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Advantages and disadvantages of employee loyalty
Employee loyalty research paper
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Internal control is very important for any company, but it is especially important for small companies. Small companies sometimes have situations where fewer employees are given many jobs, which can lead to fraud. Internal control is beneficial to companies such as H & R Hardware because it can help keep fraud out of the company. In the company H & R Hardware, there are a few things that could be considered internal control strengths. One strength is that the owner of H & R Hardware, David, likes to socialize and gather with his employees. This can lead to good working relationships, which can improve the loyalty of the employees to the company. Because of this, the employees are more likely to put their best efforts into the company and …show more content…
All of the employees know each other and they have a very specific and loyal customer base. Although all of these are great characteristics of a company, it can also be detrimental because when employers and employees become so close and trust each other too much they can lose sight of the purpose of the company. This trust can be blinding to employers and make them think that their employees are too loyal to commit fraud. This is an internal control weakness because the employer, such as David, might be tempted to not monitor his employees closely, which in turn can lead to fraud. Another weakness is that David does not have formalized policies and procedures set up in his company, and the code of ethics has not been discussed in fifteen years. When the employees are forced to play a guessing game at the rules and regulations, it can be harmful to the company. Also, the employees do not have formal job descriptions. This again, leads to employees questioning what is expected from them. The final and most prominent internal control weakness in H & R Hardware is that one person has too much responsibility. John Batson takes care of the accounting, he opens the mail, posts accounts receivable, handles accounts payable, makes deposits and is in charge of payroll. When one person has many important jobs like John does, it provides him with more motive and more opportunity to commit fraud. Because John is in
Internal controls is defined as a process, effected by an entity’s board of directors, management, and other personnel, designed to provide reasonable assurance
The next problem is an Autocratic Leadership. In an autocratic leadership employees have no say. All decisions are made by the management. This is a problem because even though management may know what is best for the company, they do not know what is best for the employees. They should listen to the employee’s ideas and not dismiss them immediately. (toolbox, Leadership Styles: Autocratic leadership)
Moreover, the company has placed great significance on open and honest communications with the employees on many levels. Even more, leadership expected a plan that would utilize all human assets in a way that would support the organization’s attitude in servicing customers and employees. As such, they found it important to centralize the staffing initiative in order to maintain the unique corporate culture created in the beginning. Every one of these strategies would be focused on centralizing staffing, brining in the best possible employees, and retaining each on a high
Internal locus of control is how you as a person dictates how their work or personal life is going to go. Meaning the results of something is based on ones behaviors and actions. For example, getting the new job promotion and you knowing that you got the job for your hard work and not because you think, it is out of pure luck.
CEO Johnston also has plans to bolster the company’s leadership with the best minds available and also use motivational techniques to invigorate his employees. These ideas show the character of the CEO in enhancing productivity from his work force.
The process of management consists of four major elements that are interrelated. Leading, controlling, planning, and organizing are considered these four elements (Hill & Jones, 2011). Using each of these elements, the strengths or weaknesses of the company will be evident. A strength of an organization refers to potential competitive advantage or the distinctive competency that is inherent to an organization. This is in regards to organizational operations. A Weakness of an organization refers to any aspect of the company that needs to be improved upon (Hill & Jones, 2010).
The Hollate Manufacturing case provided by Anti-Fraud Collaboration has well illustrated how several common issues in an organization contributed to the fraud’s occurrence. These issues can be categorized into two major groups: ethical culture (internal aspect) and internal control system (external aspect). By taking effective actions to enhance these two aspects, an organization can protect itself against the largest frauds, which result in financial and reputational damage.
...ng conditions as well as overall organisational performance. Due to being intrinsic rather than extrinsic the company does not incur a high cost and thus would be able to retain and motivate employees further.
The Hefty Hardware case study presents multiple critical issues that will impact both short-term and long-term growth and development of the company. The first issue is the communication gap and lack of integration between stakeholders in business and the Information Technology division. The second critical issue is the lack of shared knowledge and each department working on projects in essentially silos. The third critical issue is internal company politics driving the executive-level decision making process. Solutions to the above issues will need to be addressed with utmost urgency to ensure Hefty Hardware’s foothold in the marketplace.
Pitts and Koufopoulos (2012) argue that resources and capability are highly important internal factors that should be taken into account by the organization in order to obtain the successful performance in the long run.
3. The contributing factors to their ineffectiveness were poor planning and leadership. The company grew to quickly. In their desire to grow and expand, the company’s senior management did not establish and follow ethical practices that would sustain the company. Controls were not established in key places, such as, accounting practices and principles. Senior management failed to appropriately manage the activities of lower level managers and set a bad example.
Having an internal locus of control means that our successes and failures come from the amount of effort we put forth. People who are internals will hard for what they think they need in life. They won't blame their failures on anything else, but their own mistakes and not trying hard enough. Those who have an external locus of control will tend to believe that their success and failures come from luck or fate. They don't think they have to work for what they need in life, because the world will provide for
Consequently, the most important object to learn is that external factors, coupled with the internal environment factors have a decisive impact on the functioning of the organization. All factors are closely twisted and affect each other. The manager should be able to analyze all these factors together and without losing any of the mind and make the right
A processor is the chip inside a computer which carries out of the functions of the computer at various speeds. There are many processors on the market today. The two most well known companies that make processors are Intel and AMD. Intel produces the Pentium chip, with the most recent version of the Pentium chip being the Pentium 3. Intel also produces the Celeron processor (Intel processors). AMD produces the Athlon processor and the Duron processor (AMD presents).
computer architecture Computer architecture covers the design of system software, such as the operating system (the program that controls the computer), as well as referring to the combination of hardware and basic software that links the machines on a computer network. Computer architecture refers to an entire structure and to the details needed to make it functional. Thus, computer architecture covers computer systems, microprocessors, circuits, and system programs. Typically the term does not refer to application programs, such as spreadsheets or word processing, which are required to perform a task but not to make the system run.