Essays on Profit Sharing

PPQ Parts Strategic Plan

Introduction: Environmental Scanning Environmental scanning is defined as the watchful and diligent monitoring of a company’s internal and external settings. It opposes to the concept of ‘surveillance’, which is restricted to a focused goal or a particular sector (Black's Law Online Legal Dictionary). The early detection of both threats and opportunities is crucial to underpin a company’s strategic planning. Such growth is unlikely to be supported by its United States operations, where its 5,000-person workforce is employed. Management acknowledges such fact and has determined that new international facilities will be necessary. Furthermore, a high level of ...

Literature Review

Abstract Nowadays attracting and retaining professional and skilled staff has become a challenge for many companies. Many organizations experience significant turnover that adds complications to their business activity. Providing employees with the rewards of different kinds helps companies to deal with this problem, assists with retaining talent, and reduces expenses for hiring. The rewards offered by the organizations can be of different kinds and serve various goals. Rewards can be financial and non-financial, extrinsic and intrinsic. Management of these rewards differs from company to company and is usually designed to serve the certain goals of the organizations. One more ...

Background

ConsoE has recently acquired Expeer, an electrical company based in Austin, Texas with 15,000 employees. Expeer’s benefits package for its employees has traditionally been extensive and comprehensive when compared to what ConsoE offers. A tactical plan to communicate the change in benefits structure for the incoming former Expeer employees is crucial to help them understand and adjust to the new order.

Issue Identification and Root-Cause Analysis

The employees of Expeer get very high benefits that are significantly different from what is offered by the Consolidated Electronics. The benefits include a fully paid ten different health insurance plans, a 401k plus 3% match ...

Introduction

An ideal organization reaps the best productivity out of it human capital by rewarding the right people at right time with right amounts and right reasons. Most of the organizations in the world have some sort of Reward philosophy although some do not articulate it as a guiding principle while others have them linked to their goals (Armstrong, 2012). There are different approaches to the development of the total rewards programs and the prevalent variable pay systems which help in devising adequate employee motivation strategies that boost the organizational productivity(Armstrong, 2012). However, in case of organizations facing a ...

1. Indicate whether you agree or disagree with the following statement: “Individual incentive plans are less preferable than group incentives and companywide incentives.” Incentives play an important role in motivating employees as it encourages them to be more dedicated and productive in their work. When presented with the two types of incentives, which are the individual and countrywide, group incentive plans are more preferable than the other. While individual incentives are said to bring about a better performance because “the link between a person’s pay and his or her performance is tighter” (McGee et al, 2006), group incentives ...

Are profit sharing plans effective in motivating employees?

Introduction Profit sharing is a phrase known to every individual since the beginning of business. This is nothing new but an old concept since the time when fishermen and farmers have used it to earn their livelihood. In USA this concept was brought in 18th century. When the civil war ended and industrialization prevailed companies all over and states started to share profit so as to stop their employees from unionizing. At the end of 2nd world war, government levied taxes on income but it didn’t practice on the money earned due to profit sharing which further flourished ...

Discussion questions:

1. John Tu, one of the founders of Kingston Technology, believes that building a relationship of respect and trust with employee is crucial to achieving business success. Indentify the management practices at Kingston that help in achieving this goal. 2. Do you agree with Kingston’s policy of giving new employees profit-sharing bonuses even when they join the company just one week before profits are distributed? Support your position. I think that providing newly-hired employees with profit-sharing bonuses is a nice tool to make employees feel more comfortable at their jobs. This is especially important for the novices. They ...

1. John Tu, one of the founders of Kingston Technology, believes that building a relationship of respect and trust with employee is crucial to achieving business success. Indentify the management practices at Kingston that help in achieving this goal. Kingston Technology maintains the family-style management and its founders John Tu and David Sun believe in building relationships with their employees. Their business is driven by relationships and not money. Their management approach is to provide ample respect, good financial remuneration and other benefits to their employees and maintains an egalitarian work environment. The employees get the motivation from the ...

INTRODUCTION

Greetings, representative of Datong Mining – we at Fernet Brio are extremely honored to have you here with us for this negotiation of the impending joint venture between our two companies. For the past fifteen years, Datong and Fernet Brio have enjoyed a long and fruitful partnership, one which both of our companies have profited from immensely. As such, we have developed a solid level of communication which we believe should allow us to come to an arrangement that benefits all involved.

In the interests of good faith, we are Fernet Brio would like to present to you a gift. It is our ...