins fell from 7.4% in 2008 to 7.1% of net sales in 2013. [2]
Top management has accepted the schedule created at the end of Part 2. Prepare a brief memo that addresses the following questions:
Scot and I had our meeting today. Scott came and took out his checklist to make sure that he has done everything he needed to do for this week.
Further information will be provided as the date draws nearer. Please encourage the employees in your department to participate in this worthwhile effort.
In her article, "Should Internships Be a Mandatory Part of the College Curriculum? The Answer is Yes", Ms. Landry states that she believes that every college and university should have at least one internship as a mandatory part of its curriculum. She deems that internships are very helpful both to students and to entrepreneurs, stating that internships are exactly what gets “companies to come here, grow here, invest here and stay here”. Students, on the other hand, receive practical knowledge in their chosen field and set up the contacts they will need for the future. She also cites Susan Brennan, the Managing Director of Bentley University’s Career Services, who suggests students take internships early and often, because they are
The meeting called upon by the president aims to address this problem through the conduct of a meeting with the operations manager, branch manager and marketing manager to improve sales output and save the branch from a possible closure or bankruptcy.
He has decided to make some changes in the way that communication occurs in the office in order to improve employee satisfaction with company leadership. After an analysis of his current communication practices, it is clear that he could implement three important changes to improve results. First, he must begin having regularly scheduled meetings. Next, he must package his communications with the business to include why an action is being taken as well as what that action will be. Thirdly, Williams must adopt more effective avenues of communication, such as electronic mail, to effectively lead his staff. If Williams can successfully apply and practice these three communication strategies, he will become more effective as a leader and there is a greater chance that employee satisfaction will
One thing that comes along in almost every college kid’s career at school or universities is to complete an internship as a part of their degree path. Internships are often seen as an essential for allowing students to get real world experiences and even possibly getting their foot in the door at a future employer. But at what cost? According to a 2013 study 47.8% of internships in the United States were unpaid and around 1 million unpaid internships were offered annually . By 2011, 1 in 2 students graduating with internship experience had not been paid for their work . Most of the time students are paying their schools to do unpaid work and with credit hours costing hundred of dollars per credit it can be costly for students to maintain a
When it comes time to plan and execute a business meeting it is important to follow a few simple steps to ensure that the meeting is effective as can be. There are four steps that can help guide a meeting in the proper desired direction. These steps include, setting the meetings intentions in advance, invite only the doers and decision makers, have a clear meeting leader and a tight time lined agenda, finally, post meeting send a meeting recap to all parties involved. This paper will explain how following these four steps will lead to a more effective business meeting.
Poor time management however can have the opposite effect on your performance efficiency and productivity. Examples can include inefficient work flow, wasted time, missed deadlines and poor quality of wo...
Throughout my internship, I was well trained and did receive a fruitful experience. The real working environment prepared me for future employment after my graduation. However, I did encounter some problems, which I gradually managed to deal with. Whatever happens, productivity increases by keeping a positive attitude.
While participating in an internship, students get a great experience and they learn new qualities such as time management, reporting writing, communication skills, independence, and many more. These qualities were discovered by a few professors who did research in this field. They surveyed students on a 15-week internship in a 5-year diploma program. They questioned 478 students and 293 supervisors, and at the end they found out that an average of 14 skills are developed during internships. Through their research, these professors affirm that internships are valuable to professional development (Scholz, Steiner,
ability to establish a professional work ethos as well as developing skills needed to maintain a work life balance. Through all the experiences gained from this internship, it has provided skills such as multitasking in a fast paced office setting, keen organizational skills, and improvement on communicating in a professional workplace as well as the ability to handle situations as they arise.