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Importance of diversity in organizations
Importance of diversity in organizations
Chapter 2Chapter 2 Diversity in Organizations
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Bureaucratic control- This will keep everything in order and keep the chain of command in order. It will decrease the amount of problems between employees and typical mistakes because the job is explained to the employee in detail and rules are strictly implemented.
Strengths- If the owner Is someone who likes to be in power and like his managers to have almost complete control this would be a great style of control for them. Critical and basic decisions for the company will be made a lot faster because there are less people involved in the decision. Work is usually more consistent and effective with this type of control.
Weaknesses- This does not allow the company to be as creative and innovative as it possibly could because of it
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Weaknesses- weaknesses include lack of diversity, a lot of the times companies that use clan control end up having employees with all of the same beliefs and morals, losing the advantage of a diverse organization with differences throughout the company creating different ideas and a different look at things. It also includes weaknesses such as, lack of dissent, and lack of authority.
Benchmarking- This is going to always keep the employees held to a statue that they need to keep working at or above.
Strengths- Performance improvement will be a large strength to this, employees will continuously be having to reach a mark and above it. This will make it so the company gets what they need at the very minimum and even better.
Weaknesses- The real weakness of this is it loses the ability to really measure overall effectiveness of operational metrics. Arrogance is something to watch out for when dealing with benchmarking once you surpass the benchmark level its important to keep pushing the benchmark level and not just being satisfied with what you
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The organization will be able to review profitability, this will make it so the organization can see where they are making money and where they aren’t. The organization will be able to give performance evaluations once they see the review of the budget they can break down to see what employees did good or bad.
Weaknesses- This is a very time consuming process to be able to create a budget for an organization. Another weakness is this will cause employees to be blamed for the outcomes after the organization does not achieve its budgeted result. Expense allocations will also be a weakness.
Scenario 1. Family games recently discovered one of its foreign facilities is way behind in revenue that was previously guessed to be way higher. The local laws of the facility are not allowing them to be able to just shut down the facility, but the company is losing money because of this facility.
Answer key Budget control- If the company were to implement budget control before any of this could have happened they would have noticed earlier on that this facility was losing money rather then them just thinking and estimating the facility would make
New advertising and branding might not be successful, therefore funding has been exhausted unnecessarily and the owners will have to begin over- multiple transitioning can open the door for competitors.
Benchmarking should not be considered simply a tool of management, but rather an integral part of the business strategy of a firm. When implementing benchmarking, management must consider the overall issues of performance and process re-engineering.
For example, bankruptcy, competition, recalls and high structure costs, are a few of its weaknesses. Competition breeds success, at least that’s what my boss always says. Competition, is a weakness for Chevrolet, as more automotive companies strive to manufacture the next bestselling automobile. Chevrolet, always has to look into its rear view mirror at what the competition is doing. Moreover, since there are so many different vehicles on the market, that gives consumers a wide range of choices. Competition between the automotive companies for market share, requires them to use their most effective marketing techniques. Interestingly, when companies battle for market share, this increases the consumers bargaining power (Lutz,
...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.
A company's budget serves as a guideline in planning and committing costs in order to meet tactical and strategic goals. Tactical goals such as providing budgetary costs for daily operations, and strategic objectives that include R&D, production, marketing, and distribution are all part of the budgeting process. Serving as a guideline rather than being set in stone, the budget is a snapshot of manager's "best thinking at the time it is prepared." (Marshall, 2003, p.496) The budget is a method in which to reign-in discretionary spending, and will likely show variances between what costs have been anticipated and what costs are actually incurred.
In controlling, organization has lots of risk factors .Manager take some employee who is able to control and handling risk factors.
The purpose was to show how employees could contribute to the company's objectives. Employees were able to understand the terminology and best practices of the scorecard as it related to strategic planning. KPI’s where they saw improvement were in the company’s operating cash flow, total revenue of bids submitted, and number of preventable environmental excursions. (2013) The balance scorecard allowed Veolia to develop a framework to measure their goals and show progress.
We live in a world of organizations that make it nearly impossible for us as individuals to live our lives as our own. The purpose of me writing this is to show you how and why.
Anderson, K & McAdam, R, 2004, A criqique of benchmarking and performance measurement: Lead or lag?, Benchmarking: An International Journal, vol.11, No.5 Pp. 465-483
There are some valid examples from literatures as to why budgets are may be unnecessary tool in a company. The problem with budgets is that the managers may be rewarded when the planned budgets are achieved. This system may lead a poor quality of budgets, because the managers would most probably only focus on achieving the target and will try to set lower goals. Jensen (2003, p.381) stated that people is getting rewards for lying in the budget-based system; as a matter of fact, the reality is that in most organizations would use budget system that rewards people for ruining important information and punishes anyone who does something that give benefit the organization. This type of activity is certainly unhealthy and completely misused the budgeting system. Other than that, if a company have a fixed-performance contract, may lead the managers into fear that if they do not spend any left overs in the budgets by the end of the year, their funding in upcoming years will be cut down (Gary, 2003). Based on Hackett survey, it showed that between 60 per cent and 90 per cent from the top 2000 global companies implement this type of contract. Hence, these practices are not that practical and may drag down the company’s performance. As stated by Welch (2005 cited in Libby and Lindsay, 2010, p.56) that budgets may conceal any opportunities and stunt growth of the
Participative Budgeting is the situation in which budgets are designed and set after input from subordinate managers, instead of merely being imposed. The idea behind this sort of budgeting is to assign responsibility to subordinate managers and place a form of personal ownership on the final budget. Nearly two decades of management accounting research has resulted in equivocal findings on the consequences and effects of participative budgeting (Lindquist 1995). Participative budgeting certainly has various advantages, these include the transferral of information from subordinate to superior increased job satisfaction for the subordinate, budgetary responsibility and goal congruence. Its disadvantages include budgetary slack and negative motivation, however it is the conditions in which participative budgeting takes place determines whether the budgeting process is successful. The conditions are dependent on various factors such as the level of participation, level of subordinate influence, the extent to which budgetary slack takes place, volatility, job related information, and the complexity of the budget.
This poor performance can be attributed to a working environment with a low quality human capital mix. Instead of implementing the RIF programs that aims for mass employee lay off, the working environment should be modified. This could include good
A organization with a strength based can use the special talents of their employees. I know that employees that are able to give their input and the manager really listens. The employees are happier, more productive and are willing to do whatever is ask of them. The work environment is a place of peace. Everyone is important to the firm. Managers that let employees utilize their talents have a good firm. The firm that I work for is a customer service company. We have great service, one of the reason is that we all use our talents to help service the customers better. The firm has grown since I have been there. Under new management, of course. Because of him being the person that he is. He takes pride in the firm, his job, and his employees. He recognizes that we are people with different ideas. He listen, understands and willing to try. Anything that is good for the
Strengths • Truly represents the essence of organization • People focused • Lays strong foundation
It requires an adequate and sound organizational structure, that is, there must be a definite assignment of responsibility for each function of the enterprise. Budgeting compels all the members of management, from the top to bottom to participate in the establishment of goals and plans. Budgeting compels departmental managers to make plans in harmony with the other departments and of the entire enterprise. Budgeting helps the management to put down in figures what is necessary for a satisfactory performance. Budgeting helps the management to plan for the most economical use of labor, material and capital. Budgeting tends to remove the cloud of uncertainty that exists in many organizations, especially among lower levels of management, relative to basic policies and objectives. Budgeting promotes an understanding among members of management of their co-workers' problems. Budgeting force management to give adequate attention to the effects of general business conditions. Budgeting aids in obtaining bank credit as banks commonly require a projection of future operations and cash flows to support